Tuesday 24 April 2018
( 02/26/13)
Nigeria will earn less for its oil and struggle to replace reserves unless it can end years of industry stagnation, at a time its biggest customer is becoming self-sufficient and African rivals are boosting supplies. A domestic energy boom in the United States has already sharply cut demand for Nigerian oil, while legal uncertainty, political wrangling, corruption and insecurity plague an oil industry which is still Africa's biggest. In addition, rivals on the continent - both East and West - are fast catching up, and hungry for returns to boost their smaller economies they are tempting foreign oil and gas companies with better terms and fewer bottlenecks than Nigeria. "Nigeria has multiple problems in its oil game - it has...
( 02/26/13)
Fifteen Russian sailors charged with illegally bringing weapons into Nigeria last year were granted bail on Monday and released until a hearing in early April, a Lagos court ruled. Nigerian authorities intercepted a ship and arrested its Russian crew on October 23 after they found several guns and around 8,500 rounds of ammunition aboard. The Russian sailors have pleaded not guilty and the Moran Security Group, the Russian company that owns the confiscated vessel, has said the ship had permission to carry arms, calling the accusations "groundless". "I'm glad that everybody - the court, the prosecution - they saw the need that the accused persons be granted bail. They've been in detention for months," defense lawyer Chukwuwike Okafor told Reuters...
( 02/26/13)
Reuters) - France will not negotiate with gunmen claiming to be from Nigerian Islamist group Boko Haram who have taken a French family of seven hostage, Defence Minister Jean-Yves Le Drian said on Tuesday. The three adults and four children were seized in Cameroon's far north near the Nigerian border last week. In a video posted online on Monday, the gunmen threatened to kill them unless authorities in Nigeria and Cameroon released Muslim militants held there. "We do not negotiate on that kind of basis, with these kind of groups," Le Drian told RTL radio. "We will use all (other) possible means to ensure that these and other (French) hostages are freed." "We do not play this bidding game because...
( 02/11/13)
Nigeria clinched its first continental title in nearly two decades and man-of-the-match Moses' performance helped ensure there was no repeat of Zambia's underdog victory over Drogba's favored Ivory Coast 12 months ago.

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