Suffering from rampant inflation, stalled investment and mass layoffs, Nigeria is still gripped by one of the worst economic crises in its history. But for the first time in months, the West African economic giant is finally looking to exit its first recession in decades. On Thursday, parliament approved the government’s ambitious seven-trillion-naira ($23-billion) budget … Read more
Ivory Coast’s cocoa regulator pointed to speculators and prospects for a glut as the reason for a slump in futures that forced the nation to cut the price it pays farmers. There was something it didn’t blame: Itself. Le Conseil du Cafe-Cacao also said a volatile pound and defaults by local exporters contributed to a … Read more
Mexico has identified a potential weapon in its trade wrangle with US President Donald Trump: lucrative yellow cobs of American corn. The Latin American nation imports billions of dollars’ worth of the yellow grain from the United States to feed its livestock. But with Trump pushing to shake up the countries’ trade ties, Mexico is … Read more
After more than six months marked plunging revenue caused by attacks on oil pipelines in the Niger Delta and ballooning inflation, the Federal Government said on Wednesday said it was expecting a better second half of the year. The government’s optimism is in spite of a forecast by the International Monetary Fund that the country’s … Read more
Lagos (AFP) – After two bruising quarters marked by attacks on oil pipelines in the Niger delta and ballooning inflation, Nigeria is expected on Wednesday to announce it is officially in recession. The news shouldn’t come as a surprise. Sales of oil at a high price had made Nigeria the biggest economy in Africa. But … Read more