Almost a year after securing the concession, Nigeria’s Mainstream Energy, which now manages two of the largest hydroelectric plants in the nation, has started to
Category: Africa
Tullow Oil will get $600 million in free cash flow from Jubilee Oil wells in the next 2 years.
On Wednesday, Tullow Oil announced that the commencement of the Jubilee South East operation off the coast of Ghana had boosted production and exceeded forecasts
Mota-Engil, Portugal’s largest builder, wins $1b contracts in Angola and Mexico.
The largest builder in Portugal, Mota-Engil, has signed four contracts in Angola and Mexico worth a combined total of 975 million euros ($1.06 billion). This
Nigeria’s central bank, in a bid to boost investors’ confidence, clears 14 banks’ FX backlog and takes on airlines.
An official said on Wednesday that settlements with international airlines have now started after Nigeria’s central bank cleared 14 banks’ whole foreign exchange forwards liabilities.
Shell will sell Nigeria’s onshore oil business for $2.4 billion after nearly 100 years of operations.
Following nearly a century of operations, British energy giant Shell has decided to sell its Nigerian onshore oil and gas division to a group of
Nigeria’s inflation hits 28.92% in December, the highest in 27 years.
Food prices spiked in December, making inflation in Nigeria the worst it has been in over 27 years. This exacerbated the country’s cost-of-living crisis and
Nigeria’s central bank pays $2b of a $7b matured forward contract amid the FX crunch.
To clear a backlog of dollars, Nigeria’s central bank has paid roughly $2 billion in unpaid foreign exchange forwards in the previous three months, according
Nigeria’s FX reserve is down to a six-year low of $32.87b as the local currency goes into a free fall.
Data released on Friday revealed that, as the central bank sold dollars in an attempt to support the faltering naira currency, Nigeria’s foreign exchange reserves
British American Tobacco agrees to the largest ever fine of $110m for violating Nigeria’s anti-competition laws.
British American Tobacco (BAT) was fined $110 million by Nigeria’s competition commission on Wednesday, the watchdog said, in response to claims that it had abused
Nigerian banks given the nod to facilitate $56.7b crypto transactions.
In its most recent circular, Nigeria’s central bank said that it has lifted the prohibition on cryptocurrency transactions, citing the need to regulate these activities
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