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February 25, 2024 ECOWAS Gives Reasons for Lifting Ban on B/Faso, Mali & Niger

ECOWAS Gives Reasons for Lifting Ban on B/Faso, Mali & Niger

The Economic Community of West African State​s (ECOWAS) says the decision to lift sanctions on Mali, Niger, and Burkina Faso was based on the need to maintain regional unity and security.

D​r Omar Touray, President of the ECOWAS Commission said this at the end of the extraordinary session of the Heads of State and Government of ECOWAS on Saturday in Abuja.

He said that the authority took note of the period of Lent and the approaching month of Ramadan and the impact on citizens, adding that pleas were also received from prominent leaders including retired Gen. Yakubu Gowon.

The authority takes note that the withdrawal will have political, social, socio economic, financial and institutional implications for the three countries as well as for ECOWAS as a region.

The authority recalls that within the framework of regional cooperation against terrorism, violent extremism and organised crime, the three countries benefited from about 100 million US dollars mobilised by UMR within the context of ECOWAS plan of action against terrorism.

Moreover, some funds allocation, about 7.5 million U.S. dollars is being made towards supporting the three countries in acquiring the equipment to help their fight against terrorism.

”The withdrawal will affect security cooperation in terms of sharing intelligence and participation in regional counterterrorism initiatives.

”Such as the Accra initiative, and the Multinational Joint Task Force,’‘ he said.

Touray added that the withdrawal of the countries from the sub-regional bloc would lead to diplomatic and political isolation at the international scene where the countries have obtained support for their candidates in the contest for international positions.

The authority recognises that the withdrawal will automatically affect the immigration status of the citizens, as they may be required to obtain visas to travel around the region.

Citizens may no longer be able to reside or set up businesses under ECOWAS arrangement and may be subject to diverse national laws.

Even though they represent 10% of the region’s GDP, their departure will constitute a reduction of the market size of ECOWAS.

He said that the sanctions were lifted to promote trade and benefits derived from​several regional projects and programmes including the Regional Food Security Reserve.

The regional support programme for powerful pastoralism in the Sahel, which is being funded by the World Bank to the tune of 215 million US dollars is also a project that benefits the three countries.

The three countries also benefit from the Sahel regional irrigation support programme, which is being funded by the World Bank to the tune of 103 million US dollars.

The three regional food systems resilient support programme in the amount of 230 million, funded by the World Bank is also benefiting the three countries.

West African single identity and regional integration and inclusion project is another programme that the three countries benefit from.”

He said that other projects the countries benefits from are the ECOWAS regional electricity market, West African Power Pool project, which links member states to a regional electricity grid for improved access to electricity.

He said not lifting the sanction would result in the halt or the suspension of all ECOWAS projects and programmes worth more than 500 million US dollars.

February 25, 2024 80% of Nigeria’s Crude is Stolen – Obasanjo

80% of Nigeria’s Crude is Stolen – Obasanjo

Former President Olusegun Obasanjo says over 80 per cent of Nigeria’s crude oil were stolen annually.

Obasanjo stated this in Abuja at the launching of a book writer by Dr. Umar Ardo titled, ‘Court and Politics,’.

According to the former president, one of the reasons why Nigeria’s economy is in ruins is that while other oil-producing countries have records of their oil production, Nigeria cannot account for hers due to theft.

Obasanjo, who was represented by a former governor of Niger State, Babangida Aliyu, said crude oil theft is one of reasons the Nigerian economy would be in ruins.

The former president said “while the crude oil quota is about two million barrels per day, over 1.7 million are stolen”

February 22, 2024 LAGOS LABOUR PARTY (LP) CANDIDATE DUMPS PARTY

LAGOS LABOUR PARTY (LP) CANDIDATE DUMPS PARTY

On Thursday, Islamiyat Oyefusi, the deputy governorship candidate for the Labour Party in Lagos State, officially tendered her resignation from the party. This decision comes in the aftermath of the 2023 governorship election in which she contested alongside Gbadebo Rhodes-Vivour but was unsuccessful, as the incumbent governor, Babajide Sanwo-Olu, emerged victorious.

Oyefusi conveyed her decision to resign through a letter dated February 22, 2024, addressed to the party chairman in Isele 1 ward, Ikorodu area of Lagos State. In the letter, which our correspondent obtained a copy of, Oyefusi cited a misalignment of values as the primary reason for her departure, stating that she could no longer identify with the current values of the Labour Party.

The resignation letter read, “I can no longer see myself aligning with the current values of the Labour Party or as a member of the Labour Party, and the time has come for me to move forward. This letter is to hereby officially notify you of my resignation from the Labour Party.”

Reflecting on her political journey over the past 10 months, Oyefusi expressed gratitude to God for her well-being and thanked her team and supporters across Lagos State and Nigeria for their unwavering dedication during the challenging 2023 electioneering period. She acknowledged the accomplishments achieved during this time and extended appreciation to the ObiDatti family and NCF for their substantial support.

It is noteworthy that Islamiyat Oyefusi had previously contested as the 2019 Lagos East senatorial aspirant for the Peoples Democratic Party and had resigned from that party in 2022.

February 19, 2024 Protest In Ibadan Over High Cost of Living

Protest In Ibadan Over High Cost of Living

Protest has broken out in Ibadan, the Oyo State Capital over the high cost of living, food inflation and the current economic hardship being experienced in the country.

Staged in the Mokola area of the state capital, placard-carrying youths in their droves chanted songs to drive home their points.

Some of the placards have inscriptions such as ‘End food hike and inflation’, ‘The poor is starving’, ‘Tinubu, don’t forget your promises’, amongst others.

Armed policemen were seen at the protest scene even as demonstrators held the peaceful rally against the economic hardship in the land occasioned by the removal of petrol subsidy and the unification of the foreign exchange windows.

The police had on Sunday warned that no breach of peace would be allowed during any protest in the state.

The protest in Oyo followed others in Kano, Minna, amongst others, over economic hardship occasioned by petrol subsidy removal, food inflation, and high cost of living.

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