OPEC agreed to extend production cuts by nine months after several members endorsed the move aimed at supporting oil prices amid a weakening global economy. The deal will take effect once non-OPEC allies give their approval at a meeting scheduled to hold today. Oyeyemi Oke, Oil and Gas Lawyer and Partner at A02 Law joins CNBC Africa to discuss this and other stories impacting the global oil market.
Governor of Nigeria's Central Bank says the apex banks development finance efforts have been driven by the need to reduce reliance on crude as smuggling and dumping over the years have led to a demise of Agriculture. Obiora Madu, CEO of Multimix Group joins CNBC Africa to discuss some developments impacting Nigeria's non-oil exports.
A consortium of seven lenders signed an agreement to refinance Neconde Energy's Senior Secured Medium-term loan facility agreement worth $640 million following the 20-year renewal of the Oil Mining License pf the company. Ifeanyi Ezuka, Technical Director of Neconde Energy joins CNBC Africa for more.
Nigeria’s Department of Petroleum Resources has revoked a total of six oil licenses over what the regulator described as a “legacy debts”. Meanwhile, U.S President Donald Trump says he could raise an additional $300 billion tariff on China if necessary. Uchenna Minnis, Chief Market Analyst at Eagle Global Markets joins CNBC Africa for more.