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Chijioke Ohuocha

Nigeria plans special economic zones to double manufacturing by 2025

10 Apr 2019

LAGOS Nigeria announced on Wednesday a target to double its manufacturing output to 20 percent of GDP within six years and will set up production hubs across the country in partnership with regional aid banks.

Nigeria plans special economic zones to double manufacturing by 2025

10 Apr 2019

LAGOS, April 10 Nigeria announced on Wednesday a target to double its manufacturing output to 20 percent of GDP within six years and will set up production hubs across the country in partnership with regional aid banks.

UPDATE 2-Nigeria's Oando sells stake in gas company for $41.5 mln to cut debt

04 Apr 2019

LAGOS, April 4 Nigerian oil company Oando said on Thursday it had sold its 25 percent stake in local gas and power company Axxela to majority investor Helios Investment partners for $41.5 million as it works on cutting its debt.

UPDATE 1-Nigeria's Oando aims to raise fresh capital, cut debt -CEO

03 Apr 2019

LAGOS, April 3 Nigerian oil company Oando aims to raise fresh capital over the next two years and repay debt used to acquire Conoco Phillips' Nigerian assets, its chief executive Adewale Tinubu told Reuters.

UPDATE 1-Nigeria's FCMB eyes debt sale to boost capital

02 Apr 2019

LAGOS, April 2 Nigerian banking group FCMB plans to raise tier II debt and retain profits this year to boost its balance sheet after the adoption of stricter accounting standards impacted its capital ratios, it said on Tuesday.

UPDATE 1-Nigeria aims to borrow at home and abroad to fund 2019 budget -fin min

27 Mar 2019

ABUJA, March 27 Nigeria plans to tap concessionary long-term loans to finance its 2019 budget in addition to borrowing at home, Finance Minister Zainab Ahmed said on Wednesday.

UPDATE 1-Nigerian bond yields drop after surprise central bank rate cut

27 Mar 2019

ABUJA, March 27 Nigerian bond yields fell slightly on Wednesday, a day after the central bank unexpectedly announced an interest rate cut aimed at stimulating growth in Africa's biggest economy, traders said.

UPDATE 3-Nigeria central bank in surprise cut to benchmark rate

26 Mar 2019

* Central bank governor tenure due to end in June (Adds traders, analyst and background)

Nigeria's Access Bank gets approval for Diamond Bank takeover

05 Mar 2019

LAGOS Nigeria's Access Bank said on Tuesday it had received shareholders' approval to take over rival Diamond Bank in a $235 million deal that would create Africa's largest bank by customers.

UPDATE 1-Nigeria's Dangote Cement says London listing likely to be 2020

01 Mar 2019

* Dangote Cement delays London secondary listing until next year

World News

Yellow vest demonstrators, police clash in Paris

Clashes broke out between dozens of demonstrators and police in Paris on the 23rd Saturday of yellow-vest protests after authorities warned that rioters could return to the French capital to spark a new wave of violence.