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"Nigeria, officially the Federal Republic of Nigeria, is a country in West Africa. It is the most populous country in Africa. It is geographically situated between the Sahel to the north and the Gulf of Guinea to the south in the Atlantic Ocean. It covers an area of 923 769 square kilometers (356,669 square miles), with a population of over 211 million Nigeria is bordered by Niger to the north, Chad to the northeast, Cameroon to the east, and Benin to the west Nigeria is a federal republic comprising 36 states and the Territory from the Federal Capital, where the capital Abuja is located. Nigeria's largest city is Lagos, one of the largest metropolitan areas in the world and the second largest in Africa.
Nigeria has been home to several pre-colonial indigenous states and kingdoms since the 2nd millennium BCE. C., with the Nok civilization in the fifteenth century BC. C. marking the first internal unification in the country. The modern state originated with British colonization in the 19th century and took its current territorial form with the amalgamation of the Southern Nigeria Protectorate and the Northern Nigeria Protectorate in 1914 by Lord Lugard. The British established administrative and legal structures while practicing indirect rule through traditional chiefdoms in the Nigerian region. Nigeria became a formally independent federation on October 1, 1960. It experienced a civil war from 1967 to 1970, followed by a succession of democratically elected civilian governments and military dictatorships, until achieving stable democracy in the 1999 presidential election; The 2015 election was the first time that a sitting president had lost re-election.
Nigeria is a multinational state inhabited by more than 250 ethnic groups speaking 500 different languages, all identifying with a wide variety of cultures. The three largest ethnic groups are the Hausa in the north, the Yoruba in the west, and the Igbo in the east, who together comprise more than 60% of the total population. The official language is English, chosen to facilitate linguistic unity at the national level. Nigeria's constitution guarantees freedom of religion and is home to some of the largest Muslim and Christian populations in the world, simultaneously. Nigeria is divided roughly down the middle between Muslims, who live mainly in the north, and Christians, who live mainly in the south; indigenous religions, such as those originating from the Igbo and Yoruba ethnic groups, are a minority.
Nigeria is a regional power in Africa, a middle power in international affairs, and is an emerging global power. Nigeria's economy is the largest in Africa, the 25th largest in the world by nominal GDP and the 25th largest by PPP. Nigeria is often referred to as the Giant of Africa due to its large population and economy, and is considered an emerging market by the World Bank. However, the country ranks very low on the Human Development Index and remains one of the most corrupt nations in the world. Nigeria is a founding member of the African Union and a member of many international organizations, including the United Nations, the Commonwealth of Nations, NAM, the Economic Community of West African States, and OPEC. It is also a member of the informal MINT group of countries and is one of the Next Eleven economies.
Newspapers published in Nigeria have a strong tradition of the "publish and be convicted" principle dating back to the colonial era when the founding fathers of the Nigerian press such as Nnamdi Azikiwe, Ernest Ikoli, Obafemi Awolowo and Lateef Jakande used their newspapers to fight for independence
Until the 1990s, most publications were owned by the government, but private newspapers such as the Daily Trust, Nigerian Tribune, The Punch, Vanguard and The Guardian continued to expose public and private scandals despite government attempts. to suppress them.
Laws related to the media, including newspapers, are scattered across various pieces of legislation. There are few good sources for discussion and analysis of these laws.
Some newspapers rely heavily on ads that can be placed by companies owned by powerful people. In some cases, this makes newspapers wary of reporting details of crimes or suspected crimes, and sometimes publish articles that clearly paint corrupt individuals in a favorable light. An analysis of newspapers shows a strong bias towards coverage by men, reflecting prevailing cultural biases. Few articles talk about women and there are few photographs of women outside of the fashion sections. Although profits have declined since the late 1980s, the number of publications has grown steadily. As of 2008 there were over 100 national, regional or local newspapers.
