Tag: President Bola Tinubu

  • Nigerians expectations high as ministerial screening begins

    Nigerians expectations high as ministerial screening begins

    As the National Assembly commences the screening of President Bola Tinubu’s ministerial nominees today, have expressed diverse expectations and concerns regarding the screening exercise to determine the suitability and competence of the nominees.

    Out of the 28 ministerial nominees, at least 15 have submitted their credentials, including the Women Leader of the All Progressive Congress, Betty Edu; Uju Ohaneye; Tunde Ojo; Abubakar Danladi, Uche Nnaji; and former Nexim Bank, Managing Director, Stella Okotette.

    Ahead of the screening exercise, Nigerians have spoken about the need to match the right candidate with the appropriate portfolio, saying it would ensure that individuals with the necessary skills, expertise, and experience are assigned to roles that align with their strengths, which will in turn, maximise competence and performance.

    According to Sections 144(5) and 147 of the 1999 Constitution, ministerial appointments must be in conformity with the provisions of Section 14(3) of the Constitution.

    The President is mandated to appoint at least one Minister from each state, ensuring that every state has representation in the federal cabinet.

    A public affairs analyst Alabi Ayodeji, believes that by not assigning portfolios to the nominees before the screening, President Tinubu missed an opportunity to set a standard.

    Ayodeji contends that this practice would have enabled a more robust evaluation and provided a basis for assessing the ministers’ performance at the end of their term.

    Similarly, Chukuka Okorie from Ebonyi state reasoned that appointing ministers to portfolios that align with their professional backgrounds, which would lead to progress and effective governance.

    “Firstly, the bane of the ministerial performance of the past years has been the lack of knowledge and commitment. If everyone is assigned the portfolio for which he or she is a professional, there will be progress.

    “Secondly, antecedents of an individual should be of great importance. That places such a person on a better footing to get it right. We should bury sentiment and put Nigeria first,” Okorie said.

    Nigerian journalist and television anchor Reuben Abati, raised concerns about past screening processes, asserting that many ministers who served under President Muhammadu Buhari were relatively unknown individuals who failed to make significant impacts during their tenure.

    Abati said “Most of the Ministers who served under him (President Buhari) were great unknowns. They stayed in office for eight years, sleep-walked through office, and on top of that they were decorated with national honours!”

    Decrying the seemingly superficial nature of the screening questions, which often bear no relevance to the eventual portfolios assigned to the ministers, he added: “Till date, the screening of ministerial nominees has been a complete charade. Questions that are posed to the persons being screened may have no bearing whatsoever on the portfolio that would be assigned to them eventually.

    “The Senate must not clear anybody for clearing sake. It must look out for nation-builders, and change-agents who can add value to the growth and development process. The screening must be thorough and meaningful,” Abati said.

    Nigerians believe that the issues facing the country are multifaceted and public trust in government can be bolstered by demonstrating that qualified individuals are appointed to key roles.

    Meanwhile, the Senate Leader Opeyemi Bamidele, has reassured Nigerians that the Senate will conduct a thorough scrutiny of the ministerial nominees.

    Bamidele explained: “Nigerians are expecting us to do a thorough screening. But take a bow and go is not an unparliamentary convention, it has become a practice all over the world.

    “That person must be a former member of the parliament who is well known to us. Somebody we have confidence in his ability to give Nigerians qualitative leadership”.

    According to the Chief of Staff to the President Femi Gbajabiamila, another set of 13 ministerial nominees is expected to be sent to the Senate for screening and confirmation in the coming days.

    The NewsGuru.com (TNG) notes that previous administrations had submitted ministerial lists in multiple batches.

    For instance, during Goodluck Jonathan’s tenure in 2011, the ministerial list was submitted in three batches, while President Muhammadu Buhari submitted his list in two batches in 2015.

     

  • President Tinubu appoints special investigator to probe CBN, other related entities

    President Tinubu appoints special investigator to probe CBN, other related entities

    In a move to strengthen the anti-corruption fight, President Bola Tinubu has appointed Jim Obazee as a Special Investigator to conduct a thorough probe into the activities of the Central Bank of Nigeria (CBN) and other related Government Business Entities (GBEs).

