Category archives for: Business

A look At Angola’s New Oil-Licensing Strategy (2019 – 2025)

By Adriano Rioja Ciprian LAGOS MARCH 15TH (NEWSRANGERS)-In yet another landmark reform for its hydrocarbons sector, Angola released in February 2019 a new Presidential Decree detailing the country’s oil licensing strategy for the next six years. Published in February 2019, Presidential Decree No. 52/19 is a continuation of the Lourenço administration’s efforts to incentivize investments […]

Dangote, Chevron Nigeria Sign Historic Agreement On Gas Supply

LAGOS, Nigeria, March 14, 2019/ — Dangote Fertilizer Limited has entered into a long-term agreement with Chevron Nigeria Limited (CNL) for the delivery of Natural Gas from Chevron’s supply portfolio to the fertilizer plant, which is poised to start operations soon. The contract, under the Gas Sale and Aggregation Agreement (GSAA) is part of International […]

120 Niger Delta entrepreneurs receive Shell Nigeria LiveWIRE Grants

LAGOS MARCH 6TH (NEWSRANGERS)-Another 120 youth entrepreneurs from seven states of the Niger Delta have been given Shell Nigeria LiveWIRE business training and N48 million by The Shell Petroleum Development Company (SPDC) Joint Venture to begin small-scale businesses in their respective states in the expectation that they will become models for alternative livelihoods as part […]

Govt Bonds Rise After Buhari Wins Presidential Election

LAGOS FEBRUARY 28TH (NEWSRANGERS)-Nigeria’s dollar-denominated government bonds rose to 5-7 month highs on Wednesday after President Muhammadu Buhari won a second term at the helm of Africa’s largest economy and top oil producer. The country’s longer-dated bonds were up as much as 0.8 cents in the dollar to extend a more than 10 cents rally […]

Nigeria Foreign Reserves Decline To Two-Month Low Of $42.86bn

LAGOS FEBRUARY 18TH (NEWSRANGERS)-The nation’s foreign exchange reserves have fallen to $42.86bn, the lowest level in two months, the latest data from the Central Bank of Nigeria showed on Sunday. The reserves, which stood at $43.174bn on January 31, dropped by $314m in two weeks to $42.86bn on February 14. The external reserves had risen […]

“Nigeria’ll Lose Over N140bn Over Election Postponement”

LAGOS FEBRUARY 16TH (NEWSRANGERS)-Mr Ken Ukaoha, President, National Association of Nigerian Traders (NANTs) says the country will lose more than N140 billion due to the postponement of the general elections. Ukaoha told the News Agency of Nigeria (NAN) in Abuja on Saturday that the postponement would affect the trading sector adversely. He noted that many […]

Shell, Joint Venture Partners Sign 300 Million Cubic Feet Of Gas

LAGOS FEBRUARY 14TH (NEWSRANGERS)-The Shell Petroleum Development Company of Nigeria Limited (SPDC) and its joint venture partners signed a Final Investment Decision agreement for a 300 million cubic feet of gas on Wednesday in Abuja at a ceremony witnessed by the Managing Director of Total Exploration and Production Nigeria Limited, Mr. Nicholas Terraz and the […]

FirstBank Partners Azuri To Bring Solar To Millions In Affordable Price In Nigeria

LAGOS FEBRUARY 7TH (NEWSRANGERS) – Azuri Technologies, a leader in pay-as-you-go solar technology in Africa, and First Bank of Nigeria Limited today announced a unique partnership that will help deepen financial inclusion in Nigeria while bringing affordable, reliable and clean power to millions of Nigerians. Under the partnership, Azuri’s solar home TV product will be […]

Cryptocurrency Founder Dies With Passwords To Clients’ $190m

LAGOS FEBRUARY 4TH (NEWSRANGERS)-In a case reminiscent of the MMM saga, Canada’s leading cryptocurrency exchange company has said it cannot immediately repay customers’ $190m because its founder died with their passwords. According to the Sky News, founder of QuadrigaCX, 30-year-old Gerald Cotten, died of alleged complications with Crohn’s disease during a trip to India where […]

Nigeria’s $15bn Oil Refinery Is On Track- Dangote

LAGOS JANUARY 22ND (NEWSRANGERS) — Nigerian billionaire Aliko Dangote said he’s on schedule to finish by next year his $15 billion oil refinery, which will be one of the world’s biggest, despite analysts saying the timeline is ambitious. “There are quite a lot of challenges, but we’re moving,” Dangote told reporters at a conference in […]

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