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Nigeria plans to renovate refineries, cut fuel imports

Nigeria’s state-oil firm NNPC plans to revamp its refineries to help Africa’s biggest crude oil producer to save billions of dollars on fuel imports. Despite controlling the world’s 10th-largest oil reserves, Nigeria has only four aging, inefficient state-owned refineries, leaving it almost wholly reliant on imports for its fuel needs. Italy’s Maire Tecnimont won a […]

Burkina Faso: Rabat calls on all parties to show restraint

The Moroccan government has expressed its deep concern over the situation in Burkina Faso and urged all parties to show restraint to avoid turmoil and instability in this West African country. In a statement issued Monday by foreign ministry, Rabat called on all stakeholders in Burkina Faso to give priority to the supreme national interest […]

Despite its mineral wealth, Africa accounts for only 2.4% of global GDP — ECOWAS

Africa accounts for only 2.4% of global Gross Domestic Products (GDP), although the continent has approximately 30% of the earth’s remaining mineral resources, Economic Community of West African States (ECOWAS) revealed last week. Despite Africa’s disproportionately low share of the global GDP, the continent has the largest reserves of precious metals with over 40% of […]