Tough choices

Today is Biafra Memorial Day, which for a lot of Igbo people is a day that remembers the brutality of Nigeria's civil war that ended 55 years ago. Earlier in the week, SBM Intel published a report on the impact of secessionist sit-at-home protests that have been affecting Southeast Nigeria since 2021. Our study found that the protest action has cost the region at least $4.8 billion in lost revenue. How has it come to this? Nigeria’s President Bola Tinubu has requested that the National Assembly approve over $21.5 billion in foreign loans for Nigeria’s 2025–2026 budget. These loans will cover approximately 60% of the 2025 budget and are intended to create jobs, address budget gaps, and drive reforms. Is borrowing this much a good idea for Nigeria’s future?Niger has expelled some Chinese oil workers over rule violations and is pushing for greater control of its resources, while in Guinea, the military government cancelled 129 unused mineral permits, claiming it wants to attract new investors. Meanwhile, the EU is investing €40 million to upgrade the Douala–N’Djamena trade route for better regional trade, and Togo launched a $1.6 million credit line for women entrepreneurs. Experts say deeper reforms are still needed. Are these moves signs of stronger governance or just short-term fixes in West and Central Africa?Support the show