Online newspapers have become popular since the rise of internet accessibility in Nigeria; more than ten percent of the top fifty websites in the country are dedicated to online newspapers. Due to the improvement in mobile penetration and the growth of smartphones, Nigerians have started to rely on the internet for news. Online newspapers have also been able to circumvent government restrictions because content can be shared without the need for any physical infrastructure. The result has been a disruption of the traditional sources of news that have dominated the media industry. Recent online newspapers include Sahara Reporters, Ripples Nigeria and Premium Times." CREDIT: WIKIPEDIA
There are several newspapers in Nigeria such as Talkoon News, Lagos Mirror Daily Times, Star Naija, Tv (StarNT Nigeria), Sky News, Nigeria Tribune, Global Times Nigeria, Observer, Punch, The Tide, Nigeria Standard, Triumph, The Guardian, National Post, Naija News, Newswatch, Tell Magazine, TheNEWS magazine, PM News, This Day, Investors King, Complete Sports, Daily Trust, TheSun, Independent Nigeria, National Network, Next Leadership, Business Day, National Mirror, Nation, Uhuru Times, Peoples Daily, Newsdiary online, Netng, TheCable, Premium Times, Blueprint Newspaper, Opinion Nigeria, Entertainment Express, Daylight Nigeria, New Telegraph, The Authority, Ripples Nigeria, Stears Business, Politics Nigeria, Daily Nigerian, The Periscope News, Sahara Reporters, News Round The Clock, The Informant247, Business Hallmark, Daily Champion, Daily Post Daily Star, Nigeria CommunicationsWeek, National Network (newspaper), New Nigerian, Nigerian Compass, Urhobo Vanguard, Thinkers Newspaper, National Mi rror, The News Journal, TheWill Newspaper, The ICIR, among others.
News Agency of Nigeria (NAN) is a news agency owned and run by the Federal Government of Nigeria, as is the Nigerian Television Authority. NAN was formed partly to easily spread news across the country and to the international community and also as a means to counter negative stories about Nigeria. On May 10, 1976, a decree establishing the agency was issued, but its operations began two years later. . In March 1978, a board of directors was inaugurated, and pilot news operations began on October 2, 1978. The NAN provides the General News Service to subscribers in three bulletins that are published daily. The agency's website www.nannews.ng (formerly www.nan.ng) was launched on August 8, 2016 to provide news to the global audience primarily interested in news about Nigeria, the most populous country in Africa. The agency has a network of reporters that cover all the states of the federation proving to be a valuable source of reports published by regional and national newspapers that lack national coverage.
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Credit: https://nnn.ng/nice-vs-lens-chronicle-of-the-football-match-december-29-2022-3/- The American Petroleum Institute (API) on Tuesday reported a 7.85 million barrel decline in crude oil in US inventories for the week ending November 25.
Analysts expected a drop of 2.487 million barrels for this week.
The API reported a drop of 4.819 million barrels in the previous week.
Oil prices closed mixed on Tuesday as market participants awaited a key meeting of major producers.
West Texas Intermediate for January delivery rose 96 cents, or 1.24 percent, to settle at 78.2 US dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery fell 16 cents, or 0.19 percent, to settle at $83.03 a barrel on the London ICE Futures Exchange.
The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, will meet on December 4. In October, the oil alliance agreed to cut its production target by 2 million barrels a day from November to prop up prices.
Oil prices have been under pressure recently amid concerns about declining demand as the global economy slows. ■
- The American Petroleum Institute (API) on Tuesday reported a 7.85 million barrel decline in crude oil in US inventories for the week ending November 25.
Analysts expected a drop of 2.487 million barrels for this week.
The API reported a drop of 4.819 million barrels in the previous week.
Oil prices closed mixed on Tuesday as market participants awaited a key meeting of major producers.
West Texas Intermediate for January delivery rose 96 cents, or 1.24 percent, to settle at 78.2 US dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery fell 16 cents, or 0.19 percent, to settle at $83.03 a barrel on the London ICE Futures Exchange.
The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, will meet on December 4. In October, the oil alliance agreed to cut its production target by 2 million barrels a day from November to prop up prices.
