ABUJA, Nigeria (AP) — Nearly 300 kidnapped Nigerian schoolchildren have been released, local officials said Sunday, more than two weeks after the children were seized from their school in the northwestern state of Kaduna and marched into the forests. At least 1,400 students have been kidnapped from Nigerian schools since 2014, when Boko Haram militants … Read more
KURIGA, Nigeria (AP) — Rashidat Hamza is in despair. All but one of her six children are among the nearly 300 students abducted from their school in Nigeria’s northwest, riddled with Islamic extremists and armed gangs. It has been more than two days after her children — ages 7 to 18 — went to school … Read more
Armed men broke into a boarding school in northwestern Nigeria early Saturday and seized 15 children as they slept, police told The Associated Press, about 48 hours after nearly 300 students were taken hostage in the conflict-hit region. School abductions are common in Nigeria’s northern region, especially since the 2014 kidnapping of more than 200 … Read more
Updated Jan. 16, 2024 5:42 am ET Shell has agreed to sell its Nigerian onshore oil subsidiary for up to $2.4 billion, making good on a promise to exit what was for decades one of its most dependable cash cows but in recent years has become a big drag on its reputation. The London-based energy … Read more
The French Minister Delegate for Foreign Trade, Economic Attractiveness and French Nationals Abroad, Mr Olivier Becht has described Nigeria as one of the most attractive countries on the African continent for partnerships with young entrepreneurs. The minister who visited Nigeria last week for the 10th anniversary celebration of The French Tech Mission in the country … Read more
UTOMI EKPEI/AFP via Getty Images) AFP via Getty Images As the Central Bank of Nigeria continues to clear the outstanding FX backlog, the Naira continues to swing above and below the $1/₦1,000 band in both the parallel and official market, while the Bitcoin price has been rallying above $36,000—its previous May 2022 all-time high. Background … Read more
Sources: 1 Morgan Stanley Investment Management calculations using UN Population Database data from Haver Analytics. 2 Morgan Stanley Investment Management calculations using IMF and UN data. 3 Africa’s new millionaires are coming from its less fashionable economies, Semafor, April 13, 2023. https://www.semafor.com/article/04/13/2023/africas-new-millionaires-not-from-nigeria-south-africa 4 On why I remain bullish on Nigeria, Ken Opalo, Substack, March 16, 2023. https://kenopalo.substack.com/p/on-why-i-remain-bullish-on-nigeria … Read more
Benedict Oramah, the President and Chairperson of the African Export-Import Bank (Afreximbank), announced the completion of the first oil production project initiated by Nigeria. Oramah said that this project will produce 650,000 barrels of oil per day, adding 4% to Nigeria’s gross domestic product (GDP) for a certain period. He stated that this project represents … Read more
Still, the brand is gaining recognition internationally. Ten years in, Iamisigo is available in seven countries, including France, India and the US, with approximately 70 per cent of sales coming from wholesale and 30 per cent direct-to-consumer. In September, she was one of four designers to create a one-off collection for Victoria’s Secret’s film, The … Read more
More than two years have passed since Africa’s biggest economy banned licensed banks from engaging in cryptocurrency-related activities as a means to clamp down on a surge of unregulated transactions. Yet, despite such regulatory limitations, Nigeria’s crypto market has defied the odds and consolidated its status as a key transactional vehicle in the sub-Saharan nation. … Read more