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Aliko Dangote Makes $17 Billion Bid For Immortality

AFRICANGLOBE - In many ways, Dangote’s ascent recalls that of Gilded Age tycoons such as Andrew Carnegie and Cornelius Vanderbilt, who accumulated great fortunes as they created industries.

Nigeria’s Oil Earning On The Rise

AFRICANGLOBE - For the first time in 2019, the price of crude oil has surged from $64.00 recorded last week to $66.35 over the weekend as a result of Organisation of Petroleum Exporting Countries, OPEC efforts targeted at eliminating excess oil from the volatile market, thus leading to an increase in the nation’s excess oil revenue.

Nigeria’s Election: Young Voters, Old Candidates

AFRICANGLOBE - Two men in their 70s are contesting a Nigerian presidential election in which half the registered voters are aged between 18 and 35. Both are familiar faces. It is the fifth election campaign for President Muhammadu Buhari, 76, who was a military ruler in the 1980s, and the fourth for main opposition candidate Atiku Abubakar, 72, who was vice president from 1999 to 2007.

Nigeria Will Lose $6 Billion In ‘Corrupt’ Oil Deal With Shell...

AFRICANGLOBE - A deal Shell and Eni brokered with the Nigerian government in 2011 is set to cost the African nation $6 billion in lost revenue, a report claimed Monday. The report, published by campaign group Global Witness, said the allegedly corrupt deal's terms would stop Nigeria accessing its share of the profits from oil extracted from its offshore block.

Nigeria Warn Citizens Against Travelling To The U.S.

AFRICANGLOBE - Nigeria's Senior Special Assistant to the President on Foreign and Diaspora Affairs, Abike Dabiri-Erewa, has advised Nigerians to postpone their travel plans to the United States. "In the last few weeks, the office has received a few cases of Nigerians with valid multiple-entry US visas being denied entry and sent back to Nigeria. “In such cases reported to the office, such affected persons were sent back immediately on the next available flight and their visas were cancelled,” she said.

Dangote Group Turns Nigeria Into Cement Exporter

AFRICANGLOBE - Through its recent investments, Dangote Cement has eliminated Nigeria’s dependence on imported cement and has transformed the nation into a net exporter of cement. Nigeria was one of the largest importers of the product globally purchasing an estimated 5.1 million metric tons, an amount that heavily weighed on the country’s balance of payments.

Nigeria Wins Back Africa’s Biggest Oil Field

AFRICANGLOBE - Nineteen years after it was first awarded to a controversial firm, OPL 245 has reverted back to the federal government. The block, considered the richest in Africa, is estimated to contain over 9 billion barrels of crude and even larger volume of gas reserves.

Taiwan Slams Nigeria For Closing Down Its Abuja Trade Office

AFRICANGLOBE - Taiwan protested on Thursday after Nigeria asked it to shut down its trade office in the capital, in what it said was an attempt by Beijing to push it out of Africa’s largest economy. The island’s foreign ministry said Nigeria had asked Taiwan to move its trade office out of the capital Abuja in a show of support for Beijing.

Nigeria Back On Top As Africa’s Largest Oil Producer

AFRICANGLOBE - Nigeria may have reclaimed its position as Africa's top oil producer which it lost to fellow African oil producer, Angola earlier in March 2016. According to the December 2016 Monthly Oil Market Report (MOMR) of the Organisation of Petroleum Exporting Countries (OPEC), crude oil production from Nigeria rose slightly above that of Angola even before the January 2017 planned production cut agreed by OPEC and non-OPEC producers.

Former Nigerian Minister Arrested In Multi Billion Dollar Corruption Case

AFRICANGLOBE - Nigeria’s anti-corruption agency on Friday arrested another former government minister in connection with a $2.1 billion corruption case. Former aviation minister Femi Fani-Kayode was arrested at around 1.55 p.m. local time outside a court building in Ikoyi, Lagos State.

Nigeria To Increase Oil Production By 22% By December

AFRICANGLOBE - Nigeria expects its oil production rate to jump by 22% by the end of the year to 2.2m barrels per day (bpd) from current levels, its oil minister said on Monday, adding he hoped a force majeure on all its oil fields would be lifted by December or January.

Nigeria Signs $50 Billion Oil And Gas Infrastructure Deal With China

AFRICANGLOBE - The Nigerian National Petroleum Corporation (NNPC) has said that its strategy to fund capital intensive projects in the upstream sector of the oil and gas industry has begun yielding fruits with the signing of a Memorandum of Understanding (MoU) with some Chinese companies worth $50 billion for infrastructure development.

Australian Workers Kidnapped In Nigeria

AFRICANGLOBE - Gunmen in southern Nigeria have killed a local driver and kidnapped two Nigerians, three Australians, a New Zealander and a South African working for an Australian mining company, officials said.

North Korea Threatens Nigeria Over ‘Provocative Film’

AFRICANGLOBE - Nigeria's National Film and Video Censors Board (NFVCB) said Monday that the North Korean Mission in Nigeria had made a formal complaint to it over the "illegal" distribution of a film which the mission regarded as provocative.

Meet The Nigerian Man Who Went From Refugee To Floyd Mayweather’s...

AFRICANGLOBE - By now you probably know a lot about the amazing luxury cars that Floyd "Money" Mayweather. Floyd buys cars like most of us buy eggs, once a week and 12 at a time. What you may not know, is that Floyd has hired someone to manage his ever growing car collection. That man is named Obi Okeke, and he has a very interesting story.

Nigeria’s New President Is No Messiah, But He Is Showing Potential

AFRICANGLOBE - It will be 100 days since Muhammadu Buhari took on arguably the most important job in Africa on Sunday: the presidency of Nigeria, the most populous nation and largest economy on the continent.
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