Economic development: Côte d’Ivoire seeks $500 million package from the OPEC Fund

Author: Salimata BANCEPublished on: October 19, 2026Country: Côte d’Ivoire

Business & Economy

Economic development: Côte d’Ivoire seeks $500 million package from the OPEC Fund

Côte d’Ivoire could receive $500 million, equivalent to about 297 billion CFA francs, from the OPEC Fund for International Development between 2026 and 2029, with grants of up to $3 million potentially added. An agreement framework was signed in Bangkok on October 16, 2026, by Fund President Abdulhamid Alkhalifa and Ivorian Minister of Planning and Development Souleymane Diarrassouba. The financing would support priorities in the 2026–2030 National Development Plan, including climate-resilient infrastructure and economic transformation. The Fund plans to provide public- and private-sector loans, grants, and technical assistance to help attract further investment.

Stay informed with NewsBoulevard

Get the latest news summaries delivered to your inbox

Related News

House of Representatives backs Tinubu, Dangote and NMDPRA, calls for pipeline funding

Business & EconomyPoliticsNigeria

Gift ChapiOdekina•3h ago

House of Representatives backs Tinubu, Dangote and NMDPRA, calls for pipeline funding

The House of Representatives’ Petroleum Resources (Downstream) Committee expressed confidence in President Bola Ahmed Tinubu, the NMDPRA and industrialist Aliko Dangote, saying Nigeria is moving toward energy security. Figures presented in Abuja showed that domestic refineries now supply more than 75% of the country’s petrol, with no supply shortfalls and over 25 days of national sufficiency. Committee chairman Ikenga Imo Ugochinyere called for increased funding for pipeline surveillance, enforcement of domestic crude supply obligations and legislation to protect local refineries from disruptions. The committee also voiced confidence in a target of three million barrels of oil per day and said strategic reserves are planned to rise to 90 days in 2027.

N4,000 per Dollar Exchange Rate: NDC Asks Why Refineries Are Not Working

PoliticsBusiness & EconomyNigeria

Henry Umoru•4h ago

N4,000 per Dollar Exchange Rate: NDC Asks Why Refineries Are Not Working

The Nigeria Democratic Congress (NDC) challenged Finance Minister Taiwo Oyedele’s warning that restoring the petrol subsidy could weaken the naira to as much as 4,000 per dollar. Through its National Publicity Secretary, Osa Director, the party asked why Nigeria’s refineries are not operating and why a sizeable share of crude oil was mortgaged to secure foreign loans. It said the arrangement had hindered crude supplies to the Dangote Refinery and argued that fixing domestic refining and alleged subsidy-related criminality would make the warning unnecessary. Oyedele gave his warning at the IMF and World Bank Annual Meetings in Bangkok, citing risks to investment and the naira.

NewsBoulevard

Business & EconomyNigeria

Chioma Obinna•4h ago

At 50, Maltina’s Brand Refresh Raises Questions About Heritage and Consumer Loyalty

Maltina has unveiled a refreshed visual identity and redesigned glass bottles, cans and PET bottles for its 50th anniversary, adding stronger gold elements and a brighter orange scheme. Nigerian Breweries says the drink’s familiar taste and nutritional composition are unchanged; a 33cl bottle provides the equivalent of half a glass of milk, and the brand is endorsed by the Nutrition Society of Nigeria. Sarah Agha, Nigerian Breweries’ marketing director, said the update aims to connect with contemporary consumers while preserving the brand’s heritage, dating back to 1976 in Nigeria. The refresh’s success will depend on consumer response and Maltina’s ability to remain relevant amid intensifying competition.

Stay Updated with NewsBoulevard

Subscribe to our newsletter for the latest news summaries delivered to your inbox