GO
Loading...

Nigeria

More

  • *OPEC decision not to cut output weighs on Nigeria unit. LAGOS, Nov 28- Nigeria's naira fell 2.5 percent on Friday, despite central bank intervention, and it briefly touched a record low on concerns OPEC's decision not to cut oil output would put further pressure on Nigeria's shaky finances. The central bank has struggled to keep the naira within its preferred band...

  • Oil falls as OPEC opts not to cut production Thursday, 27 Nov 2014 | 1:09 PM ET
    Saudi Arabian Oil Minister Ali al-Naimi.

    The Organization of Petroleum Exporting Countries (OPEC) decided on Thursday not to cut oil production, despite sliding oil prices.

  • *Falling oil prices have undermined Nigeria's reserves. ABUJA, Nov 25- Nigeria's central bank devalued the naira by 8 percent and raised interest rates sharply on Tuesday, as it sought to stem losses to its foreign reserves from defending the currency against weaker oil prices. The last time it devalued was in November 2011, when it lowered the band from 145- 150...

  • Will the Nigerian Central Bank tighten?     Tuesday, 25 Nov 2014 | 4:40 AM ET

    Manji Cheto, vice president at Teneo Intelligence, says she expects the Nigerian Central Bank to tighten monetary policy at its Tuesday meeting.

  • The currency issues facing Nigeria     Tuesday, 25 Nov 2014 | 3:30 AM ET

    Stuart Culverhouse, chief economist at Exotix, discusses whether Nigeria's central bank will step in to support the naira and the economic issues facing the country.

  • Cramer's recipe for high prices in 2015 Monday, 24 Nov 2014 | 6:10 PM ET
    The Apple flagship store on 5th Avenue in New York.

    Money managers are looking for a reason to buy right now, and Jim Cramer is here to help. He goes sector by sector to offer his pick of hot stocks.

  • LAGOS, Nov 24- Nigeria's naira hit a record low on Monday on concerns that a recent slide in global oil prices could undermine the central bank's efforts to keep defending the currency, dealers said. While the naira recouped some losses later in the day, one economist said an eventual devaluation was creeping closer for Nigeria, which also faces an Islamist...

  • China wants to build the world a railway Thursday, 20 Nov 2014 | 2:29 PM ET
    A construction site of the Lagos Rail Mass Transit system in Nigeria.

    With its domestic economy cooling, China is investing heavily outside its borders in multibillion dollar infrastructure projects.

  • JOHANNESBURG/ DUBAI, Nov 19- Bharti Airtel's planned disposal of mobile phone towers in Africa will see it sell masts in Tanzania to Helios Towers, while units in Malawi will go to Eaton Towers, a person with knowledge of the deal said on Wednesday. The Tanzania sale will include about 1,000 towers, said the source, who declined to be identified because the deal has...

  • Agriculture needs more focus in Nigeria     Tuesday, 18 Nov 2014 | 4:10 AM ET

    Akinwumi Adesina, federal minister of agriculture and rural development in Nigeria, discusses Nigerian President Goodluck Jonathan's efforts to step up the country's agricultural sector.

  • DIARY - Emerging Markets Economic Events to Dec 1 Monday, 17 Nov 2014 | 7:02 PM ET

    Nov 18- For other related diaries, please. MAKATI CITY- Asian Development Bank to launch the latest Asian Economic Integration Monitor- 0130 GMT. BRASILIA- Brazil Central Bank President Alexandre Tombini may speak at congressional commission about deterioration of the country's fiscal results.

  • ABUJA, Nov 16- Nigeria's finance minister has proposed lowering the assumed benchmark oil price for the country's 2015 budget to $73 per barrel from the $78 proposed in September, due to the recent sharp fall in global crude prices. Brent crude prices, the index against which Nigeria's oil is priced, has fallen more than 30 percent since July.

  • By Oludare Mayowa and Chijioke Ohuocha. LAGOS, Nov 13- Nigeria's naira currency fell 2.7 percent against the dollar on Thursday, despite central bank intervention, with foreign investors also selling bonds and stocks as the price of oil tumbled to a four-year low, dealers said. This has led to increased expectations of a tightening of monetary policy- to help draw...

  • Forgotten OPEC state gains steam—but not for long Friday, 7 Nov 2014 | 1:34 PM ET
    This Feb. 5, 2008 photo shows shift supervisor Ojerinde Kanoru aboard the FPSO Bonga (Floating, Production, Storage and Offloading) facility 75 miles off the coast of Lagos, Nigeria.

    Oil production is at the highest in a decade in Nigeria, but the surge is not likely to last long.

  • LAGOS, Nov 7- Nigeria's central bank has vowed to defend the naira, despite a drop in oil prices which has unnerved foreign investors and sent its stock and bond markets into a tailspin, Deputy Governor Sarah Alade told Reuters on Friday. The currency closed at 165.90 naira following the central bank's intervention, after weakening to 173.05 naira intraday...

  • *Nigeria still has relatively low sovereign debt. Nov 5- A sharp drop in global oil prices has raised the twin specters of a potential currency devaluation and budget shortfalls in Nigeria just as Africa's biggest economy gears up for a closely fought and costly presidential election in February. Nigeria, the continent's top producer, relies on oil for only 14...

  • LAGOS, Nov 4- Nigeria's main share index hit a 13- month low and government bonds fell on Tuesday as foreign investors pulled out of Nigerian assets, prompting the central bank to sell dollars to support the ailing naira. Nigeria's currency has come under pressure in the past two months from falling global oil prices, dampening appetite for assets in Africa's...

  • *Nigeria seeking to cut dependence on oil through farming. ABUJA, Oct 28- Nigeria expects to earn $1.3 billion from cocoa exports this year, an increase of 45 percent on two years ago, after a steady rise in output that could help shift Africa's top economy away from its reliance on oil, its agriculture minister told Reuters. Akinwumi Adesina, speaking on the...

  • Texas Ebola watch ends for 48 people in isolation Monday, 20 Oct 2014 | 8:41 AM ET
    First responders wear full biohazard suits while responding to the report of a woman with Ebola-like symptoms at the Dallas Area Rapid Transit White Rock Station October 18, 2014 in Dallas, Texas.

    The first wave of people who had contact with the original Dallas Ebola patient who died were taken off a watch list early Monday.

  • WHO: We'll police Ebola response—after it's over Saturday, 18 Oct 2014 | 10:01 AM ET
    A custodial worker wears a mask and eye protection to guard against the Ebola virus as he prepares to clean Ruth Cherry Intermediate School in Dallas.

    The World Health Organization promised that it would publish a full review of its handling of the Ebola crisis once the outbreak was under control.