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Uncertainty over N4.314tr revenue from marginal fields

Govt loses N1.29b daily to unproductive oil wells The nation’s plan to earn additional $14.100 billion (N4.314 trillion) from 300 million barrels of crude oil is uncertain as licensed marginal fields are unable to engage in meaningful exploration and production activities 13 years after. The country targets daily earnings of $4.23 million

NNPC saves $3b yearly from production cost cut

The Nigerian National Petroleum Corporation (NNPC) yesterday announced that it has saved the nation a minimum of $3billion yearly from the reduction in the cost of crude oil production. According to the corporation’s statement, it has driven down the cost of crude oil production from $78 per barrel as at August

Acquire Production Skills – FUNAAB DVC (A) Admonishes Students

To boost the chances of the Federal University of Agriculture, Abeokuta (FUNAAB), ‎students scaling through post-graduation job placements, the Deputy Vice-Chancellor (Academic), Professor Oluyemisi Eromosele, has ‎urged students to acquire fundamental skills and experiences that are relevant to their courses of study during their internship programmes. Professor Eromosele, who is the Chairperson,

Nigeria squandered $201.2bn in 10 years – NEITI

Everest Amaefule, Abuja In 10 years, Nigeria accumulated a total of $201.2bn in Excess Crude Account, which it squandered within the same period. The Nigeria Extractive Industries Transparency Initiative stated this in its Occasional Paper (Issue 2) made available to our correspondent in Abuja on Monday. The publication, which focused on ‘The case

How to grow economy, by Awolowo

One way to grow the  economy is to make it export-driven so it could become resilient to the vagaries of oil prices, the Chief Eexcutive Officer, Nigerian Export Promotion Council (NEPC) , Olusegun Awolowo, has said. He spoke during the Nigeria Initiative Economic Development luncheon in Abuja. He said services were

‘10,000 farmers can’t access N350m donor fund’

Govt: allegation untrue  Ten thousand farmers in Edo State cannot access the N350 million donor fund, Edo North Coordinator of All Farmers Association of Nigeria (AFAN) Alhaji Mohammed Oshiobugie has said. Oshiobugie, in an interview with News Agency of Nigeria (NAN) in Benin, said the government failed to pay the N94 million

Niger, Benin owe Nigeria $115.91m for power supply

Ahead of the forthcoming 18th meeting of the operators with the Minister of Power, Works and Housing, Babatunde Fashola, some international customers allegedly owe Nigeria about $115.91million (over N35billion) for electricity supplied. The Guardian further learnt that the debts were owed by the CEB of Benin Republic, and NIGELEC of Niger