Ghana Ports and Harbours Authority, the state company that runs the nation’s two ports, will award contracts worth $2.5 billion through 2018 to double capacity, handle larger ships and reduce waiting time for vessels.
Nigerian President Goodluck Jonathan postponed his budget presentation in parliament for the second time after lawmakers failed to agree on the benchmark oil price that helps establish the level of spending.
Seplat Petroleum Development Co., a Nigerian oil company that bought assets in the Niger River Delta from Royal Dutch Shell Plc, is considering listing shares on two stock exchanges, according to Managing Director Augustine Avuru.
Royal Dutch Shell Plc’s assertions that its Nigerian oil spills are caused by theft and sabotage are often untrue, according to Amnesty International, which said investigations into the incidents have been manipulated.
Emirates Telecommunications Corp., the United Arab Emirates’ most valuable company, agreed to acquire Vivendi SA’s controlling stake in Maroc Telecom SA for about 4.2 billion euros ($5.7 billion) in the Middle East’s largest takeover of a phone carrier.
Revenue earned by Nigeria this year may be as much as $12 billion short of budget estimates as theft of crude and output disruptions persist in the oil-rich Niger River delta, Finance Minister Ngozi Okonjo-Iweala said.