Black marketers hijack ‘Jonathan kerosene’ in Bayelsa

05 January 2015, Lagos – Black market operators have hijacked President Goodluck Jonathan’s ‘political kerosene’ in his home state, Bayelsa. The kerosene, expected to be sold for N50 per litre, has skyrocketed to N100 per litre due to the activities of black marketers that abound at most designated mega filling stations in Yenagoa metropolis. For […] More »

Commerzbank opens representative office in Côte d’Ivoire

*Bank thus increases number of locations in Africa to 7 05 February 2015, Frankfurt - Commerzbank AG is opening a representative office in Abidjan, the economic metropolis of Ivory Coast, thus expanding its network on the up-and-coming African continent. This means that Commerzbank, which has been operating in Africa since 1952 and maintains business relations […] More »

Oil price slump: Nigeria slashes 2015 bugdet

05 February 2015, Abuja - The Federal Government has more than halved capital expenditure to less than 10 per cent of the 2015 budget spending, axing badly needed infrastructure investment due to the collapse in the price of oil, the country’s main source of revenue, according to the full budget submitted to the national Assembly. […] More »

AfDB Seeks consultant for Kenya-Tanzania power project

05 February 2015, Nairobi - The African Development Bank is seeking a consultant to supervise and manage an electricity interconnection project straddling Kenya and Tanzania. The AfDB and Japan International Co-operation Agency will co-finance the two-year project through loans to the two governments. AfBD did not disclose the project cost in the notice published Monday. […] More »

NERC assures of discipline, corporate governance in electricity sector

*As Transition Electricity Market finally kicks into gear Oscarline Onwuemenyi 05 February 2015, Sweetcrude, Abuja - The Nigerian electricity supply industry has attained the much-awaited transitional stage electricity market, whereby wholesale buying and selling of power are based on contractual and regulatory rules. According to the Nigerian Electricity Regulatory Commission, NERC, the contract-based power market […] More »

Africa: Energy security planning hampered by variable indices

05 February 2015 - Policymakers are struggling to determine the energy security of developing countries because of a lack of consistency in energy indices, according to a study from India. The paper by the Indira Gandhi Institute of Development Research (IGIDR) in Mumbai, shows that the energy security rankings of different countries vary wildly from […] More »

Nigeria loses 60,000b/d to pipeline vandalism – NNPC

*Says increase in activities of saboteurs shocking Oscarline Onwuemenyi 05 February 2015, Sweetcrude, Abuja - The Nigerian National Petroleum Corporation, NNPC, on Wednesday deplored the recent increase in attacks on crude oil and gas pipelines, saying it was adversely affecting the nation’s economy. This was contained in a statement in Abuja by the Group General […] More »