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Thursday, February 29, 2024

ECOWAS sanctions hitting Niger’s economy hard as electricity company loses billions

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The authority blames the loss on ECOWAS’ against the country which affected electricity import from the Kainji Dam in Nigeria

By Bashir Aliyu

The main electricity distribution company in the Republic of Niger, NIGLEC has announced a massive loss of 15 billion CFA which is equivalent to over 34 billion Naira since Nigeria cut off electricity supply to the country as part of a sweeping sanctions imposed on the military authority of the country following a military coup that toppled the government of Bazoum Muhammad in July, 2023.

In a news conference in Niamey, the company warned of difficult situation this year if Nigeria does restore electricity to the landlocked country, the company’s total loss could amount to 40 billion CFA which is roughly equivalent to almost 93 billion naira in 2024.

The company said it has been using mega-generators which consumes a lot of fuel to supply power to some parts of the country since Nigeria cut off electricity import to the country.

Residents living in the cities of Niamey, Maradi and Zinder have power for about an hour at a time before it is switched off for up to five hours.

The company said in August, 2023 that the country relies on Nigeria for more than 70% of its electricity supplies.

It could be recalled that Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar said during the Davos Conference in Dubai that the sanctions against the military authorities of the Republic of Nigeria would remain in place until the ousted President Bazoum is released and allowed to leave the country. The minister also said that the coup in West Africa can no longer be tolerated.

Daily Review reports that Niger Republic has been economically isolated by the ECOWAS and other international partners, and the sanctions imposed by ECOWAS have worsened humanitarian crisis in the country, and there is no sign that ECOWAS will lift sanctions on the country.

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