The Federal Government announced that it will inject N3 trillion into the Bank of Agriculture (BoA) in a bid to diversify the economy. The funds will be put at the disposal of farmers at affordable rates. The information was disclosed by the Minister of State for Agriculture, Heineken Lokpobiri, in Ogun State. According to the official, the government’s decision comes as commercial banks in...

The World Bank will provide Benin a $500 million facility to support its government’s action plan. This was disclosed on April 7th by the institution’s vice-president, Makhtar Diop, while he was visiting in Cotonou. “This is new record in regards to support facilities from the World Bank to Benin. It was possible only through the convergence of the visions of the international lender...

In Nigeria, Fidelity Bank has announced in a statement published on April 9 that its gross earnings amounted to N152 billion for the financial year ended on Dec. 31, 2016. This represents a 3.5% increase compared to N146 billion recorded by the lender over the same period the year before. In a similar manner, the bank’s interest income rose by 1.7% to N61.9 billion from N60.9 billion while...

After close to a year of inactivity due to vandalism on a major pipeline, the Mosimi oil depot in Ogun State is back online, the Nigerian National Petroleum Corporation (NNPC) revealed on Monday. According to NNPC’s group managing director, Maikanti Baru who supervised the re-commencement of operations at the depot, it is a major milestone in the state company’s objective to boost supply and...

U.S. President Trump (photo)’s administration has announced that the sale of warplanes to Nigeria to combat Boko Haram will move forward, US officials revealed requiring anonymity. This, in spite of concerns related to abuses by the African country’s security forces. Regarding the deal, the US congress should receive a formal notification in few weeks. It should see Nigeria acquire (as it...

In the Diass community which is situated 40km South-West of Dakar in Senegal, a group of youth gathered under the Patriotic Movement for Development (MPD) denounced the “pronounced land speculation” affecting the region. The group calls unto the President, Macky Sall, according to the Senegal Press Agency. “We denounce the unfairness which our people are suffering, especially in regards to...

 “Madagascar Oil regrets not being able to take part in Jirama’s recent call to tenders for fuel supply”. That is how the Malgasy oil and gas company announced that it renounced taking part to the call to offers launched by the power company for heavy fuel supply to its thermal plants. Last March 1st, Madagascar Oil had announced in newspapers l’Express Madagascar it intended to bid...

Addressing students at the Wits University last Wednesday, the former president of the African Union Commission, Nkosazana Dlamini-Zuma, said the African National Congress (ANC) should be ‘clever’ in convincing the South African parliament to amend the constitution to allow expropriation of land without compensation as failure to implement the law would be a real slap in the face of the...

In 2016, investments in renewable energy, hydroelectricity excluded, decreased by 23% compared to 2015 while installed capacities increased 9%. This was revealed in a report edited by the United Nations and entitled “Global Trends in Renewable Energy Investment”. Indeed, production from solar, wind and biomass power plants installed last year stood at 138 GW against 127.5 GW in 2015; thus...

Algeria’s Prime Minister, Abdelmalek Sellal, announced on April 6 that the projet for the construction of a car-manufacturing plant led by French firm PSA Peugeot Citroën in Algeria will we concretized before the end of 2017. The project has been halted since October 2015. “Regarding the Peugeot PSA project, I confirm that it will be effectively developed this year,” said Sellal at a...