Africa biggest economy is in need of emergency loans to plug a big hole in its budget. Nigeria is seeking a three point five billion dollars from the World Bank and African Development Bank. Nigeria's heavy reliance on revenues from oil at a time when the price of crude has fallen like a stone has forced the government to seek money from multi-national lending institutions. Doctor Obadiya Mai Lafiya, a former deputy governor of the Central Bank of Nigeria, told the BBC that the financial crisis will force his country to diversify its economy. However John Ashbourne, the Africa economist at Capital Economics, says a loan of three point five billion dollars will not fix Nigeria's budget shortfall.
The credit ratings agency Standard and Poors is ready to downgrade its assessment of the economies of five economies in Sub Saharan Africa, but Nigeria is not one of them. S and P's primary credit analyst for Africa, Ravi Bhatia told the BBC......which countries have a one in three chance of suffering a downgrade, that could make it more expensive for them to borrow money on the international markets.
Google will unveil details of its earnings for the fourth quarter later today and for the first time its parent Alphabet will divide the results into two chunks...the internet and other technology businesses that earn the money, as well as the side of the operations that is developing several projects. Dave Lee is the BBC's technology reporter in California.
The Police in Tanzania and and local anti-poaching groups are closing in on suspects they believe are responsible for killing a helicopter pilot, Roger Gower. It's reported four people have been arrested and several more detained in connection with the shooting. Tanzanian authorities are currently interrogating the men and believe to know the names of three other Tanzanian nationals who are currently on the run. More than 40 people from Tanzanian police, military and private anti-poaching NGOs are currently involved in the manhunt. The official said the the rifle used to shoot at Gower's helicopter is not an automatic weapon as reported by some media......Friedkin Conservation Fund said Roger Gower was helping to track the criminals when they fired on his aircraft. Pratik Patel is a spokesman with the group.
Marissa Mayer is the technology industry's ice queen - the chief executive who is supposed to save the internet giant Yahoo.......But she's been a controversial figure at the helm of the company - which has seen better days.....That hasn't stopped our regular commentator Lucy Kellaway of the Financial Times, from being a big fan.