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☆ Nigeria battles to halt spiraling currency crisis and rising food insecurity
▼ + stars: | 2024-03-05 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

IBADAN, Nigeria - Feb. 19, 2024: Demonstrators hold placards during a protest against the hike in price and hard living conditions in Ibadan on February 19, 2024. Inflation hit an annual 29.9% in January, driven by soaring food prices that have triggered a cost-of-living crisis in Africa's largest economy. The naira currency, meanwhile, plunged to an all-time low of around 1,600 against the U.S. dollar in late February. "With about 8 percent of Nigerians deemed food insecure, addressing rising food insecurity is the immediate policy priority." IBADAN, Nigeria - Feb. 19, 2024: Demonstrators are seen at a protest against the hike in price and hard living conditions in Ibadan on February 19, 2024.

Persons: Samuel Alabi, Bola Tinubu's, David Omojomolo, Olayemi Cardoso Organizations: Afp, Getty Images, International Monetary Fund, U.S, Bloomberg, Getty, Washington, D.C, IMF, Central Bank of, Capital Economics Locations: IBADAN, Nigeria, Ibadan, Getty Images Nigeria, Africa's, LAGOS, Lagos, Africa

☆ Nigeria lawmakers pass 2024-2026 budget framework with naira at 700 to dollar next year
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

ABUJA, Nov 21 (Reuters) - Nigeria's lower house of parliament passed the medium-term expenditure framework for 2024-2026 on Tuesday, a set of assumptions that will be used to prepare the country's budget over the next three years. The naira last week briefly slumped to a record low of 1,105 against the dollar on the official market, bringing the official exchange rate within touching distance of the parallel market rate. The fiscal framework must also be passed by the upper chamber of parliament. Tinubu is also due to send the country's 2024 spending plan of 26 trillion naira ($34 billion) to parliament for approval. Below are some of the assumptions in the medium-term expenditure framework:Reporting by Camillus Eboh in Abuja Writing by Chijioke Ohuocha Editing by Alexander Winning and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Bola Tinubu's, firming, Camillus, Chijioke, Alexander Winning, Matthew Lewis Organizations: Thomson Locations: ABUJA, Tinubu, Camillus Eboh, Abuja

☆ Canada investigates fatal embassy explosion in Nigeria, issues travel alert
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

"We can confirm there was an explosion at our High Commission in Nigeria. Nigerian President Bola Tinubu's spokesperson said that there were deaths and injuries in a fire on Monday at the High Commission of Canada but did not give any figures. Canada's High Commission in Nigeria, without commenting on the explosion, said on social media that it had "temporarily suspended operations until further notice." The embassy issued a travel advisory, warning against non-essential travel to Nigeria, including capital Abuja, "due to the unpredictable security situation throughout the country and the significant risk of terrorism, crime, inter-communal clashes, armed attacks and kidnappings." Western countries routinely issue warning about travelling to Nigeria, which the Abuja government often dismisses as lacking merit.

Persons: Melanie Joly, " Joly, Bola Tinubu's, Tinubu, MacDonald Dzirutwe, Ismail Shakil, Cynthia Osterman, Sandra Maler Organizations: Ottawa, Washington, Commission, High Commission of, Thomson Locations: LAGOS, Canada, Nigeria, London, West African, High Commission of Canada, Canada's, Abuja, United States, Britain, Nigeria's, Lagos, Ottawa

☆ Nigeria Opposition's Obi Slams Court Ruling Confirming Tinubu Election Win
▼ + stars: | 2023-11-06 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

The Supreme Court judgment followed a pattern seen in previous presidential elections that have been challenged in court. Speaking for the first time since the ruling, Obi, a former two-term governor who campaigned as an outsider, told reporters the judgment was a disappointment and contradicted overwhelming evidence of election rigging, false claims of technical glitches, and other irregularities. Obi's supporters, known as the "Obidients", have been vocal in their criticism of the Supreme Court ruling. They have accused the court of being biased and of protecting the interests of the ruling party. Obi's rejection of the Supreme Court ruling is likely to resonate with his supporters, mostly young Nigerians who were attracted by his message of hope and change and see him as a break from the old guard.

