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[elombah.com] In a reversal of roles, Portugal's prime minister is travelling to oil-rich Angola, to ask for more investment from their former colony which is boosting its investment in its former colonial power caught up in the eurozone debt crisis. Angola's investments in Portugal have risen sharply in recent years. Angolan presidential aide Carlos Maria Feijo said Portugal's privatisation scheme would be discussed during the visit. The International Monetary

[Bloomberg] Nigeria’s naira slipped against the dollar on speculation that the central bank won’t be able to defend its targeted trading range for the currency. The currency of Africa’s top oil producer retreated 0.1 percent to 158.75 per dollar as of 10:52 p.m. in Lagos, according to data compiled by Bloomberg. The naira depreciated 0.6 percent last week, snapping two weeks of increases.

The evolutionary ideas for European Union were first conceived after the end of the devastating 2nd World War. The initial plan was to end the frequent and bloody wars and conflicts between European neighbors. Six countries were often credited as the original founding members, including Belgium, France, Germany, Italy, Luxembourg and the Netherlands. In 1957, the Treaty of Rome was signed leading to the creation of

PRESIDENT GOODLUCK JONATHAN recently invited a group of businessmen to a cattle ranch for a retreat to discuss how to generate faster economic growth. At one point he handed the assembled notables unmarked brown envelopes. Raised eyebrows rippled around the room. The president often castigates corruption. Yet he motioned for the tycoons to open the envelopes. Inside they found not cash but blank pieces of

Integrated oil and gas company TOTAL S.A. announced that its Nigerian subsidiary Total E&P Nigeria Ltd. (TEPNG) has made a second oil discovery at its Oil Mining Lease (“OML”) 102. The new find is located 65 kilometers (40.4 miles) off the southeastern coast of the country, about 15 kilometers (9.3 miles) southeast of the Ofon field. The Etisong North-1 well was spud at a total depth of 2,387 meters (7,831.4 ft) including water