    The appointment, based on the constitutional mandate outlined in Section 15(5) of the Constitution of the Federal Republic of Nigeria (as amended), comes as part of President Tinubu’s commitment to ensuring probity and transparency in the nation’s financial institutions.

    The appointment, detailed in a letter dated 28th July, empowers Obazee to lead the investigation and report directly to the President, with the full terms of his engagement as a special investigator to be conveyed to him in due course.

    Obazee, a former chief executive officer of the Financial Reporting Council of Nigeria (FRCN), is tasked with taking swift action to fortify the integrity of key GBEs and to seal leakages within the CBN and its related counterparts.

    A comprehensive report on the present state of public wealth in the hands of corrupt individuals and establishments, whether public or private, is also mandated to be delivered by the special investigator.

    Additionally, the president has directed Obazee to conduct a thorough investigation into public wealth currently in the possession of corrupt individuals and establishments, whether in the private or public sector.

    To execute this mandate effectively, President Tinubu has instructed the Obazee to assemble a suitably experienced, competent, and capable team and to collaborate with relevant security and anti-corruption agencies to deliver on the assignment.

    TheNewsGuru.com (TNG) reports that the appointment comes in the wake of the suspension of the CBN boss, Godwin Emefiele since 9th June and his subsequent arrest at his Lagos residence by operatives of the State Security Service (SSS).

    The SSS has said it is prosecuting Emefiele for possession of an unregistered firearm, and despite being granted bail by the Federal High Court in Abuja, he remains in detention.

    The re-arrest of the suspended CBN boss on 25th July inside the the court premises led to a confrontation between officers of the State Security Service and those from the Nigerian Correctional Centre, who attempted to take custody of him.

  • President Tinubu holds ECOWAS summit to address Niger coup

    President Tinubu holds ECOWAS summit to address Niger coup

    Following the coup in Republic of Niger that has upended the constitutional political leadership in the West Africa country, Nigeria’s President Bola Tinubu, Chairman of the ECOWAS Authority of Heads of State and Government, has called for a special summit of regional leaders.

    The meeting will hold on Sunday, July 30th, in the Nigerian capital, Abuja.

    According to the Special Adviser to the President on Special Duties, Communications, and Strategy, Dele Alake, President Tinubu strongly condemned the current political situation in the neighbouring country and vowed that ECOWAS and the international community would do everything to defend democracy and ensure democratic governance continues to take firm root in the sub-region.

    The unfolding crisis in Niger has garnered international attention, with US Vice President Kamala Harris and United Nations Secretary-General Antonio Guterres reaching out to President Tinubu to express their firm support for ECOWAS’ stand and the Nigerian leader’s efforts to restore constitutional order in Niger.

    In separate telephone calls Thursday evening with President Tinubu, the leaders also commended the swift response of ECOWAS to the situation in Niger.

    The US highlighted the importance of democracy in Africa and the role Nigeria plays as a pivotal regional power and commended President Tinubu’s efforts to implement crucial reforms.

    The ECOWAS summit is expected to be a pivotal moment in addressing the coup and charting a course toward a peaceful resolution.

  • Tinubu engages global leaders after Niger coup

    Tinubu engages global leaders after Niger coup

    In the aftermath of the successful coup in the Republic of Niger, President Bola Tinubu of Nigeria has engaged in a series of high-level phone conversations with the United States and the United Nations.

    According to a statement by presidential adviser on special duties, communications and strategy, Dele Alake, both US Vice President Kamala Harris and UN Secretary-General Antonio Guterres commended President Tinubu, who is also the Chairman of ECOWAS Authority of Heads of State and Government, for leading the peace initiatives in Niger after soldiers from the Presidential Guard moved to depose President Mohamed Bazoum.

    Alake said both leaders expressed unwavering support for Nigeria’s efforts in restoring constitutional order in Niger and reaffirmed their commitment to democracy and stability in the West African sub-region.

    The US government highlighted the importance of democracy in Africa and the role Nigeria plays as a pivotal regional power and commended President Tinubu’s efforts to implement crucial reforms.

    Vice President Harris also stressed the importance of embracing energy transitions in Africa, adding that it will not only mitigate climate change impacts but also contribute to economic growth and social development.

    The conversation between President Tinubu and Vice President Harris also touched on Nigeria’s battle against terrorism, as she reiterated the United States’ commitment to assist Nigeria in combating security threats posed by extremist groups in the region.

