The recent re-election of Donald Trump to the U.S. presidency, defeating Vice President Kamala Harris, has raised questions about how his policies might shape global investment flows over the coming years.

During Trump’s first term, Nigeria saw a substantial boost in foreign capital inflows, receiving five times more than it has under President Joe Biden’s administration.

According to data, Nigeria attracted a total of $10.5 billion in foreign capital during Trump’s first four years in office, compared to just $2.39 billion so far under Biden.

Analysts suggest that this disparity reflects the interplay of U.S. monetary policies, Nigeria’s interest rate strategy, and currency stability—factors that collectively created a more favourable investment climate during Trump’s tenure.

Comparative Capital Inflows: Trump vs. Biden 

A closer look at the data reveals that under Trump’s administration, Nigeria’s capital inflows rose steadily, reflecting a favourable environment for foreign investment. The year-by-year breakdown of capital inflows shows this trend:

• 2016: $950 million
• 2017: $2.47 billion
• 2018: $3.58 billion
• 2019: $4.5 billion

By 2019, total capital inflows to Nigeria had hit a peak of $23 billion, with the United States alone contributing $4.5 billion. In contrast, under Biden, Nigeria has experienced a drastic reduction, attracting just $2.39 billion so far—roughly a quarter of what was achieved under Trump.

Key factors driving capital during Trump’s term 

Interest Rate Policies: During Trump’s presidency, the U.S. maintained relatively low interest rates, making emerging markets like Nigeria more attractive to U.S. investors seeking higher returns.

• At the same time, Nigeria offered competitive interest rates, particularly between 2017 and 2018, to draw in foreign portfolio investment.
• Higher yields on Nigerian government securities during this period boosted investor interest and inflows.

Exchange Rate Stability: Another factor that underpinned Nigeria’s capital inflows was the relative stability of the naira.

• Between 2017 and 2019, the Central Bank of Nigeria (CBN) managed to keep the naira at around N360/$1, creating predictability for foreign investors concerned about currency risk.
• A stable currency is a significant consideration for investors, particularly in emerging markets, where currency depreciation can severely impact returns.

In the subsequent Biden years, the story shifted. With the U.S. Federal Reserve raising interest rates to combat inflation, many investors turned back to the U.S. for higher, safer returns.

This policy change, alongside a stronger dollar, led to a reduced appetite for riskier emerging market assets. Additionally, Nigeria faced increasing challenges in maintaining currency stability and faced significant depreciation pressures, which have made the investment environment less predictable.

Implications of Trump’s return to office 

As Trump assumes office for a second term, the question arises: will Nigeria again see increased capital inflows?

If Trump reintroduces his prior policy stance of encouraging low interest rates, there may be an uptick in investor interest in emerging markets like Nigeria.

However, Nigeria’s ability to capitalize on this will also depend on its domestic economic policies, especially concerning exchange rate stability, inflation management, and a favourable interest rate regime.

Looking Forward: For Nigeria, Trump’s re-election presents a renewed opportunity to attract foreign capital. However, maximizing this potential requires careful alignment of domestic policies to create an investor-friendly climate.

Policymakers will need to focus on exchange rate stability, competitive interest rates, and continued reforms that enhance Nigeria’s global investment appeal.

[Nairametrics]

President Bola Tinubu has approved a significant policy shift, granting ministers of state full authority to oversee the agencies and departments under their supervision.

Previously, permanent secretaries would send files related to the departments and agencies under a minister of state’s supervision to senior ministers for final approval.

This system limited the decision-making capabilities of ministers of state, effectively reducing their roles to nominal positions.

According to a source from the office of the head of service of the federation who spoke with The Cable, President Tinubu expressed dissatisfaction with the previous structure, which he believed resulted in the “underutilisation of the expertise and capabilities” of ministers of state.

“The president was not pleased with the prevailing governing framework in which ministers of states were just ministers in name,” the official disclosed.

The new directive enables ministers of state to grant all necessary administrative approvals, allowing them to make decisions and direct actions within their areas of responsibility.

This move is aimed at “unleashing” the potential of all cabinet members, ensuring a more efficient governance process.

Tinubu’s cabinet comprises 48 ministers, of which 16 hold junior positions. The ministries affected by the new directive include agriculture and food security, defence, education, the Federal Capital Territory (FCT), foreign affairs, health, petroleum (oil and gas), humanitarian and poverty reduction, and women affairs.

Other ministries impacted are works, regional development, labour and employment, finance, trade and investment, and housing and urban development.

