International
BREAKING: ECOWAS to Lift Economic Sanctions On Niger, Mali, Guinea
by Wale Ewedimi
The Economic Community of West African States (ECOWAS) has resolved to lift some sanctions on Niger Republic, Mali and Guinea.
The resolution was taken at the extraordinary summit on the peace, political and security situation in the ECOWAS sub-region in Abuja on Saturday.
While the regional bloc said the political and targeted sanctions on Niger Republic remain, it lifted some financial and economic sanctions on Guinea and some targeted sanctions on Mali.
Meanwhile, President Bola Tinubu called for the suspension of economic sanctions imposed on Niger, Mali, Burkina Faso, and Guinea by ECOWAS.
President Tinubu, who is the Chairman of the Authority of Heads of State and Government of the organization made the call at the Extra-ordinary Summit of ECOWAS in Abuja on Saturday, saying that: “Everything we did was in hopes of persuading our brothers that there existed a better path, a path that would lead to genuine improvement of their people’s welfare through democratic good governance. And this was a path each of our nations had solemnly agreed with one another pursuant to formal regional treaty and protocol.
“However, the sanctions that we contemplated might help lead our brothers to the negotiating table have become a harsh stumbling block. In my mind and heart, that which is hurtful yet ineffective serves no good purpose and should be abandoned.
“ECOWAS was established for the unassailable objective of improving the lives of the people of this region through fraternal cooperation among all member states. This edifice was cemented on the strong foundation and apt conviction that, united as one, we can be the true masters of our destiny.”
The President further explained that ECOWAS took the steps it did based on the regional ideals of security, social stability; democratic governance, political freedom, broad-based prosperity, and sustainable economic development through fair opportunity for each and every one in West Africa.
He said neither hatred nor hidden motive influenced the steps taken and that there was never any intention to douse or undermine the legitimate political aspirations of any member state or to advance the interests of any outside party.
In calling for the suspension of sanctions, President Tinubu stressed that: “We must take note of the approach of the holy month of Ramadan and of Lent. Whether you pray in the mosque or in the church, this represents a time for compassion, hope, and harmony. It is a time that we must not only seek God but also a closer relationship with brother and neighbour.
“In the Spirit of the holy month and of the Lenten period, and with hearts bestirred by goodwill towards all our people, let us extend a hand as brothers and friends to those in Niger, Mali, Burkina Faso, and Guinea.
“What I suggest in real and practical terms is that we, my colleagues and fellow heads of state in ECOWAS, indefinitely suspend economic sanctions against Niger, Mali, Guinea and Burkina Faso and against the leadership of the military authorities in those nations.”
The President asked that ECOWAS facilitate the unfettered flow of foodstuffs, medicines and other humanitarian items to the people of these nations, especially to the most vulnerable, adding that for Nigeria, this will also mean the prompt resumption of export of electric power to Niger.
“In this vein, suspension of sanctions is an important but initial step. What we seek is more than the breaking of the diplomatic logjam. We must use this very moment when things seem tense and progress unavailing, to forge greater cooperation within our community.
“We not only reach out to our brothers. Today, we say unto them — let us begin to work more earnestly together for the economic development of our people and towards confronting those modern challenges that respect no borders or boundaries. Challenges ranging from climate change to violent extremism to illegal pilfering of our precious natural resources require that we join together in progress or we fail separately.
“As leaders of ECOWAS, we have accepted the honour and duty to draft the history of the region and its people during our tenure in office. We have also accepted the honour and duty to reach out to our brothers, letting them know this regional home belongs to us all. I shall do my utmost in this regard. I humbly beseech that you do the same.
“For these reasons, we must suspend sanctions and return to brotherly dialogue. I call on the leadership in Burkina Faso, Guinea, Mali, and Niger to embrace the hand extended,” the President stated.
International
NASA’s Satellite Crashing Back to Earth After 14 Years in Orbit
The spacecraft weighting 1,300 pound is called Van Allen Probe A, has been orbiting the planet for nearly 14 years and is now predicted to re-enter Earth’s atmosphere within the next day or two.
Photo: X
A satellite launched by NASA more than a decade ago is expected to return to Earth soon.
The spacecraft weighting 1,300 pound is called Van Allen Probe A, has been orbiting the planet for nearly 14 years and is now predicted to re-enter Earth’s atmosphere within the next day or two.