Persons: Camillus, Peter Obi, Bola Tinubu's, Atiku Abubakar, Obi, Tinubu, Obi's, Camillus Eboh, Elisha Bala, Emelia Sithole Organizations: Reuters, Labour Party Locations: Camillus Eboh ABUJA, Nigeria

☆ Nigerian Supreme Court upholds President Tinubu's election win
▼ + stars: | 2023-10-26 | by ( Camillus Eboh | ) www.reuters.com time to read: +2 min

Nigeria's President Bola Tinubu looks on after his swearing-in ceremony in Abuja, Nigeria May 29, 2023. REUTERS/Temilade Adelaja/File Photo Acquire Licensing RightsABUJA, Oct 26 (Reuters) - Nigeria's Supreme Court on Thursday upheld President Bola Tinubu's election win, bringing to an end a legal challenge brought by his two main rivals, who argued that his victory was marred by irregularities. The judgment by seven Supreme Court judges, which is final, follows a pattern seen in previous presidential elections that have been challenged in court. "There is no merit in this appeal, and it is hereby dismissed," said Supreme Court judge John Okoro. The court also rejected Atiku's bid to introduce new evidence that alleged Tinubu had submitted a forged university certificate to the electoral agency.

Persons: Bola Tinubu, Temilade, Bola Tinubu's, Atiku Abubakar, Peter Obi of, Tinubu's, Tinubu, John Okoro, Camillus Eboh, MacDonald Dzirutwe, Estelle Shirbon, Sharon Singleton Organizations: REUTERS, Rights, People's Democratic Party, Labour Party, Thomson Locations: Abuja, Nigeria, Rights ABUJA, Africa's

☆ Nigeria's top court affirms Tinubu's election win
▼ + stars: | 2023-10-26 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsNigeria's top court affirms Tinubu's election winPostedNigeria's Supreme Court on Thursday (Oct. 26) upheld President Bola Tinubu's election win, bringing to an end a legal challenge brought by his two main rivals who argued that his victory was marred by irregularities. Trevor Koroll has more.

Persons: Bola Tinubu's, Trevor Koroll

☆ Nigeria Opposition Asks Supreme Court to Overturn President Tinubu's Victory
▼ + stars: | 2023-10-23 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

By Camillus EbohABUJA (Reuters) - Nigeria's two main opposition leaders on Monday asked the Supreme Court to quash last month's tribunal ruling upholding President Bola Tinubu's February election victory, in a last bid to reverse results of a vote widely accepted by the international community. No legal challenge to the outcome of a presidential election has succeeded in Nigeria, which returned to democracy in 1999 after three decades of almost uninterrupted military rule and has a history of electoral irregularities. On Sept. 6 the presidential tribunal rejected petitions by Atiku and Obi to cancel the election result over alleged irregularities. The provision has been interpreted differently by the opposition and Tinubu's lawyers. The Supreme Court, which has the final say in presidential election petitions, has 60 days to pass judgment from the day of the presidential tribunal ruling.

Persons: Camillus, Bola Tinubu's, Atiku Abubakar, Peter Obi of, Atiku, Obi, Tinubu, Camillus Eboh, MacDonald Dzirutwe, Deborah Kyvrikosaios Organizations: Reuters, Monday, People's Democratic Party, Labour Party, Atiku Locations: Camillus Eboh ABUJA, Nigeria, Abuja

☆ Nigerian state declares curfew after election tribunal sacks governor
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

Nigeria's newly declared winner of 2023 presidential election, Bola Tinubu speaks at the National Collation Centre in Abuja, Nigeria, March 1, 2023. REUTERS/Esa Alexander/File Photo Acquire Licensing RightsKANO, Nigeria, Sept 20 (Reuters) - Nigeria's northern Kano state declared a 24-hour curfew on Wednesday after a tribunal overturned the election of an opposition candidate as governor and declared a member of President Bola Tinubu's party the rightful winner. Ahead of the election tribunal ruling, security forces occupied major roads in the capital of Kano, which shares the same name. The March gubernatorial vote had seen Abba Yusuf of the New Nigerian Peoples Party, a regional party, defeating ruling All Progressives Congress party candidate Nasiru Gawuna, who alleged fraud. It is not unusual for governorship election results to be overturned in Nigeria, which has 36 states that are presided over by state governments.

