Business

Oil and Gas Exploration is on The Rise In Africa

Post author:Chinaza Okorie
Post published:Mar 8, 2022
Post category:Energy

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

Kwik Delivery successfully closed its $1.7 million pre-Series A financing round

Post author:Chinaza Okorie
Post published:Mar 28, 2021
Post category:Business

Nigerian company Kwik Delivery has successfully raised $ 1.7 million in equity from institutional and high net worth investors.

Source: African Energy Chamber

OPEC’s historic deal is a victory for African oil companies, empowers the industry to beat COVID-19

Post author:Patrick Otelemuye
Post published:Apr 14, 2020
Post category:Energy

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.

Nigeria joins other OPEC+ partners to cut World oil supplies

Post author:Patrick Otelemuye
Post published:Apr 14, 2020
Post category:Editor's Picks Energy

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.

Dangote Cement: Makoju Retires after 45 Years in Industry

Post author:Patrick Otelemuye
Post published:Dec 30, 2019
Post category:Business Editor's Picks

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.

Source: African Energy Chamber

Equatorial Guinea Pledges Continued Support to Foreign Operators in its Hydrocarbon Sector

Post author:Patrick Otelemuye
Post published:Dec 18, 2019
Post category:Energy Money

Equatorial Guinea continues to be proactive in encouraging foreign direct investment into the country

Federal Government of Nigeria to auction 100bn Bonds on March 27

Investors overshoot FG Bonds by 140bn

Post author:Macaulay Maduwuba
Post published:Mar 28, 2019
Post category:Business News

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 of Nigeria, CAC, reveals that it has registered 3,098,193 firms since inception in 1990

Only 3,098,193 firms registered since 1990

Post author:Macaulay Maduwuba
Post published:Mar 27, 2019
Post category:Business News

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…

Speaking at the presentation of 3,050 beneficiaries of the Tony Elumelu Foundation 2019 entrepreneurs seed funding stream, Tony Elumelu urged president Muammadu Buhari to improve electricity for entrepreneurs to thrive.

Improve electricity for entrepreneurs – Elumelu urges Buhari

Post author:Macaulay Maduwuba
Post published:Mar 23, 2019
Post category:Business Editor's Picks Money

Tony Elumelu, former Group Managing Director and CEO of United Bank for Africa (UBA) has urged president Muhammadu Buhari to improve electricity so entrepreneurship can thrive. He said this at the unveiling of 3, 050 successful applicants of the Tony Elumelu Foundation (TEF) on Friday, in Abuja. In the report by NAN, Elumelu said that entrepreneurship is the way to…

The Nigeria Ports Authority disclosed on Monday that ship load of fuel and other goods would arrive the country before March end

Nigeria expecting fifteen ship load fuel import in March – NPA

Post author:Macaulay Maduwuba
Post published:Mar 18, 2019
Post category:Business Energy

Nigeria will receive seventeen ship imports before the end, out of which, 15 of them are carrying fuel. This information was revealed by the Nigerian Ports Authority, NPA, in its daily publications 'Shipping Position'. The report, according to NAN, further discloses that the ships are expected to arrive between March 17 and March 29 at the Lagos Apapa/Tin Can Island…

Legacy of PDP: Nigeria loses $6bn in corrupt oil deal

Post author:Chinaza Okorie
Post published:Nov 26, 2018
Post category:Editor's Picks Energy

Nigeria will lose an estimated $6 billion in revenue to international oil companies, Shell and Eni, over the deal on the controversial oil block, widely known as Oil Prospecting License (OPL) 245. icirnigeria.org reported the new findings quoting a report by Global Witness called Take The Future. According to icir.org, leaked emails and confidential documents also showed that the oil…

Dr Maikanti Baru -NNPC

Baru claims NNPC has enough petrol stock

Post author:News Agency of Nigeria
Post published:Feb 7, 2017
Post category:Business Energy

NNPC Boss, Dr Baru said that the Corporation would continue to live up to its responsibility by intervening in the supply of deregulated petroleum products to ensure supply sufficiency.