[NaijaNews]

Bridget Jones is back for a fourth installment.

Titled ‘Bridget Jones: Mad About The Boy’ the film which is based off Helen Fielding’s novel of same title, will show the protagonist Bridget’s (reprised by Renee Zellweger) experiences trying to raise two children post the death of her husband, and dating.

Actor Hugh Grant has described this fourth film as the ‘best’ and “the one with the most heart”.
64-year-old Grant who will be reprising his role as Bridget’s ex-boss and playboy Daniel Cleaver said, “It is very moving but also very funny,” and has the best script thus far compared to the first three films. He has also had to rewrite the film script, to fit in his character who had no part in the story.

“I loved the script, it made me cry, and I wanted to help with this one. But there’s really no part for Daniel Cleaver in it at all. They wanted him in it, and in the end, they’d done something I wasn’t crazy about.” So, he rolled up his sleeves and went to work on the script to come up with scenes for his character that made the final cut.

“I’m not in a lot – I did a week’s work, that’s it. But when you see the film, you’ll be very moved,” Grant told Vanity Fair last April.

Although his character Mark Darcy hasn’t been mentioned at all – in connection with ‘Mad About The Boy’ – it is safe to say that Colin Firth’s won’t be returning based off the cast list – which include – Emma Thompson (reprising her role as Bridget’s doctor from the third installment), Chinwetalu Ejiofor, Isla Fisher, Josette Simon, Nico Parker, Leila Farzad, and Leo Woodall.

Zellweger, 55, in a 2022 interview with Sirius XM said of her character, “I find her so endearing … her self-deprecating sort of determination. I love her. And I think it’s really rare to get to follow a character through different stages in her life.”

Based off Helen Fielding’s novel, Bridget Jones film series begins with ‘Bridget Jones Diary (2001)’ in which titular character (Zellweger) spends a year juggling her relationships with barrister Mark Darcy (Colin Firth), and her boss Daniel Cleaver (Grant) through the lens of her diary.

The second film, ‘Bridget Jones The Edge of Reason’, followed in 2004 and captures Bridget grappling with her choice of romance and conflicts surrounding that relationship. The third film ‘Bridget Jones’s Baby’, released 16 years later in 2016, tackles Bridget’s sudden prospect as a single mother, and who the father might be.

‘Bridget Jones: Mad About The Boy’ will open in Peacock and cinemas on February 14, Valentine’s Day, 2025.

[Leadership]

The management of Jos Electricity Distribution (JED) has disclosed that over 80 transformers within its franchise areas were vandalized and looted during the recent power outage experienced in the north.

The company also stated that huge cables supplying power to communities were stolen during the period, adding that Plateau was the most affected.

Eng. Hamisu Wakili Jigawa, Chief technical officer in charge of operations , disclosed this to Daily Trust at the headquarters of the company on Friday.

According to the technical officer, activities of the vandals affected smooth and efficient supply of power to the affected communities. He said “the vandalism of the transformers and stolen of the cables were quite challenging to us. The level of vandalism is too much. Some lines entirely vandalized.

“Aluminum conductors feeding some communities entirely vandalized. We have about 213 kvs that are completely out of circuits for a number of day. It was yesterday that we were able to fix the last one. We have lost a lot of distribution assets especially distribution transformers and cables. In some cases, the vandals open the transformer, remove the oil, coil and entirely everything. They only live empty tank, “ he added.

Eng. Jigawa however called on various communities to be vigilant and provide adequate security for the electrical assets, emphasizing that vandalizing them will continue to leave people in darkness.

[Dailytrust]

An independent investigation committee set up by the National Human Rights Commission (NHRC) has cleared the military of an allegation that it conducted forced abortions on thousands of women in the north-east.

However, the panel indicted some soldiers for setting ablaze a woman and three children in Borno state in 2016.

The incident occurred in Marte LGA of the north-eastern state.

The findings of the committee led by Abdu Aboki, a former supreme court justice, was sequel to reporting that the military forced women to have at least 10,000 abortions between 2013 and 2021.

Speaking during a presentation of the report in Abuja on Friday, Hilary Ogbonna, secretary of the panel, said the investigative committee found out that a non-governmental organisation (NGO) conducted abortions of women in north-east during the aforementioned period.

“For the abortion assault, the panel did not find evidence that the Nigerian Armed Forces committed a systematic, secret or policy driven abortions in north-east to the tune of 10,000,” Ogbonna said.

“There was no evidence before the panel to prove that.

