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Buhari’s govt owes $47 Billion to the Nation’s Central Bank
Nigeria said it owes 20 trillion naira ($47 billion) to its central bank and the obligations are yet to be added to the African nation’s outstanding public debt, according to a report by the budget office. The debt figure is…
Dangote, Adenuga, Rabiu dominate Africa’s billionaire index
Sopuruchi Onwuka Chairman of Dangote Group, Aliko Dangote, is in comfortable position as Africa’s richest man, West Africa’s leading billionaire and Nigeria’s wealth symbol. Besides just being a dollar billionaire, Aliko owns and runs Africa’s biggest manufacturing industries, being the…
Capacity crunch: OPEC+ squeezes additional 100 kbd output
The world’s major oil producers hosted in the Organization of Petroleum Countries (OPEC) and its nonmember coalition countries will increase their controlled oil output by only 100,000 barrels per day under the its scheduled supply restoration. OPEC and its allies,…
OPEC+ posts 2.84 mbd underproduction in June
Sopuruchi Onwuka Hopes that the Organization of Petroleum Exporting Countries (OPEC) and its coalition members can rapidly rise to the challenge of supply gaps in the international oil market is beginning to fade as gaps between the groups output projections…
Naira takes deep plunge as CNB closes more windows
The Nigerian Naira rolled downhill on Wednesday in the foreign exchange market after the Central Bank of Nigeria (CBN) shut out bureau de change operators from its trading windows. At the parallel market where foreign exchange is most accessible to…
APPO visits NCDMB, NOGaPs, seeks collaboration in capacity building
A delegation from the African Petroleum Producers Organization (APPO) has paid a two-day study visit to the headquarters of the Nigerian Content Development and Monitoring Board (NCDMB). Part of the facilities inspected during the visit includedthe 17-storey Nigerian Content Tower…
Divestment presents opportunity for indigenous capacity growth -– Seplat
In this era of divestments by the International Oil companies (IOCs) from Nigeria, indigenous energy companies with the right competences and wherewithal are natural partners to government in the quest to harness oil and gas assets, the Chief Executive Officer,…
NCDMB commends Caverton on integrated offshore support service
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has lauded Caverton Offshore Support Group on its growth towards being a fully integrated offshore support company in Sub-Saharan Africa. Engr. Wabote spoke through…
NCD: Wabote commissions Coleman’s fibre optic cable plant
An oil and gas service company, Coleman Technical Industries Limited (CTIL) on Friday opened its multi-billion-dollar fibre optic cable manufacturing factory, hoping to take advantage of the African Continental Free Trade Area (AfCFTA) to play big in the African market….
S. Arabia can’t violate OPEC quota, ministers tells Biden
Sopuruchi Onwuka, with agency reports The Kingdom of Saudi Arabia is committed to output decisions of the members of the Organization of Petroleum Exporting Countries (OPEC) and its coalition producers, officials affirmed to the visiting President of the United States…
