Thursday 21 September 2017
(APA 09/04/17)
The Nigerian National Petroleum Corporation (NNPC) says that its sustained strategic intervention in the downstream sector of the petroleum industry has resulted in the drop of ex-depot price of petrol from N138 to N133.28 per litre in most of its depots, indicating a gain of N4.72 for the marketers. The Daily Graphic states that the Ghana Port's programme to avoid paper transactions in goods clearance and other port services would be piloted in full on Monday. The newspaper says the system although introduced last Friday was not fully tested because it was a public holiday and added that during the weekend, two requests were received and attended to on Saturday. The online system would be accessed by clearing agents and...
(Xinhuanet 09/04/17)
Eight people have been confirmed dead following an outbreak of cholera in a camp for internally displaced persons (IDPs) in Nigeria's northeastern city of Maiduguri, a health official said on Sunday. Haruna Mshelia, commissioner for health in the northern Borno State, said the government had set up a 30-bed clinic at the camp to enhance treatment and control of the disease. The outbreak in Muna Garage area of Maiduguri, the capital city of Borno State, was aggravated by incessant flooding due to heavy rainfall in the past three weeks, according to the Medecins Sans Frontieres (MSF), an international medical humanitarian organization. A total of 200 patients have been admitted from the start of the outbreak, with 100 discharges, said Ann...
(Premium Times 09/04/17)
The Lagos State Police Command has launched investigation into an alleged case of extortion, unlawful detention and sexual harassment against the Officer in Charge (OC), Anti-Kidnapping Squad, Lagos State Police Command, identified simply as Mr. Adejobi. Mr. Adejobi is accused of colluding with other officers under him to wrongfully detain one Ms. Blessing on August 29. He also allegedly demanded N70,000 from relatives of the woman as bail charges. PREMIUM TIMES gathered that Ms. Blessing, a single mother of two, was arrested and detained on August 29 on the allegation that she stole the $50,000 belonging to her colleague, one Abiola Osagie. Mrs. Osagie reportedly claimed that she left the $50,000 in a bag in her office and travelled for...
(Premium Times 09/04/17)
The sustained strategic intervention of the Nigerian National Petroleum Corporation, NNPC, in the efficient supply and distribution petroleum products has led to significant fall in the prices of Premium Motor Spirit (PMS), also known as petrol, and Liquefied Petroleum Gas (LPG), also known as cooking gas, nationwide. A national survey by Oil and Gas Forum, NNPC’s weekly TV programme, indicated that in the last few weeks, the price of petrol has fallen steadily from N145 per litre to between N142 and N143 per litre in some stations across the country. The study showed that NNPC Mega and affiliate stations across the country are selling the product for N143 per litre, while the pump price ranges from between N142 and N145...
(Premium Times 09/04/17)
The federal government has declared that two firms allegedly involved in illegal mining may have taken out minerals worth over N100 billion. Yinka Oyebode, an aide to the Minister of Mines and Steel Development, Kayode Fayemi, quoted the minister as saying this in a recent meeting with staff of his ministry. PREMIUM TIMES reported how eight Chinese nationals and about a dozen Nigerians were arrested in Plateau for allegedly working for the firms involved the mining. The suspects were later released while the firm involved denied that its mining activities were illegal. In a statement sent to PREMIUM TIMES on Sunday, Mr. Oyebode, however, said the suspect’s activities was of concern to the federal government. Read Mr. Oyebode’s full statement...
(APA 09/04/17)
The kidnap of a Catholic priest, drop in the price of petrol and the plan to recover assets of former petroleum minister in Dubai dominate the headlines of Nigerian newspapers on Monday. The Sun newspaper said the Imo State Police Command has confirmed the kidnap and subsequent murder of a Catholic priest, Rev. Fr. Cyriacus Onunkwo, who was allegedly abducted from his vehicle in Orlu town in Orlu Local Government Area of Imo State on Friday. It said that an attack that would have marred the Sallah celebration in Kano State was foiled, with the arrest of top-ranking Boko Haram suspects. The Daily Trust reported that the Nigerian National Petroleum Corporation (NNPC) confirmed that the ex-depot price of petrol has...
(Bloomberg 09/04/17)
The worst may be over for Africa’s two largest economies as they likely emerged from a slump in the second quarter. Official data on Tuesday will probably show South Africa’s economy expanded in the three months through June, ending its second recession in less than a decade. Nigeria’s gross domestic product probably grew from a year earlier, and came out of its worst slump in a quarter of a century. South Africa and Nigeria together account for almost half of sub-Saharan Africa’s GDP and their recoveries may boost trade and production across the region. The reasons differ: while Nigeria, the continent’s biggest oil producer, is benefiting from a rebound in crude output, stronger retail sales may help drive growth in...
