Investors Flee as Nigeria steadily descends into Recession

Brent oil prices held around $50 a barrel on Friday following an OPEC meeting that failed to agree on output targets, but which was seen as supportive as Saudi Arabia pledged not to flood the market with more fuel, but that is hardly cheering news for Nigeria as the Niger Delta Avengers militant group said on Thursday it had blown up two crude pipelines in Nigeria’s Bayelsa state in the Delta area.

Chinese Loan: Investors will remain reluctant to commit money to Nigeria until - Forbes thrashes Buhari's Chinese deal

Chinese Loan: Investors will remain reluctant to commit money to Nigeria until - Forbes thrashes Buhari's Chinese deal

The Forbes has described the recent Nigeria-China deal brokered by General Muhammadu as a short-term fix that will put Nigeria in deeper trouble in the coming years. According to the report, Buhari's borrowing of the money without any clear and feasible repayment plan will worsen Nigeria's economic woes. Moreover, it would not ease the pressure on dollar unless crude oil prices improves. So at the end of the day, Nigerians have just been handed over a counterfeit. Read the report below:

Nigeria's Promise turns to Peril as investors head for the exits - Bloomberg slams Buhari once again

Nigeria's Promise turns to Peril as investors head for the exits - Bloomberg slams Buhari once again

The promise of Africa’s biggest economy has turned to peril.

Retailer Truworths Throws in Towel on Biggest African Economy

Buhari's Defense of Naira Chokes Imports, Spurs Black Market

Companies drawn to Nigeria by the prospect of a population bigger than Germany and Turkey’s combined are retreating; those staying have publicly criticized the president, a military strongman in the 1980s who came back to power via an election last year; and foreign investors are pulling their money out.