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RAEC JV welcomes new partners as Vaaris closes $800m TotalEnergies deal
Sopuruchi Onwuka, Editor French energy giant, TotalEnergies, has completed the sale of its 10 per cent equity interest in 15 oil licences operated by Renaissance Africa Energy Company (RAEC) Limited in Nigeria to Vaaris for $800 million. Italian oil major,…
Four gas FIDs in 2 years signal investment recovery __Verheijen
Presidential adviser says Nigeria’s average daily gas production has increased to 8bcf, stressing that predictable incentives and a stable investment environment are critical to converting resource wealth into prosperity. Nigeria has recorded four final investment decisions (FIDs) in gas projects…
Dangote plans new growth target beyond $100bn Vision 2030
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has declared that the conglomerate is reconsidering its $100 billion Vision 2030 target, with plans to unveil a more ambitious growth strategy in January as its expanding industrial investments reshape…
Petroleum licensing: Time to end politics, embrace global best practices
Sopuruchi Onwuka Nigeria’s increasingly aggressive use of petroleum licensing rounds to attract investment, expand exploration and raise oil and gas production risks producing the opposite of the desired outcome if the management of license awards continues to leave critical commercial…
Dangote’s US listing to put refinery on global valuation template
Sopuruchi Onwuka Dangote Refinery’s planned listing on a United States stock exchange could become the next major test of investor confidence in Africa’s biggest private industrial project, following its $1.6 billion Initial Public Offering (IPO) on the Nigerian Exchange. In…
UK, Abia deepen partnership on digital transformation, investment
The United Kingdom has reaffirmed its commitment to deepening its partnership with Abia State, with British Deputy High Commissioner in Lagos, Jonny Baxter, highlighting the state’s growing reputation for entrepreneurship, innovation and economic opportunity. Baxter made the commitment at the…
FSD Africa launches finance facility to unlock capital for local investment, SGBs
FSD Africa has launched the Manager Finance Facility (MFF), a new initiative aimed at strengthening Africa’s emerging generation of alternative local capital providers (ALCPs) and unlocking more appropriate financing for small and growing businesses (SGBs) across the continent. The facility…
UK’s Trade Commissioner for Africa, Alastair Long, assumes duty
The United Kingdom’s Trade Commissioner (HMTC) for Africa, Alastair Long, has kicked off his mission, positioning at the forefront of the King’s efforts to deepen trade and investment relations between the UK and the continent. A statement made available by…
Africa’s energy gap demands $200bn annual investments
The scale of energy poverty facing the African continent calls for more than $200 billion annual investments in energy infrastructure and facilities required to strengthen energy access, resilience and petroleum development. Worse still, about 600 million Africans remain without electricity…
FG floats fiscal incentives for deepwater petroleum projects
The Federal Government has approved a new fiscal framework for petroleum investment incentives aimed at unlocking up to $50 billion in investments and reviving major deep offshore oil and gas developments that have remained stalled for years. The reform comes…
