NewStats: 3,264,127 , 8,182,717 topics. Date: Monday, 09 June 2025 at 07:39 PM 1m2d28

The Presidency, on Monday, reacted to the criticism of former Labour Party’s presidential candidate, Peter Obi, describing him as a ‘shallow’ personality who is not well grounded in the issues of economics and governance.

Special Adviser to the President on Policy Communication, Daniel Bwala, disclosed this in a statement posted via his official X .

While stating that he was surprised Obi could agree with the economic policies of President Bola Tinubu, especially on fuel subsidy removal and the unification of foreign exchange, Bwala emphasised that it was obvious the former Anambra governor and other opposition figures were simply after taking over power, all the while.

He wrote, “Is anybody watching Peter Obi on Arise TV?

undefined0:00 / 0:00

Nollywood Stars Lateef Adedimeji and Femi Branch Grace Ojude Oba 20250:00 / 0:12

” He agreed with our policy of removal of subsidy and unification of the foreign exchange; he claimed he would have done it better than us in an ‘organised manner’

“He was asked what the ‘organised manner ‘ is.’ He played with words, yet to arrive at agreeing with us.

“Anybody with a rational mind knows these guys are just looking to grab power, but they don’t have any alternative agenda.


“He seems to have very shallow knowledge of economics and governance.

“, this is even an interview anchored by a member of his Obidient movement.

“That’s why you don’t hear ‘I put it to you’ and no barking like a rottweiler; Yet ‘if it didn’t Dey it didn’t Dey.”


On Monday, Obi challenged Tinubu to for how his istration expended the billions of revenue reportedly saved from the removal of fuel subsidy.

He made the demand when he was featured as a guest on Arise Television.

While itting that there was nothing wrong with the removal of the controversial petroleum subsidy and floating of the naira, Obi conceded that he would have done the same if he were to be elected president.

The former Anambra governor, however, argued that he would have implemented the policies gradually and in a more ‘organised’ way than the ‘haphazard’ way the Federal Government went about it.


Obi said, “I have consistently maintained that I would have removed the fuel subsidy.

“If you go to my manifesto, it is there and the steps I would have taken in an organised manner.

“There is nothing wrong with the removal of the fuel subsidy.

“What is wrong is the haphazard way in which it was announced and implemented.
,
“Since we were told that we removed it because we don’t want to borrow and that the funds will allow for investments in critical infrastructure.

“Billions saved. Where is it? Where is it invested in critical areas of development?”


https://punchng.com/obi-desperate-for-power-ignorant-about-governance-presidency/

Chief Olu Falae, a former Secretary to the Government of the Federation, SGF, is now a traditional ruler. He is the current Ilu-Abo in Akure North, Ondo State.

Read Also: Tinubu to Sanwo-Olu: Your sins are forgiven


Falae, who was recently appointed the Chairman, National Executive Committee, NEC, of the Pan-Yoruba socio-political organization, Afenifere, in this interview, speaks on some burning national issues.


He bares his mind on President Bola Tinubu’s reforms, state police, division in Afenifere, the relevance of June 12 amongst other issues. Excerpts:

By Dayo Johnson & Dapo Akinrefon

Mixed reactions have trailed the two year istration of the Bola Tinubu istration. Would you say the economy and security has improved under him?
I’m not going to assess President Bola’s Tinubu’s government. l have channels through which I can assess it. Since he became President, I have had at least one meeting with him. So that channel is always open to me. I am no longer a politician. I’m now a traditional ruler. If it was in the past, yes, I would say all I wanted to say, but not now. But I will tell you, the reforms that have been carried out were necessary reforms, which required great courage to carry out.

Past governments shied away from them because of the possible consequences, but he had the courage to carry out those reforms.

There were things that could have been done before the reforms were initiated that might have made the negative consequences more bearable.

But by and large, I am of the opinion that those reforms are essential. For example, in a non-serious country, we have six exchange rates. One for investors. If you want to go to America, another one. If you want to pay your children’s school fees, another one. People are buying from favourable windows and selling in other places.

You are making multi-millionaires who are not doing anything at all.


So to me, it is a necessity.

Related News
Miyetti Allah fumes over member's death, livestock rustling in Benue
Economy palava: More men now sell ‘amala’ in bukas
What do these courses in humanities have to offer?
The second one is the oil subsidy.

My position has always been that there’s no reason government should participate in the fixing of prices.

Oil is not as important as food.

Everybody eats food daily.


Not everybody uses petrol.

You can do without using petrol for a year, but you cannot do without food for a day. And yet, government does not fix the price of food. Therefore, there was no need for government, all these years, to have been fixing the price of petrol and giving subsidies so the price will not be too high so that people will not be angry.

They will not refuse to vote for them at election time.So to deregulate the oil industry is something I’ve been calling for, for a very long time.

But as you now know, there are cabals and interest groups that were profiting from what used to happen.So I’ll just touch those two areas.

The reforms are absolutely necessary, but the fixing could have been done to minimise the negative effect.

The worsening insecurity especially in Benue, Plateau and Borno states has continued unabated. Do you suspect sabotage considering funds spent on security?
Well, various players have told us that there are all kinds of groups that are sabotaging our security. There are foreign entities that are mining essential minerals in parts of Nigeria, and those are the areas where the terrorism is greatest. They are mining essential minerals, selling and buying guns and ammunition to continue to protect their illegality.

Domestically, the governor of Borno State, Zulum, said elements of the security forces have been compromised. Rather than be on the side of government, they give information to the terrorists, thereby sabotaging government efforts.

So when Boko Haram started, it started as a dangerous local political gimmick.

The government wanted to use it so that they could get the votes of the people by showing the opponents as not being genuine Muslims. By having Western education, Boko Haram, that book is haram. Education is bad.

So, those educated people, they are your enemies.That’s how it started. But unfortunately, they lost control, and other elements came in, and the thing has taken on a life of its own with international complications.


So my position about security is that security is a local matter. Security is local. What do I mean? If I am able to secure my territory and you secure yours, the whole place will be secured. Each locality must have its security operators to secure its territory.

You know, we must decentralize security so that local leaders, traditional rulers and political leaders assume responsibility, along with the government and the police, of course, for securing that locality.

Buying aircrafts and tanks are okay, but how many tanks can Nigeria buy to ensure their security?

We must decentralize and use local leaders, strengthen their arms, give them , logistics, maybe equipment, so that each area can secure their locality.

So it’s a major change in strategy that I’m advocating for government to continue to fight Boko Haram, but to make sure they don’t go to other areas. Strengthening local arrangements to keep them out. Here we have Amotekun, it’s part of the localisation of the security effort.


But beyond Amotekun, for example here, I’ve organised the hunters, traditional hunters into a fairly disciplined force. They operate with the police. When the police are going on patrol now, my hunters can go with them.

When Amotekun operatives went on operation that was led by their commander, Chief Adetunji Adeleye, my hunters were part of that patrol. Because we developed them to a level where they can work with the police and Amotekun to enforce security.

This also means that, for example, most of the criminals arrested in this area in the last two years, by day or at night, were arrested by my hunters and taken to the police station. That’s the truth of the matter.

Policemen don’t go into the bush at night. My hunters do. They can go into the bush and be there for three days, day and night. And if they arrest strange elements, they take them to the police.

So, for security to be substantially improved, we must decentralize security arrangements. Let local leaders, traditional rulers, play a greater role than they are playing now. Try to do what I’ve been trying to do here for the past two years.


I’m not a magician. I’m not saying kidnappers don’t come here. Some time ago, they kidnapped about 14 people.

But those ones came from Akure to do some survey work and were kidnapped in the forest near here, but not within Ilu-abo. Of course, they kidnapped someone on a farm and they had to pay a ransom to get them released. But soon after that, my hunters, in t patrol with the police, arrested two of the kidnappers.

So, you know, a thief can enter any house if they are determined, but they would rather go to a house that is not well defended than go to a house that is barricaded.

So, similarly, once we localise this thing, the criminals themselves, we know. By the way, they have informants among us. Some of them live among us.

We don’t know them, but people give them information. So, they also tell them that these people have now mobilised to protect themselves. That should be a disincentive for them to come here.

https://www.vanguardngr.com/2025/06/state-of-the-nation-one-party-state-impossible-in-nigeria-olu-falae/

What is the Power in sacrifice, According to Romans 12 1-2?