Oil prices have been under pressure recently amid concerns about declining demand as the global economy slows. ■
- Oil prices closed mixed on Tuesday as market participants awaited a key meeting of major producers.
West Texas Intermediate for January delivery rose 96 cents, or 1.24 percent, to settle at 78.2 US dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery fell 16 cents, or 0.19 percent, to settle at $83.03 a barrel on the London ICE Futures Exchange.
The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, will meet on December 4. In October, the oil alliance agreed to cut its production target by 2 million barrels a day from November to prop up prices.
Traders were also awaiting data on US fuel stockpiles as the Energy Information Administration releases its weekly state of oil report on Wednesday.
Oil prices have been under pressure recently amid concerns about declining demand as the global economy slows.
UBS analysts said "downward pressure on oil from a weaker global economy should be offset by lower global supply."
"We maintain a preference for both energy stocks and crude oil itself, both of which should benefit from tightening crude supply dynamics in early 2023," they said in a note Tuesday, adding "the ban European Union to import Russian oil, the end of strategic sales of oil inventories in OECD countries, and the switch from gas to oil should all be factors that support prices". ■
Following thought-provoking messages and welcoming addresses from both private and public sector leaders, the third edition of the Angola Oil & Gas (AOG) conference and exhibition (https://bit.ly/3VCWonI) – taking place this week in Luanda from November 29-December 1 – kicked off discussions with an opening ministerial panel.
The discussion explored the topic ‘The Right and Will to Develop: How to harness the resources of Angola and the region for an energy rich future’.
The speakers included H.E. Haitham Al Ghais, Secretary General, the Organization of Petroleum Exporting Countries (OPEC); H.E. Diamantino Azevedo, Minister of Mineral Resources, Petroleum and Gas, Angola; H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons, Equatorial Guinea; H.E. Didier Budimbu Ntubuanga, Minister of Hydrocarbons, Democratic Republic of Congo (DRC); Hon. Tom Alweendo, Minister of Mines and Energy, Namibia; Foday Mansaray, Director General, Petroleum Directorate of Sierra Leone; and H.E. Cheikh Niane, Vice President of the Ministry of Petroleum and Energies, Senegal.
The session was moderated by NJ Ayuk, Executive Chairman of the African Energy Chamber.
Kicking off discussions, H.E. Minister Azevedo provided insight into the country’s agenda, stating that “We have the objective of maintaining stability.
Our strategy is to reduce production decline and maintain stability as far as oil production goes.
Additionally, we would want to increase our refinery and storage capacity in order to reduce the imports so as to meet the domestic needs and to export oil derivatives.
That is our key strategy.”
Providing insight into the Memorandum of Understanding (MoU) signed with Angola, Hon. Minister Alweendo stated that, “The MoU we have signed has to do with the fact that not long ago, we announced that we made an oil discovery.
We are the new kids on the block.
We need to learn from those who have gone before us.
There was no better country to learn from than Angola.”
Mansaray also provided insight into Sierra Leone’s MoU signed with Angola, stating that “We are focused on African content.
This signing today further strengthens our collaboration with Angola.
The signing fosters our relationship with Angola so that we can learn the lessons that they have learnt in the past.
We are gearing up for production.
One of the companies who are exploring from the last licensing round are expecting 8.2 tcf of gas.
We are a small country with new oil and gas and big ambitions.”
Following on from these remarks, H.E. Al Ghais shared insight into the upcoming OPEC meeting’s agenda, stating that, “We will be going over all the market fundamentals and reviewing everything from a purely technical perspective.
We are seeing high inflation and monetary policies taking place, high sovereign debt levels, supply chain issues, and yet we still see global economic growth at 2% – however, this might be revised.
We do not look at oil prices.
We sit down with a method, with various bodies within OPEC sitting for two days going over all the economic fundamental parameters, supply and demand outlook and challenges and come up with a formulation of how the market will look like.”
Meanwhile, the conversation shifted to outcomes of the COP27 summit held in Egypt earlier this month, with much of the consensus being that in order to stimulate economic growth, industrialize nations and address energy poverty, the continent needs to prioritize oil and gas development.
