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No final decision on $5b Saudi Aramco oil-backed loan deal, says Nigeria

The Federal Government has said it remained committed to deploying innovative and fiscally responsible financing strategies to optimise Nigeria’s oil assets, enhance external liquidity, and strengthen macroeconomic stability. The government made the clarification as conversations continue around a proposed crude-for-loan arrangement with Saudi oil giant, Aramco. In a statement, the Federal Ministry of Finance addressed…

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NIMASA restates commitment to boost maritime business

The Nigerian Maritime Administration and Safety Agency (NIMASA) has reaffirmed its commitment to fostering a level playing field and creating an enabling environment to strengthen businesses in the maritime sector. The Director-General of NIMASA, Dr Dayo Mobereola, gave the commitment while receiving the Executive Members of the Nigerian Merchant Navy Officers and Water Transport Senior…

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Nigeria earns $305b cash from oil, gas sector

Between 2014 and 2024, Nigeria, Africa’s largest economy, earned $305billion as revenue inflows from the oil and gas sector according to the Nigeria Extractive Industries Transparency Initiatives (NEITI). It disclosed this when its executive secretary/national Coordinator, Dr Orji Ogbonnaya Orji appeared before the Senate Public Accounts Committee (SPAC) in Abuja. According to Orji in his…

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Nigeria records $305b cash inflow from oil, gas sector

The Federal Government realised the sum of $305billion as revenue inflows from the oil and gas sector from 2014 to 2024, it was learnt yesterday. The Nigeria Extractive Industries Transparency Initiatives (NEITI), disclosed this when its executive secretary/national Coordinator, Dr Orji Ogbonnaya Orji appeared before the Senate Public Accounts Committee (SPAC) in Abuja. According to…

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Ten gas distributors get NMDPRA licences

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has presented Gas Distribution Licenses to 10 companies. Speaking at the Gas Distribution Licence (GDL) Award ceremony in Abuja, the Authority Chief Executive, Farouk Ahmed recalled that the organization received 30 application for licenses from which it approved 10. He said the licences cover about 1.5billion…

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