Africa Alert brings you the top stories and the latest developments in key sectors of the Nigerian economy. To find out more about other Alerts visit https://www.africa-alert.com.

Africa Alert

Nigeria

Published: 10 Aug 2020 16:35

 Nigeria (69) 

Top Stories

Nigeria:  World Bank Board's Meeting Failure Delays Loan Request

The $1.5 billion, which is the first tranche of the federal government's $3 billion request from the World Bank is to be delayed as the much-awaited meeting of the multilateral institution's board of directors didn't hold yesterday as scheduled, THISDAY learnt. A reliable source disclosed that the federal government would now have to wait till either September or October ...

Source: This Day (07 Aug 2020 )  Share

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Nigeria: Nigeria Signs Deal to End Disputes Over Offshore-Oil Exports

Nigeria’s state oil company signed a preliminary agreement to end a dispute with two energy companies over oil exports, signaling a move toward resolving similar disagreements with other oil majors on revenue from several offshore oil fields.

Source: Bloomberg Africa (07 Aug 2020 )  Share

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Nigeria, China:  Chinese Loans Constitute Only 3.9% of Nigeria's Total Public Debt Stock - DMO

Total loans by the Chinese government and affiliate agencies to Nigeria is about $3.121 billion and constitutes only about 3.94 per cent of Nigeria's total public debt of $79.3 billion as of March 31, the Debt Management Office (DMO) has said. Also, in terms of external sources of funds, Chinese loans account for about 11.28 per cent of the country's external debt stock ...

Source: Premium Times (06 Aug 2020 )  Share

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Nigeria, USA:  U.S. Govt Advises Citizens Against Travelling to Nigeria

Amidst the worsening security situation across Nigeria, the U.S. government has advised its citizens not to travel to many states in Nigeria for security reasons. The reasons include terrorism, kidnapping, civil unrest and maritime crime. The U.S. government published this advisory on the website of its Department of State, Bureau of Consular Affairs. The U.S. ...

Source: Premium Times (07 Aug 2020 )  Share

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Nigeria: COVID-19: Buhari orders compulsory use of face masks nationwide

President Muhammadu Buhari has directed state governments and the Federal Capital Territory (FCT) to enforce the use of face masks in public places across the country. The Chairman, Presidential Task force on COVID-19, Mr Boss Mustapha, made this known at the daily briefing on Thursday in Abuja.

Source: Vanguard (06 Aug 2020 )  Share

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Nigeria: Mass sack: Pilots, engineers threaten to withdraw services

The National Association of Aircraft Pilots and Engineers (NAAPE), has issued a two-week ultimatum to airlines, who have sacked or plan to sack their pilots and engineers under the guise of COVID-19, to reverse the decision. Its President, Mr Abednego Galadinma, at a news conference on Wednesday in Lagos, said pilots and aircraft maintenance engineers […]

Source: Peoples Daily (07 Aug 2020 )  Share

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Nigeria: World Economy Heading Towards Recession Post COVID-19, Says Expert

Agbolade Omowole, the Chief Executive Officer of Mascot IT, an ICT firm has said that the global economy may be heading towards a recession post COVID-19. Agbolade who made this known during a two days virtual meeting held by Mascot IT with the aim to help Nigerians navigate through the storm that lies ahead courtesy […]

Source: Leadership (08 Aug 2020 )  Share

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Aid & Development

Nigeria:  How to recover Post COVID-19, by PIND

Executive Director of Foundation for Partnership Initiative in the Niger Delta (PIND), Dara Akala, has stated the Niger Delta region needs innovative approaches to skills development that will contribute to economic and growth post COVID-19 pandemic. Akala said unemployment is probably the most significant development challenge for government at national and sub-national levels, including the Niger Delta region as the world battles with the COVID-19 pandemic.

Source: The Nation (02 Aug 2020 )  Share

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Nigeria: NILDS, NNRC Toolkit On Natural Resources To Boost Economy – DG

The Director General, National Institute for Legislative and Democratic Studies (NILDS), Professor Abubakar O. Sulaiman has said that the NILDS Toolkit could help alleviate poverty and spur economic growth and social development in Nigeria. Professor Sulaiman made this known on Wednesday during the virtual validation of the National Institute for Legislative and Democratic ...

