Ghana's Gold Trade Drives Record $5 Billion Trade Surplus in 2024
Ghana achieves a record-high trade surplus of $5 billion in 2024, driven by a significant increase in gold shipments, which could help stabilize the country's currency.
Elliot Kim
Nigeria's President Bola Tinubu has declared a state of emergency in Rivers State, the country's primary oil-producing region, citing political crises and a recent oil pipeline explosion. The declaration comes with the suspension of Governor Sim Fubara, his deputy, and members of the State House of Assembly for six months.
The move is seen as a response to the unending political crises in the state, which have led to a standstill in governance and deprived the people of good governance, according to President Tinubu. The president expressed his disturbance at the situation, stating that he could not stand by without taking action to restore peace and good governance in the state.
This is not the first time Nigeria has declared a state of emergency. In 2013, former President Goodluck Jonathan declared a state of emergency in three North Eastern states - Adamawa, Borno, and Yobe - in response to insecurity issues and terrorist activities. The declaration did not come with the suspension of government officials.
In 2006, former President Olusegun Obasanjo declared a state of emergency in Ekiti State, suspending the then-governor, Ayodele Fayose, and the State House of Assembly for six months. The reason for the suspension and declaration of the state of emergency was the turmoil that Ekiti State had descended into as a result of the contentious impeachment of Governor Ayo Fayose.
In a similar move, President Olusegun Obasanjo declared a state of emergency in Plateau State in 2004, suspending the state House of Assembly and then-Governor Joshua Dariye for six months. The declaration was in response to ethnic conflicts that had resulted in devastation and several deaths.
The current state of emergency declaration in Rivers State is seen as a significant move by President Tinubu to address the political crises and restore order in the state. The suspension of Governor Fubara and the State House of Assembly members is expected to last for six months, during which time the president hopes to restore good governance and peace in the state.
The oil pipeline explosion, which occurred recently, has added to the political tensions in the state, and the president's declaration of a state of emergency is seen as a response to the growing insecurity in the region. The move is expected to have significant implications for the oil industry in Nigeria, as Rivers State is a major oil-producing region.
As the situation unfolds, it remains to be seen how the declaration of a state of emergency will impact the political landscape in Rivers State and the country as a whole. One thing is certain, however - the move marks a significant shift in the government's approach to addressing political crises and insecurity in the region.
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