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Tag: Bola Tinubu

  • Parents’ Association Appeals to Bola Tinubu to Prevent Further Fuel Price Hike

    Parents’ Association Appeals to Bola Tinubu to Prevent Further Fuel Price Hike

    By Daniel Edu

    The National Parent Teacher Association of Nigeria (NAPTAN) has implored President Bola Tinubu to intervene and take necessary actions to prevent a significant increase in petrol prices.

    Mr. Adeolu Ogunbanjo, NAPTAN’s National Deputy President, conveyed the association’s appeal following an emergency meeting in Lagos. The move is in response to concerns about the potential escalation of petrol prices, which could exacerbate economic hardships for Nigerian parents.

    Tinubu had earlier addressed the nation in July, stating that the government was closely monitoring the impact of exchange rates and inflation on gasoline prices. He pledged to intervene if deemed necessary.

    Oil marketers recently predicted an imminent rise in fuel prices due to the depreciation of the naira against the dollar. According to these marketers, as long as the dollar continues to strengthen against the naira in the foreign exchange market, fuel prices in Nigeria are likely to keep increasing.

    To address this, Ogunbanjo urged the president to provide a concessionary exchange rate for petroleum importers. This action, he believes, could create a favorable environment that maintains the current fuel price in the country.

    Ogunbanjo emphasized that while the removal of petroleum subsidies aligns with their understanding, the simultaneous unification of the naira’s exchange rate is contributing to the economic hardship. The call for a concession rate on the dollar to benefit fuel importers is driven by the need to alleviate the financial burden on parents, especially with the upcoming payment of school fees in September.

    The association expressed their plea to Tinubu to stabilize fuel prices and maintain the current pump price to prevent additional hardships for Nigerian families.

  • Federal Government Set to Clear N187.32bn Contractors’ Debt by November 2023

    Federal Government Set to Clear N187.32bn Contractors’ Debt by November 2023

    By Daniel Edu

    In the upcoming administration of President Bola Tinubu, it appears that an approximate sum of N187.32 billion will be allocated to resolving outstanding debts owed to local contractors within this fiscal year, as per investigations conducted by The PUNCH.

    These debts have been outlined as promissory notes in a document titled ‘Schedule of promissory notes issued by category as at September 30, 2022,’ issued by the Debt Management Office.

    A promissory note, as explained by Investopedia.com, is a financial instrument that entails a written commitment from one party (the note’s issuer or maker) to pay a specific sum of money to another party (the note’s payee), either upon request or at a predetermined future date.

    Section 4 of the Government Promissory Notes Act stipulates that these government promissory notes are funded from the collective revenue and assets of the federation.

    The section reads, “The principal sums and interest represented or secured by any government promissory notes are hereby charged upon and shall be payable out of the general revenue and assets of the federation.”

    Two such promissory notes have been released to resolve the debts owed to local contractors. The initial note was published on November 23, 2020, while the second was released on July 12, 2021.

    The repayment of these debts will occur in three currencies: the Nigerian naira, the US dollar, and the euro, in accordance with a Central Bank of Nigeria (CBN) document.

    The liabilities are divided as follows: Naira liability stands at N57.83 billion, dollar liability is $26.48 million (equivalent to N19.78 billion), and euro liability is €133.76 million (equivalent to N109.71 billion).

    Both promissory notes are slated for clearance by November 23, 2023.

    The Federal Government holds a debt of approximately N11.16 trillion towards contractors engaged in the construction of various highways across the nation, along with certificates of project completion.

  • VON DG Appeals to Tinubu: “Retain El-Rufai, Don’t Dismiss Him”

    VON DG Appeals to Tinubu: “Retain El-Rufai, Don’t Dismiss Him”

    By Daniel Edu

    Osita Okechukwu, a foundational member of the All Progressives Congress (APC) and Director General of the Voice of Nigeria (VON), has made a plea to President Bola Tinubu not to remove Mallam Nasir El-Rufai, the former governor of Kaduna State, from a potential ministerial position.

