Several lenders in the region may fail if natural disasters reduce the earnings of the forestry and agricultural companies they have lent to, according to
Category: Africa
Nigeria’s inflation hit a record 28-year high heralding the worst cost of living crisis in June.
June saw Nigeria’s inflation rate reach a record 28-year high of 34.19% in annual terms, according to official figures released on Monday. However, several analysts
Nigeria directs IOCs to sell crude to Dangote, domestic refiners at open market prices.
A supply conflict that had damaged ties with foreign oil corporations has been resolved by an agreement reached by Nigeria’s oil regulator with producers to
Nigeria’s gasoline debt reaches $6 billion, subsidy to gulp $3.7b in 2024.
As the state oil company NNPC tries to bridge the difference between set pump prices and foreign fuel costs, Nigeria’s debt to gasoline suppliers has
Coup-hit Niger’s bid to export oil with China-funded pipeline hit with crisis.
The revolution that overthrew the democratic government of Niger last year has resulted in an internal security crisis and a diplomatic spat with neighboring Benin,
Nigeria’s cost of living crisis is at its worst as inflation hits a new 28-year record.
Official figures released on Saturday indicated that Nigeria’s annual inflation reached a record 28-year high of 33.95% in May, exacerbating the hardships that have stoked
African countries in crisis as $74b will be used for debt servicing in 2024. – AfDB Chief.
The chairman of the continent’s development bank stated that for Africa to avoid a lost decade, the continent needs faster debt restructurings, more advantageous loan
Nigeria’s NNPC receives $925m from the $3.3b Afreximbank crude-oil-backed facility
As part of a syndicated $3.3 billion crude oil-backed prepayment facility, Afreximbank has released $925 million to Nigeria’s state-owned NNPC, the African trade bank announced
Nigeria’s fragile economy grinds to a halt as unions protest the worst cost of living crisis in 28 years.
The top labor unions in Nigeria went on strike on Monday, demanding a pay hike amid the greatest cost of living crisis in decades. Major
Nigeria’s Central Bank to lose control over fiscal and economic policy while the Governor will spend a single term of 6 years.
A bill in the Senate indicates that Nigerian politicians are attempting to curtail the central bank’s authority over economic policy by suggesting the formation of
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