Business

Shell Nigeria Exploration and Production Company (SNEPCo) delivered a total of 763 million barrels of oil from the Bonga field between first production in 2005 and 2017, while at the same expanding the field with further drilling of wells in Bonga Phases 2 and 3 and through a subsea tie-back that unlocked the nearby Bonga North West field in August ...

The potential for the African Continental Free Trade Area (AfCFTA) to become a powerful tool for driving industrialisation, economic diversification and development has been highlighted at the start of the UN Economic Commission for Africa’s (ECA) Conference of Ministers in Addis Ababa (Ethiopia). The four-day event, holding from May 11 to 15, aims to advance the ambitious initiative to form ...

Some 290 Nigerian contractors have received loans worth more than N472 billion under the Shell Contractor Support Fund, which was set up by Shell companies in Nigeria to help vendors and suppliers in the oil and gas industry secure funds at reduced interest rates, relaxed collateral requirements and quicker processing time. Also, Shell Companies in Nigeria awarded contracts worth over ...

To help unlock economic growth, the African Development Bank (afDB) is coordinating the implementation of an integrated development strategy for Portuguese-speaking countries in Africa. In preparation for the rollout of this initiative, the bank and the Government of Portugal have signed an agreement to provide language training to African Development Bank staff interested in learning Portuguese, as well as professional ...

The Realnews Magazine and Publications Limited, a Nigerian-based news publication outfit, has created an Android and Windows 10 Mobile Apps for Realnews magazine, its online publication. The Apps can be downloaded via links below for national, regional and international news and breaking stories. The Android link is: https://play.google.com/store/apps/details?id=com.realnews.magazine&hl=en The Windows link is: https://www.microsoft.com/en-us/store/p/realnews-magazine/9p9sgk05vx35 Through the Apps, Realnews will be disseminating well investigated stories on national and international issues ...

Donors to the Fund for African Private Sector Assistance (FAPA) – consisting of the African Development Bank (AfDB), the Government of Japan and the Government of Austria – have approved three catalytic projects totalling some $2,480,000 to stimulate the growth of Africa’s small and medium enterprises (SMEs). These grants will help strengthen the participation of Africa’s SMEs in financial markets and the ...

To compete at the accelerated pace of technological innovations and the 4th Industrial Revolution, Africa has to put in more money into training its people and equipping them with the skills they need for the jobs of the future, Akinwumi Adesina, the President of the African Development Bank (AfDB), has said. He also called on African countries to rethink the ...

The African Development Bank (AfDB) has expanded its flagship publication, the African Economic Outlook, with five regional reports. The regional economic studies were released in Tunis (North Africa), Abidjan (West and Central Africa), Nairobi (Eastern Africa) and Pretoria (Southern Africa). “By offering regional approaches for the first time, we want to leverage the Bank’s expertise and give more depth of analysis ...

The Nigeria Extractive Industries Transparency Initiative (NEITI) has welcomed steps by both chambers of the National Assembly to pass the Petroleum Industry Governance Bill (PIGB). The decision of the Senate and the House of Representatives to consider the bill as priority resulting in its eventual passage is bold, courageous and progressive, says NEITI, given the challenges the bill has passed ...

The Chairman, Senate Committee on Federal Character and Inter-Governmental Affairs, Senator Tijjani Yahaya Kaura, says intervention of the Nigeria Extractive Industries Transparency Initiative (NEITI) in the management of the nation’s extractive sector has saved the sector from imminent collapse. Senator Kaura stated this recently in Abuja when NEITI appeared before the Committee to defend its 2018 budget proposal. Senator Kaura ...