    Although Tinubu had put forward El-Rufai’s name for a ministerial role, the Senate reportedly declined to confirm his nomination due to concerns raised in a security report.

    In a statement provided to journalists in Abuja on Sunday, Okechukwu stressed the importance of El-Rufai’s presence in Tinubu’s administration, particularly in relation to the power sector.

    Okechukwu stated, “The exceptional qualities that El-Rufai brings are something that we shouldn’t let go to waste. It’s in the best interest of both our nation and President Tinubu not to overlook this remarkable individual. Additionally, our political party, the APC, will reap significant benefits from a team of accomplished ministers as we approach the 2027 general elections.”

    He continued, “Removing him from the equation could potentially result in the exclusion of more Nigerians from accessing reliable electricity. Our country is already witnessing the exclusion of affluent citizens due to inconsistent power supply, and many underprivileged citizens are struggling with high tariffs. We require someone as distinct as El-Rufai to address these issues.”

    Okechukwu clarified, “I am not advocating for Mallam Nasir El-Rufai blindly, nor am I suggesting that he is irreplaceable. However, given his track record as a proactive leader, he possesses the necessary skills to not only revolutionize our power sector but also to cleanse the toxic aspects of the energy industry.”

  • Ex-Governors’ Nominations in Tinubu’s Cabinet: Allegations of Liabilities by Shehu Sani

    Ex-Governors’ Nominations in Tinubu’s Cabinet: Allegations of Liabilities by Shehu Sani

    In a recent turn of events, Shehu Sani, the former representative of Kaduna Central, has come forward with allegations regarding the ministerial appointments made by President Bola Tinubu. The inclusion of nine former governors in the list of ministerial nominees sent to the Senate for screening and confirmation has raised eyebrows and triggered a wave of mixed reactions across Nigeria.

    Sani, expressing his dissatisfaction with this development, voiced his concerns on social media. Taking to his Twitter account on Monday, he condemned Tinubu’s decision, offering a thought-provoking perspective. He stated, “The technocrats comprising Tinubu’s Government symbolize his assets, whereas the former governors within his cabinet epitomize his liabilities.”

    This revelation has ignited discussions among political analysts and citizens alike. Sani’s assertion sheds light on the perceived strategic calculations that might underlie Tinubu’s choices for his potential cabinet members. With the public’s attention fixed on this unfolding scenario, the implications of having experienced ex-governors in key ministerial roles within Tinubu’s administration are being closely scrutinized.

    As Nigeria awaits further developments and the outcome of the Senate’s screening process, the tension between the representation of assets and liabilities in Tinubu’s government continues to stir debates within the nation’s political landscape.

  • “President Tinubu Launches Ambitious 350MW Power Project, Pledges Stable Electricity for All 💡”

    “President Tinubu Launches Ambitious 350MW Power Project, Pledges Stable Electricity for All 💡”

    By Daniel Edu

    President Bola Tinubu has issued a directive to the Nigerian National Petroleum Company Limited (NNPCL) to complete the construction of a 350-megawatt power project in the Federal Capital Territory within three years. The project is part of the planned 7,350MW Gwagwalada Independent Power Plant, which is considered crucial for Nigeria’s economic growth.

    During the Presidential Groundbreaking ceremony for the 350MW project in Abuja, Tinubu emphasized the importance of a strong power sector to drive the country’s economy. He stated that his administration’s first bold step was to establish this power plant, and he urged NNPCL and other relevant agencies to ensure that the project is completed within the stipulated timeframe.

    Tinubu reaffirmed his commitment to improving the lives of Nigerians and vowed to remove power distribution bottlenecks, making electricity stable and accessible for all. He mentioned that during his presidential campaign, he promised to bring positive change to Nigerians, and the early commencement of this project demonstrated the administration’s determination to reduce power-related hardships.

    Mele Kyari, the Group Chief Executive Officer of NNPCL, highlighted the significant natural gas resources available in Nigeria, with over 209 trillion cubic feet of proven gas reserves and a potential reserve of over 600TCF. He emphasized that this power project would allow the country to monetize its abundant natural gas resources, providing greater access to energy to support economic growth, industrialization, and job creation nationwide.

