Nigeria’s nationwide strikes against the government’s removal of fuel subsidies is costing Africa’s second largest economy around 100 billion naira ($617 million) a day, the central bank governor told Reuters on Thursday. Nigeria removed subsidies on petrol imports on Jan. 1, more than doubling the price of petrol to around […]

* Brent crude rises over $2 toward $115  * Union threatens to cut Nigerian oil supplies  * U.S. retail, jobless data tempers mood   (Recasts throughout with Nigeria, updates prices)   Brent crude jumped more than $2 to over $114 on Thursday after Nigeria’s biggest oil union said it would […]

A major union threatened Thursday to stop the beating heart of Nigeria’s economy — crude oil production — as part of a nationwide strike and protests gripping Africa’s most populous nation. World oil prices climbed on the news. Nigeria is the fifth-largest oil exporter to the U.S., and a shutdown […]