Why is Nigeria ill prepared for a low-carbon future?
Like many petrostates, Nigeria, Africa’s biggest oil exporter, is aware that demand for petroleum may one-day fall victim to solar panels, electric vehicles, more frugal consumption, among others. But the question is how seriously do the authorities take the threat? A business a.m. investigation reveals that the country’s leaders still dismiss the risk that demand will […]
OPEC member Angola looks beyond oil, diversifies into gold to expand economy
Africa’s second-biggest oil exporter, Angola, is set to expand its commodity mix into gold, Diamantino Azevedo, the country’s oil and mineral resources minister told Reuters on Tuesday. The minister who does not expect OPEC to impose deeper cuts to its member states this year, said Angola hopes to start producing small quantities of the precious metal next […]
Ghana proposes $13.9bn (N4.2trn) budget in 2018 with deficit of 4.5% of GDP
The Ghanaian government has proposed to spend $13.9 billion (62 billion Ghana cedis) about N4.2 trillion in its 2018 fiscal year, Kenneth Ofori-Atta, the country’s finance minister said Wednesday. The budget themed “Putting Ghana Back to Work”, according to Ofori-Atta, would continue and expand programmes that began in 2017 and initiate new strategic programmes in […]