Francis Abel 
Nigeria’s oil production increased month over month (MoM) by 7.7% to 1.4 million barrels per day (bpd) in December 2023 from 1.3 million bpd in November 2023. This was revealed by the Organization of Petroleum Exporting Countries (OPEC) in its Monthly Oil Market Reports (MOMRs). OPEC also said that the figures were derived from secondary … Read more
The naira, on Tuesday, depreciated to N1,330/$ at the parallel section of the market. It fell by 3.91 percent or N50 from the N1,280/$ rate recorded on Monday. Currency traders in Lagos, also known as Bureau De Change operators (BDCs), quoted the buying rate of the greenback at N1300 and the selling price at N1,330 … Read more
Shell Plc agreed to sell its Nigerian onshore oil business to a consortium of local companies for more than $1.3 billion. If approved by the government, the transaction would fulfill Shell’s long-term goal of extracting itself from a challenging operating environment in the Niger Delta region, while retaining a presence elsewhere in the country. Beyond … Read more
Nigeria’s inflation rate has continued to grow, reaching 28.92 percent in December 2023. According to a study provided by the National Bureau of Statistics (NBS), the headline inflation rate in December 2023 jumped to 28.92 percent, up from 28.20 percent in November 2023. It stated that the movement demonstrated a slight increase of 0.72 points … Read more
The seven biggest oil marketers in Nigeria have registered with the Dangote Petroleum Refinery to lift and distribute refined petroleum products generated by the $20 billion plant. Dealers affiliated with the Major Oil Marketers Association of Nigeria said on Sunday that with the registration, they will begin distributing fuel produced at the plant once the … Read more
The Central Bank of Nigeria (CBN) has appointed new executives to oversee the operations of Union, Keystone, and Polaris banks, just hours after announcing the dissolution of their boards and managements on Wednesday. The apex bank took steps to ensure the stability and continuation of the affected institutions in the face of restructuring. It stated … Read more
Secrets to Effective Pain Management Pain is a complex and multifaceted experience that can affect every aspect of our lives. Whether it’s chronic or acute, pain can make it difficult to work, sleep, and even enjoy life. Many people turn to over-the-counter or prescription painkillers to manage their pain, but these medications can come with … Read more
The Central Bank of Nigeria, CBN, sacked the boards of Titan Trust, Union Bank, Keystone Bank and Polaris Bank on Wednesday. Platinumpost reports that President Bola Tinubu has started the implementation of the report of the Special Investigator on Central Bank of Nigeria (CBN) and Related entities, Jim Obazee with the dissolution of the board … Read more
Chevron Nigeria Limited has appointed a new Chairman and Managing Director, Jim Swartz. This was contained in statement made available to Platinumpost on Wednesday by the firm’s General Manager, Policy, Government and Public Affairs Esimaje Brikinn. According to the statement, Swartz was appointed “as the Chairman and Managing Director of Chevron Nigeria/Mid-Africa Business Unit, effective … Read more
The Nigerian National Petroleum Company, NNPC, Ltd says it recorded a profit of N2.548 trillion in 2022. The national oil company in its 2022 Financial Performance Report posted online described the profit as the highest since its inception in 1977. The financial report stated that it recorded a loss of N803 billion in 2018 and … Read more