The Nation Newspaper

Tag: Economic Community Of West African States

  • Gambians go to the poll to elect parliament

    Gambians were Thursday voting for a new parliament to further establish democracy in the West African nation after more than two decades of autocratic rule.

    During the poll, the country’s first election since autocrat Yahya Jammeh went into exile in January, 239 candidates from nine political parties were competing for 48 seats in the national assembly.

    Five additional seats would be appointed directly by President Adama Barrow, who took power on Jan. 19.

    Report says there is much hope in the nation of 1.8 million people that the legislative election will provide Gambia with a functional national assembly that will help amend the wrongs committed during Jammeh’s regime.

    “Jammeh, who ruled the Islamic Republic for 22 years with an iron fist, is widely accused of human rights violations, including torture and arbitrary arrests,’’ it noted.

    The autocrat caused weeks of political impasse by refusing to accept the result of the December 2016 presidential election, which saw him lose power to Barrow.

    After regional pressure and the threat of arrest by West African troops that had entered Gambia, Jammeh eventually conceded defeat and went into exile in Equatorial Guinea.

    Barrow promised to set up a truth and reconciliation commission to ensure justice and reparations for the victims of Jammeh’s government.

    The European Union has sent 50 election monitors to observe Thursday’s polls.

    In addition, 20 observers from the Economic Community of West African States and 30 observers from the African Union were monitoring the election.

    Polling stations are scheduled to close at 1600 GMT, while results are expected on Friday.

  • Accidental bombing: It was a tragic mistake- Air Chief

    Accidental bombing: It was a tragic mistake- Air Chief

    • as AirForce deploys 200 personnel to The Gambia
    The Chief of the Air Staff (CAS), Air Marshal Sadique Abubakar has described the bombing of a civilian settlement by an Air Force fighter jet as a tragic mistake.
    Air Marshal Abubakar spoke at the 117 Air Combat Training Group (ACTG), Kainji on Wednesday during the deployment of about 200 Air Force troops to The Gambia.
    He said the pilots got airborne to save lives but a mistake led to the “tragic loss of lives.”
    Abubakar said: “It was a very tragic thing yesterday (Tuesday), our pilots got airborne hoping to save lives but unfortunately there was a tragic mistake which lead to the loss of life of innocent people, we have been operating for eight years in the North East now we have flown close to 6000hrs, this is the first time we are having this tragedy.
    “This is very tragic and unfortunate incident, sometimes it does happen in war,  I want to say that we share in the pains and sorrows of the families that have lost loved ones, I want to sympathise with those that are wounded.
    “We have directed our Chief of medical services to provide medical facility in Maiduguri to the wounded so that they can also be treated there in addition to other medical facilities that is available in Maiduguri.”
    He assured that the Nigerian Air Force (NAF) will conduct a thorough investigation into the accident.
    “Also we are putting up a high-powered committee at the Air Force level, I know the theatre commander is also working hard to find out what really happened, the information we have are very sketchy, we don’t want to pre-empt the findings of this committee both at the headquarters level and the Committee that has been set up.
    “It is very tragic and unfortunate but I want to assure as a professional service we will continue to evaluate our procedures and processes so that we can be effective in dealing with those that are out to kill innocent people and not what really happened on Tuesday.
    The troops deployment to The Gambia was a mandate of the Economic Community of West African States (ECOWAS) to enforce the results of the December 1, 2016 presidential election in that country.
    The Air Force personnel were airlifted from Kainji to Dakar in Senegal. The troops which included the Special Forces, Combat Support Group, Technicians, Medical officials etc were airborne in the Hercules C-130 military transport plane.
    The CAS who addressed the troops urged them to keep Nigeria’s flag flying by being professional and to conduct themselves to the Air Force high standard.
    “They have been given the task which is very well defined, and we have put together all the air assets that we think are necessary to ensure that we are able to to successfully conduct this operation and that is what we have on the ground here,” Abubakar said.
    Among the platforms being deployed to the Gambia include: fighter airplanes, helicopters, C-130 and the large utility helicopter which also be useful in the conduct of the operation.
    “What we have here are men that are highly trained, highly skilled they know their job and they know their task, and as a professional service the commander of the air assets will work together with other commanders and they will come up with what is required in terms of plans, to be able to execute their tasks and come back home,” Abubakar said.
    Also, it was reliably gathered that the Nigerian Army is also set to deploy to the Gambia on Thursday. The Army troops will be airlifted by the C-130 transport plane. The Navy had on Monday deployed it’s newest battleship, NNS Unity to the tiny West African country.
  • Video: Jammeh begs ECOWAS leaders to allow court decide fate

    Video: Jammeh begs ECOWAS leaders to allow court decide fate

    President Yahya Jammeh of The Gambia, has released a recording of his telephone conversation with the Chairperson of the Economic Community of West African States, Liberian President Ellen Johnson Sirleaf over the election crisis in his country.

    In the video, Jammeh pleaded with Sirleaf to convince other West African leaders to allow hired Supreme Court judges to travel to Banjul to hear his petition challenging the outcome of the presidential election.

