The West African bloc Ecowas said that all options are on the table as far as Niger is concerned while ordering the activation of a standy force for the coup hit state.

West African bloc Ecowas activates standby force for Niger

The closure of the border between Nigeria’s northern corridor and the Niger Republic has put $1.3 billion worth of trade at risk along the trans-Saharan road. The economic activities along the trade route are under threat after president Bola Tinubu shut the borders with the Niger Republic.

Niger coup: Nigeria's $1.3 bn trade at risk, suffers economic blow | WION Dispatch

After ignoring the Ecowas deadline to reinstate the President, the Junta has now appointed the former finance minister as the new Prime Minister in Niger. What happens next? What implications will this have for the wider region? David Otto, director of Geneva Centre for Africa security and strategic studies, joins us to discuss.

Junta appoints new Prime Minister in Niger | WION Live Discussion

Nigerian President Bola Tinubu has made a series of announcements to ease the cost of living crisis that is gripping the West African nation due to an array of reason. Tinubu announced measures to tackle the soaring cost of living crisis.

Niger: Junta rejects Ecowas demands, closes airspace | World News | WION

<p>Nigerian President Bola Tinubu wrote a letter to the country's Senate, on Friday, seeking support from its members for military intervention in neighbouring Niger, following a military coup against President Mohamed Bazoum.</p>

<p>Tinubu requested for “military buildup and deployment of personnel for military intervention to enforce compliance of the military junta in Niger should they remain recalcitrant”, as per The Cable reports.</p>

<p>West African military chiefs have acquiesced on&nbsp;a plan for a possible intervention in Niger as a deadline for the country's junta to restore civilian rule approaches, an official from regional bloc the Economic Community of West African States (ECOWAS) said Friday.</p>

<p>On Sunday, ECOWAS&nbsp;gave the junta, that toppled the democratically elected government of President Mohamed Bazoum in a military coup, a week to either restore him or face the potential use of force.</p>

<p>ECOWAS military chiefs were meeting in Nigeria's capital Abuja to discuss ways to respond to the crisis.</p>

<p>"All the elements that will go into any eventual intervention have been worked out, including the resources needed, and including the how and when we are going deploy the force," said ECOWAS commissioner Abdel-Fatau Musah.</p>

<p><strong>Also read: </strong><a href="https://www.wionews.com/world/ethiopia-declares-state-of-emergency-after-clashes-in-amhara-region-622397">Ethiopia declares state of emergency after clashes in Amhara region</a></p>

<p>"We want diplomacy to work, and we want this message clearly transmitted to them that we are giving them every opportunity to reverse what they have done," he added.</p>

<p>Niger's junta has promised to reply "immediately" to any foreign intervention and has been holding Bazoum and his family in his official residence in the capital Niamey for nine days.</p>

<h2><strong>Military intervention in Niger will be 'declaration of war' against us, say Mali and Burkina Faso</strong></h2>

<p>Neighbouring countries of Niger, Mali and Burkina Faso, in a joint statement, said that any military intervention in Niger to restore deposed President Mohamed Bazoum would be considered a "declaration of war" against their countries too.&nbsp;</p>

<p>"Any military intervention against Niger would be tantamount to a declaration of war against Burkina Faso and Mali," the two countries warned in a joint statement. It comes after West African leaders threatened to use "force" in order to reinstate Bazoum. The leaders have also spoken of possible sanctions on the putschists.</p>

<p>Mali and Burkina Faso said the "disastrous consequences of a military intervention in Niger... could destabilise the entire region".</p>

<p>The two refused to apply the "illegal, illegitimate and inhumane sanctions against the people and authorities of Niger".</p>

<p><em>(With inputs from agencies)</em></p>

<p>&nbsp;</p>

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Nigerian President Bola Tinubu wrote a letter to the country's Senate, on Friday, seeking support from its members for military intervention in neighbouring Niger, following a military coup against President Mohamed Bazoum.