“The two problems our continent has is energy poverty and energy security.
Until these challenges are solved, we cannot talk about the transition.
We need to start bringing solutions.
For energy poverty, we need to increase capacity and generation.
We need to increase supply and it needs to come from everything: oil, gas, hydrogen and more.
Secondly, regarding energy security, we need to secure and control our resources,” stated H.E. Minister Lima.
Finally, adding to these remarks the respective ministers of the DRC and Senegal provided insight into efforts being done to maximize resources.
“We have launched a public tender.
We do not have energy and need to start exploring what we have.
It is not acceptable having our citizens dying without energy.
We want to start drilling and developing our country.
To have an energy transition you need to have energy in the first place.
So, we have launched 30 blocks and a few companies will release their outcome in the next two weeks,” stated H.E. Minister Ntubuanga.
Adding to this, H.E. Niane stated that, “We are expecting first oil and gas in 2023.
We are planning for Greater Tortue Ahmeyim which we are sharing with Mauritania to export up to 2.5 million tons per annum (mtpa).
We are also working on FID for next year for the second phase of the project because we want to increase it to 10 mtpa.
Our President, H.E. Macky Sall, stated that Senegal will continue to drill and use our hydrocarbon resources.
Developed countries need to decarbonize while developing countries industrialize and we are working on this.”
Under the theme, ‘Promoting an Inclusive, Attractive and Innovative Oil and Gas Industry in Angola’, the third edition of the Angola Oil & Gas (AOG) 2022 Conference and Exhibition (https://bit.ly/3EJTwi5) officially kicked off with opening messages delivered by the conference’s Guest of Honor, H.E. João Lourenço, President of the Republic of Angola; as well as the country’s Minister of Mineral Resources, Petroleum and Gas, H.E. Diamantino Azevedo; and a suite of high-level African energy leaders including H.E. Haitham Al Ghais, Secretary General for OPEC; Sergio Pugliese, Angolan President for the African Energy Chamber (AEC); and the AEC’s Executive Chairman, NJ Ayuk.
“This Angola Oil and Gas 2022 Conference is of great importance and is taking place at a moment when geopolitical cooperation is imperative towards promoting the development of oil and gas in Africa,” stated H.E. President Lourenço, adding that, “Angola has always aspired to become a leading supplier of oil and gas to the global market while striving towards alleviating energy poverty in Africa.
In this regard, efforts are being made primarily for the growth of oil and gas activity in tandem with the development of existing resources.
The Angolan Government has defined and has already implemented a program of improvement and distribution that will increase oil storage capacity throughout all capital and regional municipalities throughout the country.”
Renowned for his extensive experience on the international oil and gas stage, the newly appointed Secretary General for OPEC, H.E. Haitham Al Ghais, delivered a keynote speech during which he supported the exploitation of Angola’s natural resources while indicating that the organization will continue to help the country better guide its oil and gas market.
“Over the past five years, President Lourenço has implemented a number of reforms throughout the oil sector that will serve to attract more investment across the country.
We welcome the permanent cooperation among OPEC member states and the establishment of OPEC+.
The cooperation between our members proves the courage of OPEC to the world and that the stability of oil markets in the world depends on multilateral cooperation and a united effort by all crude oil producers worldwide,” stated H.E. Al Ghais, concluding that, “OPEC will continue to count on the contribution by Angola, and the Secretary General will always be at Angola’s disposal for all the support that one of Africa’s most important oil producers might need.”
Additionally, the opening ceremony was attended by H.E. Minister Diamantino, who offered an update on the current state of Angola’s oil and gas industry while identifying the Government’s efforts towards diversifying the country’s energy portfolio and the proactive role that the Ministry is playing in strengthening partnerships with the private sector to advance the energy industry.
“It’s a great honor for me to offer a warm welcome to this international conference which will serve to connect us for the next two days,” stated H.E. Minister Azevedo, adding, “After the two previous editions, the success was immediately and expressly recognized.
