A Nigerian satellite hailed at its launch last year as the vanguard of an African communications revolution has failed and cannot be recovered, officials said on Wednesday.

The satellite -- which was launched to provide phone, broadband Internet and broadcasting services to rural Africa -- was switched off last week due to a battery charging problem.

Members of the Joint Task Force (JTF) were recently engaged in a gun duel with the Niger Delta militants in a bloody shoot-out in the Nigeria oil-rich creeks of Bayelsa State.

According to The Punch

RIYADH, Nov 17, 2007 (AFP) - The surge in oil to nearly 100 dollars a barrel has raised 'significant' concerns that the high prices will hit demand in the longterm, Nigerian Oil Minister Odein Ajumogobia said Saturday.

The minister, speaking on the sidelines of a summit of leaders here, said: 'There must be concern that the high price will eventually surpress demand.'

RIYADH, Nov 17, 2007 (AFP) - The surge in oil to nearly 100 dollars a barrel has raised 'significant' concerns that the high prices will hit demand in the long term, Nigerian Oil Minister Odein Ajumogobia said Saturday.

The minister, speaking on the sidelines of a summit of leaders here, said: 'There must be concern that the high price will eventually surpress demand.'

He added: 'We've seen it before when we had a high price that led to recessionary tendencies, which depressed demand and then the price crashed.'

LAGOS, Nov 17, 2007 (AFP) - Nigerian stock prices rose 3.8 percent this week as the index closed at 53,291.68 points from 51,596.62 the previous week, brokers said Saturday.

PORT HARCOURT, Nigeria, Oct 22, 2007 (AFP) - Gunmen abducted two children of employees of the French energy group Total/Elf on Monday in Nigeria's Port Harcourt region of the oil rich Niger Delta, a security source said.

The children, aged five and six, were snatched early Monday on the way to school, but no ransom has been demanded yet, hours after the kidnapping.

Small children of prominent Nigerians in the Delta region have become targets for kidnappers in recent months.

LAGOS, Oct 22, 2007 (AFP) - Nigerian stock prices rose 0.2 percent last week as the All-Shares index closed at 51,316.89 points, brokers said Monday.

Investors traded 2.7 billion shares valued at 42.4 billion naira in 56,473 deals compared with 1.8 billion shares valued at 26.13 billion naira in 32,774 deals the previous week.

Market capitalisation stood at 8.23 trillion naira.

Seventy-five stocks appreciated in value with African Petroleum chalking up 5.34 naira to close at 112.24 naira per share.

A total of 59 stocks fell in value last week.

LAGOS, Oct 21, 2007 (AFP) - A Nigerian electoral court has annulled the election of a state governor for the second time in 10 days, press reports said Sunday.

The electoral court in northwestern Kebbi state invalidated the election win of governor Saidu Dakingari from the ruling People's Democratic Party, following complaints from two opposition parties.

It judged the PDP's nomination of Dakingari as gubernatorial candidate -- shortly after he had defected from an opposition party -- was an illegal move.

LAGOS, Oct 21, 2007 (AFP) - Three foreigners and four Nigerians were kidnapped Sunday from an oil rig run by Anglo-Dutch giant Shell off southern Nigeria, industry and security sources said.

The nationality of the foreign hostages was not known. The attack targeted an oil field that was also raided by kidnappers last year.

More than 200 foreigners, mostly oil workers, were kidnapped in the Niger Delta in the 18 months to June amid a rebellion over distribution of oil revenues in the energy-rich region.

LAGOS, Oct 21, 2007 (AFP) - Three foreigners and four Nigerians were kidnapped Sunday from an oil rig run by Anglo-Dutch giant Shell off southern Nigeria, industry and security sources said.

The nationality of the foreign hostages was not known. The attack targeted an oil field that was also raided by kidnappers last year.