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Nigeria: Questions Mount Over U.S. Airstrikes in Northern Nigeria$

By Leslie Varenne, MondAfrique: The American strikes carried out in Nigeria on Christmas Day raise serious questions. Beyond the confusion surrounding the objectives of the operation, inconsistencies in official statements, and the unclear nature of the targets, the...

Nigeria grapples with end of fuel subsidyF

By Alexandre Martins Lopes: Nigerians are struggling with surging fuel prices after newly elected President Bola Tinubu declared an end to popular subsidies, a move analysts and experts said was long overdue. On his first day in office, Tinubu kept to his campaign...

Nigeria’s Buhari signs record spending bill into law, despite weak economyF

Posted On 10 July 2020

Abuja, July 10, 2020 – Nigerian President Muhammadu Buhari on Friday signed into law a budget with record spending despite the risk of a slump in oil revenue. The 2020 budget of 10.81 trillion naira ($2 8.38 billion) was approved by parliament in June after Buhari called for a raise to the original request of 10.59 trillion naira. In a ceremony in the capital Abuja, Buhari said the increase of 216 billion naira was a “response to recent developments, in particular the COVID-19 pandemic.”

Nigeria, Africa’s biggest crude producer, relies on oil sales for 90 percent of foreign exchange earnings. Buhari noted that global crude prices had tumbled from a high of $72.20 per barrel in January to below $20 per barrel in April. They have since hovered around $40. The revised budget is based on assumptions of $28 per barrel as against $57 previously. Nigeria has also reduced its crude output in line with Organization of Petroleum Exporting Countries (OPEC) efforts to strengthen the oil market. “Global trade has generally been disrupted as almost all economies were locked down for protracted periods in the wake of the COVID-19 Pandemic,” Buhari said.

But he added that the government was well-positioned to safeguard the economy, thanks to the revised budget and a N2.3-trillion stimulus programme. In February, credit rating agency Moody’s listed Nigeria “among countries (in West Africa) whose situation causes the most concern in terms of debt sustainability.” On April 28, the International Monetary Fund (IMF) approved $3.4 billion in emergency financing for Nigeria to help deal with the economic fallout of the pandemic.

AFP

Recent News from Nigeria

Nigeria Adjusts Airstrike Strategy Under Expanded U.S. Security Cooperation$

Nigeria is modifying how it conducts air operations against armed groups under a revised security arrangement with the United States. The new framework places greater emphasis on U.S. intelligence and reconnaissance support while shifting operational responsibility to Nigerian forces. The approach reflects Abuja’s effort to balance external assistance with domestic control amid ongoing security challenges in the country’s northwest.

Nigeria: Questions Mount Over U.S. Airstrikes in Northern Nigeria$

The U.S. airstrikes carried out in northern Nigeria on Christmas Day have triggered confusion and skepticism across the region. Conflicting statements from Washington and Abuja, uncertainty over the identity of the targeted groups, and reports from strike locations where no militants were found have raised serious questions about the operation’s objectives. In an already fragile security environment, the lack of clarity risks adding instability rather than addressing Nigeria’s complex security challenges.

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