(Reuters (Eng) 09/02/17)
Suspected Boko Haram militants killed 18 people in northeast Nigeria on Friday, according to local witnesses and officials, the latest in an escalating number of lethal attacks in the region. The knife-wielding attackers, moving under cover of night, targeted people in the town of Banki, 80 miles (130 km) southeast of the city of Maiduguri in Borno state, the epicenter of the eight-year conflict with Boko Haram, said a community leader and a local member of a vigilante group. The attack on the town, which sits on the border with Cameroon, is the latest in a string of deadly Boko Haram raids and bombings that have undermined the Nigerian military’s statements that the insurgency is all but defeated. The frequency...
(Agence Ecofin 09/02/17)
Britain has reduced the amount of money given to Nigeria in humanitarian aid claiming that the government of Africa’s most populous country must step up and do more to stop attacks by Boko Haram. This is coming after an official visit by Foreign Secretary, Boris Johnson, and International Development Secretary, Priti Patel, to the West African country. The British government on Tuesday announced plans to grant a total of £200million in aid funding to Nigeria for four years (£50 million per year thus) starting from 2018 to 2022. On a yearly basis, the new commitment corresponds to half of the £100 million humanitarian support from the UK in 2017. Around £70million was provided in 2016. The emergency aid money is...
(AFP (eng) 09/02/17)
Nigeria hammered African champions Cameroon Friday to virtually seal a 2018 World Cup place, but Ghana drew and South Africa lost to suffer serious qualifying setbacks. Current and former Chelsea midfielders Victor Moses and John Obi Mikel scored one goal and created another as Nigeria overwhelmed Cameroon 4-0 in southeast city Uyo. A late strike from Thomas Partey of Atletico Madrid salvaged a 1-1 home draw for lacklustre Ghana against Congo Brazzaville in Kumasi. Russia-based Nuno Rocha broke the hearts of confident South Africa by scoring twice as Cape Verde came from behind to triumph 2-1 in Praia. The return of Moses and Mikel to the "Super Eagles" line-up coincided with the best Nigerian performance for years as they crushed...
(AFP (eng) 08/31/17)
Britain will give Nigeria aid worth £200 million over five years to help it cope with the brutal insurgency being waged by Boko Haram jihadists, the foreign ministry in London said Wednesday. Foreign Minister Boris Johnson visited Maiduguri, the capital of Nigeria's northeast Borno State and epicentre of the Boko Haram organisation, to meet some of those involved in the fight. The Islamist militant group has increasingly used child suicide bombers and targeted civilians in its eight-year insurgency which has left at least 20,000 dead and displaced more than 2.6 million.
(AFP (eng) 08/31/17)
Gunmen ambushed and killed four soldiers and a civilian in Nigeria's oil-rich south, local sources said Wednesday, breaking months of uneasy calm after unrest over the distribution of the country's oil revenues. Armed men ambushed the military contingent in the Ekeremor waterways area of Bayelsa State as they returned from an assignment in the Letugbene community on Monday. The gunmen, who outnumbered the soldiers, forced the servicemen to surrender, marched them to a creek, executed them and stole their weapons and military gear. A civilian boat driver with the military detachment attempted to escape but was also shot and killed by the attackers. Nigeria's oil-rich south and southeast had been ravaged by violence orchestrated by groups seeking to force the...
(AFP (eng) 08/31/17)
A feared Nigerian kidnapper known as "Evans" entered a guilty plea Wednesday to kidnap charges that his lawyers say was obtained through police intimidation. A lawyer for Chukwudubem Onwuamadike, who will face trial on October 19, said in a statement that "police told him to plead guilty, failure to which the police will kill him". The charge sheet, seen by AFP, accuses a heavily armed gang of five men and one woman of kidnapping Dunu Donatus in February, holding him for 57 days and receiving a 223,000 euros ($266,000) ransom. Officers jostled to take selfies with the defendants in chaotic scenes before Wednesday's hearing began. Evans, 36, was arrested in a major police sting in June and has since been...
