Video - Nigeria to end joint venture agreement with foreign owned oil companies

Nigeria's state owned NNPC has signed a deal to exit the long standing joint venture agreement with international oil companies in a move seen to maximize benefits from the oil industry.Petroleum minister Ibe Kachikwu says his government can no longer afford paying oil companies under the joint venture cash call.

Nigeria's women's football team end protest

Nigeria's women's team have ended their sit-in protest at a hotel in Abuja after being paid money owed to them.

They were demanding US$23,650 per player from the Nigeria Football Federation (NFF) for winning the 2016 Women's Africa Cup of Nations.

The Super Falcons had been at the hotel in the capital since 6 December.

"The players have all left the hotel in Abuja after they started receiving payments alerts," the team's media officer Remi Sulola told BBC Sport.

One of the players also confirmed that she and her roommate had been paid.

"It's taken some time, [because banks don't work over the weekend] but we've finally received our money today," one player, who insisted on anonymity, told BBC Sport.

"We thank the government, the fans and media for their roles in making sure we got our hard-earned dues."

To mark the 10th day of their complaint the team protested outside parliament in Abuja while the annual budget was being presented.

This led to the government releasing about US$1.2m to the cash-strapped NFF on Friday to pay the ladies.

Nigeria's victory in Cameroon was their eighth African women's title and means they have only twice failed to win the women's championship since its inception in 1998.

The money was also used to settle outstanding win bonus for the men's team in the 2018 World Cup qualifiers.

BBC

Video - Nigeria's inflation rises to record high of 18.48% in November

Nigeria is projecting its economy to grow at over 2 percent next year, rising from a current recession that analysts fear could drag into depression. The country has registered negative growth for the last three consecutive quarters, but president Buhari is betting 24 billion dollars to turn things around. He tabled his spending plan on Wednesday. Another thing that the country is grappling with is inflation. Annual inflation rose to 18.48 percent in November, the highest in more than 11 years, and the tenth straight monthly rise. The rise from 18.3 percent in October reflected higher prices for housing, electricity and food.

Video - President Buhari presents $24 billion plan to revive economy

Nigeria's President Muhammadu Buhari has presented a record budget of 7.3 trillion naira, or just about 24 billion dollars for 2017. The budget marked an increase of 20.4 percent on last year's spending plan and seeks to boost spending to revive the economy. The country is currently in a recession largely caused by low global oil prices, as crude sales account for two-thirds of the government's revenue. Buhari said the budget was based on an exchange rate of 305 naira to the dollar and a projected oil output of 2.2 million barrels per day at an assumed price of 42.5 dollars per barrel.

Video - Recession, rising costs put a damper on the festive season in Nigeria

To give an indication of the economic situation in Nigeria, prices of some goods have more than doubled over the past year. And with Christmas just weeks away, people at a Nigerian market are not impressed.