Thursday 29 September 2016
 
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Nigeria

MTN denies illegal transfer of $14bn from Nigeria

South African telecoms giant MTN on Wednesday denied an allegation that it had illegally repatriated $13.92 billion from Nigeria, saying the claim was without merit. Lawmakers in the upper house of Nigeria's parliament agreed

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Nigeria hunts down 700,000 firms in tax crackdown

Nigeria has hunted down 700,000 firms that have never paid taxes as the country seeks new revenue sources to offset low oil prices that have pushed Africa's biggest economy into its first recession in more than 20 years, its tax chief said.

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Oil prices drop as growing supplies stoke glut concerns

Oil prices fell more than 1 per cent on Friday as news of rising Iranian exports and returning supplies from Libya and Nigeria following interruptions fuelled concerns that the global glut will persist. Benchmark Brent crude futur

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Nigeria refuses petrol price rise despite crude, currency crises

Nigeria will not increase its gasoline prices, President Muhammadu Buhari told his oil minister and state oil firm head, summoned to his villa last week, sources at the compound said. Oil Minister Emmanuel Ibe Kachikwu, the head o

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Nigeria refuses petrol price rise despite crude, currency crises

Nigeria will not increase its gasoline prices, President Muhammadu Buhari told his oil minister and state oil firm head, summoned to his villa last week, sources at the compound said. Oil Minister Emmanuel Ibe Kachikwu, the head o

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Foreign flights to Nigeria forced to refuel abroad

Foreign airlines flying to Nigeria have started to refuel abroad to bypass pricey, and increasingly scarce, jet fuel as the oil producer battles a hard currency shortage that has made fuel available only at a very high price. It i

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Nigeria's main car plant idled as dollar crisis bites

At a factory in southeast Nigeria, dozens of new white buses stand at the end of the production line, apparently ready to take on some of Africa's toughest roads. Unfortunately for Nigeria's main domestic vehicle assembly

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Nigeria oil minister says Opec cuts unlikely

Nigerian oil minister Emmanuel Ibe Kachikwu said that while a cut in the Organization of the Petroleum Exporting Countries (Opec) production is unlikely, there is hope a meeting of producers in Algeria next month could help shore up crude pric

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Africa battles to get big solar projects on grid

In an expanse of sand 60 miles (100 km) north of Senegal's capital, two men set to work digging up tree stumps to clear space for what could soon be the biggest solar plant in West Africa. In less than a year, says developer S

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Nigeria's oil minister replaced as oil company boss

Nigerian President Muhammadu Buhari has replaced Oil Minister Emmanuel Ibe Kachikwu as group managing director of state oil company NNPC as part of a wider board overhaul. Oil accounts for about 70 per cent of Nigeria' revenue

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