First Independent Mena Newspaper
The European Union has committed 24.4 million Euros to fight against the illicit trafficking in small arms and light weapons (SALW) and strengthen cross-border cooperation in West Africa, as announced during a recent roundtable on this pressing issue held in Abuja, Nigeria. Held under the theme of “Mapping the Landscape of SALW Proliferation in Nigeria: […]
Nigeria’s Supreme Court Thursday (26 October) confirmed President Bola Tinubu as the winner of February’s presidential election, rejecting an opposition’s appeal that challenged a prior verdict — and ending months of legal battles over the presidential race. The seven-member court dismissed the opposition’s appeal that cited flaws in the voting system, fraud and electoral law […]
Nigeria no longer has to pay a multibillion-dollar fine over a failed gas project agreement with Process & Industrial Developments Ltd (P&ID), after a London High Court has ruled in favor of Abuja and its appeal over damages, thus bringing an end to the $11 billion lawsuit filed by P&ID against the federal government. An […]
Kenyan and Nigerian currencies have both hit all-time lows in the past few days, worsening the economic situation in the two heavily indebted African countries plagued by high inflation and ongoing dollar shortages. Kenyan currency hit all-time low of 150 shillings to the US dollar on Monday (23 October), while the Nigerian naira has faced […]
Lagos State Governor on Wednesday (18 October) initiated the commencement of an ambitious $100 million Lagos Film City project, which aspires to transform the landscape of Nigeria’s entertainment industry. Presiding over the groundbreaking ceremony for the Film City, Governor Babajide Sanwo-Olu said the proposed project would amplify the voices of the country’s diverse communities and […]
Some 130 leaders from Africa and other world’s regions have gathered in China for a two-day meeting organized by the Chinese government that marks the 10th anniversary of its Belt and Road Initiative (BRI). The summit that kicked off on Tuesday (17 October) is the third BRI Forum for international cooperation. Launched a decade ago, […]
Currency crisis in Nigeria deepens as its currency, the Naira, has dropped to ₦1,040 per dollar, which comes as a national industrial association has warned that soaring inflation is a threat to the country’s economy. In the parallel market, Nigeria’s currency has dropped to N1,040 per US dollar as supply surpassed demand, which was due […]
French troops will begin withdrawing from Niger “this week”, Paris announced on Thursday (5 October), while Nigeria’s top diplomat has said that a military intervention by the West African regional bloc ECOWAS was “still on the table”. “We will begin our disengagement operation this week, in good order, safely and in coordination with the Nigerians,” […]
Economic growth in Sub-Saharan Africa is expected to decelerate this year by slumps in economic powerhouses South Africa, Nigeria and Angola, the World Bank has announced, expressing fears of a lost decade for the continent, faced with growing instability. For the current year, growth should reach 2.5%, compared with 3.6% last year, due in particular […]
The African Continental Free Trade Area (AfCFTA) has potential to increase cross-border remittances by migrants, according to a new report by World Bank, even as international markets remain the largest sources. The AfCFTA has the potential to make cross-border transactions such as remittance transfers by migrants within Africa cheaper through the Pan-African Payment and Settlement […]