Nigeria has appointed advisers to help it set up a national airline and develop its aviation infrastructure — currently seen as a barrier to economic growth — to create a hub for West Africa, junior aviation minister Hadi Sirika said earlier this month.
Nigeria’s economy shrank by 1.5% in 2016, its first annual contraction in 25 years.
As a long-term investor and developer of infrastructure in West Africa, I have been tracking China’s courtship of African nations over the last decade.
When protesters marched on Nigeria’s presidential villa earlier this month to complain about a biting recession, they were not repelled by baton-wielding policemen, the usual fate for anyone arriving uninvited at the gate of the country’s power center.
Nigeria has asked Goldman Sachs and the local unit of South Africa’s Standard Bank to advise it on the sale of a debut “diaspora bond” targeted at Nigerians living abroad, Stanbic IBTC Bank said on Monday.
Since taking office in May 2015, Nigeria’s president Buhari has come under criticism not just for his handling economy but also for a seemingly under-performing cabinet.
In Zambia, one of their blogs is the undisputed arbiter of style. In South Africa, one of their apps is the gateway to private beaches and pop-up dining.
It’s been a tough year for Nigerian President Muhammadu Buhari. The mood in Africa’s most populous nation is a far cry from the euphoria that greeted his historic 2015 election.
The idea that African economies are on the way up first became popular around 2010, buoyed by a commodities boom and improved governance across the continent. Now, with flat commodity prices and slowing demand from China, the narrative of “Africa Rising” has mostly fallen out of fashion.
Actis, a leading growth markets investor, hosted over 200 senior public and private sector decision makers in Lagos at Heritage Place in Ikoyi to share Actis’ perspectives on the Africa opportunity and potential for Nigeria.
U.S. industrial firm General Electric plans to invest around $150 million in Nigeria by 2017, a senior executive said on Monday.
Nigeria has a growing technology scene full of ambitious young entrepreneurs who are seeking out solutions to various social challenges.
Nigeria is the English-speaking world’s Scrabble superpower. Africa’s most populous nation is home not only to the global Scrabble champion, but team Nigeria ranks as the world’s top Scrabble playing nation — ahead of the U.S. in second place.
As the curtain falls on the first Nigerian musical to make the leap to a London theater, its executive producer is setting her sights higher still.
When most people think of Nigeria having an ecosystem of innovation and technology they instinctively think of Lagos, and understandably so.
RenCap’s Global Economist Charles Robertson discusses frontier markets and the economic outlook for various nations in Africa.
The Nigerian writer and satirist on his first novel, Born on a Tuesday, a study of a young man caught up in Islamic fundamentalism.
Once, while on a Greyhound layover in Birmingham, Alabama, David Adedeji Adeleke, the Nigerian pop star now better known as Davido, spotted a familiar face on the CD rack of a bus station rest stop.
Aliko Dangote, Africa’s richest man, has teamed up with two Nigerian states to bid for a majority stake in Peugeot Automobile Nigeria (PAN) Limited, a local joint venture with the French automaker, the governor of Kaduna State said on Thursday.
Nigeria, Africa’s top oil producer, wants to remove the need for imported petroleum products within 18 months, Minister of State for Petroleum Emmanuel Ibe Kachikwu said on Tuesday.
We have always maintained that Nigeria’s future does not lie with oil, and are encouraged by the high quality government team that is pushing hard for diversification.
In late 2013, the administration of then-President Goodluck Jonathan made a bold bet: that it could jumpstart the country’s ailing automotive industry through a comprehensive—and controversial— industrial policy, known as the National Automotive Industry Development Plan (NAIDP).
Nigeria is aiming to hand over the $4.5 billion Ajaokuta steel complex to private operators this year as part of a plan to kick start its industrial and mining industries, Kayode Fayemi, the country’s minister of Solid Minerals Development, said.
Respected former head of Nigeria’s Central Bank Lamido Sanusi has said the government should end its policy of trying to maintain the value of the currency, the naira.
Nigeria’s government is in talks for concessionary loans worth $3.5 billion from the World Bank and African Development Bank to help finance a planned record budget this year, Finance Minister Kemi Adeosun said.
Nigeria is open to an amicable out-of-court settlement with South Africa’s MTN over a $3.9 billion fine imposed on the cell phone operator, a top regulatory official said on Wednesday.
These are the global economic realities that will continue to shape African markets in 2016. Strong US dollar. Low oil and commodity prices. Slowing Chinese growth.
When Christine Lagarde, the managing director of the International Monetary Fund, visited Nigeria this week, she called for more flexibility on the exchange rate, encouraging those who believe the naira could be devalued again very soon.
New president bans from politicians from first-class flights and employing crowds of hangers-on at public expense.
Muhammadu Buhari’s honeymoon period as Nigerian president is well and truly over.
While the collapse in oil prices might seem like unequivocally bad news for Nigeria’s energy industry, there is one Lagos-based executive who sees only opportunity.
Nigeria plans to raise the portion of local manufacturing in the automotive industry to 80 percent by 2023 as Africa’s most populous country seeks to cut imports and diversify the economy away from oil, the industry regulator said.
As the epicentre of political life in Nigeria, the Hilton hotel in Abuja can usually be relied upon to reflect prevailing trends.
As well as being a professor of law, Nigeria’s new vice-president Yemi Osinbajo is a Christian pastor who preached at the same Evangelical church in Lagos as the new trade, investment and industry minister, Okechukwu Enelamah.
Nigeria is currently offering investors a unique long-term growth opportunity at a great value through the Global X MSCI Nigeria ETF (NGE).
Nigeria’s new finance minister said raising non-oil revenues was her top priority, as the slump in oil prices continues to take its toll on Africa’s biggest crude exporter.