Persons: Nigeria's, Bola Tinubu, Esa Alexander, Bola Tinubu's, Wednesday's, Abba Yusuf, Nasiru Gawuna, Yusuf, Hamza Ibrahim, MacDonald Dzirutwe, Sandra Maler Organizations: REUTERS, Rights, Police, New Nigerian Peoples Party, Progressives Congress, Supreme, Thomson Locations: Abuja, Nigeria, Rights KANO, Kano

☆ Nigeria's presidential election result challenged at Supreme Court
▼ + stars: | 2023-09-19 | by ( Camillus Eboh | ) www.reuters.com time to read: +1 min

REUTERS/Temilade Adelaja/File Photo Acquire Licensing RightsABUJA, Sept 19 (Reuters) - Nigeria's two main opposition leaders on Tuesday filed separate appeals at the Supreme Court challenging a tribunal ruling that earlier this month upheld President Bola Tinubu's victory in a disputed February election. Atiku, from the People's Democratic Party who came second in the election, said in a court filing that the tribunal erred in law "when it failed to nullify the presidential election ... on the ground of non compliance" with the electoral law. The two had up to Wednesday to challenge the Sept. 6 tribunal ruling. The Supreme Court, the highest in Nigeria, has 60 days to rule on the appeals. A five-member tribunal had rejected the challenge by Atiku, and Obi, who asked the tribunal to cancel the election, alleging irregularities.

Persons: Bola Tinubu, Temilade, Bola Tinubu's, Peter Obi, Atiku, Obi, Camillus Eboh, MacDonald Dzirutwe, William Maclean, Alexandra Hudson Organizations: Nigeria's, REUTERS, Rights, People's Democratic Party, Labour, Reuters, United Nations, Alexandra Hudson Our, Thomson Locations: Abuja, Nigeria, Rights ABUJA, New York

☆ Nigeria opposition to appeal verdict upholding Tinubu presidential win
▼ + stars: | 2023-09-07 | by ( Camillus Eboh | ) www.reuters.com time to read: +2 min

ABUJA, Sept 7 (Reuters) - Nigeria's main opposition candidates will appeal a tribunal ruling that affirmed Bola Tinubu's victory in a disputed presidential election in February that they claim was marred by irregularities, their lawyers said. But the Presidential Election Petition Court on Wednesday dismissed their petitions point-by-point in a judgment that lasted more than 11 hours. The ruling followed a pattern in previous election years in Africa's most populous country, where no legal challenge to the outcome of a presidential election has succeeded since Nigeria returned to democracy in 1999. "Consequently, I have asked my lawyers to activate my constitutionally guaranteed rights of appeal to the higher court, which, in the instance, is the Supreme Court." An appeal at the Supreme Court should be filed within 14 days from the date of the tribunal ruling.

Persons: Bola Tinubu's, Atiku Abubakar, Peter Obi, Atiku, Obi, Nick Zieminski, Elisha Bala, Richard Chang Organizations: People's Democratic Party, Labour, Labour Party, Thomson Locations: ABUJA, Africa's, Nigeria, Anambra

☆ Nigerian Election Tribunal Rejects Challenge to Tinubu's Presidential Win
▼ + stars: | 2023-09-06 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

By Camillus EbohABUJA (Reuters) - Nigeria's presidential election tribunal on Wednesday rejected an opposition challenge to Bola Tinubu's win in February's disputed vote, following a pattern seen in previous election years in Africa's most populous country. No legal challenge to the outcome of a presidential election has succeeded in Nigeria, which returned to democracy in 1999 after three decades of almost uninterrupted military rule and has a history of electoral fraud. Judge Haruna Tsammani, reading out a lengthy ruling on behalf of the tribunal's panel of five justices, rejected Obi's petition point-by-point. As the tribunal was giving its ruling, he was in India preparing to take part in the G20 summit there. Atiku and Obi can appeal to the country's Supreme Court to strike down the tribunal's ruling.

