Wale Edun, the minister of finance, says over 600,000 households have benefited from the direct cash transfer programme of the federal government following the resumption of payments.

Edun spoke on Thursday in Abuja during the half-year review ministerial press briefing, themed, ‘Economic Recovery and Growth: Progress and Prospects 2024’.

On July 18, 2023, President Bola Tinubu ordered an immediate review of the conditional cash transfer scheme — an intervention initiative coordinated by the national social investment programme agency (NSIPA).

The president later suspended all programmes administered by NSIPA for six weeks, as part of a probe of alleged malfeasance in the management of the agency and its programmes.

During a radio interview session in Kaduna, Mohammed Idris, the minister of information and national orientation, disclosed the federal government’s plan to resume the intervention schemes.

Speaking at the press briefing, the minister reiterated Tinubu’s commitment to the welfare of ordinary Nigerians and the government’s efforts to ensure transparency and accountability in its social protection initiatives.

“Following the resumption of payments, over 600,000 households have already received this direct transfer this week,” Edun was quoted as saying in a statement by in a statement on by Mohammed Manga, the ministry’s director of information and public relations.

Edun said the government has made significant strides in its economic reforms, “well on its way to achieving a step-change in the revenues of the government; closely in line with the budget for 2024”.

He also announced the government’s exit from the ways and means borrowing mechanism, highlighting successes of the government’s reforms while citing a projected budget deficit of 4 percent in the 2024 fiscal year.

Edun acknowledged the temporary hardships caused by the reforms but assured that Nigerians would soon benefit from the expected outcomes.

He said the government’s “well-coordinated economic policies are beginning to yield results, evidenced by the deceleration in inflation growth, a rise in foreign investments compared to the same period last year”.

The minister said one of the major priorities of the incumbent government in the immediate term is to reduce food prices and focus on providing all the necessary support to increase local food production, given the impact of high food prices on inflation.

He said efforts are underway to achieve this goal.

The minister said with the outcome of the first half of 2024, “the economy is turning the corner.”

Edun added that with macroeconomic stability, the economy is being well positioned for sustained and inclusive growth that creates jobs, lifts millions out of poverty, and drives domestic and foreign investments that would improve the general wellbeing of the average Nigerian.

The Federal Capital Territory Command of the Nigeria Police Force has deployed 4,200 policemen in Abuja ahead of the planned nationwide protest.

The spokesperson of the FCT Police Command, Josephine Adeh, in a statement on Friday, disclosed that the deployment was to ensure public safety, protection of protesters and to prevent the protests from being hijacked by non-state actors.

Adeh added that Police operatives deployed include explosive ordinance device experts at various strategic locations.

She added that there would be raids on identified black spots, uncompleted buildings/shanties, and stop and search operations, among others, in collaboration with sister security agencies.

The operatives of the FCT police command have intercepted a four-member syndicate while attempting to snatch a black Prado Jeep from the owner around Capital Hub in Jahi, Abuja.

The FCT command on Friday disclosed that the operation led by the Divisional Police Officer (DPO) of Mabushi led to the arrest of two and the death of two as well.

The statement read partly: “On sighting the police operatives, the hoodlums opened fire, which resulted in a gun duel, but were over power by the police, as two suspects, Joshua Godfrey A.K.A. Dogo 44yrs and Abdulsalam Mamuda 29yrs both of Mabushi village, were arrested, while the two others were neutralised by the police, their blue Toyota Matrix operational vehicle with Reg. No. BWR 626 JB, was recovered.

“The two arrested suspects subsequently led police operatives to the recovery of another red Toyota Corolla car with Reg. No. RBC 743 AH, which must have been snatched from an innocent resident.

“Exhibits such as arms, cutlass, dagger, scissors, and mobile phones were recovered from them.”

The FCT commissioner of police FCT, Benneth Igweh, while reaffirming the command’s commitment to ensuring the safety and security of lives and properties, urged residents and all medical facilities in FCT to be on watch out and to call the attention of the police to anybody sighted with bullet wounds.