  • Sources Indicate Ministerial List Delayed Due to Tinubu’s Dilemma Between Ganduje and Al-Makura

    Sources Indicate Ministerial List Delayed Due to Tinubu’s Dilemma Between Ganduje and Al-Makura

    By Daniel Edu

    President Bola Tinubu is reportedly facing a tough decision regarding the appointment of the national chairman of the All Progressives Congress (APC). This predicament is believed to be one of the reasons for the delay in releasing the President’s ministerial list.

    According to a source cited by Vanguard, the final list was initially scheduled to be submitted to the Senate last week. However, opposition has arisen against the President’s preferred candidate, former Kano State governor Abdullahi Ganduje, for the position of national chairman, replacing Senator Abdullahi Adamu.

    This situation is causing a crisis within the party, as some APC stalwarts argue that Senator Tanko Al-Makura, the former governor of Nasarawa State from the North-Central region, would be a better fit for the role. They point to Al-Makura’s calm demeanor as an advantage over Ganduje.

    The delay in submitting the ministerial list is, in part, attributed to the ongoing political intrigues and maneuvering surrounding the potential selection of Dr. Umaru Ganduje as the APC’s national chairman. Many party leaders are reportedly not in favor of Ganduje due to corruption allegations against him, which they believe could tarnish the party’s image.

    According to the source, there are differing opinions among party leaders, with some advocating for Al-Makura to replace Senator Abdullahi Adamu. Additionally, some are supporting former Senate spokesman, Senator Ajibola Basiru, for the position of Secretary of the party. Both Al-Makura and Basiru hail from states previously represented by ousted officials, and they seem to have garnered support from influential quarters.

    The situation has led to various meetings and discussions with Asiwaju (Tinubu) to express the concerns about Ganduje’s potential appointment. The ultimate decision lies with him, and the party leaders are hopeful for a resolution that will strengthen the party’s position and image moving forward. However, until the matter is settled, the delay in releasing the ministerial list persists, with last-minute changes still possible.

  • Emefiele’s Legal Team Fires Back at DSS Regarding Terrorist Label

    Emefiele’s Legal Team Fires Back at DSS Regarding Terrorist Label

    Lawyers Counter DSS’s Terrorist Label, Call for Suspension of Agency Head

    A group of lawyers, operating under the name Lawyers in Defence of Democracy (LDD), has strongly criticized the Department of State Services (DSS) for alleging that lawyers representing the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in court, are members of the Indigenous People of Biafra (IPOB).

    The DSS had tweeted a suggestion that one of the lawyers, Maxwell Okpara, defending Emefiele, could be affiliated with IPOB, a banned group in Nigeria.

    The Coalition of Lawyers condemned the DSS’s statement as provocative and anti-Igbo, emphasizing that it was an insult to the judiciary. They demanded the immediate suspension or removal of the DSS Director-General, accusing the agency of ethnic profiling and conducting a personal vendetta against Emefiele.

    The lawyers questioned how the DSS could draw conclusions about their alleged IPOB membership and asserted that the DSS’s remarks were intended to silence Emefiele’s legal team, as they lacked substantial evidence against him.

    They further criticized the DSS for its history of disregarding court orders and called on President Bola Tinubu to demonstrate that the DSS is an agency serving the nation, not just the political elite, by taking decisive action and dismissing the Director-General, Yusuf Bichi.

    The lawyers concluded by stating that they would not tolerate any disrespect towards the judiciary and emphasized that the international community was closely observing the situation.

  • Tinubu Declares State of Emergency on Food Security, Plans 500,000 Hectares of Farmland

    Tinubu Declares State of Emergency on Food Security, Plans 500,000 Hectares of Farmland

    In response to the increasing food inflation following the removal of fuel subsidy, President Bola Tinubu has declared a state of emergency on food security in Nigeria. He has also directed that all matters related to food and water availability and affordability be included in the purview of the National Security Council.

