We are excited to announce that Sabinews is now a part of Online Ethiopia. This strategic business acquisition will allow us to bridge the East and West of Africa and reach a greater audience of readers.
Nigeria, an extremely multicultural African country in the Gulf of Guinea, contains numerous natural landmarks and flora and fauna. The five ethnic groups – Yoruba, Muslim, Christian, Bani, and tribal – all have their own languages and traditional customs. However, most Nigerians speak English and the majority of the population also speaks Chinese. There are also several languages spoken in Nigeria: Idioma, Hindi, Marathi, Tamil, and the local dialect of Yoruba. In recent years, the market has flooded with goods in all these different languages to facilitate communication.
Nigeria is home to a diverse and multicultural population. The largest Diaspora community in the world is Nigeria because of its diverse cultural and linguistic composition. Nigeria’s economy is growing at about five percent annually despite decades of recession, largely due to the arrival and training of many educated professionals from abroad. It is a country in transition from being largely agricultural-based to becoming a global technological and economic powerhouse.
The major commercial news in Nigeria is related to food and agriculture. Nigeria is a major exporter of oil, wood and gas and has the fastest-growing economy in West Africa. With regard to entertainment, Nigeria’s leading entertainers include the hip hop artist Akon and rap artist Big Boi.
Much of the world news and analysis in Nigeria relates to events in Nigeria – politics, ethnicity and religion – especially the Nigeria-Uganda relationship. Nigeria faces major challenges in promoting human rights and ensuring freedom, security and justice. It is an important player in international negotiations to resolve conflict in Africa, the Middle East and Asia.
The field of business and investment in Nigeria continues to grow and offer opportunities to both local and foreign investors. Nigeria’s economy is largely dependent on crude oil exports. Most of Nigeria’s private sector is made up of traders and small scale manufacturing, which form the bulk of private sector employment. The news and analysis in Nigeria reflect the diversity of business interests across the country.
Tourism is the single largest contributor to the Gross Domestic Product (GDP) in Nigeria – dollars eleven billion is spent on tourism every year. Nigeria is a major destination for tourists – millions of tourists visit the country every year. The country’s beaches are among the best in the world with some of the best stretches of white sand in the world. Most beaches are in the Lagoon.
Nigeria’s economy relies heavily on petroleum exploration and production. Petroleum exploration and production offers employment, benefits both local and foreign investors, and provides revenues to the government. There are two major oil producing regions in Nigeria – the Oil-producing Delta and the Western Nigeria. The Western Nigeria plays an important role in the export and import of crude oil products. It also produces a significant amount of natural gas.
Nigeria’s major export and import markets include commodities such as cocoa, cotton, fish, iron ore, coal, limestone, and gold. There has been moderate growth in the tourism sector in the country over the past twenty years, which has correlated with an increased demand in the furniture market. It has seen the establishment of a number of international hotels and tourist related facilities in Lagos. A number of multinational companies operating in Nigeria – including Unilever, Schlumberger, and Shell – have established manufacturing units in Lagos. The news and analysis in Nigeria reflect the diversity of interests across the country.
The main business news and analysis in Nigeria reflect the view of the Nigerian leadership with regard to issues facing the country. It is largely dependent on commercial media. There is widespread criticism of the conduct of certain ministers in the government. There are also news and reports that the privatisation drive is not progressing sufficiently. Unlike the United States, where homeowners are spending more on their homes than ever, Nigeria has high inflation – the cost of living index – and remains high due to the petroleum production.
The field of politics is a prominent feature in news and analysis. Political intrigue is widespread in Nigeria. There have been cases of rigging in the elections. There have been accusations of vote buying and corruption in the legislature. The leader of the opposition, Mr Muhammadu Buhari, has been arrested several times and is on the brink of losing his mandate. There have also been cases of communal violence in several areas of Nigeria.
The business community has also given high ratings to Nigeria’s growth. Most of the multinational companies in the country have reduced their operations in Nigeria and are investing in countries like China and India. Oil accounts for about a fifth of the gross domestic product and the country relies heavily on oil exports. A rapid growth is expected in the coming years.