Nigerian President Bola Tinubu wrote a letter to the country's Senate, on Friday, seeking support from its members for military intervention in neighbouring Niger, following a military coup against President Mohamed Bazoum. Tinubu requested for “military buildup and deployment of personnel for military intervention to enforce compliance of the military junta in Niger should they remain recalcitrant”, as per The Cable reports. West African military chiefs have acquiesced on a plan for a possible intervention in Niger as a deadline for the country's junta to restore civilian rule approaches, an official from regional bloc the Economic Community of West African States (ECOWAS) said Friday. On Sunday, ECOWAS gave the junta, that toppled the democratically elected government of President Mohamed Bazoum in a military coup, a week to either restore him or face the potential use of force. ECOWAS military chiefs were meeting in Nigeria's capital Abuja to discuss ways to respond to the crisis. "All the elements that will go into any eventual intervention have been worked out, including the resources needed, and including the how and when we are going deploy the force," said ECOWAS commissioner Abdel-Fatau Musah. Also read: Ethiopia declares state of emergency after clashes in Amhara region "We want diplomacy to work, and we want this message clearly transmitted to them that we are giving them every opportunity to reverse what they have done," he added. Niger's junta has promised to reply "immediately" to any foreign intervention and has been holding Bazoum and his family in his official residence in the capital Niamey for nine days. Military intervention in Niger will be 'declaration of war' against us, say Mali and Burkina Faso Neighbouring countries of Niger, Mali and Burkina Faso, in a joint statement, said that any military intervention in Niger to restore deposed President Mohamed Bazoum would be considered a "declaration of war" against their countries too. "Any military intervention against Niger would be tantamount to a declaration of war against Burkina Faso and Mali," the two countries warned in a joint statement. It comes after West African leaders threatened to use "force" in order to reinstate Bazoum. The leaders have also spoken of possible sanctions on the putschists. Mali and Burkina Faso said the "disastrous consequences of a military intervention in Niger... could destabilise the entire region". The two refused to apply the "illegal, illegitimate and inhumane sanctions against the people and authorities of Niger". (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Niger coup: Nigerian President Bola Tinubu writes to Senate seeking support for military intervention

<p>Nigeria’s newly elected President Bola Tinubu has wasted no time in implementing a series of much-needed reforms aimed at realising the potential of Africa's largest economy, after a decade-long swing between slowdown and inflation.&nbsp;</p>

<h2><strong>Nigeria economic reforms: What do Tinubu’s reforms entail?</strong></h2>

<p>The reforms have been cited as bold and comprehensive.&nbsp;</p>

<p>They include the elimination of a costly fuel subsidy, the replacement of the country's central bank governor, and the initiation of a deep overhaul of Nigeria's power industry described as chronically inadequate in recent memory.</p>

<h2><strong>Nigeria economic reforms: What do they mean?</strong></h2>

<p>The measures have garnered a positive response, with Nigeria's dollar bonds experiencing a rally and stocks reaching a 15-year high as per a Bloomberg report. The economic reforms have been reported as Nigeria’s shift towards economic orthodoxy – unconventional leadership decisions taken with an aim towards overall betterment of the economy in the face of scarcity.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/nigerians-have-chosen-well-president-muhammudu-buhari-hails-successor-tinubu-597537">'Nigerians have chosen well': President Muhammudu Buhari hails successor Tinubu</a></strong></p>

<p>While there remains skepticism on overall implementation of the reforms given the country's tumultuous history of leaders failing to scale through the initial economic optimism, investors view these policy changes as the beginning of a broader economic transformation.&nbsp;</p>

<p>The shift also aligns Nigeria with other countries like Turkey and Colombia, where similar policy changes have generated market enthusiasm after authorities signaled a departure from investor-unfriendly economic practices.</p>

<p>In a Bloomberg report, Amaka Anku, Africa director at Eurasia Group, commended the swift implementation of challenging reforms during the initial period of Tinubu's presidency.</p>

<p>This demonstrates determination and creates momentum and goodwill, which in turn boosts both domestic and international confidence and encourages investment, he noted.</p>

<h2><strong>Nigeria economic reforms: Ordinary Nigerians face burden</strong></h2>

<p>Meanwhile, the negative effects of these adjustments are primarily affecting the currency and the Nigerian population itself. The currency naira has significantly depreciated against the dollar since Tinubu assumed office, while the price of petrol has tripled.&nbsp;</p>

<p>This combination is expected to burden ordinary Nigerians, who are already grappling with widespread unemployment and soaring inflation.</p>

<p>Consumer inflation rate could&nbsp;climb as high as 29.8 per cent in June, from 22.4 per cent in May, as rising gasoline prices lift the cost of food and transport, according to Rand Merchant Bank analysts cited in Bloomberg.&nbsp;</p>

<p>This could force the central bank to raise its policy rate to 22 per cent in the second half, from 18.5 per cent, they said.</p>