Source: Leadership (06 Aug 2020 )  Share

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Agriculture & Food

Nigeria, Tanzania, Uganda, Zambia: Consolidating Nigeria’s comparative advantage on cassava production through mechanisation | Tribune Online

AATF launched the programme in four countries-Nigeria, Uganda, Zambia and Tanzania to promote good agronomic practices, encouraging cassava farmers to use improved stem varieties, fertilisers and herbicides, and ensure timely farm operations. In Nigeria, the project is implemented in Oyo, Ogun, Osun, Kwara, Ondo, Edo, Delta, Niger and Ekiti and has recorded some milestones as ...

Source: Nigerian Tribune (04 Aug 2020 )  Share

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Nigeria:  Buhari's Agric Policy Saved Us From Food Scarcity - Nanono

Calabar — The Honourable Minister of Agriculture, Alhaji Sabo Nanono, has asserted that the Aright Agricultural Policies of the Buhari-led administration saved Nigeria from food scarcity in the heat of COVID-19 pandemic. Alhaji Nanono made the assertion on Thursday in during the Flag off/Roll out of agricultural input distribution to farmers Nationwide in Calabar. ...

Source: Vanguard (07 Aug 2020 )  Share

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Nigeria:  Governor Ikpeazu to Partner NALDA On Govt's Back-to-Farm Programme

Abuja — The Governor of Abia State, Dr Okezie Ikpeazu, moves to partner with National Agricultural Land Development Agency, NALDA, on Federal Government's Back-To-Farm programme. This was contained in a statement signed by Director, Communications, NALDA, Tope Ojeme, when Ikpeazu received a delegation of NALDA, led by the Executive Secretary, Prince Paul Ikonne, at ...

Source: Vanguard (07 Aug 2020 )  Share

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Nigeria: Arla Foods Partners FG To Boost Dairy Production, Builds Commercial Farm In Kaduna

Arla Foods has concluded plans to build a commercial dairy farm in Kaduna to develop the local dairy sector through backward integration. This diary farm will help Implement its very own commercial 400-cow Arla Dairy Farm in Damau, Kaduna State. In a statement made available to LEADERSHIP, the development was aligned and in conjunction with […]

Source: Leadership (06 Aug 2020 )  Share

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Nigeria:  The Wealth in Palm Trees

Palm tree is one of the richest trees on earth when it comes to natural endowment. No part of palm tree is wasted, every part of it can be converted into monetary gain. There are enormous products you can get from palm tree, some are known to us, while some are totally unknown. Let's look at various things we can use different parts of a palm tree to make: palm oil, wood ...

Source: This Day (03 Aug 2020 )  Share

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Banking/Financial Services

Nigeria: I-invest simplifies equities market investment for Nigerians

New and experienced retail investors can now own a piece of the companies listed on The Nigerian Stock Exchange (NSE) using the i-invest app on their smartphones from the comfort of their offices or homes. The secure investment app, which revolutionized fixed-income trading, now empowers investors in the equities market to execute trades during trading […] The ...

Source: Hallmark News (06 Aug 2020 )  Share

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Nigeria:  Nova Merchant Bank's N10bn Bond Oversubscribed By 300% - Official

The maiden N10 billion bond issue by Nova Merchant Bank was oversubscribed by over 300 per cent, its Chief Financial Officer, Ifeanyi Chukwuonye, has disclosed. Mr Chukwuonye said despite the negative impact of COVID-19 on the global economy, including Nigeria's, investors still swooped on the seven-year subordinated unsecured bond issuance. He said the decision by ...

Source: Premium Times (06 Aug 2020 )  Share

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Nigeria: Nigerian fintech startup AtaraPay launches escrow service

Nigerian fintech startup AtaraPay has launched its escrow service in a bid to provide a trusted and reliable service that removes monetary bottlenecks and resolves issues during transactions. AtaraPay is a web and mobile tool that can be used by both sellers and buyers for protection during any online or offline commercial transaction through funds held in escrow by a ...

