Chief Correspondent; Nigeria
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Jan 7, 2011

Nigeria sees Eurobond, wealth fund before polls

LAGOS, Jan 7 (Reuters) – Nigeria plans to go ahead with its
delayed $500 million debut Eurobond in two to three weeks and
expects a bill to create a sovereign wealth fund to pass under
the current administration, the finance minister said on Friday.

Africa’s top crude oil exporter first announced plans to
borrow in the international bond market in September 2008 but
has put the issue on hold several times, most recently in
December, citing adverse market conditions.

Jan 6, 2011

Nigerian election rivals lock horns over economy

LAGOS (Reuters) – The two main rivals in Nigeria’s ruling party have locked horns over the country’s dwindling oil savings and the state of its public finances, putting the economy back in the spotlight a week ahead of the primaries.

President Goodluck Jonathan’s administration had spent the past few weeks defending itself against accusations that it has not done enough to guarantee national security, after bomb blasts in the capital Abuja and the central city of Jos.

Jan 6, 2011

Nigeria’s Lagos governor endorsed for second term

LAGOS (Reuters) – Nigeria’s Lagos state governor has been endorsed to run for a second term by his party, ending speculation that rivals might try to force him from what is arguably the most important political job outside the capital.

Babatunde Fashola will be the sole candidate for the Action Congress of Nigeria (ACN) party at the state governorship polls on April 13, party spokesman Lai Mohammed said. The party has run the state since Nigeria’s return to democracy in 1999, and its official candidate is not expected to face a serious rival.

Jan 4, 2011

Key political risks to watch in Nigeria

LAGOS, Jan 4 (Reuters) – Nigerian President Goodluck
Jonathan is waging a tough battle ahead of the presidential
primaries in two weeks time, a contest whose outcome could shape
the political and economic landscape for the next few years.

A wave of violence over Christmas and New Year, including a
fatal bomb attack in the capital Abuja, will test the strength
of Jonathan’s resolve as his opponents look to exploit any sign
of weakness ahead of the primaries. [ID:nLDE70101O]

Dec 10, 2010

Nigeria to postpone debut Eurobond – sources

LAGOS, Dec 10 (Reuters) – Nigeria is likely to delay a debut
$500 million Eurobond originally planned for this year because
of volatility in global markets, sources familiar with the
transaction said on Friday.

Sub-Saharan Africa’s second-biggest economy had planned a
roadshow to the United States next week and aimed to complete
the issue by the end of the year, but the plans were put on hold
at the eleventh hour because of market volatility due partly to
the debt crisis in Europe, sources said.

Dec 9, 2010

Nigeria leader had doubts over poll bid: WikiLeaks

LAGOS (Reuters) – Nigerian President Goodluck Jonathan had doubts this year about whether he would stand in elections next April, saying his focus was organizing credible polls, according to a leaked U.S. diplomatic cable.

The cable, obtained by WikiLeaks and published by Britain’s Guardian newspaper, says Jonathan told then-U.S. Ambassador Robin Sanders in February that he would only consider running if and when those around him sought to persuade him to do so.

Dec 7, 2010

Nigeria’s Babangida threatens to quit ruling party

LAGOS, Dec 7 (Reuters) – Former Nigerian military ruler
Ibrahim Babangida threatened on Tuesday to quit the ruling party
before elections next April, underlining deep divisions over the
candidacy of incumbent President Goodluck Jonathan.

Jonathan’s bid for the presidency of Africa’s most populous
nation is controversial because he is a southerner and inherited
office earlier this year when late President Umaru Yar’Adua, a
northerner, died part way through his first term.

Dec 7, 2010

Nigeria graft agency charges Cheney, Halliburton boss

LAGOS (Reuters) – Nigeria’s anti-corruption agency filed charges against former U.S. Vice President Dick Cheney and the head of oil services firm Halliburton Co on Tuesday over an alleged scheme to bribe Nigerian officials.

The Economic and Financial Crimes Commission (EFCC) said it had filed 16-count charges at a federal high court in Abuja against Cheney, Halliburton Chief Executive David Lesar and two other executives, in a case dating back to the mid-1990s.

Dec 2, 2010

Nigeria agency says to charge Cheney over Halliburton

LAGOS, Dec 2 (Reuters) – Nigeria’s anti-corruption police
said on Thursday they planned to file charges against former
U.S. Vice President Dick Cheney in a $180 million bribery case
involving a former unit of oil services firm Halliburton.

The Economic and Financial Crimes Commission (EFCC) on
Tuesday summoned the country chief of Halliburton (HAL.N: Quote, Profile, Research, Stock Buzz) and
last week detained 10 Nigerian and expatriate Halliburton staff
for questioning after raiding its Lagos office. [ID:nLDE6AT0RL]

Dec 1, 2010

Key political risks to watch in Nigeria

LAGOS, Dec 1 (Reuters) – Nigeria’s presidential race is wide
open with four months to go until polling day, government
spending is on the rise, and the threat of unrest hangs over its
its economic heartland, the oil-producing Niger Delta.

The ruling People’s Democratic Party (PDP), which has seen
its candidate comfortably win every leadership contest since the
end of military rule more than decade ago, is divided over its
nominee for the April polls. [ID:nLDE6AL1JI]

    • About Nick

      "Based in Lagos since early 2008, responsible for coverage of Africa's most populous nation. Previously based in Senegal for four years, covering West and Central Africa, and before that in Germany and Britain."
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