Tag: President Bola Tinubu

  • Federal Government Awards N200 Million to Boost Nigerian AI and Tech Innovation

    Federal Government Awards N200 Million to Boost Nigerian AI and Tech Innovation

    The Federal Government of Nigeria, through the Ministry of Communications, Innovation, and Digital Economy, has awarded N200 million in grants to 55 Nigerian researchers and innovators. These funds were distributed under the Nigeria Artificial Intelligence Research Scheme (NAIRS) and the Fourth Industrial Revolution Technology Application (4IRTA) programs, aiming to foster technological advancements in various sectors.

    Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, shared the announcement on X, revealing the government’s strategic focus on leveraging these innovations to enhance economic productivity. The selected projects target key areas like healthcare, agriculture, finance, and education, with the goal of scaling successful solutions to benefit the broader economy.

    The NAIR scheme, launched last December, provided grants to 45 researchers working on AI projects designed to tackle pressing national challenges. In January, the 4IRTA program shortlisted 10 startups, each receiving up to N10 million to advance agricultural technologies, aligning with President Bola Tinubu’s mandate to expand agricultural output nationwide.

    In addition to these initiatives, the government is refining its National Artificial Intelligence Strategy, expected to become a guiding policy for AI development across the country. The AI Collective has also been established to foster collaboration on AI projects, hackathons, and seminars.

    Notably, the Nigerian government recently introduced a Large Language Model (LLM) to improve AI solutions in Africa. Developed by Awarri, in partnership with global tech firm DataDotOrg and local agencies, this tool will support low-resource languages and accented English, positioning Nigeria as a leader in AI innovation.

     

  • When Will the Storm Pass? Navigating Nigeria’s Economic Hardships Under Tinubu’s Leadership

    When Will the Storm Pass? Navigating Nigeria’s Economic Hardships Under Tinubu’s Leadership

    Nigerians are indeed groaning under the weight of unprecedented hardships, hoping for policies that address their daily struggles. President Tinubu faces the challenge of balancing economic reforms with citizens’ well-being—a delicate task that requires empathy and effective solutions, even as many are afraid of the future given his potential seven-year tenure.

    Economic Challenges and Initial Reforms

    When President Bola Tinubu assumed office, he inherited a nation in disarray with depleted foreign reserves and poorly managed sectors. Tinubu’s administration wasted no time implementing reforms, including the controversial fuel subsidy removal. While this decision is difficult for many to accept, it is essential to understand the reasoning behind it.

    To cushion the impact of these reforms, Tinubu’s government introduced several measures: a 35,000 naira wage award for workers, 100 billion naira for CNG fuel buses to reduce transportation costs, and financial support for small enterprises. Additionally, 150 billion naira in palliative loans to states aimed to mitigate the effects of fuel subsidy removal, and substantial funding was allocated for the cultivation of hectares of land. However, questions remain about the distribution and efficacy of these palliatives.

    Recent Disruptions and Public Sentiment

    Recent events, such as the national grid shutdown, have raised further concerns. Senator George Akume, Secretary to the Government of the Federation, labeled this act as treasonable, suggesting that labor’s actions could undermine the administration’s efforts to rebuild the economy. However, these disruptions highlight the ongoing struggles of Nigerians, many of whom face daily hardships and food insecurity.

    Setting a minimum wage is another critical issue. In 2019, the federal government, in collaboration with organized private sectors and labor, legislated a 30,000 naira minimum wage. This issue is on the exclusive legislative list, emphasizing the federal government’s role in recommending it to the national assembly.

    Economic Hardship Under Tinubu’s Leadership

    Since Tinubu’s inauguration on May 29, 2023, Nigerians have experienced significant economic challenges. The removal of petrol subsidies on his first day in office sent shockwaves through the economy, and the floating of the naira added to the pressure. These policies, though aimed at long-term economic stability, have led to immediate hardship.

    Headline inflation surged from 22.41% to 33.7% within a year, and the prices of essential goods skyrocketed. A can of sardines now costs N1,200, up from N300 a year ago. Peak milk, once N250, now sells for N700. Prices for spaghetti, beans, and frozen fish have similarly tripled. Although the GDP growth rate climbed from 2.51% to 2.98%, this statistical uptick does not reflect the reality faced by ordinary Nigerians, whose purchasing power has significantly dwindled.

    In a July 31 address, Tinubu acknowledged the hardships and pleaded for patience, arguing that his reforms were unavoidable. However, the lack of alternative policies exacerbated the pain, and the floating naira further strained the economy. The absence of robust safety nets for vulnerable populations has left many struggling to meet basic needs.

    Nigeria stands at a crossroads as Tinubu’s administration attempts to balance economic revival with human suffering. The question on many Nigerians’ minds is, “When will the storm of hardship pass under Tinubu’s leadership?” As the days turn into months, citizens hold on to the hope that the promised “Renewed Hope” will eventually outweigh the current economic challenges.

