market has hoped. It’s all down to Nigerian militants. Nigeria was dethroned as Africa’s largest oil producer this month because the deteriorating political and security situations pose such a threat to Nigeria’s oil output. Militant activity from group Niger Delta … read more
The lingering scarcity of Jet A1, popularly called aviation fuel, on Monday disrupted flight operations at the Murtala Muhammed Airport 2 (MMA2) and the General Aviation Terminal of the airport in Lagos. Some domestic airlines had to either re-schedule or … read more
Nigeria’s central bank denied a report that it planned to devalue the naira, while the International Monetary Fund (IMF) reiterated that Nigeria would benefit from a more flexible exchange rate but said no request for funds had been made. Talk … read more
Nigerian inflation has soared to its highest level since June 2010, placing mounting pressure on the country’s central bank to raise interest rates despite an economic slump. Consumer prices rose across all sectors, driven by higher energy prices and food … read more
The Nigerian army said on Monday it had arrested members of a militant group which has claimed responsibility for a wave of attacks on pipelines in the restive Delta region. The detainees were thought to be part of the Niger … read more
Nigeria’s trade union federation has said it will resist what it calls the “criminal” 67% rise in the petrol price, as fuel subsidies are removed. The government announced on Wednesday that the price was to increase in a bid to … read more
A militant group in Nigeria calling itself the Niger Delta Avengers issued a warning Thursday to oil companies, saying their campaign has just begun. “To international oil companies, this is just the beginning and you have not seen anything yet,” … read more
Nigeria’s government raised fuel prices by 67 percent and urged the central bank to adopt a more flexible currency policy to spur investment, top officials said on Wednesday as Africa’s largest economy battles its biggest crisis in decades. A fall … read more
INVESTEC Asset Management, which has about $1bn invested in Nigeria, says the country’s refusal to devalue its currency and relax import controls “is not a sensible policy”. Nigerian President Muhammadu Buhari has resisted calls from investors and the International Monetary … read more
A suicide bomber pretending to be a madman blew himself up Thursday and killed at least five people outside government offices in Nigeria’s northeastern city of Maiduguri, witnesses said. Another six people were wounded, the witnesses said, speaking on condition … read more