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Uganda is in a pole position to become one of the top 50 oil-producing countries in the world in six years, according to experts.
Ghana's enthusiastic efforts to become a major oil industry player in Africa could be short lived, as the country would only mine the 'Black Gold' for just 20 years. Furthermore, data from the World Bank and International Monetary Fund have projected that Ghana could rake a total of $ 247.44million as oil revenues in 2011, which would decline to $1,550 in 2017.
Pirates suspected to come from Nigeria have attacked an oil tanker off the coast of west Africa, killing a Ukrainian seaman, the commander of Benin's naval forces says.
INFRASTRUCTURE development topped the Federal Government's agenda in Capital Expenditure of the N4.07 trillion budgetary proposal for 2010 laid separately before the Senate and the House of Representatives yesterday.
Conditions in Equatorial Guinea cast serious doubt about the credibility of the forthcoming presidential election, Human Rights Watch said today.
YOUNG Communist League (YCL) national secretary Buti Manamela says the call by its counterpart in the African National Congress (ANC) to nationalise mines only amounts to "state capitalism" and would not restore SA's mineral wealth to the people.
South Africa's economy turned around in the third quarter of 2009, registering marginal growth, the government's statistics agency reported Wednesday.
An American-Slovak investment group, Bay View, has pledged to remain firm and committed to the continued investment in Rwanda for the development of human resources and socio-economic development of the country.
The Federal Government is proposing to buy four more aircraft for the presidential fleet, according to the 2010 Appropriation Bill sent to the National Assembly yesterday by President Umaru Musa Yar'Adua.
The Islamic administration of Hizbul Islam in central Somalia has banned the business of Kat in Beledweyn town in Hiran region in central Somalia. Officials said on Wednesday.
A British high street solicitor laundered huge sums of money in bribes to Nigeria via accounts in Switzerland and France, a London court was told during an extradition hearing yesterday.
The Senate yesterday approved President Umar Yar'adua's additional supplementary budget of N353.6 billion as part of total expenditure for the 2009 fiscal year. This is apart from the initial N3. 049 trillion that was approved by the National Assembly last December for the 2009 fiscal year.
Mallam Nasir El-Rufai, the former Minister of FCT, dares tyranny for he has vowed to return home as soon as possible. Rufai who left the shore of the country last year for academic purposes declared in a letter that he will be home in December not minding the threat of an eight-count charge of criminal conspiracy and abuse of office while he was the FCT minister set against him by the Economic and ...
The Federal Government yesterday took step to link up with the global shipping communication network as the government yesterday in London, UK signed the Long Range Identification and Tracking System,(LRIT) Services Agreement with the International Mobile Satellite Organisation (IMSO).
Federal Government yesterday sought for Venezuela's investment in Nigerian's refineries as part of efforts to achieve successful deregulation in the downstream petroleum subsector.
GAUTENG roads and transport MEC Bheki Nkosi yesterday moved to quash speculation that the government was considering making additional funding available to the Bombela Consortium to complete the airport link of the Gautrain in time for the Soccer World Cup.
PARLIAMENT yesterday heard that the influx of old second-hand vehicles and the Government's decision to allow sale of second hand tyres is a contributing factor to the high number of road accidents in the country.
South Africa has emerged from its first recession in seventeen years.
The ink has dried on the EAC Common Market Protocol and now it's time for business.
The Honourable Minister of State for Finance, Mr. Remi Babalola, on Thursday advised the three tiers of government to look inwards to generate sustainable resources to meet the minimum requirements and needs of their economies, particularly the infrastructural development.
Adamawa State Government has approved the sum of over N7 billion for the execution of various projects in the state.
THE Bank of China has started negotiations with the Tanzania Investment Bank to help it develop credit line for farmers.
An Abuja High Court yesterday freed the National Coordinator of the Police Equipment Foundation (PEF), Chief Kenny Martins and two others of charges of N7.740 billion fraud brought against them by the Economic and Financial Crimes Commission (EFCC).
The Operations Manager of a first generation bank in Minna Mr Gokis Kizito was yesterday arrested over N2.7 million alleged to have been fraudulently withdrawn from the bank.
A former Nigerian Ambassador to Spain, Yusuf Mamman and three others were arraigned before the FCT High Court, Lugbe in Abuja on Monday for allegedly misappropriating N300m belonging to Aso Radio and Television.
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