Video - President Bola Tinubu raises alarm over increasing numbers of coups

Nigerian presidential spokesperson Ajuri Ngelale said President Tinubu continues to work with other African heads of state on how to handle the crisis in Gabon. Tinubu wants a united front against the growing threat of what he calls "contagious autocracy”. The governments of Sudan, Chad, Mali, Burkina Faso, Guinea, Niger, and now, Gabon are all under military rule.

CGTN

Nigeria plans to set up solid minerals corporation

Nigeria plans to set up the Nigerian Solid Minerals Corporation, a state-backed company to help attract investments into the extraction of gold, coal, iron-ore, bitumen, lead, limestone and baryte, a minister said on Sunday.

"The proposed corporation will seek and secure partnership investment agreements with big multinational companies worldwide to leverage on the attractive investment-friendly regime operating in the country to secure massive foreign direct investment for the mining sector," Solid Minerals Minister Dele Alake said in a statement.

Nigeria wants mining to play a much bigger role in its economy by expanding its mineral extraction sector to diversify away from an overreliance on oil exploration.

Alake did not give a timeframe for when the new company would be set up. Existing enterprises - the National Iron-Ore Company and the Bitumen Concessioning Programme - will be reviewed to fit into the new company while a mines police force will be active from October to detect illegal mining, he said.

President Bola Tinubu has embarked on the country's boldest reforms in decades to try to improve Nigeria's investment climate and draw foreign investors to Africa's biggest economy.

Tinubu inherited a struggling economy with record debt, shortages of foreign exchange and fuel, a weak naira currency, inflation at a near two-decade high, skeletal power supplies and falling oil production due to years of underinvestment, crude-oil theft and pipeline vandalism.

His administration has said it will seek to promote investments rather than rely on borrowing to create jobs.

Tinubu plans to attend the forthcoming G20 summit to promote foreign investment in Nigeria and mobilize global capital to develop infrastructure.

The new corporation will engage local financial institutions, which have shied away from the mining sector in the past due to a long gestation period for projects, to promote investment, Alake said.

By Camillus Eboh, Reuters

Nigeria considering G20 bloc membership

Nigeria is considering applying to become a member of the G20 bloc of major economies after concluding consultations on the risks and benefits, the president's spokesperson said on Sunday.

President Bola Tinubu will leave on Monday to attend the G20 summit in India at the invitation of Prime Minister Narendra Modi, spokesperson Ajuri Ngelale said.

South Africa is the only African member of the group of the world's 20 most industrialised nations.

"While Nigeria's membership of the G-20 is desirable, the government has embarked on wide-ranging consultations with a view to ascertaining the benefits and risks of membership," Ngelale said in a statement.

Tinubu's attendance was in part to further Nigeria's membership objective, he said.

On Friday, Ngelale said Tinubu will attend the G20 summit to try to promote foreign investment in Nigeria and mobilize global capital to develop infrastructure.

Nigeria's new government wants to encourage investments rather than rely on borrowing to create jobs as it tries to revive an economy struggling with record debt, a weak currency, double-digit inflation and skeletal power supplies.

Tinubu has embarked on the boldest reforms in decades, which have been welcomed by investors. However, they have brought additional hardship to Nigerians already dealing with a cost of living crisis.

Tinubu will attend the summit with some of his cabinet members including foreign affairs, finance and trade ministers.

By Felix Onuah, Reuters

Video - Transport sector declines by more than 50 percent in Nigeria

Segun Sopita, the principal partner at Woodridge & Scott Consulting, said the removal of the fuel subsidy by the Nigerian government has had a sharp impact on the transport and logistics sector. Nigeria’s transportation sector accounts for 0.89 percent of the West African nation’s GDP.

CGTN

President Tinubu Suggests 9-Month Transition for Niger Junta

Nigerian President Bola Tinubu on Thursday floated the idea of a transition back to democracy in neighboring Niger similar to the nine-month period his country underwent in the late 1990s.