<h2><strong>Nigeria economic reforms: Stocks rise after firing of&nbsp;central bank governor</strong></h2>

<p>Nigerian stocks and Eurobonds have continued to rise since the ousting of Godwin Emefiele, the former head of the Central Bank of Nigeria, on June 9.&nbsp;</p>

<p>Investors interpret his dismissal, along with his subsequent arrest, as an indication that President Tinubu will adopt a more market-friendly approach compared to his predecessor, Muhammadu Buhari.&nbsp;</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/explained-the-political-life-of-president-muhammadu-buhari-who-bid-farewell-to-nigeria-597476">Explained: The political life of outgoing Nigerian President Muhammadu Buhari</a></strong></p>

<p>Buhari's multiple exchange rate regime, which hindered the economy, was largely attributed to Emefiele, making him unpopular among the new president's allies.</p>

<p>Gordon Bowers, an analyst at Columbia Threadneedle Investments, described that the removal of the fuel subsidy and foreign exchange reforms will positively impact Nigeria's fiscal and external accounts, reducing long-standing distortions.&nbsp;</p>

<p>These reforms were considered essential minimum requirements, allowing Tinubu to shift his focus to growth-oriented and productivity-enhancing reforms that can substantially raise Nigeria's potential growth rate.</p>

<h2><strong>Nigeria economic reforms: Where would the currency settle?</strong></h2>

<p>The ultimate settling price for the naira under the new administration remains uncertain. But a pre-election report from a Tinubu advisory committee suggested a target range of 550-600 naira per dollar, with commercial banks acting as primary dealers through a willing-buyer-willing-seller model.</p>

<p>Experts anticipate further depreciation of the currency before it stabilises at a significantly weaker level.</p>

<p><strong>Also watch |&nbsp;Nigeria's Naira hits record low</strong></p>

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<p>JPMorgan analysts cited by Bloomberg previously indicated that the exchange rate should be adjusted to approximately 700-750 naira per dollar.</p>

<p>Despite concerns about the government's ability to maintain momentum, markets have responded positively to Tinubu's ambitious policy shift.&nbsp;</p>

<p>Tinubu is currently working alongside his chief of staff, advisers, an interim central bank chief, and a trusted informal team, having not yet appointed ministers.</p>

<h2><strong>Nigeria economic reforms: What else is on cards?</strong></h2>

<p>In addition to the aforementioned reforms, Tinubu's team is advocating for significant changes in Nigeria's oil and gas sector, aiming to reduce the role of the state energy company, which had expanded under Tinubu’s predecessor.&nbsp;</p>

<p>Last week, Nigeria’s national assembly passed legislation that’s expected to set off the biggest shakeup of the West African nation’s chronically inadequate power industry in almost two decades.</p>

<p>Further reforms will be necessary to get Nigeria’s economy back on track, experts say.&nbsp;</p>

<p>According to Amaka Anku, Africa director at Eurasia Group, the Tinubu administration will have to "focus on the harder, more long-term stuff, especially boosting revenue generation."&nbsp;</p>

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Nigeria’s newly elected President Bola Tinubu has wasted no time in implementing a series of much-needed reforms aimed at realising the potential of Africa's largest economy, after a decade-long swing between slowdown and inflation.

