⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

US determined to remain strong security partner for Nigeria -Blinken

Published 01/23/2024, 04:17 PM
Updated 01/24/2024, 07:12 AM
© Reuters. U.S. Secretary of State Antony Blinken attends a press conference with Minister of Foreign Affairs of Nigeria Yusuf Tuggar at the Presidential Villa in Abuja, Nigeria, January 23, 2024.     Andrew Caballero-Reynolds/Pool via REUTERS

ABUJA/WASHINGTON (Reuters) - Secretary of State Antony Blinken on Tuesday said the United States is determined to remain a strong security partner for Nigeria, whose military is backed by the U.S., Britain and other allies in a long war against Islamist insurgents.

Blinken also discussed challenges to democracy and security in the region during his meeting on Tuesday with Nigerian President Bola Tinubu in a visit that comes after last year's coup in neighboring Niger, one of a series of coups or attempted power grabs over the past few years in West and Central Africa.

"The United States is determined to be and remain a strong security partner for Nigeria," Blinken told reporters.

Blinken added that he discussed how it is vitally important there be a focus on ensuring civilians are protected and humanitarian considerations.

Observers have noted a pattern of deadly aerial assaults by the Nigerian military that have killed civilians, which was the subject of a Reuters special report last year.

The U.S. faced a setback in its fight against militants in the Sahel when military officers toppled Niger's President Mohamed Bazoum, a key ally, in July last year.

The coup in Niger was one of a series of military takeovers or attempted power grabs that occurred in West and Central Africa over the past three years.

The instability has raised concern, particularly as juntas have cut ties with traditional Western allies such as the European Union and France, which withdrew thousands of troops from the Sahel last year.

Blinken, speaking in Abuja as part of a four-nation tour of Africa taking him to Cape Verde, Ivory Coast, Nigeria and Angola from Jan. 21-26, also said repatriation of capital and corruption were among challenges that need to be tackled for companies to invest in Nigeria.

© Reuters. US Secretary of State Antony Blinken attends the American Corner Lekki Ribbon Cutting at 21st Century Technologies in Lagos, Nigeria, January 24, 2024. ANDREW CABALLERO-REYNOLDS/Pool via REUTERS

Africa's biggest economy has about $7 billion in forex forwards that have matured, a major concern for investors as foreign currency shortages continue to weigh down the naira currency, despite assurances by the Central Bank of Nigeria (CBN) to clear the backlog.

So far, about $2 billion of the backlog across sectors such as manufacturing, aviation, and petroleum have been paid, CBN spokesperson Hakama Sidi Ali said in a statement.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.