    President Tinubu expressed deep appreciation for Harris’s support and encouragement regarding Nigeria’s economic reforms and shared his concerns about the developments in Niger Republic, which have potential implications for regional stability.

    President Tinubu stressed that ECOWAS under his leadership was committed to restoring constitutional order in Niger, and would leave no stone unturned in ensuring a peaceful resolution to the crisis.

    Tinubu also urged the United States to lead the way in attracting private sector investments to Nigeria, as the country seeks to diversify its economy and attract more foreign investments.

    In his conversation with UN Secretary-General, President Tinubu also conveyed his determination to find a peaceful resolution to the impasse in Niger and expressed hope that the situation could be reversed for the better.

  • Bayelsa APC elders kick against Jonathan’s alleged attempt to nominate minister

    Bayelsa APC elders kick against Jonathan’s alleged attempt to nominate minister

    Some aggrieved members of the All Progressives Congress, (APC) Bayelsa state chapter, have condemned alleged attempts by former President, Goodluck Jonathan to nominate the state’s ministerial slot in President Bola  Ahmed Tinubu’s  incoming cabinet.

    The aggrieved APC members operating under the auspices of the Bayelsa APC Elders Council wondered why Jonathan is lobbying to produce a minister after actively and openly supporting the candidate of his Peoples Democratic Party, PDP, Alh. Atiku Abubakar.

     

    Speaking in Yenagoa, Bayelsa State, on Tuesday, the Chairman of the council, Chief Michael Adomokeme said it was wrong for Jonathan to be trying to reap where he did not sow.

    He said Jonathan was threading the part of unfairness and injustice, insisting that his desperation could be likened to someone seeking to receive salaries from company A after working for company B.

    But Adomekeme expressed confidence that President Tinubu as a known rewarder of hard work would not allow a situation of ‘monkey work, baboon chop’.

    He said: “People shouldn’t try to reap where they have never sowed. Some of us have been here since the early days of this party, when it was considered to be a taboo just by being a member.

    “You all remember, APC in Bayelsa was called either Islamic party or Hausa party by these same people, I mean, Jonathan and his people. Fast forward to the 2023 elections, President Jonathan did everything to make sure we failed, but we didn’t as God would have it. What right has he to suddenly want to now nominate the minister from Bayelsa State?

    “He was president for six years, and he personally nominated dozens of Ministers. Why is he now so interested in just the single position we as a party in Bayelsa want to get? Is it to truncate the APC’s visible path to victory come November?

    “It is even an aberration and very demeaning for a former President to go cap-in-hand begging for a single ministerial slot. It ridicules and relegates the office of the President of the Federal Republic of Nigeria.

    “He has been dubbed a statesman and hero of democracy. Fine and good, let him continue being that and not being a statesman by day and a political lobbyist by night.”

  • Presidency unveils 20 nuggets of Tinubu’s transformative vision for Nigeria

    Presidency unveils 20 nuggets of Tinubu’s transformative vision for Nigeria

    The Secretary to the Government of the Federation (SGF) George Akume, has unveiled 20 key points outlining President Bola Tinubu’s ambitious vision for transforming Nigeria.

    Akume praised Tinubu’s preparedness and determination to bring about positive change in the nation, noting that he had “a well-prepared plan to transform Nigeria”.

    The SGF emphasized that the government was committed to addressing citizens’ concerns about fuel price increases and is working assiduously to normalize market forces and implement policies that improve the living conditions of citizens.

    He urged the public to understand the need for cooperation and support in harnessing the energy sector’s potential to drive economic growth, stressing that diversifying the economy and overcoming perennial challenges in the oil and gas industry are top priorities.

    Tinubu’s decisive action put an end to the regressive subsidy regime, which had cost the country billions of dollars.

    The government aims to unify exchange rates, deregulate PMS pricing, and enhance security in oil-producing states to secure Nigeria’s future.

    Aiming for a minimum daily crude production of 1.8 million barrels per day and 3.5b cubic feet gas by 2024, the administration is ambitious in revitalizing the oil sector.

    Additionally, plans for monetizing national oil assets by involving private investors are expected to boost revenue for national development.

