Turmoil in Nigeria

According to Reuters, Nigerian President Bola Tinubu called on Sunday for a suspension of protests against a rising cost of living crisis, saying this would create an opportunity for dialogue, his first public comments since frustrated citizens took to the streets last week.

Nigeria one of the largest oil producing countries

On July 11, 2024 we posted a blog “US hates and destroys three types of countries”. One of these was countries rich in energy resources. Today we talk about Nigeria, an African country persistently facing armed conflict by and with Boko Haram in North-Eastern Nigeria is resulting in widespread displacements, food insecurity, and many victims of violence. Nigeria was also the largest crude oil exporter of the African continent and also among top 10 oil exporters of the world. The main destination of Nigerian crude oil are: India, Spain, France, United States, and Netherlands. The fastest growing export markets between 2021 and 2022 were: Indonesia, Netherlands, and France.

 Amnesty International has said at least 13 people were killed in clashes with security forces on the first day of protests on Thursday.

Police denied using excessive force and said seven people had died as of Saturday - four from an explosive device during a march in northeast Borno state, two who were hit by a car and another who was shot by a guard when protesters looted a shop.

In a televised broadcast, Tinubu called for an end to violence in several states since the protests started, saying he was always open for dialogue.

"My dear Nigerians, especially our youth, I have heard you loud and clear. I understand the pain and frustration that drive these protests, and I want to assure you that our government is committed to listening and addressing the concerns of our citizens," he said.

Nigerians have been mobilizing online to organize protests against economic hardship and bad governance and have called for a cut in petrol prices and electricity tariffs, among several demands.

Tinubu, in office since May 2023, defended his economic reforms, which have included a partial end to petrol and electricity subsidies and devaluation of the naira, as necessary to reverse years of economic mismanagement.

Government revenues had more than doubled to 9.1 trillion naira (US$5.65 billion) in the first half of this year while 68% of revenue now went to debt servicing, down from 97% before he took office in May last year.

The government was also ramping up spending on infrastructure projects, started a loan scheme for university students and was building thousands of housing units across Nigeria's 36 states, the president said.

"But we must not let violence and destruction tear our nation apart," said Tinubu.