Persons: Camillus, Bola Tinubu's, Atiku Abubakar, Peter Obi of, Haruna Tsammani, Tinubu, Obi, MacDonald Dzirutwe, Estelle Shirbon, Alison Williams Organizations: Reuters, February's, People's Democratic Party, Labour Party Locations: Camillus Eboh ABUJA, Africa's, Nigeria, India

☆ Reaction to Gabon army officers announcing coup
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +4 min

Below are reactions to what appeared to be the eighth military coup in West and Central Africa since 2020. FRENCH GOVERNMENT SPOKESPERSON OLIVIER VERAN"We condemn the military coup and recall our commitment to free and transparent elections." EU HIGH REPRESENTATIVE FOR FOREIGN AFFAIRS AND SECURITY POLICY JOSEP BORRELL"If this is confirmed, it is another military coup which increases instability in the whole region. RUSSIAN FOREIGN MINISTRY SPOKESPERSON MARIA ZAKHAROVA"Moscow has received with concern reports of a sharp deterioration in the internal situation in the friendly African country. U.N. SECRETARY-GENERAL ANTONIO GUTERRES"The Secretary-General is following the evolving situation in Gabon very closely.

Persons: Gerauds Wilfried Obangome, Ali Bongo, Moussa Faki Mahamat, BOLA TINUBU'S, Bola Ahmed Tinubu, GENERAL PATRICIA SCOTLAND, OLIVIER VERAN, WANG WENBIN, Bongo, JOSEP BORRELL, MARIA ZAKHAROVA, JOHN KIRBY, It's, GENERAL ANTONIO GUTERRES, Nellie Peyton, Sofia Christensen, Alexander Winning, Sharon Singleton, Andy Sullivan Organizations: REUTERS, Central African, AU, H.E, WEST, BLOC ECOWAS, GENERAL, Commonwealth Secretariat, MINISTRY, EU HIGH, Thomson Locations: Libreville, Gabon, West, Central Africa, Gabonese Republic, Republic, NIGERIA, African Union, CHINA, China, Central African Republic, Mali, Burkina Faso, Niger, Moscow

☆ Nigeria sets eight-week timeline to agree minimum wage with unions
▼ + stars: | 2023-06-20 | by ( Camillus Eboh | ) www.reuters.com time to read: +2 min

ABUJA, June 20 (Reuters) - Nigeria's main labour unions and the government on Monday set an eight-week timeline to finalise an agreement to raise the minimum wage to help cushion the impact of high fuel prices after the removal of a popular but costly petrol subsidy. The Nigeria Labour Congress and the Trade Union Congress (TUC) had threatened to strike after fuel prices tripled following President Bola Tinubu's decision to scrap the subsidy. Talks with the unions are one of the first challenges the new administration faces as it pushes forward with a raft of economic reforms. "Everything must be rolled out within that time, (it is) not something that we are going to leave endlessly," he said. Reporting by Camilus Eboh; Writing Elisha Bala-Gbogbo, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

Persons: Bola Tinubu's, Dele Alake, Festus Osifo, Tinubu, Camilus Eboh, Elisha Bala, Ed Osmond Organizations: Nigeria Labour Congress, Trade Union Congress, TUC, Thomson Locations: ABUJA

But investors, burned by previous reforms that ultimately proved hollow, say it will take time to build trust and listed myriad questions over the final shape of the economy. Tinubu is from the same party as predecessor Muhammadu Buhari, dubbed "Baba Go-slow" for his pottering pace - taking six months to appoint cabinet members. Nigeria's international dollar bonds and the country's stock market have been boosted by the speedy reforms. Reuters GraphicsInvestors also worry about low tax receipts and falling oil output - structural reforms that will take far longer to sort. Meanwhile interest rates, which Tinubu has said he would like to see fall, were hiked by 50 bps last month to 18.5%.

