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●Contemplates tougher laws against crude oil theft and vandalism [Press Release] The National Assembly has strongly supported the ongoing efforts of NNPC Limited to boost Nigeria’s crude oil production and increase its reserves, saying it will consider tougher consequences for crude oil thieves and vandals of the country’s critical hydrocarbon infrastructure. The news was made public on Tuesday when the …

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The naira reversed its decline against the US dollar on Tuesday. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed the local currency strengthened by N1 to trade at N1,576/$1, down from N1,577/$1 recorded at the official window on Monday. The highest and lowest intraday prices recorded during the day were N1,592/$1 and N1,492/$1 respectively, indicating a narrow spread …

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