Ngozi Okonjo Iweala

Nigeria's political and statistical revolutions

altOne Sunday afternoon in April 2014, the size of the Nigerian economy nearly doubled.

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WEF tackles Africa's energy crises

Nigeria's Minister of Finance and Coordinating Minister for the Economy, Ngozi Okonjo-Iweala. Photo©ReutersAfrican governments are working hard to ensure electricity projects deliver change in local economies and communities Nigeria's Minister of Finance and Coordinating Minister for the Economy, Ngozi Okonjo-Iweala says.

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Nigeria: Fuel subsidy slashed following oil price slide

Photo©ReutersNigeria will slash petrol subsidies by 90 percent this year because government revenues have been hit by the slump in oil prices.

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Nigeria has already used half its annual borrowing allowance

Finance minister, Okonjo-Iweala had projected annual domestic borrowing last year would fall to below 500 billion naira from 577 billion naira in 2013. Photo©ReutersNigeria has already used half the borrowing allowance it has budgeted for and has not released any funds for capital expenditure so far this year, as lower oil prices eat into its revenues, the country's finance minister said on Tuesday.

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Nigeria slashes 2015 budget as oil price slump bites

Nigeria has more than halved capital expenditure to less than 10 percent of 2015 spending, axing badly needed infrastructure investment due to the collapse in the price of oil, the country's main source of revenue, according to the full budget submitted to parliament.

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Nigeria trims 2015 growth forecast amid uncertainty over oil and naira

Nigeria expects economic growth this year of 5.54 percent, down from an estimated 6.23 percent for 2014, after the government trimmed expenditure because of the oil price slump, the statistics office said on Thursday.

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Nigeria: Falling oil prices cut 2015 GDP growth

Nigeria's Finance Minister Ngozi Okonjo-IwealaNigeria's economy will grow 5.5 percent in 2015, down from an earlier projection of 6.4 percent, due to lower oil revenues, according to the budget the finance minister presented to parliament on Wednesday.

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Nigeria must adjust to "permanent" oil price shock

Nigeria's Finance Minister, Ngozi Okonjo-Iweala. Photo©ReutersNigeria's Finance Minister Ngozi Okonjo-Iweala says the West African country will have to adjust to oil prices heading lower for some time to come.

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Nigeria shields economy amid crude oil price fall

Economy and Minister of Finance minister Ngozi Okonjo-Iweala has announced new measures to safeguard Nigeria's economy. PhotoreutersThe Nigerian government has cut the 2015 oil benchmark from $78 to $73 per barrel, in a bid to shield the economy from falling global crude oil prices.

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Nigeria's rainy day savings to reduce impact of falling oil prices

Economy minister Ngozi Okonjo-Iweala says Nigeria can master the situation because it has a diverse base. Photo©ReutersFalling global oil prices have put a dent on Nigeria's economy and the government is seeking ways to diversify revenue streams to limit the impact.

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Boko Haram to hit Nigerian GDP again, but investors remain resilient

Nigeria's finance minister, Ngozi Okonjo-Iweala says after accounting for the impact of Boko Haram's insurgency, which she thinks will take half a percentage point off GDP growth, the country is expecting about 6.75 percent growth in 2014. Photo©ReutersBoko Haram's insurgency will slow Nigeria's economy again this year, knocking half a percentage point off growth like last year, the finance minister said on Tuesday, adding that her 6.75 percent 2014 growth forecast took this into account.

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Nigeria's business scorecard

Abuja, seat of political power in Nigeria, has promised a great deal to the business community. Photo©George Osodi/PANOS-REAFollowing the Nigerian government's announcement that the country has the largest gross domestic product in Africa, The Africa Report talked to investors and politicians to evaluate its performance in five key sectors.

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Nigeria's new plans to stop Boko Haram

Nigeria's Finance minister, Ngozi Okonjo-Iweala revealed the federal government’s enhanced plan of action against Boko Haram on Monday. Photo©ReutersNigeria plans to increase spending and deploy more troops in an effort to stop the scourge of the extreme Islamist group, accused of terrorism and abductions in the northern parts of the country.

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Nigeria beefs up security in Abuja for World Economic Forum

Nigerian Finance minister Ngozi Okonjo-Iweala says the tragic events [Monday bombing] will not stop Nigeria from delivering on their promise to host a world-class meeting. Photo©ReutersNigeria says it is prepared to host the World Economic Forum on Africa in May, despite growing insecurity, as the threat posed by extreme Islamist group, Boko Haram continues to grow.

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Nigerian parliament passes 2014 budget despite threats

Nigeria's national assembly passed the 2014 budget by a voice majority on Thursday, despite earlier threats by the main opposition coalition to block it in the lower house.

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Nigeria is on the rise, don't talk it down - Okonjo-Iweala

Nigeria's Finance Minister Ngozi Okonjo-Iweala. Photo©ReutersNigeria has a strong, buoyant economy receiving billions of dollars of foreign and domestic direct investment in power, petrochemicals, agriculture and consumer goods, but it needs to grow faster to reduce poverty, its finance minister said.

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Lamido Sanusi, The Fearless Nigerian

Lamido Sanusi leaves as he began, not with a whimper, but with a bang. And in a sense, it was ever going to be thus: the closely-woven elites that have monopolised power in Nigeria for decades only allowed a reformer into such a powerful position as central bank governor because of the unprecedented financial collapse of 2009.

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Nigeria: Going out with a bang not a whimper

Lamidu Sanusi, governor of Central Bank of NigeriaAfter shaking his country's ruling People's Democratic Party (PDP) party with accusations of missing billions, Nigeria's Central Bank governor Lamido Sanusi is going out with a bang.

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Nigeria: Hail to the chief

Jonathan still has friends in the Delta, but can he take the country with him? Photo©All Rights ReservedHelicopters whirred overhead, masquerade dancers weaved through the crowd, police sharpshooters took up position, the red carpet unrolled and the band played on. Down the road, a giant hoarding informally launched the election campaign.

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Election Watch 2014: A Nigerian go slow for Goodluck

Nigerian President Goodluck Jonathan. Photo©ReutersThe next president is to be inaugurated on 31 May 2015. According to the constitution, national elections must be held six months earlier, in November or December 2014.

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