Some financial experts have urged the Federal Government to invest more in increased crude oil production and end oil theft as panacea to achieve the 2.5 million barrels target.

The Oil Producing States Progressives Association has refuted allegations against the Chief of Naval Staff (CNS), Vice Admiral Emmanuel Ogalla, published by an online medium recently. The association urged President Bola Ahmed Tinubu to dismiss what they termed "fallacious and baseless" claims, asserting that the allegations were an attempt to divert attention from the ongoing…

Social Economic Rights and Accountability Project (SERAP) has sued Nigerian National Petroleum Company (NNPC) Limited at the Federal High Court, Abuja over failure to disclose details of Nigeria’s daily oil production, exportation and revenues generated from oil since the removal of subsidy on petrol in May 2023. Former Governor of the Central Bank of Nigeria…

Sen. George Akume, the Secretary to the Government of the Federation, says the efforts of the Nigerian Navy have led to increased daily crude oil production to about 1.5 million barrels per day as of November.

Nigeria would need about $7.6 billion to restore oil production to 2.1m/bpd by 2025 from the current 1.3m/bpd as of September.

The International Monetary Fund (IMF) has downgraded Nigeria’s economic growth by 0.3 per cent. According to the report, ‘2023 World Economic Outlook,’ which was released yesterday, at its ongoing yearly Meetings in Marrakech, Morocco, IMF..

The Managing Director (MD) of Shell Nigeria Exploration & Production Company (SNEPCo), Mrs. Elohor Aiboni, has expressed her appreciation to the leadership of the Nigerian National Petroleum Company (NNPC) Ltd and the NNPC Upstream Investment Management Services (NUIMS) for the level of collaboration geared towards maximising the potential of the deepwater assets and delivering key projects.