NewsWest Africa

Tue,24Apr2018

West Africa

Nigeria supports OPEC cut extension under "the right terms"

 In this Nov. 19, 2012 photo, a petrol attendant fills a car at a Total petrol station in Lagos, Nigeria. Photo: AP Photo/Sunday AlambaNigeria supports an extension of a deal between OPEC, Russia and other non-members to cut oil supply until the end of 2018 "as long as the right terms are on the table" regarding its own participation, its oil minister, Emmanuel Ibe Kachikwu said on Monday (November 06).

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Chad and Glencore to meet in Paris today to discuss debt - gov't sources

This April 14, 2011 file picture shows the Glencore headquarters in Baar, Switzerland. Photo: Urs Flueeler/AP/SIPAChadian government officials will meet Glencore executives in Paris today to discuss restructuring the country's debt, two senior Chadian government sources with knowledge of the matter told Reuters on Sunday.

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Nigeria moves towards border controls on hard currency

Oct. 20, 2015; ,money changer counts Nigerian naira currency at a bureau de change in Lagos, Nigeria. Photo: Sunday Alamba/AP/SIPAA draft law to ease a dollar shortage by restricting movement of hard currency in and out of Nigeria passed its second parliamentary reading on Wednesday.

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African Development Bank says could consider $400 mln loan for Nigeria

Money from the AFDB would be redirected to specific projects in Nigeria. In this photo, Felix Okilo clears refuse at the back of his wooden house in the Ajegunle area of Lagos, June, 2005. Photo: GEORGE OSODI/AP/SIPAThe African Development Bank said on Tuesday it could consider an additional $400 million for Nigeria to support its growth and recovery efforts and was in talks with the government on how to help it reinvigorate Africa's largest economy.

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Chad hires Rothschild to advise on $1 bln Glencore debt - sources

 In this April 14, 2011 file picture the Glencore headquarters in Baar, Switzerland is photographed. Photo: Urs Flueeler/AP/SIPAChad has hired Rothschild & Co to advise it on restructuring its external debt, namely a more than $1 billion loan from oil trader Glencore, four sources familiar with the matter said.

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West African leaders plan shared currency by 2020

Nigerian President Buhari speaks at U.N. headquarters, Sept. 19, 2017. He has urged caution against a shared currency. Photo: Mary Altaffer/AP/SIPAA group of four West African presidents said on Tuesday they planned steps to accelerate the creation of a shared currency for the 15-country ECOWAS bloc by 2020, according to a joint statement.

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