The week ahead - Fault lines
Nigeria and its neighbours face various challenges, including oil spills, terrorism, and regional shifts, amidst changes in Ghana's banking leadership and Sahelian states' affiliations.
This week’s developments exposed the fault lines across Nigeria and its neighbours. As Nigerians relied less on cash, a court reaffirmed a terrorist group’s designation, while another oil spill hit the Niger Delta amid regulatory threats to defaulting oil producers. Meanwhile, a founding member of the ruling party will soon find out that not every public outburst goes unpunished. In neighbouring Ghana, the apex bank prepares for new leadership while some Sahelian states bid farewell to a spineless regional bloc.
Chart of the week
Developing stories:
The DRC - Hundreds of women were raped and burned alive in Goma during a mass jailbreak after the M23 entered the city. The incident is part of broader chaos and devastation in Goma, with 2,000 bodies awaiting burial. The M23 has since announced a unilateral ceasefire, but the UN urges continued pressure on Rwanda to prevent further violence.
Nigeria - Suspended Sokoto Resident Electoral Commissioner Nura Ali allegedly received a $150,000 bribe to manipulate the 2023 elections. President Bola Tinubu requested his removal, and the Senate approved it with a two-thirds majority vote, along with two other suspended electoral commissioners.
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Malnutrition is a severe issue in Nigeria, affecting children's intellectual and emotional growth. The statistics are alarming: - 2,400 children die daily due to malnutrition (UNICEF).
100 children under five die every hour.
Malnourished children complete five fewer years of schooling.
People who experience hunger as children earn 10% less and are 33% less likely to escape poverty.
The crisis is exacerbated by:
Rising food prices (19.6% increase in meal preparation costs).
Poor food quality (imported "milk" products with high sugar and fat content).
Inefficient and corrupt school feeding programmes.
The long-term consequences of inaction will be devastating, perpetuating poverty and inequality. Nigeria cannot afford not to tackle malnutrition.
What we are watching:
ECOWAS has officially confirmed that Mali, Burkina Faso, and Niger have withdrawn from the regional bloc but still grants six months' grace.
Reports claim that Nigeria's ruling party plans to suspend and possibly expel a powerful former state governor due to his criticism of the party.
The Abuja Court of Appeal affirmed the 2018 ruling designating IPOB as a terrorist organisation, stating the Nigerian government acted lawfully in proscribing the group.
Nigeria's oil regulator will deny export permits to non-compliant producers, while Dangote Refinery has lowered its petrol price from ₦950 to ₦890 per litre due to favourable global market conditions.
Shell reported an oil spill in Ogale, in the Niger Delta, due to a pit overflow. The spill was contained, and a joint investigation will determine its cause and impact.
Nigeria's electronic payment transactions hit ₦1.07 quadrillion ($702.6 billion) in 2024, up 79.6% from 2023, with active bank accounts rising to 311.6 million.
President Mahama nominated Dr Johnson Asiamah, a former Second Deputy Governor, as the next Bank of Ghana Governor. If approved, Asiamah will focus on sustainable development, price stability, and financial sector reforms.