Source: Disrupt Africa (05 Aug 2020 )  Share

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Economy/Markets

Nigeria: Nigerians' double blow: Currency woes and Covid-19

Entrepreneurs in oil-rich Nigeria are finding it difficult to weather the economic fallout of the deadly coronavirus pandemic and a plummeting currency. Three business owners explain how they are weathering the economic fallout.

Source: BBC News - Africa (02 Aug 2020 )  Share

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Nigeria: NSE: Trading sustains bullish trend, rises 0.45 per cent

Activities on the trading floor of the Nigerian Stock Exchange (NSE) maintained a bullish posture on Friday with the market indicators appreciating further by 0.45 per cent. Specifically, the All-Share Index rose by 111.06 points or 0.45 per cent to close at 25,041.40 compared with 24,930.34 achieved on Thursday. Also, the market capitalisation inched higher by N58 ...

Source: Premium Times (07 Aug 2020 )  Share

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Nigeria: Turnover in I&E forex window falls by 6% to $937m in July -

Forex By Elizabeth Adegbesan The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange market fell by six percent, month-on-month, to $937.27 million last month from $992.12 million in June, 2020. Similarly, the naira depreciated by N2.75 kobo in July as the indicative exchange rate of the window rose to ...

Source: Vanguard (06 Aug 2020 )  Share

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Nigeria: Revival of ailing industries will strengthen currency — Expert

Mr Promise Amahah, an economic expert says revamping ailing industries and economic diversification in the country will help to strengthen the value of the Naira among world currencies. Amahah stated while reacting to the fall of the Naira amid COVID-19 pandemic during an interview ...

Source: Vanguard (04 Aug 2020 )  Share

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Nigeria:  Report - Persistent Insecurity Hurting Investment, Development

Persistent insecurity in the north-east and some parts of the country poses a major threat to stability in Nigeria's macroeconomic and socio-political environment, analysts have warned. Analysts at Afrinvest West Africa Limited gave the warning in their latest macroeconomic report, pointed out that a climate of instability reduces confidence in the economy, leading to ...

Source: This Day (03 Aug 2020 )  Share

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Education

Nigeria: Coronavirus : espoirs et craintes à l'occasion de la réouverture des écoles au Nigeria

Les écoles secondaires du Nigeria ont rouvert leurs portes mardi, près de quatre mois après leur fermeture, afin de stopper la propagation du coronavirus.Translate

Source: BBC Afrique (04 Aug 2020 )  Share

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Nigeria: E-learning: Airtel partners Dynamiss on affordable data for students

By Juliet Umeh In order to lessen the burden parents bear on providing data for their wards who effects of COVID-19 have subjected to learning online, telecom operator, Airtel Nigeria has announced a partnership with an Educational Technology company, Dynamiss to subsidize data and mobile Internet. The partners said the collaboration will ensure that Data access for ...

Source: Vanguard (03 Aug 2020 )  Share

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Energy

Nigeria:  Why Electricity Supply Remains Poor Despite Privatisation - CEO, Century Power

A player in Nigeria's power sector, Chukwueloka Umeh, an engineer, breaks down the problems facing the industry. In a video he recently uploaded to Youtube, Mr Umeh, the chief executive officer of Century Power Generation Limited, explained the power value chain in Nigeria and why Africa's largest economy is unable to generate and supply enough electricity ...

Source: Premium Times (07 Aug 2020 )  Share

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Nigeria:  NNRA Seeks Upgrade of Nigeria's Nuclear Safety Laws

Abuja — The Nigerian Nuclear Regulatory Authority (NNRA) has continued its consultations with the National Assembly to re-enact the Nuclear Safety, Security and Safeguards Act (NSSS) bill. Already, the agency has met with the Senate Joint Committee on Petroleum Resources (Upstream) and that of Science and Technology on the hearing on the bill. The bill seeks to ...

