Shell Nigeria Exploration and Production Company Limited (SNEPCo) on Monday announced the shutting down of Nigeria’s Bonga oil field for maintenance. This aimed at ensuring a continuous optimal operation at the field. “The exercise will help ensure sustained production and reduced unscheduled production deferments. This is the fourth turnaround maintenance since Bonga began production,”...

The Ivorian Human Rights Association (RAIDH) last Friday in Séguéla, North-West of Cote d’Ivoire, organized a workshop to explain the 23 Dec. 1998 Act on Rural Land, reports Agence Ivoirienne de Presse. Targeting community leaders of Séguéla, the workshop provided information regarding the bases of land ownership rule which now states that only Ivorian nationals are to own a land. The rule...

About 23% of Morocco’s GDP in 2016 came from cannabis production. This was revealed by the US State department in a report on global drugs traffic released on March 3rd. “Over the 2015-2016 season, Morocco produced nearly 700 metric tons of cannabis, which represent 23% of its GDP valued at $100 billion,” the report states. The US State department also said Morocco which is the...

Eta-Zuma Group West Africa Limited plans to invest $6bn to boost electricity generation in Nigeria, announced Chairman of the company, Innocent Ezuma, during a press briefing in Abuja on Friday. According to Ezuma, the company plans to boost power supply in the country by 1, 600 MW of which 1,200MW would be generated from coal, which is already being mined by the company in Kogi State....

The Federal Government has revealed plans to waive the usual initial payment of 10% equity on housing loans below N5million ($16,000) administered by the Federal Mortgage Bank of Nigeria (FMBN). The Minister of State for Power, Works and Housing, Mustapha Baba Shehuri, who disclosed this during the commissioning of a 125-unit housing estate in Enugu, said the decision to scrap the 10% is part of...

The Senior Special Assistant to the President on Foreign Affairs and Diaspora, Abike Dabiri-Erewa, has advised Nigerians against travelling to the United States, unless for an urgent purpose. “Nigerians without any urgent need should consider rescheduling their trip until there is clarity on the new immigration policy,” she said in a statement. According to her, the warning is as a...

The Acting President of Nigeria, Yemi Osinbajo (photo), has disclosed that a sum of N1billion ($3.2million) has been set aside in the 2017 budget for the development of the Ibaka deep-sea Port Project in Akwa Ibom State. According to him, the Federal Government is extremely committed to the realization of the project as it is significant to the growth of Nigeria and the economy. “Indeed, as...

The United Nations has revealed that the Islamist Militant Group, Boko Haram since its resurgence in 2009 has caused $9 billion worth of damage in Nigeria’s northeast by destroying homes, schools, bridges and roads. The president of the UN Security Council, Matthew Rycroft (photo), who disclosed this during a visit to Maiduguri, said Borno state alone recorded losses valued at $6.2...

As part of efforts to bridge the skill gap and solve the challenges of inadequate financial backing in Nigeria, the New Partnership for Africa’s Development (NEPAD) has revealed plans to invest €35 million in five African countries including Nigeria. The other four countries are Tunisia, Algeria, Cameroon and South Africa. Speaking at a two-day stakeholders’ meeting in Abuja,...

The Debt Management Office (DMO) has listed the Federal Government’s $1 billion Eurobond on the Nigerian Stock Exchange (NSE). This was disclosed by Abraham Nwankwo, the Director-General of DMO, during the bond listing at the NSE on Thursday in Lagos. According to him, the Eurobond was the first ever of the kind to be listed on NSE. It was raised under realistic terms to fund capital...