Your Excellencies, I am an African from the stony town of Nandom in the Upper West Region of Ghana and writing to you from the Green and forested State of New Hampshire in the United States of America. I am a true African. I owe my existence to the rich and diverse bio-physical environment of our continent. I owe my life to the rich cultural heritage, abundant natural and human resources of Africa. I […]
The battle for defence of the Naira value has exploded, affecting existing withdrawal limits on ATMs and foreign transactions on all existing Naira debit cards (ATM cards). In the new arrangement, all ATMs that were hitherto enabled for domestic and foreign transactions have been restructured to limit Naira cash withdrawal at ATMs to N60,000 per day while foreign currency is $300 per day. Hitherto, the domestic withdrawal limit was N150,000 per day. The […]
Determined to buoy the national gas output through its ongoing major projects, Seplat Petroleum Development Company has unveiled its plans to hit about 500 million standard cubic feet per day (mmscfd) processing capacity by 2017. Besides, the indigenous oil independent firm is projecting to earn about $18.2 million yearly from the Oben new Associated Gas compression station, which is also positioned to help achieve its zero gas flare objective by 2016.
Justice Mohammed Idris of the Federal High Court in Lagos will on September 25, hear a suit filed by mobile telecommunications giant, Etisalat Nigeria against the Nigerian Communications Commission (NCC) over alleged unhealthy competition and undue advantage given to one of its competitors, MTN Nigeria. Etisalat is requesting the court to review the decision of the NCC to grant a special waiver to MTN to offer tariffs that are contrary to the spirit and […]
Larry Page has a new job. The former Google CEO announced in a blog post Monday that he is now CEO of Alphabet, a new “collection of companies” that includes Google, Life Sciences and Calico. Sergey Brin, Page’s co-founder of Google, will become president of Alphabet, and Eric Schmidt will be its executive chairman. Alphabet is mostly a collection of companies. The largest of which, of course, is Google. This newer Google is a bit slimmed down, […]
President Muhammadu Buhari has called for an explanation from the Ministry of Finance on the foreign loans obtained for rail projects but diverted to other purposes. Tolu Jinadu Speaking at the end of a presentation on the Ministry of Transport by the Permanent Secretary, Alhaji Mohammed Bashar at the Presidential Villa, Abuja, President Buhari said that it was disappointing to find that foreign loans obtained in line with signed agreements were moved from one project to another. […]
The research and policy arm of the Tony Elumelu Foundation, the Africapitalism Institute, released a study on Africa’s entrepreneurial ecosystem. The 86-page report, titled Unleashing Africa’s Entrepreneurs, based on original research leveraging the Foundation’s pan-African network of early stage African businesses, identifies and analyses the factors inhibiting the potential of entrepreneurs across Africa. Key findings from the report include: 87 percent of respondents indicated that obtaining the necessary seed capital was their primary challenge. […]