December 10, 2023

SPOTLIGHT

Federal Sympathy

Nigerian President offers federal sympathy after a deadly drone strike on a Muslim celebration killed over 100 people Air Force denies responsibility At least 100 people were killed in an alleged military drone strike in Nigeria’s northern Kaduna state over the weekend, according to local authorities. Nigerian President Bola Tinubu has ordered a probe into the incident.  The bombing on Sunday night...

African Loan

Nigeria's cabinet approves $1 billion African loan from continental development bank repayable over 25 years as it revises 2024 budget from 1.5 trillion to 27.5 trillion Naira Nigeria's federal executive council chaired by President Bola Tinubu has approved a $1 billion concessionary loan from the African Development Bank (AfDB) to support financing the budget and improve foreign exchange supply, Finance...

Africa Resists OPEC+

Africa resists OPEC+ Nigeria and Angola want to increase oil production despite cartel's plans to cut production in 2024 as data confirms Nigeria had a flat Q3 Two African members of the OPEC+ group of oil-producing countries, Angola and Nigeria, have defied the organization’s plans to cut output and demanded that their production quotas be raised, Reuters reported on Thursday....

Gas Deal

Nigeria and Germany sign gas deal worth $500m but it will be 2026 before it bears fruit Berlin says it will also invest $4 billion in green energy for Africa Nigerian and German companies on Tuesday signed two accords in Berlin that include a $500 million renewable energy pact and a gas export deal, further strengthening economic ties between the...

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