    Recall that ECOWAS had called on Yahya to hand over power to Barrow after he rejected the outcome of the election, warning that he won’t be recognised as President of the country from January 19, the date Barrow is supposed to be sworn in as President.

    The video is below:

  • Buhari seeks reduction in Nigeria, China’s high trade imbalance

    Buhari seeks reduction in Nigeria, China’s high trade imbalance

    President Muhammadu Buhari on Tuesday in Beijing called on the Nigerian and Chinese business communities to work harder to reduce the trade imbalance between both countries which is currently in China’s favour.

    He spoke at the opening of a Nigeria-China Business/Investment Forum in China.

    According to a statement by the Special Adviser on Media and Publicity, Femi Adesina, the President said that trade and economic relations between both countries must be mutually-beneficial and conducted with reciprocated respect and trust.

    He said: “Although the Nigerian and Chinese business communities have recorded tremendous successes in bilateral trade, there is a large trade imbalance in favour of China as Chinese exports represent some 80 per cent of the total bilateral trade volumes. This gap needs to be reduced.

    “Therefore, I would like to challenge the business communities in both countries to work together to reduce the trade imbalance.

    “You must also imbibe the spirit of having a mutually beneficial relationship in your business transactions. You must not see Nigeria as a consumer market alone, but as an investment destination where goods can be manufactured and consumed locally,” President Buhari told the gathering.

    He said that his administration was committed to supporting investors that were ready to establish manufacturing and processing facilities in Nigeria.

    He said: “Last year during our meeting in New York, President Xi Jinping and I agreed to explore ways of practical cooperation in trade, investment, finance, human resources, agriculture and fishing.

    “We also agreed to strengthen industrial capacity cooperation in the manufacture of cars, household appliances, construction materials, textiles, food processing, and others.

    “This is in line with our government’s focus on import substitution through the creation of a diversified and inclusive economy that will meet most of our consumption needs.

    “Already, our Federal Ministry of Industry, Trade and Investment is working on projects and programmes that will correct the wrongs of the past and enhance the ease of doing business in Nigeria.

    “The ministry’s efforts will be complemented by investment tax incentive programmes, public sector reform initiatives as well as our zero tolerance stance on corruption.

    “We also have an aggressive but realistic infrastructure development programme that forms the backbone of our economic diversification policy. We are embarking on major power, road, rail, seaport and airport development programmes that will enhance the competitiveness of manufacturing businesses in Nigeria.

    “The future is bright and I am very confident that our policies will make Nigeria the investment destination of your choice,” President Buhari told the Chinese investors.

    The President also assured them that his administration was doing everything possible to address concerns about security in Nigeria.

    He said that to consolidate on recent successes against Boko Haram, close to 20 per cent of the 2016-budgetted expenditure has been allocated  to the Ministries of Defence and Interior and as well as other security agencies.

    “We are committed to protecting all lives and property within our borders. You can therefore be rest assured that your investments in Nigeria will be safe and secure,” he said.

    Business and trade relations between Nigeria and China have grown astronomically in the last decade with bilateral trade volumes rising from USD2.8 billion in 2005 to USD14.9 billion in 2015.

    Nigeria accounted for 8.3 per cent of the total trade volume between China and Africa and 42 per cent of the total trade volume between China and the Economic Community of West African States (ECOWAS) countries in 2015.

  • Nigeria will continue to support ECOWAS – Buhari

    Nigeria will continue to support ECOWAS – Buhari

    President Muhammadu Buhari on Tuesday said Nigeria would continue to support the Economic Community of West African States (ECOWAS) to enable it to realise its noble objectives.

    The president gave the assurance when he received the outgoing President of the ECOWAS Commission, Amb. Kadre Desire Ouedraogo at the State House, Abuja.

    The President said the pursuit of the laudable goals of the regional economic bloc aimed at regional integration and peaceful co-existence that inspired its creation on May 28, 1975, would always remain a top priority for Nigeria.

    “Nigeria, by its size and resources, has no alternative than to back ECOWAS to the hilt.

    “We are part of ECOWAS. Indeed, we are at the very heart of it, so we will continue to play our role,’’ he added.

    Buhari said the gains recorded so far in collectively providing peace in the sub-region and curtailing health challenges were major achievements of ECOWAS that must be sustained.

    ‘‘Now, we have to get more reliable intelligence and support from the international community, and utilize the gains for the development of our countries”, he said.

    The President, who commended Ouedraogo for his diligence and visionary leadership, wished him well in his future engagements.

    Ouedraogo recounted some of his achievements over the four-year period of serving to include peace and stability in the region.

    He mentioned the resolution of crises in Mali, Guinea Bissau, Burkina Faso and the tackling of the Ebola scourge as some of his major achievements.

    ‘‘We signed trade agreements with China, U.S and Japan. The biometric identity card has been approved and is due for launch in 2016. A single currency by 2020 is on course.

    On behalf of all ECOWAS institutions, I express my sincere thanks to Nigeria for all her support,’’ he said.

