Category: West Africa
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Nigeria: Foreign Reserves Hit U.S.$30.5 Billion On Rising Oil Prices
The nation’s foreign reserves reached U.S.$30.5 billion last week as a result of increased global oil prices, checks by LEADERSHIP on the Central Bank of Nigeria’s website have revealed. Data from Organization of Petroleum Exporting Countries (OPEC) revealed that basket of 14 crudes stood at $47.48 per barrel last week from $45.21 a barrel it…
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Nigeria: We’re Interested in Nigeria’s Oil, Gas – Britain
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,…
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Nigeria: Telecoms regulator approves Etisalat name change
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…
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U.S. seeks to recover $144M in bribes to former Nigerian oil minister
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…
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Nigeria, Libya Oil Output Threaten Global Market
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…
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Nigeria:Peace at risk in oil heartlands
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…
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Nigeria, Libya Oil Output Threaten Global Market
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…
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Nigeria: U.S Transparency Bill to Expose Illicit Funds From Nigeria, Others
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…
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Nigeria: Naira Rises to N359/$ in Investors/Exporters Window
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…
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Zimbabwe: 700k Fingerlings Boost for Command Fisheries
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.…