Ardova Plc Signs new purchase deal with Dangote Refinery
Ardova Plc, a major player in Nigeria’s downstream oil and gas industry, has signed a bulk purchase framework agreement with Dangote Refinery. Under the agreement, Ardova will offtake a full…
Nigeria to Enforce Net-Zero Compliance in Upstream Oil Sector
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has introduced the Upstream Petroleum Decarbonisation Template (UPDT) to enforce net-zero compliance within the country’s oil and gas sector. This initiative aims to…
Top 10 African Countries in the Global Energy Transition Index (ETI)
With abundant natural resources and a growing population, Africa is at a crossroads, balancing traditional energy sources with a global shift toward sustainability. The Energy Transition Index (ETI) measures countries'…
Nigeria targets stable electricity with new KPIs for power companies
The Nigerian government is looking to achieve a more stable and efficient power supply in 2025 with the introduction of new Key Performance Indicators (KPIs) for power distribution companies.The National…
Nigeria to boost livestock sector with new $1.2 billion Saudi Arabia investment
Nigeria's Federal Government has announced a $1.2 billion investment by Saudi Arabia’s SALIC International Investment Company into Nigeria's agricultural sector. This deal involves the acquisition of a 35.43% stake in…
Inflation, currency woes top Africa’s 2024 fiscal year
Inflation pressures hit different countries in 2024 with their respective central banks adopting various monetary policies tailored to country-specific fiscal concerns.African nations experiencing moderate inflation, such as Kenya, South Africa,…
Libya signs deal to formalise its Afreximbank membership status
Libya has officially become the 53rd member state of the African Export-Import Bank (Afreximbank), a significant step toward enhancing intra-African trade and economic integration. The membership was formalized when Libya's…
NNPCL confirms commencement of operations at Warri Refinery
The Nigeria National Petroleum Company Limited, NNPCL, has confirmed the commencement of operations at the Warri Refinery and Petro Chemical Company. The Refinery, with a 125,000 barrel per day capacity,…
Top 7 Naira stocks that delivered massive gains in 2024
On the Nigerian Stock Exchange (NGX), several Naira stocks outperformed expectations, enriching investors despite a global preference for dollar-denominated assets. The standout stock, Juli Plc, achieved an extraordinary 1646% growth,…
World Bank releases $1.5 billion loan to Nigeria
The World Bank has released a $1.5 billion loan to Nigeria following the removal of subsidy on petrol and introduction of the tax reform bills. The bank said it had…