    To address the situation, immediate measures will be taken, including the release of fertilizers and grains to farmers and households to mitigate the effects of the subsidy removal. This was revealed by Dele Alake, the Special Adviser to the President on Special Duties, Communications, and Strategy, after consultations with key stakeholders in the agricultural sector at the Presidential Villa in Abuja.

    Alake emphasized that while food availability is not a problem, affordability has become a major issue for many Nigerians. This has resulted in a significant drop in demand, undermining the entire agriculture and food value chain. The government intends to use some of the savings from the fuel subsidy removal to revamp the agricultural sector, with a focus on doubling the percentage of employment in agriculture from 35.21% to about 70% in the long term.

    Immediate interventions will include the release of fertilizers and grains, and a synergy between the Ministry of Agriculture and the Ministry of Water Resources to ensure adequate irrigation of farmlands and year-round food production. The government plans to utilize 11 out of Nigeria’s 12 river basins for irrigation schemes, guaranteeing continuous farming production throughout the year.

    To regulate food prices, the government will establish a National Commodity Board that will review and assess food prices while maintaining a strategic food reserve. This board will help stabilize critical grain prices and moderate fluctuations. The government will also engage its security architecture to protect farms and farmers, ensuring their safety and enabling them to return to their farmlands without fear of attacks.

    Regarding livestock farming, the government will partner with states to create ranches and grazing reserves. The Federal Government will cover the cost of land for these ranches, and land banks nationwide, totaling 500,000 hectares, will be activated to increase the availability of arable land for farming.

    Anite, a member of the Presidential Advisory Council, clarified that the distribution of grains to farmers and households would be free of charge, funded by the savings from the fuel subsidy removal. The Central Bank of Nigeria has also advised middlemen withholding grains to release their supplies, as prices are expected to fall when the government begins distributing grains.

  • Nigerian Presidents who have chaired ECOWAS

    Nigerian Presidents who have chaired ECOWAS

    President Bola Tinubu was elected Chairman of the Economic Community of West African States Authority of the Heads of State and Government over the weekend.

    Tinubu, who attended the forum of West African leaders for the first time at the 63rd Ordinary Session was formally elected as the Chairman In Bissau, the capital of Guinea-Bissau.

    Tinubu succeeded President Umaro Sissoco Embaló of Guinea-Bissau as the leader of the sub-regional political and economic body.

    Tinubu will be responsible for guiding the ECOWAS member states toward economic growth, political stability, and cooperation in his capacity as chairman.

    However, Tinubu is not the first Nigerian president to emerge as chairman of the sub-regional African body.

    Here is a list of Nigerian presidents who have chaired ECOWAS and the periods they led the body:

    1: Olusegun Obasanjo – (1978–1979).

    2: Muhammadu Buhari + (1985 – 27 August 1985).

    3: Ibrahim Babangida – (27 August 1985 – 1989).

    4: Sani Abacha – (27 July 1996 – 8 June 1998).

    5: Abdulsalami Abubakar – (9 June 1998 – 1999).

    6: Umaru Musa Yar’Adua – (19 December 2008 – 18 February 2010).

    7: Goodluck Jonathan – (18 February 2010 – 17 February 2012).

    8: Muhammadu Buhari – (31 July 2018 – 29 June 2019).

    9: Bola Ahmed Tinubu of Nigeria (9 July 2023 till date).

  • Bola Tinubu Becomes Chairman ECOWAS of Head of States

    Bola Tinubu Becomes Chairman ECOWAS of Head of States

    By Joyce Remi-Babayeju

    Nigerian President Bola Ahmed Tinubu is now the Chairman of the ECOWAS Authority of Heads of States and Government.

    President Tinubu was elected today at the Sixty-Third Ordinary Session of the Authority held on July 09, 2022, in Bissau, Guinea-Bissau.

    President Tinubu takes over from H. E Umaro Sissoco Embaló, President of The Republic of Guinea-Bissau.

    The Authority of ECOWAS Heads of States and Governments met to discus the security and political situations in the Region, among other issues.