    Akume reiterated the government is committed to restoring lost revenues, growing production and export capacity, and expanding power generation to drive economic growth and job creation.

    He said President Tinubu’s Plan for Nigeria, which is part of the part of the Renewed Hope Agenda, encompasses a holistic approach to tackle challenges and drive progress in various sectors.

    Below are the 20 nuggets released by the SGF outlining President Tinubu’s transformative vision for Nigeria:

    Nugget 1: As a Government, we have heard your cries about fuel price increases, and be rest assured, we are working round the clock to normalize and bring solutions that ease the pain. Our job is to give you the quality of life you deserve when you wake up. So far, we are on course.

    Nugget 2: To this end, we are already working out modalities to ensure market forces normalize pricing while we drive policies that better your lives and boost your earning power. We have a clear economic restoration plan, so I urge you to trust the process. #EconomicRestoration

    Nugget 3: We need your understanding, cooperation and buy-in to properly harness our energy sector potential to fuel economic growth. Because we intend to diversify our economy to improve your living conditions, we cannot continue to operate as we always did in the past.

    Nugget 4: At a mere 7%, Nigeria’s Revenue to GDP ratio (when we took over) was among the five lowest in the world. To reset this bleak reality, we must diversify our economy and address our perennial oil and gas challenges, else we will just be moving round and round in circles.

    Nugget 5: We needed a strong man to take charge and give direction. We have a course now. The President is determined to restore, grow, and sustain our oil production levels to deliver economic growth as our #RenewedHope Agenda envisioned. Despite a few challenges, we are on course

    Nugget 6: It’s very easy to ignore the fact that $70b worth of investments have been lost in the Oil sector since 2011. Insecurity has bedeviled us, with over $46b lost to crude oil theft between 2010 and 2020. These were issues no one was bold enough to address- till Asiwaju.

    Nugget 7: For this regressive subsidy regime, just ended, know that annual subsidy payments due to inefficiencies in the oil and gas value chain stood at a colossal $11b. It was not sustainable and someone had to act. The President was decisive in doing so & he told us from day one.

    Nugget 8: For our first 100 days in office, we had already decided to unify exchange rates, deregulate PMS pricing, and move to end insecurity in our oil-producing states by rejigging our entire security architecture. We’re taking strong measures to secure our nation’s future.

    Nugget 9: After this, by the end of 2024, we are targeting minimum daily production of 1.8mb/d of crude & 3.5bcfg, up from present levels. We’re ambitious and committed to sanitizing the oil sector and turning around our economy., building on the success of the PMB administration.

    Nugget 10: Our wider plan for the Oil & Gas Sector involves building 7 core development pillars to spur growth in the industry while driving industrialization and transiting to a Green Economy by 2060. @offcialabat is building a sustainable future for us & our children yet unborn.

    Nugget 11: First Pillar is to conserve our revenues and drive development. We already decided to eliminate the ₦8 trillion/yr payments in PMS subsidies and use that money to drive social investments, spur real sector and build infrastructure in our cities and rural areas.

    Nugget 12: Secondly, we intend to monetize our national oil assets by offering our stake in these assets to private investors. This will mean we have more revenues to drive growth and development in Nigeria. This is when our comatose refineries and @NNPC will take center stage.

    Nugget 13: We will restore lost revenues by boosting oil production to 2.5mmb/d and 5bcf/d for export & domestic use while ensuring we run @Nigerialng at full capacity. We’re working towards building a more prosperous Nigeria and repositioning ourselves as a global energy giant.

    Nugget 14: After we shore up revenues, we will grow production & export capacity to 4mb/d & 12bcf/d for domestic use and export by 2030. We will boost our power generation capacity to 25-30GW of output simultaneously, adding 12GW of stranded Gas-fired power.

    Nugget 15: Next will be the Industrialization phase- the 6th pillar, where we will set about diversifying revenue sources & boosting job creation. We will begin converting our Oil & Gas output into industrial products, feedstocks, & aggregate demanded in industrial clusters.