Professor Jibril Aminu, a renowned Nigerian scholar, politician, and diplomat, has ed away at the age of 85.

A family source confirmed the news to Daily Trust , on Wednesday.

Hon. Abdullahi Prambe, Commissioner for Housing and Urban Development in Adamawa State, also confirmed the news.

Aminu, who celebrated his 85th birthday on August 25, 2024, was a towering figure in Nigerian public life.

Born in Song, Adamawa in 1939, his illustrious career spanned several critical sectors.

He was a Consultant Cardiologist, an influential educational , and a seasoned statesman.

His extensive public service included pivotal roles as Minister of Education, Minister of Petroleum and Mineral Resources, Nigerian Ambassador to the United States, and a Senator who represented Adamawa Central.

Prambe expressed profound sorrow over the loss, describing the deceased as a mentor and a guiding light for both Adamawa and Nigeria.

“His contributions to education, healthcare, and governance will remain etched in our history,” Prambe stated.

A family source said the funeral is scheduled for 2. today, following the Zuhr prayer, at the Abuja National Mosque.

The family is yet to release an official statement regarding the exact cause of death or further funeral arrangements.

https://dailytrust.com/prof-jibril-aminu-dies-at-85/#google_vignette

Nlfpmod, let us keep praying...........

The Presidency yesterday gave itself a mark in the management of the economy two years after President Bola Ahmed Tinubu took over the mantle of leadership, saying the reforms have started yielding results.

The Presidential Media Team at an interactive session in Lagos yesterday also disclosed that efforts are being intensified to bring down the cost of food and medication for Nigerians.



Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga who spoke with newsmen alongside other of the media team insisted that Nigeria’s economy has become an investor’s delight on of the macroeconomic reforms carried out by the Tinubu-led istration two years ago.


The twin-reforms around subsidy removal and the flotation of the currency, the presidential aide stated, were imperative to get the economy back on track by stopping the wastage associated with payment of subsidy on the motor spirit (PMS) otherwise known as petroleum which was not benefitting the common man.


NDLEA seeks security agencies’ collaboration to combat drug trafficking
Niger: How we survived ravaging flood – Survivors
While acknowledging the challenges triggered by the policy in of high cost of food and other commodities like medications, Onanuga stated that the president remains committed to easing the pains of Nigerians and ensuring that the gains of the reforms were felt by the common man.

He disclosed that the federal government had concluded a plan to set up a Medipool, a special purpose vehicle that would buy drugs in bulk to sell to people at cheaper rates.

According to him, “We’ve set up a company that would buy drugs and other medical equipment in bulk and make them available at cheaper prices.”

Similarly, he stated that the federal government is investing in agriculture to bring down the cost of food, adding that prices of food would continue to come down as inflation is easing.

Onanuga stated that going by the reforms of the President, Nigeria’s economy has become “An investor’s delight,” adding, “Nigeria is now investable.”

“When you look at the capital market, the All Share Index (ASI) is now an all-time high. Some of the listed companies paid over N1 the as dividend, which shows that something is going right. We are also increasing foreign reserves,” he added.

The presidential spokesman stated that amidst the cries of hunger in the economy, the government has created enormous activities which people are tapping into through various initiatives.

“Some people are making it good under this economy. There’s a paradigm shift in the economy, the driving force is the market. Many problems you see today were created before Tinubu came into office,” he added.

Also speaking, Special Adviser, Media and Public Communication to the President, Sunday Dare stated that it would be unfair to judge the istration of the President in just two years.

“There is nothing anyone can do in two years. The president never inherited a perfect economy,” he stated, adding, “It takes between four to eight years before real policies can take root and sprout

“This second year is a tracking system where we can point out development in key areas. This president is taking on challenges avoided by other Presidents and we are seeing the results of the reforms,” he added.



https://dailytrust.com/our-strategies-to-bring-down-food-medication-costs-presidency/

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has said the power of prayer over the nation has kept the nation saying, “Some say, ‘You’ve been praying and fasting — where is the result?’ I laugh. If we had not prayed, Nigeria would have been in a far worse state. Let’s not stop.

He also declared that RCCG operates under a divine shield — a supernatural covering that has preserved the church from calamities since its inception.

Speaking on Sunday during the monthly Thanksgiving service and special prayer for security and paramilitary personnel at the RCCG national headquarters in Ebute-Metta, Lagos, Adeboye
added, “There is a God who rules in the affairs of men. If those praying would pause for just one week, the difference would be terrifying. Keep praying. God controls the hearts of kings.”

Adeboye preaching on the topic “Shadow of the Almighty,” talked about miraculous s that point to what he described as the “peculiarity” of RCCG under God’s shadow.

He said, “I never preach church or denomination, but there is something peculiar about the Redeemed Christian Church of God. There is a shield over the RCCG — unseen but undeniably present.”

Adeboye recalled how a building in the United States, which hosts an RCCG house fellowship, was the only one spared in a row of 15 houses during a devastating flood. “House after house was flooded, but house number eight — the only one with a sign that read, ‘House Fellowship of RCCG holds here’ — remained untouched,” he said.

He also cited a fire incident in March at Otedola Bridge, Lagos, where a blaze razed multiple buildings but mysteriously spared an RCCG structure. “The buildings before and after were consumed, yet the RCCG building was left standing. That is not a coincidence — that is divine covering,” Adeboye said as the church’s media team projected the image during his sermon.

He emphasized that although God’s protective presence may not always be visible, it is powerful and ever-present for those who abide in Him. “Your security is only assured in Him. Whether in peace or war, young or old, the Almighty casts a shadow of protection over His own,” he declared.

Earlier in the service, his wife, Pastor Folu Adeboye, led a ionate session of prayer for the peace and progress of Nigeria and those in leadership. “Let’s ask God to show our president mercy and give him peace, so that he may enjoy his time in office,” she prayed.

The Thanksgiving service, which also honored security and paramilitary forces, highlighted RCCG’s ongoing commitment to spiritual intercession for Nigeria’s peace and divine protection for its people.

https://punchng.com/nigeria-would-be-far-worse-without-prayer-adeboye/

President Bola Tinubu’s fresh request to the National Assembly to approve new external loans totalling $24.14 billion is tiresome.

Once again, it raises concerns that Nigeria is hurtling towards a fiscal precipice, with public debt increasing at an alarming rate even as government revenues show signs of recovery.

The proposed loans could balloon Nigeria’s total public debt to an astounding N182.91 trillion (approximately $69.92 billion) by 2026.

This request follows a 52.7 per cent surge in external debt and a 48.58 per cent year-on-year increase in total debt in 2024, driven by a combination of relentless borrowing, a steep depreciation of the naira, and insufficient financial governance.


Explainer: Cholera

The numbers paint a stark picture. At the current exchange rate of N1,586.15 to the dollar (as of 30 May), the proposed new loans would add N38.28 trillion to Nigeria’s debt stock, representing a 26.43 per cent jump from the country’s already daunting N144.67 trillion debt as of December 2024.

Tinubu explained that the external borrowing plan forms part of the 2025–2026 rolling borrowing programme and is aimed at ing key sectors: infrastructure, agriculture, healthcare, education, water resources, security, and public finance reforms.

He noted that the projects covered by the plan had undergone technical and economic appraisals and were selected for their potential to stimulate growth, generate jobs, and improve public service delivery.

However, the underlying fiscal reality is that debt servicing now consumes a lion’s share of national resources, leaving little room for meaningful capital investment.

In 2024 alone, the naira’s collapse inflated the country’s external debt by 83.89 per cent, transforming what should be manageable currency risks into looming fiscal crises.

The situation is further complicated by an impending $1.11 billion Eurobond repayment due in November 2025, which threatens to deplete the country’s foreign reserves.

There are concerns that the country’s debt-to-GDP ratio, once a point of relative comfort, has surged to 52.52 per cent, breaching the government’s own 40 per cent threshold. This could trigger sovereign credit downgrades and spook investors.

Nigeria’s debt trajectory has trended upwards over time. The Federal Government’s borrowings increased by 658 per cent between 1999 and 2021, from N3.55 trillion to N26.91 trillion, according to BudgIT.

Under former President Muhammadu Buhari’s istration, foreign debt increased by more than 291 per cent.

In May 2023, Nigeria’s public debt stood at N87.38 trillion (approximately $55.2 billion), but it rose rapidly to N144.67 trillion (a 60.3 per cent increase) by the end of 2024, equivalent to approximately N629,000 per person.


