KEY POINTS Libya’s National Oil Corporation, NOC, has taken control of the country’s fuel import financing under a new arrangement that significantly reduces the role of the Central Bank of …
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Oil Revenue
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KEY POINTS A profound crisis is unfolding within Nigeria’s public finances, with newly released data revealing the federal government’s oil and gas revenue fell a staggering 62% short of target …
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In the NewsMarketsOil & Gas
Nigeria’s Oil Takings Drag Federation Revenue Lower in November Despite NNPC Rebound
KEY POINTS Nigeria’s public finances came under renewed strain in November as weaker oil inflows pulled down total revenue shared by the three tiers of government, offsetting gains from the …
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In the NewsMarketsOil & Gas
Senate Orders NNPCL to Refund ₦210 Trillion as Nigerians Question Transparency in Oil Revenue
KEY POINTS The Nigerian Senate has ordered the Nigerian National Petroleum Company Limited, NNPCL, to refund ₦210 trillion to the Federation Account after rejecting the company’s explanations over the unaccounted …
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KEY POINTS Nigeria’s oil earnings fell sharply below expectations in the final quarter of 2024, with the Budget Office of the Federation reporting that net oil revenue stood at ₦3.34 …
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Angola’s economy is experiencing a boost from increased oil revenue, raising hopes for sustained growth as the government focuses on infrastructure, healthcare, and education.
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Nigeria’s 2024 budget faces challenges as Brent crude oil price falls below the projected benchmark, threatening national revenue streams.