Oil, gas and power firms owe banks in the country about N3.931 trillion as at the end of December 2015, according to latest data released by the Central Bank of Nigeria, CBN.

A Kado Grade 1 Area Court, Abuja, on Wednesday sentenced a 46-year old woman, Salamatu Mohammed, to one month in prison for stealing five cell phones.

The Code of Conduct Bureau, CCB, said it has verified the assets that were declared by President Muhammadu Buhari and his Vice, Prof. Yemi Osinbajo, SAN.

Nigeria lost a potential for 3000 megawatt power, between January and February 2016, as oil and gas companies operating in the country flared 42.7 billion Standard Cubic Feet, BCF, of gas in the period under review.

Nigeria may witness a sharp reduction in revenue, as oil, the mainstay of the economy is likely to decline in production in the next five years, if cash call arrears, joint venture (JV) funding and the issue of long contracting cycle are not urgently addressed.