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The Organization of Petroleum Exporting Countries, (OPEC) and its allies (OPEC+), on Wednesday jerked up Nigeria’s oil quota to 1.830 million barrels per day above the current 1.4 mb/day. The new quota will take effect from September 2022, while 1.826 mb/d was approved for August 2022. The announcement comes as prices of many crudes, including…
August 3, 2022
By 'Dotun Akintomide in Lagos-Nigeria and PATRICK MAYOYO in Kenya On the pretext of fishing in international waters, fleets of vessels from China and some European Union countries often cross red lines at sea to trawl African waters and loot the continent's most sought-after fish species. For the countries situated along the African coasts, this…
August 3, 2022
Over 107 countries including Ghana, South Africa, Egypt, Argentina are in the throes of imminent economic collapse due to the wave of financial crisis that has hit the world, a report has sounded the alarm. 25 of the countries are said to be in Africa, 25 in the Asia and 19 in Latin America as…
July 5, 2022
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has awarded Petroleum Prospecting Licences (PPLs) to 161 successful 2020 marginal fields awardees. The commission also officially unveiled the Host Communities Development Regulations and model Petroleum Prospecting Licences (PPLs). Chief Timipre Sylva, the Minister of State Petroleum Resources, at the unveiling and licences presentation on Tuesday in Abuja…
June 29, 2022
The World Bank yesterday raised its forecast for Nigeria’s public debt to 36 per cent of Gross Domestic Product, GDP, in 2022, citing worsening revenue collection at the federation level, which is increasing budgetary pressures and pushing many states into precarious fiscal positions. The new forecast is 3.7 percentage points higher than the 32.3 per…
June 15, 2022
The world ecosystem has lost $186bn in the last ten years as a result of cigarette butts and tobacco plastic wastes estimated to have made their way to the oceans, a report published by the Global Center for Good Governance in Tobacco Control (GGTC) has revealed. The report was released as nations mark this year’s…
June 10, 2022
A Federal High Court in Ikoyi, Lagos State has convicted a Chinese national, Li Lei Lei of mutilation of the Nigerian currency -- the Naira. The presiding judge, Justice I. Nicholas Oweibo, in his ruling, subsequently sentenced him to a two-year jail term. This was sequel to the lawsuit filed by the Lagos State Zonal…
June 1, 2022
Civil society groups that converged on Benin City, the Edo State capital on Friday May 27 have warned that the current model of divestment by International Oil Companies (IOCs) operating in the Niger Delta will cause local communities to lose economic power. They drew the conclusion at a Civil society roundtable on IOC Divestment from…
May 28, 2022
The Federal Government has clarified it has no plan of banning or suspending the operations of social media giant, Facebook, unless it continues to promote the incisive activities of the outlawed Indigenous People of Biafra (IPOB). Minister of Information and Culture Lai Mohammed stated this while addressing State House Correspondents after the weekly virtual Federal…
May 19, 2022
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The Organization of Petroleum Exporting Countries, (OPEC) and its allies (OPEC+), on Wednesday jerked up Nigeria’s oil quota to 1.830 million barrels per day above the current 1.4 mb/day. The new quota will take effect from September 2022, while 1.826 mb/d was approved for August 2022. The announcement comes as prices of many crudes, including…
August 3, 2022
By 'Dotun Akintomide in Lagos-Nigeria and PATRICK MAYOYO in Kenya On the pretext of fishing in international waters, fleets of vessels from China and some European Union countries often cross red lines at sea to trawl African waters and loot the continent's most sought-after fish species. For the countries situated along the African coasts, this…
August 3, 2022
Over 107 countries including Ghana, South Africa, Egypt, Argentina are in the throes of imminent economic collapse due to the wave of financial crisis that has hit the world, a report has sounded the alarm. 25 of the countries are said to be in Africa, 25 in the Asia and 19 in Latin America as…
July 5, 2022
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has awarded Petroleum Prospecting Licences (PPLs) to 161 successful 2020 marginal fields awardees. The commission also officially unveiled the Host Communities Development Regulations and model Petroleum Prospecting Licences (PPLs). Chief Timipre Sylva, the Minister of State Petroleum Resources, at the unveiling and licences presentation on Tuesday in Abuja…
June 29, 2022
The World Bank yesterday raised its forecast for Nigeria’s public debt to 36 per cent of Gross Domestic Product, GDP, in 2022, citing worsening revenue collection at the federation level, which is increasing budgetary pressures and pushing many states into precarious fiscal positions. The new forecast is 3.7 percentage points higher than the 32.3 per…
June 15, 2022
The world ecosystem has lost $186bn in the last ten years as a result of cigarette butts and tobacco plastic wastes estimated to have made their way to the oceans, a report published by the Global Center for Good Governance in Tobacco Control (GGTC) has revealed. The report was released as nations mark this year’s…
June 10, 2022
A Federal High Court in Ikoyi, Lagos State has convicted a Chinese national, Li Lei Lei of mutilation of the Nigerian currency -- the Naira. The presiding judge, Justice I. Nicholas Oweibo, in his ruling, subsequently sentenced him to a two-year jail term. This was sequel to the lawsuit filed by the Lagos State Zonal…
June 1, 2022
Civil society groups that converged on Benin City, the Edo State capital on Friday May 27 have warned that the current model of divestment by International Oil Companies (IOCs) operating in the Niger Delta will cause local communities to lose economic power. They drew the conclusion at a Civil society roundtable on IOC Divestment from…
May 28, 2022
The Federal Government has clarified it has no plan of banning or suspending the operations of social media giant, Facebook, unless it continues to promote the incisive activities of the outlawed Indigenous People of Biafra (IPOB). Minister of Information and Culture Lai Mohammed stated this while addressing State House Correspondents after the weekly virtual Federal…
May 19, 2022
