Africa Oil and Gas 

Crude oil closes high, Nigeria to comply with output cut

Petroleum rates finished with a weekly gain of about 10% on Friday, as the sudden drop in U.S. production output of petroleum, together with OPEC output cuts, provides hope that the oil glut in the market will reduce significantly. International standard, Brent crude closed at $42.20 for a 9.5% weekly gain, after it opened on Monday at $38.80 a barrel. West Texas Intermediate (WTI) likewise completed the week on an excellent note, as it closed at $39.98 a barrel with an 11% weekly boost, after starting the week at $36.03…

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Advertising Africa 

Alleged land trespass: Court stops Enugu lawmaker

A serving lawmaker in Enugu State, Mr. Emeka Madau has been restrained by a High Court presided over by Justice E. N. Alukwu from further trespassing or selling a portion of land in dispute. The land in question is located at the Artisan Market, Asata, within the Enugu Capital City. Madu, who is representing Igboeze South in the Enugu State House of Assembly, is being accused of illegally trespassing into the property. Ruling in a motion ex-parte in suit no. E/50/2020, Alukwu also restrained the defendant/respondent, his agents, privies and…

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Africa African Business News Retail 

Forbes Nigeria Summit Will Function Top Business from the 1st Digital Accelerator Program for Nigeria

Forbes revealed Nigeria’s First Digital Start-up Accelerator program powered by the International Start-up Ecosystem early this year and within 2 weeks got over 5000+ applications. 200 business were chosen for the 2020 program which used 4 weeks of complimentary virtual training from 50 worldwide speakers and access to $100k in complimentary credits and benefits from AWS, Google Cloud, IBM Cloud and Sendgrid. The program will culminate on June 25, 2020 from 12-3pm EST with the very first Forbes Nigeria Summit featuring the leading business from the friend. All 100+ environment…

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Africa Oil and Gas 

Producers hopeful of $50 oil cost, business sustainability from cuts Business

Although OPEC concurred at the weekend to extend 9.7 million barrels cuts in daily crude oil production through completion of July, providing oil rates some support, operators in the exploration market are enthusiastic that the cuts would be sustained to help production and organisation sustainability. In the course of international lock down, the occurring energy imbalance impacted oil manufacturers and rates such that service sustainability was threatened and capability to service over N3.4 trillion loans damaged. With the lock down raised and oil costs rebounding, African Energy Chamber thinks that…

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Aerospace Africa 

Akwa Ibom Senators want FG to reopen international airport in Uyo

Senators from Akwa Ibom State have pleaded with the Federal Government to include Akwa Ibom airport among the five international airports meant to be opened on June 21st. Senator Albert Bassey Akpan, speaking on behalf of two others from the State revealed that about 105 aircraft fly in and out of the airport weekly. He further explained that the State government recently procured another aircraft to be added to the fleet, saying that when the airport is opened, it would boost economic activities of the State. “Mr President, distinguished colleagues,…

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