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The Federal Executive Council (FEC) received a report about Nigeria’s 3.1 per cent economic growth in the first quarter of 2022 at its weekly meeting on Wednesday. Zainab Ahmed, the minister of Finance, Budget and National Planning, made the declaration at the end of the meeting presided by Vice President Yemi Osinbajo. The minister noted,…
June 2, 2022
There are indications that the Nigerian government could spend more on the importation of fuel into the country as oil rose to nearly $100 a barrel on Tuesday, reaching its highest level since 2014, amid the ongoing tension over armed conflict between Russia and Ukraine alongside its Western allies. The New Diplomat reports oil prices…
February 23, 2022
The Federal Government is seeking the extension of the implementation of the total removal of subsidy on Premium Motor Spirit (PMS), otherwise known as petrol by another 18 months. Minister of State for Petroleum Resources, Chief Timipre Sylva, made this disclosure during a press briefing with the State House Correspondents on Tuesday. Speaking during the…
January 25, 2022
Less than two days after its launch by the Central Bank of Nigeria (CBN), the eNaira application has been removed from Google Play Store after series of complaints by users. The digital currency has two applications, which are eNaira speed wallet and eNaira merchant wallet. They were rolled out on the Google play store and…
October 28, 2021
...While oil and gas companies come under pressure to reduce production, the world’s thirst for new supply is only growing ...Without a significant uptick in investment, demand for oil and gas will surpass supply in the not-so-distant future ...This disconnect between the political desire for less fossil fuels and the global hunger for fossil fuels…
October 27, 2021
...The oil price rally is far from over, with inventory drawdowns across the world suggesting the market is far from being balanced ...OPEC+ appears in no rush to add supply to markets and appears to be producing below its self-imposed production ceiling ...The steepest 12-month Brent backwardation since 2013 is yet another bullish indicator for…
October 21, 2021
Oil prices rose early on Monday, extending Friday’s gains and hitting fresh multi-year highs “Over-compliance by the OPEC+ on output cuts have been helping crude oil supplies to remain tight,” Join Our Community Oil prices rose early on Monday, extending Friday’s gains and hitting fresh multi-year highs, as the energy crisis in Europe and Asia…
October 18, 2021
Brent oil futures topped $85 a barrel for the first time since October 2018, the latest milestone in a global energy crunch that has seen prices soar. Crude futures have jumped in recent weeks as natural gas prices hit records. On Thursday, the International Energy Agency said the crisis is spilling into oil markets and…
October 16, 2021
The Accountant-General of the Federation (AGF), Alhaji Ahmed Idris, has reaffirmed the Federal Government’s commitment to deepening transparency, accountability and efficiency of public resources for common good. Idris, represented by Mr Salawu Zubairu, the Director in-charge of Consolidated Account at the Office of the AGF, said this at the closing ceremony of the two-day 2021…
October 15, 2021
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The Federal Executive Council (FEC) received a report about Nigeria’s 3.1 per cent economic growth in the first quarter of 2022 at its weekly meeting on Wednesday. Zainab Ahmed, the minister of Finance, Budget and National Planning, made the declaration at the end of the meeting presided by Vice President Yemi Osinbajo. The minister noted,…
June 2, 2022
There are indications that the Nigerian government could spend more on the importation of fuel into the country as oil rose to nearly $100 a barrel on Tuesday, reaching its highest level since 2014, amid the ongoing tension over armed conflict between Russia and Ukraine alongside its Western allies. The New Diplomat reports oil prices…
February 23, 2022
The Federal Government is seeking the extension of the implementation of the total removal of subsidy on Premium Motor Spirit (PMS), otherwise known as petrol by another 18 months. Minister of State for Petroleum Resources, Chief Timipre Sylva, made this disclosure during a press briefing with the State House Correspondents on Tuesday. Speaking during the…
January 25, 2022
Less than two days after its launch by the Central Bank of Nigeria (CBN), the eNaira application has been removed from Google Play Store after series of complaints by users. The digital currency has two applications, which are eNaira speed wallet and eNaira merchant wallet. They were rolled out on the Google play store and…
October 28, 2021
...While oil and gas companies come under pressure to reduce production, the world’s thirst for new supply is only growing ...Without a significant uptick in investment, demand for oil and gas will surpass supply in the not-so-distant future ...This disconnect between the political desire for less fossil fuels and the global hunger for fossil fuels…
October 27, 2021
...The oil price rally is far from over, with inventory drawdowns across the world suggesting the market is far from being balanced ...OPEC+ appears in no rush to add supply to markets and appears to be producing below its self-imposed production ceiling ...The steepest 12-month Brent backwardation since 2013 is yet another bullish indicator for…
October 21, 2021
Oil prices rose early on Monday, extending Friday’s gains and hitting fresh multi-year highs “Over-compliance by the OPEC+ on output cuts have been helping crude oil supplies to remain tight,” Join Our Community Oil prices rose early on Monday, extending Friday’s gains and hitting fresh multi-year highs, as the energy crisis in Europe and Asia…
October 18, 2021
Brent oil futures topped $85 a barrel for the first time since October 2018, the latest milestone in a global energy crunch that has seen prices soar. Crude futures have jumped in recent weeks as natural gas prices hit records. On Thursday, the International Energy Agency said the crisis is spilling into oil markets and…
October 16, 2021
The Accountant-General of the Federation (AGF), Alhaji Ahmed Idris, has reaffirmed the Federal Government’s commitment to deepening transparency, accountability and efficiency of public resources for common good. Idris, represented by Mr Salawu Zubairu, the Director in-charge of Consolidated Account at the Office of the AGF, said this at the closing ceremony of the two-day 2021…
October 15, 2021
