By Stanley Opara Wednesday, 8 Dec 2010 Nigeria has the second highest rate of inflation among 12 major oil producing nations in the world, investigation by our correspondent has revealed. The country’s inflation rate, which is currently 13.4 per cent, according to the National Bureau of Statistics, comes second after that […]

By Agency Reporter Wednesday, 8 Dec 2010 Irish Finance Minister Brian Lenihan said further cuts in social welfare spending are ”unavoidable,” as he published a 6bn-euro ($8bn) budget plan to halt a slide in investor confidence that forced the country into a bailout, Bloomberg reported on Tuesday. Lawmakers will begin voting […]

By Agency Reporter Wednesday, 8 Dec 2010 Nigeria is depleting its foreign currency reserves to defend the naira and running down oil savings before elections next year. According to Bloomberg on Tuesday, this may affect investor confidence as the government prepares its first global bond sale. Reserves fell by almost $10bn […]