Nigeria’s Federal Government plans to generate up to $16.4b through asset sales in the next four years to reduce the burden on the nation's budget.

The President of Nigeria, Muhammadu Buhari, will not appoint a new minister of Petroleum, stated Reuters.

Nigerian President Muhammadu Buhari was scheduled to travel to Paris on Monday for a three-day official visit to France following an invitation from President Francois Hollande. Meetings with the heads of French oil major Total are also planned.

Nigerian President Muhammadu Buhari plans to split the state-owned Nigerian National Petroleum Corporation (NNPC) into two entities, his spokesman said on Saturday.

Nigerian President Muhammadu Buhari denied that the oil savings account will be depleted to pay government debts, including civil servants’ salaries.

Advisors to Nigerian President Muhammadu Buhari have recommended a root and branch overhaul of Africa's biggest oil industry and increased borrowing to help pay off $20 billion of government arrears, a reform proposal document shows.

Nigeria's new President Muhammadu Buhari dissolved the board of the state-owned oil company on Friday as a first step in cleaning up the sector in Africa's biggest crude producer.

Nigeria's new president, Muhammadu Buhari, has been advised by his transition committee to end a fuel subsidy program and privatize Nigeria's four refineries, senior sources in his party told Reuters on Sunday.

President Muhammadu Buhari is likely to keep the oil portfolio for himself in the new Nigerian cabinet, rather than trust anyone else with the source of most of Nigeria's revenue and traditional fount of corruption, associates say.

Crippling fuel shortages, power cuts, slowing economic growth and Islamist militants wreaking havoc. Muhammadu Buhari is taking on a tough job when he’s sworn in as Nigeria’s president on Friday.