Kano State Government in Nigeria has handed over 150 hectares of land to Dangote Group for the development of a US $150m Dangote/Black Rhino solar power plant in Zakirai, Gabasawa local government area. Managing Director, Stakeholder Management Dangote Group, Alhaji Bello Danmusa received the land on behalf of Aliko Dangote.

The Nigerian Senate has said it will amend the Nigeria Oil and Gas Industry Content Development, NOGICD Act, 2010, noting that the existing law was not achieving the aims for which it was enacted. The Senate took the decision to amend the Act after the Ad-HOC Committee currently investigating the local content and cost variation of the $16 billion Egina Deep Sea oil project, made its observation known.

The Central Bank of Nigeria (CBN) on Monday injected the sum of $55m into the economy for Nigerians requiring foreign exchange (Forex) for Business/Personal Travel Allowances, tuition, and medical fees. The amount is part of $210m pumped into various segments of the foreign exchange market by the apex bank.

Federal Government has offered to assist the Zamfara State government to revive companies in the state operating in the cotton textile industry. Minister of State for Industry, Trade and Investment, Hajia Aisha Abubakar, made this known when members of the Zamfara Chambers of Commerce, Industry, Mines and Agriculture (ZACCIMA) ran to her for help. The Minister tasked the body to identify five declining companies in Zamfara State from which two or three would be selected for the Ministry’s intervention.

The Senate Committee on Petroleum (downstream) is set to commence investigation into the petroleum subsidy scheme with a warning that any government officials found to have been involved in petroleum subsidy racketeering would be duly punished.

Committee Chairman, Senator Kabir Marafa stated this while addressing executives of agencies of government who were being questioned over their roles in petroleum subsidy from 2006 till date.

Marafa said, the claims by the Nigeria National Petroleum Corporation (NNPC) that 70 million litres of PMS were being consumed daily by Nigerians might not be true; hence, the move to investigate activities of the sector.

The Economic and Financial Crime Commission says it has frozen the bank accounts of former Secretary to the Government of the Federation (SGF) Babachir Lawal. According to Punch, both the personal account of Lawal and the account of Rholavision Engineering Limited, a company incorporated by the former SGF in 1990, have been frozen by the EFCC.

U.S. energy companies added 12 oil rigs this week, the biggest weekly increase since March, as crude prices hovered near their highest levels since 2014, prompting drillers to return to the well pad. Drillers boosted the oil rig count to 759 in the week to Jan. 26, the highest level since September, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday.

A coalition of militant groups in Ondo state on Friday gave oil companies in the state three days ultimatum to relocate from the state or face violent attacks on personnel and oil installations. The Secretary of the Coalition, Akinfemi Raymond who issued the ultimatum in Akure while addressing newsmen stated that the non-enrollment of their members in the Federal Government Amnesty Programme was the reason behind their grievances.

The Central Bank of Nigeria (CBN) has reportedly removed 36 sub-items from the list of items banned from accessing forex from its window since 2015. President of the Manufacturers Association of Nigeria (MAN), Frank Udemba-Jacobs, said this in a chat with journalists in Lagos.

The trade and economic cooperation between China and Nigeria has prospered with bilateral trade hitting $11.2 billion with first 10 months of 2017.

The figure put the growth rate at 28.5 per cent which made Nigeria as China’s third largest trading partner and second export partner in Africa.

Mr Zhao Linxiang, Economic and Commercial Counsellor, Embassy of China made this disclosure at a reception for participants of training courses in China in Abuja on Thursday.

He further said that China’s total investment in Nigeria had, so far, reached $2.7 billion.