Anti-corruption associations on Monday threatened to take the Nigerian government to court in connection with a contract won by Italian oil major ENI to operate a neglected oil refinery. In early May, Nigeria’s junior oil minister Emmanuel Ibe Kachikwu announced that ENI had pledged a $15 billion investment deal, which included the repair, expansion and … Read more
The International Monetary Fund called on Nigeria on Thursday to lift its remaining foreign exchange restrictions and scrap its system of multiple exchange rates to revive the country’s recession-hit economy. The call came as part of a regular assessment of a country’s economy, in which the IMF also forecast that Nigeria’s economy would grow 0.8 … Read more
Nigeria’s gross domestic product fell by 1.5 per cent in 2016 due to lower oil revenues, the National Bureau of Statistics said on Tuesday, for its first annual contraction in 25 years. Africa’s largest economy slid into recession in the second quarter of 2016 as a slump in crude prices hammered the OPEC member’s public … Read more
The Nigerian city of Port Harcourt used to be known as “The Garden City” because of its soaring palm trees and green open spaces. But since late last year, black soot has been falling from the sky, scaring and angering residents of the oil hub who claim nothing is being done to protect their health. … Read more
The New Patriotic Party (NPP) flag bearer, Nana Addo Dankwa Akufo-Addo, has indicated that there are clear indications the party will win the December 7 general elections. He, however, urged the party’s supporters not to be complacent but work hard to ensure resounding victory. “The wind of change is blowing everywhere we go. But I … Read more
The Western Region can expect to be transformed into an international oil hub if the New Patriotic Party’s (NPP) latest promise is anything to go by. The NPP Flagbearer, Nana Akufo-Addo, assured the people of the region that, if voted into office, his government will develop the region into an oil services hub with a … Read more
The Western Region can expect to be transformed into an international oil hub if the New Patriotic Party’s (NPP) latest promise is anything to go by. The NPP Flagbearer, Nana Akufo-Addo, assured the people of the region that, if voted into office, his government will develop the region into an oil services hub with a … Read more
Warri (Nigeria) (AFP) – The Niger Delta Avengers on Saturday claimed responsibility for the destruction of a major oil pipeline in southern Nigeria, breaking a ceasefire the militant group had declared a month ago. In a statement, NDA spokesman Mudoch Agbinibo said the group attacked the Bonny pipeline in Rivers State on Friday as “a … Read more
Warri (Nigeria) (AFP) – Nigerian rebels claimed a Tuesday attack on a state-owned oil pipeline and accused the military of “endlessly harassing” the country’s south as they vowed to intensify their campaign of sabotage. The newly formed Niger Delta Greenland Justice Mandate (NDGJM) group said in a statement that they attacked a Nigerian Petroleum Development … Read more
The World Health Organization says the current deadly outbreak of the Ebola virus disease (EVD), formerly known as Ebola haemorrhagic fever in West Africa could infect more than 20,000 people before it is brought under control. The UN agency said the number of cases could already be four times higher than the 3,000 currently registered. … Read more