Tag: Nigeria

Nigeria Undermines OPEC Projections, Fails To Meet Quota In April

Abibat Babalola

Nigeria, Libya and a handful of African countries again hobbled the projected oil production plan by the Organisation of Petroleum Exporting Countries (OPEC) in April, failing to meet the quota allocated to them by the oil producers’ group. Crude oil theft and lack of investment made Nigeria lose on the average between 350,000 to 400,000 barrels per day during the period under review according to the minister of state for Petroleum Resources, Timipre Sylva He said the country has, however, begun to ramp up its production level and very soon…

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Food Prices Surge As Nigerian Inflation Jumps to 15.92% in March

Efe Wellington

Price of diesel, which is used to power generators by most businesses in Nigeria, has skyrocketed, hitting more than double of its value in the past month   Nigeria’s double-digit inflation quickened to 15.92% in March, rising for a second straight month as prices for food and non-food items rose in Africa’s biggest economy, the statistics office said on Friday. Inflation, which has been in double digits since 2016, rose from 15.70% in February, it said. READ ALSO: Eni Lifts Force Majeure, Ends 50m scuf Gas Loss on Nigeria’s Okaka…

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Nigeria, Senegal Ink MoU on Local Content Development

Efe Wellington

This is part of Nigeria’s strategic support to the development of Local Content across the African continent, which has already been extended to Ghana, Niger Republic, Uganda, Kenya, Gabon, Ugandan, and Congo Brazzaville The Nigerian Content Development and Monitoring Board (NCDMB) and the authorities of the Senegalese Petroleum Industry agreed on Tuesday to sign a Memorandum of Understanding (MoU) to guide Nigeria’s support for the development of Local Content in Senegal. This agreement was reached during a meeting in Lagos between the Executive Secretary, Engr. Simbi Kesiye Wabote and key…

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Imafidons: Meet Migrants From Nigeria now Named Smartest Family in Britain

Wonuola Olujobi

A Nigerian family in the United Kingdom has been reported to be the smartest family in the UK presently. A report entitled: “The Exploits of the Imafidons in UK,” sighted by Platforms Africa, gave detailed reason the family is considered the UK smartest. “The Imafidons are a Nigerian family of 7 living in England. Their father is Chris Imafidon and their mother is Ann Imafidon. Both parents are from Edo state who emigrated to England more than 30 years ago. They have 5 very intelligent children between them,” the report read.…

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Nigeria, Russia ink military deals as US embargoes $1b arms’ sale to Buhari

Aliyu Aliyu

How US lawmakers have put a hold on a proposal to sell almost $1bn of weapons to Nigeria over concerns about possible human rights abuses by the government   Nigeria and Russia have signed a military cooperation deal providing a legal framework for the supply of equipment and the training of troops. Platform Africa, which reports this, quoted the Nigerian embassy in Moscow to have confirmed the deal on Wednesday, August 25, 2021. Nigerian President Muhammadu Buhari had expressed interest in such a pact with Russia as far back as…

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Nigeria, African Oil Producers Canvass Regional Investments, New Climate Change Deal

ADESUPO OSOSANYA

The maiden edition of the African Local Content Roundtable ended on Friday at the Nigerian Content Tower in Yenagoa, Bayelsa State, with a strong push by Nigeria and other members of the African Petroleum Producers Association (APPO) to develop regional oil and gas investments and renegotiate the COP-21 Climate Change Agreement which is driving the accelerated move by developed countries to disuse fossil fuels (oil and gas) as the preferred source of energy for transportation and embrace renewable sources. The Minister of State for Petroleum Resources, Chief Timipre Sylva delivered…

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Nigeria, Ghana device mechanism to end worsening trade dispute

Aoko Benjamin

  Two two prominent economies in West Africa,  Nigeria and Ghana, have put in place a mechanism to end the trade dispute between Nigerian traders and the Ghanaian authorities, the Speakers of the Parliaments of the two countries have said. The dispute arose from the $1million business participation fee introduced by the Ghanaian authorities, required of foreigners to pay before they can do business in Ghana.   READ ALSO: Twitter Office in Ghana not a loss for South Africa, Kenya. Why Nigeria?   Lagos NURTW Leader Shot Dead At APC…

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Nigeria, World Bank bicker on Country’s Electricity Supply Hour, Others

Tade Salako

The Nigerian Government has rejected a survey conducted by the World Bank, questioning claims in the survey that 78% of power consumers in Nigeria get less than 12 hours of daily supply of electricity. The government’ which said this in a statement sent to Platforms Africa issued in Abuja on Sunday by the Special Adviser to the President on Infrastructure, Mr. Ahmad Rufai Zakari, argued that it was unclear what empirical evidence the World Bank used to arrive at the figures, insisting that power distribution to consumers is steadily improving.…

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