Word: nigerias
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SITTING IN HIS OFFICE one afternoon last month, Nigerian President Shehu Shagari acted to make life miserable for millions living in his country. In an executive order as simple as it was brutal, Shagari gave all unskilled foreigners living illegally in Nigeria two weeks to leave. The declaration also applied to a few thousand teachers, and by late January, more than two million Ghanaians-- the largest group of illegal aliens in Nigeria--packed up and headed for the border...
...waiting game to see which one would be the first to slash prices. At a press conference, Yamani predicted that Britain, a non-OPEC producer, would take the lead within a few days by trimming $2 or $3 off its $33.50 charge for North Sea oil. He said that Nigeria, an OPEC member that has had particular trouble selling oil recently, might then feel forced to follow Britain's lead. If that happened, Yamani hinted, the Saudis might themselves shave a few dollars off their $34-per-bbl. price...
...Without advance warning, the Saudis had tossed on the bargaining table an additional demand that remained to be resolved on Monday morning. They would curb production, said Yamani, only if the African states would charge a premium price for their oil that fully reflected its higher-than-average quality. Nigeria, Algeria and Libya produce so-called sweet crude, which yields a particularly desirable mix of products after refining. Moreover, because these countries are relatively close geographically to their European customers, the cost of transporting the crude is lower. For these reasons, the OPEC members have tacitly agreed in the past...
Wale Okediran Lagos, Nigeria...
...conflict within the organization now threatens to tear it apart. One faction, led by Saudi Arabia, includes neighboring Persian Gulf producers like the United Arab Emirates, and does not want to lower its production further to let the other side raise its output. The opposing faction, which includes Iran, Nigeria and Indonesia, desperately needs income and is eager to pump every drop of oil that it can sell, even if that sends prices plummeting. Iran, which has become the spokesman for this group, is spurred by the need to finance its two-year-old war of attrition with Iraq...