On Saturday, June 29, voters in Mauritania went to the polls to elect their new leader, with 1.9 million Mauritanians registered to cast their ballots. Seven candidates are vying for the top office, including incumbent president Mohamed Ould Ghazouani, who is seeking re-election. Other prominent candidates include Hamadi Sidi Mokhtar Mohamed Abdi, the leader of the first opposition party in parliament, and Biram Dah Abeid, a well-known anti-discrimination activist. The election is significant, as it comes at a time when Mauritania is facing several challenges, including high youth unemployment, a growing terrorist threat in neighboring countries that is fueling displacement…
Author: Oyewole Oluwafemi
The International Monetary Fund (IMF) has praised Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), for bringing an end to a period of economic instability in the country. The ZiG, which was introduced in April 2024, has helped to stabilize the economy and curb inflation, according to a recent report by the IMF. Prior to the introduction of the ZiG, Zimbabwe had been using the Zimbabwe dollar, which had lost significant value due to hyperinflation. This had led to a sharp rise in prices, particularly in the first three months of 2024. However, since the introduction of the ZiG, the economy…
The recent confession of Senator Olalere Oyewumi, a member of the Peoples Democratic Party (PDP), has sparked outrage among Nigerians. In a viral video, Oyewumi, who represents Osun West District and serves as the Deputy Minority Senate Leader, admitted to buying votes during the 2023 General Election. Oyewumi revealed that he had sent his aide to buy votes with his personal money on the eve of the election, but was rejected by strong supporters of the All Progressives Congress (APC). He expressed surprise at the rejection, stating that he had exhausted his funds on the election and was desperate to…
In a recent interview on Channels Television’s Politics Today, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, offered a candid assessment of Nigeria’s economic situation. He acknowledged that the country is currently poor, but emphasized that it has the potential to become wealthy. Oyedele’s remarks were accompanied by a call to action, as he urged policymakers to implement meaningful tax reforms to address the country’s revenue challenges. Oyedele’s comparison of Nigeria’s budget to that of other countries and cities provided a stark reminder of the country’s economic disparities. He noted that the combined federal and…
President Bola Tinubu signed an executive order eliminating tariffs, excise duties, and value-added tax (VAT) on pharmaceutical inputs brought into the country, primarily aiming to revitalize the Nigerian healthcare sector and increase the production of healthcare products. The order is expected to reduce production costs, enhance local manufacturers’ competitiveness, and encourage medical industrialization. The Coordinating Minister of Health and Social Welfare, Muhammad Ali Pate revealed in a statement on Friday that the executive order aims to revitalize the Nigerian health sector and boost the local production of healthcare products. The minister said the executive order is crucial in the implementation…
Angolan President João Lourenço arrived in Abidjan, Côte d’Ivoire on Wednesday for an official visit, at the invitation of President Alassane Ouattara. On Thursday, the two leaders met at the Presidential Palace, where they discussed ways to boost bilateral cooperation between their nations. President Lourenço was received with military honors upon his arrival at the palace, followed by a private meeting with President Ouattara. The two leaders are expected to witness the signing of several instruments aimed at establishing a new framework for mutual cooperation. As part of the visit, President Lourenço will be honored with the title of honorary…
President Emmerson Mnangagwa of Zimbabwe has expressed concern over the recent electoral setbacks faced by former liberation movements in the Southern African Development Community (SADC) region. Specifically, he noted the African National Congress (ANC) of South Africa’s loss of its parliamentary majority in the recent elections. Addressing the Zanu-PF central committee, Mnangagwa emphasized the need for solidarity among former liberation movements in the face of perceived attacks. He warned against destabilization efforts within Zimbabwe, pledging to maintain security and peace in the country. The President’s comments come at a time when the ANC, a longtime ally of Zanu-PF, has been…
BudgIT, a leading civic-tech organization, has expressed strong disapproval of the Nigerian government’s plan to implement four national budgets simultaneously. This move, according to Gabriel Okeowo, BudgIT’s Country Director, will lead to severe budget credibility issues and negatively impact service delivery in critical social sectors. The Senate’s recent decision to extend the capital section of the 2023 supplementary budget, which will run concurrently with the 2024 national budget, has raised concerns. The implication of this decision is that Nigeria is currently operating three budgets: the 2023 budget of N21.83 trillion signed by former President Muhammadu Buhari, the N2.17 trillion 2023…
The Reserve Bank of Zimbabwe (RBZ) has projected a slower economic growth rate of 2% for 2024, down from the government’s initial forecast of 3.5%. Despite a lower inflation outlook and market calls for a rate cut, the central bank has decided to maintain interest rates at 20%. According to RBZ Governor John Mushayavanhu, the economy has remained “resilient” despite the severe drought caused by El Niño. While the government initially forecast a 3.5% growth, Finance Minister Mthuli Ncube hinted at a possible revision due to the drought’s severe impact. The African Development Bank also adjusted its growth forecast for…
Defense chiefs from West Africa proposed a plan to deploy a 5,000-strong standby force to tackle the region’s escalating security challenges. The proposal, presented in Abuja, Nigeria, comes with an annual price tag of $2.6 billion. The initiative aims to prevent further military coups that have recently rocked several West African nations. Nigeria’s Defense Minister, Mohammed Badaru, emphasized the need for the standby force to prevent military takeovers that have destabilized the region. Thursday’s meeting marked a significant step forward, as the bloc publicly detailed the financing for its long-discussed standby force. However, analysts have highlighted potential hurdles, including securing…