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Nigeria

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  • ABUJA, July 1- Nigeria should merge its debt-laden airlines and create a national carrier in partnership with a global airline to boost revenue and create jobs, a ruling party strategy report seen by Reuters on Wednesday shows. Muhammadu Buhari, who was sworn in as president of Africa's top oil producer and biggest economy on May 29, is considering...

  • JOHANNESBURG, June 29- Packed tightly at a row of graffitied desks in an overcrowded classroom, students at Masiqhakaze Secondary School near Johannesburg shiver as a chilly breeze blows through broken windows. In a 2015 report the World Economic Forum ranked South Africa last in the quality of mathematics and science education and close to last at 139 out of...

  • LAGOS, Nigeria— Nigeria's new president on Friday dissolved the board of the state oil company from which billions of dollars is missing, a move likely preceding an investigation. A statement from the head of the civil service, Danladi Kifasi, announced the presidential directive regarding the Nigerian National Petroleum Co., the government agency in charge...

  • Nigeria starts investigating crude oil swap contracts Saturday, 13 Jun 2015 | 4:16 AM ET
    A worker inspect facilities on an upstream oil drilling platform at the Total oil platform at Amenem, 35 kilometers away from Port Harcourt in the Niger Delta in 2009.

    Nigeria is probing whether it was short-changed by deals to swap crude for refined products, the state oil company, traders and a security source said.

  • Nigeria starts investigating crude oil swap contracts Saturday, 13 Jun 2015 | 2:32 AM ET

    ABUJA, June 13- Nigerian authorities have launched an investigation to determine whether the government has been short-changed by a state oil company scheme to swap crude for refined products, the company, three oil traders and a security source said. The contracts, known as offshore processing agreements are between Pipelines and Product Marketing Co, a...

  • Will President Buhari turn Nigeria around? Monday, 1 Jun 2015 | 2:20 AM ET
    Will President Buhari turn Nigeria around?

    Amy Jadesimi, managing director of Lile, says the Nigerian oil industry will benefit if President Buhari's plans to emphasize rule of law is delivered.

  • *Boko Haram firmly in new leader's sights. ABUJA, May 29- New Nigerian President Muhammadu Buhari promised on Friday to eradicate the "mindless, godless" militants of Boko Haram and rescue hundreds of women and children held captive, including 200 girls taken from the town of Chibok a year ago. In his inaugural address as elected leader of Africa's most populous...

  • *Boko Haram firmly in new leader's sights. ABUJA, May 29- New Nigerian President Muhammadu Buhari vowed on Friday to eradicate the "mindless, godless" militant group Boko Haram and rescue hundreds of women and children held captive, including 200 girls taken from the town of Chibok a year ago. In his inaugural address as elected leader of Africa's most populous...

  • Nigeria’s new president draws up tough to-do list Friday, 29 May 2015 | 12:21 PM ET
    Nigeria's Muhammadu Buhari

    Nigeria's new president was sworn in on Friday and faces a tough battle to diversify an economy reliant on oil and hampered by terrorism and corruption.

  • Nigeria needs to fix these energy issues Friday, 29 May 2015 | 11:40 AM ET
    Nigeria needs to fix these energy issues

    Bolaji Osunsanya, president of the Nigerian Gas Association and CEO of Oando Gas & Power, discusses the issues the new Nigerian president must address in the gas industry.

  • This country needs diesel to run its cellphones Monday, 25 May 2015 | 1:45 AM ET
    Nigeria's Muhammadu Buhari

    Nigeria's leading cellphone provider warns it needs diesel to prevent shutting down services countrywide.

  • ABUJA, May 19- Nigeria's central bank kept its benchmark interest rate at 13 percent on Tuesday, stressing the need to preserve foreign exchange reserves that have been depleted in recent months to support a weaker naira. At the bank's first policy meeting since the shock election victory of Muhammadu Buhari, who takes office as president on May 29, Governor...

  • DIARY- Emerging Markets Economic Events to May 28 Thursday, 14 May 2015 | 8:02 PM ET

    Greek Prime Minister Alexis Tsipras, Finance Minister Yanis Varoufakis, Deputy Finance Minister Dimitris Mardas, Economy Minister George Stathakis, Chief Executive of the European Financial Stability Facility and Deputy Director at the European Department at International Monetary Fund Pul Thomsen are among keynote speakers. PRAGUE- The "History of...

  • DIARY- Emerging Markets Economic Events to May 26 Tuesday, 12 May 2015 | 8:02 PM ET

    LONDON- Brazilian Finance Minister Joaquin Levy visits the United Kingdom and holds a press conference- 1645 GMT. SARAJEVO- Sarajevo Business Forum 2015. WASHINGTON- European Central Bank President Mario Draghi will give the Michel Camdessus Central Banking Lecture at the IMF- 0800 GMT.

  • DIARY- Emerging Markets Economic Events to May 25 Monday, 11 May 2015 | 8:02 PM ET

    LONDON- Brazilian Finance Minister Joaquin Levy visits the United Kingdom and holds a press conference- 1645 GMT. SARAJEVO- Sarajevo Business Forum 2015. WASHINGTON- European Central Bank President Mario Draghi will give the Michel Camdessus Central Banking Lecture at the IMF- 0800 GMT.

  • DIARY- Emerging Markets Economic Events to May 21 Thursday, 7 May 2015 | 8:02 PM ET

    BUCHAREST- Romania central bank Governor Mugur Isarescu presents the quarterly inflation report. LUSAKA- Bank of Zambia announces interest rate decision. ACCRA- Central bank of Ghana holds monetary policy meeting.

  • DIARY- Emerging Markets Economic Events to May 18 Tuesday, 5 May 2015 | 8:02 PM ET

    WASHINGTON- Federal Reserve Chair Janet Yellen and International Monetary Fund Managing Director Christine Lagarde participate in " Finance and Society" conversation before the Institute for New Economic Thinking Conference on Finance and Society hosted by the IMF- 1315 GMT. BUDAPEST- Central bank of Hungary publishes April policy meeting- 1200 GMT.

  • The 'Megacities' are coming, and they're voracious Thursday, 30 Apr 2015 | 2:09 PM ET
    San Paulo, Brazil.

    The New York metropolitan area gobbles up more energy than any other major city in the world, according to new research.

  • LAGOS, April 27- The road leading to the Lagos port, which handles nearly everything that Africa's biggest economy imports, is one of the most congested in a megacity whose traffic jams are legendary. Wide enough to accommodate only two lanes on either side, along it move the goods that Africa's top crude producer uses its huge oil receipts to buy-- everything from...

  • Nigeria's economy needs more diversification Wednesday, 22 Apr 2015 | 11:50 AM ET
    Nigeria's economy needs more diversification

    Dr. Akinwumi Adesina, Nigerian minister for Agriculture, says that Nigeria needs to continue to diversify its economy even more.