Nigeria News

Lagos, Nigeria

Uber and its rivals are struggling to keep both drivers and riders happy in Lagos

It was only a year ago that Uber declared that its Lagos market was potentially bigger than its London market.

Wizkid

How Nigeria's Wizkid fashioned a new sound that won global appeal

He has a staggering seven nominations at the Billboard Music Awards and will come to the UK to headline festivals this summer.

Igho Sanomi, Founder & Chairman, Taleveras Group

How 42-year old Nigerian oilman Igho Sanomi built a commodities trading giant

Igho Sanomi, 41, is the founder of Taleveras, a $2 billion (revenues) international commodities trading company active over a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas and power.

The first three books Cassava is publishing in the US. Credit: Cassava/Quartz

Nigerian book publisher Cassava Republic is opening shop in the US

For eons, piracy in African book publishing has been something that booksellers lived with and factored in as part of the climate of doing business.

Nigerians would rather have a .com web address than .ng—and not just because it’s cheaper. Credit: AP/George Osodi/qz.com

Nigerians would rather have a .com web address than .ng - and not just because it's cheaper

On the internet, Nigerians are opting for more global identities through web addresses.

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.

Rate cuts & healthy FX reserves pave way for next bull run in Africa's markets

Rate cuts & healthy FX reserves pave way for next bull run in Africa's markets: Ryan Hoover, Portfolio Manager, Africa Capital Group

The sorry state of South African governance may be dominating headlines, but a closer inspection of Africa’s financial news reveals a heartening trend in the continent’s frontier economies.

FIFA confirms nine places for Africa at 2026 World Cup

FIFA confirms nine places for Africa at 2026 World Cup

Africa could have as many as 10 teams competing at the 2026 World Cup after the allocation for places at the expanded 48-nation competition was ratified by the FIFA Council during their meeting in Bahrain.

Media Eghbal, Head of Countries' Analysis, Euromonitor International. Credit: LinkedIn

Top 3 Largest Markets in Sub-Saharan Africa (Audio): Media Eghbal, Head of Countries' Analysis, Euromonitor International

Sub-Saharan African economic growth is expected to pick up in 2017 after reaching the lowest level in 22 years in 2016.

Chevrolet Volt

Chevy Volt's designer, Jelani Aliyu, has been appointed boss of Nigeria's automobile agency (Infographic)

Nigeria’s government has long talked about diversifying its oil-dependent economy but it’s actions have not always matched the bluster.

Anthony Joshua

Anthony Joshua: Fighting for Britain but fueled by Nigeria (by Chibundu Onuzo)

The champion’s origins are spelt out in his tattoo and his liking for pounded yam and egusi. But while he’s on the rise, the British press probably won’t report it.

Nigeria's Cars45 closes $5M round to digitize Africa's used autos markets

Nigeria's Cars45 closes $5M round to digitize Africa's used autos markets

Africa’s startup boom is moving into the used-vehicle space. Nigeria based Cars45.com raised a $5 million Series A round from the Frontier Cars Group, a holding company whose backers include Balderton Capital, EchoVC, TPG Growth, and NEA.

Rob Shuter, CEO, MTN Group

MTN's new CEO starts job committing to investment in largest markets of Nigeria and South Africa

First-quarter sales rose 7.1 percent boosted by Nigeria and Iran. Carrier still has ‘work to do’ to meet full-year targets

World Bank launches program, XL Africa, to support Africa’s top tech entrepreneurs. Credit: infodev.org

World Bank launches program, XL Africa, to support Africa's top tech entrepreneurs

With support from prominent African investment groups, XL Africa will help 20 selected startups attract early stage capital of between $250,000 and $1.5 million.

Shoprite

Africa growth to rebound in 2017: Africa Capital Group (Infographic)

After the U.S. election in November, many Africa investors became concerned that a move toward a more isolationist trade policy in the U.S. would hinder business, trade and capital flows to and from Africa.

An Ethiopian Airlines plane arriving in the Nnamdi Azikiwe International Airport Abuja on Tuesday, the first flight after rehabilitation of the runway. Credit: Albert Otu/ICE/NAN/premiumtimesng.com

Nigeria reopens Abuja airport after completing runway repairs 24 hours ahead of schedule

Nigeria’s international airport in the capital, Abuja, has formally reopened after six weeks of urgent repairs to its runway.

Aliko Dangote, CEO, Dangote Group

Africa's richest man promises to list refinery on Nigerian Stock Exchange

Aliko Dangote, the founder of the Dangote Group, has promised to list his Dangote Refinery on the Nigerian Stock Exchange.

Two Rivers Development, Nairobi, Kenya

Listed Real Estate in Eastern Africa and Beyond: What Next?

East African property markets have demonstrated desirable levels of resilience over the past few years.

Lidya

Leading Nigerian fintech startup Lidya closes $1.25M seed funding round

Lidya, a leading fintech platform based in Nigeria, announced in late March that it has closed a US$1.25 million seed funding round to further its mission of easing access to finance for small and medium enterprises (SMEs) across Africa.