This conference will certainly offer solutions to the opportunities and challenges that the oil and gas industry in Angola and Africa will face and we can continue to make efforts to ensure that the oil and gas industry in the country offers the most opportunities for the people of Angola.”
Highlighting the need for African unity, the importance of strong partnerships across the continent, and the call for a just energy transition that will bring energy wealth to Africa through the production of its resources, NJ Ayuk delivered a welcome address with messages of identifying investment opportunities within the entire energy value chain and advancing Angola’s oil and gas industry to bring socioeconomic development to the southern African country.
“We believe it is time for us not to back down on fossil fuels.
As we move forward, we have to embrace the future,” Ayuk stated, adding, “We are the future, and we should be proud of what we do.
The next three days are going to feature the most amazing discussions about driving this industry forward as Africa has a big role to place and Angola has a big role to play.
If we drive this industry forward, Angola will thrive.”
Finally, concluding the conference’s opening ceremony as an official guest of honor, Angola’s President, H.E. João Lourenço, expressed the Government’s commitment towards revamping the national energy sector, driving a wave of upstream investment, and transforming the market into a hub for the world’s largest major energy companies, which will enable Angola to realize its potential and harness its vast hydrocarbon resources to drive energy security and boost socioeconomic development.
“Angola is open to national and foreign investment by proposing fair contractual terms and investment in order to take full advantage of the development of our oil resources and the development of renewable energy technologies to ensure the socioeconomic development of Angola as well as the return of investments made,” concluded H.E. President Lourenço.
Gunmen have killed three police escorts and abducted a local oil executive in southern Nigeria’s petroleum-producing Niger delta, police said Friday, in the latest violence to hit the restive region.
Dressed in military uniform, the gunmen ambushed and opened fire on the convoy of two vehicles transporting the policemen and the senior oil executive on Thursday in the Rumuokoro area of Port Harcourt, the capital of Rivers State.
“Three policemen escorting the oil executive were killed while the man was abducted and taken to an unknown destination,” state police spokeswoman Grace Iringe-Koko told AFP.
The attackers posing as a military patrol in a green minivan called for the convoy to stop before opening fire, she said.
Police said the kidnapped victim was a director of Port Harcourt-based oil and gas service and maintenance company IGPES Group.
The company did not immediately respond to a request for comment.
Investigations are underway and police are searching for the attackers, Iringe-Koko said.
Police could not immediately disclose a motive for the attack and no group has claimed responsibility.
Kidnapping for ransom is a huge security problem in Nigeria, targeting both wealthy businesspeople as well as poor farmers who are often snatched in mass abductions in the north.
The Niger Delta is home to Nigeria’s multi-billion-dollar oil and gas resources, but residents of the region live in poverty due to decades of oil exploration, neglect and pollution.
In the 2000s, the region was wracked by militant attacks on oil facilities and the kidnapping of local and expatriate oil workers, slashing Nigeria’s oil output and hurting government revenue.
A 2009 government-backed amnesty programme for the oil rebels has helped reduce attacks but sporadic incidents including large-scale oil theft persist in the region.
Nigeria, a member of OPEC and one of Africa’s largest crude producers, is estimated to be losing as much as $2 billion to oil theft and pipeline sabotage in the region every year.
Regional energy ministers to discuss current and future trends across the African oil and gas sector in a high-level ministerial panel at AOG 2022.
Under the theme, ‘Promoting an Inclusive, Attractive and Innovative Oil and Gas Industry in Angola’, the 2022 edition of the Angola Oil & Gas (AOG) conference and exhibition (https://bit.ly/3F0uYmc) – Angola’s premier event for energy policymakers, companies and investors from across the regional and global landscape, which will run from November 29 – December 01 in Luanda – will host a Ministerial Panel where regional energy ministers will discuss how both Angola and the African continent at large can harness its vast oil and gas resources for an energy secure future.