Source: This Day (04 Aug 2020 )  Share

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Nigeria:  DISCOs Give Conditions to Accept Govt, World Bank Forensic Audit

Ten out of the 11 electricity distribution companies (Discos) in Nigeria's power sector have said that they will take part in a planned forensic audit of their operational activities by the federal government through the Nigerian Electricity Regulatory Commission (NERC) and the World Bank if certain conditions are guaranteed to them. This is coming as the NERC at the ...

Source: This Day (03 Aug 2020 )  Share

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Environment

Nigeria:  Hope As Yobe Begins Climate Action Plan

A few years ago, when scholars and researchers in the country working on social change predicted that the Northeast region would be impacted significantly as global warming causes serious climatic changes, Yobe State was a focus because of a particular belief that it is the "hottest" of the six states in the zone. The state's natural challenges include drought and ...

Source: Daily Trust (07 Aug 2020 )  Share

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Nigeria: ERA urges FG to set aside $100bn for cleanup of pollution in Niger Delta

The Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN) has urged the federal government to set aside $100billion for the cleanup of all oil-polluted sites in the Niger Delta and pay compensation to affected communities. This is as the body and other environmental activists have strongly condemned the inability of National Oil Spill Detection and ...

Source: Tribune Headlines Today (06 Aug 2020 )  Share

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Nigeria:  Ogoni Clean-Up - Govt, Shell Bureaucratic Bottlenecks Hampering Hyprep Activities - Era/Foen

Port Harcourt — The Environmental Rights Agenda/ Friends of the Earth (ERA/FoEN) has declared that bureaucratic bottlenecks of the Federal Government and Shell Petroleum Development Company (SPDC) were hampering the ongoing clean-up of impacted Ogoni environment by the Hydrocarbon Remediation Project (HYPREP). This is as it called on the Federal Government to ...

Source: Leadership (06 Aug 2020 )  Share

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Nigeria:  New National Forest Policy Will Preserve Ecosystems - Minister

Dr Mohammed Abubakar, the Minister of Environment, on Sunday said the new National Forest Policy, recently approved by the Federal Executive Council, would assist the country in managing and sustaining its vast forest resources. Abubakar made this known in a statement issued by Saghir el Mohammed, the Director Press of the ministry in Abuja. He said that the NFP would ...

Source: Daily Trust (03 Aug 2020 )  Share

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Healthcare

Nigeria: FG to pay June hazard allowance of medical workers from August 10

The federal government has assured medical workers handling COVID-19 pandemic cases across the country of payment of their June hazard allowance from August 10. The Minister of Labour and Employment, Chris Ngige, gave the assurance on Thursday at a meeting with the Nigerian Association of Resident Doctors (NARD) in Abuja. According to him, notwithstanding a shortfall in ...

Source: Premium Times (07 Aug 2020 )  Share

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Nigeria: Nigerian govt investigates drug stores over COVID-19 drugs price hike

Federal authorities in Nigeria are investigating some drug stores in the country over outrageous hiking of prices of hydroxychloroquine, a controversial anti-malaria drug used for COVID-19 treatment. PREMIUM TIMES reported how one drug store in Port Harcourt, Rivers state, Ebus Pharmacy Limited, was selling hydroxychloroquine at an exorbitant price of N50,000. The ...

Source: Premium Times (05 Aug 2020 )  Share

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Nigeria: NCDC: We’re working to ensure Nigerians have access to coronavirus vaccines

The Nigeria Centre for Disease Control (NCDC) says it is working hard to ensure that Nigerians have access to the coronavirus vaccines when available. Dr Chikwe Ihekweazu, Director-General of NCDC, gave the assurance during the Presidential Task Force (PTF) briefing on COVID-19 on Monday in Abuja. Ihekweazu said that the centre was working with the […]

Source: Peoples Daily (04 Aug 2020 )  Share

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Nigeria: Coronavirus: Majority of infected Nigerians contracted virus from unknown sources – Report

Majority of Nigerians who contracted COVID-19 so far did not have relevant travel history or exposure to another individual with the virus, meaning that the origin of their infection is unknown. This is according to the coronavirus situation report for August published by the Nigeria Centre for Disease Control (NCDC) on Sunday. Despite a continued decline in the daily ...

