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Europe Top News and Analysis Nigeria


  • LAGOS, Nigeria— The chairman of Nigeria's corruption-fighting Economic and Financial Crimes Commission is appearing before the Senate to answer accusations that he diverted billions of dollars. The accusations come as the commission has been pursuing new President Muhammadu Buhari's pledge to stamp out Nigeria's rampant corruption.

  • Nigeria to introduce new rules to stop tax evasion Friday, 7 Aug 2015 | 12:52 PM ET

    LAGOS, Aug 7- Nigeria's Federal Inland Revenue Service said on Friday it would crack down on tax evaders by denying access to banking facilities for individuals and companies that failed to join its register. FIRS chairman Sunday Ogungbesan told a news briefing in Lagos there were more more than 440,000 companies in the country, which has Africa's biggest...

  • JOHANNESBURG, Aug 5- Africa's top mobile phone operator, MTN Group, gave a downbeat outlook for Nigeria, its biggest market, on Wednesday after losing high-end users to Gulf rival Etisalat. South Africa- based MTN, which reported a 10 percent decline in first-half earnings, is fighting to maintain its lead in Nigeria ahead of competitors such as Etisalat and...

  • U.S. fund managers tapping into African beer market Tuesday, 4 Aug 2015 | 3:25 PM ET

    Aug 4- Forget Milwaukee and Brooklyn- Lagos and Dar es Salaam are the new brewery hot spots, according to U.S. mutual fund managers as they tap Africa's emerging beer companies in pursuit of long-term returns on investment. Africa is expected to see the largest increase in the legal drinking age population by 2018, while in western Europe and North America, the...

  • ABUJA, Aug 4- Nigeria's President Muhammadu Buhari appointed a new group managing director of the state oil firm on Tuesday, a statement from the presidency said. Emmanuel Ibe Kachikwu was named as the new head of the Nigerian National Petroleum Corporation, which has been accused of failing to account for billions of dollars in the last few years.

  • Nigeria tech enclave springs up in Lagos suburb Monday, 27 Jul 2015 | 7:52 AM ET

    LAGOS, July 27- At first glance, Yaba is like many other parts of Nigeria's sprawling commercial capital: a cacophony of car horns and shouting street vendors, mingling with exhaust fumes and the occasional stench of sewage. But in between the run-down buildings in this seemingly inauspicious part of Lagos, a city of around 21 million, tech start-ups are taking...

  • Ebola: Out of the news but still hitting Africa Thursday, 23 Jul 2015 | 8:58 AM ET
    A crowd enters the grounds of an Ebola isolation center in the West Point slum in Monrovia, Liberia.

    Ebola briefly returned to the headlines this week with a scare at a hospital in New York, but the deadly virus continues to claim victims in West Africa.

  • DIARY-Emerging Markets Economic Events to Aug 4 Tuesday, 21 Jul 2015 | 8:01 PM ET

    PRETORIA- South African Reserve Bank interest rate decision- 1300 GMT. ANKARA- Central Bank of Turkey to hold monetary policy committee meeting to set interest rates. JERUSALEM- Bank of Israel interest rate decision- 1330 GMT.

  • ABUJA, July 14- The four grey towers that form the headquarters of Nigeria's state oil company in the dusty capital, Abuja, feature tinted windows as opaque as the organisation inside, accused of failing to account for tens of billions of dollars. President Muhammadu Buhari, the 72- year-old sandal-wearing ascetic who swept to power this year on an...

  • Has the sun set on Africa’s growth story? Monday, 13 Jul 2015 | 1:51 AM ET
    Employees of a cocoa export company pile up sacks in a packaging factory in the Ivory Coast.

    Sub-Saharan Africa has been the darling of frontier market investors for several years. However, a combination of factors could see its appeal for investors wane.

  • JOHANNESBURG, July 10- The Nigerian government's ambitions for improving electricity supplies are "not remotely realistic", a report by experts advising the presidency says, an early blow to one of President Muhammadu Buhari's most important reform promises. Chronic power shortages are one of the biggest constraints on investment and growth in Africa's...

  • *Good African plans cafes in Washington, London. From his outlets in Kampala, Rugasira wants to expand his Good African Coffee cafes to Washington DC, London, and other African capitals. The idea is to sell cappuccinos and lattes with a' Made in Africa' story to draw customers who might otherwise go to America's Starbucks or Britain's Costa.

  • 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...

  • Iran deal will cause a temporary oil price dip: CEO Wednesday, 24 Jun 2015 | 11:35 AM ET
    Iran deal will cause a temporary oil price dip: CEO

    Adewale Tinubu, group CEO of Oando PLC, discusses oil prices, Nigeria's economy and how to stimulate domestic demand.

  • 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...

  • Blackstone hire part of big Nigeria push Thursday, 11 Jun 2015 | 3:26 PM ET
    Lamido Sanusi, former governor of Nigeria's central bank.

    Blackstone Group has strengthened its ties to Nigeria, the West African country where it could put big money to work.

  • Twitter gave Nigeria an early Ebola warning Friday, 5 Jun 2015 | 1:38 PM ET
    Red Cross workers carry away a person suspected of dying from Ebola, in the Liberian capital Monrovia, on October 4, 2014.

    Twitter may be able to help control disease outbreaks even in developing countries in Africa, a study suggests.

  • Diamond: Africa is a very exciting opportunity Wednesday, 3 Jun 2015 | 11:45 AM ET
    Diamond: Africa is a very exciting opportunity

    Bob Diamond, founder of Atlas Mara and former chief executive of Barclays, discusses investing in Africa.