“For smother and poison, the panel did not find the military culpable for the massacre of children, but the panel found the military culpable of infabticide and the killing of community members in a village in Marte LGA of Borno on the 16th of June 2016.

“We recieved witness testimonies of that of survivors – you will find all of these in the report.”

The panel’s secretary said they interviewed 199 witnesses to get testimonies to arrive at their findings and conclusion.

[TheCable]

The Inspector-General of Police, Kayode Egbetokun, has condemned alleged extortions by some officers of the Nigeria Police Force in some areas within the country.

This statement is about the extant case involving the officers of the Zone 16 Zonal Headquarters, Yenegoa, identified as ASP Emmanuel Ubong, Inspector Nse Okon, Inspector Adiewere Collins, and Inspector Kuromare Marine.

The officers were accused of extorting the sum of ten million naira from a group of young Nigerians.

A statement signed by the Force Public Relations Officer, Olumuyiwa Adejobi, revealed that the money has been recovered and the officers have since been detained and subjected to an orderly room trial.

According to the statement, the IGP “maintains a zero-tolerance policy for any act of corruption and police misconduct, as the Force takes every allegation of extortion and abuse of power extremely seriously.”

Egbetokun also mandated severe consequences for any officer, no matter how highly ranked, found culpable of extortion and abuse of power.

The IGP reassured the general public that the Nigeria Police Force will continue to investigate all allegations levelled against erring officers.

[DailyPost]

A non-governmental organisation, Yiaga Africa, has alleged political parties and candidates in Ondo State have resorted to inducing voters with cash gifts and food items to secure their support ahead of next week’s governorship election.

It said its Long Term Observers  observed cases of voter inducement during campaign activities in Akure South, Ese-Odo, Ifedore, Irele, Ondo East, Ose, and Owo LGAs

The organisation alleged that leaders of the All Progressives Congress (APC) distributed fertilisers, rice, cassava, and maize to community leaders tasked with distributing these items within their areas of influence.

This was contained in Yiaga’s Pre-election Assessment report presented at the signing of Peace Accord in Akure, the Ondo State capital.

The report said voters turnout in Ondo State have not exceeded 40% since 2011.

It said Ondo North has a long history of high voter turnout even though Ondo Central has the highest concentration of registered voters since the conduct of the 2011 election.

According to the report,  “With the exception of the 2011 presidential election, Ondo central senatorial district has the highest case of rejected votes in all election preceding the 2020 election.

“As the election approaches, tensions between political parties are escalating, with different sides trading accusations and warnings.
“The situation underscores the need for vigilance and peaceful conduct frollm all stakeholders involved. Security agencies should take proactive measures to mitigate these risks.

“Ensuring the safety of voters, election o cials, and all other participants is paramount to upholding the integrity of the electoral process. Preventive measures must be prioritized to avert violence and ensure a peaceful election.”

[TheNation]

A group, the Nigerian Coalition of Civil Society Organisations, has called for immediate investigations into alleged sabotage against the plan to turn around the petroleum refineries in the country.

This is just as the group demanded the immediate removal from office of the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, noting that his management of the oil industry has done more to the local refineries than good.

In a protest rally at the National Assembly Complex, Abuja, on Friday, the coalition of Civil Society Organisations said policies formulated by the NNPCL to reposition the oil sector are merely profit-driven but “Obstructs local initiatives designed to support energy self-sufficiency and job creation.”

Addressing journalists at the event, the national spokesperson of the group, Segun Adebayo, asked President Bola Tinubu to caution the NNPCL leadership to avoid policies that could lead Nigeria into further economic crises. 

He said, “Despite Nigeria’s potential to refine fuel locally, vested interests within the NNPCL continue to impose Premium Motor Spirit importation on Nigeria. This unnecessary import dependency costs Nigeria billions in foreign exchange every year, placing our economy under enormous strain. Meanwhile, the people bear the brunt of fluctuating global oil prices and currency devaluation, and this cabal profits from maintaining the status quo.

“We must hold accountable those who prioritise personal gain over national prosperity. They are frustrating the nation’s move toward self-sufficiency, ensuring that Nigeria remains exposed to the volatility of the international oil market. This is unacceptable and unsustainable for a nation as richly endowed with natural resources as ours.

“Nigerian industrialists, such as Aliko Dangote, have invested heavily in local refineries to curb Nigeria’s reliance on imported fuel. The Dangote Refinery represents a transformative opportunity for energy independence and economic growth. However, instead of supporting these efforts, the cabal at the NNPCL has actively hindered local refinery operations, prioritising imported PMS and discouraging local refining. This calculated sabotage deters investors, limits job creation, and keeps Nigeria locked in economic dependency.”

