Companies mining in Mali have not so far been impacted by tough economic sanctions imposed on the country by the Economic Community of West African States (ECOWAS), they said, telling investors their mines can withstand potential supply disruption. Mali is one of Africa’s biggest gold producers, with mining contributing around 10% of its gross domestic
The Board of Directors of the African Development Bank has approved a line of credit of €70 million and an equity investment of $24 million, to be granted to the West African Development Bank. The line of credit will support businesses in the West African Economic and Monetary Union, particularly in job-creating sectors such as agribusiness,
Nigeria got no revenue from crude oil export in the month of October despite an average daily oil production of 1.417 million barrels in the month of September, latest report by the Nigeria National Petroleum Corporation (NNPC) has shown. NNPC on its report to the Federation Account allocation Committee (FAAC) released at the weekend disclosed
The cost of Premium Motor Spirit, also known as petrol, imported into Nigeria from January to September this year surged by 55.56 per cent to N2.52tn from the N1.62tn spent in the same period of 2020. The development came amid the Federal Government’s plan to remove subsidy from petrol by February next year. Already, oil
Nigeria’s marine and services group, UTM Offshore Limited, and the African Export-Import Bank (Afreximbank) on Tuesday in Abuja, signed a Memorandum of Understanding (MoU) to raise $5 billion for the development of Nigeria’s first floating liquefied natural gas (FLNG) project. The deal that is in two parts would see the continental bank raising $2 billion
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