Africa Asia Business Community Headlines International

OIC handpicks Nigeria as food storage hub

Member-states of the Organization of Islamic Cooperation (OIC) have chosen Nigeria to serve as a food and grain storage hub for the group’s member states.   “All the member countries of OIC selected Nigeria as the storage hub,” Director of Nigeria’s Federal Department of Agriculture, Abdullahi Abubaka, said.   The OIC Secretariat will mobilize resources, […]

Africa Culture Headlines International Lifestyle

Germany hands over 20 looted Benin bronzes to Nigeria to deal with ‘dark colonial past’

A ceremony held in Nigeria on Tuesday (20 December), which saw twenty historic bronze sculptures returned to the country by Germany as part of efforts to address its “dark colonial past,” was the culmination of a years-long process that upended Germany’s approach to museum items looted during the colonial era. Germany’s Foreign Minister Annalena Baerbock […]

Africa Finance International

Nigeria collects $1.4Bn in VAT in Q3 2022

Nigeria’s federal government generated 625.39 billion nairas ($1.4 billion) in value-added tax (VAT) in the third quarter of 2022, reports say. The figure accounts for 25.95% increase from the previous year. The tax payments collected rose by 4.21% from 600.15 billion nairas in the second quarter of the year per data gathered by National Bureau […]

Africa Americas Energy Headlines International Morocco

Meeting in Washington highlights role of Morocco, Nigeria in Africa’s energy Sector

Participants at a meeting held Friday in Washington on the role of Nigeria and Morocco in regional cooperation and the future of the energy sector in Africa, stressed that both countries can benefit from the transformation of the global energy market needs, and that this strong bilateral partnership plays an important role in securing the […]

Africa International

Nigeria: Police kill three gunmen attacking Electoral Commission office

Police in Nigeria have killed three gunmen while repelling an attack on an office of the Electoral Commission (INEC) in the south-eastern region of the populated African country which is heading to presidential elections early next year. The attackers tried to storm the main INEC office in Owerri, capital of Imo State, police said, on […]

Africa Emerging Markets Finance International

Nigeria caps weekly cash withdrawals, Moody’s warns of ‘very high’ foreign currency risks

Nigeria’s central bank has imposed restrictions on weekly cash withdrawals to limit the use of cash as credit agency Moody’s warned that the country’s banks face tough challenges over a dollar shortage. Foreign currency risk is “very high” for Nigeria’s banking system, according to a report by Moody’s. Nigeria is one of seven countries worldwide […]

Africa Egypt Headlines International

Egypt, Nigeria ink MoU to boost cooperation in communication sector

Egypt and Nigeria have signed a memorandum of understanding to enhance cooperation between the two countries in the fields of communication, information technology and digital economy, the Arab country announced Sunday. Per the MoU, the two parties will strategically cooperate in the areas of broadband and optical networking, the use of end-user devices, and the […]

Africa Headlines International

Chad’s leader elected new Chair of Lake Chad Basin Commission

The Lake Chad Basin Commission (LCBC) elected Tuesday Mahamat Idriss Deby Itno, the President of the Transition Military Council of Chad, as its new Chairman in replacement of Nigeria’s President Muhammadu Buhari. The commission gathered in Abuja at the 16th Summit of the Heads of State and Government. Buhari, reports say, before handing the baton […]

Africa International

Nigerian Electoral Commission office set on fire in Ebonyi state

The Nigerian Electoral Commission (INEC) has said its local office was burnt down on Sunday in the southeastern state of Ebony, the third incident in November three months ahead of presidential and parliamentary elections. “Our Izzi local government office in Iboko was burnt down,” INEC spokesman Festus Okoye said in a statement on Sunday. Okoye […]

Africa Energy International

Nigeria’s state-owned oil giant launches its first drilling site in country’s north

Drilling for oil and gas began in Nigeria’s northeast this week, a first for the African oil giant, NNPC, which has exploited large deposits in the south for decades and whose production is declining. During a visit in the Kolmani field, located in Gombe and Bauchi states, to inaugurate the drilling site, Nigeria’s President Muhammadu […]