A look at how people around the world are ringing in 2018: ___ NEW ZEALAND Tens of thousands of New Zealanders took to streets and beaches, becoming among the first in the world to usher in 2018. As the new year dawned in this southern hemisphere nation, fireworks boomed and crackled above city centers and […]
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As part of the initiative to reposition the maritime sector for greater efficiency in line with International best practices, the Nigerian Maritime Administration and Safety Agency (NIMASA) will release the empirical forecast that will determine the outlook of the industry in Nigeria by the first quarter of 2018. The Director General of NIMASA, Dr. Dakuku […]
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As the external reserves inched up to $34.3 billion last week, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has predicted 7 per cent rise in its accretion to reach $40 billion next year. According to the banking czar, who made the forecast at the weekend in Lagos during the annual […]
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The International Monetary Fund has said it expects inflation in Nigeria and Angola to remain elevated at two-digit levels next year. The IMF said this would reflect the persistent effects of past inflationary shocks coming from sharp currency depreciations as well as higher electricity and fuel prices and, “in the case of Nigeria, reflecting the […]
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Nigeria’s Senate President, Dr. Bukola Saraki, has said the upper chamber of the National Assembly is working to ensure the completion of the passage of the Petroleum Industry Bill in the fourth quarter of this year. Saraki stated this in Lagos on Monday at the Nigeria Oil and Gas Industry Research and Development Fair and […]
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Nigeria’s oil production will upsurge by 200,000 barrels per day by the fourth quarter of 2018, the Deputy Managing Director of Total, a principal partner of the Egina Project, Mr. Ahmadu Musa-Kida, has said. Musa-Kida disclosed this at the celebration of the Egina manifold sail away in Port Harcourt on Tuesday, according to a statement […]
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OPEC on Tuesday forecast higher demand for its oil in 2018 and pointed to signs of a tighter global market, indicating its production-cutting deal with non-member countries is helping to tackle a supply glut that has weighed on prices. In a monthly report, the Organization of the Petroleum Exporting Countries said the world would need […]
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Nigeria’s Federal Ministry of Petroleum Resources has estimated that $10.38 billion can be generated by 2018, if 50 percent of the current kerosene and firewood users switch over to Liquefied Petroleum Gas, LPG, popularly known as cooking gas. In the recently approved National Gas Policy, the ministry sated: “It is estimated that about $10.38 billion […]
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OPEC forecast higher demand for its oil in 2018 due to rising global consumption and slower supply growth from rivals, although another jump in the group’s output suggested the market will remain in surplus despite efforts to rein in production. In a monthly report on Thursday, the Organization of the Petroleum Exporting Countries said the […]
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Acting Chairman, Fiscal Responsibility Commission, (FRC,), Mr Victor Muruakor has said that the Federal Government’s revenue projections contained in the 2018-2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) are feasible and achievable. Speaking to newsmen on Tuesday in Abuja, the FRC chair said the projections were in line with the realities on […]
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The Federal Government has said that the country has the capacity to produce over 2.3 million barrels of oil per day (bpd) in 2018. Minister of Budget and National Planning, Senator Udo Udoma, disclosed this in Lagos during a presentation of draft proposals for the Medium Term Fiscal Framework/ Fiscal Strategy Paper (2018- 2020) to […]
Read More The nation Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has reiterated Federal Government’s resolve to reduce importation of petroleum products from the present 95 per cent to 60 per cent by 2018. Kachikwu stated this at the Rainoil 20th Anniversary Lecture organised by the company in Lagos on Wednesday. The theme of the […]
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