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FG plans to end fuel Subsidy by 2012
Oct. 5 | Bloomberg – Nigeria’s government plans to end fuel subsidies, weaken the naira and raise spending by 7 percent in its budget next year as oil prices ease. Scrapping the fuel allowance, which is planned over the next three years, will save the...
Rogue trader, Ghanaian Kweku Adoboli arrested over UBS $2bn loss
Sep. 15 | Accused rogue trader, Ghanaian Kweku Adoboli. Photo Credit: Facebook By NAL Staff writer The City of London Police earlier today (Thursday, September 15) announces the arrest of Kweku Adoboli as a prime suspect in an illegal insider trading that is now...
Press Release: Sponsors Named For Upcoming U.S.–Africa Business Summit
Sep. 12 | Photo Credit: CCA Africa’s Strong Economic Growth To Be Showcased at Conference WASHINGTON, D.C. – The 8th Biennial U.S- Africa Business Summit, the premier international vehicle to enhance U.S. investment into the African continent, will be held...
Nigeria: CBN adds Chinese yuan to pool of foreign exchange reserves
Sep. 5 | Nigeria Approves Inclusion of Chinese Renminbi in External Reserves Press Release: The Central Bank of Nigeria (CBN) has finalized arrangements to diversify its external reserves holdings by including the Chinese Renminbi (RMB) to the existing currency...
Gadhafi’s fall: Europe lobbies for Libya oil
Aug. 24 | PRI – The rebels stormed Gadhafi’s compound in Tripoli on Tuesday, but NATO says it will continue operations over Libya for now. NATO won’t be the only international presence. Libya’s rebels are expected to receive help from the...
Okonjo-Iweala officially joins Team Goodluck
Aug. 17 | By NAL Staff writer Former World Bank director, Dr. Ngozi Okonjo-Iwaela on Wednesday was sworn in as Nigeria’s Minister of Finance and Coordinating Minister for the Economy. It is a triple A ministerial portfolio that shows the very important role that...
Breaking news: ‘World’s largest economy falls’
Aug. 5 | Reuters - The United States lost its top-notch AAA credit rating from Standard & Poor’s on Friday in an unprecedented reversal of fortune for the world’s largest economy. S&P cut the long-term U.S. credit rating by one notch to AA-plus...
Chinese credit rating agency slams U.S.
Aug. 3 | Guan Jianzhong , Chairman, Dagong Global Credit Rating Co. China Daily - The decision to lift the debt ceiling will not change the fact that the US national debt growth has outpaced that of its overall economy and fiscal revenue, which will lead to a...
African economies up to the global challenge
Jul. 28 | Cheikh Sidi Diarra, the UN special adviser on Africa and high representative for least developed countries (LDCs) By André-Michel Essoungou, Istanbul, Turkey Two foreign shoe sellers were once sent to Africa in search of new customers. At the sight of...
