The International Monetary Fund said Nigeria should maintain tight monetary policy to curb inflation, while cautioning that a recently announced $5 billion debt swap poses potential risks.
The International Monetary Fund said Nigeria should maintain tight monetary policy to curb inflation, while cautioning that a recently announced $5 billion debt swap poses potential risks.
Nigeria plans to refinance high-cost debt and raise funds to help plug its budget deficit, leveraging strong investor confidence amid elevated oil prices fueled by the US-Iran conflict.
Nigeria plans to refinance high-cost debt and raise funds to help plug its budget deficit, leveraging strong investor confidence amid elevated oil prices fueled by the US-Iran conflict.
Taiwo Oyedele Photographer: Jose Sarmento Matos/Bloomberg
Nigeria plans to refinance high-cost debt and raise funds to help plug its budget deficit, leveraging strong investor confidence amid elevated oil prices fueled by the US-Iran conflict.
Nigeria plans to refinance high-cost debt and raise funds to help plug its budget deficit, leveraging strong investor confidence amid elevated oil prices fueled by the US-Iran conflict.
Taiwo Oyedele Photographer: Jose Sarmento Matos/Bloomberg
Nigerian oil companies are plowing windfall gains from the Iran-war crude rally into near-term extraction projects, boosting the drive by Africa’s top producer to double output within four years.
Nigerian oil companies are plowing windfall gains from the Iran-war crude rally into near-term extraction projects, boosting the drive by Africa’s top producer to double output within four years.
Nigerian oil producer Oando Energy is witnessing a surge in revenue because of the Iran war, which has “shattered” the Gulf’s reputation as a safe place to operate, said Group Chief Executive Wale Tinubu.
Nigerian oil producer Oando Energy is witnessing a surge in revenue because of the Iran war, which has “shattered” the Gulf’s reputation as a safe place to operate, said Group Chief Executive Wale Tinubu.
A worker inspect facilities on an oil drilling platform in the Niger Delta.
Nigeria’s annual inflation rate climbed to its highest level in five months as the fallout from the Iran war continued to fan energy prices, complicating the outlook for policymakers ahead of their first meeting since the conflict began.
Nigeria’s annual inflation rate climbed to its highest level in five months as the fallout from the Iran war continued to fan energy prices, complicating the outlook for policymakers ahead of their first meeting since the conflict began.
A customer inspects a pair of jeans on a clothing stall at the Oshodi market in Lagos.
A Nigerian court handed a former energy minister a 75-year jail term after finding him guilty of money laundering and corruption linked to two power projects in the West African nation, which has persistently been roiled by outages.
A Nigerian court handed a former energy minister a 75-year jail term after finding him guilty of money laundering and corruption linked to two power projects in the West African nation, which has persistently been roiled by outages.
Nigeria’s newly appointed Finance Minister Taiwo Oyedele has ruled out a return to government subsidies and price controls, reassuring the country’s bondholders that he will stick with reforms started by his predecessor.
Nigeria’s newly appointed Finance Minister Taiwo Oyedele has ruled out a return to government subsidies and price controls, reassuring the country’s bondholders that he will stick with reforms started by his predecessor.
Taiwo Oyedele inherits an economy saddled with double-digit inflation. Photographer: Victor Adewale/Bloomberg
Nigeria’s foreign ministry summoned South Africa’s envoy to complain about xenophobic attacks against its citizens, weeks after a similar complaint was lodged by Ghana.
Nigeria’s foreign ministry summoned South Africa’s envoy to complain about xenophobic attacks against its citizens, weeks after a similar complaint was lodged by Ghana.
Anti-immigration protesters in Yeoville, Johannesburg, on April 30.
One of Nigeria’s top opposition politicians quit a coalition that planned to run against President Bola Tinubu in January 2027 elections, improving the incumbent’s chances of retaining power.
One of Nigeria’s top opposition politicians quit a coalition that planned to run against President Bola Tinubu in January 2027 elections, improving the incumbent’s chances of retaining power.
Peter Obi delivers a speech during a campaign rally in Lagos, Nigeria, on Saturday, Feb. 11, 2023.
Nigeria’s Supreme Court overturned a ruling that could have derailed the nation’s major opposition party ahead of national elections in 2027.
Bola Tinubu, Nigeria's president, during a meeting with Keir Starmer, UK prime minister, at 10 Downing Street in London, UK, on Thursday, March 19, 2026. Despite declaring a state of emergency in November and ordering the recruitment of thousands more security personnel, Nigeria's president has failed to stem violence that has spread beyond traditional conflict zones in the country.
Nigeria’s president named a former Dangote Cement Plc executive as the next head of the nation’s petroleum-products regulator, the third leadership change in four months at the agency that’s clashed with billionaire investor Aliko Dangote.
Nigeria’s president named a former Dangote Cement Plc executive as the next head of the nation’s petroleum-products regulator, the third leadership change in four months at the agency that’s clashed with billionaire investor Aliko Dangote.
Nigeria’s president named a former Dangote Cement Plc executive as the next head of the nation’s petroleum-products regulator, the third leadership change in four months at the agency that’s clashed with billionaire investor Aliko Dangote.
Nigeria’s president named a former Dangote Cement Plc executive as the next head of the nation’s petroleum-products regulator, the third leadership change in four months at the agency that’s clashed with billionaire investor Aliko Dangote.
Nigerian Power Minister Adebayo Adelabu resigned, adding to recent changes in the cabinet of President Bola Tinubu after the exits of his ministers of finance and foreign affairs.
Nigerian Power Minister Adebayo Adelabu resigned, adding to recent changes in the cabinet of President Bola Tinubu after the exits of his ministers of finance and foreign affairs.
Bola Tinubu’s cabinet has undergone major changes ahead of a general election in January 2027.
Terrahaptix Inc., a Nigerian drone-making startup, will open its first factory abroad in Ghana, where it will build mid-range pilotless aircraft and defense systems in response to increasing Islamist-militant activity in West Africa.
Terrahaptix Inc., a Nigerian drone-making startup, will open its first factory abroad in Ghana, where it will build mid-range pilotless aircraft and defense systems in response to increasing Islamist-militant activity in West Africa.
An Iroko UAV first response drone being assembled at the Terra Industries factory in Abuja, Nigeria, on Feb. 9, 2026.
Nigeria’s central bank will stay focused on driving down inflation even as the oil price shock caused by the Iran war pushed monthly prices to the highest in more than two decades in March.
Nigeria’s central bank will stay focused on driving down inflation even as the oil price shock caused by the Iran war pushed monthly prices to the highest in more than two decades in March.
Taxi vans and street traders line a road in the Central Business District (CBD) of Lagos, Nigeria, on Monday, Aug. 14, 2023. Nigerian President Bola Tinubu has declared a state of emergency to counter the rising cost of living and in early August announced a 500 billion naira package of measures to improve food supply, ease transportation costs and boost manufacturing.
Spillovers from the Iran war are sending more African governments to request financial assistance from the International Monetary Fund, as they’re facing rising inflationary and fiscal strains.
Spillovers from the Iran war are sending more African governments to request financial assistance from the International Monetary Fund, as they’re facing rising inflationary and fiscal strains.
Benin’s newly elected government plans to seek a new International Monetary Fund program when it enters office in May, as it looks to sustain economic growth that’s made it an outlier among peers.
Benin’s newly elected government plans to seek a new International Monetary Fund program when it enters office in May, as it looks to sustain economic growth that’s made it an outlier among peers.
Presidential candidate Romuald Wadagni (C) wave at supporters as he arrives at a campaign rally in Cotonou on April 10.
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