The 2025 budget reflects a fiscal deficit of N13.08 trillion, constituting approximately 38 per cent of the Federal Government’s revenues, 3.87 per cent of estimated GDP, and 23 per cent of total expenditure, alongside a projected debt servicing obligation of N14.32 trillion.

The African Development Bank flagged Nigeria’s rising debt costs a week ago, stating that the country is projected to spend 75 per cent of its revenues on interest payments in 2025.

This debt spiral is made even more dangerous by a glaring deficit in ability. Past borrowings have failed to deliver quality schools, healthcare facilities, roads, rail, and power infrastructure.

Scepticism about the government’s borrowing spree is fuelled by a lack of transparency and persistent questions about the use of previous loans.

Budget implementation reports have not been published since the second quarter of 2024, leaving the public and watchdog organisations in the dark about how borrowed funds are being spent.


The $3.4 billion loan secured from the IMF at the height of the COVID-19 crisis is shrouded in mystery, with no comprehensive ing provided to date.

Given these realities, Nigeria cannot continue to rely on debt-based funding as its primary development strategy. Pivoting towards asset-based solutions and greater private sector involvement offers a path out of the current quagmire.

The NNPC is sitting on $300 billion in assets. Given its long history of inefficiency, a substantial divestment and complete sale of its problematic refineries is overdue. This can raise cash for infrastructure and onboard private investors to help give the company new energy and direction. Other assets, such as Ajaokuta Steel, should be sold without delay.

The Asset Management Corporation of Nigeria must renew efforts to recover N4 trillion in delinquent debt acquired from banks at the government’s expense.

The government’s proposed $2 billion domestic dollar bond, if managed prudently, could deepen local capital markets and reduce dependence on volatile external funding.

The tax reforms provide opportunities to mobilise domestic financial resources more effectively and move the tax-to-GDP ratio to the target of 18 per cent, up from the 13.5 per cent cited by Tinubu in his midterm report. The target implementation date of July is just a month away. Parliament should speed up the age process.

The recent rebound in oil production to 1.5 million barrels per day in April offers some revenue upside, but this is no windfall as crude prices remain volatile, and forward crude sales, estimated at $21.5 billion since 2019, have maturity dates extending as far as 2034.

In seeking to assuage fears, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, assured last week that the istration is considering a self-financing infrastructure model. This model will see major national projects like ports, roads, and solar power plants concessioned to private operators, with proceeds used to defray project-related debt.

He pointed to expansion plans for Nigeria’s ports and solar projects as examples of revenue-generating initiatives that will bring in more business and charges to help offset loan costs. This thinking is welcome, but it is private sector participation that can bring discipline, innovation, and ability.


India, China, Indonesia, the Philippines, and Malaysia have developed alternative models for infrastructure funding, including project finance, PPPs, private equity, corporate bonds, and sukuk, tailored to suit their specific needs.

To bridge Nigeria’s estimated $3 trillion infrastructure deficit in the long term, firm legal guarantees and fully transparent concession will be required to attract private capital, especially from offshore entities.

Lack of transparency, inadequate risk assessment, and poor stakeholder engagement led to the failure of the landmark Lekki-Epe Expressway concession. The MM2 Airport concession was not fully implemented, with the hospitality components suspended due to legal wranglings.

There is little clarity around the Infrastructure Tax Credit Scheme, designed to attract private capital for the construction of nine major highways at a cost of N1.5 trillion. Nigeria must substantially de-risk the investment climate to attract capital inflows.

Ultimately, fiscal discipline must become a national imperative. The government cannot justify further borrowing despite its shrinking fiscal space while ing a bloated cabinet, duplicative ministries, departments, and agencies, a high-maintenance legislature, multitudes of political aides at national and sub-national levels, needless foreign trips, mile-long motorcades, and other fripperies.

A zero-based budgeting system can ensure that every financial allocation is substantiated and aligned with national objectives.

Anti-corruption efforts must be ramped up to plug loopholes and leakages in public finances and ensure value for money in government spending.

The Federal Government needs to shed some weight and responsibilities by consolidating MDAs in line with the Steven Oronsaye report and pushing for fiscal federalism anchored on resource control and the concomitant realignment that will enable states to drive significant infrastructure development.

Regardless of attempts at justifying additional borrowing, planned or actual, the government must be acutely aware that Nigeria cannot afford to slip into an unsustainable debt crisis.

Punch Editorial Board

https://punchng.com/tinubu-chants-tiresome-borrowing-tune/

Why don't we have miracles as recorded in Acts of Apostles and Bible?

At least 150 million Nigerians have been affected by insecurity, the National Security Adviser, Nuhu Ribadu, said on Friday.

Ribadu disclosed this in Abuja during the g of a Memorandum of Understanding between the National Counter Terrorism Centre and the International Institute of Tropical Agriculture.

The agreement aims to promote agribusiness and livelihood empowerment for communities impacted by terrorism and violent extremism.

The NSA said insecurity has had a devastating impact on agriculture, which remains the primary occupation for most Nigerians.

Movement Resumes at Games Village After Ogun Athletes’ Protest0:00 / 0:00

undefined0:00 / 0:00

“Security is the biggest problem we are facing in all sectors, but the biggest victim of insecurity is agriculture because when it came in, it interfered with our lives; Nigerians are farmers. Either you’re a farmer or from a family of farmers, so all of us one way or the other, it has affected us. Insecurity has turned our lives upside down. When we come together, we are better off. We must come together to give our people their lives back.

“Our people are in dire need of this. I don’t think there is any country in the world today which is facing the challenges we are facing. Because we are big, we are huge in number. Populations that are affected by the insecurity in Nigeria may be in excess of 120 to 150 million,” he said.

He called for a whole-of-society approach to address the root causes of insecurity, including poverty, lack of opportunity, and social exclusion.


Ribadu warned that the security crisis threatens national stability, noting the collapse of neighbouring countries in the Sahel due to insurgencies.

“We are the only ones still standing strong in the Sahel, and that is thanks to the efforts of our security forces. But we are in difficulty,” he said.

He emphasised the need to complement military operations with non-kinetic solutions aimed at sustainable peace and development.

Also speaking, the Minister of Livestock Development, Idi Muktar Maiha, welcomed the initiative and called for a shift from military to agricultural development in rural areas.

He specifically called on the government to “replace armoured tanks with tractors” and to also “replace machine guns with milking machines” in the country.

He said, “Once people are productively engaged, they will not be available for recruitment, no matter the enticement, and this is what we are looking at and our vision today in the country. We want Nigeria’s countryside to be the symbol of what we want; we want tractors to replace armoured tanks.

“We want milking machines to replace machine guns; that should be the symbol. Let me repeat this for purposes of emphasis: tractors should replace armoured tanks; they have no place in our countryside. Milking machines should replace machine guns; they have no place in our country.”

https://punchng.com/insecurity-affects-150-million-nigerians-threatens-agriculture-ribadu/

Nlfpmod, APC is making lives miserable........

Tinubu’s Government Has Failed The People — Opposition Coalition Will Not Be Silent.

In just two years, President Bola Ahmed Tinubu’s istration has proven to be one of the most incompetent, disconnected, and anti-people governments in Nigeria’s democratic history. No previous istration has inflicted this level of hardship on the masses while showing such disregard for transparency, ability, and responsible leadership.

This government has not only deepened poverty across the country, but it has also set new records in wasteful public spending. At a time when millions of Nigerians are struggling to survive, government officials are living in excess and approving budgets that benefit the elite at the expense of the common man. It is sad that apart from being the poverty capital of the world, Nigeria has under this istration emerged as the unenviable position as the capital of malnourished children in Africa having beaten Sudan, a nation that is at war. According to the Global Hunger Index 2024, our country is one of the most affected by hunger and malnutrition, occupying the 18th position,

Policy after policy under this istration has targeted the poor while providing relief and advantage to the rich. From healthcare to education to identity management and basic public services, Nigerians are now faced with class-based systems where the wealthy enjoy VIP treatment, and the rest are left behind.

Just two weeks ago, the National Identity Management Commission (@nimc_ng) hiked its fees by 75%, introducing VIP protocols for services that should be a basic right of citizenship. In education, public university fees have been raised far beyond the reach of poor families, with no adequate mechanisms in place.