Aigboje Aig-Imoukhuede,Nigeria, President of the Nigerian Stock Exchange (NSE) Council

The Nigerian Stock Exchange gets green light for public listing

The Nigerian Stock Exchange (NSE) has been given a green light by its members to become a publicly listed company, it said on Thursday.

Nollywood star Linda Ejiofor. Credit: Ike Ude/qz.com

Nollywood is giving the world a taste of true African glamour

Last month the romantic comedy The Wedding Party became the first movie from Nigeria’s growing film industry to break 400 million naira ($1.3 million).

Mo Abudu, Founder & CEO, EbonyLife TV. Credit: CNN

Mo Abudu: The Nigerian media mogul building a global empire (Video)

How do you get from a talk show sofa to boardroom chair? If you ask Mosunmola “Mo” Abudu, it’s being motivated by an eagerness to dispel ignorance – more specifically about Africa.

Lagos, Nigeria

Lagos is Africa's most valuable startup ecosystem

Lagos has the most valuable startup ecosystem in Africa, with the local entrepreneurship scene worth US$2 billion, according to a new report.

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.

Aliko Dangote (L) poses for a selfie picture with Director General of BPI Nicolas Dufourcq

Africa's richest man Aliko Dangote to invest $700M to create West Africa's largest sugar plantation

Africa’s richest man, Aliko Dangote plans to invest $500 million in establishing a sugar processing facility in Nasarawa State, Nigeria.

Ecobank Mobile

Ecobank targets 700% customer growth from mobile banking

Ecobank expects its new digital banking platform to help to boost its customer base across the continent to 100 million from 13 million by 2020.

Top 3 Mortgage Growth Markets in 2017 - Egypt, Algeria and Nigeria

Egypt, Algeria and Nigeria are the top 3 mortgage growth markets in 2017: Euromonitor

Euromonitor International has identified the top three markets globally in 2017 by fastest growth in mortgaged households.

WSJ Africa Bureau Chief Joe Parkinson (Left), Kenya's Central Bank Governor Patrick Njoroge (Center) and Nigeria's Sovereign Wealth Fund's CEO Uche Orji (Right)

Kenya and Nigeria Officials Have Different Economic Outlooks (Videos)

Kenya’s Central Bank Governor Patrick Njoroge and Nigeria’s Sovereign Wealth Fund’s CEO Uche Orji discuss their nations’ growth prospects.

Arunma Oteh, Vice President and Treasurer, World Bank; former Director General of Nigeria's SEC

Harvard Business School Interview: In My Humble Opinion by Arunma Oteh, Vice President and Treasurer, World Bank; former Director General of Nigeria's SEC

World Bank VP and Treasurer Arunma Oteh (Harvard MBA, 1990) has a clear sense of why she likes her job.

National Museum of African American History and Culture (NMAAHC), designed by David Adjaye. Credit: ozy.com

David Adjaye and the New African Architecture

When David Adjaye set out to document African architecture in metropolitan cities across the continent, he did so informally.

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.

Oscar Onyema, CEO, Nigerian Stock Exchange

Nigerian Stock Exchange to seek approval for public listing

The Nigerian Stock Exchange plans to seek approval from its members on March 30 to proceed with the process of becoming a publicly listed company.

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.

Krispy Kreme Doughnuts to Open in Nigeria

Krispy Kreme Doughnuts to Open in Nigeria

Krispy Kreme to open twenty shops in Nigeria over a period of five years.

Africa Rising - What Investors Want to Hear

Africa Rising: What Investors Want to Hear (Infographic)

The “Africa Rising’’ narrative has been put on hold, due to a couple of macroeconomic factors impacting the economic growth of the giant countries of Africa.

Mteto Nyati, outgoing CEO, MTN South Africa

MTN South Africa's CEO Mteto Nyati resigns, to be replaced by Motsa

Africa’s biggest mobile phone operator MTN Group said on Tuesday that Mteto Nyati, the chief executive of its South African unit, will be resigning in March and will be replaced by Godfrey Motsa on the same day.

Private equity firm TA Associates announces minority investment in Interswitch

Private equity firm TA Associates announces minority investment in Interswitch

TA Associates, a leading global growth private equity firm, announced on Monday it has acquired a minority equity interest in Interswitch, an Africa-focused integrated digital payments and commerce company.

Cyril Collon, General Partner, Partech Ventures

African tech startups raise record-breaking $370M in 2016: Partech Ventures (Infographic)

At Partech Ventures, we have been tracking for the past 3 years the dynamics of African tech investment, to better understand the investment landscape on the continent.

Nigeria's leading hotel booking company Hotels.ng launches flight bookings

Nigeria's leading hotel booking company Hotels.ng launches flight bookings

Hotels.ng, Nigeria’s leading hotel booking company has rolled out a new service – online flight bookings – on its website.

Kemi Adeosun, Nigeria's Minister of Finance

Nigeria to tap private capital, boost spending on infrastructure

Nigeria aims to rise the proportion of government spending devoted to infrastructure to 30 percent from 10 percent and to mobilize private capital for additional funding.

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.

Chimamanda Ngozi Adichie (Left)

Chimamanda Ngozi Adichie on what Americans get wrong about Africa (Video)

Chimamanda Adichie is vocal about many things and African literature ranks highly on that list.