Source: Premium Times (03 Aug 2020 )  Share

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Housing/Real Estate/Construction

Nigeria: Why housing development is slow – REDAN

Housing development is slow because it is choked by several factors These include access to finance, land, materials and resources. Others are access to tilting, governor’s consent and approvals, which have made it impossible to have potent demands for housing as developers are almost choked by demands from the government and her agencies, the Chairman, Real ...

Source: Nigeria Real Estate (08 Aug 2020 )  Share

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Nigeria: NIOB Demands Professionalism in Building Construction, Induct Fellows

The national President of the Nigerian Institute of Building (NIOB), Bldr. Kunle Awobodu has reiterated that the Nigerian society stands to gain optimally when it realises and accepts that building production management is a distinct professional service rendered by builders. Awobodu made this assertion, recently, at the first-ever virtual induction of NIOB ...

Source: Nigeria Real Estate (08 Aug 2020 )  Share

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Internet/Telecoms/Technology

Nigeria:  Fake News and the Social Media

WhatsApp is Nigeria's biggest social network which can be found in the phones of 85 per cent of Nigerian social media users - but too often the platform is used to spread dangerous misinformation. During the last Ebola outbreak WhatsApp users were told to bathe in salt water to protect themselves from the deadly disease. As a result, at least two people died. The ...

Source: This Day (07 Aug 2020 )  Share

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Nigeria: USSD: Banks owe telcos N17bn, says Danbatta - Vanguard News

By Prince Osuagwu, Hi-Tech Editor The Executive Vice Chairman, Nigerian Communications Commission, NCC, Professor Umar Garba Danbatta, on Thursday, disclosed that commercial banks in the country owe telecommunications companies, telcos, over N17 billion on deductions made from subscribers’ bank transfers since 2019. (adsbygoogle = ...

Source: Vanguard (07 Aug 2020 )  Share

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Nigeria:  Telecommunications Sector Update - Now for Digital Transformation

Now more than ever, we believe that the Nigerian telecommunications sector is set to take a leading role in the government's effort to diversify the economy. On the back of significant investments by the mobile networks, the sector's contribution to GDP has risen steadily from c.7.7% in 2012 to c.10.9% in Q1 2020. It is now larger than that of the oil sector (9.5% Q1 2020 ...

Source: This Day (06 Aug 2020 )  Share

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Nigeria:  Galaxy Backbone Assures Nigerians On NICTIB Implementation

The Director General and Chief Executive Officer of Galaxy Backbone, Muhammad Abubakar, has assured Nigerians of the full implementation of the $400 million National Information and Communications Technology Infrastructure Backbone (NICTIB) Phase II project. While listing the benefits of the technology project to the Nigerian economy, Abubakar told THISDAY that Galaxy ...

Source: This Day (06 Aug 2020 )  Share

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Nigeria:  Group Seeks New Strategies to Address Cybersecurity

The Nigeria Computer Society (NCS), a body of information technology (IT) professionals, interest groups and stakeholders in Nigeria, is preparing for the best line-up of leading researchers, entrepreneurs, among others, that that will come up with strategies to address Nigeria's cyber-security challenges. NCS has identified cybersecurity and other challenges as major ...

Source: This Day (06 Aug 2020 )  Share

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Nigeria:  Nitda Develops Frameworks to Leverage 4th Industrial Revolution

The Director-General of National Information Technology Development Agency (NITDA), Mallam Kashifu Inuwa Abdullahi has said that the agency is working round the clock to leverage the advantages of 4th Industrial Revolution by developing compliant frameworks to the revolution. He said the effort was in reaction to several studies that have indicated that some jobs are ...

