Russian President Vladimir Putin has predicted that the BRICS nations will see higher economic growth than the global average by the end of 2024. Speaking at a plenary session of the BRICS Business Forum in Moscow, Putin stated that the BRICS nations’ Gross Domestic Product (GDP) growth rate is expected to reach 4% by the […]
BRICS Nations Expected to Surpass Global GDP Growth in 2024 – Putin Read More »
In a bid to safeguard the nation’s food security and stabilize prices in local markets, the President of Niger has announced a ban on the export of essential cereals such as rice, millet, sorghum, cowpea, and corn. This move is intended to ensure that enough supply of these staple crops remains within the country to
LAGOS – Nigeria’s foreign reserves have experienced a significant boost, with the Central Bank of Nigeria (CBN) recording an average net inflow of $2.35 billion each month, according to Wale Edun, the Minister of Finance and Coordinating Minister of the Economy. Edun made this announcement during the 2024 Access Bank annual corporate forum held in
Nigeria’s Foreign Reserves Surge by $2.35 Billion, Boosting Naira Stability Read More »
Russia has tentatively agreed to construct a significant fuel pipeline in the Republic of Congo, linking the western port of Pointe-Noire to Brazzaville, the capital city. This development, reported by Reuters, underscores Russia’s growing influence in Africa as it seeks to strengthen ties across the continent. A joint venture will be formed to oversee the
Russia Secures 90% Stake in Fuel Pipeline Deal with Republic of Congo Read More »
African Stream, a news media platform that produces stories about Africa, has come under scrutiny following recent revelations from the U.S. State Department. In a press release on September 13, 2024, the State Department outlined the global covert activities of Russian state-funded media, particularly RT (formerly Russia Today). According to the U.S. government, African Stream
On Saturday, the Presidential Compressed Natural Gas Initiative (P-CNGi) launched a key phase of its plan to reduce fuel costs by distributing and installing compressed natural gas (CNG) kits to commercial motorists in Ogun State. This initiative aims to convert petrol-powered vehicles to run on the more affordable and environmentally-friendly CNG. At the launch event
Rwanda has embarked on a transformative journey with the construction of the $300 million Kigali Innovation City (KIC), a groundbreaking project set to position the East African nation as a leading hub for technology and innovation in Africa. Dubbed the “Silicon Valley of Africa,” Kigali Innovation City is poised to attract global attention with its
The Dangote Refinery, Africa’s largest, is facing challenges as local petroleum marketers in Nigeria continue to boycott its products, preferring to import refined petroleum from abroad. Devakumar V.G. Edwin, Vice President of Dangote Industries Limited, expressed frustration over the boycott during a discussion hosted by Nairametrics on X (formerly Twitter) on Wednesday. Despite the refinery’s
Dangote Refinery Faces Boycott from Local Marketers, Exporting Majority of Production Read More »
Innoson Vehicle Manufacturing Company (IVM) has made a significant stride in the Nigerian automotive industry by unveiling its first locally produced electric vehicle. This marks a major milestone for the company and the country as it enters the burgeoning electric vehicle (EV) market. The news was announced through a Facebook post by Cornel Osigwe, Head
Innoson Vehicle Manufacturing Unveils Nigeria’s First Locally Produced Electric Vehicle Read More »
Abuja, 7th September 2024 – The Nigerian National Petroleum Company Limited (NNPC Ltd) has issued a statement refuting claims by the Muslim Rights Concern (MURIC) that the company is obstructing Dangote Refinery Limited (DRL) from offering lower pump prices for Premium Motor Spirit (PMS) in the Nigerian market. According to NNPC Ltd, these assertions are