Nigeria’s newly elected President Bola Tinubu has wasted no time in implementing a series of much-needed reforms aimed at realising the potential of Africa's largest economy, after a decade-long swing between slowdown and inflation. Nigeria economic reforms: What do Tinubu’s reforms entail? The reforms have been cited as bold and comprehensive. They include the elimination of a costly fuel subsidy, the replacement of the country's central bank governor, and the initiation of a deep overhaul of Nigeria's power industry described as chronically inadequate in recent memory. Nigeria economic reforms: What do they mean? The measures have garnered a positive response, with Nigeria's dollar bonds experiencing a rally and stocks reaching a 15-year high as per a Bloomberg report. The economic reforms have been reported as Nigeria’s shift towards economic orthodoxy – unconventional leadership decisions taken with an aim towards overall betterment of the economy in the face of scarcity. Also read | 'Nigerians have chosen well': President Muhammudu Buhari hails successor Tinubu While there remains skepticism on overall implementation of the reforms given the country's tumultuous history of leaders failing to scale through the initial economic optimism, investors view these policy changes as the beginning of a broader economic transformation. The shift also aligns Nigeria with other countries like Turkey and Colombia, where similar policy changes have generated market enthusiasm after authorities signaled a departure from investor-unfriendly economic practices. In a Bloomberg report, Amaka Anku, Africa director at Eurasia Group, commended the swift implementation of challenging reforms during the initial period of Tinubu's presidency. This demonstrates determination and creates momentum and goodwill, which in turn boosts both domestic and international confidence and encourages investment, he noted. Nigeria economic reforms: Ordinary Nigerians face burden Meanwhile, the negative effects of these adjustments are primarily affecting the currency and the Nigerian population itself. The currency naira has significantly depreciated against the dollar since Tinubu assumed office, while the price of petrol has tripled. This combination is expected to burden ordinary Nigerians, who are already grappling with widespread unemployment and soaring inflation. Consumer inflation rate could climb as high as 29.8 per cent in June, from 22.4 per cent in May, as rising gasoline prices lift the cost of food and transport, according to Rand Merchant Bank analysts cited in Bloomberg. This could force the central bank to raise its policy rate to 22 per cent in the second half, from 18.5 per cent, they said. Nigeria economic reforms: Stocks rise after firing of central bank governor Nigerian stocks and Eurobonds have continued to rise since the ousting of Godwin Emefiele, the former head of the Central Bank of Nigeria, on June 9. Investors interpret his dismissal, along with his subsequent arrest, as an indication that President Tinubu will adopt a more market-friendly approach compared to his predecessor, Muhammadu Buhari. Also read | Explained: The political life of outgoing Nigerian President Muhammadu Buhari Buhari's multiple exchange rate regime, which hindered the economy, was largely attributed to Emefiele, making him unpopular among the new president's allies. Gordon Bowers, an analyst at Columbia Threadneedle Investments, described that the removal of the fuel subsidy and foreign exchange reforms will positively impact Nigeria's fiscal and external accounts, reducing long-standing distortions. These reforms were considered essential minimum requirements, allowing Tinubu to shift his focus to growth-oriented and productivity-enhancing reforms that can substantially raise Nigeria's potential growth rate. Nigeria economic reforms: Where would the currency settle? The ultimate settling price for the naira under the new administration remains uncertain. But a pre-election report from a Tinubu advisory committee suggested a target range of 550-600 naira per dollar, with commercial banks acting as primary dealers through a willing-buyer-willing-seller model. Experts anticipate further depreciation of the currency before it stabilises at a significantly weaker level. Also watch | Nigeria's Naira hits record low × JPMorgan analysts cited by Bloomberg previously indicated that the exchange rate should be adjusted to approximately 700-750 naira per dollar. Despite concerns about the government's ability to maintain momentum, markets have responded positively to Tinubu's ambitious policy shift. Tinubu is currently working alongside his chief of staff, advisers, an interim central bank chief, and a trusted informal team, having not yet appointed ministers. Nigeria economic reforms: What else is on cards? In addition to the aforementioned reforms, Tinubu's team is advocating for significant changes in Nigeria's oil and gas sector, aiming to reduce the role of the state energy company, which had expanded under Tinubu’s predecessor. Last week, Nigeria’s national assembly passed legislation that’s expected to set off the biggest shakeup of the West African nation’s chronically inadequate power industry in almost two decades. Further reforms will be necessary to get Nigeria’s economy back on track, experts say. According to Amaka Anku, Africa director at Eurasia Group, the Tinubu administration will have to "focus on the harder, more long-term stuff, especially boosting revenue generation." WATCH WION LIVE HERE

Explained | Why Nigeria's economic reforms under President Tinubu are creating a buzz

Nigeria has sworn in a new president, Bola Tinubu, but the leader has a myriad of challenges ahead of him as fuel prices nearly triple in the country.

Nigeria welcomes new president | World of Africa

The day of Bola Tinubu's inauguration as Nigeria's 16th democratically elected president, Monday, May 29, has been designated a national holiday by the government of Nigeria. After being sworn in on May 29, Tinubu will succeed current President Muhammadu Buhari.

