Tag: oil prices

W’Bank: FG, States Won’t Be Able To Pay Salaries In 2022 If Fuel Subsidy Is Retained

World Bank

Kyari: NNPC may start invoicing the federation to maintain subsidy Finance Minister reveals plan to introduce transport grant for vulnerable Nigerians El-Rufai: Despite oil prices rising globally, there is no Read More

NNPC Picks 16 Companies For New Crude Oil-swap Deal

Nigerian National Petroleum Corporation (NNPC)

Again, prices near $70 The Nigerian National Petroleum Corporation (NNPC) has picked 16 consortia for its new crude-for-fuel swap contracts for one year starting in August. A report yesterday by Read More

Rising Oil Price Puts More Pressure On NNPC’s Finances

Crude oil

Labour canvasses alternative petrol pricing method Seeks three-year gas price moratorium Crude oil extended its gains at the weekend after closing at a six-week high with signs of strengthening demand Read More

Report: FG’s Revenue Falls By 12.8% To N807bn In January

Central Bank of Nigeria (CBN)

Expenditure rises by 7% to N771bn The total amount of revenue generated by the Federal Government in January 2021 was N807.54 billion. This was 12.8 per cent lower than the Read More

OPEC, Allies Agree To Ease Oil Production Curbs

Organisation of the Petroleum Exporting Countries (OPEC)

Transparency influenced financing deal for refinery rehabilitation, says NNPC The Organisation of Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, yesterday resolved to gradually ease its oil output Read More

NNPC Reduces Cash-call Debts To IOCs By $3.11bn

Nigerian National Petroleum Corporation (NNPC)

FG, labour to meet mid-April on petrol pricing Tanker drivers threaten strike The Nigerian National Petroleum Corporation (NNPC) has so far paid a total of $3.118 billion cash-call debts owed Read More

At $66, Soaring Oil Price Reinforces Imminent Hike In Petrol Cost

Crude oil

House investigates alleged breach of local content in $2.6bn AKK project The increase in the pump price of petrol has become imminent as Brent crude oil, against which Nigeria’s oil Read More

FG To Convert N10tn CBN Financing To 30-year Debt

Director-General, the Debt Management Office (DMO), Ms. Patience Oniha

The Federal Government has set the terms for the conversion of its stock of Central Bank of Nigeria (CBN) overdrafts into long-term notes in a bid to create transparency around Read More

IMF Backs CBN, Cautions Against Cryptocurrency Transactions

International Monetary Fund (IMF)

The International Monetary Fund (IMF) has cautioned against transacting in cryptocurrency, saying regulating the digital currency remains a concern not just to the Central Bank of Nigeria (CBN) but to Read More

Analysts Project $100 Supercycle For Oil Post-pandemic

Oil rig

Barkindo: Industry investments declined by 30% in 2020 A steady rise in oil prices since late last year could presage a new ‘supercycle’ in oil as the world economy recovers Read More