Nigerian president approves oil reform to unlock $50B investment
President Bola Ahmed Tinubu has approved a transformative investment framework designed to unlock $50 billion in deep offshore oil developments. This bold economic reform sweeps away old negotiation hurdles, replacing them with a clear, rule-based standard for deepwater energy projects. By providing regulatory certainty, Nigeria aims to revive major offshore ventures long delayed by legal and commercial uncertainty. The Nigerian National Petroleum Company Limited will now amend eligible production sharing contracts to swiftly implement the new framework. Special Adviser Olu Verheijen highlighted that the strategic policy deliberately strengthens local industrial capability within the offshore sector. The government seeks to position the nation as a highly competitive global destination for crucial international energy investments. As Nigeria works to elevate crude oil production, this initiative anchors both economic resilience and domestic capacity building.
Kenya, IMF to discuss new lending programme
Kenya expects IMF visit as talks on new support programme advance
Nigeria considers oil supply reforms to support domestic refiners
Nigeria is considering reforms to its crude oil allocation and pricing rules to reduce feedstock costs and improve supply access for domestic refiners like the Dangote Refinery.
Economic hardship drives young Libyans to migrate overseas
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Somalia cabinet approves landmark bill to certify domestic goods
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Tunisia leads Morocco among French travellers despite booking dip
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Nigeria targets $50 billion investment for offshore expansion
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Ghana inflation eases to 4.6% in July
Ghana records first inflation decline since March
Kenya private sector growth expands in July despite inflation
Inflation and bottlenecks limited Kenya private sector growth after July PMI reached 51.3.
Uganda to spend 3.6 trillion shillings expanding national airline
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Ghana’s real housing crisis goes beyond simple numbers
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Madagascar starts a $28 million flyover to cut traffic in capital
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AAIN and AfDB launch new business training program in Burundi
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India and Rwanda launch first joint trade committee in New Delhi
The inaugural India Rwanda trade meeting establishes a permanent framework for economic growth.
Elektros promotes its hard rock lithium initiatives in Sierra Leone
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Corporate tax collections boost South African revenue growth
Goldman Sachs expects Moody’s and S&P to upgrade South Africa credit ratings over the next year.
Kenya loses $712 million to digital piracy annually
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New Mozambican power plant will create about 7,000 local jobs
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Tanzania attracts $1.14 billion in new quarterly investments
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Ethiopian Airlines hits record $9.1 billion in revenue
Ethiopian Airlines reports a massive twenty percent revenue surge despite tough global challenges.
US backs Madagascar mineral mine to challenge China control
Washington funds Madagascar critical minerals mining to challenge Chinese dominance in the sector.
S&P Global buys a majority stake in Nigerian agency Agusto & Co
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South African tribunal clears Equinix project amid green concerns
Activist groups protest Cape Town approval of major Equinix data center development project.
Angola adopts the kwanza for southern African trade transactions
The southern African cross border payment network includes the kwanza to improve trade integration.
AfDB approves huge loan for Morocco battery plant
China Gotion High-Tech leads a massive green technology manufacturing project in Morocco.
Madagascar launches a pilot for 5.5G to boost digital growth
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Italian Saipem lands major offshore contract in West Africa
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