When crude prices fall, oil companies tend to pass on the reductions -- albeit grudgingly -- to motorists. In most of Africa, the same cannot be said of interest rates.
Three people were killed and 21 injured by an explosive device thrown from a car at an election rally near Nigeria's capital Abuja on Thursday, the latest act of political violence ahead of nationwide polls next month.
The Nigerian naira weakened further against the U.S. dollar on the interbank market on Wednesday as strong demand for the greenback persisted in the face of static supply, traders said.
Nigeria's state oil company had the poorest transparency record of 44 national and international energy companies evaluated in a report published by international watchdogs this week.
Muammar Gaddafi launched a land and air offensive to retake territory in Libya's east at dawn on Wednesday, sparking a rebel call for foreign air strikes against African mercenaries they said were helping him cling to power.
Brewer SABMiller is to spend over $100 million to build a new brewery in Africa's second largest beer market Nigeria to take on the country's brewing heavyweights Heineken and Diageo.
Nigeria's state asset management company said on Monday it was set to start the second round of non-performing loan purchases from the banking sector and was on track to soak up all bad credit by the end of next month.
A Illinoise man was in disbelief after learning that he invested two and a half years of his life as well as $200,000 on a fake online girlfriend.
Nigeria's parliament has begun a detailed debate of the latest version of long-delayed reforms to Africa's biggest energy industry, just two months ahead of elections, the head of the state oil company said on Wednesday.
Pfizer Inc said it has settled all outstanding lawsuits involving accusations that it tested the experimental antibiotic Trovan on children in Nigeria during a 1996 meningitis outbreak without receiving adequate prior consent.
Nigerian Central Bank Governor Lamido Sanusi said on Monday he did not believe that the naira was over-valued and criticised advice from the IMF, which last week recommended greater exchange rate flexibility.
French oil major Total will reduce production of its Angolan crude grade Dalia in April for planned maintenance, trade sources said on Thursday.
Nigeria's economy is expected to grow around 7 percent this year, down from 8.5 percent in 2010, with growth moderating gradually in subsequent years, the International Monetary Fund (IMF) said on Thursday.
Nigeria distributed 414.3 billion naira from federal accounts to its three tiers of government for January, up 0.85 percent on the previous month, the acting accountant general said on Monday.
Inflation is likely to rise further in Mauritius, central bank governor Rundheersing Bheenick said on Saturday, reinforcing speculation that the central bank may raise rates at its March meeting.
At least 11 people were trampled to death on Saturday in a stampede at an election campaign rally for Nigerian President Goodluck Jonathan in the southern oil city of Port Harcourt.
China’s Foreign Minister Yang Jiechi has arrived in Zimbabwe to start a five-nation tour of Africa, amidst reports the two nations have signed a $10-billion trade deal.
Nestle, the world's biggest food group, said on Thursday it would invest 1 billion Swiss francs expanding capacity in Africa over the next two years.
Four of the nine Nigerian banks rescued in a $4 billion bailout two years ago are expected to sign agreements with new investors over recapitalisation this month, Central Bank Governor Lamido Sanusi said on Wednesday.
Nigerian President Goodluck Jonathan, the strong favourite to win an April presidential election, has said he will stand for only one term, a move which may help to appease some of his northern opponents.
The African Union said on Friday it would form a panel of heads of state to solve the leadership crisis in Ivory Coast which would come up with a legally binding settlement within one month.
Nigeria's combined crude oil and condensate production is currently 2.4 million barrels per day (bpd) but output from Africa's largest crude exporter still remains within its OPEC quota, the state oil company says.
