Nigeria to export more oil to Ghana, ease terms

Nigeria will increase crude oil shipments to Ghana to up to 65,000 barrels per day from up to 45,000 at the moment and ease terms of credit to help support the Ghanaian economy, an official in Ghana said on Friday.

Ghanaian President John Atta Mills secured the deal at talks with Nigerian leader Umaru Yar'Adua in Abuja.

Ghana's government, which took office in January, is facing a cash crunch as a result of the global financial crisis and high spending by the previous government in 2008.

Mahama Ayariga, spokesperson for Mills, said 45,000 barrels of the Nigerian oil would go to the Tema oil refinery. The rest would go to the Volta River Authority for power generation.

Nigeria would also extend credit for 90 days instead of the current 30 days. Ghana, the world's second biggest cocoa grower, is itself due to become an oil producer by the end of next year.