    A recent poll by the Africa Polling Institute (API) reveals that hunger, poverty, and dissatisfaction are major concerns under Tinubu’s administration. The purchasing power of average Nigerian workers has significantly decreased, discouraging investment and making it difficult for consumers to afford basic goods.

    In summary, Nigerians are enduring unprecedented hardships, hoping for policies that address their daily struggles. President Tinubu’s challenge is to balance economic reforms with citizens’ well-being. This situation requires empathy and effective solutions, as many Nigerians remain fearful of what the future holds under his leadership.

  • Changing national anthem won’t solve national challenges

    Changing national anthem won’t solve national challenges

    The assent of President Bola Tinubu to the recent bill passed by the National Assembly to revert to the old national anthem as the nation celebrates 25 years of uninterrupted democracy is a misplacement of priority. Nigeria under the current administration is encountering serious challenges in virtually all sectors of the economy. Nowadays, it is hard for citizens to feed due to the skyrocketing prices of food items. One may buy foodstuffs today but on returning the next day will most certainly buy the same foodstuffs at higher prices. If there is one thing the government should have prioritised, it should have been price stability. Sadly, the legislature prioritised the least of our worries by enacting a bill to return to the old national anthem, while the President assented to the bill, thereby making it a law.

    Due to the pressing economic situation in the country, many students in higher institutions of learning have abandoned their studies because of the rise in tuition fees and other expenses. Some of them, hitherto sponsoring themselves to schools, could no longer afford to do so again when the twin policies of Tinubu( fuel subsidy removal and exchange rate unification) were introduced. The ripple effects of these policies didn’t spare tuition fees of higher institutions of learning, and indigent students who couldn’t afford to pay the astronomical fees had no choice but to drop out. Pessimism is the general mood that has greeted the student loan scheme introduced by the Tinubu administration.

    Our President should address the major challenges bedevilling Nigerians. Unemployment and Unemployability among the young demographic are a threat to the nation’s peaceful coexistence and development. To have such a demographic not involved in production, innovation, or wealth creation is a waste of resources. Therefore, policies that will empower, create enormous jobs and help the young demographic become a strong player in the economy are of the essence.

    Insecurity, especially in the North-West region, is fuelling hunger and food inflation. It is already in the public domain that bandits impose levies on farmers in certain states to be able to access their farmlands and cultivate. In fact, in some villages, bandits stage attacks in broad daylight without let or hindrance. Some residents have dumped their businesses, houses, and belongings and migrated to neighbouring villages or urban cities for safety.In summary, what the government needs is the political will to put an end to the problems. This is possible as enough resources, manpower and other necessary inputs are available. One thing we need the Tinubu administration to do is to prioritise the welfare of Nigerians, irrespective of region, tribe or religion. This isn’t the time for anti-masses policies. Rather, the government should find ways to ameliorate the pains of the citizens. Reverting to the old national anthem isn’t a pressing need. Nigerians would like to see the executive and the legislature work harmoniously in revitalising our economy through the speedy passage of result-oriented bills by the legislature and the implementation of policies that are pro-growth and pro-development.

  • **Adebayo Disagrees with Atiku’s Call to Adopt Argentina’s Economic Model**

    **Adebayo Disagrees with Atiku’s Call to Adopt Argentina’s Economic Model**

    By Daniel Edu

    Adewole Adebayo, the Social Democratic Party (SDP) presidential candidate in the 2023 elections, has criticized former Vice President Atiku Abubakar’s call for President Bola Tinubu to adopt Argentina’s economic model to address Nigeria’s economic hardship. Adebayo argued that Atiku was misinformed and emphasized that comparing Nigeria’s situation with Argentina’s is incorrect. He stated that the economic hardship in Argentina is worse, with one month of 512 percent inflation, and they have experienced the worst economic performance since 1980. Adebayo urged Nigerians to be cautious about adopting policies that may not be suitable for the country.

  • **Tinubu Government Unveils Plan to Generate 100,000 Jobs for Nigerians**

    **Tinubu Government Unveils Plan to Generate 100,000 Jobs for Nigerians**

    By Daniel Edu

    The federal government led by President Bola Tinubu has announced a strategic initiative aimed at creating 100,000 jobs for Nigerians by May 29, 2024. The plan is part of a broader effort to generate 384,000 jobs within four years, focusing on Micro, Small, and Medium Enterprises (MSMEs) and job creation.

    Temitola Adekunle-Johnson, the Senior Special Assistant to the President on MSMEs and Job Creation, revealed this information during the inaugural Job Creation and MSME Quarterly Communications Forum, organized by the Job Creation & MSME Secretariat, Office of the Vice President.

    Adekunle-Johnson highlighted the collaborative approach with the Federal Ministry of Labour and Employment in realizing these employment goals. Additionally, he emphasized a partnership with Access Bank to support the initiative by providing funding for MSMEs.

