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Buhari seeks fresh loan of $5 billion.⠀
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On Thursday, #Nigeria’s Speaker of the House of Representatives, Femi #Gbajabiamila, read a letter from President #Buhari seeking approval for a $5.513 billion loan from external lenders.⠀
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In the letter, the President explained that the loan will be used to finance the 2020 budget deficit and support critical regional and state projects.⠀
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The funds are expected to come from several external lenders, including the International Monetary Fund, World Bank, African Development Bank, and the Islamic Development Bank.⠀
-⠀
In April, the National Assembly approved a loan of N850 billion sourced from domestic lenders. Another separate loan of $22.79 billion is still pending approval from the House.⠀
___________⠀
📝: Ibukun x Ugonna, Editorial Interns⠀
📷: President Buhari in an online meeting with the Presidential Task Force on COVID-19. Photo: Twitter

Is Microfinance a poverty trap in disguise? -⠀ I

Is Microfinance a poverty trap in disguise?
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In our weekly newsletter, we discuss trending topics from our published essays in order to foster necessary conversations about Nigeria and Africa.⠀
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Last week, we published an essay on how development programmes discriminate against women and perpetuate gender inequality.⠀
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In the essay, author, Fadekemi Abiru argues: ‘microfinance shift the burden of poverty alleviation to the poor and marginalized.⁠’⠀
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What are your thoughts? Is microfinance a poverty trap in disguise? Join this week’s debate by clicking the link in our bio. Don’t forget to subscribe.⠀
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Interesting responses may be featured on our website.
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Artificial intelligence: what is at stake? #OnSite

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In our latest online essay, policy researcher, Victor Famubode, writes about the dangers of unregulated artificial intelligence.⁠
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The current unprecedented times amplify the need for artificial intelligence. However, they also highlight the need for strong leadership in digital governance.⁠
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📷: Two programmers working together in Lagos, Nigeria. Photo: Nessa by Makers/Unsplash

“Your Body is War” - Mahtem Shiferraw w/@jemil

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Today in 1975, ECOWAS was formed.⠀ -⠀ On 28 Ma

Today in 1975, ECOWAS was formed.⠀
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On 28 May 1975, the leaders of 15 West African countries met in #Lagos, #Nigeria to sign the Treaty of Lagos, an official document that established the Economic Community of West African States (#ECOWAS).⠀
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The initial purpose of ECOWAS was to foster economic integration in West Africa. However, in 1993 the original treaty was revised. The revised treaty set out to create a single currency, a West African parliament, and a court of justice. So far, only the single currency is still pending.⠀
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#DidYouKnow that Mauritania is the only former member of ECOWAS? #Mauritania officially withdrew its membership in 2000 to join the North African #Arab #Maghreb Union. In 2017, it became an associate-member of ECOWAS.⠀
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📝: Ibukun x Ugonna, Editorial Interns⠀
📷: Senegal's president Abdou Diouf is welcomed by Togolese president Gnassingbe Eyadema at his arrival at Lome airport, to attend the ECOWAS summit in Togo. June 25, 1988. Photo: Twitter.

Crisis in southern Kaduna.⠀ -⠀ According to th

Crisis in southern Kaduna.⠀
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According to the Daily Post, at least 107 people from the Adara community in Kajuru, Kaduna have been killed and 20,000 displaced this year alone.⠀
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Mr Awemi Maisamari, National President of the Adara Development Association, said that the violence was carried out by Fulani gunmen.⠀
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The Adara people are a minority ethnic group predominantly based in southern Kaduna. Since 2016, Adara farming communities have clashed with Fulani herdsmen.⠀
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Maisamari reports that since 2016, more than 209 attacks have led to the death of 722 Adara people, and the abduction of 231 more. Thirty-eight villages and 817 houses have also been destroyed.⠀
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📝: Ibukun x Ugonna, Editorial Intern⠀
📷: An Adara farmer visits an area of destroyed and burned houses after a Fulani attack in the Adara farmers' village of Angwan Aku. 2019. Photo: Luis Tato/AFP

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