Even more troubling is the scale of borrowing under this government. When President Tinubu assumed office in 2023, Nigeria’s total public debt stood at approximately N49 trillion. In just two years, that figure has skyrocketed to N144 trillion — a 150% increase — with more foreign loans now being requested, which could push the debt to N183 trillion.

While the federal government racks up debt, state governments have shown more discipline, reducing their debt levels from N5.86 trillion to N3.97 trillion. The implication is clear: the federal government, under Tinubu, is the primary driver of Nigeria’s current debt crisis.

President Tinubu’s justification — that new borrowing is needed to fund the 2025 budget and soften the impact of fuel subsidy removal — is both weak and dishonest. It was the reckless and insensitive way his government removed the subsidy that created much of today’s economic hardship in the first place.

Today, Nigeria is a nation where the rich get richer, and the poor are punished for trying to survive. This reality can not and will not be ignored.

As opposition leaders and partners committed to the future of Nigeria, we will not stand by and watch democracy be reduced to a tool for elite control. We reject any attempt to turn Nigeria into a one-party state where dissent is silenced and power is abused.

We are building a strong, united opposition coalition — one that will challenge the excesses of this istration, restore ability, and return government to the people. We will protect the right of every Nigerian to freely choose their leaders, and we will continue to fight for economic justice, political freedom, and national progress.

We are here to rescue Nigeria. And we will not stop until that goal is achieved. -AA

https://x.com/atiku/status/1927996257685193037

President Bola Ahmed Tinubu has urged ECOWAS leaders to stop making promises and start taking real action that benefits the people, especially young people and women.

Speaking on Wednesday in Lagos at ECOWAS’s 50th anniversary celebration, Tinubu, who is the current chairman of ECOWAS, said the regional body has made progress in trade, peacekeeping, and unity.

However, he stressed that more needs to be done.

“We are lagging behind on implementation.

“Let our citizens feel the real impact of our shared efforts,” he said.

He called on leaders to the youth and women by giving them opportunities in education, business, and leadership.

“We must mentor them. Their success is the key to the future. We want to hand a banner without stain to you, the youth of West Africa,” Tinubu said.



Tinubu also honoured former Nigerian Head of State, General Yakubu Gowon (retd.), the only surviving founder of ECOWAS, and praised the early leaders of the organisation.

He said ECOWAS had made progress by bringing together English, French, and Portuguese-speaking countries and allowing free movement across borders but challenges like insecurity, food shortages, and poor implementation of plans remain.

“Our biggest challenge now is implementation. The work of unity must continue,” Tinubu said.

He promised that Nigeria will continue to other West African countries through programmes like the Technical Aid Corps, which sends skilled professionals to help in member states.

Tinubu also showed for new ECOWAS projects, like the Infrastructure Master Plan and the Ecogo digital platform, aimed at modernising the region.

He stated, “Let us imagine a West Africa where our economies thrive through t effort… where our people, diverse yet bound by destiny, work together towards peace, prosperity and justice.”

https://punchng.com/empower-youths-tinubu-tells-ecowas-leaders/

ABUJA — Nigeria’s public debt is set to exceed N180 trillion, following President Bola Tinubu’s request to the National Assembly, seeking approval for additional external and domestic loans totalling N34.15 trillion.

According to the letters, President Tinubu is seeking approval for a new external borrowing plan of over $21.5 billion, which translates to N33.39 trillion at the official exchange rate of N1,590 per dollar.

The President is also seeking approval of a domestic bond issuance of N757.9 billion to settle outstanding pension liabilities.

In the separate letters to the Senate and House of Representatives, read at yesterday’s plenary by the President of the Senate, Senator Godswill Akpabio, and Speaker of the House, Tajudeen Abbas, President Tinubu highlighted the strategic significance of the 2025–2026 borrowing plan, noting that it spanned key sectors of the economy.

Tinubu said: “The 2025–2026 borrowing plan covers all sectors, with specific emphasis on infrastructure, agriculture, health, education, water supply, growth, security, and employment generation, as well as financial and monetary reforms, among others.”

He explained that the total facility sought under the external borrowing plan includes USD 21,543,647,912; EUR 2,193,856,324.54; and 15 billion Japanese Yen, in addition to a grant of 65 million EUR.

Tinubu, who noted that the proposed borrowing is crucial, in light of removal of fuel subsidy and its economic implications, said: “In light of the significant infrastructure deficit in the country and paucity of financial resources needed to address this gap, amid declining domestic demand, it has become essential to pursue prudent economic borrowing to close the financial shortfall.”

He assured lawmakers that the proposed funds will be channeled into critical infrastructure projects, especially in the areas of railways, healthcare, and nationwide development programmes across all 36 states and the Federal Capital Territory, FCT.

“This initiative aims to generate employment, promote skill acquisition, foster entrepreneurship, reduce poverty, and enhance food security, as well as improve the livelihoods of Nigerians,” he emphasized.

In another letter, President Tinubu sought NASS’ approval for the issuance of Federal Government bonds in the domestic market to settle accrued pension liabilities under the Contributory Pension Scheme, S, amounting to N757,983,246,572.
The President, who cited the Pension Reform Act 2014, noted that the government had been unable to comply with some statutory pension obligations due to revenue challenges, leading to a buildup of arrears and increasing hardship for retirees.

He said: “The Senate, House of Representatives are invited to note that the Federal Government has not been compliant with the implementation of the above provisions of the PRA 2014 over the years due to revenue challenges leading to the accumulation of pension arrears with the attendant suffering of retirees.”

Tinubu noted that the proposal to issue bonds for the settlement of the liabilities had received approval from the Federal Executive Council, FEC, in its meeting of February 4, 2025.

According to him, settling the pension arrears will improve retirees’ welfare, boost confidence in the pension system and inject liquidity into the economy.

The letters read further: “It will enable the Federal Government of Nigeria meet obligations under the S and restore confidence in the pension industry.

“It will also ensure positive welfare, even for the retirees, as this will enable them to meet their basic needs, improve health and avoid untimely death.”

President Tinubu, who urged the National Assembly to give timely approval, assured of his istration’s commitment to transparency and ability.

While the Senate President referred the request to the committee on local debts for further legislative action, Speaker of the House of Representatives referred same to the committees on national planning and economic development, as well as pensions for further action.

The committees are to report to both arms of the National Assembly for further legislative action.

Rising public debt
Nigeria’s total public debt rose by 48.6 per cent to N144.66 trillion in 2024, from N97.34 trillion in 2023, with the Federal Government ing for 95 per cent or N137.28 trillion.

Consequently, the additional borrowing, when combined with the N10.85 trillion borrowed from domestic investors from January to April this year, indicates an increase in total public debt to over N180 trillion.

Debt Service-to-Revenue deteriorates to 131%

Meanwhile, the Federal Government’s debt service-to-revenue ratio, a critical measure of ability to repay loans, deteriorated to 131 per cent in the first two months of the year, January to February (2M’25), from 118 per cent in the corresponding period of 2024.

Rising debt service spending
Vanguard’s analysis of data on fiscal activities of the Federal Government in the monthly economic report of the Central Bank of Nigeria, CBN, for January and February, showed that the FG spent N1.399 trillion on debt service in 2M’25, up by 25 per cent YoY from N1.117 trillion in 2M’24.

It also recorded a 13 per cent YoY increase in revenue to N1.067 trillion in 2M’25, from N943.4 billion in 2M’24.
Consequently, the FG’s debt service-to-revenue rose to 131 per cent in the 2M’25, from 118 per cent in 2M’24.
The deterioration in the debt service-to-revenue will persist, given the additional borrowing sought by the President.
Consequently, economy stakeholders expressed concern over the implication of the additional borrowing for the FG’s debt service-to-revenue ratio.

While noting that the magnitude of the new loan is too large, representing almost half of the total external debt of $45.8 billion as at December 2024, while total external debt currently s for roughly 49% of public debt, and a sizable proportion of debt service, Tunde Abidoye, Head of Equity Research, FBNQuest Merchant Bank, said: “I believe some caution is warranted, given the potential rise in debt service cost, and the inherent exchange rate risks associated with foreign denominated borrowings. This also has implications for the fiscal space.”

Capacity to repay should be a major concern — EX-CIS President
On his part, Olatunde Amolegbe, former President, Chartered Institute of Stockbroker, CIS, said: “ It is well known that the budget deficit projected for 2025 needed to be covered primarily through a combination of external and domestic borrowing, so this new request is probably in fulfillment of that.