    Nugget 16: We’ll prioritize export-oriented projects to improve bankability and drive growth, to create a strong economy that benefits us all, increasing the earning power of Nigerians such that issues like fuel availability or the price no longer occupy national discourse

    Nugget 17: Our transition to a Green Economy will reduce Carbon emissions and incorporate Carbon Capture, Usage & storage (CCuS), and utilization in LNG projects to drive energy efficiency. We’re committed to a sustainable future. #GreenEconomy #SustainableFuture

    Nugget 18: The judiciary/legislature will lead the anti-corruption fight to ensure this is done, while freedom of information, security, and right of association will be enshrined in this dispensation. Together, we’ll create a better Nigeria. #BetterNigeria #StrongInstitutions

    Nugget 19: This is the Asiwaju Plan for Nigeria, as envisioned in our #RenewedHope Agenda. Deregulation is only the first part of this process/plan. Other health, education, agriculture, infrastructure, and more measures will come on stream soon. #HolisticSolution #NigeriaISBack

    Nugget 20: As we go about our lawful businesses this weekend, let us all mull over this message & pass it across to our neighbors, family & friends. I am a listening public servant, so please drop your observations & suggestions here- I am reading. Have a great weekend ahead.

  • Analysis: Tinubu’s poverty plan underestimated, inadequate

    Analysis: Tinubu’s poverty plan underestimated, inadequate

    Recent figures released by the National Social Safety-Net Coordinating Office (NASSCO) further raise doubts about the adequacy of the social welfare plan proposed by the Tinubu-led administration.

    According to NASSCO’s report, there are 15.7 million economically insecure households registered in the National Social Registry, which translates to over 60 million individuals facing economic hardship and deprivation.

    Recall that President Bola Tinubu had unveiled a social welfare plan funded through an $800 million World Bank loan, to mitigate the hardships caused by the removal of fuel subsidies, and had proposed a monthly handout of N8, 000 ($10) to 12 million poor households for six months.

    However, critics argue that the proposed plan inadequately addresses the magnitude of poverty, as it fails to recognize the full scale of poverty in the country and leaves a significant portion of the vulnerable population without any relief.

    As of November 2022, there were approximately 130 million Nigerians representing 63 per cent of the country’s population facing multidimensional poverty, according to the National Bureau of Statistics and this figure is believed to have increased since the removal of fuel subsidies.

    In the face of spiralling inflation and skyrocketing fuel prices which has affected the prices of commodities, the amount proposed for each household is also being widely criticised as grossly insufficient to meet their basic needs, let alone have any meaningful impact on their lives.

    However, President Tinubu expressed optimism about the potential impact of the welfare initiative, stating, “It is expected that the program will stimulate economic activities in the informal sector and improve nutrition, health, education, and human capital development of beneficiaries’ households.”

    But in reality, the escalating prices of goods and dwindling sales have compounded the financial struggles of ordinary citizens, making the proposed N8, 000 monthly stipend appear woefully insufficient to address their pressing needs.

    Some of the major factors identified to be contributing to food insecurity in Nigeria include poverty, climate change, conflict and insecurity, increasing population, poor policy implementation, inefficient agricultural practices, post-harvest losses and low budgetary allocation to agriculture, among others.

    The Chairman, Nigeria Labour Congress, Lagos chapter Funmi Sessi, said: “Looking at the money and the effect of the subsidy removal that has escalated the prices of everything in the market, I wonder what the N8,000 can do for a family in a month.

    “I wonder what it can buy and the services it can render for 30 days; N8,000 cannot take care of a family for a week; it is not possible; it is going to be like a drop of water in the ocean”.

    A viral video on Saturday showed some women in northern Nigeria chanting “Komi Yayi Sadar,” as they protested the high cost of living.

    President Tinubu has declared a state of emergency on food security and directed that all matters pertaining to food and water availability and affordability, as essential livelihood items, be included within the purview of the National Security Council.

    “We shall create and support a National Commodity Board that will review and continuously assess food prices as well as maintain a strategic food reserve that will be used as a price stabilisation mechanism for critical grains and other food items. Through this board, government will moderate spikes and dips in food prices,” the Nigerian government announced.

    The move is seen as part of an aggressive push to boost agricultural productivity and reduce the high prices of major staple foods in Nigeria.

    The development is in line with the government’s short, medium and long-term strategies towards addressing the challenges of food affordability and accessibility in the country.

    President Tinubu has also called for a review of the N8,000 monthly handouts in response to public criticism of the initiative.

