Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain
A clamour for restructuring particularly resonating in the southern part of Nigeria had forced the ruling All Progressives Congress to set up a committee to advise it on the hot political topic.
At the North-central zonal consultative forum organised by the APC committee in Jos on Thursday, Governor Tanko Al-Makura of Nasarawa State said his people would oppose any restructuring that would draw back Nigeria’s development.
“Restructuring means different things to different people,” he said in a preface to his remarks.
“Some people are thinking restructuring is creation of local governments and states. If that is what it means, I don’t support it.”
However, he said he would endorse the process if the intention is to strengthen Nigeria’s federal system.
“Restructuring should be true federalism where our people will gain the value of democracy. If that is what it means, I am in support.”
On local government autonomy, Governor Al-Makura suggested that Nigeria should return to native authorities, the third tier of government in the defunct Northern Region of Nigeria.
Expressing the position of Plateau State, the representative of the state government at the forum, John Wade, said the state was in full support of restructuring of Nigeria.
According to Mr. Wade, the potential gains from restructuring Nigeria are enormous, stressing that the exercise would address issues hampering the development of the country.
The APC legal Adviser, Omale Omale, who represented Benue State, said restructuring was necessary and offers hope for national development.
Mr. Omale said the process should deliver devolution of power and land reform.
The Vice President of the APC for the North-central zone, Idris Zakare, said the public hearing was organized by the party towards achieving good governance in Nigeria.
The event was attended by several traditional rulers, opinion leaders, APC stalwarts and civil society groups from Plateau, Benue and Nasarawa states.
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