Business
Angola Ranked Top African Oil Producer Ahead of Nigeria
Angola has been Ranked as the top Africa’s largest oil producer since oil output in Nigeria reduced in April among other Organization of the Petroleum Exporting Countries, (OPEC).
The latest monthly oil market report released by OPEC on Thursday shows that Nigeria’s oil output reduced by 270,000 barrels per day (bpd) to 999,000 bpd in April from 1.26 million bpd in March, based on direct communication.
Recall that the last time Angola overtook Nigeria was in May 2022, when oil theft was rampant.
Angola’s oil production rose by 91,000 bpd to 1.06 million bpd in May, up from 978,000 bpd in March, based on direct communication.
Nigeria suffered the biggest decline in production, the least in seven months according to government data, among its OPEC peers, followed by Iran, which lost 262, 000 bpd in April, based on direct communication.
OPEC’s oil production declined by 310,000 bpd to an average of 28.8 million bpd, the lowest level in almost a year due to a fall in Iraq’s exports and pipeline suspension while a labour strike cut shipments from Nigeria.
Oil and gas analysts have associated the recent reduction on the shutdown of activities at the Forcados oil terminal, one of Nigeria’s major export terminals.
According to oil experts, the oil terminal has been shut down for two weeks. Also, strike action at the Nigerian unit of ExxonMobil has cut off production.
“Non-OPEC liquids production (including OPEC NGLs) is estimated to have decreased m-o-m in April 2023 by 0.3 million bpd to average 72.7 million bpd,” the 13-member oil cartel said.
“The share of OPEC crude oil in total global production remains unchanged to stand at 28.2 percent in April compared with the previous month.”
According to OPEC, estimates are based on preliminary data for non-OPEC supply, OPEC NGLs and non-conventional oil, while assessments for OPEC crude production are based on secondary sources.
Business
PRovoke Media 2025 Influence 100: Dangote ‘s Anthony Chiejina Ranks Among Most Powerful Global Communications Leaders
This year’s list reflects a powerful cross section of communications leadership from some of the world’s most influential organisations, including Walmart, Apple, Shell, Microsoft, Nvidia, Nissan, Coca Cola, Google, Lufthansa, MTN, Emirates, Ford, Marriott, Tencent and Reliance Industries among others.
• File Photo: Anthony Chiejina
PRovoke Media has again recognized the Group Chief Branding and Communications Officer, Dangote Group, Anthony Chiejina, among the most powerful communications leaders in the world, in its prestigious 2025 Influence 100.
The recognition marks Chiejina’s fifth consecutive appearance on the global ranking, having previously been listed in 2021, 2022, 2023 and 2024, a rare distinction that underscores both consistency and sustained global relevance.
According to PRovoke Media, the 2025 Influence 100 identifies the most impactful senior communications, corporate affairs and marketing executives worldwide.
It emphasised that Chiejina’s inclusion reflects his central role in shaping the reputation of Dangote Group, Africa’s largest industrial conglomerate.
It notes that for over 15 years, Chiejina has overseen corporate communications across the group’s diverse portfolio, spanning cement, agriculture, energy, manufacturing and consumer goods.
His stewardship has been instrumental in positioning Dangote as the continent’s most admired indigenous company and a symbol of African industrial ambition.
According to the publication, under Chiejina’s leadership, the group’s communications function has navigated complex regulatory environments, major industrial expansions and heightened global attention, particularly as Dangote deepens its footprint across Africa and advances sustainability and energy security initiatives.
” As group head of corporate communications, he oversees external and internal reputation across multiple sectors spanning cement, agriculture, energy and consumer goods, and has helped steer the brand’s continued recognition as the most admired indigenous company on the continent,” it said.
His continued presence places him among an elite group of in-house communicators whose judgement, influence and strategic insight shape corporate reputation at the highest level
According to the publication, under Chiejina’s leadership, the group’s communications function has navigated complex regulatory environments, major industrial expansions and heightened global attention, particularly as Dangote deepens its footprint across Africa and advances sustainability and energy security initiatives.
Meanwhile, the 2025 Influence 100 includes 28 new entrants, alongside several high profile re entries by senior communications leaders who have since taken on expanded global roles.
These include Michael Stewart, who moved from PwC to Unilever; Michael Gonda, from McDonald’s to Nike; and Sandy Rodriguez, also from McDonald’s to Eli Lilly.
This year’s list reflects a powerful cross section of communications leadership from some of the world’s most influential organisations, including Walmart, Apple, Shell, Microsoft, Nvidia, Nissan, Coca Cola, Google, Lufthansa, MTN, Emirates, Ford, Marriott, Tencent and Reliance Industries among others.
In total, 20 countries are represented, highlighting the global reach and strategic importance of senior in house communications leadership.
Gender representation remains strong, with 58 women and 42 men featured, sustaining a female majority for the second consecutive year.
Business
Beyond GDP, UNCTAD to launch new economic indicators for measuring countries prosperity
Accordingly , a High-Level Expert Group on Beyond GDP, mandated by the UN’s landmark Pact for the Future has been tasked with developing recommendations for a set of universally relevant indicators that countries can own and use to guide policy.
Photo: UNCTAD Secretary-General Rebeca Grynspan. Credit: UNCTAD
UN Trade and Development (UNCTAD) says a new metrics for measuring countries progress beyond GDP, will be launched during the upcoming UN General Assembly in the spring of 2026.
Accordingly , a High-Level Expert Group on Beyond GDP, mandated by the UN’s landmark Pact for the Future has been tasked with developing recommendations for a set of universally relevant indicators that countries can own and use to guide policy.
UNCTAD serves as co-secretariat to the “Beyond GDP” expert group, alongside other entities including the Executive Office of the UN Secretary-General, the UN Department of Economic and Social Affairs and the UN Development Programme.
This initiative stems from the urgent need for measures of progress that enable more balanced and integrated pursuit of sustainable development.
GDP does not capture progress in well-being, equity, inclusiveness or sustainability – and it was designed as a measure of economic activity.
“Our approach will emphasize how better well-being and its drivers, such as health, social capital and the quality of the environment, are not only good for societal welfare but also contribute in an integral way to economic prosperity,” the interim report argues.
The “Beyond GDP” agenda, increasingly gaining traction among UN member countries, is about complementing traditional economic measures, rather than replacing them.
To do so, five principles are important.
First, countries need to look at more than GDP to gauge material well-being more accurately.Second, it takes more than income to capture all aspects of well-being.
Third, when addressing inequality and exclusion it’s necessary to look beyond average figures.
Fourth, the need to think in the long term, to ensure economic, environmental, social and institutional sustainability for future generations.
In addition, well-being is interconnected across countries in today’s world.
This makes cooperation all the more crucial, in setting global norms of measurement, unlimited to specific countries or regions.
Business
Flutterwave buys Mono for $40 million
Under the deal, Mono will continue to operate as an independent product, with no changes to its leadership or operations.
• Flutterwave Nigeria HQ, Lagos
Flutterwave, Africa’s largest fintech company, has acquired Nigerian open banking startup Mono in an all-stock transaction valued between $25 million and $40 million.
The acquisition brings together two major fintech infrastructure players as Flutterwave looks to strengthen its payments stack with open banking, data, and identity capabilities.
Under the deal, Mono will continue to operate as an independent product, with no changes to its leadership or operations.
The transaction allows Mono’s investors to at least recoup their capital, with some early backers reportedly recording returns of up to 20x.
(Nairametrics)
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