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A 10% drop in Nigeria's currency by Dec. 2014. Foreign exchange reserves drop to $2 billion in Dec. 2014 putting Nigeria in a precarious financial situation.
Grouped Articles
Nigeria’s Tumbling Currency a Victim of Falling Oil Prices
Wall Street Journal 12/03/2014
Oil Prices Slip Further After IEA Report
Wall Street Journal 12/12/2014
Fall in Oil Prices Threatens Africa’s Economic Growth
Wall Street Journal 12/12/2014
Nigeria’s Central Bank Restricts Currency Trading to Prop Up Naira
Wall Street Journal 12/19/2014
Oil Prices Tumble to Fresh Lows
Wall Street Journal 01/06/2015
Iran’s Nuclear Deal Could Open Oil Flood
Wall Street Journal 03/17/2015
Grouped Articles
Nigerian President-Elect Muhammadu Buhari Sets Out His Agenda
New York Times 04/01/2015
Nigeria Is a Case Study in the Curse of Oil
Wall Street Journal 04/03/2015
Nigeria’s election: Three cheers for democracy
Economist 04/05/2015
Former Strongman, Taking Over Presidency, Raises Hope in Nigeria
New York Times 05/26/2015
Nigeria President Escalates Campaign to Stem Corruption
New York Times 10/16/2015
Nigeria Grapples With Abrupt End to Rapid Growth
Wall Street Journal 04/12/2016
The insurgency in the northeast leads to lack of security, leading to a decline in foreign investment. This adds to the problems created by lower oil prices in 2015, and the depreciating currency. Muhammadu Buhari, a northerner was elected by a 10 point vote margin in March 2015 to help improve the economic situation in Nigeria, Africa's largest country. The U.S. and Europe show a willingness to help the new Nigerian government tackle the many problems it faces.
Grouped Articles
Businesses Seek Out New African Frontiers
Wall Street Journal 04/01/2015
In Nigeria’s Election, Muhammadu Buhari Defeats Goodluck Jonathan
New York Times 03/31/2015
Muhammadu Buhari, a Familiar, and Now Less Divisive, Choice in Nigerian Election
New York Times 03/31/2015
Nigeria’s election: Three cheers for democracy
Economist 04/05/2015
Africa and commodity prices: No longer the kiss of death
Economist 04/30/2015
Former Strongman, Taking Over Presidency, Raises Hope in Nigeria
New York Times 05/26/2015
The lack of $30 million in dollar funds leads to closing of a refinery and long lines in Lusaka,, Zambia. A large supermarket in Kampala, Uganda, has empty shelves for imported products as it becomes costlier to import with a depreciating currency. Flights on a Portugal run airline into Angola now cost more. Infrastructure improvements are being delayed because of the extra cost. Throughout Africa one can see the impact of an appreciating U.S. dollar.
Grouped Articles
Wall Street Journal 03/25/2015
Businesses Seek Out New African Frontiers
Wall Street Journal 04/01/2015
African Pensions Funds Invest in Infrastructure Projects
Wall Street Journal 05/08/2015
Mining Collapse Cripples Africa’s Dreams of Prosperity
Wall Street Journal 03/04/2016
IMF’s African Push Reopens Old Wounds
Wall Street Journal 03/05/2016
Nigeria Grapples With Abrupt End to Rapid Growth
Wall Street Journal 04/12/2016
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