Nigeria | Egypt Oil & Gas - Part 47
Buhari Denies Oil Savings Account Is Depleted
Nigerian President Muhammadu Buhari denied that the oil savings account will be depleted to pay government debts, including civil servants’ salaries.
Buhari Advised to Overhaul Nigerian Oil Sector
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 proposa ...
Nigeria Runs Down Oil Savings Account to Pay Debt
Nigeria’s government plans to run down its oil savings to offset revenue shortfalls and pay debt, such as salaries for state workers.
Shoreline Plans $2 Billion Bond to Buy Africa Energy Assets
Shoreline Group, a Nigerian company with interests from oil production to rope-making across six African countries, plans to sell $2 billion in debt to buy crude and gas assets on the continent, which may include pur ...
Nigeria’s Total Debt Rises to 12.1 Trillion Naira
Nigeria's total debt rose to 12.1 trillion naira ($60.8 billion) as of March 2015, up from 11.2 trillion naira at the end of December 2014, the Debt Management Office (DMO) said.
Nigeria’s APC States Government Must Scrap Oil-Industry Bill
Nigeria’s ruling party recommended the government discard a long-delayed oil-industry bill, review fuel subsidies and sell off some units of the state petroleum company.
Nigeria’s Oil Company Kept Most of Oil Revenue
Nigeria's state oil company earned 8.1 trillion naira ($41 billion) from 2012 until the end of May, but only paid 4.3 trillion to the federal government, the country's National Economic Council (NEC) said on Monday.
Nigeria Relaxes Grip on Gas Prices to Increase Power-Plant Supply
Nigeria’s energy regulator said it’s prepared to approve higher prices for natural-gas supply to ensure increased deliveries to the nation’s ailing power plants.
