Nigeria’s plan to release $4 billion of its oil savings to the federal and state governments between now and June is unconstitutional and the payment must be in naira, the presidency said on Friday. The central bank and the finance … read more
The 250,000 barrels of crude oil produced by Total/Elf Oil Company is under threat following a standoff between the company and its over 2,000 employees The workers, under the aegies of National Union of Petroleum and Natural Gas Workers (NUPENG) … read more
BETWEEN 2006 and 2007, Nigeria lost about N53.8 billion to petroleum pipeline vandalisation, Nigerian National Petroleum Corporation (NNPC) has said. In a presentation to the Senate Committee on Petroleum (Down Stream) yesterday at the National Assembly, NNPC Managing Director, Abubakar … read more
AS 28 nations gather in New York, United States, to discuss the unwholesome influx of arms which has fuelled conflicts and poverty in Africa and other third world countries, the impact of the problem on the ongoing militancy in the … read more
Royal Dutch Shell yesterday suspended plans to cut the costs of running its Nigerian operations, a move prompted by the government’s desire to discuss ways to pay its share of investment in oil and gas joint ventures. Shell last year … read more
JUSTICE Ibrahim Auta of the Federal High Court in Lagos on Thursday fixed March 24 for his ruling on whether or not to vacate the interim injunction granted to Virgin Nigeria over dispute on Federal Government�s directive on domestic flights. … read more
AP) _ Angola has extradited to Nigeria a man believed to be a leader of a Nigerian militant group that has attacked foreign oil installations, officials said Friday. Henry Okah, long rumored to be behind the Movement for the Emancipation … read more
No fewer than 6 persons were feared dead, yesterday, in Imeko, Imeko Afon Council Area of Ogun state, when men of the Nigerian Customs Service stationed in the area engaged smugglers of fairly used cars , popularly called Tokunbo, in … read more
Nigeria received $6,084,364,075 (about N720bn) assistance from foreign countries, international agencies and non-governmental organisations during the administration of former of former President Olusegun Obasanjo, the Minister in charge of National Planning Commission, Senator Sanusi Dagash, has said. Daggash, who appeared … read more
Four people, including a nine-day-old baby, were feared dead and others still trapped late on Wednesday when a two-storey building on 6 Okepopo Street on Lagos Island collapsed. The Senior Special Adviser to the Governor of Lagos State, Mr. Hakeem … read more