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Nigeria oil output, Kenya subsidies, Zambia debt

The fall in Nigeria’s oil production in August to a 50-year low, coming alongside the recent drop back in oil prices, reinforces our downbeat view on the economy’s prospects. Elsewhere, Kenya’s President William Ruto was inaugurated this week and wasted little time in announcing that fuel subsidies will be slashed. That’s a positive step, but there’s still work to do to put the public finances on a stable footing.

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