Nigeria, once a leading crude oil producer in Africa with close to two million barrels per day production is struggling to keep up despite the passage of the Petroleum Industry Act.
Senior lawyer and human rights activist, Femi Falana, has described the recent burning of a crude oil laden vessel by soldiers as “a deliberate attempt to cover up the involvement of military personnel in the serious crime of oil theft.”
Lagos State Government has assured of its support to promote the export of locally-made goods, in a bid to reduce the nation’s dependency on crude oil.
Bayelsa State Police Command has arrested and paraded five notorious pipeline vandals, who specilised in breaking and damaging crude oil pipelines for illegal oil bunkering activities
31 Jul 2022
In 2001, I attended the national council on power when the late Olusegun Agagu was Minister of Power, this was during the Olusegun Obasanjo administration, Danjuma Goje was Minister of State for Power,...
Non-oil export key to Nigeria’s economic renewal, say stakeholders at Zenith Bank’s int’l trade seminar
21 Jul 2022
Stakeholders unanimously called for support of Nigeria’s non-oil export sector, yesterday, at the seventh Annual Edition of the Zenith Bank International Trade Seminar, themed: ‘Unlocking Opportunities in Nigeria’s Non-Oil Export Business.’
20 Jul 2022
The Nigeria Employers’ Consultative Association (NECA) has expressed concerns that losses from daily crude oil theft, alongside a corrupt and inefficient ports system, continue to undermine the country’s revenue
23 Jun 2022
A Professor of economics, Perekunah Bright Eregha, has advised the Federal Government to adequately invest in education and make funding the sector a priority
15 Jun 2022
The Organisation of the Petroleum Exporting Countries (OPEC), has released a fresh report on crude oil production of its member countries, indicating that six countries increased their crude oil output while seven countries declined in production.
3 Jun 2022
Despite the contributions of cocoa to Nigeria’s economy and its potential to do better through higher production, value chain development, local consumption and export
6 May 2022
In the first four months of this year, data from the Nigerian National Petroleum Company Limited showed that Nigeria was losing about 250, 000 barrels per day of crude oil to theft.
27 Apr 2022
Projected demand drop of over 1.4 million barrels per day of crude oil at the international market may provide brief succour for Nigeria’s economy, which has been gasping for breath