Nigerian News from Leadership News
  • Nigeria Moving Out Of Economic Recession – Report

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    A report released by World Economics, a financial analysis organisation, yesterday says Nigeria is on its way out of recession. The reports titled: Sales Managers’ Index (SMI), released Tuesday said, “The data suggests that the Nigerian economy has started growing out of the recession which saw 10 months of consecutive contraction.” This is coming on…

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  • Power: NNPC Targets $15bn Investment To Generate 4,000mw

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    The Nigerian National Petroleum Corporation (NNPC) hinted yesterday that it will require about $15 billion investment to realise its plan of generating about 4,000 megawatts of electricity in the next ten years. The corporation’s Chief Operating Officer (COO), Gas and Power, Engr. Saidu Mohammed, who disclosed this at the 2017 retreat of his Autonomous Business…

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  • Warri Refinery Shut Down Due to Technical Fault

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    The Nigerian National Petroleum Corporation (NNPC) yesterday stated that it had shut down the Warri refinery, due to some technical issues surrounding its operation. Chief operating officer, Refineries, NNPC, Mr. Anibor Kragha, disclosed while speaking at the Nigerian Oil & Gas Conference & International Exhibition holding in Abuja. He stated that only the Port Harcourt…

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  • Court To Rule On Malabu Forfeiture 13 March

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    The Federal High Court, Abuja, yesterday reserved ruling till March 13, on two separate applications filed by Shell Nigeria Exploration Ltd, and Nigeria Agip Exploration Ltd, seeking reversal of the Malabu oil block  forfeiture order. The court granted an order of forfeiture,to the EFCC in respect of the Oil Prospecting Licence (OPL) 245. The two…

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  • Oil Prices: OPEC Members Lose $2trn In 2 Years

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    Nigeria and other member nations of the Organisation of Petroleum Exporting Countries (OPEC) have lost a cumulative sum of $2 trillion capital investment in the oil and gas industry as well as revenue generation since crude oil price in the international market tumbled in June 2014. According to Secretary General of OPEC, Dr Mohammed Sanusi…

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  • House May Set New Price For Petrol

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    Indications emerged weekend that the House of Representatives will soon move to look at the fundamentals in the pricing of petrol with a view to ensuring that stakeholders get appropriate value. Chairman, Ad-hoc Committee on the Review of Pump Price of Petrol by the House of Reps, Hon. Raphael Igbokwe disclosed this while on an…

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  • ‘Nigeria Needs $28bn To Develop Gas Infrastructure’

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    The government in conjunction with the private sector would have to source for $28billion to enable it achieve the goal of producing 3million cubic feet of liquefied gas per day. The amount would  be required to put in place the necessary infrastructure needed to make the domestic gas market attractive to investors to participate. These…

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  • US Shale Oil Producers Drag Down Oil Prices

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    Oil prices rose on Monday but the gains were limited as investors gauged whether an increase in U.S. drilling rigs and record stockpiles would undermine efforts by producers to cut output and bring the market into balance. Brent futures  were up 17 cents at $55.98 a barrel at 0616 GMT, while U.S. West Texas Intermediate…

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