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Press Office - Metric Automotive Engineering - Reef Fuel
- http://www.reeffuel.co.za
- Email: warren@reeffuel.co.za
- Telephone: +27 11 873-2354
Reef Fuel Injection Services is a leading diesel service centre and is an authorised service agent to all five leading diesel fuel injection systems – Bosch, Caterpillar, Delphi, Denso and Stanadyne.
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Nigeria to permanently seize former oil minister's $37.5m property
By: Reuters 8th August 2017 Nigeria has been told by a court it can permanently seize a $37.5-million apartment block owned by a former oil minister who is wanted for money laundering. The property belongs to former petroleum minister Diezani Alison-Madueke, who was in office between 2011 and 2015. It had previously been... →
Nigeria says has rescued oil firm staff kidnapped by suspected Boko Haram militants
By: Reuters 27th July 2017 Nigeria's military has rescued all members of an oil survey team kidnapped by suspected Boko Haram militants, it said in a statement on Wednesday, after they were taken in the country's conflict-ridden northeast. Earlier on Wednesday, the Nigerian National Petroleum Corporation (NNPC) said... →
Nigerian statistician-general says economy on way out of recession
By: Bloomberg 5th May 2017 Nigeria’s economy, which contracted in 2016, performed better in the first three months of this year than during the previous three quarters on improved oil production and factory output, according to statistician-general Yemi Kale. “From the numbers we are seeing, certainly things are improving,... →
Diplomatic doldrums for Pretoria?
By: Keith Campbell 24th February 2017 While much local media attention has been devoted to US President Donald Trump, there has been something that, from a South African perspective, was much more important. This was the outcome of the African Union summit at the end of January. This appears to have been pretty much a diplomatic... →
Nigeria plan to link mines to steel mill seen as Buhari test
By: Bloomberg 18th January 2017 Nigeria’s plan to build a railway to supply iron-ore to its idle Ajaokuta steel plant could be the biggest sign yet that President Muhammadu Buhari is implementing his policy to diversify away from oil. The project began in 1979 with what the World Bank in 2002 called obsolete Soviet technology,... →
African auto association initiates talks with Nigeria on policy support
By: Irma Venter 2nd September 2016 A delegation from the African Association of Automotive Manufacturers (AAAM), led by chairperson Jeff Nemeth, has visited the Nigerian capital, Abuja, with the aim of creating a framework for policy development that will support the growth of the Nigerian automotive industry. Nemeth is also the... →
Nigeria, Spain to strengthen bilateral trade relationship
2nd September 2016 Nigeria and Spain, last month expressed their readiness to strengthen their bilateral trade relationship for mutual benefit across the spectrum in the oil and gas industry. State-owned oil development corporation Nigerian National Petroleum Corporation (NNPC) group MD Dr Maikanti Kachalla Baru... →
African auto body lobbies Nigeria on industry development
By: Irma Venter 17th August 2016 A delegation from the African Association of Automotive Manufacturers (AAAM), led by chairperson Jeff Nemeth, is visiting the Nigerian capital, Abuja, with the aim of creating a framework for policy development that will support the growth of the Nigerian automotive industry. Nemeth is also the... →
Venezuela mess prods China to reassess Africa lending spree
By: Bloomberg 30th June 2016 The threat of Venezuela defaulting on Chinese debt is putting pressure on Beijing to reassess how easily it doles out money to commodity-dependent nations, especially those in Africa. As low oil prices ravage Venezuela’s economy and embattled leader Nicolas Maduro seeks better terms on Chinese... →
Africa’s growth potential showing consistency
29th April 2016 Economic growth in Africa is expected to average over 4% in the next five years, according to accountancy and finance body the Institute of Chartered Accountants in England and Wales (ICAEW). →
Nigerian mining earmarked for growth, but GDP contribution in last five years a measly 0.15%
By: Ilan Solomons 4th March 2016 Nigeria’s attempt to revitalise its solid minerals sector as part of a broad strategy to lessen its dependence on oil and gas is yet to produce substantial results, with the sector contributing less than 0.15% to the country’s gross domestic product (GDP) in the past five years. The mining of... →
IMF, Nigeria discuss possible policy tweaks
By: Natalie Greve 7th January 2016 The International Monetary Fund (IMF) has discussed a range of policy recommendations with the government of Nigeria aimed at improving the African State’s competitiveness, focusing specifically on the critical areas of infrastructure, energy, transport and housing, IMF MD Christine Lagarde said... →
Stalled Nigerian oil law broken up, new draft splits state giant
By: Reuters 9th December 2015 Nigeria's government is breaking up an all-encompassing oil bill that has been stuck in Parliament for years, replacing it first with a law to overhaul the State sector, which aims to close loopholes that bred corruption, according to a draft seen by Reuters. Under the draft legislation, State... →
Is WesBank’s West African expansion still on track?
By: Irma Venter 23rd October 2015 Almost one year after the Nigerian Automotive Council and WesBank signed a memorandum of understanding (MoU) for the South African group to enter the Nigerian market, WesBank is yet to finance a vehicle purchase. WesBank had an “optimistic objective” to write its first deal in March, WesBank CEO... →
BEYOND OIL
16th October 2015 Nigerian President Muhammadu Buhari has indicated that the country’s 2016 Budget will prioritise actions designed to diversify economy away from its current dependence on oil and gas. Nigeria is Africa’s biggest economy and oil producer, but government has has been forced to reduce spending in... →
WesBank’s Nigerian expansion awaits regulatory approval
By: Irma Venter 5th October 2015 Almost one year after the Nigerian Automotive Council and WesBank signed a memorandum of understanding (MoU) for the South African group to enter the Nigerian market, WesBank is yet to finance a vehicle purchase. WesBank had an “optimistic objective” to write its first deal in March, WesBank CEO... →
Ford to begin Ranger assembly in Nigeria from October
By: Irma Venter 28th August 2015 US vehicle manufacturer Ford has announced that it will assemble its Ranger pickup in Nigeria, starting in October. The plant will be Ford’s first African production location outside South Africa, says Ford Motor Company Sub-Saharan Africa president and CEO Jeff Nemeth. →
Ford to start Ranger assembly in Nigeria
By: Irma Venter 12th August 2015 US vehicle manufacturer Ford on Tuesday announced that it would assemble its Ranger pickup in Nigeria, starting in October. The plant would be Ford’s first African production location outside South Africa, noted Ford Motor Company Sub-Saharan Africa president and CEO Jeff Nemeth. →
ERA/FoEN, Groups Urge Buhari to Tackle Oil Pollution in Niger Delta
3rd August 2015 On the occasion of the fourth year commemoration of the release of the United Nations Environmental Programme Assessment of Ogoniland (4 August 2015), Environmental Rights Action / Friends of the Earth Nigeria (ERA/FoEN) and other groups have called on the administration of General Muhammadu... →
Positive outlook on Africa marred by crises such as Burundi ahead of AU summit in S Africa
By: African News Agency 9th June 2015 Africa’s leaders are gathering in Johannesburg and Pretoria this week to try to prevent a rash of conflicts and crises derailing the continent’s promising growth prospects. The leaders of the 54 members states of African Union (AU) will be meeting for their 25th ordinary summit just after the... →
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