Muhammadu Buhari News

Quick Guide for Those Who Can't Figure Out the Naira's Worth

Quick Guide for Those Who Can't Figure Out the Naira's Worth (Infographics)

Monetary policy officials unified some of their multiple exchange rates when they let currency dealers quote naira levels used in actual trades this month.

Remi Sonaiya, 2015 Presidential Candidate, KOWA Party

Is this leading lady Nigeria's next president?

Oluremi Sonaiya doesn’t mind being called a political outsider. In fact, she embraces the term.

Hadi Sirika, Nigeria's Minister of State on Aviation

Nigeria plans to set up national airline, develop aviation capacity

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 President Muhammadu Buhari (L) and Vice President Yemi Osinbajo

The Economist explains: The demand for Nigerian debt

Nigeria’s economy shrank by 1.5% in 2016, its first annual contraction in 25 years.

President of the Federal Republic of Nigeria Muhammadu Buhari (L) and Chinese President, Xi Jinping (R) shake hands during the signing ceremony at Great Hall of the People. Credit: Forbes/Kyodo News/Getty Images

How China's $60B for Africa will drive global prosperity: Amy Jadesimi, MD, LADOL

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.

Aliko Dangote, CEO, Dangote Group

Aliko Dangote: In for the long haul

Aliko Dangote, Africa’s richest man, is optimistic that the only place to invest in today is Africa.

Yemi Osinbajo, Nigeria's Vice President

Buhari's sick leave re-energizes Nigeria's presidency

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 asks Goldman and Stanbic to advise on diaspora bond debut

Nigeria asks Goldman and Stanbic to advise on diaspora bond debut

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.

Nigeria Could Teach the West a Few Things

Nigeria Could Teach the West a Few Things

A trip is often defined by its surprises, so here are my biggest revelations from six days in Lagos, Nigeria.

Amina Mohammed, Nigeria’s Minister of Environment and incoming Deputy Secretary-General of the United Nations

Nigeria's Amina Mohammed has been appointed UN Deputy Secretary-General

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.

She Leads Africa runs networking events in Lagos and Abuja, as well as Accra, Nairobi and Johannesburg. Credit: FT

African start-up helps and inspires young female entrepreneurs

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.

Nigeria's President Muhammadu Buhari. Credit: Yahoo/Pius Utomi Ekpei/AFP/Getty Images

Fool Nigeria Once, Shame on You. Fool Nigeria Twice ...

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.

There's still room for growth. Credit: qz.com/Reuters/Akintunde Akinleye

The "Africa Rising" story isn't over yet, despite China's slowdown and flagging growth in Nigeria and South Africa

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.

Okechukwu Enelamah, Nigeria's Minister of Industry, Trade and Investment (L) and Natalie Kolbe, Partner & Co-Head of Private Equity at Actis

An Enabling Enterprise Environment And Accountability Are Key For Nigeria's Long Term Future: Okechukwu Enelamah, Nigeria's Minister Of Industry, Trade & Investment And ACA Co-Founder & Former CEO

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.

General Electric to invest $150 million in Nigeria

General Electric to invest $150 million in Nigeria

U.S. industrial firm General Electric plans to invest around $150 million in Nigeria by 2017, a senior executive said on Monday.

Nigeria's Startups Get Boost from Buhari, Zuckerberg

Nigeria's Startups Get Boost from Buhari, Zuckerberg

Nigeria has a growing technology scene full of ambitious young entrepreneurs who are seeking out solutions to various social challenges.

World Scrabble champion Wellington Jighere, 33, (right) is one of Nigeria's many masters. His strategy: "When you are expecting me to do the traditional thing, I will just choose to do something that is uncharacteristic."

Fact of the Day: Nigeria is the number one scrabble nation in the world (Audio)

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.

Wakaa! explores themes including emigration of young Nigerians. U.S. and British universities are very popular with Nigerian students, who often look abroad for better economic opportunities. Credit: Jermaine Sanwoolu/newsweek.com

Nigerian musical Wakaa! targets Broadway after successful London stint

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.

Abuja, Nigeria

Abuja, Nigeria's original startup city is making a big play for Africa's young tech entrepreneurs

When most people think of Nigeria having an ecosystem of innovation and technology they instinctively think of Lagos, and understandably so.

Charles Robertson, Global Economist, Renaissance Capital

The outlook for frontier markets in Africa (Video): Charles Robertson, Global Economist, Rennaisance Capital

RenCap’s Global Economist Charles Robertson discusses frontier markets and the economic outlook for various nations in Africa.

