China Offers To Invest $50 Billion In Nigeria's Oil
China has not given up on its attempt to become a player in the Nigerian oil industry. Consequently, the US$50 billion offer to the Federal Government to enable it acquire 49 per cent stake is still on the table. This translates to some six billion barrels in oil reserves. Several state-run Chinese oil firms, including the China National Offshore Oil Corporation (CNOOC) are currently in talks with the government to advance the East Asian country's interests. Their business proposals include incursions into some oil blocks held by Royal Dutch Shell. Reuters quoted unnamed industry executives as saying that Nigeria is using the specter of a Chinese bid for its oil as leverage in difficult contract renewal negotiations with its existing Western oil partners. Odein Ajum-ogobia, the Nigerian Minister of State for Petroleum, had in September stated that China would not be given all the reserves it was seeking. But the Nigerian National Petroleum Corporation could sell stakes in joint ventures with existing oil partners if Beijing offered the right price.
Death Penalty For Gays? Uganda Debates Proposal
Booker Rising highlighted this issue a month ago, but the story is now getting international coverage. Proposed legislation would impose the death penalty for active homosexuals living with HIV or in cases of gay rape. "Serial offenders" also could face capital punishment. Anyone convicted of a homosexual act faces life imprisonment, and their family and friends could face up to seven years in jail if they fail to report them to authorities. Landlords could be imprisoned for seven years for renting to homosexuals. Anyone with "religious, political, economic or social authority" who fails to report homosexual acts faces three years.
The legislation has drawn global attention across the spectrum of views on gay issues. The measure was proposed in Uganda following a visit by leaders of U.S. conservative Christian ministries that promote therapy for gays to become heterosexual. However, at least one of those leaders has denounced the bill, as have other conservative and liberal Christians in the U.S. Gay rights activists in Uganda say the legislation is likely to pass. But the bill is still being debated and could undergo changes before a vote, which has not yet been determined.
David Bahati, the legislator sponsoring the bill, said he was encouraging "constructive criticism" to improve the law, but insisted strict measures were necessary to stop homosexuals from "recruiting" schoolchildren. Uganda's ethics minister, James Nsaba Buturo, said the death sentence clause would probably be reviewed but maintained the law was necessary to counter foreign influence. He said homosexuality "is not natural in Uganda," a view echoed by many Ugandans. Mr. Minister Buturo played down the influence of foreign evangelicals, saying the proposed legislation was an expression of popular outrage against "repugnant" practices.
South Africa Plans To Invest $600 Million In ZambiaSouth Africa plans to invest $600 million in Zambia, Africa's top copper producer, to finance copper, agriculture and real estate projects in the next two years, Zambia's commerce minister, Felix Mutati said yesterday. Bongi Maria Ntoli, the South African deputy minister for Trade and Industry, said the global economic crisis had shown that Africa's buffer zone lies in promoting intra-continental trade. Zambia is South Africa's fourth biggest trading partner in Africa. The two countries, both facing an energy crisis, also signed an agreement to jointly invest in new power generation projects for the smooth running of the nations' key mining and other industries.
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