“Borrowings from multilateral bodies typically come at relatively variable relative to commercial borrowing and this is expected to be the case for this new $21.5 billion loan.

‘’The N757.9 million in domestic pension bond, to used to fulfill government’s obligation regarding pension liabilities and should ensure that pensioners are able to get their entitlements immediately, while government covers the repayment and interest obligations over time.

“This is not the first pension bond that will be issued as some had been issued by the previous istration and I figure it won’t be the last. For me, borrowing in itself is not a problem as long as the capacity to meet up with repayment obligations, as at when due is there. It is, however, important that we pay particular attention to application and usage of the loans.”

Borrowing could be fruitful if tied to reforms, projects —Egbomeade
Reacting to the proposed borrowings, Clifford Egbomeade, Economic analyst and communications expert said: “President Tinubu’s request to borrow $21.5 billion externally and issue a domestic bond of N757.9 billion to settle pension liabilities is a significant move that could have both short and long-term implications.

‘’On one hand, settling outstanding pension obligations can provide immediate relief for retirees and help stimulate domestic consumption, which s economic activity. Similarly, if the external loans are concessional and targeted at productive sectors like agriculture, job creation, and infrastructure, they could contribute to broader economic development.

“That said, Nigeria’s current debt profile is already high, with total public debt at N144.7 trillion (about $94.2 billion) as of December 2024. Debt servicing costs remain a major concern, taking up a large share of government revenue.

“So, while these measures could help address urgent social and economic needs, their success will largely depend on how efficiently the funds are used and whether they are tied to reforms that boost revenue and reduce waste.
‘’Careful planning and transparency will be key to ensuring these efforts strengthen the economy, rather than deepen fiscal strain”.

https://www.vanguardngr.com/2025/05/nigerias-debt-heads-for-n180trn-as-tinubu-seeks-n34trn-new-loans/

President Bola Ahmed Tinubu has written to the House of Representatives seeking approval for three major financial proposals involving external and domestic borrowings amounting to billions of dollars, euros, and naira.

In a set of letters read on Tuesday during plenary by the Speaker, Abbas Tajudeen, the president requested legislative backing for the federal government’s external borrowing rolling plan for 2025–2026, a $2 billion foreign currency bond issuance in the domestic market, and the issuance of bonds to clear outstanding pension liabilities under the Contributory Pension Scheme (S).



$2bn Foreign Currency Bond in Domestic Market


In the first letter, Tinubu sought the House’s approval to raise up to $2 billion through the issuance of foreign currency-denominated financial instruments in Nigeria’s domestic debt market. The issuance, the President said, is in line with a Presidential Executive Order signed in October 2023.


“This request is pursuant to the provisions of Section 44 (1) and (2) of the Fiscal Responsibility Act 2007 and Section 1(7) of the Executive Order, which requires National Assembly approval for all new borrowings and appropriation of the proceeds,” the president wrote.

The proceeds, according to the president, will be invested in critical sectors of the economy to drive growth, infrastructure, job creation, and foreign exchange earnings.

The strategy, he explained, aims to diversify government funding sources, stabilise the naira, and deepen the local financial market.

However, he acknowledged that the capital raising will increase Nigeria’s public debt stock and debt servicing costs.


$21.5bn, €2.2bn External Loans for 2025–2026

In another communication, Tinubu presented a detailed external borrowing plan for the 2025–2026 period. He said the proposed loans amounting to $21.5 billion, €2.2 billion, 15 billion Japanese yen, and a €65 million in grants, would fund priority projects across infrastructure, agriculture, health, education, water supply, security, and employment generation.

“These projects were selected based on technical and economic evaluations and are geared toward addressing the country’s infrastructure deficit, reducing poverty, creating jobs, and boosting food security,” the president stated.


He added that most of the projects would be implemented across the 36 states and the Federal Capital Territory.

Citing the impact of subsidy removal and dwindling domestic revenues, Tinubu emphasised the urgency of closing the financial gap through prudent external borrowing, noting that the funds will be targeted at sectors such as power, railways, and healthcare.

N758bn Bond to Clear Pension Arrears

In a third request, Tinubu asked the House to approve the issuance of FGN bonds worth N757.98 billion in the domestic market to offset outstanding pension liabilities under the Contributory Pension Scheme as of December 31, 2023.


The request, he said, follows the federal government’s non-compliance with several provisions of the Pension Reform Act (PRA) 2014 over the years due to revenue constraints.

“This bond issuance will enable the federal government to meet its obligations to retirees, restore confidence in the pension system, and improve the welfare of retired public servants,” Tinubu wrote.

He stressed that clearing the pension backlog would enhance liquidity in the economy and have a positive effect on public sector morale, adding that the proposal was approved by the Federal Executive Council in February 2025.

All three requests, submitted pursuant to relevant fiscal and pension laws have been referred to the House Committee on Finance for further legislative actions.
https://dailytrust.com/tinubu-seeks-approval-for-21-5bn-e2-2bn-foreign-loans/

President Bola Tinubu has reaffirmed his istration’s commitment to protecting the rights, dreams, and futures of every Nigerian child, as the nation marks the 2025 International Children’s Day today.

In an address to children across the country on Tuesday, the President described them as “the pride and future of our great nation,” underscoring the government’s moral, constitutional, and intergenerational duty to ensure their protection, development, and safety.

“Our children are the most precious part of our national fabric, the heartbeat of our nation’s future, and the custodians of tomorrow’s promise, innovation, and leadership,” Tinubu said.

This year’s Children’s Day theme, “Stand Up, Speak Up: Building a Bullying-Free Generation,” was lauded by the President as timely, reflecting the need to foster a culture where every child feels safe, respected, and heard, both in physical and digital spaces.

“Violence, bullying, and neglect have no place in the Nigeria of today,” he declared, citing global statistics that show over one in three children experience bullying, with Nigerian studies estimating up to 65% of school-age children affected by various forms of aggression.

“A child who learns in fear cannot learn well. A child who grows in fear cannot grow right,” the President stressed.

Tinubu highlighted key measures under the Renewed Hope Agenda aimed at addressing these challenges.

These include the implementation of the National Plan of Action on Ending Violence Against Children (2024–2030), the review of the Child Rights Act (2003) and the Violence Against Persons (Prohibition) Act (2015), and full enforcement of the Cybercrime Act to combat cyberbullying and online abuse.

He further announced a “See Something, Say Something, Do Something” campaign, urging every Nigerian to become a child protection champion.

“Laws alone will not be sufficient to protect our children. Parents, teachers, caregivers, faith leaders, lawmakers, and citizens must take ownership,” he said, adding that while 36 states have domesticated the Child Rights Act, more needs to be done to translate legal frameworks into action.

The President detailed ongoing initiatives such as the “Child Protection Information Management System (IMS)” for real-time response to cases, community-based child protection mechanisms, nationwide awareness campaigns against harmful traditional practices, and training of frontline responders.

Tinubu also announced the establishment of a dedicated Department of Nutrition within the Ministry of Women’s Affairs, the expansion of Mother and Child Hospitals across all geopolitical zones, and a National Policy on Safety, Security, and Violence-Free Schools.

He reaffirmed the government’s commitment to “School Feeding Schemes, the Nutrition 774 programme,” and the creation of the “National Child Wellbeing Index” to track progress and ability.

Addressing children directly, he said “You matter. Your dreams matter. Your voices matter. No one has the right to hurt, silence, or diminish you. If you are bullied or harmed, speak up—you will be heard and protected.”

He urged all stakeholders to embed child rights into all budgets, plans, and policies, adding, “Let today mark a renewed movement to build a Nigeria where no child suffers in silence, no child is left behind, and every child grows in dignity, peace, and love.”

Tinubu concluded with a message of hope: “Congratulations to all our children. May your laughter echo across this land as a symbol of Renewed Hope and a prosperous future.”

https://punchng.com/may-27-tinubu-pledges-renewed-commitment-to-nigerian-children/

Nlfpmod, nothing has changed.........

The Independent Petroleum Marketers Association of Nigeria has said the Nigerian National Petroleum Company Limited had to shut down the Port Harcourt Refining Company to save its face.

IPMAN said the facility’s shutdown is insignificant to the Nigerian petrol market, stressing that the plant did not produce petrol for about three months before its eventual shutdown.

