Senior Correspondent, Sudan and South Sudan
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Nov 5, 2015

Lagos governor says first light rail project to be completed by Dec 2016

LAGOS, Nov 5 (Reuters) – Nigeria hopes the first phase of a
light railway aimed at easing traffic jams in the commercial hub
Lagos will be ready within 13 months, and is inviting bidders
for an expansion, Lagos State Governor Akinwunmi Ambode said on
Thursday.

China’s state-owned China Civil Engineering Construction
Corp (CCECC) began work on the $2.5 billion scheme in 2010,
hoping to open the line in 2011, but the project has suffered
delays that are typical in a country plagued by graft and
mismanagement.

Nov 5, 2015

Nigeria’s Buhari takes ministers on retreat, still no news on their jobs

LAGOS (Reuters) – Nigeria’s President Muhammadu Buhari took his ministers-in-waiting on a surprise two-day retreat on Thursday, extending an already long-delayed process of swearing in a cabinet in a country facing its worst economic crisis in years.

Some government officials were unable to attend an EU investment forum in commercial capital Lagos because of the previously unannounced gathering 475 miles (650 km) away in Abuja, EU trade commissioner Cecilia Malmstrom said.

Nov 3, 2015

Boko Haram ghosts haunt ‘liberated’ areas in Nigeria’s northeast

MUBI, Nigeria (Reuters) – Life seems to be returning to normal in this northern Nigerian town a year after the army expelled the Islamist fighters of Boko Haram — shops bustle with customers and vendors hawk their wares in the pot-holed streets.

President Muhammadu Buhari has vowed to crush Boko Haram by December and the army has recaptured much of the territory the jihadists seized in their six-year-old campaign to carve out an Islamic state in Nigeria’s remote northeast.

Nov 3, 2015

Insight – Boko Haram ghosts haunt ‘liberated’ areas in Nigeria’s northeast

MUBI, Nigeria (Reuters) – Life seems to be returning to normal in this northern Nigerian town a year after the army expelled the Islamist fighters of Boko Haram — shops bustle with customers and vendors hawk their wares in the pot-holed streets.

President Muhammadu Buhari has vowed to crush Boko Haram by December and the army has recaptured much of the territory the jihadists seized in their six-year-old campaign to carve out an Islamic state in Nigeria’s remote northeast.

Oct 23, 2015

Without a cabinet, Nigeria is stuck ‘on hold’

ABUJA (Reuters) – Seven months after Muhammadu Buhari was elected president on a promise to “fix” Nigeria, a policy vacuum has brought decision-making to a halt, hampering everything from national budget planning to new roads and art exhibitions.

Late on Thursday, the Senate ended yet another session screening Buhari’s ministerial candidates without giving its approval, leaving Africa’s biggest economy with no government since the former military ruler took office on May 29.

Oct 14, 2015

Tensions build in Nigeria’s oil-rich Delta

YENAGOA, Nigeria, Oct 14 (Reuters) – Enjoying a chilled
cider in a hotel pool bar, former Nigerian militant leader Ebi
John has a simple message for President Muhammadu Buhari – keep
paying my men or risk a new insurgency in the Niger Delta.

Tensions have been building in the southern swampland since
Buhari said in his inauguration speech in May that he wanted to
“streamline” an amnesty, that included stipend payments, agreed
in 2009 with militants who were fighting for a greater share of
oil revenues and hampering output in Africa’s biggest producer.

Oct 1, 2015

Buhari asks Nigeria to be patient about cabinet

LAGOS, Oct 1 (Reuters) – President Muhammadu Buhari said on
Thursday he had submitted a cabinet list to parliament for
approval but asked Nigerians to be patient with his four-month
search for a government to tackle the country’s worst economic
crisis for decades.

Foreign investors and Nigerian firms have criticised Buhari,
a 72-year old former military ruler, for waiting until late
September to nominate cabinet members when Africa’s largest
economy is taking a hammering from a plunge in oil revenues.

Sep 30, 2015

Nigeria central bank sees sufficient liquidity in banking system

LAGOS, Sept 30 (Reuters) – Nigeria’s central bank believes
there is sufficient liquidity in the country’s banking system
although it is concerned that Africa’s biggest economy is
slowing, its monetary policy director said on Wednesday.

Moses Tule said the bank’s decision last week to cut the
cash reserve ratio to 25 percent from 31 percent
had injected 300 billion naira ($1.51 billion) into the
financial system.

Sep 29, 2015

For now, Nigerians give Buhari benefit of doubt

LAGOS, Sept 29 (Reuters) – Nigerian beautician Rasheedat
Lawal has seen sales at her cosmetics salon plunge since
President Muhammadu Buhari came to power but she still thinks
the 72-year-old former dictator is the right person to fix
Africa’s largest economy.

The ascetic, sandal-wearing general’s first four months in
power have coincided with a renewed slide in global oil prices,
which has slowed economic growth in Africa’s top crude producer
and weakened the naira currency.

Sep 17, 2015

Exclusive: “Don’t panic,” Nigerian central bank head urges banks

ABUJA (Reuters) – Nigerian central bank Governor Godwin Emefiele ruled out on Thursday a naira devaluation and told people not to panic about the government shifting its bank accounts to the central bank, a move that drains billions of dollars from the financial system.

In an interview with Reuters, Emefiele said he was ready to inject liquidity if needed into the interbank market, which dried up this week following a directive to government departments to move their accounts into a “Treasury Single Account” at the central bank.

    • About Ulf

      "I am Senior Correspondent, Saudi Arabia, covering from the Saudi capital Riyadh political, economic and social news and in-depth analyses from the world's top oil exporter and biggest Arab economy. I have also reported for Reuters from Kuwait, Yemen and Iraq."
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