Business Specials

How Michael Aondoakaa’s rice business attracted America’s attention

The former minister wants to be remembered as a major contributor in the diversification of the Nigerian economy.

INTERVIEW: Why borderless economies are best for Africa — Sahara Group CEO

“Today, the low oil price has opened up Africa to other African countries, because they know we are here and we know the problems.”

Ahmed Idris

15 things to know about Treasury Single Account (TSA)

The list gives answers to Frequently Asked Questions (FAQs) on TSA

With Nigeria democratically stable, investors will pour in – Vera Nwanze, Country Manager, PMINTL Nigeria

“So long as leading investors from across the world are attracted to any economy, it will continue to witness growth.”

EITI gets new Chair, as Clare Short prepares to step down next month

Outgoing EITI Chair to visit Nigeria on February 7, 2016

NLNG

NLNG: New report reveals how Nigeria lost N650billion in dubious tax exemption

The report says there is no record the the NLNG paid a deferred $1.15 billion corporate tax for 2012 to the Nigerian government

Crude oil price nears 17-year low as Senators, Reps prepare to discuss budget

Crude oil price drops further to $25.69.

INTERVIEW: We’re anxiously waiting for removal of fuel subsidy — PPPRA workers’ union leader

“The personnel are currently restricted with the subsidy regime.”

INTERVIEW: No single case of corruption in NERC under my leadership – ex-NERC boss, Amadi

Mr. Amadi says Nigeria’s independent power producers can generate 32,000 megawatts.

NNPC Towers

‎Buhari announces plans to raise panel on NNPC reforms

The president spoke when he received the CEO of the International Finance Corporation

Cars queuing to buy petrol

NNPC filling stations to sell petrol at N86 per litre from Jan. 1, says PPPRA

“If there is no major shift, the price would continue from January to March 2016.”

NNPC Towers

NNPC adopts fresh measures to guarantee nationwide fuel supply

NNPC ​is ​working to ensure full efficiency of ​the ​country’s refineries.

INTERVIEW: Oil workers will resist fuel subsidy removal – PENGASSAN President

Oil workers say they don’t oppose the deregulation of the sector, but they want a holistic implementation of the policy.

NNPC Towers

Nigeria scraps fuel subsidy, cuts petrol price to N85 per litre

An attempt by the government to cut fuel subsidy in 2012 led to what came to be known as the #OccupyNigeria protest.

Kaduna Refinery boosts local fuel supply with 3.2 million litres of petrol, says NNPC

Fuel production in Kaduna Refinery increased from 1.5 million litres per day to 3.2 million litres of petrol daily

Minister of Finance, Kemi Adeosun

Finance minister revokes oil, gas pre-shipment tender process

​The ministry is to come up with fresh bidding process.

2016 Budget Speech: “The Budget of Change”, By Muhammadu Buhari

The Nigerian economy needs to move away from dependency on oil. Our growth must be inclusive.

A Refinery used to illustrate the story.

Kaduna refinery restarts production

The refinery will produce 1.6 million litres of petrol daily.

Redrafted PIB stirs fresh anxiety among oil workers

Three groups petition PENGASSAN, demand urgent meeting with Minister Ibe Kachikwu

NEITI hails plan to remove fuel subsidy

Labour opposes the plan to remove fuel subsidy.

NNPC awards new crude oil lifting contracts to 21 firms

Nigerian firms were awarded contract to lift 41 per cent of total crude allocation.

A Refinery used to illustrate the story.

Two refineries to restart production before 2016 – Minister

The government is considering engaging private investors to build new refineries.

Dutch court set to rule on case seeking to hold Shell liable for Niger Delta degradation

The United Nations says it would cost $1 billion in five years to clean Ogoni land alone, which is just one area of Shell’s operation.

Nigeria to revert petrol price to N97 per litre in gradual phase-out of subsidy

Mr. Kachikwu says total subsidy figure for 2015 is in excess of N1trillion

Oil rig

Glut likely as oil tumbles towards 11-year lows

Gulf producers and Russia say they won’t cut output.