angola

Former President Olusegun Obasanjo has called for increased bilateral relations between Nigeria and Angola.Mr Obasanjo made the call at the Angola-Nigeria Diplomatic-Business Investment meeting on Saturday in Lagos. Mr Obasanjo, who was a special guest of honour at the event, said the meeting focused on the potential for enhanced collaboration between the two countries. According to him, the meeting also emphasises the need to boost trade volume within Africa, which reflects a commitment to advancing economic…

The World Bank has revised its growth projections for Nigeria, foreseeing a promising expansion of 3.3 per cent in 2024. The bank in its Global Economic Prospects report for January 2024 also forecast that the country’s per capita income is set to return to its pre-pandemic levels by 2025, reflecting a resilient recovery from the challenges posed by the global health crisis. According to the report, the Sub-Saharan African (SSA) region, which includes Nigeria, witnessed a deceleration in economic growth,…

Access Holdings has completed its bid to gain a foothold in Africa’s second-biggest oil producer, Angola, about two and a half months after announcing it had scaled regulatory hurdles to acquire the country’s Finibanco S.A. Bank. The move expands the territory of Nigeria’s biggest financial services group in the southern part of the continent, where it has already ventured into strategic markets including South Africa, Botswana and Zambia in addition to Mozambique. Angola is sub-Saharan Africa’s biggest economy…

Angola overtook Nigeria to emerge top African crude oil producer for the month of April, data from the Organization of Petroleum Exporting Countries (OPEC) has shown. According to the April 2023 Monthly Oil Market Report (MOMR) published by the oil cartel, Angola recorded 1.06 million barrels per day (bpd) of crude production in April, up from 972,000 bpd recorded in March. But Nigeria recorded an output of 999,000 bpd in April compared to 1.3 million bpd in March. The April output figure represented the lowest…

Plant sampling locations in this study and the geological map of Angola modified after Garzanti et al. (2018) and Dinis et al. (2017) (CB: Congo Basin; KB: Cuanza Basin; BB: Benguela Basin; NB: Namibe Basin). Credit: Journal of Archaeological Science (2023). DOI: 10.1016/j.jas.2023.105775 Archaeologists at UC Santa Cruz used predictive modeling to map strontium isotope ratios across all of modern-day Angola, a region in…

Miners in Angola have uncovered a massive pink diamond that may be the biggest gem of its kind found in the past 300 years.The pink diamond is estimated to weigh 170 carats, making it just a smidge smaller than the 182-carat Daria-i-Noor diamond – the largest pink diamond in the world, which today is part of the Iranian National Jewels.  The new diamond has been nicknamed the "Lulo Rose," after the Lulo mine in northeastern Angola where it was found, according to a statement from the Lucapa Diamond Company, which owns…