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Mr Abhay Thakur, the High Commissioner of India to Nigeria, has said that Nigeria alone accounted for 20 per cent of India’s trade in Africa for the year 2018.

India seeks closer ties with Nigeria as trade volume reaches $14 billion

India has expressed its readiness to deepen economic ties with Nigeria towards promoting investment and trade between both countries.
A man is silhouetted against the logo of the World Bank at the main venue for the International Monetary Fund (IMF) and World Bank annual meeting in Tokyo. REUTERS-Kim Kyung-Hoon

World Bank: Lower oil demand may persist beyond 2021

It stated that while metal and agricultural commodities had recouped their losses from the COVID-19 pandemic and were expected to make modest gains in 2021, energy prices, despite some recovery, were expected to stabilise below pre-pandemic levels next year.
As candidates jostle for the Director-General position of the World Trade Organisaion, WTO, Female Parliamentary in Nigeria, Friday, threw weight behind former Minister of Finance, Ngozi Okonjo-Iweala, to occupy the number one position of the organization.

WTO: European Parliament endorses Ngozi Okonjo-Iweala

The European Parliament has endorsed the candidacy of Nigeria’s Ngozi Okonjo-Iweala in her quest to lead the World Trade Organisation as Director-General.

Tony Elumelu named in 2020 TIME100

TIME has named Tony O. Elumelu, one of Africa’s leading investors and philanthropists, in the 2020 TIME100, the annual list of the 100 most influential people in the world. The list, now in its seventeenth year, recognises the activism, innovation, and achievement of the world’s most influential individuals. Mr Elumelu, who is one of only four Africans on the 2020 list, is recognised for his track record of business turnaround and value creation, and economic empowerment of young Africans.
EDITORS NOTE: Graphic content / Singapore-flagged container ship Kota Singa is docked at the Apapa Port Complex in Lagos, Nigeria's economy hub, on April 8, 2019. - The Nigerian port is congested with hundreds of ships, idly queueing for days to offload containers with goods. Lagos port congestion is affecting port operations and creating a severe backlog at ports, causing carriers’ containers to be held in port for extra days, as well as creating several miles of truck traffic at roads that links to port gates. (Photo by PIUS UTOMI EKPEI / AFP)

NPA expects 19 ships with petroleum products, others at Lagos port

The Nigerian Ports Authority (NPA) says it is expecting 19 ships, laden with petroleum products, food items and other goods from Sept. 23 to Oct. 3.
The Oyo State chapter of Zenith Labour Party (ZLP) says Governor Seyi Makinde disappointed himself for failing to fulfil the promises made to the party few days to the 2019 gubernatorial election.

Oyo government re-awards Saki, Oyo township roads, expands energy ministry

The Government of Oyo State, on Tuesday, announced it has re-awarded the contract for the construction of Saki Township Road at the cost of Four Billion, Seven Hundred and Ninety-Six Million Naira (N4,796,000,000,).

Manufacturers urges Nigerian government to review levies on imported electricity meters

The Electricity Meter Manufacturers Association of Nigeria (EMMAN) has appealed to the Federal Government to review its levies on imported electricity meters to promote full local content in the production of pre-paid meters.
President Muhammadu Buhari on Sunday said the federal government will provide relief materials for residents of Lagos and Abuja whom he ordered to stay-at-home as part of measures to curb the spread of the coronavirus.

President Buhari: It’ll be dangerous to go back to fuel subsidy era

President Muhammadu Buhari has warned that it would be economically dangerous for Nigeria to go back to the era of fuel subsidy, citing grave financial cost and a return to the era of long fuel queues as certain results.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil drops more than $1 after Saudi price cuts, demand optimism fades

The drop is coming after Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months as optimism about demand recovery cooled amid the coronavirus pandemic.
6. All Progressives Congress chieftains including former Lagos State Governor, Asiwaju Bola Tinubu; and former Osun State Governor, Chief Bisi Akande, on Saturday, arrived in Akure, the Ondo State capital.

Senator Tinubu: Amotekun will be a pet if everyone is engaged

A former governor of Lagos State and National Leader of the All Progressives Congress, APC, Asiwaju Bola Tinubu, has called for a review of the country’s revenue formula, saying Amotekun security outfit in the S/West will be a pet if everyone is engaged.
The school year in Iran began on Saturday after a near six-month shutdown due to the novel coronavirus pandemic, with parents voicing concerns despite authorities pledging to enforce health protocols.

