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By Abiola Olawale The Federal High Court in Lagos has granted an interim Mareva injunction directing 20 commercial banks to block accounts of Shell Petroleum Development Company (SPDC) and its affiliate companies, in a bid to recover the cash equivalent to the alleged loss of 1.02 million barrels of crude oil suffered by Aiteo Eastern…
February 18, 2021
Amidst rumours of an impending hike in the pump price of petrol, the National Bureau of Statistics (NBS) announced on Tuesday that the country’s headline inflation climbed to 16.47 per cent in January 2021. Food inflation also rose to 20.57 per cent in January, from 19.56 per cent in December 2020. Inflation soared at 15.75…
February 17, 2021
From Segun Amure, (The New Diplomat's Abuja Bureau) The Nigerian Petroleum Corporation, (NNPC) on Monday, summoned major marketers, independent marketers and other stakeholders to deliberate on petrol price as the landing cost of the product rose from N151 to N180 per litre, due to the ongoing oil price rally at the international market. The rise…
February 16, 2021
By Abiola Olawale Deluge of congratulatory messages has been posted around the globe to felicitate with the Dr Ngozi Okonjo-Iweala, Nigeria’s former Minister of Finance who was officially named as the Director General (DG) of the World Trade Organization (WTO), Monday. Her appointment was confirmed in a statement by the WTO Monday, following the General…
February 15, 2021
By Abiola Olawale The Royal Dutch (RDS) Shell has filed a suit against the Nigerian government at the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) over a $479 million compensation claim following the environmental ruins in Ejama-Ebubu, Rivers state. Shell is challenging an order of Supreme Court of Nigeria, on November 30,…
February 15, 2021
New DG Lays Out Plans For WTO At General Council After months of geopolitics, Dr Ngozi Okonjo-Iweala, Nigeria’s former Minister of Finance and development economist has been confirmed as Director General (DG) of the World Trade Organization (WTO). Her appointment was confirmed in a statement by the WTO Monday, following the General Council Meeting of…
February 15, 2021
From Ameachi Prosper (The New Diplomat's Delta Correspondent) A liquid substance suspected to be crude oil has been discovered gushing from the ground in the non-oil-producing community of Otuabula 2, in Ogbia Local Government Area of Bayelsa State. The National Oil Spill Detection and Response Agency (NOSDRA) has taken samples for testing after visiting the…
February 14, 2021
The Nigerian government has raised its borrowing limit from 25 per cent of its Gross Domestic Product (GDP) to 40 per cent, the Debt Management Office (DMO) disclosed this in a document. The DMO said the Federal Executive Council (FEC) at its meeting on February10 approved the new Medium-Term Debt Management Strategy for Nigeria, for…
February 14, 2021
With Agency Report -- In a landmark ruling, the UK Supreme Court on Friday allowed 42,500 Niger Delta farmers and fishermen to sue Royal Dutch Shell (RDS) in English courts after years of oil spills in the region contaminated land and groundwater. Senior judges said there was an arguable case that UK-domiciled Shell, one of…
February 12, 2021
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By Abiola Olawale The Federal High Court in Lagos has granted an interim Mareva injunction directing 20 commercial banks to block accounts of Shell Petroleum Development Company (SPDC) and its affiliate companies, in a bid to recover the cash equivalent to the alleged loss of 1.02 million barrels of crude oil suffered by Aiteo Eastern…
February 18, 2021
Amidst rumours of an impending hike in the pump price of petrol, the National Bureau of Statistics (NBS) announced on Tuesday that the country’s headline inflation climbed to 16.47 per cent in January 2021. Food inflation also rose to 20.57 per cent in January, from 19.56 per cent in December 2020. Inflation soared at 15.75…
February 17, 2021
From Segun Amure, (The New Diplomat's Abuja Bureau) The Nigerian Petroleum Corporation, (NNPC) on Monday, summoned major marketers, independent marketers and other stakeholders to deliberate on petrol price as the landing cost of the product rose from N151 to N180 per litre, due to the ongoing oil price rally at the international market. The rise…
February 16, 2021
By Abiola Olawale Deluge of congratulatory messages has been posted around the globe to felicitate with the Dr Ngozi Okonjo-Iweala, Nigeria’s former Minister of Finance who was officially named as the Director General (DG) of the World Trade Organization (WTO), Monday. Her appointment was confirmed in a statement by the WTO Monday, following the General…
February 15, 2021
By Abiola Olawale The Royal Dutch (RDS) Shell has filed a suit against the Nigerian government at the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) over a $479 million compensation claim following the environmental ruins in Ejama-Ebubu, Rivers state. Shell is challenging an order of Supreme Court of Nigeria, on November 30,…
February 15, 2021
New DG Lays Out Plans For WTO At General Council After months of geopolitics, Dr Ngozi Okonjo-Iweala, Nigeria’s former Minister of Finance and development economist has been confirmed as Director General (DG) of the World Trade Organization (WTO). Her appointment was confirmed in a statement by the WTO Monday, following the General Council Meeting of…
February 15, 2021
From Ameachi Prosper (The New Diplomat's Delta Correspondent) A liquid substance suspected to be crude oil has been discovered gushing from the ground in the non-oil-producing community of Otuabula 2, in Ogbia Local Government Area of Bayelsa State. The National Oil Spill Detection and Response Agency (NOSDRA) has taken samples for testing after visiting the…
February 14, 2021
The Nigerian government has raised its borrowing limit from 25 per cent of its Gross Domestic Product (GDP) to 40 per cent, the Debt Management Office (DMO) disclosed this in a document. The DMO said the Federal Executive Council (FEC) at its meeting on February10 approved the new Medium-Term Debt Management Strategy for Nigeria, for…
February 14, 2021
With Agency Report -- In a landmark ruling, the UK Supreme Court on Friday allowed 42,500 Niger Delta farmers and fishermen to sue Royal Dutch Shell (RDS) in English courts after years of oil spills in the region contaminated land and groundwater. Senior judges said there was an arguable case that UK-domiciled Shell, one of…
February 12, 2021
