Bismarck Rewane News
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Nigeria’s Movement for the Emancipation of the Niger Delta threatened to bomb mosques and assassinate Muslim clerics, a week after saying it killed 15 security personnel in the southern oil-producing Bayelsa state.
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Nigerian central bank Governor Lamido Sanusi, who rescued the banking industry from near- collapse four years ago, said he won’t renew his contract when it expires in 2014.
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A government company that will buy Nigerian banks’ bad debts, which total about $6.6 billion, will provide a boost to the West African country’s stock exchange, Financial Derivatives Co. Ltd. said.
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Nigerian President Goodluck Jonathan risks sectarian clashes when he announces whether he will seek election: in the Muslim north if he does, and in his native oil- rich Niger River delta in the south if he doesn’t.
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Oil production in Nigeria, Africa’s biggest producer, is down by about 1 million barrels a day because of violence and theft in the Niger River delta, according to the state oil company.
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Nigerian lawmakers are seeking to limit the central bank’s autonomy and curtail Governor Lamido Sanusi’s powers after he criticized them for overspending and doubled interest rates.
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Nigerian labor unions suspended strikes and protests in Africa’s top crude producer after President Goodluck Jonathan limited gasoline-price increases.
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Nigeria’s inflation rate declined to an annual 11.1 percent in February, remaining above the central bank’s target rate.
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Nigeria’s naira pared its losses against the dollar after dropping to the weakest on record on speculation that a rise in government spending and removal of fuel subsidies will cause further depreciation next year.
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Nigerian President Goodluck Jonathan is bolstering the credit rating prospects of Africa’s largest oil producer as he rejects demands from striking workers to reinstate fuel subsidies, Standard & Poor’s said.
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