Niger Coup: Nigeria-Niger Trade Could Lose N50 Billion Due to Instability

The annual trade between Nigeria and Niger Republic, amounting to N50 billion, largely conducted through informal channels, is facing challenges due to the uncertainties surrounding the ECOWAS threat of potential military intervention.

This information was conveyed in a press release issued by the Arewa Economic Forum. Ibrahim Dandakata, the Chairman of the forum, made this announcement on Sunday in Abuja.

The Economic lobby group also warned that the relationships between the Niger Republic and parts of Northern Nigeria are so entrenched that a potential war would have an effect on Nigerians within the area. 

Diplomatic solution 

The Arewa Economic Forum urged President Bola Tinubu to apply all diplomatic means to resolve the Niger Republic crisis rather than agree on an ECOWAS military action. 

Dandakata said that relationships between the people of Niger Republic and parts of Northern Nigeria had been so entrenched that war with the country would have an effect on Nigerians within the axis, citing that the frictions between Niger Republic and Nigeria, due to the disconnection of electricity supply to Niger and closure of its borders with Nigeria, was already taking its toll on innocent citizens of both countries. 

Trade  

The Arewa Economic Forum also noted that ECOWAS must entrench democracy in West Africa, and not the sole responsibility of Nigeria, citing that the N50 billion informal trade is suffering as a result of the uncertainty. 

• “We appreciate the fact that Tinubu’s election as Nigerian president has further consolidated democracy in Nigeria.

• “We urge the president to take cautious steps in resolving the situation in Niger as a military action would affect innocent masses of both countries.
• “Already, trade between both countries, which was largely informal and valued at about N50 billion is suffering ”. 

Sanctions 

Ibrahim Dandakata also added that sanctions should be targeted at the Nigerien military junta and their cronies, while innocent citizens were spared, and urged the military junta in the Niger Republic to immediately express readiness to abide by international trade agreements. 

• “The Federal Government should not punish the Nigerian traders further.

• “We call for a quick resolution through diplomatic means,”. 

In case you missed it 

The leader of the Niger military junta, General Abdourahmane Tchiani, agreed to diplomatic dialogue with the Economic Community of West African States (ECOWAS) after meeting with the Intervention Team of Nigerian Islamic leaders. 

The Niger Republic’s Prime Minister, Ali Mahamane Lamine Zeine, said General Tchiani gave the green light for talks with ECOWAS and was optimistic the talks with ECOWAS would take place in the next few days. 

Green light for dialogue 

• The Prime Minister said, ‘’We have agreed and the leader of our country has given the green light for dialogue. They will now go back and inform the Nigerian President what they have heard from us…. we hope in the coming days, they (ECOWAS) will come here to meet us to discuss how the sanctions imposed against us will be lifted.’’