Fez Delivery announces Seed raise of $1 million led by Ventures Platform
This funding announcement follows Fez Delivery's acceptance as one of the only two logistics companies in Nigeria to have received investment from Techstars Toronto.
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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
Kwik Delivery successfully closed its $1.7 million pre-Series A financing round
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
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
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
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
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
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
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
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
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
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
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.
DPR seals four petrol stations in Abuja
The Department of Petroleum Resources (DPR) has sealed four petrol stations in Abuja for hoarding, under dispensing and other sharp practices in selling Premium Motor Spirit (PMS)
The new President (NSE) Alhaji Aliko Dangote and Prof Ndi Okereke-Onyiuke, DG (NSE) at the 48th Annual General Meeting of Nigerian Stock Exchange (NSE) at the Stock Exchange building in Lagos. Photo: Biodun Ogunleye - Punch
Dangote pledges to assist FG to turnaround Nigeria’s economy
Foremost industrialist and richest man in Africa, Alhaji Aliko Dangote, has restated his commitment to assist the Federal Government in turning around and diversifying the country’s economy.
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