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Tag: financial

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Nigeria is failing its abducted girls - Financial Times
Posted On 05/19/2014 19:56:10 by lagosadmin
Boko Haram extremists abducted more than 200 teenage girls from their school in Nigeria’s remote northeast. President Goodluck Jonathan says 20,000 troops have been deployed as part of efforts to find and free them and in the broader campaign against an insurgency that has become the greatest threat to Nigerian and regional security. British, US and Israeli forces are now assisting operations to find the hostages with aerial surveillance and expertise.[Finish Article ]... Read More

Nigeria is in Deep Financial Crisis- Oshiomhole - Nigerian Bulletin
Posted On 10/13/2013 06:56:38 by lagosadmin
“I don’t know if the Federal Government is broke, but I know there is a serious financial crisis and it is unprecedented in the history of this country. That, for the first time since 1999, allocations can no longer come as and when due to states is shocking.” VANGUARD quoted him as saying: “I have been involved in trying to understand what the reasons are and I have not seen anything yet. Two years ago, it was about the kind of money we were spending on subsidy. In no time, following series of... Read More

Nigeria faces African market bubble risk - Financial Times
Posted On 10/11/2013 09:56:20 by lagosadmin
Compared with such currencies as the South African rand, the Nigerian naira was not really under pressure. This in part reflects the fact that so far in 2013 – unlike South Africa – Nigeria has only a modest fiscal deficit, a current account surplus and modest debt levels. In part, its superior macroeconomic indicators worked in its favour. But there is more to the story. Nigeria is also in a halfway house when investors think about[Finish Article ]... Read More

Nigeria thorny jewel in African retail crown - Financial Times
Posted On 10/11/2013 04:56:16 by lagosadmin
He spent 2009 and much of 2010 raising money, leased a warehouse that had been long abandoned, and opened Grocery Bazaar in September 2010. In its first month it made 15m naira ($100,000) in revenues. Three years on the 650 square-meter store’s average monthly revenues have grown more than fivefold. He has just opened a second store and plans a total of 30 over the next five years.[Finish Article ]... Read More

Oil prices help Nigeria balance the books - Financial Times
Posted On 10/11/2013 04:56:13 by lagosadmin
Thank goodness for high global oil prices. That has been the feeling among finance and treasury officials in Nigeria so far this year. Oil and gas account for about 70 per cent of the country’s fiscal revenues. Hence, any sharp fall in oil production or prices spells trouble. This year, it has been oil output that has tumbled. Against budgeted production of 2.53m barrels per day, output dropped below 2m b/d midway through the year, due to a combination of[Finish Article ]... Read More

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