The Nigerian National Petroleum Company Limited has received N318.05bn between January and August 2025 for frontier oil exploration, findings by The PUNCH have shown. This is according to documents from the September 2025 Federation Account Allocation Committee meeting obtained by The PUNCH. The deductions represent 30 per cent of Production Sharing Contract profits, which are […]
A Paris court on Thursday convicted former French president Nicolas Sarkozy on charges of criminal conspiracy but acquitted him of corruption and accepting illegal campaign financing in his trial into accusations late Libyan dictator Moamer Kadhafi helped fund his victorious 2007 presidential run. The trial is the latest in a string of legal troubles for […]
President Bola Tinubu has clamoured for a total re-phase in the global financial architecture of Africa’s mineral resources, saying it is time for its nations to begin to not only finance its mineral sector, but also assert their influence and power in the African products’ global supply chains. According to the president, this has become […]
The Central Bank of Nigeria has raised concerns that abuse of the naira is driving up the cost of printing and replacing banknotes. The warning came on Wednesday at the flag-off of a nationwide sensitisation campaign on proper naira handling, held in Abuja. The Deputy Governor, Operations Directorate, Dr Bala Bello, was represented by Dr […]
The Monetary Policy Committee of the Central Bank of Nigeria has reduced the country’s benchmark interest rate to 27.00 per cent, the first cut in 2025 after three consecutive pauses, signaling a shift in policy towards supporting economic recovery. While welcoming the move, members of the Organised Private Sector argued that the reduction remains marginal […]
Nigeria’s push for electric vehicles (EVs) is gaining momentum, but the journey to widespread adoption depends on addressing the infrastructure and skills gap challenges, experts say. The experts who spoke at a recent EV training workshop for roadside mechanics said the country must address the two critical challenges that face the country’s EV ambition. Dapo […]
The United States mission in Nigeria has warned that high-profile individuals who engage in corruption can be barred from receiving visas. In a post shared on X on Monday, the US mission said, “fighting corruption knows no borders or limits on accountability.” “Fighting corruption knows no borders or limits on accountability. Even when high-profile individuals […]
The Depot and Petroleum Products Marketers Association of Nigeria has called on the Dangote Refinery to make its fuel supply more accessible to marketers and sell products at affordable rates. The spokesperson for the association, Ikem Ohia, said on Channels Television’s The Morning Brief on Wednesday that closer collaboration with the refinery would ensure steady […]
Nigeria is expected to exit the Financial Action Task Force (FATF) grey list by October when the global task force holds its plenary in Paris, France, the Intergovernmental Action Group Against Money Laundering in West Africa (GIABA) has disclosed. The FATF is an intergovernmental organisation founded by the G7 countries to develop policies to combat […]
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), on Tuesday, rejected alleged plans by the federal government to sell significant stakes in Joint Venture (JV) assets, managed by the Nigerian National Petroleum Company Limited (NNPC Ltd). The two critical unions warned […]
