Nigeria outlined a plan to overhaul state oil company NNPC and eventually list it on the stock exchange in a bid to modernize and streamline the industry.
A steady increase in African deal flow and interest from overseas investors since the financial crisis points to the increasing maturity of African countries as a destination for M&A.
While the collapse in oil prices might seem like unequivocally bad news for Nigeria’s energy industry, there is one Lagos-based executive who sees only opportunity.
Nigeria’s Seven Energy International Ltd. may seek to enter partnerships with other companies to expand gas production to meet rising demand from power plants and industries in Africa’s largest economy.
Nigerian President-elect Muhammadu Buhari’s administration will publish the full audit of the state oil company and expects it will need to repay the government more than previously recommended, his party’s policy director said.
ARM-HARITH Infrastructure Investment Ltd (ARMHIIL), a joint venture between Asset & Resource Management Company Ltd (ARM) and Harith General Partners (Pty) Ltd (Harith) of South Africa, has announced the first close of the indigenously-developed and managed ARM-Harith Infrastructure Fund (ARMHIF).
Steel-pipe manufacturing in Nigeria is set to expand on the back of a law that reserves supplies to the energy industry for local companies, the implementing agency said.
As Africa’s global business prominence continues to surge, so too does Aliko Dangote’s profile as one of the region’s most recognised entrepreneurs.