Africa Business News

Nigeria has signed an offshore oil deal with Shell, Exxon, Total and Eni, that the state says will generate millions, settle disputes and open the way to a $10 billion investment.The Execution of Oil Mining Lease 118 Agreements was signed Tuesday by the local subsidiaries of the four oil majors and the Nigerian National Petroleum Corporation.NNPC head Mele Kyari says the agreement also brings immediate income for the government in the excess of $780 million and an opportunity to resolve a $9 billion which he did not specify.Kyari says that he hoped the agreement would be an opportunity for investors to see that this country is open for business.

Attorney General of the Federation and Minister of Justice, Abubakar Malami has denied allegations suggesting that N2 billion was paid to his office from the recovered funds.The Minister noted that it was on the basis of the application of the said funds in line with the agreements that Nigeria earns a reputation among the international committee of nations which translated into further recoveries.He said the Federal Government has a designated account at the Central Bank of Nigeria for all recovered assets, adding that neither he as a person nor as Attorney General of the Federation and Minister of Justice, has in any way received any funds from the recovered assets.

President Muhammadu Buhari has appointed Major-General Farouk Yahaya as the new Chief of Army Staff.A statement signed and released by military spokesperson Brigadier-General Onyema Nwachukwu.The statement says Major-General Yahaya was the General Officer Commanding 1 Division of the Nigerian Army and the incumbent Theatre Commander of the Counterterrorism, Counter-Insurgency military outfit in the North East code-named Operation HADIN KAI.President Buhari had described the late officers as heroes who paid the ultimate price for peace and security in the land.

EU leaders welcomed the introduction of a bloc-wide COVID-19 pass that they hope will unlock a tourist surge this summer. The 27 member states want the EU Digital Covid Certificate, to be launched July 1, to turn the page on coronavirus restrictions that have crimped Europeans’ cherished freedom of movement.European Commission chief Ursula von der Leyen told a media conference after the summit that more than 300 million Covid-19 vaccine doses will have been delivered by the end of this week, rising to 400 million next month.

The UK government has warned of the risk of famine within months in Tigray, northern Ethiopia, calling the situation catastrophic.Special envoy on famine prevention, Nick Dyer, made the assessment during a visit to the region, which is being devastated by conflict.Mr Dyer says atrocities were continuing, citing harrowing reports of killings and rapes.He described the destruction of farm tools, seeds, and indeed of whole villages. Mr Dyer warned that ill health was as much a threat to people as starvation.Troops from neighbouring Eritrea are still fighting in the region – having been invited in by Ethiopia to help their army defeat a rebellion by local Tigrayan forces, which are now labelled terrorists by the Ethiopian authorities.

The corruption trial of the former South African President Jacob Zuma is due to begin on Wednesday, following multiple delays.The once-celebrated hero of the anti-Apartheid struggle is expected to plead not guilty to charges of fraud and racketeering in a case that dates back to an arms deal in the 1990s.He claims he's the victim of a political witch hunt - that the nation’s courts are working for his political enemies.Mr Zuma is also facing fresh allegations of corruption and could be imprisoned for contempt of court in a separate matter.

Kenya will receive 72,000 Covid-19 vaccines from the Covax facility this week.The vaccines were re-distributed from South Sudan after the country’s health officials say they could not use the jabs before their expiry date.South Sudan received 132,000 Astra Zeneca doses from Covax in late March.The country’s Health Minister Mayen Machout told journalists that they were not able to use all the doses because of delays by parliament to approve the use of the vaccine.AFP news agency reports that South Sudan will be left with 52,000 doses that it hopes to use before they expire on 18 July.

The Chief of Air Staff, Air Marshal Oladayo Amao, has constituted a committee to conduct a safety audit of all Nigerian Air Force operational and engineering units.A statement on Tuesday by NAF Director of Public Relations and Information, Air Commodore Edward Gabkwet, revealed that the committee comprised serving and retired senior officers of the force.The committee is to analyse safety reports from operational and engineering units, conduct safety evaluation of NAF units, and recommend measures to enhance the safety of operations in the units.It was also mandated to interact with unit operational and technical personnel for views, observations, and contributions on safety measures.

The Federal Government has begun to administer the second dose of the Oxford-AstraZeneca COVID-19 vaccine to eligible persons in the country.Executive Director of the National Primary Health Care Development Agency, Dr Faisal Shuaib, says a total of 4,683 people have taken the second jabShuaib noted that the agency has almost completed administering all first doses as of Monday.He advised that all Nigerians who have received their first dose should check their vaccination cards for the date of their second dose, and ensure that they receive the second dose to gain full protection against COVID-19.

The Federal Government says it is taking significant precautions to protect Nigerians against B.1.617.2, also known as the Indian variant of coronavirus.Dr Faisal Shuaib, the Executive Director of the National Primary Health Care Development Agency says Flights from India and other high-risk countries such as Turkey and Brazil have been barred from entering Nigeria.He revealed that the agency has almost completed administering all first doses as of Monday as 1,929,237 Nigerians have been captured.