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May 21, 2013
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News in 'Economy' section
The International Monetary Fund (IMF) says Nigeria needs to reduce spending to avoid putting pressure on the crude oil benchmark of US$75 per barrel.
The Nigerian House of Representative wants the fuel price pegged at US$80 per barrel.
The 7th West African Power Pool (WAPP) General Assembly begins Thursday in Abuja, Nigeria with the production of reliable electricity for national development topping the agenda.
Delegates from the 21 member power utilities across West Africa, investors, industrialists, financial experts, technocrats and international and financial donor institutions are attending the weeklong forum.
By William Selmah
A lawmaker in Liberia has called for the withdrawal of one of President Ellen Johnson-Sirleaf’s sons from all public positions he currently occupies for violating the laws governing Liberian citizenship.
Mr. Robert Sirleaf is currently Chairman of the National Oil Company of Liberia and Advisor to the President.
A government that wants its economic policies to be taken seriously has to show it is in control when violence erupts, says Senegalese economics professor Felwine Sarr.
But it seems that Professor Sarr's advice could be directed at President Macky Sall, who announced a cabinet reshuffle Monday that was dwarfed in the media by recent looting and chaos in Dakar.
Amidst scandals over billions of dollars lost to oil theft in Nigeria, the presidency has distanced the Goodluck Jonathan administration from the award of “any discretionary oil blocks” since its incumbency.
The clarification comes hard on the heels of an alleged leakage of a report by the Petroleum Special Task Force headed by the former head of the anti-graft agency, EFCC, Nuhu Ribadu,
The Central Bank of Guinea has issued a statement to allay rumors that the 10,000 Guinean Franc banknote is invalid, two months before the replacement deadline expires.
Commercial entities and individuals in Guinea have in recent times stopped accepting the 10,000 GF bill, fearing the banknote has no value.
Liberia has joined the West African Power Pool Project aimed at helping improve the electricity access of countries in Western African countries.
The project is a cooperation of national electricity companies in West Africa under the patronage of the Economic Community of West African States (ECOWAS).
The 323 million Euros project is financed by the World Bank.
Made-in-Ghana products are on exhibit in Liberia hosted by the Ghana Export Promotion Authority (GEPA) in partnership with the Ghana Embassy near the Liberian capital, Monrovia and the Association of Ghana Industries (AGI).
The items on display include garments, beads, assorted drinks, foot wears, metal products, roofing materials and other handicrafts and manufactured goods.
A new World Bank report says Africa’s farmers can potentially grow enough food to feed the continent and avert future food crises if countries remove cross-border restrictions on food trade within the region.
The continent would also generate an extra US$20 billion in yearly earnings if African leaders can agree to dismantle trade barriers that blunt more regional dynamism.
A new report by the World Bank and International Finance Corporation says 17 sub-Saharan countries are among the 50 economies making the biggest improvement in business regulation for domestic firms.
The improvement has been going on since 2005.