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15:47 Airport Will Temporarily Shut, Disrupting a Nigerian Lifeline


20:36 7 biggest political fights that have caused tension in Nigeria


17:43 Dangote drops out of TOP 100 richest in the world, meet 3 richest Nigerians for 2017


21:23 Abuja airport 57.5% completed as FG reaffirms re-opening date


23:10 Nigerian economy maintains recovery path – Presidency


13:10 Breaking: DSS arrests Ifeanyi Ubah over economic sabotage, alleged N11bn oil theft


15:00 Nigeria's oil production increases to 1.484m bpd


13:45 Nigeria lost N3.8 trillion to theft, pipeline vandalism in 2016



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  • AMCON ‘recovered’ N134bn in 2016, reduces standalone loss by N49.86bn

    May 26, 2017 5:16 PM 13

    Asset Management Corporation of Nigeria (AMCON) says it recovered about N134 billion in cash and assets in the 2016 fiscal year, and hopes to do even more in 2017. Speaking at a press conference in Lagos on Friday, the management of Nigeria’s bad bank gave updates on its financial accounts for the 2016 fiscal year, and expressed optimism for better results

  • 17 Years After, Senate Passes Petroleum Industry Bill

    May 26, 2017 2:48 AM 11

    The Senate yesterday passed the first part of the Petroleum Industry Governance Bill (PIGB), a modified version of the much anticipated Petroleum Industry Bill (PIB), after 17 years of consideration. The passage of the PIGB, which is just a quarter of the four components of the Petroleum Industry Bill (PIB), followed the final consideration and adoption

  • Senate passes petroleum governance bill 14 years after …APC, NUPENG, PENGASSAN hail passage

    May 26, 2017 12:02 AM 14

    The Senate on Thursday passed the Petroleum Industry Governance Bill, which seeks to unbundle the Nigerian National Petroleum Corporation and merged its subsidiaries into a single entity. The passage of the bill came 14 years after the original Petroleum Industry Bill was drafted and submitted to the National Assembly. The PIGB, formerly known as the Petroleum

  • Petroleum Industry Bill: Senate scraps NNPC, creates three new agencies

    May 25, 2017 7:50 PM 13

    At last, the Senate on Thursday passed the Petroleum Industry Bill (PIB), putting paid to the controversy that dogged the bill ford over 10 years. Some of the highlights of the bill is the scraping of the Nigerian National Petroleum Corporation (NNPC) and the merging of the Department of Petroleum Resources (DPR), Petroleum Products Pricing, Regulatory

  • PIGB: Senate approves unbundling NNPC

    May 25, 2017 6:08 PM 12

    The bill, which is expected to take care of the governance aspect of the industry, scaled third reading following presentation of report of Joint Committee on Petroleum Resources (Upstream, Downstream, Oil and Gas). If assented to by the President, the Act will unbundle the Nigeria National Petroleum Corporation (NNPC) into two companies: Nigeria Petroleum

  • Senate finally passes petroleum industry governance bill

    May 25, 2017 2:06 PM 13

    ABUJA May 25 – Nigeria’s Senate passed a long-awaited oil governance bill following its third and final reading, it said on its official Twitter feed on Thursday. The Petroleum Industry Governance Bill is part of proposed reforms that make up the sprawling Petroleum Industry Bill (PIB), aimed at overhauling the OPEC member’s energy industry. The PIB, which

  • Customs intercepts 440 pump action rifles, others at Lagos port

    May 24, 2017 4:30 AM 12

    The intercepted 440 pump action rifles displayed by the Nigeria Customs Service at Tin Can Island Port in Lagos…yesterday. The Nigeria Customs Service (NCS) has intercepted a cache of arms and ammunition imported through the Tin Can Port in Apapa, Lagos.The 440 pieces of assorted pump action rifles, which originated from Turkey were concealed inside

  • Nigeria’s GDP Hits N26.02trn As Recession Slows

    May 24, 2017 2:30 AM 22

    Nigeria’s aggregate Gross Domestic Product (GDP) increased to N26.028 trillion in nominal terms compared to N22. 235 trillion in the first quarter of 2016. This is even as the economy contracted by 0.52 per cent in the first quarter of the year though at a slower pace. This resulted in a nominal GDP growth of 17.06 per cent, a growth that is higher relative

  • CBN Retains Interest Rate At 14%

    May 24, 2017 2:19 AM 15

    The Monetary Policy Committee of the Central Bank of Nigeria (CBN) yesterday retained the Monetary Policy Rate at 14 per cent once again due to current uncertain economic conditions and high inflation. The MPC has not made any major monetary policy change since July 2016. The MPC said it took the decision to retain the Monetary Policy Rate (MPR) at 14 per cent because

  • Osinbajo seeks Reps’ approval for $1.28bn, €9m loans

    May 24, 2017 12:05 AM 13

    The Acting President, Prof. Yemi Osinbajo, has requested approval of the House of Representatives for fresh $1.28bn and €9m loans under the 2016-2018 External Borrowing (Rolling) Plans of the Federal Government. A letter he wrote to the House of Representatives on the matter was read to members by the Speaker, Mr. Yakubu Dogara, on Tuesday in Abuja