Navy Renews Onslaught on Crude Oil Theft in N’Delta

  The Nigerian Navy at the weekend intensified the destruction of illegal refineries in the Niger Delta, with the activation of a fresh onslaught, codenamed operation ‘Ex Toru-Gbown (waterways protection)’ in the region.   During the exercise which had been on for four days, at least a hundred finished illegal refineries were destroyed, while several […]

Nigeria seeks arrest, extradition of former oil minister

  Nigeria’s main anti-corruption agency on Monday filed for the arrest of former oil minister Diezani Alison-Madueke after a judge approved a request for her to be charged with corruption.   ADVERTISEMENT The Economic and Financial Crimes Commission (EFCC) said in a statement the application for warrant of arrest was a “condition precedent for Diezani’s […]

We’ll prosecute top Nigerians in Malabu oil scam – Magu

  The Acting Chairman, Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, gave the assurance while receiving the new report on the oil block in his office.   The document on the oil block was presented to Magu by the President, Resource for Development Consulting, Dr. Don Hubert, a Canada-based analyst, whose organisation has helped […]

Oil marketers give FG seven days ultimatum to pay N800b subsidy debts

  Oil marketers have issued a seven-day ultimatum, demanding that the Federal Government settle the outstanding debts totalling N800 billion, failing which depots would cease operation across the country.       The marketers, comprising Major Oil Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association and Independent Petroleum Products Importers, said failure to […]

World Bank sees Nigerian 2018 GDP growth at under 2%

The World Bank expects Nigeria’s economy to grow slightly less than 2 percent this year, largely driven by the non-oil industry and services sectors, as the approach of elections keeps foreign investors away, it said on Wednesday. . Nigeria emerged from a recession last year but growth remains fragile, with the government borrowing both at […]

Nigeria unsure over oil output cuts as OPEC meeting draws closer

Indications emerged Wednesday that the Nigerian government is yet to decide whether it would participate in any production cuts ahead of the Organisation of the Petroleum Exporting Countries (OPEC) meeting slated for December 6. Ibe Kachikwu, Nigeria’s oil minister, said on Wednesday that it was too early to say whether Nigeria would participate in any […]

Refineries now to be fixed in 2020, not 2019 – Kachikwu

  Plans by Nigerian government to fix Nigeria’s moribund refineries and make them work in utmost capacity will not materialise until 2020, Ibe Kachikwu, Nigeria’s oil minister has said. Mr Kachikwu spoke in Lagos on Monday at the 18th edition of the International Biennial Health Safety and Environmental (HSE) Conference on the oil and gas […]

What will Nigeria look like in 2058?

(FILES) In this file photo taken on March 29, 2018 motorists wait in a traffic jam under banners bearing a portrait of Nigeria’s President Muhammadu Buhari, who is on official visit to Lagos. – From dealing with daily traffic snarls and potholes to unruly drivers in rickety vehicles with expired documents, Nigeria’s highway patrol officers […]