Source: Vanguard (05 Aug 2020 )  Share

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Manufacturing

Nigeria: Nigeria’s manufacturing sector records marginal growth in July

Nigeria’s purchasing manager’s index report for this month shows a contraction in the manufacturing sector for the third consecutive month but a minor improvement from the last two months, as the economy continues to grapple... The post Nigeria’s manufacturing sector records marginal growth in July appeared first on Ventures Africa .

Source: Ventures Africa (30 Jul 2020 )  Share

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Media

Nigeria: NBC chief defends controversial broadcasting code, attacks Iroko TV

The Director-General of the National Broadcasting Commission (NBC), Armstrong Idachaba, has defended the controversial amendments to Nigeria’s broadcasting code which, among others, bans exclusive content on Pay TV. Mr Idachaba also alleged that Iroko TV, a web platform that provides paid-for Nigerian films on-demand, has not invested in Nigeria despite the revenue ...

Source: Premium Times (09 Aug 2020 )  Share

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Nigeria: We encourage Nigerian youths with talented skills in entertainment — TNT Group Boss

Adefemi Ayo Adefemi is the Chairman of TNT TV Group, acronym Tiwa ‘N’ Tiwa in Yoruba language. The TV station is one of the best entertainment channels ever produced in Nigerian TV industry, mainly to support and harness the talent of Nigerian youths, while providing unprecedented entertainment and educative programmes to all Nigerians and Africans in diaspora. Mr ...

Source: Vanguard (08 Aug 2020 )  Share

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Mining

Nigeria:  Japaul Gold and Ventures Assures Shareholders of Bright Prospects

The Chairman of Japaul Gold and Ventures Plc, Mr. Paul Jegede, has assured shareholders of bright prospects, following its new business focus from oil and gas servicing sector to natural resource management. The company has diversified from oil and maritime services business to the exploration, mining, processing and export of minerals, such as gold, lithium among ...

Source: This Day (07 Aug 2020 )  Share

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Nigeria:  Going for Gold

The presidential artisanal gold mining initiative could help Nigeria build a profitable gold market In 2019, the federal government launched the Presidential Artisanal Gold Mining Development Initiative (PAGMI) as a comprehensive plan to develop artisanal gold mining practices in Nigeria. Initiated to formalise and integrate the sector into the economy, PAGMI sought to ...

Source: This Day (03 Aug 2020 )  Share

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Oil & Gas

Nigeria: Suspend Services To Lagos, NUPENG Tells Tanker Drivers

The national leadership of the Nigeria Union of Petroleum and Natural Gas (NU- PENG) workers has directed petroleum tanker drivers to withdraw their services from Lagos State with effect from Monday. NUPENG said the directive followed the failure of various authorities in the state to address three major issues that had severe- ly caused petroleum […]

Source: Leadership (08 Aug 2020 )  Share

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Nigeria: ExxonMobil Nigeria gets new chief executive

ExxonMobil on Saturday announced the appointment of Richard Laing as Chairman and Managing Director of its three affiliates in Nigeria. The Manager, Media and Communications, ExxonMobil, Ogechukwu Udeagha, confirmed this in a statement in Eket. The three affiliates are Mobil Producing Nigeria Unlimited, Esso Exploration and Production Nigeria Limited and Esso Exploration ...

Source: Premium Times (08 Aug 2020 )  Share

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Nigeria: UBA supports Nigeria’s oil production with $200m facility

Adebayo Obajemu United Bank for Africa noted for it’s fidelity to corporate social responsibility, and auspicious interventions during national economic crises , has again move to boost the depressed national oil and gas sector reeling from the effects of the pandemic. The leading lender made headlines once again for the right reasons, as the petroleum ...

Source: Hallmark News (07 Aug 2020 )  Share

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Nigeria: Petrol: Oil marketers bemoan confusion, accuse FG of price disparity

Oil marketers, under the aegis of Independent Petroleum Marketers Association of Nigeria, IPMAN, and Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, yesterday, bemoaned the confusion fostered on the downstream sector of the Nigerian petroleum industry by the Federal Government, warning that Tuesday hike in the price of petrol ...