Elnathan John, Author of "Born on a Tuesday"

I want to show that things are never simple: Elnathan John, Author of the novel "Born on a Tuesday"

The Nigerian writer and satirist on his first novel, Born on a Tuesday, a study of a young man caught up in Islamic fundamentalism.

Davido

How Davido Became African Pop Music's Fortunate Son

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, President and Chief Executive Officer of Dangote Group and Co-Chair of the World Economic Forum (WEF) Annual Meeting 2014, speaks during a session at the WEF in Davos January 22, 2014.

Africa's richest man Dangote makes bid to acquire controlling stake of Peugeot Nigeria

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.

Emmanuel Ibe Kachikwu, Nigeria’s Minister of State for Petroleum Resources and NNPC’s Group MD. Credit: sweetcrudereports.com

Nigeria aims to end refined petroleum imports within 18 months, says Kachikwu

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.

Lagos, Nigeria

There is much to like in Nigeria, says RenCap's Chief Economist Charles Robertson

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.

Mo Abudu, who abandoned a high-flying career in the corporate world to run a television studio. Photograph: SundayAlamba/AP

The Lagos power list: 21 people in 21 million

Lagos, a megacity home to an estimated 21 million people, is Nigeria’s cultural and political powerhouse.

The IVM G5 by Innoson Vehicle Manufacturing (IVM)

Nigeria's automotive industry shifts into high gear

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).

Kayode Fayemi, Nigeria's Minister of Solid Minerals Development

Nigeria to revive $4.5B Ajaokuta steel mill in 2016, says Solid Minerals Minister Fayemi

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.

Sanusi Lamido Sanusi (Muhammadu Sanusi II), Emir of Kano and former Governor of Nigeria's Central Bank

Nigeria's former Central Bank Governor Lamido Sanusi criticizes President Buhari's currency policy

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.

Muhammadu Buhari, President of Nigeria

Nigeria seeks $3.5B in loans from World Bank & AfDB

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 open to deal with mobile group MTN over $3.9B fine

Nigeria open to deal with mobile group MTN over $3.9B fine

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.

Lagos, Nigeria

Economists share their 2016 outlook for Nigeria, Kenya and South Africa

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.

IMF Managing Director Christine Lagarde watches children perform a dance in Abuja during her visit to Nigeria. Photograph: IMF via Getty Images

It's naira or never - Nigeria needs decisive action on its currency: Oluseun Onigbinde, Co-Founder, BudgIT

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.

Goodluck Jonathan, former President of Nigeria; and Muhammadu Buhari, President of Nigeria

High life over for Nigeria's 'Big Men' as crackdown looms on big entourages and VIP travel

New president bans from politicians from first-class flights and employing crowds of hangers-on at public expense.

The African Union meets in Johannesburg, South Africa. Credit: ft.com

Ambitious plans promise surge in African commerce

When the US, Japan and 10 other economies recently sealed the deal on a vast new Pacific Rim trading bloc, they made front page headlines around the world.

A money changer counts Nigerian Naira at a bureau de change (AP Photo/Sunday Alamba)

Nigeria: 'The Boom Isn't Over, It's Still To Come'

Muhammadu Buhari’s honeymoon period as Nigerian president is well and truly over.

Amy Jadesimi, MD, LADOL

Returnee Amy Jadesimi in quest for bigger role in Nigeria's energy industry

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.

Nissan Pathfinder: Nissan is one of the car makers that recently started building cars in Nigeria.

Nigeria Targets 80% Local Manufacturing in Auto Industry

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.

Kemi Adeosun, Nigeria’s new Finance Minister, takes office before President Muhammadu Buhari

Party barons on notice as President Buhari puts voters first

As the epicentre of political life in Nigeria, the Hilton hotel in Abuja can usually be relied upon to reflect prevailing trends.

Budget savvy: Yemi Osinbajo, Nigeria’s Vice President, is curbing spending.

Overhaul of Nigeria's government agencies aims to end excess

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.

Compelling investment markets in Africa. Credit: sc.com

Nigeria offers investors a unique opportunity for strong long-term growth: Global X MSCI Nigeria ETF (Infographics)

Nigeria is currently offering investors a unique long-term growth opportunity at a great value through the Global X MSCI Nigeria ETF (NGE).

Kemi Adeosun, Nigeria's new finance minister, during the cabinet swearing-in ceremony in Abuja this month

Nigeria's finance minister makes non-oil revenues top priority

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.