Lower oil income and domestic political instability are among the greatest risks facing Nigeria, the International Monetary Fund said.
An Islamic court in northern Nigeria sentenced four men 15 lashes each after confessing to having gay sex four years ago.
Diepreye Alamieyeseigha, who was pardoned by Nigerian President Goodluck Jonathan after being charged with laundering 1.8 million pounds ($3 million) in the U.K., has been appointed to a national conference to propose changes to the constitution.
Nigeria’s main opposition party, the All Progressives Congress, said creating jobs and combating corruption are the most urgent challenges facing Africa’s biggest oil producer.
The Organization of Petroleum Exporting Countries will reduce crude exports this month as refiners in Asia prepare for seasonal maintenance, according to tanker-tracker Oil Movements.
Nigeria’s militant Islamist group, Boko Haram, may try to attack foreign businesses outside its northeastern heartland, a former U.K. Defense Attache to Nigeria said.
Lafarge SA’s Kenyan unit said it will report an improved financial performance this year after posting a second straight decline in annual profit.
Yum! Brands Inc., the owner of the KFC fast-food chain, said it’s looking at entering Ethiopia, Africa’s second-most populous nation, as it expands across the continent.
Arqaam Capital Ltd., a Dubai-based investment bank focusing on emerging markets, said it plans to trade African bonds and derivatives after opening a brokerage in Johannesburg in January.
India, Asia’s second-biggest energy user, is in talks with Saudi Arabia and Kuwait for better terms on oil contracts as surging U.S. output frees up supplies.
Sharma Eyes Nigeria as Next EM Leader
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