Bola Tinubu to be sworn-in as Nigeria's President, world leaders to attend the ceremony

<p>Ruling party candidate Bola Tinubu has been declared the president-elect by Nigeria's electoral commission following a disputed weekend election. The ceremony was not attended by the two main opposition parties who demanded the vote be scrapped.</p>

<p>Tinubu later&nbsp;stood up for the integrity of the national election and called on citizens to unite around him. Opposition parties have called the election "flawed".</p>

<p>The Independent National Electoral Commission (INEC) said that All Progressives Congress (APC) party candidate Tinubu won 8.79 million votes. Opposition Peoples Democratic Party (PDP) candidate Atiku Abubakar garnered 6.9 million votes, while Labour Party's Peter Obi won 6.1 million votes.&nbsp;</p>

<p>"I am very happy I have been elected the president of the federal republic of Nigeria," Tinubu said to cheers in Abuja. "This is a serious mandate. I hereby accept it."</p>

<p>The electoral process in the country encountered problems since new technology was being used in the elections. However, there were issues with the functioning of the system and Nigeria's notoriously inadequate communications network could not handle it.</p>

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<p>&nbsp;</p>

<p>The&nbsp;INEC had earlier said that the results from each polling unit will be uploaded to its website in real time. However, the entire thing faced several hurdles and many units were unable to do so immediately, leading to distrust in the process.</p>

<p>Thousands of results have still to be uploaded.</p>

<p>The failings in the system have led the main opposition parties of Atiku and Obi to reject the results as fraudulent.</p>

<p>"I commend INEC for running a credible election no matter what anybody says," Tinubu said. "The lapses that were reported, they were relatively few in number and were immaterial to affect the final outcome of the election."</p>

<p>Tinubu's victory extends the ruling All Progressives Congress (APC) party's grip on power in Africa's most populous nation, which is also Africa's top oil producer.</p>

<p>According to Nigerian electoral law, a candidate simply needs more votes than their rivals to win, provided they get 25 per cent of the vote in at least two-thirds of the 36 states and the federal capital Abuja.</p>

<p><em>(With inputs from agencies)</em></p>

<p>&nbsp;</p>

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Ruling party candidate Bola Tinubu has been declared the president-elect by Nigeria's electoral commission following a disputed weekend election. The ceremony was not attended by the two main opposition parties who demanded the vote be scrapped.

Ruling party candidate Bola Tinubu has been declared the president-elect by Nigeria's electoral commission following a disputed weekend election. The ceremony was not attended by the two main opposition parties who demanded the vote be scrapped. Tinubu later stood up for the integrity of the national election and called on citizens to unite around him. Opposition parties have called the election "flawed". The Independent National Electoral Commission (INEC) said that All Progressives Congress (APC) party candidate Tinubu won 8.79 million votes. Opposition Peoples Democratic Party (PDP) candidate Atiku Abubakar garnered 6.9 million votes, while Labour Party's Peter Obi won 6.1 million votes. "I am very happy I have been elected the president of the federal republic of Nigeria," Tinubu said to cheers in Abuja. "This is a serious mandate. I hereby accept it." The electoral process in the country encountered problems since new technology was being used in the elections. However, there were issues with the functioning of the system and Nigeria's notoriously inadequate communications network could not handle it. × The INEC had earlier said that the results from each polling unit will be uploaded to its website in real time. However, the entire thing faced several hurdles and many units were unable to do so immediately, leading to distrust in the process. Thousands of results have still to be uploaded. The failings in the system have led the main opposition parties of Atiku and Obi to reject the results as fraudulent. "I commend INEC for running a credible election no matter what anybody says," Tinubu said. "The lapses that were reported, they were relatively few in number and were immaterial to affect the final outcome of the election." Tinubu's victory extends the ruling All Progressives Congress (APC) party's grip on power in Africa's most populous nation, which is also Africa's top oil producer. According to Nigerian electoral law, a candidate simply needs more votes than their rivals to win, provided they get 25 per cent of the vote in at least two-thirds of the 36 states and the federal capital Abuja. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Nigeria elections: Ruling party's Bola Tinubu declared president-elect in spite of oppn uproar

Ruling party candidate Bola Tinubu has been declared the winner of Nigeria's disputed presidential election. The 70-year-old veteran politician got 36% of the vote, official results show.

Bola Tinubu wins Presidential elections of Nigeria

Nigeria's poll panel has started announcing state-by-state results from the presidential election. A historically tight poll has energised Africa's most populous nation. There have been reports of violence and intimidation, though not on the scale of previous elections. Votes for the presidency are being tallied by hand, and results are being uploaded online to the election commission's central database. According to initial tallies on Monday, Nigeria's ruling party candidate, Bola Tinubu has taken an early lead in the race for the presidency.

Ruling party candidate ahead in Nigeria election, opposition parties reject vote | Key details

Nigeria Presidential Elections 2023: Ruling party candidate takes early lead

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