Related stories: President Tinubu signs law classifying crypto as securities
Wednesday, April 9, 2025
Video - Nigerian farmers look to capitalize on rising cocoa prices
Nigeria's cocoa industry is booming as prices hit record highs. However, behind the price surge lie challenges and opportunities as farmers face significant rewards and risks in this volatile market.
Tuesday, April 8, 2025
Video - Millions of Nigerian landowners lack government-issued titles
According to Nigerian government data, less than 10 percent of land is officially documented, leaving millions of landowners without government-issued titles. This lack of formal recognition has become a significant barrier for landowners seeking loans. Experts point to bureaucracy and corruption within Nigeria's land ownership system as key factors contributing to the issue.
Video - Nigeria aims to construct over 500,000 housing units annually
According to industry experts, achieving this ambitious goal requires over $6.25 billion annually, a target hindered by a struggling local manufacturing sector and a heavy reliance on imported materials.
Nigerian troops arrest dozens in week-long oil theft crackdown
Nigerian troops arrested 43 suspected oil thieves and seized more than 254,000 litres of stolen fuel in a series of operations across the oil-rich Niger Delta, the army said on Monday.
The week-long operations between March 31 and April 6 targeted illegal refining sites and transport networks used by oil thieves, acting army spokesperson Danjuma Jonah Danjuma said in a statement.
Troops also destroyed 14 artisanal refineries and demobilised 14 boats during the operations.
Oil theft and illegal refining are rife in Nigeria's oil-rich delta as impoverished locals and more sophisticated criminal gangs pilfer pipelines to make fuel to sell for profit.
Seizures were made in Rivers, Bayelsa, and Delta states. In a large, illegal bunkering site in the Sapele area of Delta, thousands of litres of stolen crude oil and refined products were recovered, along with vehicles and equipment, Danjuma said.
The week-long operations between March 31 and April 6 targeted illegal refining sites and transport networks used by oil thieves, acting army spokesperson Danjuma Jonah Danjuma said in a statement.
Troops also destroyed 14 artisanal refineries and demobilised 14 boats during the operations.
Oil theft and illegal refining are rife in Nigeria's oil-rich delta as impoverished locals and more sophisticated criminal gangs pilfer pipelines to make fuel to sell for profit.
Seizures were made in Rivers, Bayelsa, and Delta states. In a large, illegal bunkering site in the Sapele area of Delta, thousands of litres of stolen crude oil and refined products were recovered, along with vehicles and equipment, Danjuma said.
By Camillus Eboh, Reuters
Subscribe to:
Posts (Atom)