Source: Vanguard (07 Aug 2020 )  Share

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Nigeria: Shell happy with 20km domestic gas pipeline project in Aba

Shell Nigeria Gas (SNG) Company has stated that it is proud of its domestic gas infrastructure investment in Aba, Abia State. SNG Managing Director, Ed Ubong who stated this on Monday at the completion phase of the 20-kilometer domestic gas pipeline expansion project that connects Ogbor Hill, Osisioma and Ariaria industrial zones in Aba, noted […] The post Shell ...

Source: Hallmark News (04 Aug 2020 )  Share

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Nigeria:  Govt Reiterates Pledge to Unlock Opportunities in Gas Sector

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said Africa, particularly Nigeria, has huge gas resources which can be harnessed and leveraged for economic growth opportunities. Mele, stated this at the Seplat Energy Summit 2020 with the theme "Business Sustainability and Strategic Leadership in Africa.' The summit featured ...

Source: This Day (03 Aug 2020 )  Share

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Nigeria: NNPC, First E&P’s upgraded FPSO vessel returns to offshore Nigeria

The Abigail-Joseph Floating, Production, Storage, and Offloading (FPSO) unit has arrived at the shores of Nigeria, the Nigerian National Petroleum Corporation (NNPC) and FIRST Exploration and Petroleum Development Company Limited (FIRST E&P) have said. The post NNPC, First E&P’s upgraded FPSO vessel returns to offshore Nigeria appeared first on ...

Source: Ventures Africa (29 Jul 2020 )  Share

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Nigeria: Malabu Oil: Nigeria expecting $200m from Netherland, Switzerland – Malami

By Vivian Okejeme, Abuja The Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), yesterday revealed that Nigeria is awaiting the return of $200million from Netherlands and Switzerland, as part of the OPL 245 Malabu Oil. The AGF also said that the Ministry of Justice facilitated the recovery of $62billion arrears owed the […]

Source: Peoples Daily (29 Jul 2020 )  Share

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Politics

Nigeria: NDDC Probe: Urhobo Youths write Buhari to sack Akpabio within 7-days

ABUJA — THE Urhobo Youth Assembly, UYA, has urged President Muhammadu to sack the Minister of Niger Delta Affairs, Senator Godswil Akpabio within seven days. UYA in a letter to the President dated August 7, 2020, alleged that in the past 20 years of existence of the Niger Delta Development Commission, NDDC, no statutory board of the ...

Source: Vanguard (09 Aug 2020 )  Share

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Nigeria: Security Apparatus Overhaul: Ex-Katsina Guber Candidate, Khalil Hails PMB

A two-time Katsina State governorship candidate of the legacy party All Nigerians People Party, ANPP, Engr. Nura Khalil, has commended President Muhammadu Buhari for the decision to overhaul Nigeria’s security apparatus. Khalil, who worked with President Muhammadu Buhari at the defunct Petroleum Special Trust Fund(PTF) explained that the President’s ...

Source: Leadership (08 Aug 2020 )  Share

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Nigeria: Tinubu likens Obaseki to dictator, says governor working against Edo people

A chieftain of the ruling All Progressives Congress (APC), Bola Tinubu , has drawn a parallel between Edo State’s governor, Godwin Obaseki, and Nigeria’s past military dictators. “Obaseki’s governance recalls the worst excesses of our military past and represents a direct threat to the democratic order,” Mr Tinubu wrote in a statement on Twitter, ...

Source: Premium Times (08 Aug 2020 )  Share

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Ports & Shipping

Nigeria: Shippers’ Council halts cargo transfer charges - Vanguard News

By Eguono Odjegba NIGERIAN Shippers’ Council, NSC, has directed the immediate stoppage of arbitrary charges imposed on transportation of cargo to off-dock terminals, describing the act as unethical and unacceptable. (adsbygoogle = window.adsbygoogle || []).push({}); The ports economic regulator also directed that “all transfer ...

