Oil and Gas Exploration is on The Rise In Africa
In its Q1 2022 Outlook, The State of African Energy, the African Energy Chamber investigates Africa’s oil and gas exploration landscape in 2022 and beyond
In its Q1 2022 Outlook, The State of African Energy, the African Energy Chamber investigates Africa’s oil and gas exploration landscape in 2022 and beyond
Nigerian company Kwik Delivery has successfully raised $ 1.7 million in equity from institutional and high net worth investors.
Mastercard has over 70 million customers in Nigeria, making it the de facto leader on the debit card market in the country
OPEC and OPEC+ member countries have finally decided to cut oil production by 9.7 million barrels a day starting on May 1st, 2020 and until June 30th, 2020.
The curtailment of crude oil production by 9.7 million barrels promises an appropriate balancing of Nigeria’s 2020 budget that has been rebased at $30 per barrel.
The African Development Bank (AfDB) raises $3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and Africa’s economies.
Engr. Makoju, popularly called Mr. Cement, is bowing out after 45 years of transformational leadership in the cement industry. The Board has however approved the appointment of Mr. Michel Puchercos as his replacement as the Group CEO, effective 1st February 2020.
The Economic Community of West African States (ECOWAS) endorses Nigerian Akinwunmi Adesina for second term as President of the African Development Bank.
Equatorial Guinea continues to be proactive in encouraging foreign direct investment into the country
Foreign exchange reserves have risen to a six-month high of $44.14bn, data obtained from the Central Bank of Nigeria (CBN), shows. It gained over $1.8bn to strengthen against a dip in Februrary 28 when it dropped to $42.296bn. The CBN data shows the reserves rose slightly from $43.116bn on December 31, 2018, to $43.174bn on January 31, 2019, before falling…
National leader of the All Progressives Congress (APC), Bola Tinubu, has kicked against reports of government's plan to increase the Value Added Tax (VAT). The VAT which is charged at 5% could be hiked to 50% considering statement attributed to Minister of Finance, Zainab Ahmed, that the Nigerian government has concluded plans to increase revenue by introducing new taxes. Officials…
Investigations have revealed that mobile telecommunication subscribers in Nigeria spent N767.23bn on airtime from November 2018 to January 2019. The figure is generated from the number of active subscribers in the months under review, which was obtained from the Nigerian Communications Commission (NCC) and the industry’s Average Revenue Per User (APRU) provided by network operators. NCC data shows that there…
Federal government bonds put out for subscription on March 27 was oversubscribed in excess of 140bn by investors. This was revealed by the Debt Management Office (DMO) in a statement released on Wednesday. The DMO statement read: “The FGN Bond auction for March 2019 conducted on Wednesday at which N100bn bonds were offered was oversubscribed just as in the auctions…
The Corporate Affairs Commission (CAC), the body responsible for incorporation of enterprises in Nigeria has revealed that it has registered 3,098,193 firms since inception. It said the figures are since the founding in 1990 to March 21, 2019. The number covers all categories of businesses in Part A, B and C. Acting Registrar of the Commission, Mrs Azinge Azuka disclosed…
The Nigeria Stock Exchange (NSE) reveals in its latest foreign portfolio investment report that foreign inflows to the economy increased by 91.24 percent between January and February. Foreign Inflow stood at N22.97bn in January and N43.93bn in February It also reported an increase in foreign outflows from N27.81bn in January to N55.01bn in February, marking a 97.8 per cent increase.…