NIGERIAN National Petroleum Corporation (NNPC) officials plan to resume active oil exploration in the Sokoto Basin as part of a continued programme to perpetuate the country's dependence on crude oil as its main foreign exchange earner.
Currently, petroleum products account for over 90% of the federal government's earnings,...
NIGERIA'S avoided total economic collapse earlier this year at the height of the coronavirus pandemic lockdown in April when crude oil prices collapsed to such a low level that the federal government was begging buyers to make purchases at $9 a barrel.
Being a mono-economy, over 90% of Nigerian government revenue comes from...
NIGERIA'S federal government has signed an agreement with Niger Republic to resume the resumption of petrol products from her northern neighbour as part of a plan to combat domestic shortages due to limited refining capacity.
Despite being Africa's largest crude oil producer and the sixth largest exporter in the world,...
NIGERIA'S three petroleum refineries have incurred losses totalling N142.07bn ($380m) over the last 12 months as a result of staying idle while they chalk up huge operating expenses at a time when they are not generating any revenue.
According to recent data from the Nigerian National Petroleum Corporation (NNPC), the...
