Chief Correspondent, Nigeria, Lagos
Tim's Feed
Apr 22, 2013

Nigeria says heavy fighting in northeast, death toll unknown

ABUJA (Reuters) – Nigerian authorities said on Monday there had been heavy fighting between security forces and Islamist militants in a remote part of the northeast, but there was no confirmation of reports from a local official that 185 people had been killed.

Fighting erupted on Thursday in Baga, a fishing town in Borno state on the shores of Lake Chad, by the Chadian border — an area officials say is a stronghold for Islamist fighters and a smuggling point for weapons from across the Sahara.

Apr 17, 2013

Nigeria’s Oando close to financing Conoco deal: CEO

LAGOS (Reuters) – Nigerian oil firm Oando (OANDO.LG: Quote, Profile, Research, Stock Buzz) is close to securing funds to buy ConocoPhillips’ (COP.N: Quote, Profile, Research, Stock Buzz) Nigerian assets, the company’s chief executive said on Wednesday, as he looked to allay fears it is struggling to raise finance for the $1.79 billion deal.

Wale Tinubu told Reuters in an interview in Nigeria’s commercial hub Lagos that the firm, having already raised the additional equity needed in February with a rights issue, now also has agreed in principle the necessary debt.

Apr 16, 2013

Africa’s richest man plans to build refinery in Nigeria

LAGOS (Reuters) – Africa’s richest man, Aliko Dangote, plans to invest up to $8 billion to build a Nigerian oil refinery with a capacity of around 400,000 barrels a day by late 2016, the tycoon told Reuters on Tuesday, almost doubling Nigeria’s refining capacity.

“This will really help not only Nigeria but sub-Saharan Africa. There has not been a new refinery for a long time in sub-Saharan Africa,” Dangote said in a telephone interview.

Apr 10, 2013

Top investment banks seek to join Nigeria bourse: CEO

LAGOS (Reuters) – Nigeria’s stock exchange .NGSEINDEX is reviewing applications from some leading global investment banks to join its trading floor, as reforms aimed at improving liquidity and transparency bear fruit, its CEO said on Wednesday.

Bourse CEO Oscar Onyema told the Reuters Africa Investment Summit in Lagos that a return of confidence in the market from domestic investors burned by a 2009 financial crisis had reversed the trend of foreigners holding most Nigerian shares.

Apr 9, 2013

Will Nigerian boom babies feed prosperity or entrench poverty?

LAGOS (Reuters) – In the time it takes to read this article, Nigeria will have added 50 people to its population, or about 11,000 a day. While some see these new consumers feeding an engine of prosperity, others fear they will create a crisis of poverty and unrest.

By 2050, the global Population Reference Bureau (PRB) projects it will be the world’s fourth most populous country, with 400 million people – just less than the projected figure for the United States, but with only a tenth of its territory.

Apr 9, 2013

Ecobank signs deal to partner with ICICI Bank

LAGOS (Reuters) – Pan-African lender Ecobank Transnational (ETI) (ETI.LG: Quote, Profile, Research) has signed a memorandum of understanding to partner with India’s second largest bank ICICI (ICBK.NS: Quote, Profile, Research) to make itself a hub for Indian investment into Africa, Ecobank’s CEO said on Monday.

CEO Thierry Tanoh told the Reuters Africa Investment Summit that a similar alliance with South Africa’s Nedbank (NEDJ.J: Quote, Profile, Research), had helped it gain better access to markets in southern Africa.

Apr 8, 2013

Nigeria’s Fidelity Bank asks Citi to raise $350 mln Eurobond

LAGOS, April 8 (Reuters) – Nigeria’s Fidelity Bank
has asked Citibank to lead manage a planned
5-year Eurobond this year that should come in at around $350
million to fund oil, power and infrastructure projects, the CEO
said on Monday.

Fidelity CEO Reginald Ihejiahi told a Reuters Africa
Investment Summit in Nigeria’s commercial hub of Lagos that the
bond would help meet demand for dollar financing, much of it
from energy clients in Africa’s top oil and gas producer.

Apr 8, 2013

Ecobank signs deal to partner with India’s ICICI

LAGOS (Reuters) – Pan-African lender Ecobank Transnational (ETI) (ETI.LG: Quote, Profile, Research, Stock Buzz) has signed a memorandum of understanding to partner with India’s second largest bank ICICI (ICBK.NS: Quote, Profile, Research, Stock Buzz) to make itself a hub for Indian investment into Africa, Ecobank’s CEO said on Monday.

CEO Thierry Tanoh told the Reuters Africa Investment Summit that a similar alliance with South Africa’s Nedbank (NEDJ.J: Quote, Profile, Research, Stock Buzz), had helped it gain better access to markets in southern Africa.

Mar 22, 2013

Chinua Achebe, grandfather of African literature, dies at 82

LAGOS (Reuters) – Nigerian novelist and poet Chinua Achebe, widely seen as a grandfather of modern African literature, has died at the age of 82, publisher Penguin said on Friday.

Achebe made his name more than 50 years ago with his novel “Things Fall Apart,” about his Igbo ethnic group’s fatal brush with British colonialism in the 1800s. It was the first time the story of European colonialism had been told from an African perspective to an international audience.

Mar 22, 2013

Grandfather of African literature, Chinua Achebe, dies aged 82

LAGOS, March 22 (Reuters) – Nigerian novelist and poet
Chinua Achebe, widely seen as a grandfather of modern African
literature, has died at the age of 82, publisher Penguin said on
Friday.

Achebe made his name more than 50 years ago with his novel
“Things Fall Apart,” about his Igbo ethnic group’s fatal brush
with British colonialism in the 1800s. It was the first time the
story of European colonialism had been told from an African
perspective to an international audience.

    • About Tim

      "“I am the Bureau Chief for Nigeria. Before that I covered West Africa for 2 years from Ivory Coast, Iraq for 2 years (from Baghdad), and east and central Africa for 5 years, including Uganda, eastern DRC, South Sudan, Kenya and Madagascar.”"
      Joined Reuters:
      2005
      Languages:
      English, French
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