Nigeria received gross revenues of 571.7 billion naira in February, lower than the previous month’s revenues of 651.3 billion naira, owing to delayed oil revenues and lower production caused by pipeline vandalism, the accountant general said on Thursday. Accountant General Jonah Otunla said the fall was partly owing to delays […]
Tag: Oil
Nigeria oil bill passes second reading in Senate
Nigeria‘s long-awaited oil bill has passed a second reading in the upper house, paving the way for it to go to specialist committees to be discussed, Senate sources said on Friday. The comprehensive Petroleum Industry Bill (PIB) has been more than five years in the making and previous versions failed […]
Naira Strengthens to Week High on Oil Industry Month-End Supply
Nigeria’s naira gained for a second day, advancing to its strongest in a week as oil companies sold dollars to meet month-end local expenses. The currency of Africa’s biggest oil producer appreciated 0.4 percent to 157.35 per dollar, the strongest intraday level since Feb. 25, as of 11:21 a.m. in […]
