Nigeria is losing $2.4 million of gas and electricity daily due to pipeline sabotages, the Ministry of power, works and housing warn. The ministry declared this following the Nigerian National Petroleum Corporation (NNPC)’s closure of two oil refineries on January 20, 2016, after the pipelines attacks that affected crude oil supply in the country. According to NNPC, the refineries (one...

Nigeria plans to mobilize about $5 billion of external loans, a Eurobond included, to finance its budget deficit, minister of Finances, Kemi Adeosun (picture), said on January 21. “Our total borrowing expectations are now at 1.8 trillion naira ($9.1 billion)”, the minister wrote in an article entitled Nigeria’s Economy: The Road to Recovery, which was circulated by her ministry....

Private-equity Company 54 Capital just announced it invested in the capital of the Ethiopian laboratory Addis Pharmaceutical Factory (APF). 54 Capital injected 30 million dollars to acquire a stake in this firm – leader of pharmaceutical industry –and took an option to invest another $US 12 million in its capital, the African-focused firm stated in a release it recently published....

It is public knowledge that the Africa n°1 Gabon radio station is going down the hill and also that Gabon’s government committed to rescue the pan African media. “The Gabonese government, to help the station, committed to provide it with 150 million Fcfa monthly”, news website Gaboneco stated. The news website added that the spokesperson to government who also happens to be minister of...

In Sudan, the President Omar al-Bashir (photo), has at last decided to reduce the transit fees for the conveyance of South Sudanese oil through the northern pipelines, an official revealed. The official only said that the President’s decision came after a request made by South Sudan’s foreign minister Barnaba Marial Benjamin but did not give more details concerning the issue. Sudanese...

Chevron has revealed plans to sell off 75% of its South African business unit in Cape Town. The company stated that its call for expression of interest was conforms to a three-year asset sales programme it announced in 2014. “This demonstrates Chevron's continuing focus on balancing our global portfolio with our long-term business priorities, and it is aligned with our previously...

CGG on Friday announced that later this month, it will commence a four-month multi-client airborne gravity and magnetic survey, offshore South Africa. The company stated that the program which is to cover two blocks of about 78,000 line km has been approved by the Petroleum Agency of South Africa (PASA), as well as received prefunding from the oil industry. Survey data and interpretation...

After Gafsa, Gabes and Sfax, the Sidi Bouzid governorate is also about to see its phosphate industry crippled by social mobilizations. On Wednesday, militants who demanded jobs and development for their delegations (Mazzouna, Meknassi, Menzel, Bouzayane) blocked the rail traffic between Sfax and Tozeur in the Founi region. These types of manifestations tend to become the norm in these regions as...

“So many projects fail because, when we talk about solar parks in Africa, most of the time people think this is just about finding an empty plot of land and implementing a project. Little thought is given to how projects will be managed once built.” This is how Eugene Ikejemba summarized the study he conducted in collaboration with Peter Schuur on the lack of efficiency of solar projects in...

The government of Ghana is currently in negotiation with actors of the private sector to finalize a strategic plan for the development of the cashew industry. Extending over 10 years, this plan will boost the country’s output to 150,000 tons from 50,000 tons, Ghanaweb reveals. Upon the implementation of this plan, the processing sector for the nut which has a total capacity of 65,000 tons...