    The Access Bank collaboration involves a commitment of N50 billion to support MSMEs, offering loans at a reduced interest rate of 15%, compared to the prevailing rates of 27 to 29%. The simplified collateral requirements aim to facilitate easier access to funds for MSMEs, particularly those seeking loans ranging from N1 million to N3 million.

    The government’s commitment to creating an enabling environment for MSMEs aligns with President Tinubu’s Renewed Hope Agenda, seeking to boost economic opportunities and empower small businesses across the country.

  • **Tinubu Set to Sign Executive Orders to Reduce Medicine Costs**

    **Tinubu Set to Sign Executive Orders to Reduce Medicine Costs**

    By Daniel Edu

    President Bola Tinubu is gearing up to sign executive orders aimed at lowering the prices of essential medicines in a move to alleviate the financial burden on Nigerians. The announcement was made by the Minister of State for Health, Tunji Alausa, and shared through a post on X by the Special Adviser to the President on Information and Strategy, Bayo Onanuga on Wednesday.

    The decision to regulate pharmaceutical prices through executive orders is a strategic response to the escalating prices of pharmaceutical products, posing a growing concern for many Nigerians. Minister Alausa emphasized that these executive orders are expected to offer immediate relief to citizens, addressing the pressing need for affordable healthcare products in the country.

    The Minister of Health, Ali Pate, highlighted the necessity of such measures following the withdrawal of major multinational pharmaceutical companies from the Nigerian market. This departure has worsened the challenge of accessing reasonably priced medicines, making government intervention crucial.

    Alausa stated, “And these executive orders will get to the President’s table in the next few days. And that is the short-term solution to bringing down the cost of high pharmaceuticals and medical consumables that the citizens are experiencing currently.”

    He also assured that the president is committed to swiftly resolving this issue and is actively working on medium and long-term solutions. Alausa encouraged Nigerians to be patient, assuring that the costs of pharmaceuticals will soon witness a significant decrease.

  • “Tinubu Meets 36 Governors: State Police, Security, and Food Crisis Discussed”

    “Tinubu Meets 36 Governors: State Police, Security, and Food Crisis Discussed”

    By Daniel Edu

    President Bola Tinubu held a meeting with the 36 state governors, Nigeria Governors Forum, Vice President Kashim Shettima, FCT Minister Nyesom Wike, and IGP Kayode Egbetokun to address national issues. Discussions centered around the potential establishment of state police to tackle increasing insecurity. The Minister of Information and National Orientation, Mohammed Idris, highlighted security improvements, focusing on strengthening forest rangers and exploring state police possibilities. The leaders also addressed the food crisis, directing collaboration between security agencies and governors to address hoarding concerns and boost agricultural investments. The goal is to achieve food self-sufficiency and create joint programs to address unemployment, providing opportunities for the youth population.

  • Tinubu Submits Supreme Court Justice Nominees to Senate for Approval

    Tinubu Submits Supreme Court Justice Nominees to Senate for Approval

    By Daniel Edu

    President Bola Tinubu has officially forwarded the names of eleven nominees for the Supreme Court of Nigeria to the Senate, seeking their confirmation through the required screening process. Senate President Godswill Akpabio disclosed this development on Wednesday as he read out the letter from President Tinubu during the Senate session in the Red Chamber.

  • Tinubu Commends Ijeoma Uchegbu, Nigerian President of Cambridge College

    Tinubu Commends Ijeoma Uchegbu, Nigerian President of Cambridge College

    By Daniel Edu

    President Bola Tinubu has applauded the election of Professor Ijeoma Uchegbu, a Nigerian-born expert in Pharmaceutical Nanoscience, as the President of Wolfson College, one of the 31 colleges affiliated with the University of Cambridge. The praise for Uchegbu’s achievement was conveyed in a statement by Ajuri Ngelale, Special Adviser to the President on Media and Publicity.

    Currently serving as a Professor of Pharmaceutical Nanoscience at University College London (UCL), Uchegbu is renowned for her groundbreaking work in nanoparticle drug delivery.

    In the statement, President Tinubu expressed admiration for Uchegbu’s exceptional accomplishments and commended her as an outstanding ambassador for Nigeria. He characterized Uchegbu as a shining example of the innovation, brilliance, and hard work consistently associated with the Nigerian people both within the country and abroad.

    Furthermore, Tinubu lauded Uchegbu for her unwavering commitment to advancing the frontiers of pharmaceutical science, recognizing her as a source of pride for Nigeria on the international stage.

  • “2024 Budget Advances as House of Representatives Approves Second Reading”

    “2024 Budget Advances as House of Representatives Approves Second Reading”

    By  Milcah   Tanimu

    The House of Representatives passed the 2024 budget, totaling N27.5 trillion, during its second reading on Thursday. During the debate on the budget’s general principles, House Leader Julius Ihonvbere commended President Bola Tinubu. He highlighted the substantial allocations for national security and education, expressing optimism that these allocations, if implemented, would enhance security and educational development in Nigeria.

    Details later…