Via: Aljazeera
The United Nations mission in Libya has express deep concern over efforts to disrupt oil production in the war-torn country and urged all sides to exercise restraint.”This move would have devastating consequences first and foremost for the Libyan people who depend on the free flow of oil for their well-being,” the mission said in a statement on Saturday, the eve of a highly-anticipated summit in Germany aimed at relaunching peace efforts.
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Via: Aljazeera
The irrigation ministers of Egypt, Ethiopia and Sudan have met in Cairo for a new round of talks aimed at resolving a dispute over a multibillion-dollar dam being built by the Ethiopian government. The two-day meeting, which got under way on Monday in the Egyptian capital, comes almost a month after the three sides agreed to work towards resolving the issue at a US-brokered meeting in Washington, DC. Addis Ababa contends the project, dubbed the Grand Ethiopian Renaissance Dam (GERD), is crucial to its economic development and, at its peak, will generate more than 6,000 megawatts of electricity.
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Via: Al Jazeera
The growth projection to the nigerian economy slowed down in face of the declining oil outputs. The situation is alarming because oil revenues represent more than 90% of nigerian foreign exchange. Muhammadu Buhari, reelected president, has promised to diversify the economy, however the results are not clear. After averaging more than 7% in the first 14 years of this century, annual growth in Nigeria’s economy, which vies with South Africa as the coninent’s largest, hasn’t manahed to top 3% for the past four years.
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