Africa’s biggest economy is slowing to a halt, and now there are whispers of a recession
The cash earned from the sale will go toward boosting reserves, financing power, water and other infrastructure projects
Buhari’s tight stance on Nigeria currency ‘has echoes’ of his rule as military leader, disappointed analysts say>Paul Wallace, Bloomberg
President’s backing tightens country’s central bank’s grip on naira, but few investors are seemingly impressed.
Falling currencies and tanking commodity prices raise loan repayment fears across the continent - but take heart, there’s still wriggling space
It is becoming too costly for developing nations to defend their currencies, and it may just get worse, as events in Asia this Thursday showed.
A client recently sold Nigerian, Ghanaian and Kenyan local-currency securities and is now “very light” on African assets - emerging markets investor.
Buhari moves to tackle Nigeria's oil monster; the money 'eaten' there is bigger than GDP of 38 African nations>
Some estimates put "lost" funds at $50 billion. If it were a country, it would be Africa's 11th biggest economy, at par with Tunisia's entire GDP.
On average, a Nigerian breadwinner supports 20 to 30 people. Now they aren’t getting paid as states turn broke>
Oil crisis leaves the state unable to pay its workers, in a crippling disaster that is being described as ‘unprecedented in the democratic era'.
Nigeria, Africa’s largest economy, is seeking to close the gap with South Africa, home to the continent’s biggest equity market.
Dangote has seen his wealth fall $3.4 billion this year, more than anybody else aside from US billionaire Warren Buffett - but he's undeterred.