The nation’s external reserves, which have risen steadily since last year due to reasonably high oil prices and stability in the foreign exchange market, rose higher to $47bn on February 21, 2013. Data obtained from the Central Bank of Nigeria’s website on Friday showed that the reserves recorded $2.68bn appreciation […]
Tag: Oil
Special Report: Loopholes Revealed In The Ribadu Committee Report Makes Passing PIB Imperative
Nigeria can block loopholes that have cost the federal government tens of billions of dollars in oil and gas revenue if the National Assembly approves the new Petroleum Industry Bill (PIB). Nigeria’s first female Petroleum Minister, Mrs. Diezani Alison-Madueke had in the first quarter of the this year commissioned a Petroleum […]
Oil jumps 7 percent but headed for big Q2 loss
By David Sheppard | Reuters Oil jumped more than 6 percent on Friday, headed for its biggest daily gain in more than a year after European leaders hammered out a deal to shore up euro zone banks, but crude was also headed for its steepest quarterly decline since the financial […]
