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Nigeria Investigates Crude Oil Swap Contracts

AFRICANGLOBE - The Nigerian government may be losing money through opaque contracts in which crude oil worth billions of dollars is given to traders in exchange for refined imports, mainly gasoline, international and domestic watchdogs have said.

Nigeria To Grow At 4.6% In 2015

AFRICANGLOBE - Africa’s largest economy, Nigeria, which has maintained growth at an average of 6 to 7 percent in recent years, may see significantly less growth in 2015, with World Bank’s outlook predicting a 4.6 percent growth rate.

Nigerian-Owned Oil Companies To Watch In 2015

AFRICANGLOBE - Talk about opportunities in crises, and Nigeria, Africa’s largest economy, may be a model country to look at. The recent downward shifts in oil prices has tremendously disrupted global economics particularly for economies like Nigeria’s which are oil dependent; but all of this may be a blessing in disguise for indigenous players.

‘Megachurches’: A Hidden Pillar Of Nigeria’s Economy

AFRICANGLOBE - When a guesthouse belonging to one of Nigeria's leading Christian pastors collapsed last month, killing 115 mostly South African pilgrims, attention focused on the multimillion-dollar “megachurches” that form a huge, untaxed sector of Africa's top economy.

By 2030 Nigeria Could Have A Bigger GDP Than Most European...

AFRICANGLOBE - There is another side to the Nigeria story that has been overshadowed. A new report examines the country’s economic potential and finds that with the right reforms and investments, it can become one of the world’s leading economies by 2030.

Africa Is Richer Than You Think

AFRICANGLOBE - Africa suffers from another kind of poverty: lack of accurate statistical data. And it is a tragic, messy situation. Nigeria nearly doubled the size of its economy overnight -- a whopping 89 percent -- surpassing South Africa to become Africa's largest economy and the world's 26th largest.

Nigeria Now Africa’s Leading Economy?

AFRICANGLOBE - Nigeria is likely to take South Africa's position as the continent's largest economy within two years, a Reuters' poll has found. Nigeria's gross domestic product will receive an enormous boost when it is rebased by year end to more accurately reflect changes in the economy over the last two decades.

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 To Experience Over 7% Recovery In 2013 – IMF

AFRICANGLOBE - The International Monetary Fund (IMF) is expecting an over 7 percent growth in Nigeria’s economy this year. After reviewing West Africa’s biggest economy, the Washington-based Fund indicated that the country’s inflation will fall below 10 percent during the year.

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.

Will Nigeria Overtake South Africa as Regional Powerhouse?

Following Nigeria's announcement that calculations of its Gross Domestic Product (GDP) may have been underestimated over the last two decades, the country's economy has been portrayed much more optimistically by mainstream media. The Financial Times headline 'Nigeria: No 1 in Africa by 2014?' in its special edition on emerging markets, Beyond Brics, is a case in point. Similarly, headlines such as 'Nigerians optimistic about economic prospects' or 'Nigeria wins ratings upgrade for tight fiscal policy' from The Guardian and Reuters, respectively, capture the media's changing attitude towards Africa's most populous nation.

Nigeria’s Economy Oficially the Larrgest in Africa After Overtaking South Africa

AFRICANGLOBE - Nigeria has achieved impressive economic growth between 1999 and 2010, as the economy grew fifteen fold from US$36 to nearly US$555 billion, according to “The 2012 Gender in Nigeria Report by the British Council, Nigeria”. The report states that the figure of US$555 billion “may even be an underestimate

Nigeria Attracted $42.6bn Investments In 9 Months

Nigerian President, Goodluck Jonathan has disclosed  that Nigeria’s economy attracted investments worth 6.8 trillion naira ($42.6 billion) in nine months, with Gross Domestic Product...

Nigeria: The World’s Next Economic Giant

Effective leadership is not about making speeches or being liked; leadership is defined by results not attributes. Peter Drucker Peter Drucker the management expert in...

Nigerian Economy Grows 6.28 Percent

The Nigerian economy grew by 6.28 per cent in the second quarter of this year, driven by non-oil sector growth, while inflation fell for...

U.S. Bank Provide Billions for American Investors in Nigeria

The Export-Import (EXIM) Bank of the United States has provided $1.5 billion (N234 billion) as loans for American business group interested in investing in...