SOUTH Africa and Nigeria are to set up a joint commission co-chaired by their respective deputy presidents to promote economic cooperation between the two countries, a top official said Monday. The commission, to sit alternately in Nigeria and South Africa, will work on cooperation in economic matters, notably energy and industrial needs, number two in the Nigerian government Atiku Abubakar said in the capital Lagos on Monday. Trade and Industry minister Alec Erwin said that South Africa businesses are interested in investing in Nigeria and keen to supply the capital and technical base needed to develop untapped areas including solid minerals and communications.
ANGLO-DUTCH oil group Shell has declared force majeure on July deliveries after community disturbances in the troubled Niger delta region hit production, a company spokesman said on Monday. The spokesman was unable to provide figures detailing the fall in production. A declaration of force majeure is made when a company is unable to provide material agreed for sale for reasons beyond its control. Shell is the largest oil company operating in Nigeria, accounting for around half of the country’s production of 1,8-million barrels per day.