This is even as the Petroleum Products Retail Outlet Owners Association of Nigeria argued that the facility will be of no value without the Motor Spirit (petrol) blending unit, adding that 30 days will not be enough to complete the repair exercise.

In an interview with our correspondent, IPMAN’s Publicity Secretary, Chinedu Ukadike, argued that the refinery had not produced any fuel in the past few months, wondering why the NNPC was just announcing a shutdown now. NNPC announced the shutdown of the plant on Saturday.

In a statement, it confirmed an earlier report by our correspondent that the facility would be shut down for a month for maintenance. According to the NNPC Chief Corporate Communications Officer, Olufemi Soneye, the shutdown commenced on Saturday, May 24.

“NNPC Ltd wishes to inform the general public that the Port Harcourt Refining Company will undergo a planned maintenance shutdown. This scheduled maintenance and sustainability assessment will commence on May 24, 2025,” he said.

Soneye added that the company was working with relevant stakeholders to ensure efficiency and transparency during the exercise.

“We are working closely with all relevant stakeholders, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority, to ensure the maintenance and assessment activities are carried out efficiently and transparently.

“NNPC Ltd remains steadfast in its commitment to delivering sustainable energy security for Nigeria. Further updates will be provided regularly through our official channels, including our website, media platforms, and public statements,” he stated.

However, in an interview with our correspondent, Ukadike maintained that the 60,000-barrel-capacity refinery has not produced petrol in the past few months after it was declared operational in November.

According to the IPMAN leader, the new leadership of the NNPC ought to have ordered a complete overhaul of the facility, saying the announcement of a shutdown was just to save face, knowing full well that the facility has been running far below expectations.

According to Ukadike, marketers have been buying petrol from Dangote, while others resort to importation. He maintained that the shutdown of the facility for maintenance just six months after its commissioning showed that something was not well.

“For all these days, we have been buying petrol from the Dangote refinery, and some others are importing. The shutdown of the Port Harcourt is insignificant. It does not affect anybody.

“The refinery has been down for years before it was rehabilitated and reopened last year; now, they are shutting it down again. That means something is wrong. To the best of my knowledge, the refinery has not been producing anything in the past three months. This shutdown is just to save their face.

“Well, it does not matter the number of days or months this shutdown will last; what matters is, will it be able to come back to give Nigerians enough fuel and work effectively like the Dangote refinery?” Ukadike said.

Saturday PUNCH had reported that indigenous fuel retailers in Eleme, the community hosting the refinery, kicked against the plan to shut down the refinery, accusing some officials of sabotage.

On Saturday, the spokesperson of the Petroleum Products Retail Outlet Owners Association of Nigeria, Joseph Obele, insisted that the refinery had been shut down since Thursday. He feared that the shutdown might lead to job losses and fuel scarcity.

In a statement on Sunday, PETROAN President Billy Gillis-Harry expressed concerns over the development. According to him, though the refinery’s shutdown for maintenance is expected, the association wants the NNPC to adhere to the scheduled 30-day repair timeline to minimise disruptions to petroleum product supply.

PETROAN fears that the 30-day schedule might not be realistic due to usual bottlenecks, potentially leading to further delays and exacerbating supply challenges.

“The association is worried that delays in the old refinery’s 30-day rehabilitation schedule may worsen economic hardship for millions of Nigerians,” Gillis-Harry said.

In his demands, he requested the inclusion of a PMS blending unit in the maintenance activity. “PETROAN emphasises that the repair process must include the Motor Spirit blending unit, as the crude oil cracking process is of no value without it,” he said. He also demanded the timely completion of the maintenance work.

“PETROAN demands that NNPCL complete the repair before existing stocks run dry to prevent market monopolisation and ensure a stable supply of petroleum products. Completing the repair on time will help maintain competition in the market, benefiting consumers and the economy,” he stressed.

Gillis-Harry recommended that the Minister of Petroleum set up a task force comprising all petroleum industry stakeholders to monitor the 30-day repairs. “The task force should brief Nigerians on the job progress every weekend to ensure transparency and ability in achieving the 30-day repair schedule,” it stated.

PETROAN further recommended that payments to contractors handling the repairs be made promptly to avoid delays and ensure the project stays on track.

Meanwhile, NNPC spokesperson Soneye had earlier debunked claims of sabotage, saying the maintenance would ensure the safe and sustainable operation of the refinery.

“Please be informed that the refinery remains fully operational. However, we are preparing to undertake a scheduled critical safety maintenance exercise aimed at ensuring the continued safe and sustainable operation of the facility.

“This maintenance activity, which will follow global best practices, is expected to last approximately one month. To ensure uninterrupted supply during this period, we have adequate volumes of AGO, kerosene, and other products,” he said on Friday.

Recently, the Depot and Petroleum Products Marketers Association of Nigeria said the refineries owned by the Nigerian National Petroleum Company Limited can not optimally produce motor spirits but naphtha.

DAPPMAN’s Executive Secretary, Olufemi Adewole, clarified that his would not go to the Port Harcourt or Warri refineries for petrol because the facilities were producing naphtha, and were not optimally producing the much-needed petrol.

“The NNPC refineries, both the revamped Port Harcourt and Warri, are not yet optimally producing PMS; they are producing naphtha. Our will not go to them for now.

“But where we can get the product is Dangote refinery, and we are willing to work with Dangote refinery; we are willing to buy from Dangote refinery, but if we don’t get the product from Dangote refinery, the PIA allows us to import which is what we’ll go for,” Adewole said.

In November 2024, the NNPC said the Port-Harcourt refinery had resumed operations after years of inactivity. It said the newly rehabilitated complex of the old Port Harcourt refinery, which had been revamped and upgraded with modern equipment, was operating at a refining capacity of 70 per cent of its installed capacity.

The company added that diesel and Pour Fuel Oil would be the highest output from the refinery, with a daily capacity of 1.5 million litres and 2.1 million litres, respectively.

This is followed by a daily output of Straight-Run Gasoline (Naphtha) blended into 1.4 million litres of Motor Spirit, 900,000 litres of kerosene, and low-pour fuel oil of 2.1 million litres. It was stated then that about 200 trucks of petrol would be released into the Nigerian market daily.

The NNPC spokesperson, Soneye, stated this while replying to claims from some quarters that the Port Harcourt refinery was not producing fuel, but blending through Indorama Petrochemicals.

https://punchng.com/pharcourt-refinery-didnt-produce-fuel-before-shutdown-marketers/

Can a Country prosper despite heavy shedding of blood of innocent souls?
With the rate of killings and kidnappings, can our nation prosper. God didn't allow David to build for him due to shedding of lot of blood.

We did Dominique...... Yeses is the first, our men next season..
..
..

CHAMPIONS OF EUROPE. THE ONLY IN THE LAND

Can Arsenal ladies do this.....

People are really suffering.......

•Dreams of 2023 now nightmares of 2025
•Three things President must do NOW!
“(Political) Promises, like (biscuits) are made to be broken.” (slightly amended).
Jonathan Swift, 1667-1745. VANGUARD BOOK OF QUOTATIONS, p 203.

Special Report By Dr Dele Sobowale


INTRODUCTION
Anticipating this two years report on the promises and performance of the Tinubu istration, our small Consultancy undertook a study by sending out a Questionaire on the Performance of the Federal Government.


Two questions were asked; each requiring Yes or No answers:
Is your life better today than two years ago? Yes or No
Do you expect things to get better in two years? Yes or No The short questionnaire was istered nationwide verbally to people of different ages, ethnic groups, religions, gender and income class in all the six zones of Nigeria.
The answer to the first, not astonishing, was 3 per cent Yes and 97 per cent No. Surprisingly, the answer to the second was 1 per cent Yes and 99 per cent No. Together they reflect a nation in which the people are not only miserable, but, they have lost hope in their political leaders everywhere.

Politicians and promises are two Siamese twins which can never be separated; and which almost invariably bring distress to the citizenry. Oftentimes, outlandish pronouncements are deliberately made, which even they know cannot possibly be true, in order to gather the votes for victory at the next election.

Almost invariably, they soon discover that what was promised during elections cannot be delivered on reaching office. To cover their tracks they quickly assemble the brightest and best media and public relations practitioners – they can lay their hands on – and give them their marching orders to create a propaganda machinery. This is therefore an attempt to assess the Federal Government, FG, as objectively as possible. As we know, “You cannot adopt politics as a profession and be honest.” (Louis M Howe, 1871-1936, VBQ p 192).

