Nigeria, Dubai ink $16b oil infrastructure deal

Nigeria and Dubai have signed a preliminary agreement worth $16 billion to develop oil and gas infrastructure in Africa’s top crude producer, officials said. The deal will see Dubai World Corporation (DWC) wholly-owned by Dubai emirate, investing in projects in the restive Niger Delta, Africa’s oil and gas heartland, which accounts for nearly all of Nigeria’s around 2.0 million barrels of crude per day.