  • Subsidy removal: Tinubu approves infrastructure fund to aid states

    Subsidy removal: Tinubu approves infrastructure fund to aid states

    President Bola Tinubu has approved the establishment of an Infrastructure Support Fund (ISF) for all 36 States in Nigeria as a measure to cushion the impact of petrol subsidy removal on citizens.

    This announcement was made during the monthly meeting of the Federation Account Allocation Committee (FAAC) held on Thursday in Abuja.

    President Tinubu’s approval of the Infrastructure Support Fund is aimed at empowering States to intervene and invest in crucial sectors, including Transportation, Agriculture, Health, Education, Power, and Water Resources.

    “The new Infrastructure Fund will enable the States to intervene and invest in the critical areas of Transportation, including farm-to-market road improvements; Agriculture, encompassing livestock and ranching solutions; Health, with a focus on basic healthcare; Education, especially basic education; Power and Water Resources, that will improve economic competitiveness, create jobs and deliver economic prosperity for Nigerians,” a statement signed by the Special Adviser to the President on Special Duties, Communications & Strategy, Dele Alake said.

    The ISF seeks to bolster economic competitiveness, generate job opportunities, and foster overall prosperity for the Nigerian populace.

    The FAAC also took steps to mitigate the impact of increased revenues resulting from the subsidy removal and exchange rate unification by saving a portion of the monthly distributable proceeds to address concerns related to money supply, inflation, and the exchange rate.

    “Out of the distributable revenue for June 2023, totaling 1.9 trillion Naira, N907 billion will be allocated among the three tiers of government, while N790 billion will be saved, and the remainder will be used for statutory deductions,” Alake said.

    These savings will complement the efforts of the ISF and other existing and planned fiscal measures, all aimed at ensuring that the subsidy removal translates into tangible improvements in the lives and living standards of Nigerians.

    Meanwhile, the Presidency has called for patience from Nigerians, urging citizens to exercise understanding as the government implements measures to alleviate the impact of the subsidy removal.

  • Fact Check: Did President Tinubu threaten anarchy if election results were upturned?

    Fact Check: Did President Tinubu threaten anarchy if election results were upturned?

    It has been claimed that President Bola Tinubu threatened there would be anarchy if election results were upturned.

    According to our investigation, the claim originated from the lawyers representing President Tinubu and Vice-President Kashim Shettima during the Presidential Election Petition Court proceedings.

    The lawyers, led by Wole Olanipekun, made final arguments defending the validity of President Tinubu’s election.

    Background:

    The case at the tribunal stems from the presidential election held in Nigeria on February 25. President Bola Tinubu, the All Progressives Congress (APC) candidate, was declared the winner by the Independent National Electoral Commission (INEC). However, the presidential candidates of the Labour Party (LP), Peter Obi, and Peoples Democratic Party (PDP), Atiku Abubakar, along with their parties, are challenging the validity of Tinubu’s election.

    They alleged that INEC did not comply substantially with the guidelines and regulations for the conduct of the 2023 general elections and relevant electoral laws and sought the nullification of Tinubu’s election on these grounds.

    The petitioners also raised concerns about Tinubu’s qualification, alleging a United States District Court judgment ordering his forfeiture of funds suspected to be proceeds of drug trafficking and argued that Tinubu did not score the required 25 per cent of the lawful votes in the Federal Capital Territory (FCT).

    The five-member panel had on July 5, given the respondents in the two separate petitions 10 days to file their written address, while the petitioners were given seven days to reply.

    Tinubu’s lawyers led by Olanipekun, asked the tribunal to consider the FCT as the 37th state, implying that Tinubu had met the requirement of scoring 25 per cent of lawful votes cast in the FCT.

    The lawyers further stated that any alternative interpretation of the constitutional provision would lead to absurdity, chaos, anarchy, and alteration of the legislature’s intention.

    “May we draw the attention of the court to the fact that there is no punctuation (comma) in the entire section 134(2)(b) of the constitution, particularly, immediately after the ‘States’ and the succeeding ‘and’ connecting the Federal Capital Territory with the States. In essence, the reading of the subsection has to be conjunctive and not disjunctive, as the Constitution clearly makes it so. Pressed further, by this constitutional imperative, the Federal Capital Territory, Abuja, is taken ‘as if’ it is the 37th State, under and by virtue of section 299 of the Constitution.

