Nigeria and Turkey, yesterday, signed eight major memorandum of understandings (MoUs) on key sectors, including energy, defence, mining and hydrocarbons with the implementation to commence immediately. President Muhammadu Buhari made the disclosure at a joint press conference on the occasion of the official visit of Turkish President, Recep Tayyip Erdogan to Nigeria. According to a statement
By Taofik Salako, And Muyiwa Lucas. Rising oil price improves the prospects of Nigeria’s budget implementation but it may also stoke inflation and increased hardship on the average Nigerian, in a delicate balancing for a country whose major export is crude oil and import is refined petroleum products. Oil prices spiralled to three-year high above
Commodity markets can make or break economies. In the first half of the 19th century, the booming whaling industry made New England rich, and New Bedford, Massachusetts, was probably for a while the most prosperous city in the US. But overharvesting made whaling increasingly difficult and whale oil more expensive, and it was steadily replaced
By Ritesh Barot Business & Financial Analyst Kenyans are furious over repeated fuel price increases this year. The latest last month caused a rumpus as wananchi were already suffering economic adversity due to the effects of the Covid-19 scourge. Fuel prices are at record highs due to an increase in taxes approved by parliament. Petrol prices
Dubai ports giant DP World and Britain’s development finance agency CDC Group on Tuesday said they planned to jointly invest up to $1.72 billion in logistics infrastructure in Africa over the next several years, starting with modernising three ports. The investments will initially focus on expanding ports operated by DP World in Egypt’s Ain Sokhna,
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