Oil prices rose more than 1 percent on Tuesday after OPEC figures showed it cut production sharply in January, and as lead member Saudi Arabia said it would reduce its output in March by an additional 500,000 barrels. Growing investor optimism for a breakthrough in the latest round of U.S.-China trade discussions also boosted futures […]
The vast wetlands of the Niger Delta region are home to Nigeria’s vast oil resources, but are once again at the centre of a security crisis. The militants or the “boys” are back in the creeks, destroying pipelines, attacking oil installations, and kidnapping workers. The violence has slashed Nigeria’s oil production by a third. As […]
Timi Soleye returned home to Nigeria from the United States to set up a gas logistics business six years ago, encouraged by predictions of growth and an expanding middle class. Three years later, Nigeria plunged into its first recession in a generation following a sharp fall in the price of oil, which accounts for 90 […]
A Dutch court will today hear the first arguments in an historic case against Shell, in which the oil giant stands accused of instigating a raft of horrifying human rights violations committed by the Nigerian government against the Ogoni people in the 1990s. Esther Kiobel, Victoria Bera, Blessing Eawo and Charity Levula are suing Shell […]
Nigerian stocks could see a relief rally once Saturday’s presidential election is out of the way and rise as much as 10 percent this year as investors pile back into riskier assets. Investors have tentatively started to pick up shares to position for a post-election rally, which could help lift Nigeria’s all-share index to 35,000 […]
Nigeria’s gross domestic product grew 2.38 percent in the last quarter of 2018 compared with growth of 2.11 percent in the same period a year before, the National Bureau of Statistics said on Tuesday. Nigeria’s economy emerged from a recession in 2017 and has been recovering largely due to higher oil prices, though growth remains […]
Colonel Sagir Musa has been appointed as acting Director of Army Public Relations. The News Agency of Nigeria (NAN) reports that Musa replaces Brig.-Gen. Sani Usman, who voluntarily retired from the service on Thursday. Army Colonel Sagir Musa NAN also reported that Musa’s appointment is contained in a new redeployment of senior officers released by […]
The suspension of Nigeria’s most senior judge by President Muhammadu Buhari broke international human rights standards on independence of the judiciary and the separation of powers, a U.N. expert said on Monday. Buhari, who was a military ruler in the 1980s and was voted into office in 2015, is hoping to win a new term […]
With only two matches to the trophy, Flying Eagles Chief Coach, Paul Aigbogun is already thinking of ending his campaign at the on-going African U-20 Nations Cup as champions. The final will hold this weekend, but before then, Nigeria still has to sort out Mali in the semifinals on Wednesday. And Aigbogun believes the game […]