November 26, 2014
President Jonathan launches implementation of N100bn Nigerian component of GGW project

President Goodluck Jonathan on Tuesday formally launched the implementation of the Nigerian component of the Great Green Wall (GGW) initiative at Bachaka in Arewa Local Government Area of Kebbi State worth over N100 billion. The GGW is a regional afforestation programme which is designed to create a greenbelt of trees across Africa at the southern…

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November 25, 2014
Global energy demand to rise by 60% — OPEC Report

The falling oil prices will probably be temporary going by the Organisation of Petroleum Exporting Countries, OPEC report just released. The OPEC report as contained in the World Oil Outlook for 2014 stated that by 2040, energy demand is expected to increase by 60 percent to 256 million barrels oil equivalent per day (mb/d). The report…

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November 21, 2014
Oil Price Slump: FG to Increase Taxes, IGR

Owing to the slump in oil prices, the federal government on Thursday disclosed that it had mapped out measures to increase taxes and other forms of internally generated revenue (IGR) in the country. The Lagos State Deputy Governor, Mrs. Victoria Adejoke Orelope-Adefulire, stated this when she briefed State House correspondents after the National Economic Council…

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November 18, 2014
Oil: Nigeria facing stiff competition from East African countries

Apparently referring to the non passage of the petroleum industry bill, PIB, the Managing Director of Total Upstream Company in Nigeria, Elizabeth Proust, said that Nigeria is fast losing oil exploration investments to East African countries. Proust, who stated this at the National Association of Petroleum Explorationists, NAPE, conference in Lagos, said that Nigeria is…

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November 11, 2014
Revolution to put food on Nigerians tables – Minister of Agriculture

To him, inclusive growth in the economy is not complete without the rural dwellers whose life depends on agriculture, so he sees himself as being on a mission to integrate the rural dwellers through transformation of agriculture. Today, Dr. Akinwumi Adesina, Agriculture and Rural Development Minister, sees his journey in the corridor of power as…

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November 10, 2014
Nigeria needs oil at $126 to balance its budget – Deutsche Bank

With less than three weeks to go before the Organisation of Petroleum Exporting Countries, OPEC, meets in Vienna and the selloff in oil showing few signs of letting up, speculation is mounting the group will take action to try to stem the decline. But countries like Nigeria, Iran, Venezuela and Russia, who depend on oil…

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November 9, 2014
Africa: Time to upscale renewable energy

It is no longer a secret. The world is fast running out of traditional energy sources such as coal. Furthermore, emissions from these fossil fuels have increased climate warming and caused environmental damage. Therefore, the global community needs to start preparing for the future by embracing the use of renewable energy services and sources. In…

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November 5, 2014
Nigeria faces twin currency, budget woes as oil price slumps

A sharp drop in global oil prices has raised the twin spectres of a potential currency devaluation and budget shortfalls in Nigeria just as Africa’s biggest economy gears up for a closely fought and costly presidential election in February. Nigeria, the continent’s top producer, relies on oil for only 14 percent of its gross domestic…

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