business

African Export-Import Bank (Afreximbank) and Heirs Energies Limited have announced a landmark US$750 million financing partnership designed to optimize Heirs Energy's capital structure and unlock critical liquidity to support its working capital requirements as it pursues its ambitious field development program. The investment is expected to significantly transform Nigeria's domestic energy capacity as demand rises. This collaboration comes at a crucial time for Nigeria, a nation grappling with increased energy demands and…

U.S. Diplomatic Recall Impacts Relations with Africa Amid Trump Administration's Policies In a sweeping diplomatic maneuver, the Trump administration has recalled dozens of U.S. diplomats from posts around the world, with significant ramifications for relationships in Africa. Among the envoys affected are diplomats from 13 African nations, including key countries such as Nigeria, Uganda, and Senegal. This directive mandates that these ambassadors vacate their posts by mid-January 2026, a move that raises eyebrows amid…

U.S. Congressional Delegation Visits Nigeria, Rules Out Military Deployment A U.S. Congressional delegation that recently visited Nigeria to assess the country's security situation has ruled out the possibility of deploying American troops to the West African nation. The lawmakers stated that Nigeria's designation as a Country of Particular Concern (CPC) is aimed at encouraging diplomatic reforms rather than invoking military intervention. "It is unacceptable that anyone—Muslim or Christian—is experiencing this level of…

Nigerian Authorities Secure Release of Remaining Schoolchildren Abducted in Niger State Nigerian authorities have announced the successful release of the final 130 schoolchildren and staff abducted from St. Mary's Catholic boarding school in Papiri, Niger state, effectively bringing an end to one of the country’s most harrowing mass kidnappings. The ordeal began on November 21, when more than 250 individuals were taken during a brazen attack. Earlier this month, about 100 children had been freed, and 50 were reported to…

BEKKERSDAL, South Africa — A manhunt is under way after a mass shooting at a tavern in Bekkersdal, near Johannesburg, left nine people dead and 10 others wounded, police said Monday. Authorities said about 12 unidentified gunmen arrived in two vehicles and opened fire indiscriminately on patrons. Seven men and two women were killed at the scene, police said, while some victims were shot as they tried to flee. Another person was reported killed nearby after dropping off a passenger. Police described the attackers as…

The Excitement Builds as AFCON 2023 Kicks Off in Morocco As teams begin to arrive in Morocco for the 35th edition of the Africa Cup of Nations (AFCON), anticipation is reaching a fever pitch. The tournament, which kicks off this weekend, will see the hosts take on Comoros in a highly anticipated opening match that promises to set the tone for a month filled with thrilling football. A Month of Football Rivalries This year’s AFCON features 24 nations, divided into six gripping groups, each showcasing intense rivalries that…

Ghana Seeks Extradition of Former Finance Minister Ken Ofori-Atta The Ghanaian government has formally transmitted an extradition request to the United States Department of Justice for former Finance Minister Ken Ofori-Atta. This development marks a significant chapter in the country's ongoing anti-corruption efforts, reflecting a renewed focus on accountability in public office. Dr. Dominic Akuritinga Ayine, Ghana's Attorney General and Minister for Justice, announced that the request follows an intensive investigation…

Unity Schools Reopen Amid Enhanced Security Measures The government has announced the reopening of 47 unity schools that were closed in November following a surge in school abductions. With the implementation of strengthened security measures around affected campuses, academic activities have fully resumed. In a recent statement, the Ministry of Education explained that the closures had been prompted by mass abductions in Kebbi and Niger states. Notably, at least 25 schoolgirls were kidnapped from a school in Kebbi, while…

Trial of Capitol Fire Accused Questions U.S. Experts' Findings A team of U.S. fire experts may return to the stand as the trial intensifies over the blaze that severely damaged parts of the Capitol Building, the heart of the Liberian Legislature, on December 18, 2024. During Tuesday's hearing, sharp divisions emerged between the prosecution and defense regarding the interpretation of the investigation findings. This discord prompted the judge to approve the request for the three retired U.S. fire chiefs to testify. The…

In a significant shakeup within Nigeria's petroleum regulatory landscape, President Bola Tinubu has replaced the heads of two pivotal agencies following the resignation of their chief executives. The changes affect the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), marking a notable turn in the country’s oil and gas governance. The resignations of Farouk Ahmed, head of NMDPRA, and Gbenga Komolafe, head of NUPRC, come in the wake…