Oil price is rising again Tuesday, on slower output fears and amid expectations that US oil inventories fell again last week.

By 1120 BST, the price of Brent crude oil was 0.48% higher at $63.21 per barrel. The price of US WTI crude oil, meanwhile, was up 0.54% at $57.52 per barrel.

Nigerian oil workers embarked on a strike action Monday, due to claims of unfair treatment of oil union workers. However, the strike was called off the same day as talks between the Nigerian Government and Pengassan – the Nigerian oil and gas workers union – got back on track.

Leading energy firm in Nigeria, Oando Plc, on Friday, lost its appeal to stop plans by the Securities and Exchange Commission (SEC) to conduct a forensic audit of its affairs. Oando, after first losing its bid to stop the process at the Federal High Court sitting in Lagos last month, filed an appeal to challenge the lower court’s judgement. On Wednesday, the company filed a motion before the high court, seeking an injunction to preserve the ‘res’ pending the final determination of the appeal.

The Minister of Power Works and Housing, Babatunde Fashola said the federal government will work with the Manufacturers Association of Nigeria (MAN), the Lagos Chamber of Commerce and Industry (LCCI) and other stakeholders to get their load audit and deploy the available 2,000 megawatts (MW) of electricity to them. According to Dailytrust, the Minister stated this on Monday while speaking at the 22nd monthly power sector operators meeting held in Kogi State.

The Senate Committee on Power, has condemned plans by the Rural Electrification Agency, a parastatal in the Ministry of Power to spend N10 billion on solar power projects in nine universities in the six geo-political zone of the country.

Committee members raised concerns over the project at a 2018 budget defense session on Thursday with the Managing Director of the agency, Mrs Damilola Ogunbiyi.

The National Bureau of Statistics (NBS) disclosed that inflation slowed for the tenth consecutive month to 15.9 percent in November, the lowest in 18 months, this was made known in its Consumer Price Index (CPI) report for November 2017. The report noted that high food prices and food price pressure persisted during the month, driven by increases in prices of bread and cereal, milk, cheese, eggs, coffee, tea, cocoa, fish and Oil and fats.

The Federal Inland Revenue Service (FIRS) says that the Federal Government has realised the sum of N17 billion from the Voluntary Asset and Income Declaration Scheme (VAIDS) inaugurated in July.

Mr Babatunde Fowler, the FIRS Executive Chairman, said this in Lagos on Wednesday, at a media workshop on VAIDS.

Flower said that the N17 billion was voluntarily paid by some companies through VAIDS, an amnesty programme inaugurated by the government for taxpayers to regularise their tax status relating to previous tax periods.

Securities and Exchange Commission (SEC) has urged civil servants in Lagos State to take advantage of the free e-dividend registration period, which ends on Dec. 31, 2017, to enrol.

Dr Abdul Zubair, the acting Director-General of SEC, made the call in a statement by the management of the commission on Monday in Abuja.

The commission stated that Zubair, represented by the Director of External Relations of SEC, Mr Henry Rowlands, made the call at an ongoing sensitisation workshop in Lagos.

According to news and research firm, Disrupt Africa, Nigeria has emerged as a leader in e-commerce and is home to 40% of Africa's e-commerce ventures.

Gabriella Mulligan, co-founder of Disrupt Africa says the extent of Nigeria's dominance of the African e-commerce landscape is one of the most exciting findings from its recently published report Afri-Shopping: Exploring the African E-commerce Start-up Ecosystem Report 2017.

"For the first time, we have clear evidence of the outstanding trajectory of the country's e-commerce space as being driven by entrepreneurs," said Mulligan.

Members of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Saturday reiterated their resolve to commence indefinite industrial action on Monday. The group said since it issued a statement informing the general public that the meeting with the Federal Government was deadlocked, no significant progress had since been made to avert the planned action.

Oando Plc has headed for the Court of Appeal in its bid to lift the technical suspension imposed on its shares on the floor of the Nigerian stock market by the Securities and Exchange Commission. The oil company had earlier approached the Federal High Court in Lagos to challenge SEC’s suspension of its shares and an audit of its business activities by forensic experts hired by SEC.