“We know President Tinubu loves Nigeria and wants the best for Nigeria; hence, we urge him to caution the NNPCL leadership, led by Mele Kyari, to avoid policies that could lead Nigeria into further economic crises. The President should immediately authorise an investigation into this cabal’s activities within the fuel sector to uncover and expose any malicious manipulation or corruption.”

Also speaking, the national coordinator of the group, Benjamin James, called on the authorities to allow the sale of crude to local refineries in naira.

He said, “One critical policy shift we advocate for is mandating that Nigerian crude oil be sold to local refineries in naira rather than in dollars. This change would significantly reduce our foreign exchange losses, empower local businesses, and protect the naira. A shift to selling crude oil domestically in naira would also send a strong message that Nigeria is serious about prioritising its local industries and economic sovereignty.

“Such a policy will empower local investors, encourage growth in the refinery sector, create jobs, and reduce fuel prices domestically. It will strengthen Nigeria’s economy and make us more resilient to external economic pressures. The time has come for Nigeria to take ownership of its resources and ensure that our natural wealth benefits the Nigerian people rather than a select few.”

The group also called for the sack of the NNPCL’s boss, threatening to take the protest to the 36 states of the federation if their demand was not met.

“We are here today at the National Assembly to demand that our representatives stand with the Nigerian people. We call for the immediate removal of Mele Kyari from his position as the Group Chief Executive Officer of NNPCL. His leadership has frustrated local refinery initiatives, maintained harmful policies, and upheld a system that harms the nation’s economy.

“If the government does not act, NICOCSO here today, pledge to continue this advocacy, rallying every day across the 36 States to make our voices heard. We will not stand down until this administration addresses our demands for transparency, reform, and accountability within the NNPCL. Our economy and the well-being of the Nigerian people depend on decisive action against those who hinder our path toward energy independence,” he added.

[Punch]

A FEW hours after Donald Trump proclaimed victory over Kamala Harris in the United States, US, presidential election, groups in the Caribbean and Latin America met virtually to discuss the future.

Convened by the ten-country Bolivarian Alliance for the Peoples of Our America, ALBA Movimientos, the participants on the Wednesday, November, 6, 2024, focused on the on-going struggles for independence in Martinique and Guadeloupe and the implications of a second Trump presidency for independence struggles.

Martinique is the birth place of Franz Fanon, famous author of The Wretched of the Earth which became the handbook of many liberation fighters.

Guadeloupe is the butterfly-shaped six-island country with enchanting beaches, tropical rainforest and famous for its rum and sugar.

On the other hand is Western Sahara, also known as the ‘Last colony in Africa’, which has been mainly occupied by neigbouring Morocco in an attempt to re-colonise it. Trump, in one of his inexplicable acts as US President, had given Western Sahara, a land his country never owned, to Morocco. So there is the issue: what would a renewed Trump presidency try against this sovereign African country?

Then there is the issue of Puerto Rico, a US colony whose people have no voting representation in the Congress or federal government. In fact, during the Madison Square Trump rally in October 2024, a comedian, Tony Hinchcliffe, called Puerto Rico a “floating island of garbage”.

Esteli Capote of the IPRI Puerto Rican Institute of International Relations spoke about the outcome of the election and the implications of a renewed Trump presidency.

She said for Puerto Ricans the American election was a “Colonial electoral process” in which the Puerto Rican Independence Party came second. This, she said, was the first time in over two centuries the independence movement would garner such votes. Esteli said with such large amount of votes for those who want independence: “We are saying to the US that we are tired of the colonial process; we are saying we are ready to move on to independence.” She said the US had deliberately impoverished Puerto Ricans and turned them in to a heavily indebted people. She added that Puerto Rico has been consciously working with regional organisations because: “It is important for us to work with the Caribbean, to work towards Our America. We are surrounded by water (but) we touch the same sea. Without the Caribbean, there is no American continent. Unfortunately, Puerto Rico is being used to militarise not just the Americas, but other peoples. There are ten bases in Puerto Rico, not just for war, but also against countries that are progressive like Venezuela. The bases here were used for the attempted coup in Venezuela. It is important to state that Puerto Ricans have never given up on independence.”

Esteli said her people developed the slogan, ‘Puerto Rico for Puerto Ricans’ because US citizens come to displace the people. That slogan, she said, is now being expanded to: “The Caribbean for the Caribbeans” because the people are inspired by the teachings of Bolivia and Jose Marti. She talked about a dream to build a confederation of the Latin American people.

