Abuja: Nigeria’s continental supremacy battle with South Africa suffered a heavy blow as Nkosazana Dlamini-Zuma was elected Chairman of the African Union Commission late Sunday night in Addis Ababa, capital of Ethiopia. It was a worried Nigeria that came to Addis Ababa without President Goodluck Jonathan despite being fully aware of what was at stake.
Lagos: The Government of South Africa has commenced the issuance of E-visas as a way to boost the economy ties of the country with some African countries especially Nigeria, its major partner under the Nigeria-South Africa Bi-National Commission. According to Tourism Minister, Marthinus Van Schalkwyk at the begining of the week, the introduction of e-visas will serve not only to grow tourism volumes but will also create new job opportunities.
Lagos: The largest listed Nigerian companies are dwarfed by their South African (SA) counterparts, even as the size of both countries economies are expected to be neck and neck by September. For some analysts, this highlights the limits and symbolic nature of the rebasing of Nigeria’s Gross Domestic Product (GDP), which is expected to increase the size of its economy by 40 percent.
Lagos: Dangote Flour Mills Plc, a Nigerian producer, headed for its highest in more than a month after Tiger Brands Ltd. (TBS) of South Africa agreed to take a majority stake in the miller. The stock rose 4.9 percent to 6.24 naira as of 12:15 p.m. in Lagos, the commercial capital, set for the strongest close since May 30. Tiger Brands, South Africa's largest food company, has reached agreement in principle to buy a 63.4 percent stake in Dangote Flour from Dangote Industries Ltd. the Johannesburg-based company said yesterday.
Abuja: It has been a shopping extravaganza of some sort since Shoprite, the South African retail outfit opened its first outlet in Abuja, bringing to residents the usual convenient shopping experience that they possibly had longed for over the years. It’s unimaginable how are (sic) so-called rich have been trooping in.
Abuja: As over 9,941 Nigerians are serving various jail terms abroad, the Federal Government, alongside the legislature, has said that it will not condone illegality by its citizens living abroad. This was the consensus reached between the House of Representatives Committee on Foreign Affairs led by its chairperson, Honourable Nnenna Elendu-Ukeje and the Ministry of Foreign Affairs at a meeting in Abuja.
Luanda: The Nigerian Ambassador in Angola, Folorunso Olukayode Otukoya downplayed today (Tuesday) the need for the great contest for the election of the future president of the African Union Commission (AUC), since both candidates are worthy of exercising office. Speaking to the press, the diplomat said he sees no impediment to the Gabonese Jean Ping to get a second term as president of the continental organization, since the former presidents of the AUC completed two terms, even in the face several problems within the Commission.
Harare: Various publications by the Africa Development Bank, the UN Economic Commission by Africa, the World Bank and by this writer in The African Executive indicate an Africa destined for robust growth and prosperity in the coming decades. The continent is poised to become a major pole of global prosperity by 2050. However, the cherished goal of a sustained African renaissance may be undone if Nigeria and South Africa, the leading political and economic heavyweights in Africa do not start working together.
Abuja: Africa is at a crossroads. The African Union (AU) summit coming up in Addis Ababa in July is very crucial for the entire continent of Africa. During the last summit, neither of the two major candidates that contested for the chairmanship of the AU Commission was able to get the requisite two-thirds of the votes to emerge winner. Nigeria supported Gabon's Mr. Jean Ping, the current AU Commission chairman, to go for a second term but he did not get it and was asked to continue to hold the office till the next summit where the tie would be broken.
Abuja: South African government may shift the source of its crude oil imports to Nigeria in view of the growing uncertainties in the international oil market occasioned by the Euro zone, American, Asian and Middle East economic and political rumblings. Giving the hint in Abuja during the opening of the multi-billion naira Grand Towers Mall on Wednesday night in Abuja, South African High Commissioner in Nigeria, His Excellency, Kingsley Mamabolo, said importing oil from Nigeria was among other issues discussed at the Bi-National Commission meeting in South Africa this month, adding that if consummated, crude oil exports to the country would boost South African-Nigeria volume of trade in the years ahead.