Lagos, Nigeria’s commercial state and former federal capital, has reduced its 2020 budget by 14.7 per cent to US$2.40bn as revenue dipped due to the COVID-19 pandemic

The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year, with global investment in oil and gas is expected to fall by almost one-third in 2020, according to the International Energy Agency (IEA)

Axiory Global, a leading Global Forex Brokerage firm, is all set to enter a new era in oil trading with two brand new products that have been especially designed to combat negative oil prices: the US Oil Index and the UK Oil Index

The Nigeria LNG Limited fresh from signing its decision on Train 7 Final Investment, a project that will increase its tonnage by 35 per cent, said it had paid more than US$13bn to the federal government in its 31 years of existence for feed-gas purchase, US$7bn in dividends and US$8bn in taxes

Timipre Sylva, Nigeria’s minister of state for Petroleum Resources, has said the Nigerian government will continue to interfere in determining the pump price of petroleum prices “to protect the generality of the public from undue exploitation and prevent inordinate profiteering by oil marketers”