Africa Business News

Toyota Nigeria Limited has announced plans to roll out three electric vehicles in the country in the next three years as part of its support for the government’s green deal initiative. Managing Director of TNL, Mr. Kunle Ade-Ojo says the end of this year, they will be introducing the first hybrid electric vehicle, the Toyota Cross, the RAV4 hybrid and late next year or early 2026 the Land Cruiser Prado hybrid. He also says TNL would be lending its big network of workshops to support the Federal Government’s campaign for the use of Compressed Natural Gas-powered vehicles through conversion.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Nigerian Upstream Petroleum Regulatory Commission has removed five oil blocks from the ongoing licensing round due to legal disputes as investors begin registration for the 2024 Licensing Round. The five oil blocks are said to be under various litigation. The Nigerian Upstream Petroleum Regulatory Commission confirmed the development. The affected assets are PPL3008, PPL3009, PML51, PPL267, and PPL268. The five blocks were among the 12 initially announced by the NUPRC Chief Executive, Gbenga Komolafe, at the Miami International Roadshow for the 2024 licensing round hosted by the NUPRC in collaboration with the Petroleum Technology Association of Nigeria and Zetse Advisory & Consulting.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Lagos State says it is receiving additional support from the World Health Organisation, as it now battles an outbreak of Cholera at the Kirikiri prison. The Lagos State Commissioner for Health, Professor Akin Abayomi, says an outbreak of 25 cases of severe gastroenteritis caused by Cholera occurred at Kirikiri Medium Security Prison, adding that urgent medical and environmental intervention measures have been implemented with success. Abayomi revealed that although no new cholera-related deaths have been reported in the last 72 hours, the government was intensifying countermeasures to eliminate transmission. Professor Abayomi noted that residents are adhering to public health information and advice on safety measures and the need for early presentation to health facilities when symptoms develop.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

President Bola Tinubu has condemned the suicide bomb blast in Borno State, describing it as a desperate act of terror. 18 people were killed when four suicide bombers set off improvised explosive devices (IEDs) in Gwoza, the North-Eastern state. Presidential spokesman, Ajuri Ngelale, conveyed the President’s condolence message. President Tinubu describes the attacks as desperate acts of terror and a clear manifestation of the pressure mounted against terrorists and the success achieved in degrading their capacity to launch offensives. The Commander-in-Chief maintained that his administration is taking necessary measures to secure citizens, stressing that efforts will be redoubled to ensure that those who trouble the nation, dispatching precious lives, and disrupting law and order are completely removed

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The risk of soaring Chinese electric car prices in the EU could be easing after both sides agreed to negotiate a planned series of import taxes. Top officials from both regions spoke about the tariffs on a call and agreed to discuss them further, though frictions remain. The EU says Chinese EVs were unfairly subsidised by its government. In response, China accused the EU of protectionism and trade rule breaches. They said the two sides would continue to engage at all levels in the coming weeks. They said any negotiated outcome to the proposed tariffs must address the injurious subsidisation of Chinese EVs.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Kenya’s government has scrapped some proposed taxes in this year's controversial finance bill, including a 16% levy on bread, after a public outcry, The announcement by MPs came as police fired tear gas and used water cannons to try to disperse angry protesters in the capital, Nairobi. Dozens of people have been arrested, and lawyers earlier joined chanting crowds at the city's main police station to demand that detainees be freed. Kuria Kimani, chairman of the parliamentary finance committee, announced the U-turn over the new finance bill at a press briefing attended by President Ruto and other lawmakers in the ruling coalition.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

A South African lawmaker has been suspended by his party, the Democratic Alliance after a series of old clips resurfaced online of him spewing violent racist language against black people. Renaldo Gouws initially insinuated one of the videos was doctored and denied it but a statement issued by the DA says it was genuine and not a fake. In the video, Mr Gouws, who was sworn into parliament last week, uses a local slur typically reserved for Black Africans repeatedly along with the n-word, and calls for black people to be killed. The centre-right DA the country's second-biggest party, has faced accusations of racism from critics who say the party wants to protect the interests of the white-minority population - a charge it denies.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

President Bola Tinubu has directed that all civil servants drawing salaries from the government after relocating abroad should be made to refund the money. The President also directed that the supervisors and department heads of the culprits must also be punished for aiding and abetting the fraud under their watch. He reiterated that the government would take appropriate measures to ensure they were punished and the money refunded to the government treasury.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Nigerian Air Force says that its airstrikes destroyed 13 illegal oil refining sites and seven boats in Rivers, Bayelsa and Imo states. NAF spokesman Edward Gabkwet says between June 18 and 22, 2024, its Air Component of Operation Delta Safe destroyed the illegal refining sites, seven Cotonou boats as well as dispersed five buses attempting to siphon suspected crude oil products from surface tanks. He says airstrikes against economic saboteurs and oil thieves would be sustained until the activities of the criminals are reduced to the barest minimum.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Nigerian National Petroleum Company Limited , has shifted the delivery date for the $700m Obiafu-Obrikom-Oben gas pipeline project from March 2024 to August. The Minister for Petroleum Resources for States Resources (Gas), Ekperikpe Ekpo, says the project would now be completed and commissioned latest by August. The NNPCL says the River Niger Crossing operation has been the major impediment to the completion of the strategic OB3 Gas Pipeline for over three years, due to failure of the various technologies deployed to achieve the construction of the 48-inch pipe under the river bed between Ndoni in Rivers State and Aboh in Delta State.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.