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Nigeria Increases Domestic Crude Supply as Dangote Refinery Expands

Nigeria Increases Domestic Crude Supply as Dangote Refinery Expands

Nigeria Increases Domestic Crude Supply as Dangote Refinery Expands
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Diplomatic Rift Emerges Between Nigeria and Alliance of Sahel States Over Security Remarks

Diplomatic Rift Emerges Between Nigeria and Alliance of Sahel States Over Security Remarks

A diplomatic dispute has arisen between Nigeria and the Alliance of Sahel States (AES), which includes Burkina Faso, Mali, and Niger, following comments made by Nigerian President Bola Tinubu. Tinubu suggested that insecurity in these Sahel countries was exacerbating Nigeria's own security challenges. In response, the AES summoned Nigeria's chargé d'affaires in Ouagadougou, rejecting Tinubu's assessment and emphasizing their sacrifices in combating armed groups. This incident highlights a growing divide in West Africa's security architecture, as Nigeria remains aligned with ECOWAS, while the AES pursues an independent security framework with increased cooperation with Russia.
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Dangote's Kenyan Refinery Project Costs Reduced by Lessons from Nigeria

Dangote's Kenyan Refinery Project Costs Reduced by Lessons from Nigeria

Dangote's Kenyan Refinery Project Costs Reduced by Lessons from Nigeria
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JonahCapital Seeks ICC Arbitration Over Abuja Property Dispute

JonahCapital Seeks ICC Arbitration Over Abuja Property Dispute

JonahCapital Nigeria Limited has initiated arbitration proceedings with the International Chamber of Commerce (ICC) in Paris over a dispute concerning a 501-hectare property in Abuja, Nigeria. The property, known as River Park Estate, was intended to host over 11,000 housing units and various facilities. JonahCapital claims that the Federal Capital Development Authority prematurely terminated their development agreement, which was supposed to be valid until June 2030. The arbitration process is being conducted under the ICC's rules, which differ from those of the International Criminal Court. Nigeria's Federal Capital Territory Minister, Nyesom Wike, has acknowledged the arbitration process, indicating that the matter is being addressed through legal channels.
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Myanmar's Dollar Deficit: Government Urged to Leverage Migrant Remittances

Myanmar's Dollar Deficit: Government Urged to Leverage Migrant Remittances

Myanmar's Dollar Deficit: Government Urged to Leverage Migrant Remittances
Reuters Reuters
Nigeria's EV ambitions run into reality of weak electricity supply

Nigeria's EV ambitions run into reality of weak electricity supply

LAGOS, Aug 12 (Reuters) - Nigeria approved tax waivers for nearly 4,000 electric vehicles in the first half of this year, government data showed, as authorities push to accelerate nascent EV adoption despite chronic electricity shortages.
Reuters Reuters
Analysis-Nigerians' cost of living pain deepens as election looms

Analysis-Nigerians' cost of living pain deepens as election looms

By Libby George and Abraham Achirga LONDON/ABUJA, Aug 10 (Reuters) - Grace Adama puts her earrings on in her two-room flat before grabbing her handbag and leaving for work in Abuja, Nigeria's capital.
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Nigeria's Tax Revenue Surges to N27tn Following Major Reforms

Nigeria's Tax Revenue Surges to N27tn Following Major Reforms

Nigeria's Tax Revenue Surges to N27tn Following Major Reforms
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Goldman Sachs Visits Dangote Refinery, Signaling Support for African Industrial Growth

Goldman Sachs Visits Dangote Refinery, Signaling Support for African Industrial Growth

Goldman Sachs Visits Dangote Refinery, Signaling Support for African Industrial Growth
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BCDA Leadership Dispute Halts N10bn Allocation Amidst Ministry's Withholding

BCDA Leadership Dispute Halts N10bn Allocation Amidst Ministry's Withholding

The Border Communities Development Agency (BCDA) in Nigeria is currently facing a leadership crisis that has led to the withholding of a N10 billion allocation by the Federal Ministry of Finance. The dispute arose after President Bola Tinubu appointed Abdulrazak Namdas as the new Director-General, replacing Dr. Dakorinama George, who was said to have resigned to contest an elective office. However, George has refused to vacate the position, claiming he never resigned. This standoff has resulted in the Ministry of Finance withholding funds until the leadership issue is resolved, as they require compliance with statutory and administrative requirements before releasing public funds. The BCDA, established to develop border communities, is now unable to execute its projects due to this impasse.
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China's Economic Influence Challenges Africa's Manufacturing Growth

China's Economic Influence Challenges Africa's Manufacturing Growth

The influx of Chinese goods into Africa is significantly impacting the continent's manufacturing sector. Chinese products, often sold below production costs, are capturing market share in key African markets such as Egypt, Kenya, Nigeria, and South Africa. This trend mirrors the 'China shock' experienced by the U.S. and other regions, where cheap imports disrupted local industries. In Africa, the rise of Chinese imports is stalling the growth of local manufacturing, which is crucial for job creation and economic development.
USA Today USA Today
Malawi secures first Women's World Cup qualification, Nigeria could have first-ever miss

Malawi secures first Women's World Cup qualification, Nigeria could have first-ever miss

The WAFCON quarterfinals are serving as qualification for Brazil 2027 and have produced several shock results.