Winds that hinted at partially reversing the oil price rout appear to be dying down. A number of experts now see 2016 as another waiting game.» Read More
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 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...
Oyin Anubi, sub-Saharan Africa economist at Bank of America Merrill Lynch, explains why devaluing the naira impacts everyone within Nigeria.
Charles Robertson, global chief economist at Renaissance Capital, says investors are waiting for Nigeria’s currency to level out.
WASHINGTON- International Monetary Fund Managing Director Christine Lagarde will speak at the Brookings Institute- 1530 GMT. German Finance Minister Wolfgang Schauble, Luxembourg Finance Minister Pierre Gramegna, Polish Finance Minister Mateusz Szczurek and European Commission President Jean-Claude Juncker are the key speakers.
*Global oil price dive hurts Nigeria badly. ABUJA, Sept 17- Nigerian central bank Governor Godwin Emefiele ruled out a naira devaluation on Thursday and told people not to panic about a government order which risks draining billions of dollars from the financial system. Then JP Morgan kicked Nigeria out of its influential Emerging Markets Bond Index last week...
LAGOS/ LONDON, Sept 16- Already feeling the pinch from slumping oil prices and slowing economic growth, Nigerian companies are finding it increasingly hard to get hold of foreign currency due to central bank restrictions and may struggle to repay their debts. Since 2007, Nigerian financial and energy firms such as FBN Holdings and Seven Energy have issued more...
*Low-cost airlines launch, expand in Africa. Fastjet is among a wave of low-cost airlines launching or expanding operations in Africa as they seek to capture middle-income travellers who are tired of dangerous road journeys but cannot afford major international carriers. Where low-cost routes have opened in Africa, prices have dropped by around 40 percent...
China's yuan has stabilized, but risks remain for China's economy and currencies around the globe, says UBS's Jorge Mariscal.
*JP Morgan evicts Nigeria from key emerging market bonds index. LAGOS, Sept 9- Nigeria's stocks sunk on Wednesday after JP Morgan said it would eject Africa's biggest economy from its influential emerging markets bond index due to tough controls imposed to prevent a currency collapse. In a move that came earlier in the year than expected, JP Morgan said late on...
LAGOS, Sept 2- A year ago, computer science graduate Tolulope Komolafe was among the millions of young Nigerians unable to find full-time work. Fortunately, she was able to live with her brother in their Lagos home and avoid having to survive on her meagre income. Komolafe, 25, now works for Andela, a Lagos- based company that trains computer programmers and...
Saudi Arabia derives 80 percent of its revenue from oil and has a budgetary "break-even" point almost double the current per-barrel price of $40.
China's rocky stock market ride can benefit private equity players as companies seek funding from other sources, David Rubenstein says.
Helima Croft, RBC Capital Markets, discusses how cheap crude prices are impacting oil-focused economies and whether prices are headed lower from here.
The Earth will be quite a bit more crowded in 2050—with nearly 2.5 billion more people than now.
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.
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.
Adewale Tinubu, group CEO of Oando PLC, discusses oil prices, Nigeria's economy and how to stimulate domestic demand.
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.