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Dear friends of Energypost Africa The present infrastructure deficit in Africa and the saturation of investment in Asia should be an incentive for die-hard, risk taking, profit focused investors to consider Africa as the next frontier for global development and investment. Africa is rich in resources; however for capitalism to succeed and continue its dominance and convergence in global wealth distribution...
infrastructure industry is set to save a whooping N213.5 billion ($700 million) annually with increased local content input through the establishment of oil pipe mills in the country. The said amount of money would have gone out as capital flight, but the federal government is now more determined to domesticate a greater percentage of oil and gas jobs by expanding...
midstream cargo discharge and unauthorised berthing of vessels on-going on Nigerian waters while calling on the Ministry of Transportation, Nigerian Ports Authority (NPA) and the Nigeria Customs Service (NCS) to rise up to the challenge. MWUN's immediate past President-General, Comrade Tony Nted, noted that with the concerned vessels’ cargoes being discharged by their crew members, the nation risks more danger...
Oil prices are slowly recovering from a four-month low after the US reported a substantial increase in stocks that concerned investors about the effectiveness of OPEC-led output cuts. Brent crude that dropped to $49.71, the lowest since 30 November last year, trading at $50.84 a barrel, while US light crude gained 20 cents to reach $48.24 a barrel, reported Reuters. The US Energy...
Homeland Integrated Offshore Services Limited (Homeland) of Nigeria has ordered one more of the same class with an option on a second, to be named Guardian 3 and Guardian 4 for operations off the coast of Nigeria. Like their two predecessors, the two vessels are being supplied as a turnkey solution. The Damen Group is taking care of delivery and...
The profit signifies a 266 percent increase from N4.05 billion declared as profit in December 2015. The company consequently proposed a reward of N7 per every 50 kobo of shares held by investors as final dividend for the 2016 financial year, amounting to N5.8 billion. During the year ended 31st December, 2016 the Directors had authorised the payment of N10 as...
Loans from the Central Bank of Nigeria (CBN) to commercial banks operating in the country has soared to N9.85 trillion in 11 weeks due to illiquidity in the economy, LEADERSHIP checks have revealed. It was also gathered that the increase in borrowings by the banks may have been triggered by demand for funds to participate in the special foreign exchange...
Mining activities in the country are to witness a boost through value addition and greater level of involvement by state governments. The Minister of Mines and steel Development, Dr. Kayode Fayemi, disclosed this at the Government House, Kaduna, during a courtesy visit to the Acting Governor, Arc Barnabas Bala-Bantex ahead of his tour of mining sites and mineral bearing communities...
The Dangote Group and the Nigerian Petroleum Development Company, a subsidiary of the Nigerian National Petroleum Corporation (NNPC) and over 20 companies are set to bid for the nation’s marginal oil blocks as the government moves to sell them to potential buyers this year, Independent reports. Investigations showed that Dangote, which is currently constructing a multi-billion dollar refinery in Lagos,...
Association (OGTAN) has commended the management of the Nigerian National Petroleum Corporation (NNPC) under the leadership of the Group Managing Director, Dr. Maikanti Baru, for sanitizing the distribution channels of petroleum products in the country. President of OGTAN, Dr. Mayowa Afe, gave this commendation during a courtesy visit to the GMD at the NNPC Towers, Abuja, recently. OGTAN is the independent...

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