LAGOS, March 4 (Reuters) – The high cost of raw beans and
crippling power shortages in Africa’s top oil producer may force
its cocoa grinders to relocate to neighbouring countries with an
easier business climate, an industry association said.
Scores of firms in other industries have already relocated
from Nigeria in the last five years citing poor infrastructure,
erratic power supply, excessive bureaucracy and multiple
taxation among the factors that make business uncompetitive.
LAGOS (Reuters) – Nigeria’s former military leader Ibrahim Babangida on Monday became the first major politician to announce he will run for president next year.
The race for president of Africa’s most populous nation is expected to be wide open since many believe the ailing President Umaru Yar’Adua, a northerner, will not seek re-election.
LAGOS, Feb 19 (Reuters) – Nigeria’s privatisation agency on
Friday published letters promising financing from Dubai and
China for a $2.5 billion bid for former telecoms monopoly Nitel,
which it said were seen by its advisor, BNP Paribas.
Nigeria announced its preferred bidder for Nitel on Tuesday,
naming China Unicom and the Minerva Group from Dubai as part of
the New Generation Telecommunications Ltd consortium, whose bid
valued Nitel at five times what many thought it was worth.
LAGOS, Sept 6 (Reuters) – Nigeria has extended the deadline
for expressions of interest in its former telecom monopoly
Nitel, which has been struggling to find investors for the last
The Bureau for Public Enterprises (BPE) said on Tuesday it
had extended its Aug. 28 deadline following requests by
investors for more time to sort out issues with their proposed
technical partners. It was the government’s first update on the
tender since the deadline passed.
Nigeria marks its first 10 years of unbroken civilian rule on Friday after emerging from nearly three decades of uninterrupted military dictatorship on May 29, 1999.
The political elite in Africa’s top oil producer are rolling out the drums to celebrate the milestone. And why not?