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Oil & Gas
Petrol defies regulated pricing, rises 30% in one year
The average retail price paid by Nigerians for Premium Motor Spirit (PMS), also known as petrol, increased by 29.81 percent in the 12 months to November 2022, making a mockery of the…
Nigeria’s oil output under Buhari lowest since 1999
Nigeria saw its crude oil production fall the most in two decades on President Muhammadu Buhari’s watch, data collated by BusinessDay show.
Buhari has doubled as the minister of petroleum…
Nigeria’s fiscal fiasco in seven charts
The World Bank warned in June that Nigeria was facing what it described as a "fiscal time bomb" due to petrol subsidy and low oil production.
With less than 70 days to the 2023 general…
Nigeria earned 2trn from natural gas sales, highest in 5 years
Africa’s largest economy earned N2.1 trillion from exporting natural gas from January to September 2022, the highest in five years, data from the National Bureau of Statistics (NBS) has…
‘Fuel subsidy amid high freight charges squeezes FG’s revenue’
Freight charges for refined petroleum products have more than doubled in the last one year, a situation that adds further pressure on government revenue used to subsidise petrol.
"Freight…