Commodity prices in Nigeria and other parts of the world are set to tumble to a five-year low next year amid an oil glut that is so large that it is likely to limit the price effects even of a wider conflict in the Middle East, according to the World Bank’s latest Commodity Markets Outlook….
British Foreign Secretary David Lammy, expected in Nigeria today (November 3rd) has said his mission is to foster economic growth between the two countries. His visit to Nigeria will mark his first trip to the African continent as Foreign Secretary. Committing to a fresh approach to Africa that works productively from Morocco to Madagascar, the…
Oil marketers have accused Dangote Refinery of fixing a product price regime that is the highest when compared with other sources. Acting under the aegis of Independent Petroleum Marketers Association of Nigeria (IPMAN), they said it is more expensive to buy premium motor spirit (PMS) or petrol from the Dangote Petroleum Refinery than from other…
RFA Lyme Bay, a UK Royal Fleet Auxiliary (RFA) vessel, has arrived in Premiere Port (Apapa Quays) Lagos, Nigeria, as part of a Defence Engagement programme across West African partner nations. The visit is part of the maritime co-operation agreed under the UK-Nigeria Security and Defence Partnership in February 2024. While in Nigeria, Lyme Bay,…
State-run oil firm, the Nigerian National Petroleum Corporation Ltd (NNPCL) has said the search for the ill-fated helicopter it hired to convey its officials was still ongoing. It said, aside the three bodies initially recovered, no other bodies had been found. ” The NNPC Ltd. wishes to announce that beyond the three bodies found in…
Internet service provider, Starlink has announced the reversal of its recent service fee increase in Nigeria. This decision comes as a welcome relief to Nigerians who have been eagerly awaiting affordable internet solutions. The world’s leading provider of satellite launch services, in a statement said: “Last month, we increased the monthly service price for Starlink…
No fewer than three corpses have been recovered in a helicopter crash engaged by Nigeria’s state-run oil company, Nigerian National Petroleum Corporation Limited (NNPCL) while efforts are in top gears to recover rescue five others involved in the mishap. A statement endorsed by Chief Corporate Communications Officer at NNPC Ltd, the Olufemi Soneye, explained that…
Founder and Chair, Mo Ibrahim Foundation, Mo Ibrahim, has identified escalating conflicts and deepening mistrust in democratic institutions and values as threats to African progress in economic and social development, as well as the advancements which the continent is yet to achieve. He made the comments in his reaction to the release of 2024 Ibrahim…
AFRICA’s richest oil giant, Nigeria, has suffered some 105 power grid collapses over the last 10 years with no solution to end the recurring decimal in sight, according to industry body, the Lagos Chamber of Commerce and Industry (LCCI). After a series of reforms in the power sector that led to the sale of the…
