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Nigeria to fund budget deficit with foreign loans, Eurobonds

Nigeria will raise $3.5 billion in foreign loans including from international lenders and debt markets to fund the West African nation’s 2017 budget deficit, Reuters reported. According to the Budget Office Director General Ben Akabueze,  $2 billion of the foreign borrowings would come from concessionary loans with the balance of $1.5 billion from commercial markets […]

Morocco, Nigeria Turning Africa’s Dreams into Reality

Morocco and Nigeria, two major African regional powers, are enhancing their strategic alliance in a bid to turn the cherished African dreams into tangible reality. The two countries’ cooperation is gaining momentum in fertilizers as well as their landmark project of building a gas pipeline that will connect Nigerian gas wells with West African countries, […]

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Nigeria: two officials jailed for diverting food aid

A court in Nigeria on Thursday sentenced two Nigerian officials to two years in jail for taking and selling about 300 bags of rice donated by an international aid group for people fleeing severe food shortages and insurgency in the West-African nation. The two convict are Umar Ibrahim, a counsellor for agriculture, and Bulama Ali […]

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Take a medical leave now, Nigerian activists urge Buhari

Thirteen civil society leaders on Monday urged Nigerian President Muhammadu Buhari to take a medical leave immediately as his heath situation is deteriorating. In an open letter titled “President Buhari should take medical leave immediately”, the civil society leaders questioned Buhari’s absence from the latest two weekly cabinet meetings and speculation about his ability to […]

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Nigeria’s anti-graft watchdog recovers $53.6m in Q1 2017

The Nigerian anti-graft Watchdog, the Economic and Financial Crimes Commission (EFCC) on Sunday said it has recovered over $53.6 million in the last four months. According to the Acting Head of the agency, Ibrahim Magu, the EFCC recorded 62 convictions in the first quarter of 2017. “Apart from several other recoveries running into several billions […]

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US plans arm deal with terror-stricken Nigeria

United States government is planning to sell up to a dozen ground attack aircraft to Nigeria’s air force in a deal that could be worth up to $600 million, Reuters reported Monday. The deal according to Reuters will help the West African most populous nation in its fight against the Islamic-state affiliated group Boko Haram. […]

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Nigeria: Buhari slims his schedule for further treatment

Nigeria’s president Muhammadu Buhari has reduced his working hours since he returned from medical leave, Voice of America reported. According to the US media, the development was likely to slow down the pace of economic reforms “advanced in his absence”. “Buhari was spending between one and four hours a day in his office to conserve […]

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Nigeria’s Buhari returns home after medical leave

Nigerian President Muhammadu Buhari returned to Nigeria on Friday after he spent about seven weeks on sick leave in UK. The 74-year president who was wearing a black kaftan, landed at an air force base in the northern city of Kaduna and walked unaided, before boarding a presidential chopper, local media reported. The President’s long […]

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King Mohammed VI, President Buhari Discuss Gas Pipeline Project

King Mohammed VI and President Muhammadu Buhari discussed in a phone talk Wednesday the upcoming stages of the Morocco-Nigeria Atlantic gas pipeline which will bring gas from Nigeria to Morocco stretching through several West African countries over some 4,000 KM. The two heads of State brought up the conclusions of the meeting on the project […]

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“It is so Good to Be Back Home” King Mohammed VI Tells African Summiteers

Following the diplomatic victory scored by Morocco in Ethiopia against its enemies in Africa after its readmission by the African Union (AU) with the approval of the majority of the member states, King Mohammed VI took the floor Tuesday before the AU 28th Summit to thank African leaders for their massive support and to survey […]

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