President Bola Tinubu finishes his second year in office in a few days. Everybody has had sufficient time to undertake a performance appraisal of the government he leads; and to determine whether or not he has done well. Examining some of the promises made in the RENEWED HOPE document and measuring them against actual performance is, perhaps, the best place to start.

PROMISES MADE IN 2023
“Great men and nations keep their promises.” US President George Bush, Snr.

Candidate Bola Tinubu, like others before him, was full of promises in the RENEWED HOPE document on which his campaign was based. A few specific pledges made are recalled below for the purpose of this performance appraisal.

Gross Domestic Product
Housing
Employment
Power Supply
Crude Oil Production
Security
Poverty
There are other aspects of our lives worthy of attention. But, the space and time available will not allow us to examine all of them in detail. Generally, the performance has been extremely disappointing in the first two years.

Tinubu came into office with a reputation for innovation and progress as a former Governor of Lagos State. But, as he finishes his half tenure in office, the acclaimed achievements in the past have become a distant memory. Right now all the indices seem to be pointing to work in process, at best; or outright failure at worst. These are the reasons for serious concern.

Related News
Tinubu doing well but should tackle insecurity — Sen Neda Imasuen
The hidden hands behind Boko Haram
2027 and the Tinubu Forever Choir, by Ugoji Egbujo
GROSS DOMESTIC PRODUCT
“He who speaks without modesty will find it difficult to make his words good”.

Confucius, 511-479 BC.
Perhaps not being in office was responsible for the gap between promise and performance regarding Gross Domestic Product, GDP. On the other hand, the RENEWED HOPE document might represent another instance of politicians promising more than they can deliver. The chart below would suggest deliberate and successful attempt to deceive Nigerians.

To begin with, the Nigerian economy has never grown at 10 per cent since records were kept. The best performance occurred during Gowon’s era when the GDP grew at 7 per cent for two years – 1973 and 1974. The second best was during Yar’Adua’s istration when the growth rates were approximately 6.5 per cent.

Why candidate Tinubu promised 10 per cent growth rate in 2023 to 2027 is a mystery only the President can explain. It was bad enough to promise it for one year; to extrapolate that level of growth for four years was over-optimistic at best; and coldly deceptive at worst. The real performance proves how far off the mark the government has been – rendering the document worthless henceforth.

In 2024, the actual GDP growth was 3.6 per cent instead of 10 per cent. The most optimistic forecast for 2025 is 3.0 per cent. Real GDP was US$199.72bn instead of US$586.7bn in 2024; it is projected to be US$188.27bn instead of US$645.3bn by year end.

GDP PROJECTIONS AND ACTUAL
GROWTH REAL GDP
PROJECTION ACTUAL PROJECTION ACTUAL
2024 10% 3.6% US$ 586.7bn US$ 199.72bn
2025 10% 3.0% US$ 645.3bn US$ 188.27bn
Since the facts speak for themselves, no further comments are necessary.

HOUSING

Whoever wrote the section on housing in the RENEWED HOPE document must receive the national award for drivel. Starting with 4.0 units of housing in 2023, Tinubu projected doubling the housing stock in 2024 and adding 4 units every year until 2028 when it would peak at 24 – or six times what we started with. Apart from the absence of metrics – is it 4 thousands, millions or billions? – the promise defies the verdict of history. No nation doubles its housing stock in one year or multiplies it by six in five years.

As lawyers say, “You can’t build something on nothing”. Tinubu started with nothing on Housing; and the nation has achieved next to nothing. In actual fact, more housing units might have been demolished by the Federal Capital Territory Minister and state governments than they collectively built.

UNEMPLOYMENT
“Lies, damned lies and statistics” was the how Mark Twain, 1835-1910 regarded Statistics which were in their infancy in his days. It might remain unchanged.

When the truth became too embarrassing on rising unemployment, the National Bureau of Statistics, NBS, came to the rescue. NBS redefined employment; and declared only 4.3 per cent unemployment in Nigeria. Unknown to the statisticians at NBS, classical economics regards 4 per cent as full employment in an economy. Nigeria therefore must be the only nation in the world enjoying full employment. This was one damned lie with a very short expiry date.

Again, the promise is as clear as pure water. Tinubu’s government would create millions of jobs such that by 2025, more Nigerians would be employed than in 2023.

Nothing is more dangerous than a convincing illusion. Because millions of Nigerians were unemployed, it was easy for the pledge to be swallowed unexamined. Reality intruded rudely on May 29, 2023, when President Tinubu announced that “fuel subsidy is gone” and “exchange rates deregulated”. Within two months more Nigerians had lost their jobs than at any point in Nigerian history.

Today, despite the absurd position of the politicised National Bureau of Statistics, NBS, which declared one hour of work a week as full employment, the number of unemployed Nigerians is estimated at close to 47 million.


POWER SUPPLY
“Every economy runs on power supply.” That is an axiom of economics. And, it is not surprising that every nation with larger GDP than Nigeria’s also generates and distributes far more power. The current wishful thinking about becoming a $1 trillion economy flies in the face of the global truth. Two nations, Switzerland and Saudi hovering around $1 trillion generate and distribute 73.6TWh and 423TWh of electricity respectively, Nigeria generates 11TWh and distributes under 5TWh two years into the tenure of the Tinubu government.

The promoters of the illusion of $1 trillion economy by 2030 are clones of the false vendors of VISION 2020 until the year came and went and Nigeria has lost ground in GDP ranking. Now we are farther away from top 20 than in 1993.

Power generation has improved; but supply has been stagnant. GDP growth in 2023, 2024 and prospectively 2025 reflect the lack of significant progress on power supply. The people have lost; Discos and governments have gained with over 200% tariff increase in two years.

CRUDE OIL PRODUCTION
“Our history shows that the Oil and Gas sector is not the answer to our economic problems…” RENEWED HOPE document p 33.

That was the truth. Still Tinubu established several goals.
” Increase crude oil production to 2.6mbpd by 2027 and 4mbpd by 2030.
” Increase indigenous share of crude oil production to 1mbpd by 2027.
” Achieve stability of petroleum product supply by fully deregulating the downstream sector and ensuring that local refinery capacity will meet domestic consumption needs.


Like most of the promises made by candidate Tinubu, the goals were riddled with illusions. The promise to increase crude production ignored the global flight away from fossil fuels and the frantic search for alternative energy sources. By 2023, it was clear that aggregate demand for crude oil products would decline in the medium term and collapse in the long term.

Furthermore, a glance at our record of crude production in the last ten years would have cautioned a serious presidential candidate.

Nigeria has averaged slightly less than 1.5mbpd for more than ten years. Production capacity would not result in 2mbpd, not to talk of 2.6mbpd – without huge investments. Meanwhile, the International Oil Companies, IOCs, were divesting in response to global realities.

Nigeria remains a member of OPEC; and the nation is bound by its quota restrictions – which were not likely to reach 2mbpd.

Who then would invest to bring production to 2.6mbpd in 2027? Who would buy the crude if produced? The facts are here to destroy the most stubborn illusions regarding crude oil production.
“80m barrels of Nigerian crude unsold in global glut.”


BUSINESSDAY, APRIL 25, 2025.
Is it the nation which is having difficulties selling its crude, with production below 1.5mbpd which will produce 2.6mbpd? Or 4mbpd?
The day dreams of 2023 have become the nightmares of 2025 on oil.

SECURITY

“The fundamental responsibility of government is to protect the lives and property of its citizens. We will mobilise the totality of our national security, military and law enforcement assets to protect all Nigerians from danger and from fear of danger..” RENEWED HOPE DOCUMENT p 5.

If only wishes and good intentions are enough to guarantee excellent governance, Nigerians should be sleeping with their two eyes closed now. Unfortunately, good intentions are never enough. Nigeria is now more insecure than in 2023. Two unprecedented events render that as the obvious conclusion. In early May, Northern Governors Forum convened a meeting to discuss what the elected leaders of Arewa could do to check the intractable insecurity in the region – which has clearly gone out of hand.

Even the rubber-stamp National Assembly, NASS, discovered its spine. They plan a Security Summit; which the Minister of Defence first opposed and later capitulated. Irrespective of the outcome of the Governors’ meeting and the NASS Summit, the message is very clear.