New school year begins in Iran amidst concerns, criticism

Some 15 million pupils in the Islamic republic returned to class, mostly remotely, as the country continues to battle its Covid-19 outbreak, the deadliest in the Middle East with over 22,000 killed and more than 384,000 infected since the first cases were confirmed in February.
Embattled President of African Development Bank (AfDB), Dr Adewumi Adesina, has survived a second round of investigation into his conduct, giving him a boost in his re-election bid next month.

Nigerian farmers hail AfDB’s boss over re-election, inauguration

Over 40 million Nigerian farmers under the auspices of All Farmers Association of Nigeria, AFAN, Saturday, hailed Dr Akinwunmi Adesina, over re-election and subsequent inauguration as African Development Bank’s President for a second tenure.
Nigerian National Petroleum Corporation (NNPC) has disclosed that its Upstream subsidiary – Nigerian Petroleum Development Company (NPDC) is the largest producer of gas contributing 1bscfg-d to the domestic market for power generation.

NNPC obtains $1 billion to fund upstream operations of NPDC

The Nigerian National Petroleum Corporation, NNPC, yesterday, said, it has obtained a prepayment funding of circa US$1b to support the upstream operations of its subsidiary, Nigerian Petroleum Development Company, NPDC.

Expert lauds President Buhari for granting waiver on prepaid meters import levy

An Electricity expert, Mr Mohammed Idris on Monday commended President Muhammadu Buhari for granting a one-year waiver on import levy on prepaid electricity meters.
Director of Information, National Assembly Abuja, Rawlings Agada, has said the sum of N37 billion, approved for the renovation of the National assembly complex may not be enough for the work.

Proposed constitutional review, waste of resources – Northern elders

The Northern Elders Forum (NEF) has described proposed Constitutional review by the National Assembly as a waste of resources and energy.
LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and other West African nations has secured $184 million to finance the appraisal drilling and initial development programme activities on the Ogo field within Oil Prospecting Lease, OPL 310.

Lekoil seeks $100 million for Ogo oilfield drilling

Nigerian energy company Lekoil Ltd needs to raise around $100 million before it can start drilling in its Ogo oilfield, its chief executive told Reuters.
Zainab Ahmed

Nigeria’s recession will be short-lived – minister

This came as the Federal Government, yesterday, said despite the N2.3 trillion Economic Stimulus Plan put in place to contain impact of the Coronavirus (COVID-19) pandemic on the economy, there is the possibility that the third quarter, 2020 (Q3’20) Gross Domestic Product, GDP, growth rate will be negative, while the economy will relapse into a recession.
Workers sort online orders before they are delivered to customers from a Checkers store, amid a nationwide coronavirus lockdown, in Johannesburg, South Africa, July 14, 2020. REUTERS-Siphiwe Sibeko

South Africa consumer inflation rises to 3.2% y/y in July

South Africa’s headline consumer inflation quickened to 3.2% year-on-year in July from 2.2% in June, data from Statistics South Africa showed on Wednesday.

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Zimbabwe President Emmerson Mnangagwa is at odds with a business tycoon who could help Zimbabwe. Jekesai Njikizana -AFP

Moscow to assist Zimbabwe in overcoming consequences of EU, US sanctions

Russia will enhance investment cooperation with Zimbabwe and promote the African country’s socio-economic development to help it overcome the consequences of U.S. and EU sanctions, an official said on Sunday.

SMEDAN collaborate with Zamfara on fashion, arts and craft skills

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in collaboration with the Zamfara State Government will host Youths, Women and those with Disabilities to a Talent Hunt Programme in Fashion, Arts and Craft skills.
The Nigeria Police Force says its investigation shows that Boko Haram, Ansaru and other terror groups are getting support from some Nigerians.

AIG sues for collaboration in restoring peace, security

The Assistant Inspector General of Police (AIG) in charge of zone 5, AIG Sholla David, has sued for collaboration from residents in restoring peace and security in the zone.

NAPTIP vows to boost Nigeria’s image as UNODC appoints DG

The Director General of National Agency for the Prohibition of Trafficking in Persons (NAPTIP), Dame Julie Okah–Donli, has vowed to boost the image of Nigeria as United Nations Office on Drugs and Crime (UNODC) appointed her board of Trustees of UNODC’S victim of Trafficking Trust Fund.

ECOWAS seeks to name, shame countries flouting court’s rulings

The Economic Community of West African States (ECOWAS) says it plans to name and shame countries who have not regarded the decisions and rulings of the Community institutions.