The United Kingdom has reaffirmed its commitment to enhancing the educational experience for international students, promising a more welcoming environment under the new government.

Naija News reports that the phenomenon known as the ‘Japa Syndrome’ has seen many skilled Nigerians and students leaving the country for better opportunities abroad, including the UK.

Speaking at the Embassy Education conference, Bridget Phillipson, the Secretary of State for Education, highlighted the UK’s dedication to strengthening international educational ties.

“We aim to refresh existing partnerships and cultivate new ones globally. Education can be a bridge between our nations,” she stated.

Addressing past inconsistencies in policies towards international students, Phillipson acknowledged that previous governments had sent mixed signals and often used international students for political leverage.

She criticized the former administration for treating international students as “political footballs” instead of appreciating them as valued guests. Despite their substantial tuition contributions, international students often faced resentment.

Phillipson assured that the current UK government would adopt a more supportive and consistent approach toward international students.

She emphasized that international students are welcomed in the UK and that the government values their contributions to the academic community and society at large.

Phillipson highlighted a desire to create a supportive environment where international students can thrive, stating, “Britain welcomes those who come to study and meet our requirements.”

Phillipson also highlighted the importance of international partnerships in spreading educational opportunities worldwide. “Our global partnerships are vital for expanding opportunities. By collaborating, we can make significant progress globally,” she said.

Recognizing the courage of international students, Phillipson praised their bravery in adapting to a new culture away from their homes and families.

She expressed pride in the UK’s appeal as a destination for these students and pledged government support for their academic and career success.

The Secretary of State for Education outlined the post-study opportunities available to international students, emphasizing the UK’s commitment to facilitating their transition into the workforce.

She mentioned that international graduates can remain in the UK on a graduate visa for two years, or three years for PhD graduates, allowing them to work and contribute to the community.

Phillipson concluded by acknowledging the significant cultural and economic impact of international students on the UK.

“The UK wouldn’t be the same without them. Arts, music, culture, sport, food, language, humour – international students drive dynamism on so many levels. And of course, their contribution to the British economy is substantial.

“Each international student adds about £100,000 to our national prosperity. This impact is not just a national statistic. It’s felt in towns and cities right across the country,” she remarked.

President Bola Tinubu has acknowledged his participation in various protests throughout his political career but stressed the importance of maintaining non-violence during demonstrations.

The President made these remarks while receiving the Letter of Credence from the newly appointed United States Ambassador to Nigeria, Mr. Richard Mills Jr., at the Presidential Villa in Abuja.

During the ceremony, President Tinubu emphasized the critical role of peaceful protests in a democratic society, highlighting that they are a fundamental aspect of democracy and a legitimate way for citizens to express their grievances.

However, he noted that no government would tolerate protests that escalate into violence, leading to the destruction of lives and property.

The President reiterated his commitment to sustaining democracy and its institutions in Nigeria, ensuring that citizens’ rights to peaceful assembly and expression are protected.

He expressed optimism about the continued partnership between Nigeria and the United States, particularly in areas of democratic governance and institutional support.

The President said, “Our relationship with America is rich. We believe in democracy and freedom. Some of your predecessors worked hard during our transition to democracy, and we remember the likes of Ambassador Howard Jeter.

“We look forward to Nigeria and the United States continuously working to expand cooperation on shared goals and democratic values.

“During the military era, we made our voices heard against dictatorship, and I was part of the group that engaged in peaceful protests without resorting to the destruction of property. We have worked hard to ensure 25 years of unbroken democracy, and I will continue to maintain this democracy.”

The President said in as much as he believes that demonstrations are part of democracy, “we will never encourage any protests that lead to the destruction of lives and property”.

Welcoming the U.S. State Department’s acknowledgement of Nigeria’s strategic role on the continent as Africa’s largest democracy, President Tinubu called on the U.S. government to pay more attention to Africa.

