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The upgrade underpins expected progress on tax revenue collection and improved fiscal performance, alongside favorable terms of trade and export volumes supported by ongoing structural reforms backed by the IMF.
American oil giant Chevron has discovered the presence of hydrocarbons in the Nigeria’s Awodi-07 well following sucessful explortaion and appraisal.
French oil major TotalEnergies has secured a 50 year license extension with Waha Oil, a subsidiary of Libya’s National Oil Corporation NOC, to continue operating key oil fields in the country.
Nigeria’s national electricity grid collapsed for the first time in 2026, indicating the country’s first complete power shutdown of the year.
In 2024, the non-life insurer reported a capital base of about $2.8 million, leaving it with an estimated $7.3 million gap to close before the new thresholds take effect in July.
Italy’s energy company Eni has agreed to divest a minority stake in its offshore oil and gas development in Côte d’Ivoire, bringing in Azerbaijan’s state oil firm as a new partner in the project.
The United Kingdom and the African Development Bank (AfDB) have extended a $1 billion climate-linked debt guarantee to South Africa, securing a $400 million municipal financing deal.
The Rockefeller Foundation and the World Bank have expanded a programme to deploy solar-powered agricultural equipment across six African countries.
AfDB has approved a $16.5 million loan to support the development of the 35-megawatt OrPower Twenty-Two (OTTL) geothermal power plant in Kenya’s Menengai geothermal field.
Nigeria has approved targeted, investment linked incentives for Shell’s Bonga South West deepwater oil project as the government moves to unlock offshore investment and lift crude oil output.
Analysts say transaction will serve as a litmus test of whether investors are willing to look past conflict risks and buy into the country’s long-term growth story
Nigerian business tycoon Tony Elumelu has been appointed a non executive director of Seplat Energy Plc, following a $500 million divestment deal involving Heirs Holdings, his energy firm.
China Civil Engineering Construction Corporation (CCECC) has secured the contract to build a 7-megawatt floating solar power plant at the University of Lagos (UNILAG) in Nigeria.
South Africa’s Minister of electricity, Kgosientsho Ramokgopa, has revealed that coal remains the largest component of electricity costs in South Africa, accounting for roughly 40% of total generation expenses.
Egypt has paid about $5 billion in overdue bills to foreign oil and gas Partners as it works to reduce outstanding arrears and stabilise its energy Sector.
South Africa’s state-owned power utility, Eskom, says it is seeking partners to help reduce electricity costs and support industrial development in Africa’s most industrialised nation.
Seplat has announced first gas production from its ANOH Gas Project, marking the start of commercial operations at the gas processing facility.
The Kangaroo bond, which matures in January 2031, carries a coupon of 4.6% and was priced at a margin of about 40 basis points over the Australian swap rate.
Local media reports confirm a 5% levy on all mobile airtime and data purchases effective February 8 2026, with proceeds channelled into the state’s national disaster response fund.
Egypt has secured a $37 million loan from the OPEC Fund to support the development of the Abydos II solar photovoltaic project, a major renewable energy initiative in the country.
