Category: West Africa

A Senior Advocate of Nigeria, Mohammed Belgore, and a former Minister of National Planning, Abubakar Suleiman, were on Wednesday in Lagos granted bail on own recognisance after entering a plea of ‘not guilty’. The Economic and Financial Crimes Commission, EFCC, charged the duo before a Federal High Court, Lagos, for alleged five-count offences bordering on…

The Federal Government has adopted measures to bring down prices of food items in the country, Agriculture Minister Audu Ogbeh has said. The minister disclosed this to State House correspondents yesterday after the Federal Executive Council meeting chaired by Acting President Yemi Osinbajo. He said the task force set up by government last week to…

Nigeria’s daily excess crude revenue earnings may have increased by about $38 million on Monday as prices reached a $57.01 per barrel at the international crude market. With approved crude oil price benchmark in the 2016 federal budget at $38 per barrel, about $19 is earned as excess revenue per barrel of crude oil exported.…

The federal government has outlined plans to pull the country out of recession and get it on a path of sustainable growth in the shortest possible time. According to the federal government, the medium term plan is expected to drive Nigeria to a minimum GDP growth rate of 7 percent within the planned period. The…

The Dangote Group of Companies Plc has declared 285 truck drivers wanted over theft of about 3.5 million customised tyres of the company. The Coordinator of the company’s National Patrol Unit, Abdullahi Magaji, a retired commissioner of police, disclosed this while addressing journalists on Sunday in Lokoja. Mr. Magaji said each tyre of the company…

Nigeria’s state oil company received 128 bids from companies that want to exchange processed fuels for as much as 800,000 barrels a day of unrefined crude in 2017, it said on Thursday. “This year’s programme for DSDP (direct sale of crude oil and direct purchase of products) is about 800,000 barrels (per day) at most,”…

The Ministry of Petroleum Resources, on Thursday, said 2,418 oil spills were recorded in Nigerian Agip Oil Company’s operations between 2010 and 2016. The Director, Petroleum Resources in the ministry, Mordecai Ladan, made this known at the public hearing on “Despoliation of the Niger Delta and Activities of Nigeria Agip Oil Company” by the House…

The Nigerian National Petroleum Corporation (NNPC) has warned the general public to beware of fraudsters who parade themselves as representatives of the corporation to sell crude oil. NNPC said the activities of these swindlers have become pervasive to the extent that oil and gas transactions are now conducted in “Nicon Hilton” (now Transcorp, a popular…