Category: West Africa

The long-awaited Nigeria oil and gas as well as the solid minerals sectors 2013 audit reports by the Nigerian Extractive Industries Transparency Initiative, NEITI, was officially unveiled in Abuja on Monday. The Minister of Solid Minerals and Chairman, NEITI Board, Kayode Fayemi, who unveiled the report, said the document contained damning revelations about revenues either…

At least the taxi drivers of Lagos are happy, even if businessmen in Nigeria’s commercial capital are not. A year after becoming president, Muhammadu Buhari pulled out of his first official visit to Lagos on Monday, averting citywide gridlock but angering business leaders who say the 73-year-old former military ruler is deaf to their plight.…

A Federal High Court sitting in Lagos has ordered former Minister of Finance, Dr. Ngozi Okonjo-Iweala and the Federal Government to give account of how N30 trillion that accrued to government during the last four years of the former President Goodluck Jonathan’s administration was managed.‎ In his ruling, the presiding judge, Justice Ibrahim Buba ‎said…

The Nigeria oil and gas as well as the solid minerals sectors Nigerian Extractive Industries Transparency Initiative NEITI audit report for 2013 has been published. The Minister of Solid Minerals and Chairman of the NEITI Board, Kayode Fayemi, said the audit, which focused on all aspects of the extractive industries, showed that total revenue flows…

As the latest statistics indicated that the nation’s real Gross Domestic Product (GDP) growth rate from 2.11 per cent in the fourth quarter (Q4) of 2015 to -0.36 per cent in the first quarter (Q1 2016), the federal government is to review and analyse the latest growth data for underlying issues it may not have…

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said the federal government would have had to shop for N16.4 billion every month to offset subsidy claims of petrol marketers if it had not taken the decision to remove subsidy on fuel consumption. Kachikwu explained in a tweet on his twitter handle @ibekachikwu…

Royal Dutch Shell does not know when its Nigerian Forcados oil terminal will reopen as the repairs to an underwater pipeline damaged by a blast are not straightforward, its country head was quoted as saying on Sunday. Shell shut the 250,000 barrel a day terminal in February after an attack on an underwater pipeline claimed…

Nigeria’s central bank denied a report that it planned to devalue the naira, while the International Monetary Fund (IMF) reiterated that Nigeria would benefit from a more flexible exchange rate but said no request for funds had been made. Talk of a devaluation has been rife since Vice President Yemi Osinbajo said on Wednesday the…

MTN Group’s interim executive chairman is to stay on in his role while he continues to try and settle the dispute with Nigeria over a $3.9 billion fine imposed on the South African telecoms company, its spokesman said on Thursday. Phuthuma Nhleko took temporary charge of Africa’s biggest mobile phone networks operator in November after…