Dec 3, 2014/Bloomberg The plunge in oil prices exacerbated by last week’s OPEC meeting is punishing the bonds of African crude producers as the nations’ finances come under threat. The dollar bonds of Nigeria and Gabon, which derive about 70 percent of government revenue from oil exports, were the worst […]

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-The Organisation of Petroleum Exporting Countries (OPEC)  on Thursday elected Nigeria’s minister of Petroleum, Diezani Alison-Madueke as new president for 2015 succeeding Libya’s Abdourhman Ataher Al-Ahirish; as its says no Production cut amidst falling oil prices. According to the report, Alison-Madueke, Nigeria’s minister of Petroleum […]

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-The International Monetary Fund (IMF) on Wednesday endorsed the austerity measures put in place by the Nigerian government to maintain stability in the economy following global falling oil prices. Gene Leon, the IMF mission chief for Nigeria said: “In a combination of actions, most recently the […]