In a four-day sweep through Nigeria early last year, Aberdeen Asset Management’s Kevin Daly detected trouble. Yes, the country was a rising African power and, yes, it had become the world’s fastest-growing major economy, but things weren’t quite right.
Nigerian government revenues fell to 502.09 billion naira (3.03 bln) in September, down 16.5 percent from 601.65 billion naira in August, due to falling global oil prices and domestic production outages, Accountant GeneralJonah Otunla said
There was still no news on when the bodies of more than 80 South Africans killed in a building collapse in Nigeria will be returned home, a government spokeswoman said
A professional and transparent probe must uncover what led to the recent fatal collapse of a guest house at the Synagogue Church of All Nations in Lagos, the Nigeria Labour Congress (NLC) said on Monday. “By so doing, we will not only be putting to rest all the speculations, we will be preventing similar tragedies … Read more
JOHANNESBURG (Reuters) – The death toll from the collapse of a church guesthouse in Lagos has risen to 115, South African minister Jeff Radebe said on Monday, urging the heavily-criticised Nigerian government to investigate the “tragedy”. Minister in the Presidency Radebe said 84 South Africans who were part of visiting church groups had died in … Read more
Trade and Industry Minister Rob Davies is charged with growing the industrial base of South Africa. I have been keen to catch up with him, specifically to hear his plan to combat the growing number of SA corporates who are taking their investments away from home. His response in today’s interview was illuminating. Davies said … Read more
WASHINGTON (Reuters) – The United States has taken control of more than $480 million looted by former Nigerian dictator Sani Abacha and his associates after a court ruling, the Justice Department said on Thursday. The money stolen during Abacha’s 1993-1998 de facto presidency of the oil-rich African nation and stashed in banks around the world … Read more
LAGOS (Reuters) – Nigeria’s Oando Plc has converted a $218.9 million loan to its Toronto-listed unit Oando Energy Resources to equity, to increase its stake in the subsidiary by 1.6 percent to 93.6 percent, it said on Thursday. Oando said the debt is part of a $1.2 billion facility it approved for its subsidiary in February to help finance … Read more
By Camillus Eboh ABUJA (Reuters) – At least 21 people were killed when a suspected bomb tore through a crowded shopping district in the Nigerian capital Abuja during rush hour on Wednesday, police said, adding to the toll of hundreds killed in attacks this year. It was not immediately clear who was responsible for the … Read more
By Anamesere Igboeroteonwo and Joe Hemba ONITSHA/DAMATURU Nigeria (Reuters) – Nigerian security forces discovered a senior member of the militant Islamist group Boko Haram among a convoy of nearly 500 travellers arrested this week in the southern state of Abia, a military spokesman said on Wednesday. News of the arrest comes as militants are killing … Read more