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World Bank projects 4.4% growth for Nigeria
Nigeria’s economy is projected to grow by an average of 4.4 per cent annually through 2028, with inflation and poverty expected to decline if the government sustains economic reforms and improves public service delivery, the World Bank has said. In…
G7 agrees 100 Mbbls emergency oil to ease supply squeeze
The International Energy Agency (IEA) said Saturday that its member countries had so far released about 325 million barrels of oil and oil products from strategic reserves, representing more than 80 per cent of the 400 million barrels pledged in…
AfDB targets $4trn domestic capital to close Africa’s financing gap
The African Development Bank (AfDB) is engaging financiers on a strategy to mobilise about $4 trillion in untapped domestic capital across Africa to help fund the continent’s development needs, as the region grapples with an estimated $400 billion annual financing…
From subsidy shock to debt trap: Tinubu’s reforms meet rising debt wall
Sopuruchi Onwuka President Bola Tinubu’s declaration that the worst pains of his economic reforms are over is being tested by a debt burden that has continued to expand, potentially extending fiscal pressures even as the government shifts its emphasis towards…
Dangote canvasses dom-refining ecosystem
Chiarman of Dangote Industries Limited, Alhaji Aliko Dangote, has urged the government to create the commercial, regulatory and infrastructure conditions required to make domestic refining sustainably competitive. In his remarks at the Nigeria Oil Refining Summit in Lagos, Dangote cautioned…
FG woos long-term capital, pledges regulatory certainty for refiners
Federal government has declared that it is implementing policies that drive fundamental shift in Nigeria’s petroleum industry from crude export dependence to an integrated resource value chain that captures greater value from domestic production. Minister of State for Petroleum Resources…
IPPG demands bankable crude market to sustain Nigeria’s refining drive
The Independent Petroleum Producers Group (IPPG) has urged Nigerian petroleum industry stakeholders to shift the prevailing refining debate from installed capacity and regulatory mandates to the more fundamental task of building a commercially viable and reliable crude supply system, warning…
Petroleum licensing: Time to end politics, embrace global best practices
Sopuruchi Onwuka Nigeria’s increasingly aggressive use of petroleum licensing rounds to attract investment, expand exploration and raise oil and gas production risks producing the opposite of the desired outcome if the management of license awards continues to leave critical commercial…
NCDMB deepens China ties, imports manufacturing capacity, technology transfer
The Nigerian Content Development and Monitoring Board (NCDMB) has intensified efforts to attract Chinese investment, manufacturing capacity and technology into Nigeria’s oil and gas industry, engaging more than 100 Chinese Original Equipment Manufacturers (OEMs) in Chengdu, China. The engagement formed…
NCDMB launches LearnFest for understanding Local Content processes
The Nigerian Content Development and Monitoring Board (NCDMB) has inaugurated the LearnFest Lecture Series, a continuous learning platform designed to strengthen the capacity of its staff and oil and gas industry stakeholders to effectively understand and implement Nigerian Content policies…