Source: Vanguard (05 Aug 2020 )  Share

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Nigeria: WACT reiterates commitment to deepening investment in Nigeria

Nigeria’s leading container terminal, West Africa Container Terminal (WACT), has restated its commitment to deepening investment in Nigeria, particularly in increasing container handling capacities at the Onne Port. The move, WACT officials said, was in line with the directive of the Nigerian Ports Authority (NPA) to concessionaires to improve on their operational capacity ...

Source: Daily Trust (05 Aug 2020 )  Share

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Retail/wholesale

Nigeria: South African retail giant ShopRite says it may sell 'all or a majority stake' in Nigeria business

South Africa's supermarket retailer, ShopRite, has announced it is considering a sale of "all or a majority stake" of its business in Africa's biggest economy, Nigeria, 15 years after it opened in the West African country. In a statement released Monday, the company said it is re-evaluating its operating model and has been approached by many investors willing to take over its Nigerian stores.

Source: CNN (03 Aug 2020 )  Share

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Trade & Investment

Nigeria, Africa: Trade agreement will boost Africa’s economy, experts say

Legal experts have assured that the commencement of the Africa Continental Free Trade Agreement (AcFta) in January 2021 would boost the economies of member nations. They gave the assurance at a webinar organized by the Alliance Law Firm, Lagos with the theme: “Leveraging international trade law for the recovery of the global economy during the post COVID-19.” ...

Source: The Guardian (04 Aug 2020 )  Share

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Nigeria, China: Chinese Loans And Their Benefits To Nigeria

From the outset, I wish to state that I am neither an economist by training nor am I party to the loan deals between Nigeria and China, but the hoopla the issue has generated triggered my interest in the subject sufficient enough to warrant this piece as a social commentator cum analyst on global affairs. […]

Source: Leadership (09 Aug 2020 )  Share

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Nigeria:  'Nigeria Can Boost Forex Earnings Through Export of Spices'

Nigeria has been urged to capitalise on and explore its comparative edge in spices by supporting local farmers as the global market for the commodities is projected to reach $21 billion by 2024. Trade policy expert, Dr. Olumuyiwa Alaba, gave the charge at the first virtual non-oil exporters' dialogue with the theme 'Addressing Barriers to Foreign Market Access' organised ...

Source: Daily Trust (28 Jul 2020 )  Share

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Transport

Nigeria: Nigeria Lekki Toll Road Project helps Lagos residents commute with ease

In Nigeria, Africa’s most populated country, traffic has been a notorious problem for those wishing to move around Lagos, the country’s economic capital.The African Development Bank investment in the Lekki Toll Roll Project which has upgraded and widened the Lekki Expressway will relieve traveling woes for the estimated 85,000 cars who travel this bridge daily.

Source: African Development Bank Group (03 Aug 2020 )  Share

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Nigeria:  Bristow Sacks Striking Staff

Lagos — Barely 24 hours after Nigeria's biggest airline, Air Peace sacked over 70 pilots citing COVID-19 crisis, another airline, Bristow Helicopters, has also terminated the appointment of over 100 pilots and engineers whose union began an industrial action on Monday. The airline working in the oil and gas sector said those sacked comprised both Nigerian nationals ...

Source: Daily Trust (05 Aug 2020 )  Share

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Nigeria: Plentywaka raises $300k pre-seed funding; expands to Abuja

August 05, 2020: Plentywaka, a Nigerian bus-hailing startup has raised a pre-seed capital of $300,000. It is also expanding to Abuja. The pre-seed round investment was led by Niche Capital, Microtraction and EMFATO Holdings. Until last week, Plentywaka was a portfolio company under CrowdyVest Holdings. The holding company has undergone a reshuffling process and is now ...

Source: Logistics Update Africa (05 Aug 2020 )  Share

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Nigeria: C’River Gov Seeks PMB, Northern Leaders Intervention For 275km Superhighway Project

Worried by the lack of support from the federal government for the ongoing construction of the state’s superhighway, Cross River State governor, Sir Ben Ayade has enlisted the support of northern Nigerian leaders for the project. Ayade also called on President Muhammadu Buhari to fulfill his earlier pledge made while performing the groundbreaking for the project. ...

Source: Leadership (04 Aug 2020 )  Share

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