- Nigeria's Acting President, Goodluck Jonathan, has announced the country's budget of over US$ 30 billion, which will increase spending by almost 50 percent. But the spending depends on peace in the Niger Delta.
Mr Jonathan's government approves the budget with an envisaged deficit of over 20 percent pinning their hopes that the truce in the oil producing Niger Delta will hold and Nigeria could stabilise its production.
He hoped that the country would be able to maintain a production of 2.35 million barrels of crude per day, further hoping that the oil price would not go below the average of US$ 67 per barrel.
Acting President Jonathan has also said the Nigerian government would increase expenditure on the country's economic sectors that will bear fruit and lift the country out of its economic woes.
The Niger Delta militants were offered a truce deal by the ailing President Umaru Yar'Adua, last year, who has not be seen in public since checking into a clinic in Saudi Arabia and is now back in the country, reportedly still under intensive care. Many of the groups have since laid down their arms following several exchanges and amnesties.
Nigeria, which is rich in oil and natural gas resources, has not been able to realise its full production capacity due to militants' attacks and abductions in the Niger Delta.
Oil infrastructure and foreign workers had been under constant threat from militant groups claiming to fight for a fair share of the oil wealth for local inhabitants, as well as rogue groups seeking ransoms for self-enrichment.
The West African economic giant was overtaken by a new entrant, Angola, in recent months, as Africa's top oil producer.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.