NewsWest Africa

Sat,18Nov2017

West Africa

Nigeria "cannot borrow anymore", says finance minister

In this photo taken on  June. 20, 2016, a trader counts US Dollars inside a shop in Lagos, Nigeria. Photo: Sunday Alamba/AP/SIPANigeria must not borrow more to fund its budget and should instead raise money it needs by other means, the country's finance minister said on Tuesday, calling into question planned foreign loans of $2 billion from lenders like the World Bank.

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China, France eye Gambian port upgrade to rival Dakar

 A ferry bringing back people  arrives at the port in Banjul, Gambia, Jan. 21, 2017. Photo: Jerome Delay/AP/SIPAChinese and French companies are bidding to help Gambia build up its Atlantic port Banjul to be what industry sources say could be a rival to neighbouring Senegal's Dakar.

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Chinese factory accused of polluting Gambia's coastline

 A woman carries fresh fish, purchased from an incoming fishing boat, along a beach in West Africa. Photo: Rebecca Blackwell/AP/SIPAGambia's National Environmental Agency (NEA) has agreed to settle out of court with Chinese owned Golden Lead fishmeal factory, which it had taken to court for pollution and flouting proper waste management regulations.

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Tullow cuts debt, raises profit under new CEO but weak oil prices weigh

28062017GhanaAfrica-focused oil explorer Tullow Oil reduced debt in the first half of the year and reported a rise in gross profit under new CEO Paul McDade but a recent drop in oil prices means the company's bottom line remains under threat.

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Anger mounts in Nigeria over state of the economy

A vendor sells newspapers, including stories of Buhari's medical leave for ill health, Nigeria,May 8, 2017. Photo:Sunday Alamba/AP/SIPANigerians say they are 'fed up' with the current economic situation, even as the government makes efforts to pull Africa's biggest economy out of recession.

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Nigeria's presidency to sign 2017 budget into law next week

 Nigeria's President Muhammadu Buhari, left, and Vice President Yemi Osinbajo, right, at the presidential palace in Abuja, Nigeria,March 13, 2017. Photo: Sunday Aghaeze/AP/SIPANigeria's presidency is expected to sign the 2017 budget into law next week, the speaker of the lower chamber of parliament said on Friday, in an effort to pull Africa's biggest economy out of its first recession in 25 years.

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