Experts have warned that threat to global oil production could affect oil supply and cause oil prices to skyrocket.

The Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, has called on Nigerians to pay their taxes, in order to develop the country. He said the country cannot develop without tax.

Nigerian Senate has mandated its Committee on Marine Transport to investigate a N3billion fraud allegation against the Nigerian Ports Authority (NPA). The allegations were raised on Wednesday in a Point of Order moved by Senator Ovie Omo-Agege, the lawmaker representing Delta Central Senatorial District.

The board of the Etisalat Nigeria has been dissolved over the load issue rocking the telecommunication company. Boye Olusanya, former deputy managing director of Celtel Nigeria (now Airtel Nigeria), will be the chief executive officer of the embattled telecommunication company, Etisalat Nigeria during the transition period, Vigil360 has learnt.

Nigerian crude for August loading is proving slow to find buyers amid rising supply, Reuters reported quoting oil trading sources. An increase in production in Nigeria and Libya, where conflict and unrest had curbed output earlier this year, is adding to the volume of light, sweet crude looking for buyers in the Atlantic Basin, despite an OPEC-led supply cut aimed at getting rid of a surplus.

Emmanuel Ugochukwu, a stowaway on Med-view Lagos -London Flight has been arrested and returned to Lagos after surviving the incident. Dailytrust reports that Ugochukwu managed to place himself between the front wheels of the aircraft from Lagos to London on Saturday and survived the six-hour flight at an altitude of 32, 000 feet above sea level.

Nigeria’s Federal Executive Council has approved a national gas policy that aims to reduce the country’s dependence on crude oil by increasing gas exploration and facilities, the oil ministry said in a statement.

The Nigerian Custom Service has launched its e-auction portal as parts of reforms to bring the agency in compliance with international standard.

Guinness Nigeria Plc has received the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE)’s approvals to float a rights issue of N39.70 billion.

The Nigerian National Petroleum Corporation (NNPC) says it has further crashed the price of Automotive Gas Oil (AGO) popularly known as Diesel from N175 to N155 per litre across most filling stations in the country.