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Ignore European Union, Don’t Sign EPA, Group Tells Nigerian Government

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European Stocks

Social Action, an economic and social rights group, has asked the federal government to not to sign the Economic Partnership Agreement, EPA, with the European Union, EU.

The EPA is purportedly to eliminate trade restrictions between it and member states of the Economic Community of West African States (ECOWAS).

Promoters of the agreement say signing it will give the 16-member ECOWAS states ECOWAS better access to EU markets and ensure their integration into the global economy.

Although about 13 members of the regional body have since signed the draft agreement, Nigeria has consistently resisted the pressure to do so.
Ghana and Ivory Coast have also resisted the EPA.

At the 49th Ordinary Session of the ECOWAS in Dakar, Senegal in June 2016, Vice President Yemi Osinbajo reiterated Nigeria’s fears about the agreement.

Apart from fear of the agreement exposing Nigeria to become dumping ground for European goods and services, Mr. Osinbajo said some of its terms were capable of restricting Nigerian manufacturers and trading activities.

But, at the end of a roundtable organized by Social Action on the EU/ECOWAS EPA in Abuja, participants urged the Nigerian government to unequivocally reject the deal.

The group said it was worried by the enormous pressure by EU on Nigeria, saying government risked ratifying an EPA Nigerian manufacturers, civil society actors and trade experts have raised red flags against.

A12-page “briefing” document discussed during the roundtable revealed a high level of ignorance among Nigerians on the implications of the proposed agreement.

The head of Social Action, Vivian-Bellonwu Okafor, said the group was shocked that signing the EPA resurfaced this year after several rejections by successive governments.

“Nigerians need to analyze and understand how the EPA would affect the national economy,” Mrs. Okafor said.

The group said it doubted whether the Nigerian economy was strong or prepared enough to take advantage of the European markets as proposed under the EPA.

Besides, the group said Nigeria did not have a readily available comparative advantage to explore EU markets, while most African countries, particularly Nigeria, do not have finished goods to sell to EU markets.

“Considering the mismatch of the two regions, in terms of technological advancement and manufacturing experience, is Nigeria advantageously placed in this agreement?” the group asked.

Lead speaker, Jaiye Gaskiya, opposed the EPA, describing it as “premature and counter-productive, as Nigeria’s industrial revolution plan will never see the light of the day.”

A trade lawyer, Ken Ukoha, who represented the National Association of Nigerian Traders (NANTS), said “judging the outcome against objectives, it would be ill-advised for Nigeria to sign an agreement that would weaken her economy through capital flight.”

The coordinator, African Media and Information Literacy, Chido Onumah, said signing the agreement with the EU would be tantamount to further subjecting Nigeria to the dictates of Western financial capital.

“This certainly is a neo-colonialist attempt to render Nigerians and Africans permanently dependent on the Europeans,” Mr. Onumah said.

In the communiqué at the end of the meeting, the group said rather than sign the EPA, government should pursue and implement the National Industrial Revolution Plan to strengthen the Nigeria industrial sector.

Besides, it urged government to engage Nigerians and get inputs towards the efficient implementation of the industrial development policy.

Other recommendations included diversification of the economy by maintaining a paradigm shift from mono to multi-products, for opportunity to cash in on the proposed open EU markets.

The group also urged government to encourage extraction activities and utilization of local raw materials through the development of local content policy and enforcement.

“Government must embark on infrastructural development revolution policy to restore effectiveness and capacity to support industrialization.

“Government must maintain the culture of development sustainability through objective formulation and implementation of sustainable development policies framework,” it said.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Government

Zabarmari Massacre: Buhari to Provide More Resources for the Nigerian Military

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President Muhammadu Buhari

President Muhammadu Buhari has promised to provide more resources to the military in the aftermath of the Zabarmari massacre.

On Saturday, Boko Haram killed 43 people with around 70 people still missing in Zabarmari, a village in Borno State.

Reacting to the massacre, Buhari, through his official Twitter handle @MBuhari said “Nothing is more important than ensuring the security of lives and property of Nigerians. Everything is secondary when security is at stake. I will ensure that more resources are made available to the military and other security agencies to prosecute the war against terrorism.

