The Federal Government of Nigeria plans to provide renewable power supply to rural communities not connected to the national grid. In this framework, the Rural Electrification Agency (REA) is developing an energy database which would reveal community locations and energy demand profiles. Acting President, Yemi Osinbajo (photo), who made this known last week, said: “We are doing 20,000 more...

Lagos-based Chellarams Plc, has signed a joint venture agreement with German-based dairy company, DMK Group, to establish a new company that will manage production, marketing, sales and distribution of dairy products across Nigeria. According to the company, the venture is the next phase in the existing partnership between the two companies established 25 years ago. “The Nigerian consumers...

Baba Akhib Haïdara, Ombudsman of the Republic of Mali, believes the answer to land issues faced by the country revolves around three points, which are: cadaster, a more appropriate land reform and a fairer compensation policy in case of expropriation. The official said this on June 28, during a press conference to present its 2016 report. “In regards to state domain management and land...

In Togo, the Konrad Adenauer foundation wishes for women to be considered more in the framework of ongoing land reform. In this regard, the foundation recently held a sensitization meeting with local administrative and traditional authorities in Tabligbo, in the South eastern part of the country. The meeting falls in line with its “One World, No Hunger” programme. “We are working to...

BASIC LEAD, the organizers of the region-centric DISCOP markets, today unveiled plans to encourage more business with and between the rapidly growing countries under DISCOP’s watch and representing 75% of the world’s population. Two new DISCOP markets will be added by the end of 2019: one in Zanzibar (2018), centered on East Africa’s fast-rising independent film, television and digital...

Nigeria is to shift its focus to natural gas production as its oil reserve has been estimated to be exhausted in the next 25 to 30 years. These were the words of the Minister of oil, Emmanuel Kachikwu (photo), who represented President Muhammadu Buhari, at a labour conference in Abuja on Wednesday. The country’s gas reserves have been estimated to sustain the country’s fuel revenues for 60...

Nigeria needs no less than $10 billion every year over two to four years to achieve its Gas Master Plan, according to Dada Thomas, the President of the Nigerian Gas Association (NGA). Such investment would create job opportunities for construction companies, pipeline operators, amongst others and an annual income of about $0.75 billion, he said. Dada Thomas noted that the domestic...

Lekoil Limited has on Monday announced that about 250,000 barrels of crude oil have been lifted from the Otakikpo Marginal field in Nigeria by Shell Western Supply and Trading Limited, a subsidiary of Royal Dutch Shell. Under the existing crude sales agreement between the two firms, it is expected that Shell will forward payment for the crude within the next month. The Otakikpo field continues...

Three weeks after its issue, Nigeria’s first Diaspora Bond today started trading on the London Stock Exchange (LSE). The five-year bond with a coupon of 5.625%, is the first from an African country that is registered with both the UK Listing Authority (UKLA) and the U.S. Securities and Exchange Commission, and targeted at retail investors, according to a statement from LSE. “We are...

Manufacturing companies and the poultry industry in Nigeria have been hard hit by an 83% increase in the price of maize as a result of persistent armyworm infestation. A metric ton of maize is now being sold at N183, 130 in Lagos compared to the N100, 000 per ton in June 2016, according to Novus Agro, an agro commodity price tracker. Findings by BusinessDay have shown that the price of dry...