Featuring H.E. Diamantino Azevedo, Minister of Mineral Resources, Petroleum and Gas, Angola; H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons, Equatorial Guinea; H.E. Didier Budimbu Ntubuanga, Minister of Hydrocarbons, Democratic Republic of Congo; Hon. Tom Alweendo, Minister of Mines and Energy, Namibia; H.E. Haitham Al Ghais, Secretary General, OPEC; Cheikh Niane, Secretary General of the Ministry of Petroleum and Energies, Senegal; and Foday Mansaray, Director General, Petroleum Directorate of Sierra Leone, AOG 2022’s Ministerial Panel will discuss the right and will to develop the continent’s hydrocarbon (https://bit.ly/3GJum62) resources in pursuit of improved energy access and socioeconomic growth.
For Angola (https://bit.ly/3EzutOS), maximizing the country’s oil and gas resources could not come at a more critical time.
While the country continues to face price hikes, supply constraints and inadequate investment, proven reserves of over 8.5 billion barrels of oil and 11 trillion cubic feet lay the foundation for robust economic growth on the back of hydrocarbon development.
Meanwhile, for Africa, with energy poverty remaining a key challenge, investing in Angolan oil and gas could bring the supplies needed to kickstart industrialization and electrification continent-wide.
Recognizing the role the country’s resources play, Angola has implemented a series of efforts aimed at reforming energy policies and fiscal terms to attract investment and drive energy sector growth.
As such, the country is more attractive than ever, offering lucrative opportunities for project developers and financiers alike.
Stepping into this picture, AOG 2022’s Ministerial Panel will not only feature high-level discussions on resource maximization and monetization but will kickstart the numerous discussions that will take place over the course of the three-day event.
As the official platform where Angola’s entire hydrocarbon ecosystem is explored, AOG 2022 presents the ideal platform for African energy ministers to promote investment opportunities (https://bit.ly/3gv0KOU) across the entire value chain while engaging with a host of global investors and players.
- The American Petroleum Institute (API) on Tuesday reported a 4.8 million-barrel decline in crude oil in US inventories for the week ending November 18.
Analysts had expected a drop of 2.2 million barrels for this week.
The API reported a drop of 5.835 million barrels in the previous week.
Oil prices rose on Tuesday as market participants weighed supplies from major producers.
West Texas Intermediate for January delivery rose 91 cents, or 1.1 percent, to settle at 80.95 US dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery rose 91 cents, or 1 percent, to settle at $88.36 a barrel on the London ICE Futures exchange.
The above market reactions came after key members of the Organization of the Petroleum Exporting Countries (OPEC) such as Saudi Arabia, the United Arab Emirates and Kuwait stressed that the alliance aims for stability in the oil market, denying the reports that there have been discussions to increase oil production at the next OPEC+ meeting.
OPEC and its allies, collectively known as OPEC+, decided during a recent ministerial meeting to cut production by 2 million barrels per day starting in November.
The API figure shows how much oil and product is in storage, giving an overview of US oil demand. If the build in crude inventories is higher than expected, it implies weaker demand and is bearish for crude oil prices. ■
Saudi Arabia's Energy Minister Abdulaziz bin Salman on Monday denied media reports that his country is considering an increase in oil production.
"The current cut of 2 million barrels per day by OPEC+ continues until the end of 2023 and if further action is necessary by reducing production to balance supply and demand, we will always be ready to intervene," the minister quoted. the Saudi Press Agency (SPA) as saying.
He refuted reports that the kingdom is discussing with other producers under the Organization of the Petroleum Exporting Countries (OPEC) about raising output by 500,000 barrels per day, the SPA report said.
OPEC's 13 members and their 10 non-member allies, collectively known as OPEC+, have not discussed any decisions ahead of their meetings, the minister noted.
The next OPEC+ meeting is expected to be held on December 4.
On September 5, OPEC+ agreed to modestly cut oil production by 100,000 barrels per day, reversing the increase they approved a month ago and showing the group's determination to defend a price level of around US$100 per barrel.
In September, the Saudi minister said the reason for the production cut was to maintain market stability. ■