He further stated, “Nigeria is ready to play its role as the largest democracy in Africa that is worthy of emulation to other African countries, but we need more U.S. partnership on the continent that is beneficial to both sides. We believe in freedom, and we are providing the leadership to make Nigeria’s economy grow.”

Ambassador Mills affirmed U.S. support for Nigeria’s democracy and pledged support for bigger roles for Nigeria in the international arena.

Mills said, “Nigeria is crucial to the United States because we share democratic values, and we are ready to give you all the support.

“I am here to make sure that the relationship blossoms both on democracy and the economic side.”

Expressing the United States’ commitment to expanding cooperation with Nigeria on cybercrimes, the Ambassador announced the establishment of a special office at the Embassy to work closely with the Economic andF inancial Crimes Commission (EFCC).

President Bola Tinubu on Thursday, held a meeting with traditional rulers in the country as part of efforts to avert a planned nationwide protest.

The meeting, which held in the State House, Abuja, had in attendance prominent monarchs, including the Sultan of Sokoto, His Eminence, Muhammad Sa’ad Abubakar III, and the Ooni of Ife, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi.

During the meeting, President Tinubu reiterated his commitment to making Nigeria a better place for all and sundry, noting that he asked for the job and he is ready to do it. According to him, he has accepted all the liabilities of his predecessors.

The President declared during the meeting that his administration is not afraid of the protest, but is worried about what may happen to ordinary Nigerians if the protest goes ahead.

According to him, the destruction which happened in Lagos during the famous #EndSARS protest in 2020 are still fresh in his memories.

The Nigerian leader stressed that he is committed to doing more to meet the needs and aspirations of the people, even as he noted that the nation’s economy is on a gradual but steady path of recovery.

“Yes, it is true that I asked for this job, and I approached some of you to support me. So, I have no excuse not to do the job with sincerity of purpose and honesty. I have committed myself to it diligently, and I will never look backwards.

“I have accepted the assets and the liabilities of my predecessor. How I will take Nigeria forward should be my concern, and that is my concern.

“I have been extremely busy. The only exercise I have had here is the walk from the residence to this place and then continue with the work.

“Nigeria is hilly, and it is the largest democracy in Africa. No other democracy comes close to us in terms of population on the continent. We cannot blame God for giving us these children, and we have to seek peace and better livelihoods,’’ the President said as quoted in a statement by his spokesperson, Ajuri Ngelale.

President Tinubu went ahead to list some of the actions taken by his administration to ease the burden on Nigerians.

He identified the student loan programme, the consumer credit scheme, and the affirmation of fiscal autonomy for local government councils, saying the Ministry of Finance will continue to ensure that funds go to the grassroots for human and infrastructural development.

“Today, the Bank of Agriculture is empty. We have to reactivate it. If they are not talking about flooding, they are talking of banditry. We have to start all over again. Yes, infrastructural decay is there.

“The Lagos-Calabar coastal road is not being done without studies. It is an economic energizer. From it, we can create infrastructure along the route to develop wind energy and generate power, and we can expand our irrigation network.

“The economic viability of infrastructure has to be studied before we embark on projects. How many dams are there on the corridors of Sokoto- Badagry? From there, we can energize electricity. We can do irrigation and additional farms.

“Even if it is two million hectares of arable land, you can create opportunities for farmers on a small scale. Then you have to find capital for them.

“Nigeria is on the path of recovery. You have heard it from the Minister of Finance, Mr. Wale Edun. We are not afraid of protests. Our concern is the ordinary people, and the damages that will be done. Till today, I cannot forget the brand new 60 and 100 seater buses, down there in Lagos that were burnt down, and we are now complaining of transportation. That is the problem. That is why I must say thank you for talking to the citizens,’’ the President told the traditional rulers.

President Tinubu submitted that security is getting better in Nigeria and the foot would not be taken off the pedal.

“Security is getting better, but we cannot take our eyes off the camera because it takes one accident for things to flare up. We are managing it.

