Nigeria

Nathan Road trade corners market in mobiles for half a continent

Under the harsh glare of Chungking Mansions' fluorescent lights, Nigerian handset trader Kingsley Igbom is having a cash-flow problem.

Strikes in Venezuela and the prospect of war in Iraq make Opec's belated decision on production and quota levels look irrelevant. But the cartel's action provides an important boost to its credibility. Its members account for only one-third of global production, but they supply two-thirds of exports. Restoring confidence depends partly on Venezuela, Nigeria and Algeria, the most likely defaulters, sticking to the new limits.