The Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), Mohammad Barkindo (photo), has said that Nigeria does not intend to go beyond its oil production target of 1.8 million barrels per day, until the end of March 2018. The Secretary-General disclosed this at the opening of the fourth Joint OPEC and non-OPEC Ministerial Monitoring Committee in St. Petersburg,...

The Nigerian Meteorological Agency (NiMet) has said that flood across the country this year, may affect cocoa crop and boost rice output. In its weather outlook, NiMet predicted that no less than 32 out of the country’s 36 states, may likely experience flooding during the wet season, due to irregular rainfall. “When you have serious cases of flooding, the tree crops will be forced to...

In Senegal, Prime Minister Mahammed Boun Abdallah Dionne, announced that President Macky Sall (photo) will give today 366 land titles to residents of Tobago. Evicted from their homes in mid-2015, during works at the Léopold Sédar Senghor airport of Dakar, the beneficiaries filed actin to have their rights restored. “The 366 victims will today receive, as a symbolic gesture, at the...

Jack Ma (photo), founder and executive chairman of e-commerce platform Alibaba, rival of US’ Amazon, announced on July 23, he is launching a $10 million fund for young African entrepreneurs. “I want that fund supporting African online businesses,” said the billionaire who is also advisor to the United Nations Conference on Trade and Development (UNCTAD) for Youth Entrepreneurship and...

Britain has expressed readiness to invest in Nigerian oil and gas sector, including pipeline infrastructure and electricity generation, according to British High Commissioner, Paul Arkwright (photo). The diplomat disclosed this when the Group General Manager, Group Public Affairs of the Nigerian National Petroleum Corporation (NNPC), Ndu Ughamadu, paid a courtesy visit to the Chancery of British...

West-Africa focused Eland Oil and Gas in its operational update for the six months ended 30 June 2017, announced that production from one of its Nigerian licences has reached the highest level it attained 40 years ago. According to the company, OML 40 had been producing at an average rate of over 11,400 barrels of oil per day (bopd) gross, since pipeline exports to the Forcados terminal resumed...

Bua Group, Virgin Mobile and Vodacom are among companies who have expressed interest in acquiring Etisalat Nigeria (now officially 9mobile), according to a recent report by This Day. According to the report, the three companies were already making plans to submit their memoranda of interest and technical presentations to a consortium of banks. 9Mobile has been a victim of the dollar shortages...

On July 20, Othman Benjelloun, President of the Groupe BMCE Bank of Africa, signed a contract for the construction of Africa’s tallest tower, with Chinese group China Railway Construction Corporation International (CRCCI). The Rabat Bouregreg tower will indeed be built in Salé, boasting of an astounding height of 250m and 55 floors. It will, among others, include a mall, a business centre,...

Africa’s biggest military base can hold up to 20,000 soldiers. The infrastructure was inaugurated last Saturday by Egypt’s President Abdel Fattah al-Sissi at El-Hammam, near Alexandria. The base which has numerous tanks, helicopters, anti-aerial defense systems and other war equipment, is named after the country’s first President, Mohamed Neguib. The leader was at the top of Egypt from...

The Guinean government will compensate the residents of the Demoudoula classified forest whose homes were destroyed during the land recovering operation of last July 13th. However, only those holding a valid title to prove their ownership will receive the payment. “The minister of Urbanism and Land Development calls all citizens holding a land title and whose homes have been affected during...