“We have created instruments to support the students so that they get education, consumer credit to expand the economy, to improve the purchasing power of the people in order to rejuvenate the economy within a short period of time. We are still recalibrating our oil usage,’’ the President stated.

President Tinubu said he will continue to explain the economic reforms and projected benefits to the nation, adding that he remains open to dialogue for the development of the country.

President Tinubu urged the royal fathers to reach out to citizens on the genuine intentions of the government to deliver on its promises of Renewed Hope.

“Now, we are sending money to the local governments. I addressed the governors today on that issue. I have been distributing fertilizer, rice, and other items to support the recovery of citizens. I assure you, Nigerians, we are looking at the light at the end of the tunnel. I can assure you, this economy will be revived, will survive, and prosper,’’ the President emphasized.

In his remarks, the Sultan of Sokoto said: “I believe that this brief meeting will clear some issues that many people have in their minds. At our meeting on Monday, we had a very open discussion on all issues affecting the nation. We are the ones who will tell you the truth about what is happening in our various communities.’’

The royal father said an executive council meeting was held on Monday, and the Council, composed of all State Chairmen of the 36 States and the FCT, met to deliberate on the economy.

The Ooni of Ife thanked the President for inviting the National Security Adviser, Mallam Nuhu Ribadu; the Minister of Finance and Coordinating of Minister of the Economy, Mr. Wale Edun, the Minister of Budget and Economic Planning, Mr. Abubakar Atiku Bagudu, and the GCEO of NNPCL, Mele Kyari, to brief the traditional rulers on the state of the economy.

“We heard from the GCEO of NNPCL. They are the ones that propel our economy. We have heard from the Minister of Finance. We also heard from the Minister of Budget and the NSA. We want to encourage you, Mr. President, we will all get back to our various communities and let our people know because none of us locks our palaces,’’ the Monarch added

..I Spent My Personal Money For Elections 

The President of Nigeria, Bola Tinubu, has declared that his administration is not under the control or influence of any cabal.

The President stated that he spent his personal fortunes for election, and, therefore not responsible to any cabal under whatever guise.

Tinubu said that even though the banks were closed during the campaign period, God gave him victory and made him the President of Nigeria.

Naija News reports Tinubu stated this on Thursday when he hosted a delegation of Islamic leaders led by Sheikh Bala Lau, at the State House in Abuja.

He said, “I have no cabal. I have no sponsors. The money I spent on the elections was my personal fortune. At some point, the odds were against me; banks were locked. But Allah, the Almighty God, said I will be the President. Mine is to now follow the leading and teaching of the Almighty God.

“One of the most potent elements of defence is a good conscience. It is also a defence against corruption.

“What should be uppermost in our minds is the future of our children. We have a lot to teach them on what it takes to be a good citizen and what it takes to be a responsible citizen.’

Planned Protest

On the planned nationwide protest by some groups, President Tinubu urged the organizers to have a change of heart, noting that protests, fuelled by anger and hate, could degenerate into violence and set the country backwards.

He assured of the commitment of his government to meeting the needs of Nigerians.

“We are reworking the social welfare scheme to reach the ward level, which is the closest to our people. We are going to ensure that we re-establish connection with the wards, again, so that we can give allowances to the poor and the vulnerable.

“The student loans will pay for school fees. There will be monetary support for the education of our children. The consumer credit will support citizens to buy cars and houses, and they can repay gradually.

“We have increased the minimum wage by more than 100 percent,’’ the President said.

President Tinubu also accused the sponsors of the planned protest of putting their selfish ambitions above the national interest.

“The sponsors of protests do not love our country. They have no love for the nation. They do not understand citizenship. They have alternative passports. They are in different parts of the world holding meetings virtually.

“We do not want to turn Nigeria into Sudan. We are talking about hunger, not burials. We have to be careful. We should be careful with premature politics; politics of hate, and anger. The internet has made it possible to hold meetings in artificial settings. They hold meetings and sponsor anger,’’ the President told the clerics.

