Rising oil prices, shipping hitches worsen malaria in Nigeria
Rising oil prices are driving up the cost of mosquito nets produced using materials derived from crude oil, and orders are held up on the season account of the global shipping and logistics challenges arising from COVID-19.
Nigeria’s external debt grows by most among peers in 10yrs
Nigeria has grown its external debt stock by the most among African peers in the last 10 years, yet it is the one that would have lost a decade of economic growth by the end of 2021
Nigeria’s foreign trade records deficit of N3.02trn in third quarter
In the third quarter of the year (Q3 2021), Nigeria’s overall external merchandise trade deficit was N3.02trillion, as imports greatly outnumbered exports, resulting in an unfavourable trade balance.
Nigeria to grow gas reserves to 600trn cubic feet — minister
Minister of state for petroleum, Timipre Sylva, says the Federal Government is currently working to grow the country’s gas reserve from 206 trillion cubic feet to 600 TCF. Sylva gave the assurance on Wednesday at the 23rd World Petroleum Congress in Houston, Texas
IHS risks losing N380bn tower deal with MTN Nigeria over dollar pricing
IHS, the largest tower company in Africa, may lose an eight-year-old N380 billion contract after MTN Nigeria required the deal to be denominated in the local currency, the naira. IHS controls many MTN Group tower assets in different parts of Africa including Nigeria. In 2014, IHS acquired 4,154 towers from MTN
AFCFTA: Nigeria works with AFDB on $400m loan to boost exports
The Federal Government says it is working to secure $400 million facility from the African Development Bank (AFDB) to build agro-processing facilities to enhance export competitiveness. Minister of trade and investment, Niyi Adebayo confirmed this at a briefing organised by the Presidential Media team
MTN public offer: We are well-positioned for long term – Nigerian CEO
It is no small feat to find a company in the Nigerian stock exchange that is offering strong dividends and growth at the same time, the chief executive officer, MTN Nigeria, Olutokun Toriola says while narrating a compelling growth story of the telco giant.
The Marginal Field Bid Rounds – What to Know About Resolving Potential Disputes that Could Arise
The 2021 Marginal Field Bid Rounds (“The Bid Rounds”) concluded with 57 marginal field assets awarded to 161 companies by the Department of Petroleum Resources (“DPR”) in what was the 2nd bid round since 2002/2003.
Meta Unveils its Africa Year in Review for 2021
Meta released its ‘2021 Africa Year in Review’, an infographic capturing some of the company’s significant investments and initiatives in sub-Saharan Africa this year – focused on driving innovation, connecting communities, helping businesses to grow and supporting the tech and creator ecosystem.
Why Nigeria Does Not Agree with the Ban on Fossil Fuel Investments – Yemi Osinbajo
Being a keynote address delivered by His Excellency, Prof. Yemi Osinbajo, SAN, GCON, the Vice President of the Federal Republic of Nigeria at the 33rd Liquified Petroleum Gas Week 2021 in Dubai, UAE on December 7th, 2021.
Finance Bill: MDA Officials to Remit Gross Revenue Into Federation Account or Risk Jail Term
The federal government has proposed plans to mandate ministries, departments, and agencies (MDAs) to pay revenue generated in gross into the federation account or consolidated revenue fund (CRF).
BPE Names Management Team for Disco Taken Over by UBA
The Bureau of Public Enterprises on Thursday named members of the interim management team for the Abuja Electricity Distribution Company which was taken over recently by the United Bank for Africa.
Airport Concession Must be Transparent, Foreign Airlines Advise FG
The Association of Foreign Airlines and Representatives in Nigeria has advised the Federal Government via the Ministry of Aviation to ensure the ongoing concession of four international airports is transparent.