“As we mourn all the lives lost in Zabarmari, the Armed Forces have been given the marching order to take the fight to the insurgents, not on a one-off, but on a continuous basis, until we root out the terrorists.

“We will intensify our cooperation with neighbouring countries on bilateral and multilateral levels, to ensure that there is no hiding place for the terrorists.

“As I noted earlier, the massacre by Boko Haram in Zabarmari is nothing short of senseless, barbaric, gruesome and cowardly. It reinforces our resolve to root out all forms of insurgency and insecurity not just in Borno but everywhere across Nigeria.”

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Boko Haram Kills Rice Farmers in Borno State, Northeast Nigeria

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Rice farmers were killed on Saturday morning in the Northeast Nigeria by suspected Islamist militants, Boko Haram, according to a Reuters Report.

The report also noted that 30 of the people killed were beheaded while over a dozen others were still missing.

However, resident of the Zambarmari Village where the attacks took place said a total of 70 people were feared dead.

Another resident and Amnesty International were quoted as saying at least 10 women were among those missing.

In another statement by Edward Kallon, the United Nations’ humanitarian coordinator in Nigeria, it was armed men on motorcycles that led the brutal attack on civilians harvesting their fields.

Armed men on motorcycles led a brutal attack on civilian men and women who were harvesting their fields,” Edward Kallon stated.

“At least 110 civilians were ruthlessly killed and many others were wounded in this attack,” he added, noting that several women are believed to have been kidnapped.

“The incident is the most violent direct attack against innocent civilians this year. I call for the perpetrators of this heinous and senseless act to be brought to justice,” Kallon said.

On Sunday, Governor Babaganan Umara Zulum of Borno State, who was at the burial told journalists that at least 70 farmers were killed on Saturday.

The Governor, therefore, called on the Federal Government to recruit more Civilian Joint Task Force members, Soldiers and civil defence fighters to protect farmers in the region.

He added that people are facing desperate choices.

In one side, they stay at home they may be killed by hunger and starvation, on the other, they go out to their farmlands and risk getting killed by the insurgents,” he said.

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In The Fight Against Corruption, No Individual is Bigger Than The State – Buhari

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Muhammadu Buhari

In response to the suspended acting EFCC Chairman, Ibrahim Magu, President Muhammed Buhari, lamented that the anti-corruption war becomes endangered “when persons entrusted with the responsibility of that magnitude become suspects themselves.”

Buhari, whose vision is to put an end to corruption in Nigeria, believed that every aspect of the nation’s life is enshrined in corruption and it’s of major concern when leaders of institutions saddled with the mandate to fight the menace are found in the waves of the corruption they claimed to be fighting.

This act is a great abomination not only because it strikes at the root but it also trivialises and undermines the anti-corruption crusade itself, the President explained.

He further said that in a bid to put an end to this great abomination, he had set up Ayo Salami Panel to unravel the mystery behind the mystique of Magu’s alleged involvement in corruption that his administration is fighting.

Buhari said that his administration is ready and willing to go all out in the fight against corruption, and no one is too big nor above the law to become a victim of anti-graft’s sledgehammer.

The president said, “However, the stark reality of widespread corruption becomes poignant when allegations of corruption touch on the leadership of an institution set up by law to coordinate and enforce all economic and financial crimes.

“It is an abomination that strikes at the root and undermines the government’s anti-corruption programme.

“It was in response to the serious allegations against the Economic and Financial Crimes Commission that I set up a panel headed by the Honourable Justice Isa Ayo Salami, retired President of the Court of Appeal, via an Instrument dated 3rd July 2020 pursuant to the Tribunals of Inquiry Act (Cap T21, LFN, 2004).

“We recognise that there are more grounds to cover in the war against corruption, and we are prepared to go out to possess those lands by cutting off any stream that nourishes the seed of corruption and supports its growth.

“Let it be known that in the fight against corruption, no one is too big to tackle, as no individual is bigger than the Nigerian State!”

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