Persons: Bola, Temilade, Bola Tinubu's, Tunde Ajileye, Muhammadu Buhari, Godwin Emefiele, Goldman Sachs, Andrew Matheny, John Mumo, Joe Delvaux, Amundi, Delvaux, Tinubu, Patrick Curran, Rachel Savage, Libby George, Karin Strohecker, Nick Macfie Organizations: Nigeria's, REUTERS, Central Bank, Reuters, Reuters Graphics, Tellimer, Thomson Locations: Abuja, Nigeria, JOHANNESBURG, LONDON, Lagos, Blakeney, Africa

ABUJA, June 4 (Reuters) - Nigeria's state oil firm NNPC Ltd is winding down crude swap contracts with traders and will pay cash for gasoline imports, its chief executive told Reuters, adding that private companies could begin importing petrol as soon as this month. And we now have an arm's-length process where we can pay cash for the imports," Kyari told Reuters in an interview late on Saturday. This is the first time NNPC has said it is terminating crude swap contracts. In its report detailing March crude oil loadings, NNPC also allocated crude to the swap contracts held by the consortiums. Nigeria has struggled to meet its OPEC oil quota of 1.742 million bpd due to grand oil theft and illegal refining.

Persons: Bola Tinubu's, Tinubu, NNPC, Kyari, MacDonald Dzirutwe, Camillus Eboh, Julia Payne, Susan Fenton Organizations: NNPC, Reuters, Dangote Refinery, Thomson Locations: ABUJA, Nigeria, Ukraine, Dangote, NNPC, Vienna

☆ Nigeria's Buhari defends election outcome, economic record
▼ + stars: | 2023-05-28 | by ( Felix Onuah | ) www.reuters.com time to read: +2 min

ABUJA, May 28 (Reuters) - Nigeria's President Muhammadu Buhari on Sunday defended his record on the economy and the outcome of a disputed presidential election, saying he was leaving a legacy of credible and fair votes, a day before he hands over power to his successor. Buhari first came to office in 2015 after promising to reboot the economy and end corruption and insecurity, but many Nigerians say these issues have worsened under his watch. Incoming President Bola Tinubu's victory is being challenged by his two closest opposition rivals, and on Tuesday a tribunal will begin to hear the main arguments in the election petition. Tinubu is inheriting anaemic economic growth, record debt and shrinking oil output. Life is tough for Nigerians, and a tangle of protectionist economic policies and foreign currency interventions have caused dollar shortages and spooked investors.

☆ U.S. imposes election-related visa restrictions on Nigerians
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, May 15 (Reuters) - The United States has imposed entry restrictions on more Nigerians for undermining the democratic process during the African nation's 2023 election cycle, U.S. Secretary of State Antony Blinken said on Monday. "These individuals have been involved in intimidation of voters through threats and physical violence, the manipulation of vote results, and other activity that undermines Nigeria’s democratic process," Blinken said in a statement. The action is the latest in a series of visa restrictions imposed on Nigerian individuals in recent years. Nigeria's election tribunal this month was to begin hearing opposition petitions challenging president-elect Bola Tinubu's victory in the disputed February presidential vote, court records showed. Atiku and Obi want the tribunal to invalidate Tinubu's victory, arguing that the vote was fraught with irregularities, among other criticisms.

☆ Nigeria's Obi says he, not Tinubu, won presidential election
▼ + stars: | 2023-03-02 | by ( Camillus Eboh | ) www.reuters.com time to read: +5 min

Summary Presidential election marred by technical problemsWinner Tinubu says vote was credibleChallenger Obi vows to overturn result in courtAfter vibrant campaign, turnout was record lowABUJA, March 2 (Reuters) - Nigerian presidential candidate Peter Obi said on Thursday he had won Saturday's election, called Bola Tinubu's victory fraudulent and promised to claim the top job through legal means. Tinubu, the ruling party candidate, was declared president-elect of Africa's most populous nation on Wednesday, having won 37% of the vote. He said the election was credible and the reported problems had had no impact on the overall outcome. "We won the election and we will prove it to Nigerians," he said. While neither generated the visible enthusiasm directed at Obi, both had powerful political machines and decades of networking behind them.

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