Oil closes below $50 a barrel for first time in a year

Ghana and Cote d'Ivoire plan to raise the price farmers get paid for cocoa by about 21 per cent. Both countries account for over 60 per cent of the global production of the cocoa bean. Chike Nwagwu, CEO of Novus Agro, joins CNBC Africa’s Esther Awoniyi for more.

Here are a few reasons to pick up a copy of The Guardian on Thursday. Find these stories and much more when you grab a copy of The Guardian on Thursday.⁣⁣

The food index rose to 15.18% compared to 15.04% recorded in May 2020 while core inflation, which excludes the prices of volatile agricultural produce that stood at 10.13% in June 2020 compared to 10.12% recorded in May 2020. If prices continue to sow, it will continue to have a devastating effect on the poor households by making it difficult to afford food.

Nigeria is officially in recession for the first time in more than a decade, bringing an end to three years of low but positive growth. The African country's economy relies heavily on oil exports, but the coronavirus pandemic has slashed global demand and the price of oil has plunged. That's bad news for a country whose budget plans relied on getting a certain price per barrel, a price that now means Nigeria is selling crude at a loss. Our correspondent Moïse Gomes reports from Lagos.

Here are a few reasons to pick up a copy of The Guardian on Wednesday⁣⁣. Find these stories and much more when you grab a copy of The Guardian on Wednesday.⁣⁣ ⁣

Nigerians express fears of a bleak Christmas as food prices rise

Nigerian bakers say prices of their products will soon be increased by 30 per cent following the rise in the prices of flour.

The price of oil has hit its highest level in three years after the oil cartel OPEC and its allies called off planned talks on Monday over changes to global supplies. Russia and Saudi Arabia had been pushing to increase production after last year's supply cuts, but the United Arab Emirates disagreed. News that the virtual meeting had been abandoned sent oil prices higher in early trading on Tuesday. Also today, we look at how a shortage of rental cars is impacting holidaymakers in France.

Food prices in Nigeria are rising at the fastest pace in 15 years as the COVID-19 pandemic wreaks havoc in Africa's biggest economy.

Vaccines from both drugmakers have been approved in the EU for children from 12 to 17 years of age. Elsewhere, Australia continues its battle against the delta variant. Follow DW for the latest.

People who fled their homes and farms due to an ongoing Islamist insurgency in northeast Nigeria are struggling to access food due to soaring inflation.

Hundreds of union members in Quito, Ecuador, hit the streets to protest against an increase in fuel prices.