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United States

Camillus Eboh

Nigeria convicts first pirates under new maritime law

7:21am EDT

LAGOS A Nigerian court made the first convictions under a new anti-piracy law, giving hope to the world's shipping fleets that legal reforms will help stem rising attacks in the Gulf of Guinea.

Nigerian lawmakers recommend new board for Niger Delta body in corruption probe

Jul 23 2020

ABUJA, July 23 Nigeria's president should appoint a new board to run a government agency overseeing economic development in the oil-rich Niger Delta region that has faced accusations of financial mismanagement, lawmakers said on Thursday.

Nigerian official collapses during televised Niger Delta corruption hearing

Jul 20 2020

ABUJA A Nigerian official collapsed on Monday during a televised parliamentary hearing held as part of an investigation into allegations of mismanagement at an organisation with a remit to foster economic development in the oil-rich Niger Delta region.

UPDATE 1-Nigeria's Senate passes revised 10.8 trillion naira budget

Jun 11 2020

ABUJA, June 11 Nigeria's upper house of parliament passed an increased budget for 2020 on Thursday, as Africa's biggest economy tackles the new coronavirus pandemic and a sharp fall in the price of oil, the country's most valuable export.

UPDATE 1-Nigeria's House send 10.8 trillion naira budget to Senate

Jun 10 2020

ABUJA, June 10 Nigeria's House of Representatives on Wednesday passed a revised 10.8 trillion naira ($30 billion) budget based on oil prices at $28 per barrel.

Nigeria proposes steep basic healthcare budget cuts despite coronavirus

Jun 05 2020

ABUJA, June 5 Nigeria is proposing slashing its basic healthcare funding by almost half as government finances in Africa's biggest economy take a hit from the novel coronavirus pandemic and low oil prices, according to the latest budget proposal documents.

UPDATE 1-Nigerian Senate approves president's request for $5.5 bln in external borrowing

Jun 02 2020

ABUJA, June 2 Nigeria's upper chamber of parliament on Tuesday approved President Muhammadu Buhari's request for $5.51 billion in external borrowing from international lenders.

Nigeria's president submits revised 2020 budget to Parliament

May 28 2020

ABUJA, May 28 Nigerian President Muhammadu Buhari on Thursday submitted a revised 2020 budget of 10.51 trillion naira ($29.19 billion) to Parliament for approval.

Nigeria woos local firms to boost manufacturing as coronavirus disrupt imports

May 19 2020

ABUJA Nigeria is wooing local companies to boost manufacturing and food production in the West African country, the central bank said, after the novel coronavirus disrupted imports and created large financing needs.

Nigeria to ensure orderly foreign investor exits after oil price crash

May 11 2020

ABUJA, May 11 Nigeria has put in place policies to ensure foreign investors that want to repatriate funds can exit the country in an orderly fashion, the central bank said late on Sunday, without giving any details.

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