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Europe Top News and Analysis Nigeria

  • CAPE TOWN, April 12- Africa's biggest grocery retailer Shoprite is considering a push into Eastern Europe, where it hopes to use knowledge gleaned from former suitor Steinhoff International, its new CEO told Reuters. Engelbrecht, who took over from 37- year veteran Whitey Basson in January, said the company wants to enter markets in Eastern Europe that either "...

  • LONDON, April 11- Royal Dutch Shell was aware that some of the payments it made to Nigeria for rights to an oilfield under a 2011 deal would go to a company associated with former Nigerian oil minister and convicted money launderer Dan Etete, it said in a statement to Reuters. Shell spokesman Andy Norman said the group "always knew" the Nigerian government would...

  • LONDON, April 11- Royal Dutch Shell has said it knew that some of the payments it made to Nigeria for the rights to an oilfield would go to Malabu Oil and Gas, a company associated with a former Nigerian oil minister and convicted money launderer. The statement comes amid mounting pressure over the deal, in which Shell and Italy's Eni paid $1.3 billion for the rights...

  • WASHINGTON/ ABUJA, April 10- President Donald Trump's administration is pushing forward with plans to sell up to a dozen aircraft to Nigeria's air force for the fight against the extremist group Boko Haram, sources said on Monday, in a deal that could be worth up to $600 million. A second production line is in Florida, in a partnership between Embraer and privately...

  • WASHINGTON/ ABUJA, April 10- President Donald Trump's administration is pushing forward with plans to sell up to a dozen aircraft to Nigeria's air force for the fight against the extremist group Boko Haram, sources said on Monday, in a deal that could be worth up to $600 million. A second production line is in Florida, in a partnership between Embraer and privately...

  • ABUJA, April 10- Nigeria's Mosimi oil depot has resumed loading after almost a year, when a major pipeline was vandalised last May, the state oil company said on Monday. The resumption of loading could help the Nigerian National Petroleum Corporation cut losses that stemmed from the damage, as trucks had to drive from Lagos to replace the pipeline, said Maikanti...

  • *Nigeria in first recession in 25 years. *Nigeria authorities concerned about IMF view- IMF. ABUJA, April 5- The International Monetary Fund warned Nigeria its economy needs urgent reform in a report published on Wednesday that highlighted the risks to growth for the recession-hit country and the dangers of a volatile foreign exchange market.

  • *Nigeria in first recession in 25 years. *Nigeria authorities concerned about IMF view- IMF. ABUJA, April 5- The International Monetary Fund warned Nigeria its economy needs urgent reform in a report published on Wednesday that highlighted the risks to growth for the recession-hit country and the dangers of a volatile foreign exchange market.

  • ABUJA, April 5- The International Monetary Fund warned Nigeria its economy needs urgent reform in a report published on Wednesday that highlighted the risks to growth for the recession-hit country and the dangers of a volatile foreign exchange market. The document, a report from IMF staff which Reuters saw an earlier version of last month, outlines a raft of...

  • LONDON, March 31- Legislation paving the way for the eventual listing of shares in the Nigerian Stock Exchange should be passed this year with the government supporting the move, the bourse's chief executive Oscar Onyema said on Friday. Firstly, parliament has to introduce legislation to transform the bourse into a company limited by shares, Onyema said on the...

  • *Benin acts as "warehouse" for protectionist Nigeria. *Re-exports of used cars from Benin to Nigeria slump. COTONOU/SEME, Nigeria, March 30- On the outskirts of Benin's port city of Cotonou, thousands of used cars fill a vast parking lot but the merchants who used to come here from Nigeria to haggle for them are absent as recession bites at home.

  • ABUJA, March 29- A consortium led by General Electric submitted the only bid for a Nigerian railway concession project worth around $2 billion for two lines connecting northern cities to others in the south, a procurement process adviser said on Wednesday. The only bid, led by GE, was in partnership with Transnet of South Africa, Dutch-based APM Terminals and...

  • ABUJA/ LAGOS, March 29- Nigeria's national assembly has approved a $500 million Eurobond sale, the finance minister said on Wednesday, an attempt to plug the yawning budget deficit. The government, which plans to increase public spending by almost 20 percent this year with a deficit of 2.36 trillion naira, sought the go-ahead for a new issue after raising an...

  • LAGOS, March 28- Nigeria's central bank has set a new naira rate for retail exchange bureaus to sell dollars to consumers, the head of the bureau association told Reuters on Tuesday. Nigeria has several exchange rates-- the official one, the black market, a rate for Muslim pilgrims going to Saudi Arabia and a rate for foreign travel, school and medical fees.

  • ABUJA, March 24- Nigeria's state oil company said on Friday it was set to recover $184 million in crude oil swap under-deliveries recorded against three oil companies during the now defunct crude for product swap system. The Nigerian National Petroleum Corporation is in the process of reconciling transactions made as part of the defunct system, Group...

  • *IMF says further actions "urgently needed" to boost Nigeria economy- report. *Nigeria is in first recession in 25 years. ABUJA, March 24- The International Monetary Fund is expected to warn Nigeria its economy needs urgent reform, according to a report seen by Reuters that could delay talks over $1.4 billion in much-needed international loans.

  • Residents of the Muna camp, near Maiduguri, tend to a blast victim on March 22, 2017.

    Multiple blasts at camps for people who have fled the Islamist militants Boko Haram killed four and injured 18 in Maiduguri, Nigeria.

  • LONDON, March 21- Singapore remains the world's most expensive city to live in, a study showed on Tuesday, with two Japanese cities-- Tokyo and Osaka-- returning to the top 10 thanks to the strengthening of the yen. Almaty in Kazakhstan was the least expensive, followed by Lagos in recession-hit Nigeria. Europe was represented in the top 10 by four cities-- Zurich at three,...

  • LONDON, March 21- Singapore remains the world's most expensive city to live in, a study showed on Tuesday, with two Japanese cities-- Tokyo and Osaka-- returning to the top 10 thanks to the strengthening of the yen. Almaty in Kazakhstan was the least expensive, followed by Lagos in recession-hit Nigeria. Europe was represented in the top 10 by four cities-- Zurich at three,...

  • LONDON, March 21- Singapore remains the world's most expensive city to live in, a study showed on Tuesday, with two Japanese cities-- Tokyo and Osaka-- returning to the top 10 thanks to the strengthening of the yen. Almaty in Kazakhstan was the least expensive, followed by Lagos in recession-hit Nigeria. Europe was represented in the top 10 by four cities-- Zurich at three,...