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Tag Archives | Nigeria

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Nigeria – APC wins Osun governor's election

Rauf Aregbesola of the opposition All Progressives Congress (APC) has won re-election as governor of Osun State in the south-west. Mr Aregbesola won over 56% of the almost 700,000 votes cast in the election held on Saturday, August 9, while his opponent, Iyiola Omisore of the People’s Democratic Party (PDP), won 42%. The Labour Party […]

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Nigeria – Monetary policy instruments left unchanged

The first Monetary Policy Committee (MPC) meeting led by the new governor, Godwin Emefiele, was held on July 22. As at the May MPC meeting of the Central Bank of Nigeria (CBN), all monetary policy instruments were left unchanged. In January, the cash reserve requirement (CRR) on public sector deposits was raised from 50% to […]

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Nigeria – Boko Haram strikes in Jos

Yet another presumed Boko Haram terror attack took place on Tuesday, May 20, killing at least 188 people in Jos. The attack took the form of a double car bomb attack at Terminus Market in the central business district of Jos, which is the capital of Plateau State. The first bomb went off at around […]

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Nigeria – GDP nearly doubles following rebasing

Nigeria now has the largest economy on the continent following the release of much-anticipated preliminary rebased GDP statistics. The previous base year of 1990 has become outdated due to changes in the structure of the economy. The National Bureau of Statistics (NBS) now estimates Nigeria’s GDP at N80.22trn in 2013 compared to N42.4trn prior to […]

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Nigeria – Shake-up in the military about politics, not a coup

On Thursday, January 16, President Goodluck Jonathan sacked his high command and brought in fresh blood. The president was spurred by infighting among his military commanders that hindered the fight against Boko Haram and the pressing need to modernise command structures. Key Nigerian sources dismissed any speculation that the move pre-empted a military intervention, stating […]

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Nigeria – Real GDP growth rises in Q3

Nigeria’s real GDP growth improved in the third quarter on the back of higher oil production as well as an increase in non-oil GDP growth. Real GDP at factor cost expanded by 6.81% y-o-y in the third quarter of 2013, up from 6.18% y-o-y in Q2 and 6.56% y-o-y in Q1. The crude petroleum & […]

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