    “With much respect, any other interpretation different from this will lead to absurdity, chaos, anarchy and alteration of the very intention of the legislature,” Olanipekun said.

    However, while the lawyers emphasized the potential consequences of an alternative interpretation, TheNewsGuru.com (TNG) notes their statements were made within the legal context of the court proceedings and there is no direct statement or threat made by President Tinubu himself regarding the possibility of anarchy if election results were upturned.

    Verdict:

    The claim suggesting that President Tinubu threatened anarchy is misleading.

     

     

     

     

  • Woes, tears as Nigerians put Tinubu’s economic performance on a scale

    Woes, tears as Nigerians put Tinubu’s economic performance on a scale

    Nigeria, Africa’s largest economy, is undergoing significant economic reforms under the leadership of President Bola Tinubu.

    With the aim of revitalizing the nation’s economy and creating a prosperous future, these reforms have brought about both opportunities and challenges for ordinary Nigerians.

    One of the key reforms implemented by the government was the removal of fuel subsidies, aimed at reducing inefficiencies and redirecting funds towards critical sectors, which has led to a surge in the cost of living for many Nigerians.

    The prices of essential commodities, transportation, and utilities have skyrocketed, placing an enormous burden on individuals and households already grappling with economic hardships, particularly low-income workers.

    To worsen the situation, the harmonization of foreign exchange aimed at stabilising the currency and attracting foreign investments, resulted in higher prices of imported commodities.

    About a week ago, President Tinubu signed four Executive Orders that curb arbitrary taxation policies in Nigeria, in a bid to mitigate these economic hardships and create a more business-friendly environment.

    The President is also securing an $800 million credit facility from the World Bank to cushion the effect of the subsidy removal and has rolled out plans to distribute N8, 000 to 12 million households over the next six months, with a projected multiplier effect on about 60 million individuals.

    TheNewsGuru.com (TNG) recalls that the President’s campaign manifesto, dubbed “Renewed Hope,” outlined ambitious goals for industrial activity, youth empowerment, and overall economic development.

    With a focus on industrial activity, job creation, fiscal responsibility, and infrastructure development, the Tinubu’s vision seeks to drive sustainable economic growth and improve the standard of living for all Nigerians.

    Tinubu pointed out the correlation between infrastructure capacity and economic growth, promising that his administration would bring the National Infrastructure Policy to life, aligning it with the National Industrial Policy to maximize sector development and accelerate GDP growth.

    He outlined a prudent approach to foreign currency debt, stressing that his administration would prioritize naira-denominated expenditures and debt obligations, limiting foreign currency debts to essential expenditures that cannot be adequately addressed otherwise.

    “Under our government, our cities and towns will witness a level of industrial activity unprecedented in our nation’s history. In this, our youth shall become a leading catalyst driving the economic resurgence.

    “We will improve existing industries and sectors. We will be brave and innovative enough to see how new economic vistas powered by today’s technology can create jobs and provide goods and services that will propel us toward greater prosperity and development.

    “We will build an economy that produces more of the everyday items, both agricultural and manufactured goods, that define an individual’s and a nation’s standard of living.

    “Our economic policies shall be guided by our desire for a stronger, more stable Naira founded upon a vibrant and productive real economy. Our administration will engage in extraordinary prudence in contracting debt in foreign currency. Our policy will be such that new foreign currency debt obligations will be linked to projects that generate cash flows from which the debt can be repaid.

    “Where possible, we shall limit such foreign currency-denominated debts to essential expenditures that cannot be adequately addressed by either naira-denominated expenditures or debt obligations,” President Tinubu’s manifesto stated.

    However, despite promises of youth empowerment and support for new businesses, access to credit and finance remains a significant hurdle for aspiring entrepreneurs and small business owners.

    Limited access to capital, stringent loan requirements, and high interest rates make it difficult for individuals to start or expand their ventures, hindering economic progress and stifling job creation.

    Nigeria’s infrastructure deficit also continues to pose challenges to its citizens. Poor road conditions, inadequate electricity supply, and insufficient healthcare facilities adversely affect the quality of life for many Nigerians.

    Notwithstanding, Nigerians retain hope for a brighter future and anticipate improved access to basic services and enhanced living standards.