The Economic Community of West African States has imposed sanctions on Niger after troops ousted President Mohamed Bazoum in a coup on July 26 and the bloc threatened military intervention as a last resort if talks fail to restore civilian rule.

In a statement Thursday, the bloc insisted it wanted Bazoum back in power right away.

"The military authorities in Niger must restore constitutional order immediately by liberating and reinstating ... President Mohamed Bazoum," it said.

Niger's new military leaders have dug in, saying they want a maximum three-year transition period to restore constitutional order and have ordered police to expel France's envoy as tensions build with a key partner in Niger's anti-jihadist fight.

Late Thursday, Niger's interior ministry announced it was stopping U.N. agencies, NGOs and international organizations from working in military "operation zones."

It did not specify which regions were affected, but said the measures were "due to the current security situation."

"All activities and or movements in the zones of operations are temporarily suspended," it said.

Transition period

Tinubu said Nigeria returned to civilian rule in 1999 after a nine-month transition period instituted by former military head of state General Abdulsalami Abubakar, who has also headed delegations to meet the Niger junta.

"The president sees no reason why such cannot be replicated in Niger, if Niger's military authorities are sincere," the Nigerian presidency said in a statement.

Algeria, Niger's influential northern neighbor, has met with West Africa leaders in a bid to avoid any military intervention in Niger and has proposed a six-month transition.

But Tinubu's statement said there would be no relief from sanctions imposed by ECOWAS, of which he serves as chair, until the regime made "positive adjustments."

"The soldiers' action is unacceptable. The earlier they make positive adjustments, the quicker we will dial back the sanctions to alleviate the sufferings we are seeing in Niger," it said.

The overthrow of Niger's government has triggered concern around West Africa where Mali, Guinea and Burkina Faso have all been taken over by the military since 2020.

Fears of contagion have deepened with this week's military rebellion in Gabon to overthrow President Ali Bongo, toppled moments after being declared winner of a highly disputed weekend election.

Diplomatic battle

Niger's new military rulers have also been engaged in a political battle with Paris, and stripped France's ambassador of diplomatic immunity and ordered police to expel him, according to a letter seen Thursday by AFP.

The envoy "no longer enjoys the privileges and immunities attached to his status as member of the diplomatic personnel in the French Embassy," according to their letter, dated Tuesday, to the foreign ministry in Paris.

Relations with France spiraled downwards after the July coup when Paris stood by Bazoum and refused to recognise Niger's new rulers.

Last Friday, the authorities gave French envoy Sylvain Itte 48 hours to leave the country.

France refused the demand, saying the military rulers had no legal right to make such an order.

French military spokesperson Colonel Pierre Gaudilliere on Thursday warned that "the French military forces are ready to respond to any upturn in tension that could harm French diplomatic and military premises in Niger."

France has around 1,500 troops in Niger, many of them stationed at an airbase near the capital, to help fight a jihadist insurgency in Niger.

On Aug. 3, Niger's new rulers denounced military agreements with France, a move that the government in Paris has also ignored on the grounds of legitimacy.

An organization set up after the coup named the Patriotic Front for Niger Sovereignty (FPS) has led public demands for the coup leaders to take a hard line.

It is calling for a "massive" march next Saturday on the French base, followed by a sit-in until the troops leave.

Dispatch of troops

A landlocked former French colony in the heart of the Sahel, Niger is battling two jihadist insurgencies -- a spill over in southeastern Niger from a long-running conflict in neighboring Nigeria, and an offensive in the southwest by militants crossing from Mali and Burkina Faso.

Bazoum came to office in 2021 after democratic elections -- a watershed in a country that had had no peaceful transition of power since independence from France in 1960.

He suffered two attempted coups before finally being toppled by members of his own guard.

ECOWAS responded by warning it could intervene militarily to restore civilian rule if efforts to end the crisis diplomatically fail.

Swift to support their military comrades in Niger, Mali and Burkina have said that any such operation would be deemed a "declaration of war" against them.

Burkina Faso has approved a draft law authorizing the dispatch of troops to Niger, according to a government statement in Ouagadougou on Thursday.

VOA