In Nigeria, the Yobe state government has committed over N2.1billion ($6.5m) to execute capital projects across the state. Speaking after a state executive council meeting in Damaturu, the Commissioner for Home Affairs, Information and Culture, Mala Musti explained that the release of the funds was part of efforts to develop the state. Giving a breakdown of the financing, Musti said that...

In Nigeria, the Delta state government on Thursday signed a memorandum of understanding (MoU) worth $20 million with Norsworthy Limited to cultivate 3000 acres of palm oil and construct a processing plant. Speaking during the signing ceremony in Asaba, the Secretary to the State Government, Festus Agas, explained that the government is more focused on agriculture as it is the mainstay of...

Nigeria’s distributable government revenues increased to $1.43 billion in May from $1.29billion in April. This increase is accrued to higher profits from taxes paid by companies. A statement from the office of the accountant general on Thursday, revealed that the revenues could have been higher but did not due to a slight drop in the average price of crude oil from $55.38...

Julius Berger Nigeria Plc, says it has signed a partnership agreement with Petralon Energy for the acquisition and development of oil fields in Niger Delta, as part of efforts to diversify its business. According to its Managing Director, Wolfgang Goetsch, the company is also in talks with about eight investors to construct power plants. “Within Nigeria, we aim to diversify our business...

This year, Luanda, Angola’s capital, is the most expensive city worldwide for expatriates, despite the local currency, kwanza, weakening against dollar, according to Mercer’s annual Cost of living survey. The African city which held that position in 2015 beats Hong Kong which snatched it last year. In Mercey’s global ranking, after Luanda, in Africa, come Victoria (14th worldwide),...

Today, June 23, the board of the International Finance Corporation will meet to evaluate a $67 million loan which it intends to grant Nigerian lender United Bank for Africa (UBA). The 5-year loan facility will be provided to the five subsidiaries of the bank, to boost lending to small and medium enterprises. Concerned subsidiaries are those of Cameroon, Ghana, Liberia, Senegal and Cameroon....

On June 15 and 16, the US’ justice sector support programme in Cote d’Ivoire, ProJustice-USAID, organized a training session on land legislation for Ivorian lawyers. The session was themed “Land rights in Cote d’Ivoire: Accessibility and related litigations”. On the occasion, topics covered included rights to urban and rural land, costs required to acquire State domains, litigations...

In Nigeria, the Lagos state government has signed an agreement with investors to generate 3,000 megawatts of electricity over the next seven years. The agreement tagged “Lagos State Embedded Power Programme”, involves the supply of 3000MW of electricity at the cost of $3billion. This is however subject to approval by the Nigerian Electricity Regulatory Commission (NERC). According...

Loading plans for August have showed that Nigeria will export 2.02 million barrels of oil per day (bopd), the highest volume exported since March 2016. This is as the country’s oil industry is getting close to recovering fully from militant attacks which weakened production in 2016. According to the preliminary loading plans which was compiled by Reuters, 1.84 million bpd was initially...

A Nigerian High court on Wednesday ruled against a government-ordered mass eviction practice which has left over 30,000 Nigerians homeless in Lagos. Deeming the practice unconstitutional, the judge of the High Court, Adeniyi Onigbanjo, ordered the state government to halt further evictions to prevent an estimated 270,000 other residents in the state from losing their homes to...