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  • The OPEC countries hit hardest by low oil prices Thursday, 3 Dec 2015 | 1:19 PM ET
    Oil workers conduct a drill in a petroleum well in Lagunillas at the east coast of Lake Maracaibo near Maracaibo City in Venezuela.

    Plunging oil prices have left many crude-exporting countries with budgets that simply won't balance.

  • JOHANNESBURG, Dec 3- MTN Group will lobby for further reductions to a fine imposed by Nigeria, a source familiar with the matter said, after authorities in its biggest market cut the penalty by more than a third on Thursday to $3.4 billion. The Nigerian Communications Commission handed Africa's biggest mobile phone company a $5.2 billion penalty in October...

  • *Protest movement demands independent Biafra. ENUGU, Nigeria, Nov 30- Nearly half a century after a civil war in which a million people died, 27- year-old Okoli Ikedi is part of a new protest movement in southeastern Nigeria calling for an independent state of Biafra. It's another challenge for President Muhammadu Buhari, who is grappling with a sharp slowdown in...

  • ABUJA, Nov 19- The governors of Nigeria's 36 states said on Thursday they support the telecom regulator in imposing a $5.2- billion fine on South African telecom group MTN for failing to disconnect unregistered lines. The penalty, imposed on Africa's biggest mobile phone group in its largest market by sales, amounts to more than the past two years of MTN profits...

  • DIARY-Emerging Markets Economic Events to Dec 1 Wednesday, 18 Nov 2015 | 7:02 PM ET

    THURSDAY, NOVEMBER 19 BELGRADE- Presentation of the IMF European Department's Fall 2015 Regional Economic Issues Report on Central, Eastern and Southeastern Europe. PRETORIA- The South African Reserve Bank announce interest rate decision- 1300 GMT. FRIDAY, NOVEMBER 20 SEOUL- Bank of Korea Governor Lee Ju-yeol will chair a regular meeting with the heads of...

  • ABUJA/ JOHANNESBURG, Nov 15- South African mobile phone firm MTN Group denied on Sunday that it has asked the Nigerian authorities to be allowed to pay by installments a $5.2 billion fine due on Monday. Earlier a source at the Nigerian Communications Commission had said that MTN had asked to be allowed to stagger the payment. Nigeria has been pushing...

  • ABUJA, Nov 11- Nigeria's President Muhammadu Buhari appointed former investment banker Kemi Adeosun as finance minister on Wednesday as he swore in 36 members of his long-awaited cabinet. Okechukwu Enelamah, who headed Nigeria's biggest private equity firm African Capital Alliance, was named minister for industry, trade and investment.

  • ABEOKUTA, Nigeria, Nov 3- The pothole-ridden roads that connect Lagos, Nigeria's bustling commercial capital, with Adeniyi Bunmi's leafy farm in southwestern Ogun state are among the many challenges faced by the entrepreneur. The poor transport infrastructure in Africa's most populous nation is one of the major obstacles in the way of President Muhammadu...

  • JOHANNESBURG, Nov 2- South Africa's bourse briefly suspended trading in telecoms firm MTN Group on Monday, after the stock fell as much as 8 percent as Africa's largest mobile telecoms operator battles to reduce a $5.2 billion fine it faces in Nigeria. The stock has fallen more than 25 percent in the past seven sessions, wiping in excess of 60 billion rand off its...

  • Building on Nigeria's pensions Thursday, 29 Oct 2015 | 12:40 PM ET
    Building on Nigeria's pensions

    Chinelo Anohu-Amazu, director general of the National Pension Commission of Nigeria, discusses the pension reform act in the country.

  • Without a cabinet, Nigeria is stuck "on hold" Friday, 23 Oct 2015 | 8:48 AM ET

    *Senate wrangling delays cabinet nominations. Late on Thursday, the Senate ended yet another session screening Buhari's ministerial candidates without giving its approval, leaving Africa's biggest economy with no government since the former military ruler took office on May 29. Buhari has launched the first steps to reform the oil sector in Africa's...

  • When will Nigeria's economy take off? Friday, 23 Oct 2015 | 2:30 AM ET
    When will Nigeria's economy take off?

    Herbert Wigwe, CEO of Access Bank, says the Nigerian government is introducing changes that will ensure long-term, sustainable grown in the economy.

  • *World Bank praises Ghana economic reform plan. ACCRA, Oct 16- Nigeria has deferred a plan to slash gas exports to Ghana beginning Friday over an outstanding debt of $181 million, alleviating a threat that could have worsened electricity blackouts and caused another headache for the government. Ghana gets around 25 percent of its power through gas from Nigeria...

  • *More veterans than technocrats in new cabinet. ABUJA, Oct 15- Nigeria's President Muhammadu Buhari has chosen a cabinet dominated by political veterans, opting to strengthen his power base rather than surround himself with technocrats who could overhaul Africa's biggest economy. Most Nigerians live in poverty despite the enormous oil wealth of Africa's...

  • ABUJA, Oct 14- Nigerian President Muhammadu Buhari has taken his first steps towards overhauling the troubled state oil firm by giving its exploration joint ventures control over their own budgets as a way to overcome chronic cash shortages. Corruption and mismanagement at the Nigerian National Petroleum Corporation have hampered an industry that...

  • ABUJA, Oct 6- Nigeria has arrested the chairman of a local oil firm, a security official said on Tuesday, as part of a widening graft investigation in Africa's biggest petroleum producer that has also netted former oil minister Diezani Alison-Madueke. Days after British police detained Alison-Madueke, one of Africa's most powerful women, the official said...

  • Strategist: Don't touch emerging markets just yet Monday, 28 Sep 2015 | 5:09 PM ET
    A worker inspect facilities on an upstream oil drilling platform in Nigeria.

    It's too soon to be investing in emerging markets amidst a commodity collapse, says David Spika of Guidestone Capital Management.

  • Oil sector 10% Nigeria's GDP Monday, 28 Sep 2015 | 1:55 PM ET
    Oil sector 10% Nigeria's GDP

    Nigerian billionaire Folorunsho Alakija, is the richest self-made woman in Nigeria. Alakija provides insight to the impact of the drop in oil prices, on Nigeria's state of business and economy.

  • Nigerian companies being forced to shutdown Friday, 25 Sep 2015 | 8:00 AM ET
    Nigerian companies being forced to shutdown

    Nigerian companies making anything from soap to tomato paste could run out of raw materials and be forced to shut down as Africa's top oil producer banned the import of almost 700 goods.

  • *Nigeria imposes forex controls, bans import of 680 items. Many items on the central bank list- ranging from incense and toothpicks to plywood, glass and steel products-- are not available in Nigeria in sufficient volumes. While Nigeria grows a lot of tomatoes, transport is poor and it lacks facilities to produce the concentrate needed by factories making tomato...