Anna Rosenberg, sub-Saharan Africa analyst at Frontier Strategy Group, discusses what the implications of Nigeria becoming the biggest African economy are for the country and the continent.» Read More
JOHANNESBURG— The Associated Press has named Michelle Faul, who has covered the major stories of Africa over the past three decades, as its bureau chief in Nigeria. Faul has been AP's chief Africa correspondent based in Johannesburg since 2005, traveling widely in sub-Saharan Africa.
NEW YORK, April 14- Brent crude oil rose more than $1.50 on Monday as tensions escalated in Ukraine, while U.S. crude rose modestly after positive retail sales data signaled a rebound in the U.S. economy.
NEW YORK, April 14- Brent crude oil rose more $1.50 on Monday as Western powers considered tougher sanctions against Russia over its actions in Ukraine, while U.S. crude rose modestly after positive retail sales data signaled a rebound in the American economy.
NEW YORK, April 14- Brent crude oil rose $1 on Monday as Western powers considered tougher sanctions against Russia over its actions in Ukraine, while U.S. crude rose modestly after positive retail sales data signaled a rebound in the American economy.
LONDON, April 14- Oil rose towards $108 per barrel on Monday on concern that escalating tension between Russia and Ukraine could lead to supply disruption, though prices were capped by the prospect of a recovery in Libyan exports.
LONDON, April 14- Oil was flat on Monday, as the prospect of a recovery in Libyan exports offset concern that escalating tension between Russia and Ukraine could lead to supply disruption. U.S. oil slipped 24 cents to $103.50 after settling 34 cents up in the previous session.
LONDON, April 14- Oil rose above $108 a barrel on Monday, on concern that escalating tension between Russia and Ukraine could lead to supply disruption. The United States and the European Union considered tougher sanctions against Russia, a key exporter of crude oil to Europe and Asia, if separatist action continues.
DAKAR/ JOHANNESBURG, April 11- For centuries, colonial era merchants tussled for access to Africa's raw materials, and huge swathes of Africa's geography became synonymous with the main commodity they exported: Gold Coast, Ivory Coast, the Spice Island of Zanzibar.
LAGOS, Nigeria— The official News Agency of Nigeria reports Zimbabwe's envoy has been called in for a complaint about President Robert Mugabe's remarks about corruption in Nigeria. It says the ministry of foreign affairs on Thursday told Zimbabwean diplomat Stanley Kunjeku that Nigeria will not tolerate Mugabe's "vitriolic and denigrating" attack.
*Ghana's TUC rejects a wage freeze. ACCRA, April 10- For a decade, Ghana powered ahead as it started pumping oil, won debt forgiveness, achieved coveted middle-income status and saw five years of economic growth above 8 percent that made it the envy of other African nations.
*Policy makers play down QE tapering, China slowdown impact. From Senegal to Nigeria and Rwanda, officials play down the impact on investment and capital inflows from the U.S.
*Need to focus on GDP per capita, World Bank says. *Nigeria needs to improve infrastructure, beware inequality. Nigeria's 2013 GDP was rebased up to an estimated nearly $510 billion- a "pie" one and half times the size of South Africa's, but feeding more than three times as many people.
ABUJA, Nigeria— The chief of Nigeria's air force says it is buying new fighter jets and helicopters. The air force has been pivotal in an offensive to curb an Islamic uprising in the northeast with near-daily bombing raids on insurgent hideouts in forests and caves along the border with Cameroon.
*S.Africa, Nigeria vying to be' voice' of Africa. ABUJA, April 6- Nigeria has overtaken South Africa as Africa's largest economy after a rebasing calculation almost doubled its gross domestic product to more than $500 billion, data from the statistics office showed on Sunday.
ABUJA, April 6- Nigeria has overtaken South Africa as Africa's largest economy after a rebasing calculation nearly doubled its gross domestic product, data from the statistics office showed on Sunday.
LAGOS, Nigeria— Nigeria is set to overtake South Africa as the biggest economy in Africa with a long-overdue recount of its GDP that will give it continental bragging rights but do little for its 112 million people scrabbling to survive in desperate poverty.
By Pascal Fletcher and Tim Cocks. ABUJA, March 31- Nigeria has a strong, buoyant economy receiving billions of dollars of foreign and domestic direct investment in power, petrochemicals, agriculture and consumer goods, but it needs to grow faster to reduce poverty, its finance minister said,.
*Nigeria, Turkey hit by political turmoil. Former Goldman Sachs economist O'Neill came up with the name BRIC in 2001 to group Brazil, Russia, India and China as countries whose growth will shape the world economy in the coming decades.
Nigeria's president on Thursday suspended the governor of the country's central bank for "financial misconduct".
Central Bank of Nigeria Governor Lamido Sanusi has been suspended by President Goodluck Jonathan for alleged misconduct, CNBC Africa reports.