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Bust Or Boom? Oil Prices And Africa

AFRICANGLOBE - As oil prices dipped below US$50 a barrel in January, Nigeria’s finance minister put a brave face on her country’s revenue crisis. Nigerians, she said, should start thinking of Africa’s largest oil producer as a “non-oil country”.

Oil Prices And African Economies

AFRICANGLOBE - “The macroeconomic malaise in both Russia and Nigeria as a result of the plunge in oil prices is a clear reminder to the East African economies that while oil and gas will open up new sources of government revenue and foreign exchange inflows, the other sectors of the economy should not be ignored. In any case, it would be prudent to direct the oil and gas revenues to facilitate the growth of manufacturing, services and agricultural sectors.”

Nigeria Is On The Rise, Don’t Talk It Down – Okonjo-Iweala

AFRICANGLOBE - Nigeria has a strong, buoyant economy receiving billions of dollars of foreign and domestic direct investment in power, petrochemicals, agriculture and consumer goods, but it needs to grow faster to reduce poverty, its finance minister said.

Nigeria To Lure More Foreign Direct Investment From 2014 Economic Forum

AFRICANGLOBE - Nigeria has disclosed plans to use the World Economic Forum on Africa (WEF) in 2014 as a platform to lure more Foreign Direct Investment (FDI) into the country.

Nigerian Economy is Doing Well – Okonjo-Iweala

AFRICANGLOBE - Nigeria's economy was strong, stable and growing at 6.75 % GDP, which had been recognised by international rating agencies such as Fitch and Standard and Poor that upgraded Nigeria's rating at a time many developed economies were being downgraded.

No Cause for Alarm On Nigeria’s Economy

AFRICANGLOBE - Coordinating Minister of the Nigerian Economy, Dr. Ngozi Okonjo Iweala and Governor Central Bank of Nigeria, CBN, Mallam Lamido Sanusi have told the International Monetary Fund, IMF, that there is no cause for alarm over Nigeria's economy.

Nigeria’s Economy Is Strong’, FG Replies Bill Clinton

AFRICANGLOBE - Nigeria's Minister of Finance, Dr. Ngozi Okonjo Iweala, has replied to critics of the Nigerian economy, saying the economy is buoyant and strong. Okonjo-Iweala, in a message put on social media, yesterday, dismissed reports of the poor performance of the economy and the management of the excess crude revenue.

Nigeria’s Sovereign Wealth Fund to Commence Investment 2013

AFRICANGLOBE - Following the approval of its strategy document and the progress made with its investment policy guidelines, Nigeria's Ministry of Finance has announced that the Sovereign Wealth Fund (SWF) is expected to commence investment in a variety of instruments by March 2013.

Nigerian Finance Minister’s Mother Rescued from Kidnappers

AFRICANGLOBE - The Nigerian Police has confirmed the release of Prof. Kamene Okonjo, mother of Nigerian Finance Minister Ngozi Okonjo-Iweala, five days after her...

Nigeria’s Stolen Oil

Nigeria is the world capital of oil theft, at least according to The Economist. However, because the government does not know how many barrels...

Nigeria Approves N4.9 Trillion Budget for 2013

The Government of Nigeria is expected to spend the sum of N4.929 trillion under the 2013 budget even though it is projecting revenue of...

Women’s Economic Summit Begins in Nigeria

Creating better opportunities for women is key to Africa's economic development, a Nigerian minister said at the opening of a two-day African women's economic...

Nigeria’s Ports Key to Economic Growth

Nigeria's Minister of Finance and Co-ordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, has said that the Federal Government has decided to provide facilities...

Africa Must Diversify to Create More Jobs, Says Okonjo-Iweala

Arican countries should rebuild their fiscal buffers and diversify their economies away from commodities in order to protect themselves from another possible global downturn,...

Nigerian Govt Renews Commitment to Diversify Economy

Nigeria's federal government has renewed its commitment to diversifying the nation's economy to ensure the country depends less on crude oil as its major...

Statement By Ngozi Okonjo-Iweala After Dr. Kim’s Appointment As World Bank...

I would like to congratulate Dr Jim Yong Kim on his emergence as President of the World Bank Group. I look forward to working...