Nigeria Oil Industry
latest news & developments
Floating the naira knocks a chunk off Nigeria’s GDP as economists predict volatility
Unpegging the currency from the dollar may also prompt a dramatic spike in inflation.
Rebel factions in Niger Delta divided over attacks
President Buhari’s initial announcement to wind down an earlier amnesty deal by 2018 is said to have contributed to the re-emergence of militancy.
‘We all stand before history’
Ken Saro-Wiwa spoke out against the devastation of Niger Delta by oil companies and the corrupt Nigerian government. He was executed on a school day.
Shell accused of lying over Nigerian oil spill cleanup
Shell has been accused of making false claims about its oil spill cleanup operations in Nigeria and has been urged to help the worst-hit communities.
Nigeria: Former oil minister Alison-Madueke arrested on graft allegations
Nigeria has confirmed the arrest in London of former oil minister Diezani Alison-Madueke on suspicion of bribery and money laundering.
Nigeria: Buhari orders single govt bank account in corruption crackdown
The deadline for ministries to deposit funds in a central bank account has passed, with government saying it is happy with the level of compliance.
Bailout won’t solve crude economy
A drop in crude prices has pummelled Nigeria’s economy, and 173-million people across the country have not been paid wages for months.
Nigeria: Buhari promises to recover ‘mind-boggling’ stolen oil revenues
Nigeria’s President Muhammadu Buhari has pledged to recover oil revenues from an estimated stolen 250 000 barrels a day during a visit to the US.
Nigeria oil company overpaid govt $750m – audit
An audit of Nigeria’s state oil firm said it overpaid Goodluck Jonathan’s government by $750-million, and had not properly accounted for $1.5-billion.