Nigerian President Rejects Currency Devaluation

• Monday, 22nd February 2016
• by Egypt Oil & Gas

Nigeria’s President, Muhammadu Buhari, has reiterated that the country will not devalue its national currency, the naira, in spite of the fact that it has dropped on the secondary market to the level of 360 per ...

Energy Firms Owe Nigerian Banks $20b

• Tuesday, 12th January 2016
• by Egypt Oil & Gas

Energy firms owe Nigerian banks N4t ($20b) as of September 2015, according to data from the Central Bank of Nigeria, Vanguard reports. The amount represents more than 30% of private sector loans in Nigeria and was a 1...