In his remarks, the leader of the delegation, Sheikh Bala Lau, assured the President of support

with prayers and more sensitization.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has insisted that the federal government is no longer paying subsidy on petrol.

He made the assertion on Thursday during a media briefing in Abuja.

According to him, since President Bola Tinubu declared an end to the fuel subsidy regime on May 29, 2023, the government has not made any provision in the budget for subsidy payment and has not made any subsidy payment outside the budget as well.

“Mr President said on May 29 that subsidy is gone. Subsidy is gone. We do not have a line in the budget for subsidy payment. We do not have payments being made whether in the budget or out by the federal government of Nigeria or even the federation directly for subsidy,” Edun said.

He submitted that what has been happening is a situation where the Nigeria National Petroleum Company Limited (NNPCL) is carrying the burden of the spike in exchange rate variation as part of its responsibility to ensure the availability of petrol in the local market.

The position of the Minister is coming at a time the Major Energies Marketers Association of Nigeria recently said, the landing cost of Premium Motor Spirit (PMS), also known as petrol, was ₦1,117/litre as of July 16, 2024.

The figure was based on the prevailing rate of ₦1,500 per one US dollar in the nation’s exchange market.

The claim by the marketers is yet to be rebuffed by the federal government.

As the planned ‘EndBadGovernance’ protest slated for August draws close, President Bola Tinubu on Thursday entered an emergency closed-door meeting with top traditional rulers, security top brass in his government and governors of his party, the ruling All Progressives Congress (APC). 

The high-delegation meeting was held at the State House in Abuja, the nation’s capital.

The APC governors were led to the meeting by the Chairman of the Progressives Governors’ Forum and Imo State Governor, Hope Uzodinma.

Some first-class traditional rulers were spotted at the meeting with the President. They include the Ooni of Ife, Oba Enitan Ogunwusi; the Sultan of Sokoto, Muhammadu Saad Abubakar III; and other traditional leaders across the country.

The meeting was also attended by the National Security Adviser (NSA), Nuhu Ribadu; Inspector General of Police, Kayode Egbetokun; as well as ministers and other members of the President’s cabinet.

A delegation of Islamic scholars (Ulamas) later joined the high-powered meeting with the President.

Last-Minute Efforts

Tinubu, former Lagos governor, who was sworn in as President in May 2023, has appealed to displeased youths to shelve the planned ‘EndBadGovernance’ protest slated for next month.

As part of moves to placate aggrieved citizens, the President sent a bill to raise the minimum wage from N30,000 to N70,000 to the National Assembly this week. Both chambers of the legislature speedily passed the bill on Tuesday, awaiting the President’s assent.

On Thursday, the military authorities warned that unscrupulous elements plan to hijack the protest and use it to stage anarchy like what was recently witnessed in East African country Kenya.

The police had also warned against bloody demonstrations come next month just as Uzodimma surmised that the protest could be hijacked and turn violent like the EndSARS nationwide protest against police brutality back in October 2020.

The protest against economic hardship, which is gaining traction on social media, has been scheduled to be held across all states of the Federation as well as the Federal Capital Territory (FCT), Abuja, in August. The organisers of the protest have been faceless.

Prices of food and basic commodities have gone through the roof in the last months, as Nigerians battle one of the country’s worst inflation rates and economic crises sparked by the government’s twin policies of petrol subsidy removal and unification of forex windows

Popular Nigerian actor, Kevin Ikeduba has opened up on his other plans if he was not in the movie industry.

The talented thespian revealed that he would be a drug baron if he wasn’t an actor.

He disclosed this while featuring on Hip TV programme, ‘Trending,’ recently.

The host, Pascal, asked: “If you weren’t an actor, what would you be doing?”

Ikeduba replied: “I would be a drug baron if I wasn’t an actor.”

Kevin Ikeduba made his Nollywood debut in the year 2000. He is best known for playing the role of notorious criminal in movies.