Governors and the NASS no longer believe that the Commander-In-Chief, C-I-C, of the Armed Forces is leading the country the right way on security. It was a subtle vote of no confidence. The lack of trust in the President might become more open if the situation does not improve.

The signs are ominous. In 2023, the nation was reeling under resurgent attacks of Boko Haram, herdsmen, kidnappers, ethnic warlords and other violent groups. Today, two new violent groups have entered the fray; and Boko Haram increasingly attacks military formations in Borno State – inflicting heavy casualties on the armed forces themselves. “Who will guard the guards themselves?” (Seneca). That question was never asked before.

The recent dispute between NASS from the Northeast and the Army regarding how well armed Boko Haram and the Nigerian army is symptomatic of how confidence in government’s ability to secure the nation has declined in two years.

WHOSE GOVERNMENT IS THIS?
“Governments are best classified by considering who are the “somebodies” they are endeavouring to satisfy.” Alfred North Whitehead, 1861-1947.

The RENEWED HOPE document promised serially to work for the masses of Nigeria. Despite the fact that Tinubu was elected by the smallest number and percentage of votes since 1999, virtually all those votes were cast by the middle and low income classes, as well as the poor and destitute – based on pledges made to them. Two years into his tenure the most important question is: who are the people the government has been satisfying?


Since journalism is the first rough draft of history, the facts confronting us are unassailable. Two years of Tinubunomics has impoverished the middle and low income classes, as well as those living in multi-dimensional poverty more than in 2023. The economic decline of the suffering masses has been summarised as follows: “By 1985, 25 years after independence, Nigeria’s GDP per capita declined to $868. By 2010, it grew to $2,120, but by 2024, it plummeted to $824, the lowest since independence.

Essentially, Nigerians were much better off at independence than they are today”. Dr Akinwunmi Adesina, President African Development Bank.
Nigerians alive in 1960 did not need Akinwunmi to tell them that the last two years have brought the worst economic distress to the vast majority of people including pensioners – who worked for 30 or more years and are now wallowing in abject poverty – than at any time in our history.

Meanwhile, who were the beneficiaries of the government’s economic policies? Top on the list are bankers, insurance companies, Oil and Gas companies, Discos, GSM operators, Customs Agents and Foreign Exchange dealers. Less than one per cent of people constitute the beneficiaries of a reform agenda that was ill-conceived and is being badly executed. Coherence is lacking; monetary and fiscal policies work at cross-purposes and the co-ordinating Ministry operates on the Peter Principle – which might explain how we got into this socio-economic quagmire which was not promised in RENEWED HOPE.

YESTERDAY’S MEN FOR TODAY’S PROBLEMS
“Employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent, as skills in one job do not necessarily translate to another.” Peter Principle summarised by Wikipedia.

Every government, like any team, is only as good as the individuals comprising the team and the team manager – plus the motivation for playing. Nigeria’s present predicaments had their origins in governments before the current one. Basically, the most important positions – Finance, Petroleum, Power, Transportation, Aviation, Security, Education and Central Bank – have been handed to people for political/ethnic reasons – not competence.


Start with finance. Buhari’s two Ministers of Finance could not have ed a final year examination in any Economics department – given their utterances. When Tinubu tapped his former Commissioner for Finance in Lagos State in and the Commissioner for Economic Planning, when he was Governor, 1999-2007, he failed to realise two important things.

First, Lagos is not Nigeria, and vice versa. An excellent Commissioner in Lagos might lack the competence to be a Federal Minister. Second, the world and Nigeria’s economic environment has been altered radically since 2023. Crypto currencies were unheard of then; and dollar dominance was not in contention. A competent Minister of Finance or CBN Governor must possess up to date hands-on experience regarding where we are in relation to global dynamics. The brightest and the best in Lagos in 2007 might constitute a distinct liability in office today.

For reasons too complex to explain now, the government’s fiscal and monetary policies are delivering the greatest pain to the largest numbers of Nigerians. Certainly, this was not the promise made to the people. Furthermore, government seems to be bereft of ideas regarding the way forward.

So, permit me to offer three simple suggestions.

WAY FORWARD
One, throw away the RENEWED HOPE document. It was at best fiction raised to state level of state policy. No professional economist would promise 10 per cent annual GDP growth from the low base of 3.6 per cent. Only politicians do that sort of thing.

Two, reduce the number of Ministers; downsize the federal government, including the Presidency. At less than $60 per barrel, Nigeria cannot afford 48 Ministers and 300 Special Advisers to the President.

Third, get a new team. Learn from football. A losing team is disbanded and fresh legs brought in. Your current team have done their best. But, their best is not good enough. “Nigeria beats war-ridden Sudan to emerge capital of malnourished children in Africa.” Peoples Gazette, May 7, 2025.

How bad must things get before government its failure?

https://www.vanguardngr.com/2025/05/tinubu-at-midterm-who-are-the-people-govt-is-satisfying/

Twenty suspects have been arrested for hacking the 2025 Computer-based test examinations conducted by the t issions and Matriculation Board (JAMB).

ment

The suspects were nabbed by operatives of the Department of State Services (DSS) and the Nigerian Police Force, in Abuja,

The suspects are part of a syndicate believed to have over 100 persons, who specialize in hacking the computer servers of examination bodies like JAMB and the National Examinations Council (NECO).

According to security sources, the suspects have confessed to sabotaging the CBT system in order to discredit JAMB and discourage students from using CBT for future examinations to be conducted by NECO and the West African Examination Council, WAEC.

The entire hacking process was to influence high scores for special candidates who paid between ₦700,000 and ₦2 million.

ment

It was gathered that several of the syndicate own private schools and colleges, and make huge sums of money from their special centres.

READ ALSO: JAMB Registrar Fights Tears, Apologises For Errors In 2025 UTME

This comes two weeks after JAMB released the 2025 UTME results.

An analysis showed that more than 78 per cent of candidates scored less than 200 points out of the 400 maximum points obtainable.

ment

On May 14, Ishaq Oloyede, JAMB registrar, said that the results of 379,997 candidates across 157 centres in its Lagos and south-east zones were affected.

He cited faulty server updates that prevented candidate responses from being ed during the first three days of the exam.

Oloyede said the problem, which was caused by one of its technical service providers, went undetected before the results were released.

The board conducted a resit examination, starting from May 16 and extending beyond May 19.


https://www.channelstv.com/2025/05/23/breaking-dss-police-arrest-20-for-allegedly-hacking-utme-results/

Congratulations to Napoli.....

Arsenal plays already relegated Southampton......
Next season will be better...... #COYG.....

COYG.....
Women Arsenal

Nlfpmod, not easy to Japa because of high Exchange rates....

Nigeria has emerged as the second-highest source of long-term migrants to the United Kingdom, UK in 2024, according to the latest figures released by the UK’s Office for National Statistics (ONS).

The data shows that 120,000 Nigerians moved to the UK within the year ending June 2024, placing the country just behind India, which recorded 240,000 immigrants.

The report focused on non-EU+ nationals, that is, those outside the European Union and other key European countries, and examined their demographic characteristics, reasons for migration, and nationalities.

It revealed that Nigerians, alongside other top-ranking nationalities, were part of a significant movement of people who came to the UK primarily for work and education.

Top 5 Non-EU+ Countries of Origin
India – 240,000
Nigeria – 120,000
Pakistan – 101,000
China – 78,000
Zimbabwe – 36,000

Demographics of Migrants to the UK
The profile of non-EU+ migrants shows a relatively balanced gender distribution—52% male and 48% female.

A large majority (82%) of these migrants are of working age, between 16 and 64 years.

Children under 16 ed for 17% of migrants, while only 1% were aged 65 or older.

Why They Came
According to the ONS, the largest share of non-EU+ nationals, 417,000 people, migrated to the UK for work-related reasons, including skilled and seasonal employment.

This was closely followed by study-related immigration, which brought in another 375,000 individuals.

These patterns reflect the UK’s demand for foreign labour and its appeal as a global education hub.

Other reasons for long-term immigration among non-EU+ nationals in the same period include:

5 countries with the highest net migration
asylum: 84,000, family reasons: 76,000, humanitarian routes and resettlement: 67,000.

https://www.vanguardngr.com/2025/05/japa-nigeria-ranks-2nd-among-foreigners-who-migrated-to-the-uk-in-2024-see-top-5