Royal Dutch Shell Plc is in talks to sell two Nigerian oil licenses in an area that’s at the heart of environmental and human rights controversies for $2 billion, according to people familiar with the plan. The Anglo-Dutch oil major is discussing selling oil mining licenses 11 and 17 to Heirs Holding Ltd., a company […]
Author: Isaac Umunna
Nigeria to devise green bond issuance programme by end 2018 -environment minister
Nigeria’s debt office will devise a green bond programme before end of 2018, junior minister for environment said on Friday. Ibrahim Jibrin said the capital market could see issues of around 208 billion naira ($682.30 million) this year to fund projects to reduce carbon emissions. However, the ministry said it was a notional amount and […]
Though volatile, supply-side woes resurface to push oil prices higher
Monetary policy balanced against renewed questions about the supply of crude oil in the second half of the year to add volatility Friday to the price for oil. Crude oil prices moved erratically in Thursday trading as calls for restraint from Saudi Arabia offset gains in U.S. oil storage and production. There was a brief […]
Twitter appoints ex-Nigerian minister, Okonjo-Iweala to its board
Nigeria’s former finance minister Ngozi Okonjo-Iweala has been appointed to the board of directors of Twitter. Mrs Okonjo-Iweala served under President Olusegun Obasanjo from 2003 to 2006 and President Goodluck Jonathan from 2011 to 2015. She tweeted the news of her appointment, saying she was “excited” to work on a platform that connects people and […]
Nigeria central bank asks lenders to bid for Chinese yuan -traders
Nigeria’s central bank asked lenders on Friday to submit bids for the Chinese yuan, traders said, in the first auction after it agreed a $2.5 billion swap with its Chinese counterpart in May. Nigeria is Africa’s biggest nation by population and its largest economy due to its oil exports but it lacks a manufacturing base […]
Air France leaves Nigerians stranded in Paris
Passengers including hundreds of Nigerians on board Air France operated commercial Aircraft from France to Lagos and Abuja have since Wednesday been stranded at Charles De Gaulle International Airport, Paris. The News Agency of Nigeria (NAN) reports that many of them have to sleep at the airport from Wednesday for a day or two days […]
NPA To host International Maritime Conference
By Foster Obi The Nigerian Ports Authority would be hosting the International Association of Ports and Harbours (IAPH) Africa Regional Conference in Abuja, Nigeria from September 17 – 19, 2018. According to information obtained from the Local Organising Committee, the theme for the conference to be held at the Transcorp Hilton, Abuja, will be “African […]
Libya: 156 undocumented migrants rescued in open waters
At least 156 undocumented migrants have been rescued off Libya’s northwestern coast, the country’s navy said early Thursday. In a statement, naval forces affiliated with Libya’s UN-recognized unity government said the migrants were rescued 26 miles off the coast of the northwestern city of Khoms, located east of the capital Tripoli. Among the rescued, 10 […]
Apapa gridlock: Lagos Govt. turns to FG for solution
The Lagos State Government on Thursday sought the intervention of the Federal Government in enforcing the rule that all haulage operators must have designated parks immediately. The Commissioner for Information and Strategy, Mr Kehinde Bamigbetan, made the assertion in Lagos on the chaotic traffic situation in the state. Bamigbetan sympathised with the commuters and residents […]
‘Nigeria to need up to $300 million for new national carrier’
Nigeria’s new national airline will require initial capital of between $150 million and $300 million, and the government is seeking a strategic partner to operate the carrier, the government stated in a document seen by Reuters on Thursday. The West African country’s previous national carrier, Nigeria Airways, was founded in 1958 and wholly owned by […]