Tag: Nigeria
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TotalEnergies and Amni to Invest Over $1bn in Ima Gas
TotalEnergies is intensifying its investments in Nigeria’s energy sector with a focus on expanding its presence in the gas industry. The French energy giant, in collaboration with Amni International, is set to invest over $1 billion in the development of the Ima gas field. This substantial investment underscores TotalEnergies’ commitment to enhancing its gas production…
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French TotalEnergies reportedly exits Africa with sale of two oil fields to Nigerian company
TotalEnergies announced the sale of two oil fields in Nigeria, Africa’s leading oil exporter. The Olo and Olo West blocks were sold to local firm Aradel Holdings for $19.5 million, according to the media report. The company has been reducing its investments in Africa, optimizing its oil and gas portfolio, and cutting management. In July,…
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Nigeria: Police Arrest Notorious Pirate, Delivering Significant Blow To Internet Piracy
In a significant victory against internet piracy, the Intelligence Response Team (IRT) of the Force Intelligence Bureau has successfully apprehended the operator behind the notorious pirate domain www.score808.com.ng. This domain was infamous for illegally streaming MultiChoice (SuperSport) content, drawing millions of visits from across Africa and beyond. The arrest, which took place on August 22,…
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Boeing signs deal with Nigeria to develop booming civil aviation sector
“Boeing and the Federal Ministry of Aviation and Aerospace Development of Nigeria signed a Memorandum of Understanding to strengthen the West African country’s aviation sector,” the release said. “Africa continues to be a promising market with its overall air-traffic growth forecasted well above the average global growth rate over the next 20 years.” In a…
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Miss Universe Nigeria 2024 competition kicks off in Lagos
The competition officially began on Saturday, with 24 contestants arriving at the Festival Hotel in Lagos for a week of preparation and competition. “The atmosphere was buzzing with excitement and anticipation as the delegates checked in and completed their registration process… With poised elegance, each contestant posed for the cameras, marking the beginning of their…
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Oando has acquired a 100% stake in the Nigerian Agip Oil Company from Italian energy giant Eni for $783 million
The deal expands Oando’s asset base to include 40 oil and gas fields, with 24 currently in production, 1,490 km of pipelines, 12 production stations, three gas processing plants, the Brass River Oil Terminal, and the Kwale-Okpai power plants with a combined capacity of 960MW. This transaction has increased Oando’s total reserves by 98%, from…
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Nigerian Fidelity bank hit with record fine by NDPC for data privacy violations
The Nigeria Data Protection Commission (NDPC) has fined Fidelity Bank 0.1% of its 2023 revenue, amounting to $358,580, for violating data laws during the account opening process, according to the agency’s report. This is the largest fine NDPC has imposed for data breaches, though Fidelity Bank is contesting the decision. The NDPC instructed Fidelity Bank…
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Dangote refinery on track to begin gasoline production in September, industry monitor IIR Energy says
The $20 billion refinery, owned by Africa’s richest man, Aliko Dangote, has been undergoing test runs for gasoline production. While initial plans targeted July for gasoline deliveries, the project has experienced delays and the timeline has now shifted to mid-September. The massive 650,000-barrel-per-day refinery, located on the outskirts of Lagos, commenced operations in January after…
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Cocoa prices unlikely to fall much this year despite higher production, media says
Weather conditions will become more favorable, which will lead to an increase in world production of cocoa beans by about 10%, causing their supply to exceed demand for the first time in four seasons, US media reported. However, the spread of chocolate tree diseases will hardly allow a return to previous prices. According to analysts…
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Nigeria police working to secure release of 20 kidnapped medical students
The Nigerian Medical Association says students from universities of Jos and Maiduguri were taken while travelling in Benue State. Nigerian police and security agencies are working to secure the release of 20 medical students who were kidnapped in the eastern part of the country, officials say. The medical students were on their way to an…
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