May 28, 2023
Nigeria: Nigeria Releases Norwegian Vessel Convicted of Oil Theft
"The Very Large Crude Carrier (VLCC), MT Heroic Idun and its 26 foreign crew were arrested after entering Nigeria's waters unauthorized with intent to lift crude oil." Read more »
May 26, 2023
Nigeria: NUPRC Issues New Laws to Regulate Nigeria's Oil Sector
An official said twelve (12) regulations have so far been concluded and issued by the commission Read more »
Africa: African Operations Contribute 50% to UBA's Earnings - CEO
"As of last month, none of our African subsidiaries is making a loss," she said. Read more »
Nigeria: IMF, Stakeholders Task Tinubu On Revenue Generation, Debt Reduction
IMF also advises the incoming government of President-elect Tinubu to drastically reduce dependence on debt to fund expenditure. Read more »
May 25, 2023
Nigeria: Women Decision-Makers Can Improve Conservation and Agriculture, Study Shows
The findings complement a growing body of research that highlights the important influence women can have in effective and efficient management of both natural resources and… Read more »
Nigeria: Nigerian Health Workers Begin Indefinite Strike
JOHESU is the association of health workers apart from medical doctors and dentists Read more »
Nigeria: Health Unions in Ondo Disagree Over Nationwide Strike
JOHESU declared an indefinite strike from Friday after the expiration of a 15-day ultimatum to the federal government. Read more »
May 24, 2023
Nigeria: Central Bank Increases Interest Rate to 18.5%
The CBN governor, Godwin Emefiele, announced this Wednesday after the bank's Monetary Policy Committee (MPC) meeting that began Tuesday. Read more »
Nigeria: Nigeria's Economy Slowed to 2.31% in Q1 2023 Amid Cash Crunch
NBS said the reduction in growth is attributed to the adverse effects of the cash crunch experienced during the quarter. Read more »
May 23, 2023
Nigeria: NNPCL to Boost Oil Reserves As Fresh Drilling Begins in Borno
Borno State Governor Babagana Zulum noted that oil prospecting and exploration in Borno will create job opportunities for young people Read more »
Nigeria: Central Bank Revokes Licences of 132 Microfinance Banks, Others
The CBN Governor, Godwin Emefiele, revoked the licenses in the exercise of the powers conferred on the Central Bank of Nigeria Read more »
Nigeria: Nigerian Petroleum Agency to Begin Licensing Enforcement By June
An official said that some organisations are operating outside the regulatory oversight which is not in accordance with the Petroleum Industry Act (2021). Read more »
May 22, 2023
Nigeria: Dangote Already Repaying Loans Taken to Build Refinery - Emefiele
"I am pleased to inform everyone today that, following extensive repayments, outstanding debt has dropped appreciably from over US$9 billion to US$2.7 billion," Mr Emefiele said. Read more »
May 23, 2023
Nigeria: As Nigeria Inaugurates Significant Oil Refinery, African Parliamentarians Discuss Climate Change Concerns
According to the WHO African Region, climate change is expected to cause approximately 250,000 additional deaths per year between 2030 and 2050. Read more »
May 22, 2023
Nigeria: OPL 245 Scam - U.S., Netherlands Urged to Reopen Investigations
Both the US and the Netherlands had previously opened investigations into the OPL 245 deal but closed them due to a court case in Italy. Read more »
Nigeria: Dangote Refinery Game Changer for Nigerian Economy - Buhari
"I am confident that my successor, His Excellency Asiwaju Bola Ahmed Tinubu, will sustain the improvement in our economic and business environment...," the president said. Read more »
Nigeria: Our Refinery Will Supply First Product to Market By July - Dangote
"This is a clear opportunity for Nigeria given the African Union's commitment to the creation of an African Common Market through the recently established African Continental Free… Read more »
May 18, 2023
Nigeria: Naira Depreciates Further At Official Market
Naira extended losses on the spot market to trade at N465.13 per $1 on Wednesday amidst rising debt profile. Read more »
May 21, 2023
Nigeria: Afe Babalola Urges Incoming Federal Government to Seek Debt Relief for Nigeria
Mr Babalola also enjoined the incoming administration to cut expenditures and undertake reforms to scale down governance costs and ease the country's fiscal burden. Read more »
May 20, 2023
Nigeria: Resident Doctors Sign Memorandum of Understanding With Nigerian Govt
The NARD said its National Executive Council (NEC) will decide on the timelines set in the content of the MoU. Read more »
Nigeria: NUPRC Set to Unlock Nigeria's Potential in Upstream Petroleum Sector - Official
Despite the global clamour for decarbonization and energy transition, oil and gas remain relevant in the global energy mix, an official said. Read more »
May 19, 2023
Nigeria: NNPC Ltd Clears $3.8bn Indebtedness to IOCs - Official
"We have seen the worst, lessons have been learnt, and the solutions are being institutionalised to ensure we never see a repeat," an official said. Read more »
Nigeria: Nigeria Commences Construction of Vaccine Hub
The minister said each of the hubs was centralised to serve two geopolitical locations. Read more »
May 18, 2023
Nigeria: African Development Bank Approves $15 Million Loan to Support Infrastructure Financing in Nigeria
The financing will enable InfraCredit to leverage domestic capital markets to bolster access to long-term local currency infrastructure financing in Nigeria. Read more »
Nigeria: Nigerian Govt Arraigns Three Chinese Citizens Over Alleged Illegal Mining
The Chinese nationals pleaded not guilty to the three charges, including conspiracy and illegal mining offences. Read more »