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Hardship: Okonjo-Iweala Advises Tinubu to Provide Social Safety Nets for Poor Nigerians
The Director General of World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has called on the Federal government to put social safety nets in place for poor Nigerians who are feeling the pains of President Bola Tinubu’s economic reforms.
Okonjo-Iweala stated this on Thursday after a meeting with the president at the Aso Villa in Abuja.
Though she commended the president for the economic reforms including petrol subsidy removal and the unification of the foreign exchange windows, the former Nigerian finance minister said the government must put social safety nets in place for poor Nigerians to cope with the economic hardship occasioned by the government’s reforms.
In a chat with journalists after her meeting with the president, the WTO boss said: “We think that the President and his team has worked hard to stabilised the economy. You cannot really improve an economy unless it is stable. So, he has to be given the credit for the stability of the economy. The reforms have been in the right direction.
“What is needed next is growth; we now need to grow the economy and we need to put in social safety nets so that people who are feeling the pinch of the reforms can also have some supports to weather the hardship. That’s the next step.”
Tinubu, who launched a string of economic reforms when he assumed office in May 2023, has come under heavy criticisms in over two years, as many Nigerians have attributed soaring food inflation and skyrocketing cost of living to majorly his removal of petrol subsidy and the unification of foreign exchange windows.
Angry citizens have held a number of rallies to protest the hardship faced by the middle class and ordinary citizens in the last two years, the most prominent of them being the hunger protests or #EndBadGovernance demonstrations of August 2024.
The Nigerian president’s meeting with Okonjo-Iweala came two weeks before the expiration of her first term as WTO boss on August 31, 2025, and the commencement of her second term on September 1, 2025.
The renowned development economist and global finance expert made history in 2021 as the first African and first woman to lead the 164-nation-member WTO.
The WTO boss, who was in company of Trade Minister Jumoke Oduwole, also briefed the president on the progress made on the Women’s Exporters’ Fund for the digital economy.
Okonjo-Iweala said, “We came to brief him about something very joyful that we did today with the help of the first lady.
“We launched a Women’s Exporters’ Fund for the digital economy. This is a fund that is jointly managed by the World Trade Organisation and the International Trade Centre and support women to weather the storms of the economy and create jobs for themselves.
“It is part of the thinking of social safety net and what we can do to support Nigerian women to contribute more to the economy and to themselves.
“Nigeria competed and one, one of four countries that won globally to be part of this initiative.
“We have 67,000 Nigerian women who applied for this and 146 of them won and they are going to have money disbursed directly to them.
“16 of them won what we called the Booster Track; those who already have businesses but their businesses would be scaled up. They would receive technical and business supports from the WTO and the ITC for 18 months.
“Another 100 would get $5,000 each to start and strengthen their businesses, with 12-month reforms.”
President Donald Trump vowed on Sunday that the United States would take Greenland “one way or the other,” warning that Russia and China would “take over” if Washington fails to act.
Trump says controlling the mineral-rich Danish territory is crucial for US national security given increased Russian and Chinese military activity in the Arctic.
“If we don’t take Greenland, Russia or China will, and I’m not letting that happen,” Trump told reporters aboard Air Force One, despite neither country laying claim to the vast island.
Trump said he would be open to making a deal with the Danish self-governing territory “but one way or the other, we’re going to have Greenland.”
Denmark and other European allies have voiced shock at Trump’s threats over the island, which plays a strategic role between North America and the Arctic, and where the United States has had a military base since World War II.
A Danish colony until 1953, Greenland gained home rule 26 years later and is contemplating eventually loosening its ties with Denmark.
The vast majority of its population and political parties have said they do not want to be under US control and insist Greenlanders must decide their own future — a viewpoint continuously challenged by Trump.
“Greenland should make the deal, because Greenland does not want to see Russia or China take over,” Trump warned, as he mocked its defenses.
“You know what their defense is, two dog sleds,” he said, while Russia and China have “destroyers and submarines all over the place.”
Denmark’s prime minister warned last week that any US move to take Greenland by force would destroy 80 years of transatlantic security links.
Trump waved off the comment saying: “If it affects NATO, it affects NATO. But you know, (Greenland) need us much more than we need them.”
AFP
Iran has warned the United States against any military action, saying it would retaliate if the U.S. President Donald Trump follows through on threats to intervene as Tehran continues its crackdown on nationwide protests.
Iran’s parliament speaker, Mohammad Bagher Qalibaf, issued the warning during a parliamentary session broadcast live on Iranian State television.
Qalibaf praised the country’s military response to the protests and cautioned that both the U.S. military and Israel are considered “legitimate targets” in the event of an attack on Iran.
Referring to Israel as “the occupied territory,” Qalibaf said Iran would not rule out launching a preemptive strike against either country if it perceives a threat.
“In the event of an attack on Iran, both the occupied territory and all American military centers, bases and ships in the region will be our legitimate targets,” Qalibaf said.
“We do not consider ourselves limited to reacting after the action and will act based on any objective signs of a threat,” he added.
The warning came amid scenes of heightened tension in the chamber, as hardline lawmakers rushed the dais and chanted, “Death to America!”
Iran has been rocked by widespread protests challenging the country’s theocratic system over the past few weeks, prompting a sustained security crackdown by authorities.
Activists estimated that at least 116 people have died in connection with the demonstrations, while about 2,600 others have been detained, according to the U.S.-based Human Right Activists News Agency. Exact figures remain unclear due to internet shutdowns and disrupted phone services across the country.
Trump has warned that the United States is prepared to act if Iranian authorities kill protesters.
“If Iran (shoots) and violently kills peaceful protesters, which is their custom, the United States of America will come to their rescue. We are locked and loaded and ready to go,” Trump said earlier this month.
“Iran is looking at FREEDOM, perhaps like never before. The USA stands ready tohelp!!!” he added on his Truth Social platform.
Meanwhile, The New York Times reported that Trump has been briefed on possible military strike options against Iran but has yet to make a final decision.
