LAGOS/ABUJA, Aug 16 (Reuters) – Nigerian President Goodluck
Jonathan’s chances of winning vital support from the Muslim
north for a 2011 election bid have suffered a setback after two
rival northern candidates declared they would run against him.
Former military leader Ibrahim Babangida, known by his
initials IBB, on Monday announced he would seek the ruling
People’s Democratic Party (PDP) nomination, a quarter century
after first coming to power in a bloodless coup. [ID:nLDE67F0UA]
LAGOS (Reuters) – Royal Dutch Shell said on Sunday that sabotage of its crude oil pipelines in Nigeria’s southern Niger Delta had increased in recent weeks, but was silent on whether there had been any impact on output.
Shell’s Nigerian SPDC joint venture said it had recorded three incidents this month of suspected thieves drilling holes or using hacksaws to pierce pipelines in the Cawthorne Channel leading to its Bonny export terminal, and siphon off oil.
LAGOS, Aug 4 (Reuters) – Nigeria’s Securities and Exchange
Commission sacked the head of the stock exchange on Wednesday
and suspended its chairman, in what it said was a move to
restore investor confidence amid a raft of governance
The SEC said Nigerian Stock Exchange (NSE) Director-General
Ndi Okereke-Onyuike would be removed immediately and that an
interim administration would be announced before sub-Saharan
Africa’s second-biggest stock market opened on Thursday.
LAGOS (Reuters) – A former Nigerian bank chief who has been wanted for a year to face graft charges following a $4 billion bailout has returned home from the United Kingdom, the country’s anti-corruption agency said on Wednesday.
Erastus Akingbola, former chief executive of Intercontinental Bank, left for Britain after he and the heads of four other banks were sacked by the central bank and charged with graft and money laundering last August.
LAGOS, Aug 2 (Reuters) – Uncertainty over whether Nigerian
President Goodluck Jonathan will contest a presidential election
in six months time is clouding the outlook for policy and reform
in sub-Saharan Africa’s second-biggest economy.
The incumbent has increasingly acted like a head of state
who plans to be in office after the January polls, announcing
initiatives and policies with timeframes of several years in
sectors including power and infrastructure.
LAGOS, July 30 (Reuters) – Nigeria is close to agreeing a
framework to make private power generation for the national grid
commercially viable, potentially unlocking billions of dollars
of investment and helping end chronic power shortages.
Finance Minister Olusegun Aganga said a presidential task
force had met with independent power producers in the capital
Abuja on Friday and had agreed to establish a new power purchase
agreement within six weeks.
LAGOS, July 29 (Reuters) – Nigeria’s parliament will pass
wide-ranging legislation to reform its energy industry within
weeks, redefining the OPEC member’s relationship with its
foreign oil partners, the oil minister said on Thursday.
Deziani Allison-Madueke told CNN she was confident the
Petroleum Industry Bill (PIB), repeatedly delayed by revisions
and disagreement, would be made law within the next four to
LAGOS (Reuters) – Uncertainty over whether Nigerian President Goodluck Jonathan will stand in elections next year is largely due to a nebulous understanding that power rotates between the Muslim north and Christian south.
Although not formally set in writing, there is an agreement among the political elite in the ruling People’s Democratic Party (PDP) that the presidency should alternate between north and south after every two four-year terms.
ABUJA (Reuters) – Iranian President Mahmoud Ahmadinejad said on Thursday that the United States must make its position on Israel’s nuclear strategy clear before talks on Tehran’s atomic programme could resume.
Sanctions imposed by “arrogant” Western powers would not slow Iran’s nuclear progress, he said.
ABUJA (Reuters) – Eight developing Islamic economies including Nigeria, Iran and Pakistan aim to reach a preferential trade agreement by next year to try to double trade and deepen economic cooperation, government officials said on Thursday.
Heads of state and ministers from the Developing Eight Countries (D8) — Iran, Nigeria, Bangladesh, Egypt, Indonesia, Malaysia, Pakistan and Turkey — are meeting in Nigeria to discuss developing business ties and reducing trade barriers.