Author Archives: Chief Oyibo

Nigeria to Cut Petrol Subsidy by Half

Nigeria plans to cut subsidies on petroleum products by half next year after sharp falls in global crude prices, spurred the government to revise its 2015 budget downwards, data from the revised budget seen by Reuters showed on Friday. President … read more

Nigeria must adjust to oil price

Nigeria will have to adjust to oil prices heading lower for some time to come, Finance Minister Ngozi Okonjo-Iweala said on Thursday in an interview in which she also cut the outlook for economic growth next year. Africa’s largest economy … read more

Nigeria naira weakens against US dollar

Nigerian naira ended to a record low on the interbank market on Friday ahead of the country’s central bank meeting to review interest rates in Africa’s biggest oil producer.The local unit closed at 176 naira against the dollar, declining by … read more

45 killed in Boko Haram attack in Nigeria

Members of the armed terrorist group Boko Haram have killed at least 45 people in a village near Mafa city in the northern Nigerian state of Borno, media reported citing municipal sources and witnesses. The radicals attacked Azaya Kura Wednesday, … read more

Boko Haram’s increasing attacks worry Cameroon

Nigeria’s Boko Haram militants are intensifying attacks in neighbouring Cameroon, targeting new villages with increasingly sophisticated weapons. Now the country’s army fears more violence in the approaching dry season. “We’re convinced that the establishment of a ‘caliphate’ (by Boko Haram) … read more