  • REVEALED: Limitations of trade liberation scheme in Nigeria

    REVEALED: Limitations of trade liberation scheme in Nigeria


    [dropcap style="square" color="#017a25" bgcolor="#ededed" sradius="5" font="play"]The[/dropcap] Economic Trade Liberation Scheme (ETLS), a well-known path to economic prosperity for many countries, has been described to be marred by smuggling and evasion of duties, which have further have become destructive drainpipes for an ailing economy. An analyst further described the country as a young, unprotected, naïve but extremely beautiful lady, who everyone tries to take advantage of, liking the Nigerian economy to a victim of circumstances. Previously, there is an ongoing oil and gas boom in Nigeria, which translates into an attractive market. However, unfortunately, the central government appears too pre-occupied to protect all these from economic predators both within and outside the country, leaving the nation constantly exposed to violation. The swift crash of crude oil per barrel in the international market to $45.89 should not only be a wakeup call to the Nigerian government on the need to revamp the other sectors of the economy especially the crude Palm oil Sector. This can be done by increasing the internal and local production which will help meet up with the internal demand of the product and subsequently boost the export of the commodity. In 1990, the Economic Community Of West African States (ECOWAS) launched a the Economic Trade Liberation Scheme (ETLS) among its member states with the primary objective of establishing a Customs Union aimed at the total elimination of Customs duties and taxes of equivalent effect and removal of non-tariff to protect goods produced in Member States. The ECOWAS Trade Liberalisation Scheme (ETLS) is a trade instrument designed by the Regional Economic Community and administered by the ECOWAS Commission to encourage Intra-ECOWAS trade. There is no denial that the ETLS is the main ECOWAS operational tool for promoting the West African region as a Free Trade Area and the Commission’s first step towards the realisation of the objective of the community which is the establishment of a common market through: “The liberalisation of trade by the abolition, among Member States, of customs duties levied on imports and exports, and the abolition among Member States, of non-tariff barriers….” (Article 3 of ECOWAS Treaty). The ETLS was established as a medium for increasing productivity and market access for products originating from the Region’s domestic economy. The concept was originally intended at benefiting the private sector in particular, and ultimately boosting 1 the West African economy. It was also targeted at reducing the massive importation of goods which West Africa has been known for. Its ultimate goal targets at generating employment among the member States of ECOWAS and increasing intraregional trade. Unfortunately, practical experiences from the private sector engaged in cross border operations have rather continued to show that the implementation of the ETLS despite its enviable goals has remained shoddy and has led to the unattainable realisation of the noble objectives of the founding fathers. The result is that West African intra-regional trade has remained abysmally poor revolving around 10-12 percent. The foregoing predicament coupled with unattractive reports on the ETLS implementation among member states, goes to show how much West Africa may be the architects of her poor performance at the global trade arena. Crude Palm Oil (CPO) under ETLS is classified under processed goods hence enjoys certain concession upon entry into a different ECOWAS state. The three groups of goods under the scheme enjoy the following concessions:

    • Total exemption from import duties and taxes
    • No quantitative restriction,
    • Non-payment of compensation for loss of revenue for unprocessed goods and traditional handicraft product as a result of their importation.
    To however qualify for these concessions, certain conditions must be fulfilled by member states one of which being that the country of origin of such goods shall be from the community with specified percentage of value addition. Although many of the member countries cultivate oil palms there is a need to increase potential production of palm oil in order to meet both the domestic and the regional demand, particularly the needs of ECOWAS member countries with vulnerable economies and high rates of hunger. ECOWAS still experience a deficit of edible oil, which requires the importation of an estimate of 1.5 million metric tons per year and is foreseen to increase to some 2.0 million metric tons by 2020. However, in year 2014, Nigeria alone was reported to have a deficit of over 900,000 metric tons which is about 60% of the total ECOWAS current imported volume. Despite the glaring benefits of the ETLS, certain Stakeholders of the industry have taken undue advantage of the scheme to indulge in sharp practices by importing CPO from member states through round tripping from other countries. These CPO round tripped into these member states are then imported into Nigeria under ETLS zero duty regime. The Federal Government of Nigeria (In one of the National Dailies of 3rd June 2013) confirmed the illegal flooding of the Nigerian market with large volumes of Crude Palm Oil (CPO) imported from neighboring West African nations, under the guise of the ECOWAS Trade Liberalization Scheme (ETLS) According to the report, most of the palm oil imported from Malaysia, Indonesia and others actually end up in the Nigerian market duty-free; thereby displacing locally produced palm oil from the market and suffocating the Nigerian oil palm plantations The article continued to report that the aggregate of locally produced and imported palm oil in these neighboring West African nations by far surpasses what they require both for their domestic and industrial consumption, therefore making the massive Nigerian market the dumping ground for these cheap CPO, which also come into Nigeria duty-free under ETLS; making it by far cheaper than the CPO produced within Nigeria. “Nigeria”, it said, “should be producing and exporting into those countries. We should not be using those countries as transit areas. Regional trade does not mean that we should import. Neighboring West African countries import crude palm oil far higher than their needs. For Benin Republic, between the period 2003 to 2013, their production was stagnant, but their export increased by 1,018 per cent. Their import increased by 1,084 per cent of crude palm oil.”