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Economy International Business News

Crude Oil: Innoson Takes On Shell

Innoson Oil and Gas has won 9 crude oil blocks in Sierra Leone – a coup in a sector normally dominated by such oil giants like Shell BP. The oil blocks are based in the South, near Sierra Leone’s border with Liberia.

Also read the Igbo translation: Mmanụ Ugbọ: Innoson Nke Nnewi Chọrọ Inapuzi Shell BP Okpu Eze Ha

Innoson won in a keenly contested licencing round. She competed against 6 other companies. Reports from Energy Voice state that Innoson won crude oil Blocks 96, 97, 114, 115, 116, 117, 133, 134 and 135. Another company, Cluff Energy won Blocks 23, 24, 25, 36, 37, 38, 39, 54, 55, 56, 57, 74, 75, 94 and 95.

Also Read: Despite Opposition From Governments, Facebook Goes Ahead With Libra Cryptocurrency

This development signals Innoson Group’s big entry into oil. Innoson is known more for vehicle manufacturing. Before that, they pioneered an innovative way of assembling motorbikes in Nigeria called CKD. CKD means Completely Knocked Down goods.

With Innoson’s record of excellence, it will not be surprising if it begins giving the Shells and Totals of this world a run for their money very soon.

Innoson recently expanded its car manufacturing operations with another plant in Nnewi. The Igwe of Nnewi was present.The foray into crude oil in Sierra Leone may be strategic. There are speculations that Innoson might be about to build an affordable car model for the West African country.

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International Business International Content International Politics Technology

Despite Opposition From Governments, Facebook Goes Ahead With Libra Cryptocurrency

Despite massive opposition from Western Governments like France and the US Congress, Facebook has announced plans to go ahead with a new version of its planned cryptocurrency the Libra, reports the BBC.

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International Business International Content Technology

abh12345 Powers Up To 50,000 SP Despite Uncertainty After Justin Sun’s ‘Moon Move’

A Steemian, abh12345, has powered up to 50k Steem Power despite the uncertainty trailing the acquisition of Steemit.com by Tron’s Justin Sun.

The powering up, which means investing in the Steem blockchain in a a way that stops you from selling it off is seen as a badly needed vote of confidence by many in the Steem community.

It is said that smart investors move against the tide. But has abh12345 made a wise financial decision given the current uncertainties. In his own words, he has either been brave or stupid.

Only time, and Justin Sun ⛅ can tell. To paraphrase abh12345 , he has either found a hidden treasure, or he has just poured his money 💰 into a basket.

Click to see Steemians congratulating him on the move which now makes him a leader of Steem. Let’s hope, let’s believe Steem is not a sinking ship.a

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Economy International Business International Politics

Benin Republic In Race To Counter Kaduna Dry Port

Benin Republic is quietly but quickly building a rail line from Cotonou, Benin Republic to Maradi, Niger Republic that could snatch a potential annual business opportunity of 100, 000 teus from Nigeria’s Kaduna Dry Port.

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Economy International Business

African Continental Free Trade Area (AfCFTA) A Golden Opportunity For Nigerian Businesses