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NCDMB to activate Ondo Oil and Gas Park project
Actual construction of a low-cost manufacturing hub for equipment components and spare parts used in the oil and gas industry will start in Ondo State soonest, according to the Nigerian Content Development and Monitoring Board (NCDMB). Located at Ilaje, Ilaje…
Analyst proffer strategies as Tinubu’s policies push millions into poverty
Sopuruchi Onwuka Hopes of reprieve from the new administration of President Bola Tinubu take deeper dive as his early economic measures trigger inflation, stifle earning opportunities and erode values from existing wealth. Since the new government came into effect on…
NNPC boosts federation account with N123 bln
Sopuruchi Onwuka The Nigerian National Petroleum Company (NNPC) Limited has declared remittance of N123 billion to the federation account, enabling the three tiers of government to share N907.054 billion to meet state obligations to citizens in June. NNPC Chief Financial…
NUPRC sets up regulatory against revenue loss
As part of the effort to stop oil theft and illegal financial flows in the country, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that the commission has come up with a policy framework that will enhance proper monitoring,…
Nigerian business leaders consider drive to back poorest as prices surge
Nigeria’s private sector should work with the government to develop welfare initiatives after economic reforms left people struggling with the cost of living, the country’s top business leaders told Semafor Africa, according to a report by Semafor. President Bola Tinubu…
FG tightens the screw against borrowers
The Central Bank of Nigeria will likely continue raising its key interest rate in the coming days and months to support a devalued naira, according to a report by Reuters and reviewed by The Oracle Today. The report stated that…
Will palliatives compensate for inflation impacts?
Sopuruchi Onwuka Federal government says the Central Bank of Nigeria (CBN) will begin distribution of grains and fertilizer from Monday as part of the efforts to cushion the impact of fuel subsidy removal and the associated jumps in the prices…
Analysts hiss as FG celebrates N5.6 trn H1 tax income
Sopuruchi Onwuka Federal government recorded slight increment in tax revenues in the first half of the year despite the palpable depression in the economy associated with depreciation in the value of the Naira and jumps in inflation. The N5.6 trillion…
New facts emerge on NNPC operations, record profit claim confirmed
Fresh facts emerging from the operations of the NNPC Ltd. have provided new insight into the activities of the company, affirming that the firm actually made a whopping profit of N674.1 billion in 2021.The latest facts appear to contradict some…
Seplat cites operating terms, domgas pricing as investment baits
Sopuruchi Onwuka Nigeria must offer attractive operating terms and reform the domestic gas market in order to attracts the required level of commercial investments in revving up activity and delivering prime economic aspirations in the petroleum industry. Managing Director of…
