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Nigeria: We’re Interested in Nigeria’s Oil, Gas – Britain

oil

Britain has expressed its interest in Nigeria’s oil and gas industry. It expressed its readiness to invest in pipeline infrastructure, renewable energy, gas and power of the Nigerian Oil and Gas Industry. British High Commissioner, Mr. Paul Arkwright, made this promise when the Group General Manager, Group Public Affairs of the Nigerian National Petroleum Corporation, Mr. Ndu Ughamadu, visited the ...

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Nigeria: Telecoms regulator approves Etisalat name change

Etisalat-Wikipedia

Nigeria’s telecoms regulator has approved Etisalat Nigeria’s name change after its Middle East parent pulled out following regulatory intervention to save the local company from collapse due to debt, the company said. The Nigerian Communications Commission (NCC) has been notified of the new name, 9mobile, the company said, adding that Etisalat Nigeria had started the process of rebranding. The company ...

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U.S. seeks to recover $144M in bribes to former Nigerian oil minister

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The U.S. Justice Department on Friday filed a lawsuit seeking to recover assets that include a $50 million Manhattan apartment and an $80 million yacht that it said were bought using money generated from a scheme to pay millions of dollars in bribes to a former Nigerian oil minister. The civil lawsuit, filed in federal court in Houston, alleged that ...

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Nigeria, Libya Oil Output Threaten Global Market

oil

The increase crude oil output by both Nigeria and Libya has posed a threat to the global market, even as there are indications that the global oil market may see some rebound in the second half of the year. International Energy Agency, IEA, Chief, Fatih Birol, told Reuters in an interview that the development is seen as a distortion to ...

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Nigeria:Peace at risk in oil heartlands

niger

The Nigerian government’s efforts to secure peace in the oil heartlands of the Niger Delta are empty promises, community leaders say, threatening a return to violence that would derail any broader recovery in the crude-dependent economy. With Africa’s biggest economy mired in recession, delegations including Acting President Yemi Osinbajo have held talks since February with community leaders in the restive ...

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Nigeria, Libya Oil Output Threaten Global Market

oil

The increase crude oil output by both Nigeria and Libya has posed a threat to the global market, even as there are indications that the global oil market may see some rebound in the second half of the year. International Energy Agency, IEA, Chief, Fatih Birol, told Reuters in an interview that the development is seen as a distortion to ...

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Nigeria: U.S Transparency Bill to Expose Illicit Funds From Nigeria, Others

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A corporate transparency bill introduced in the U.S. Congress last week will force disclosure of Nigerians and other nationals who run shell companies registered in the United States. The bipartisan bill, ‘Corporate Transparency Act of 2017’, introduced by Congresswoman Carolyn Maloney, a Democrat, and co-sponsored by Congressman Peter King, a Republican, will compel disclosure of beneficial owners “to prevent wrongdoers ...

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Nigeria: Naira Rises to N359/$ in Investors/Exporters Window

naira

The naira yesterday recorded its biggest daily appreciation of N6 against the dollar in the Investors & Exporters (I&E) window, with the exchange rate falling to N359 per dollar. The naira also appreciated by N1 in the parallel due to weak demand for dollars. Vanguard survey revealed that the parallel market exchange rate dropped from N366 per dollar last week ...

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Zimbabwe: 700k Fingerlings Boost for Command Fisheries

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Government has distributed 700 000 fingerlings in 20 districts across the country as part of Command Fisheries launched by President Mugabe at Tokwe-Mukosi Dam in Masvingo last month. Parks and Wildlife Management Authority last week also stocked Insukamini Dam with 100 000 fingerlings of Nile Tilapia-Oreochromis Niloticus bream, a species which originated from Nile River. Speaking during the stocking of ...

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Etisalat Nigeria chairman resigns after debt talks collapse -sources

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The chairman of Etisalat Nigeria, Hakeem Belo-Osagie, has resigned from the telecoms company after talks to renegotiate a $1.2 billion loan collapsed, prompting a major foreign shareholder to exit the business, two company sources told Reuters. Abu Dhabi state investment fund Mubadala said on June 23 it had pulled out of Etisalat Nigeria after the telecoms firm failed to restructure ...

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