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Dangote, Adenuga, Rabiu dominate Africa’s billionaire index
Sopuruchi Onwuka Chairman of Dangote Group, Aliko Dangote, is in comfortable position as Africa’s richest man, West Africa’s leading billionaire and Nigeria’s wealth symbol. Besides just being a dollar billionaire, Aliko owns and runs Africa’s biggest manufacturing industries, being the…
Hunger catastrophe looms, the UN warns
A looming hunger catastrophe is set to explode over the next two years, creating the risk of unprecedented global political pressure, the executive director of the UN World Food Programme has warned. Calling for short- and long-term reforms – including…
Ukraine War: 1.6 bn people plunged into food crisis
Some 1.6 billion people or 20 percent of the world’s 8.0 billion population are severely impacted by the fallouts of the ongoing war ignited by Russia’s invasion of Ukraine. Out of the number, about 1.2 billion people around the globe…
Citi blames price surge on Ukraine war, values crude oil at $70
Global investment bank and industry advisory firm, Citi Group has thrown support for the position of the Organization of Petroleum Countries (OPEC) on the surging crude oil prices, saying that the prevailing strong prices are not a product of fundamental…
MPN divestment: Why NNPC shook the table
Sopuruchi Onwuka Inability of the highly anticipated acquisition of Mobil Producing Nigeria (MPN) Unlimited by leading indigenous independent firm, Seplat Energy Plc, to scale initial ministerial assent amplifies the new hard-line position of the Nigerian National Petroleum Company (NNPC) Limited…
Climate researchers demand 50% fossil energy output shut
Sopuruchi Onwuka New findings by researchers suggest that world governments and institutions should immediately stop nearly 200 new petroleum development projects and divert over $300 billion industry budget towards accelerating energy transition from fossil. The new study, coauthored by Greg…
Seplat to accelerate growth with MPN acquisition __Brown
Divests Ubima interest for $55 m Earns N100.6 bn revenue, N48.8 bn profit Sopuruchi Onwuka Indigenous multinational independent energy firm, Seplat, has declared that its proposed acquisition of Mobil Producing Nigeria Unlimited (MPNU) remains on course and awaits regulatory approval….
Russian war: EU forays Nigeria, OPEC for new oil and gas supply
Sopuruchi Onwuka With the coordinated Western response against the war in Ukraine, diplomats are mounting pressure on key petroleum producing countries to create new channels of supplies to the European countries which traditionally form the biggest customers of Russian oil…
Strong oil prices to accelerate Nigeria’s economic recovery _OPEC
Inflation remains a challenge Sopuruchi Onwuka Nigerian economy which is currently suffering galloping inflation, high unemployment rate and harsh business environment will find relief from anticipated investments in the hydrocarbon industry and improved oil revenue within the year. The Organization…
Ukraine war: 22m Nigerians, Sahel Africans starving
WFP seeks $777m for 6 month intervention programme Sopuruchi Onwuka Millions of people facing starvation in Sahel Africa and Nigeria will need urgent supply to avert mass undernourishment as the prices for food commodities like grains and vegetable oils reached…
