Browsing: Olusegun Obasanjo

At his inauguration, Nigeria’s new president, Bola Ahmed Tinubu, announced that his administration would do away with the fuel subsidy. The announcement resulted in a spark in prices and long queues in Nigeria as people rushed to buy fuel before the price increase when the policy took effect on July 1.

When the policy to remove Nigeria’s fuel subsidy takes effect, fuel prices in Nigeria are expected to jump from the official pump price of $0.4 to between $0.76 and $1.18. According to the United Nations, Nigeria’s rise in fuel prices will have widespread economic ramifications for over 133 million citizens plagued by multidimensional poverty.…

Ramaphosa added that Africa is now taking concrete steps to write its own economic success story and the Intra-African Trade Fair is part of that story.
With Africa opening up new fields of opportunity, Ramaphosa said that seeing more of ‘made in Africa labels’ is critical if the continent is to change the distorted trade relationship that exists between African countries and the rest of the world.
He emphasised that the situation where Africa keeps exporting raw materials while importing finished goods from those materials is no longer tenable. By promoting trade in Africa, he said, “we strengthen our own industrial base and produce goods for ourselves and for each other”.…