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ECOWAS: As Benin, Burkina Faso, Mali’s Withdrawal Threatens Regional Economic Integration
The recent decision by Mali, Burkina Faso, and Niger to withdraw from the Economic Community of West African States (ECOWAS) presents significant challenges to regional integration. The departure of these countries from ECOWAS is expected to have wide-ranging consequences for regional stability, economic collaboration, and security.
ECOWAS has been actively pursuing various economic integration initiatives aimed at improving living standards and fostering economic development across member states. These efforts include establishing a free trade area and implementing a common external tariff to reduce trade barriers within the region. Additionally, ECOWAS seeks to create an integrated region characterized by free movement of people, efficient education and healthcare systems, and robust economic and commercial activities.
To realize these objectives, ECOWAS has been engaged in coordinated economic activities spanning industry, transportation, telecommunications, energy, agriculture, natural resources, commerce, monetary and financial policies, as well as social and cultural matters. Furthermore, the bloc has endeavored to harmonize macroeconomic policies and promote private sector participation to advance its economic integration agenda, including the proposed adoption of a common currency.
Stakeholders have emphasized the urgent need for a peaceful resolution to the current political impasse, given its potential impact on counterterrorism efforts and regional security. Dialogue has been advocated as the preferred approach for resolving disputes among West African member states, underscoring the importance of diplomatic solutions to address emerging challenges within the region.
Dangote Refinery has announced that it will need to export 95-97 percent of its Premium Motor Spirit (petrol) due to low interest from Nigerian marketers. The refinery, which processes 650,000 barrels per day, revealed that only 3 to 5 percent of petrol marketers are purchasing its fuel.
Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, shared these details during an X Space session hosted by Nairametrics on Wednesday. He highlighted the challenges facing both the Dangote Refinery and Nigeria’s oil and gas sector.
Edwin explained, “I’m selling 2 to 3 percent to small traders who are willing to buy, while the remaining 95 to 97 percent has to be exported,” referring to the local sales of the refinery’s products.
This situation arises as the NNPCL’s deadline for adjusting the Dangote Refinery’s fuel distribution approaches without a clear plan in sight. It is worth noting that while Aliko Dangote, President of Dangote Group, has announced the refinery’s initial petrol rollout, its distribution to marketers is contingent upon NNPCL’s decisions.
The final sixteen teams for the 2024 FIFA U-20 Women’s World Cup in Colombia have been determined following the conclusion of the group stage.
In recent matches, Ghana triumphed over New Zealand with a score of 3-1, and Japan secured a 2-0 victory against Austria.
As a result, Japan has advanced to the Round of 16, joining the other 15 teams in this knockout stage.
The Round of 16 matches are scheduled for Wednesday, Thursday, and Friday.
The full lineup for the Round of 16 is as follows:
- Spain vs Canada
- Brazil vs Cameroon
- Colombia vs South Korea
- Mexico vs USA
- North Korea vs Austria
- Germany vs Argentina
- Netherlands vs France
- Japan vs Nigeria
The Nigerian Army has refuted claims of widespread resignations among its soldiers due to issues like corruption and low morale.
In a statement, Major General Onyema Nwachukwu, Director of Army Public Relations, dismissed these reports as unfounded.
A news outlet had alleged that numerous Nigerian soldiers were resigning because of corruption and low morale. However, the statement condemned these allegations as misleading and a deliberate attempt to create discontent and undermine the Nigerian Army’s reputation and the dedication of its personnel.
Major General Nwachukwu clarified that, similar to other military organizations worldwide, service in the Nigerian Army is voluntary rather than mandatory. This means that personnel have the freedom to resign following established procedures.
He explained that the resignation process allows personnel to prepare and manage their entitlements, including pensions and gratuities, as outlined in the Harmonized Terms and Conditions of Service (Officers/Soldiers).
Contrary to the report’s implications, the statement emphasized that Nigerian Army personnel are highly motivated, and their welfare is a priority under the leadership of Chief of Army Staff, Lieutenant General Taoreed Lagbaja.
We’ll be forced to export 97% of our petrol – Dangote Refinery warns
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