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NPDC to raise Nigeria’s oil production by 320,000bpd

This increase, which would be coming from Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), is expected to take the company’s equity production from the current 180,000 barrels per day to 500,000 bpd by 2020. Nigeria’s crude oil production is expected to increase by …

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Nigeria: Kachikwu – $100 Oil Impossible in 2018

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has said it would not be possible for the price of crude oil to rise to $100 per barrel in 2018 as the current market conditions did not support such expectations. Speaking to some reporters recently in Abuja, Kachikwu, predicted …

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Dangote to invest $50bn in US, Europe by 2025

Africa’s richest man, Alhaji Aliko Dangote, plans to invest $50bn in the United States and Europe by 2025, in renewable energy and petrochemicals. This is coming after completing almost $5bn of agricultural projects and an $11bn oil refinery in Nigeria. “Beginning in 2020, 60 percent of our future investments will …

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Osinbajo says FG to build $1bn ICT Company

The Acting President Yemi Osinbajo made this known in his opening address at the 2017 Digital Africa Conference and Exhibition. The Federal Government on Tuesday in Abuja said it would build a one billion dollar ICT company to boost indigenous technology. The Acting President Yemi Osinbajo made this known in …

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Goodnews!!! Naira Appreciates closes to US Dollar

 The Nigerian naira on thursday strengthened at the parallel market. The currency maintained rate at 490 and 422 against the Pound sterling and Euro respectively at the black market segment. At the official market, the naira depreciated by 0.02% against the dollar to close at N305.45 to a dollar while …

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