The Shell Petroleum Development Company (SPDC) has lifted the force majeure on export of Bonny Light eleven months after it was declared. The force majeure was lifted after repairs were completed on the Nembe Creek Trunk Line (NCTL) by Aiteo E&P Company Limited. The 100km NCTL which has a capacity of 600, 000bpd feeds the Bonny export terminal in Rivers State. “The force majeure on Bonny Light...

The Nigerian National Petroleum Corporation (NNPC) says it has entered into a tripartite agreement with First Exploration and Petroleum Development Company and Schlumberger to develop the Anyala and Madu fields in OMLs 83 and 85. Under the agreement, international oil service company, Schlumberger would provide the $700 million investment needed to develop the fields. Nigeria, Africa’s...

Mauritius’ economy should grow slightly to 3.9% this year, against 3.8% in 2016. The increase will be driven by construction sector mainly, but also transformation, according to official data reported by Reuters. According to the country’s statistics office, construction should record a significant growth soaring to 7% after stagnating (0%) in 2016. As for the manufacturing industry, it...

Export-Import Bank of Korea (Korea Exim Bank) and World Bank have awarded Uganda a loan worth $150 million to support a programme that aims to boost the capacities of local farmers, kfm.co.ug reported. Extending over 5 years, the initiative will help farmers get used to modern agricultural methods thus enabling them to switch from subsistence farming to commercial farming. Under the...

The Climate Investment Funds (CIF) has granted Liberia $23.25 million to develop its renewable energy sub-sector. The facility will be used to develop a 9.8 MW hydropower plant at the Gbedin falls, on the Mano River, in Nimba County. The provision of the fund falls under the Scaling-up Renewable Energy Program, a program of CIF which aims to support the growth of developing countries by...

By 2040, 50 million out of 773 million people on the job market in Africa may lose their job. This is according to a study conducted by the Tony Blair Institute based on a World Bank report on demographic dividends in Africa. “Unless action is taken, Africa is facing a shortfall of 50 million jobs by 2040. This should serve as a serious wake up call for all. This daunting figure will not only...

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...