Africa is not ready for next-generation 5G network but would likely be ready to embrace the super-fast technology in about five years from now, MTN’s chief executive of said on Tuesday. 5G networks, now in the final testing stage, will rely on denser arrays of small antennas and the cloud to offer data speeds up […]
Besides the shallow trend of Nigeria’s economic diversification, the trade war between the United States (U.S.) and China is increasing its susceptibility to shocks, given that domestic growth in the oil and gas sector has remained pressured in the last six months. The trade war, according to FXTM’s research analyst, Lukman Otunuga, is not only […]
The South African government is ready to intervene in a dispute between telecoms company MTN Group and the Nigerian government, if MTN asks for help, South Africa’s Telecommunications Minister Siyabonga Cwele told Reuters. “If they need our assistance, then we will engage our counterpart in Nigeria,” Cwele said on the sidelines of a telecoms conference […]
The Federation Accounts Allocation Committee (FAAC) has disbursed N3.946 trillion in the first half of 2018 to Federal, State and Local Governments, the Nigeria Extractive Industries Transparency Initiative (NEITI) quarterly report has revealed. The report released in Abuja, on Monday, noted that amount rose by 41.4 per cent compared to N2.788 trillion disbursed in the […]
The commercial viability of over 500 million barrels of crude oil reserves stranded in the Nigeria–São Tomé and Príncipe Joint Development Zone (JDZ) has been called to question, as the region is yet to produce its first oil 17 years after discovery. In fact, the JDZ, where crude oil was expected to be drilled, is […]
There are concerns over the steady decline of Nigeria’s foreign reserves since the last three months despite the rise in oil prices and accruals from foreign bonds issuance. Exclusive findings by Leardership Sunday showed that the reserves recorded a huge decline from $47,787,183,153 billion where it was on June 22, 2018 to a “worrying” point […]
… Nigeria is Open for Opportunities Says Ambassador Tuggar By Foster Obi The Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dakuku Peterside has charged foreign investors to tap in to the opportunities that abound in the African maritime sector stating that the continent is one of the largest in terms […]
Nigeria’s minister of State for Petroleum Resources, Ibe Kachikwu, has said that Brent crude oil price below a $65 mark will be rough for Africa’s largest economy thus, expects the price to remain well at the $70 dollar range through till next year. “I like the feel of crude oil prices staying around $70 which […]
Following recent refusal of entry to the free zone of Samsung Heavy Industries Nigeria (SHI) staffs, the management of Lagos Deep Offshore Logistics, LADOL, broke silence on reasons for such action, Vanguard writes. LADOL explained that the action to deny entry of SHI was in pursuance to the company’s gross negligence and total insubordination to […]
The federal government has solicited the support of Nigeria Agip Oil Company (NAOC) in its current remediation (NAOC) efforts in the Niger Delta region, noting that such activities were hamstrung by paucity of funds, Thisday reports. It also advised the international oil company (IOC) to adhere strictly to the provisions of the Nigerian Oil and […]