Western miners lag as oil powers enter race for Africa’s critical metals
February 2, 2024 Risk aversion is likely to leave major Western miners lagging in a race to tap Africa’s reserves of critical raw materials that has gathered pace now Middle…
World Bank to offer countries access to emergency funds from existing loans
February 2, 2024 The World Bank on Thursday said it approved new initiatives to allow member countries hit by natural disasters and other shocks to quickly access emergency funds from…
FG says miners, operators owing the country over N2trn, vows stringent action against illegal mining
Feb. 1, 2024 The Federal Government has revealed that miners and operators across the country owed the Federal Government over N2trillion, with Kaduna State alone accumulating a debt exceeding N300billion….
OPEC+ committee meeting keeps oil output policy unchanged
February 1, 2024 A committee of OPEC+ ministers proposed no changes to the group’s oil output plans at a meeting on Thursday. Leading ministers from the Organisation of the Petroleum…
LASG to invest N550.689bn in infrastructure in 2024
Feb. 1, 2024 The Lagos State government has said it will invest N550.689bn to develop and maintain its infrastructure in 2024. The Commissioner of Economic Planning and Budget, Ope George…
IATA says another $700m owed money still in Nigerian banks
Jan. 31, 2024 Nigeria’s central bank said it had cleared the entire backlog of verified claims owed to foreign airlines whose payments had been blocked in the country, but airline…
Nigeria seeks to resolve disputed oilfield issues, denies criminal liability
January 31, 2024 Nigeria wants to resolve outstanding issues around the disputed OPL 245 oil block as it seeks to attract investment to its oil and gas industry and has…
Burkina Faso may leave West African currency union, Mali says not planning to
Jan. 31, 2024 Mail said on Wednesday it was not planning to leave West Africa’s currency zone while Burkino Faso indicated it would do so after they and Niger announced…
Nigeria caps FX position for banks, dollar bonds drop
Jan. 31, 2024 Nigeria’s central bank announced limits on how much banks can hold in foreign currencies on Wednesday and expressed concern about the growth of forex exposures on their…
FG, UK partner on minerals deposits development
Jan. 31, 2024 The Federal Government is partnering with the United Kingdom to establish a joint technical working group for the development of critical mineral deposits in the country. Dr…