The Puerto Rican leader talked about her experience in Abuja, Nigeria in August, 2024 when the international relations think tank, the Society for International Relations Awareness, SIRA, organised an international conference to end colonialism in the world. She said its main achievement was the transformation of the conference into an international End Colonialism Movement, ECM, with the aim of uniting all colonies to end colonialism.

The Puerto Rican internationalist called on all Caribbean, Pacific and Latin American countries to encourage the establishment of ECM branches. She said organising peoples for freedom has taken a more urgent need with the re-election of Trump because in his last presidency, he issued a lot of decrees against various peoples.

Cuba, she said, has been at the forefront of the war against colonialism. So: “If we want to fight colonialism, we must also fight against the (American) blockade of Cuba.”

Daylon Roque of the ALBA Movimentos said the struggles of the Caribbeans, Latin Americans and Africans are linked.

Roque refered to the February 4, 1962 ‘Second Havana Declaration’ in which Fidel Castro emphasised that national liberation has to be for all peoples. Fidel had submitted: “What is Cuba’s history but that of Latin America’s? What is the history of Latin America but the history of Asia, Africa and Oceania? And what is the history of all these peoples but the history of the cruellest and most ruthless exploitation of the world by imperialism?”

Roque said Cuba decided to militarily intervene in Africa against the advice of the Soviet Union which showed that Cuba was not being dictated to by the former. He said Cuba is propelled by principles which is why it supports Argentina on the issue of the Malvinas which is being colonised by Britain. He said it is based on these principles that Cuba annually raises the issue of de-colonisation in the United Nations.

Alain Limery, of the National Council of Popular Committees in Martinique, said the country is monopolised by the descendants of the old slave owners. He added that the protests in Martinique are a mere symptom of the crises in the region, adding that the option is either chaos or change. He said to the people the only solution is independence. The reaction of colonial France, he added, has been to bring back its murderous riot squad which had previously committed crimes against humanity.

Limery is optimistic that a New World Order is rising, pointing out that the rise of the BRICS may well be heralding that new order.

Jean Yves Judith, of the Association of Workers and Peoples of the Caribbean, presented Guadalupe’s position. He said the French have been saying that colonialism is not a crime against humanity. He added that there is the need to have a structure that can organise the workers and peoples of Martinique and Guadalupe.

Kandis Sebro, host of the virtual conference, highlighted the on-going struggles in Martinique and Guadalupe, the push-back against neo-colonialism in the Sahel, the colonial debt crises heaped on Haiti, the principled struggles of Cuba, the teachings of Walter Rodney on underdevelopment, and the need for emancipation.

The participants said they recognise that the re-election of Trump is part of the rise of the far-right and fascist forces, so there is the need for all progressive forces to unite.

Micherline Islanda Aduel, a youth peasant leader from Haiti who has been displaced for ten years, moderated the conference. She rounded off the programme with the advice that progressive humanity needs to raise awareness against colonialism and build advocacy for freedom.

Former President Olusegun Obasanjo recently reflected on his time in prison, recounting the pivotal role his late wife, Stella, played in securing his release.

Obasanjo shared these memories during the inauguration of the 250-bed Stella Obasanjo Hospital in Benin, Edo State’s capital.

Obasanjo was detained under General Sani Abacha’s regime for alleged coup involvement and was freed by AbdulSalam Abubakar’s administration after Abacha’s death, leading to his presidency.

His late wife, Stella Obasanjo from Edo State, championed his release and later became the first lady before passing away during his second term.

Reflecting on her dedication, the 87-year-old praised Stella’s commitment, saying, “My late wife went everywhere to ensure that I came out of prison alive. She was in Vatican City, France and other parts of the world. I had it all coming out of prison.” He added, “No amount of honour would be too much for the role she played.”

Obasanjo expressed deep gratitude for the honour given to Stella through the hospital, noting, “I had a woman who made tremendous contributions to my achievements in public life.”

Obasanjo also acknowledged Governor Godwin Obaseki’s role in the hospital project, lauding him for “starting and finishing well” in office. He further reminisced about his past work with former Governor John Odigie Oyegun, whom he described as an exceptional permanent secretary.

“With this hospital, you’re assured of first-class treatment for any ailment,” he said. “More grace to the elbows of the governor. With this kind of edifice, I can say that the governor started well and is finishing well.”

[Vanguard]