Nigeria: CBN dismisses concerns over banking distress

28 November 2015, Lagos — The Central Bank of Nigeria, CBN, has dismissed concerns that some banks in the country are experiencing distress. “The attention of the Central Bank of Nigeria, CBN, has been drawn to a fictitious online publication purporting that some deposit money banks in Nigeria are ‘experiencing stress,” the Director Corporate Communication of […] More »

Africa: Orange & ENGIE to expand rural electricity grid

*Optimise power supply to telecoms infrastructure  28 November 2015, Sweetcrude/APO, Paris, France –– Stéphane Richard, CEO of Orange (www.Orange.com), and Isabelle Kocher, Deputy CEO and Chief Operating Officer of ENGIE (www.ENGIE.com), today signed a partnership covering two projects – the expansion of the rural electricity grid and ENGIE’s optimisation of energy supplied to Orange’s telecoms […] More »

Nigeria: Senate gives Buhari two weeks to end fuel scarcity

Oscarline Onwuemenyi 28 November 2015, Sweetcrude, Abuja – Worried by the lingering fuel scarcity across the country, the senate has given the Minister of Petroleum Resources, President Muhammadu Buhari, two weeks to end the problems causing the scarcity. Chairman, Senate Committee on Petroleum (Downstream), Senator Uche Lilian Ekwunife (PDP Anambra Central), gave the ultimatum during […] More »

Nigerian Navy parades vessel loaded with 4,000mt stolen crude

Oscarline Onwuemenyi, with Agency report 28 November 2015, Sweetcrude, Abuja – The Nigerian Navy in Delta on Friday paraded MT Camilee Vessel laden with about 4,000 metric tons of​ suspected ​stolen crude oil. Eleven crew members apprehended aboard the vessel were also paraded at the Nigeria Navy Ship, Warri naval base, Delta State. Parading the […] More »

Sweden, Switzerland pledge support for power devt in Nigeria

28 November 2015, Abuja – Sweden and Switzerland have pledged their support for the development of Nigeria’s power and infrastructure sectors. The Ambassador of Switzerland to Nigeria, Mr Eric Mayoraz, and his Swedish counterpart, Mr Svante Kilander, pledged the support when they accompanied the Managing Director of ABB in Nigeria, Mr Mohammed Hosseiny, on a […] More »

Thieves steal $250m of Nigerian oil from one pipeline

27 November 2015, Abuja -Thieves have stolen nearly $250m (£165m) of oil from a single pipeline this year, Nigeria’s state oil company says. The Nigerian National Petroleum Corporation (NNPC) said half a billion litres were taken from the pipeline that runs north-east from Lagos. Long queues have formed at petrol stations across Nigeria in recent […] More »

Nigeria to explore its 600trn gas potential for sustainable development – Buhari

27 November 2015, Abuja – President Muhammadu Buhari has said that Nigeria was taking appropriate steps to turn its abundant gas resources into veritable catalyst for development as the nation’s gas potential might be in excess of 600 trillion cubic feet. The President said this at the 3rd summit of Gas Exporting Countries Forum (GECF) […] More »