ECOWAS Slams Fresh Sanctions On Niger As Junta Rejects Diplomatic Overtures.
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The Economic Community of West Africa States (ECOWAS) has imposed fresh sanctions over the coup in Niger Republic.
President Bola Tinubu who leads the regional body announced this through his spokesman, Ajuri Ngelale, Tuesday.
Nigeria had, Wednesday, disconnected the supply of 150 megawatts of electricity daily to Niger Republic as part of the ECOWAS’ efforts to restore democracy there.
The ECOWAS had earlier given Nigerien military leaders seven days to reinstate President Mohamed Bazoum or risk sanctions, including possible military action.
Aso Villa visit: Okonjo-Iweala discusses WTO plans to support Nigerians, women
The Director General of the World Trade Organization, Dr Ngozi Okonjo-Iweala, says the World Trade Organisation (WTO) will intensify working with women and Nigerians to support and alleviate the impact of the current economic downturn.
Dr Okonjo-Iweala revealed during a press conference in Abuja on Tuesday after she visited with President Bola Tinubu, that her productive discussion with Tinubu aimed to reduce the economic hardship bedeviling Nigerians.
Speaking with journalists after the meeting, Okonjo-Iweala stressed that her “quiet visit”, which was not an official WTO mission, focused on how to support Nigerians at such a time of need.
JUST IN: Resident doctors suspend protest
The Nigerian Association of Resident Doctors (NARD) has suspended its planned protest and picketing of the Federal Ministry of Health, Office of the Head of Civil Service of the Federation as well as all Federal and State tertiary health institutions nationwide.
The decision was taken after a long meeting with the Federal Government, which lasted into Tuesday night.
After meeting with the Executive arm of the Government, which was represented by the Special Adviser to the President on Health Dr Salma Anas, among other government officials and the leadership of the National Assembly, the National Executive Council (NEC) of NARD decided to shelve their planned protest with the view of reviewing progress made towards their demands in 72 hours.
Niger: ECOWAS plans fresh sanctions on Burkina Faso, Mali, UN talks fail
The Economic Community of West African States has imposed heavier financial sanctions on the Niger junta and entities supporting them including the governments of Mali and Burkina Faso.
The development came after a diplomatic mission by the African Union, ECOWAS, United Nations and the United States to resolve the political impasse in Niger hit a brick wall on Tuesday as the military junta refused to grant audience to the delegations.
The military leaders also snubbed the Acting US Deputy Secretary of State, Victoria Nuland, and denied her access to the coup leader, Gen. Abdourahmane Tchiani and ousted President, Muhammed Bazoum, who was being held in the presidential palace.
FG’s reliance on borrowings must end — Tinubu
President Bola Tinubu yesterday vowed to end Nigeria’s over-reliance on borrowing to finance public spending. He made the vow at the inauguration of the presidential committee on fiscal policy and tax reforms.
Public debt growth
Nigeria’s total public debt rose sharply by 501 per cent in the nation’s total debt in eight years to N72.55 trillion in March 2023, from N12.06 trillion in March 2015, a development driven by increased borrowing, worsened by the global pandemic and economic recessions in 2016 and 2022.
Data from the Debt Management Service, DMO, shows that the N75 trillion total public debt comprises N19.64 trillion of foreign debt, N30.21 trillion of domestic debt and N22.7 trillion of Ways and Means lending to the Federal Government by the Central Bank of Nigeria, CBN.
Conclusion
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