The federal government is demanding $406.75 million at the minimum from the Shell Petroleum Development Company (SPDC) and its surrogate Shell Western Supply & Trading Limited for alleged crude oil theft.
The Federal Government earned N537.19 billion from oil and gas export during the second quarter of 2016, according to the Central Bank of Nigeria (CBN).
The Federal Government received N18.99 billion from the Nigerian National Petroleum Corporation (NNPC) during the second quarter of 2016, being installmental refund of the corporation’s indebtedness to the government.
The long-awaited dollar supply from multinationals and foreign currency earning-firms to the newly-inaugurated inter-bank foreign exchange market under the flexible rate policy was realised yesterday as about $37.2 million was cumulatively auctioned by three oil majors.
Fresh hope of a quicker recovery is on the horizon for cash-strapped Nigeria as the World Bank has raised its 2016 oil price forecast up from the previous level of $37 per barrel to a new height of $41.
The Chief Operating Officer, Downstream Division of the Nigerian National Corporation, Mr. Ikem Obih, has disclosed that the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has negotiated a workable solution to address the challenges of accessing foreign exchange for the importation of petrol by oil marketers.
Energy firms operating in Nigeria owe banks in the country about N3.982 trillion as at September 2015, according to data obtained from the Central Bank of Nigeria, CBN.
The Central Bank of Nigeria has expressed its readiness to support the refinery, fertiliser and petrochemical complex being built by Dangote Industries Limited in Lagos by providing foreign exchange for the importation of equipment.
The Central Bank of Nigeria (CBN) has frozen the accounts of the Nigerian National Petroleum Corporation (NNPC) and its joint venture partners in deposit money banks, creating panic among some companies in the Oil and Gas industry. 
In a landmark directive, President Muhammadu Buhari monday ordered all revenue generating agencies such as the Nigerian National Petroleum Corporation (NNPC), Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS), Nigerian Ports Authority (NPA), Central Bank of Nigeria (CBN), Nigerian Maritime Administration and Safety Agency (NIMASA) and Nigerian Liquefied Natural Gas (NLNG), amongst others, to pay all their revenues into the Consolidated Revenue Fund (CFR).
Four Months after former President Goodluch Jonathan directed the Nigerian National Petroleum Corporation to refund $1.48bn (N291.56bn) into the Federation Account, the corporation has yet to do so.
Nigeria’s crude oil production, including condensates and natural gas liquids, was estimated at an average of 1.91 million barrels per day (mbpd) or 57.30 million barrels in April 2015. This represented an increase of five per cent above the level of 1.82 mbd or 56.42mbpd recorded in the preceding month.
Revenue collected by the Federal Government from crude oil and gas export has dropped by 39.8 per cent to N359.73 billion in the month of February, according to the latest data from the Central Bank of Nigeria (CBN). This has however, affected the Federally-collected revenue estimated at N560.84 billion, showing a decline of 38.1 percent.
President Goodluck Jonathan on Monday said his administration had nothing to hide in respect of the claim by a former Central Bank of Nigeria Governor, Lamido Sanusi, that $20bn oil money was not remitted to the Federation Account by the Nigerian National Petroleum Corporation.
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), has said Nigeria’s incoming government could raise about $75 billion (N15 trillion) for infrastructure development, if it considers selling down the nation’s majority stakes in joint ventures with multinational oil companies. 
The scheduled completion and take-off in 2017 of a major oil refinery under construction by the Dangote Goup, will boost Nigeria’s economic fortunes in the medium to long term, a former deputy governor of the Central Bank of Nigeria (CBN), Dr. Kingsley Moghalu, has said.
Nigeria's crude oil earnings during the fourth quarter of 2014 declined from $9.95 billion (about N2.5 trillion) it recorded in the preceding quarter to $7.77 billion (N1.9 trillion), according to the latest report from the Central Bank of Nigeria (CBN).
Nigerians have enjoyed relative stability in the supply of Premium Motor Spirit across the country for some time now, but may be in for a difficult time in the coming months due to a combination of factors.