The space agency earlier estimated that the probe would begin re-entry around 7:45 p.m. ET on Tuesday (March 10), though the timing could vary by as much as 24 hours.
According to NASA, the risk of damage on the ground is extremely low.
Most of the more than 600-kg spacecraft is expected to burn up due to intense heat while passing through Earth’s atmosphere.
However, some small components may survive the re-entry. Scientists estimate that the chance of debris harming a person is about one in 4,200, which the agency describes as minimal.
International
FAO Food Price Index rises in February for first time in five months
International quotations for skim and whole milk powders increased notably amid strengthening import demand from North Africa, the Near East and Southeast Asia, while world butter prices registered their first monthly rise since reaching an all-time high in June 2025.
The Food and Agriculture Organization of the United Nations (FAO) reported that the world food commodity prices rose in February, ending a five-month downward trend, as higher quotations for wheat, most vegetable oils and several meat types outweighed declines in cheese and sugar prices.
According to the new update released by the global food body, the he FAO Food Price Index, which tracks monthly changes in the international prices of a basket of globally-traded food commodities, averaged 125.3 points in February, up 0.9 percent from its revised January level while still 1.0 percent below its level a year earlier.
The FAO Cereal Price Index increased by 1.1 percent from January, driven primarily by higher world wheat prices reflecting reports of frosts in parts of Europe and the United States of America as well as ongoing logistical disruptions within the Russian Federation and the wider Black Sea region. International coarse grain prices also posted a modest increase, while the FAO All Rice Price Index edged up by 0.4 percent from the previous month, supported by sustained demand for basmati and Japonica varieties.The FAO Vegetable Oil Price Index increased by 3.3 percent in February, reaching its highest level since June 2022.
International palm oil prices rose amid firm global import demand and seasonally lower outputs in Southeast Asia, while world soyoil prices increased on expectations of supportive biofuel policy measures in the United States of America.
The FAO Vegetable Oil Price Index increased by 3.3 percent in February, reaching its highest level since June 2022.
Rapeseed oil prices rebounded, driven by prospects of stronger import demand for Canadian supplies. By contrast, sunflower oil prices eased moderately, partly due to rising export supplies from Argentina.
The FAO Meat Price Index increased by 0.8 percent from January, as ovine meat prices reached an all-time high and bovine meat prices rose on the back of strong import demand from China and the United States of America. Prices of pig and poultry meats edged up slightly from January.
The FAO Dairy Price Index declined by 1.2 percent, driven primarily by lower cheese prices.
International quotations for skim and whole milk powders increased notably amid strengthening import demand from North Africa, the Near East and Southeast Asia, while world butter prices registered their first monthly rise since reaching an all-time high in June 2025.
The FAO Sugar Price Index was down by 4.1 percent from January and by as much as 27.3 percent compared with February 2025 amid expectations of ample global supplies in the current season.
International
Trump says U.S.will build $300 billion new refinery backed by India’s Reliance Industries
The new refinery, located at the port of Brownsville in Texas, will “strengthen our National Security, boost American Energy production, deliver Billions of Dollars in Economic impact, and will be THE CLEANEST REFINERY IN THE WORLD,” Trump said.
° U.S. President Donald Trump takes a question as he speaks during a press conference at Trump National Doral Miami in Miami, Florida, U.S., March 9, 2026.Kevin Lamarque | Reuters
President Donald Trump said that the U.S. will get its first oil refinery in 50 years, funded by investments from Indian billionaire Mukesh Ambani’s Reliance Industries.
“THIS IS A HISTORIC $300 BILLION DOLLAR DEAL — THE BIGGEST IN U.S. HISTORY,” Trump said in a post on Truth Social, on Tuesday.
He thanked India’s largest privately held energy company, Reliance Industries, “for this tremendous Investment.”
Reliance owns the world’s largest oil refinery in Jamnagar, India, and has a market capitalization of $206 billion, according to LSEG data.
The new refinery, located at the port of Brownsville in Texas, will “strengthen our National Security, boost American Energy production, deliver Billions of Dollars in Economic impact, and will be THE CLEANEST REFINERY IN THE WORLD,” Trump said.
The refinery is designed to process 100% American shale oil and is being developed by America First Refining.
Source: CNBC
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