(Reuters (Eng) 08/31/17)
The Pentagon has notified the U.S. Congress of the sale to Nigeria of 12 Super Tucano A-29 planes and weapons worth $593 million, which the West African country wants for its fight against the militant group Boko Haram. The Federal Register on Monday published the Aug. 2 notification from the Pentagon’s Defense Security Cooperation Agency. The sale includes thousands of bombs and rockets and was originally agreed by former President Barack Obama’s administration. The Super Tucano A-29, an agile, propeller-driven plane with reconnaissance and surveillance as well as attack capabilities, is made by Brazil’s Embraer. A second production line is in Florida, in a partnership between Embraer and privately held Sierra Nevada Corp of Sparks, Nevada. The Super Tucano costs...
(Agence Ecofin 08/31/17)
According to latest data from the National Bureau of Statistics (NBS), the total value of capital imported into Nigeria stood at $1.792 billion in the second quarter of 2017. This represents an $884.1 million increase from the figure recorded in Q1 2017. Capital Importation can be divided into three main investment types: Foreign Direct Investment (FDI), Portfolio Investment and Other Investments, each comprising various sub-categories. The report noted that the main driver of growth was Portfolio Investments, which increased by 145.7%, followed by other Investments growing by 95.02 percent, and Foreign Direct Investment (FDI), which increased by 29.8% over the previous quarter. Portfolio Investment was the largest in Q2 accounting for $770.5 million or 43.0% of the total capital. This...
(Bloomberg 08/31/17)
Nigeria said China Civil Engineering Corp. will build a $5.8 billion hydro-power station in the country’s eastern Mambila region with a capacity to generate 3,050 megawatts. China’s Export-Import Bank will provide 85 percent of the funding for the project, which is scheduled to be completed in six years, Power, Works and Housing Minister Babatunde Fashola told reporters on Wednesday in the capital, Abuja. Nigeria will contribute the remaining funds. “The scope of works are very extensive,” Fashola said. The project requires the construction of four dams and includes 700 kilometers (435 miles) of transmission lines. One of the dams will be 150 meters high, two will be 70 meters and the smallest 50 meters, he said. Nigeria is seeking to...
(Agence Ecofin 08/31/17)
Ethiopian Airlines on Wednesday said it is in talks to take over the management of Nigeria-based Arik Air. According to Ethiopian Airlines' head for international services Esayas Woldemariam, the negotiation is a sequel to request by Nigeria's aviation ministry. “We definitely are willing and able to take over the management of Arik Air.” Ethiopian Airlines is one of Africa's largest airlines. The takeover is expected to give the airline a major presence in Nigeria, Africa's most populous nation and one of the continent's top economies, according to Associated Press. It should be recalled that Nigerian government took over Arik Air, the country’s largest airline, in February after it declared heavy losses which resulted in the company being unable to pay...
(Bloomberg 08/31/17)
Start your day with what's moving markets in Asia. Sign up here to receive our newsletter. U.S. authorities are investigating China Petroleum & Chemical Corp. over allegations that the state-controlled oil producer paid Nigerian officials about $100 million worth of bribes to resolve a business dispute, according to people familiar with the probe. Investigators from the Securities and Exchange Commission and Justice Department are looking into allegations that outside lawyers acting as middlemen for the company, known as Sinopec, funneled illicit payments from its Swiss unit to the Nigerians through banks in New York and California, said the two people, who didn’t want to be named discussing an active investigation. The alleged payments were intended to resolve a $4 billion...
(Agence Ecofin 08/31/17)
The European Union (EU) is collaborating with Nigerian authorities to improve the quality of some products which have been banned for export as they fail to meet European standards. These items include beans and some fish products. According to the Head of Cooperation, EU Delegation to Nigeria & ECOWAS, Kurt Cornelis, although the products were desirable, the EU needed to protect its consumers. “We are working with the Nigerian authorities in trying to improve the quality of exports that are concerned. But we, of course, need to protect our consumers in the European market and we have our standards. Unfortunately for some Nigerian exporters, these standards have to be met. So, that means that they have to upgrade the quality...
(Agence Ecofin 08/31/17)
Africa’s richest man, Aliko Dangote, said he plans to invest between $20 billion and $50 billion in US and Europe, by 2025, mainly in renewable energies and petrochemicals. In this framework, the Nigerian tycoon is set to begin his activities on both continents in 2020. “Beginning in 2020, 60 percent of our future investments will be outside Africa, so we can have a balance. Dangote Group will consider investments in Asia and Mexico, but will focus mainly on the U.S. and Europe,” Dangote said. “I think renewables is the way to go forward, and the future. We are looking at petrochemicals but can also invest in other companies,” he added. Over the past five years, the Dangote Group rapidly diversified...

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