Oil sector Archives

address oil production, Bayelsa: APC in Ekeremor suspends Petroleum Minister, Lokpobiri, Lokpobiri unveils strategic vision for industry transformation in Istanbul,Shell, ExxonMobil, others not exiting Nigeria, Minister assures

Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said the Federal Government is deploying technology to reduce the corruption ...

Nigeria oil sector to maintain growth, attract fresh investments in 2025

by Dayo Ayeyemi

January 1, 2025

0

Despite volatile global oil market in 2024, no thanks to geopolitical tensions and other local challenges, Nigeria grew its crude ...

Lokpobiri hails NNPCL-First E&P for driving crude production growth

by Taofeek Lawal

November 23, 2024

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The Abigail Joseph Floating Production Storage and Offloading (FPSO) facility, operated by the NNPCL-First E&P Joint Venture on OML 83/85, ...

Net foreign exchange inflow into Nigeria surges Keystone bank's operations, CBN announces new date, Investors favour 364-day bonds Demand for unsecured loans surpasses secured credit CBN predicts 4.17% GDP CBN introduces new account options CBN staff lobby for exit Banks borrow N27.95trn from CBN in Q3 2024 EFEMS Eurobond issuance bolster FX reserves Banks’ borrowed N776.1bn CBN International Training Institute CBN mops up N1.335trn External reserves hit 22-month high $2.97 billion released to Oil Sector JUST IN: CBN defies National Assembly, maintains 5% Ways And Means advance limit,52% of Nigerian adults have bank accounts in 2023 — CBN

$2.97 billion released to Oil Sector in two years —CBN

by Chima Nwokoji

September 23, 2024

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IN a staggering move that is sure to capture the attention of Nigerians and global energy stakeholders alike, the Central ...

Senate late Adebanjo, Senate 2024 budget banks’ profitsfederal character in NASS service commission, Senate revisits Jonathan’s report investigates 11886 projects abandoned by

Confusion as Senate suspends investigative hearing on oil sector sabotage

by Taiwo Amodu

September 8, 2024

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Amidst the public anger and dissatisfaction trailing the increase in price of Premium Motor Spirit otherwise known as petrol and ...

Oil revenue grew by 30% in first half 2024 — FG

Oil sector’s GDP growth contribution shows NNPC strategies working – Expert

by Kazeem Biriowo

August 29, 2024

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The strategies adopted by Nigeria's wealthiest and most profitable company, the Nigerian National Petroleum Company Ltd (NNPCL) to ramp up ...

NNPCL: Mele Kyari is pivot for Tinubu’s oil sector reforms

by Tajudeen Suleiman

December 7, 2023

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Amongst all the people President Bola Tinubu has so far reappointed into offices, none was as keenly anticipated as that ...

SEC, FMMSD to collaborate on raising capital for non-oil sector

by Joseph Inokotong

August 2, 2023

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The Securities and Exchange Commission (SEC) and the Capital Market Community are to partner with the Federal Ministry of Mines ...

FG encouraged by growth in non-oil sector ― Udoma

by S-Davies Wande

August 27, 2018

0

Minister of Budget and National Planning, Senator Udoma Udo Udoma MINISTER of Budget and National Planning, Senator Udoma Udo Udoma, ...

NBS CODE partner Food prices push inflation rate, Nigeria’s inflation rate rises, NBS, Foundation to develop public sector performance index,Inflation drops by 0.37, Beyond the feel good, Inflation rate slowed, Nami enjoins W/African taxmen to step up revenue mobilization growth Sanya Adejokun - Abuja Executive Chairman, Federal Inland Revenue Service (FIRS), Muhammad Nami, has asked tax authorities across West Africa step up their efforts towards generating higher tax revenues for their respective countries to accelerate development in the region. Nami who spoke on Thursday at the opening ceremony of the “Regional Seminar on the Problems of Tax Transition in West Africa”, organised by the Steering Committee of Support Program for Tax Transition in West Africa (PATF) said the governments needed enhanced tax revenues to tackle development-related challenges they confront, especially in the areas of “health and security difficulties”. Nami congratulated Member-countries “for the relentless work you have done since January 2020, the date of the effective start of the PATF.” He noted that “since the establishment and effective holding of the first Steering Committee, the execution of the missions in progress has accelerated, making it possible to have results that can be shared by the actors of the Program and the beneficiaries. "Since then, we have come a long way, with results that are certainly mixed, but encouraging and which should encourage us to continue our work.” According to him, areas where the PATF needed to work on to achieve its set objectives include “establishment of the PATF Steering Committee; improving the management of tax expenditures in the region; providing a practical guide for Value Added Tax (VAT) management for West Africa; the creation of a regional methodology guide for the evaluation of tax expenditures; and the establishment of an information system specific to the UEMOA and ECOWAS Commissions.” To achieve these goals, Nami posited that “our countries must have national databases and a regional platform” even as he observed that “this indispensable steering body of our consultation system still lacks vitality, as it does not have institutional and financial guarantees.” He tasked participants “to complete your work as soon as possible, but above all to propose innovative, realistic and feasible recommendations. "Our various governments are facing health and security difficulties; in this context, they greatly need these results.” Also speaking, Director of Fiscal Affairs and Public Finance at WAEMU, Habbas Traoure, said since January 2020, experts have started working to provide technical support for 15 member countries and Mauritania. "Completing the task will help to fight domestic tax evasion and drive revenue mobilisation and fight illicit tax flows. This will help is develop capacity to do well in this area. "We've had study on VAT and the ECOWAS commission is proud of the result achieve so far and this seminar is a prove to show that we are on the right track. This meeting will help us review what has been done and help the actors to brainstorm on the measures to be out in place to addresses issues affecting taxation in the region. On his part, Director of Trade, Customs Union at ECOWAS, Tiemtore Salifou spoke of the imperative for tax authorities in the region to share experiences and move towards moving tax revenue and ensure that international tax standards are implemented, Breweries Beverages boost, Federal School of Statistics graduates charged Inflation, NBS,

Improved oil export, controlled imports saved Nigeria from recession ― NBS

by S-Davies Wande

July 31, 2018

0

NBS NATIONAL Bureau of Statistics (NBS) on Monday confirmed that Nigeria’s exit from its worst recession in almost 30 years ...

Tag: Oil sector

FG deploying technology to reduce corruption in oil sector — Lokpobiri

Nigeria oil sector to maintain growth, attract fresh investments in 2025

Lokpobiri hails NNPCL-First E&P for driving crude production growth

$2.97 billion released to Oil Sector in two years —CBN

Confusion as Senate suspends investigative hearing on oil sector sabotage

Oil sector’s GDP growth contribution shows NNPC strategies working – Expert

NNPCL: Mele Kyari is pivot for Tinubu’s oil sector reforms

SEC, FMMSD to collaborate on raising capital for non-oil sector

FG encouraged by growth in non-oil sector ― Udoma

Improved oil export, controlled imports saved Nigeria from recession ― NBS

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