Lamido Sanusi was pushed out of the Nigerian Central Bank for calling out massive corruption.
He lost his position as Emir of Kano in similar circumstances.
2. BUA Group signs France’s Axens for new refinery project
© Abdulsamad Rabiu, Chairman of BUA Group, at the signing ceremony in Paris on 1 September / Bruno Levy for The Africa Report
France’s largest hydrocarbons group Axens won a contract to license key refinery technologies to one of Nigeria’s leading industrial conglomerates, the BUA Group.
For Abdulsamad Rabiu, Chairman of BUA Group, the economics of the project are a ‘no-brainer’: “Nigeria imports 90% of it’s petroleum products. We spend 35% of our foreign exchange on importing petroleum products.”
3. How Nigeria is faring nearly two weeks into COVID-19 lockdown
The spread of the coronavirus disease (COVID-19), in Abuja © A police officer is pictured at a road block while the spread of the coronavirus disease (COVID-19) continues in Abuja, Nigeria 9 April 2020. REUTERS/Afolabi Sotunde
The Nigerian government rolled out measures to fight off the coronavirus after launching lockdown procedures on 30 March.
A Presidential Task Force on Coronavirus urged state governments to ensure that they have isolation facilities in their localities.
4. Nigeria encouraged to let naira fall further as currency market locks up
© Further “adjustments” to the value of the naira may be needed. REUTERS/Afolabi Sotunde
As the coronavirus pandemic bit, pressure mounted on Nigeria’s currency. The Nigerian central bank’s move to adjust the value of the naira represents what is likely the first instalment in finding a sustainable level for the currency.
The central bank in March weakened the parallel market rate to 380 naira to the US dollar from 365, with the central bank calling the move an “adjustment” rather than a devaluation.
5. President Buhari opens land border at Seme, Illela, Maigatari, and Mfun
© Nigeria’s land border with Benin at Seme in July 2019 /Afolabi Sotunde
The Nigerian president finally opened the land border at Seme, Illela, Maigatari, and Mfun.
The land borders were closed to goods in August 2019, with partial openings and closings for people prompted by the coronavirus pandemic throughout 2020.
6. Davido, Burna Boy, Rema… Nigeria’s musical moment
© A sell-out gig at London’s O2 Arena for Davido in January 2019/ MATT CROSSICK/PA WIRE/ABACA
Davido, D’banj, Wizkid, Tiwa Savage… Nigerian musicians are global stars.
But behind the VIP-studded after-parties, and signings with major labels, is the 100% Naija ecosystem that got them there.
7. Lagos burns after army accused of ‘Lekki massacre’
© A demonstrator during protest against alleged police brutality in Lagos, Nigeria October 17, 2020. Picture taken October 17, 2020. REUTERS/Temilade Adelaja
The attack on protestors last night was a new chapter for the #EndSARS protests, with far-reaching consequences for the future politics of the country.
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We believe that Africa is poorly represented, and badly under-estimated. Beyond the vast opportunity manifest in African markets, we highlight people who make a difference; leaders turning the tide, youth driving change, and an indefatigable business community. That is what we believe will change the continent, and that is what we report on. With hard-hitting investigations, innovative analysis and deep dives into countries and sectors, The Africa Report delivers the insight you need.
