With a cost of production of $28.99, Nigeria is now the third most expensive country to produce oil in the world. Nigeria stands behind UK and Brazil, who produce a barrel of oil at $44.33 and $34.99 respectively. According to … read more
Boko Haram militants opened fire at a funeral in northeast Nigeria, killing 18 mourners including many women and children, officials and witnesses said Friday. The attack occurred late Thursday night in the Madagali area of Adamawa state near the Sambisa … read more
Nigeria’s president has extended a 10-day sick leave stay in London by at least four days, with his deputy saying he is “in perfect health and ready to resume work on Monday”, getting ahead of possible rumors about the septuagenarian’s … read more
Nigerian police has announced that a fuel leak caused the explosion of the national oil company pipeline on Thursday, a blast which militant group Niger Delta Avengers claimed to have caused. A Nigerian National Petroleum Corporation (NNPC) oil pipeline in … read more
House of Representatives Speaker Yakubu Dogara has ordered an investigation into three members of the house who have found themselves embroiled in a sex scandal. According to a Punch report, the scandal was confirmed by the Chairman of the House … read more
A secessionist group, Utorogun Liberation Movement, ULM, surfaced, Thursday, in Delta State, vowing to destroy the Utorogun Gas Plant, Ughelli, which supplies gas to Egbin Power Station, Lagos, and other facilities under Oil Mining Lease, OML 34 in Ughelli South … read more
Barring any last minute changes in plan, President Muhammadu Buhari is expected back in the country on Thursday (today) from London. Buhari had penultimate Monday commenced a 10-day holiday and proceeded to London on the same day. The Presidency had, … read more
Nigerian gay rights activists have condemned a senior soccer official after he said sponsors were reluctant to back women’s soccer in the country because of a misconception that female footballers are “synonymous with lesbianism”. Seyi Akinwunmi, the Nigeria Football Federation … read more
The Central Bank of Nigeria, CBN, on Wednesday formally unveiled the much-awaited flexible foreign exchange policy that would allow the foreign exchange interbank trading window to be driven purely by market forces. The new policy effectively removes controls on the … read more
Nigeria will float its embattled naira currency, the Central Bank governor announced on Wednesday after months of pressure to control a spiraling crisis in Africa’s biggest economy. Governor of the Central Bank of Nigeria, Godwin Emefiele told reporters the naira … read more