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“I grew Nigeria’s FX reserves from $3.7 billion to $45 billion, saved $25 billion in ECA” — Obasanjo
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Former Nigerian President Olusegun Obasanjo has recounted how he boosted the country’s foreign reserves from a meager $3.7 billion to $45 billion during his eight-year tenure.
Speaking in an interview with News Central, which aired on Thursday, Obasanjo disclosed that he inherited a heavy debt burden upon assuming office.
At the time, Nigeria owed $36 billion, with debt servicing costs amounting to $3.7 billion, while the foreign reserves stood at just $3.7 billion.
The former president explained that through persistent advocacy for debt relief from international creditors, the country’s debt dropped from $36 billion to $3.5 billion by the end of his administration.
Simultaneously, the nation’s reserves grew from $3.7 billion to $45 billion during the same period.
“When I came in 1999, I met $3.7 billion in reserve. And as I told you, we were spending $3.5 billion to service debt. That’s how we had. By the time I left eight years later, with debt relief.
“When I came in, we had a debt overhang of close to $36 billion. By the time I left, with the debt relief and clearing what we had to clear, the quantum of debt that I left was about $3.5 to $3.6 billion from over $3.6 billion or around $36 billion. At the same time, the reserve that was $3.7 billion went to $45 billion,” Obasanjo said.
Furthermore, the former president stated that he established the Excess Crude Account (ECA) to manage budget surpluses from crude oil sales, leaving a total of $25 billion in the account.
He explained that the budget during his administration was intentionally conservative, allowing them to save the surplus in the ECA.
“At the same time, we had what we called excess crude- this is the amount between what we budgeted that we would sell the crude oil and what we actually sell it, normally we are conservative in the budget- we had around $25 billion. When you add that to reserve, we are talking of $70 billion,” Obasanjo said.
Funds depleted years later
Obasanjo further lamented that the savings accumulated in the treasury were depleted after he left office.
He noted that 17 years later, from 2007 to 2024, Nigeria now owes more in international debt than it did in 1999 when his administration sought debt relief.
According to him, this situation is the result of fiscal mismanagement and a lack of accountability in leadership and public service.
“The point is that I left in 2007 and today in 2024, just 17 years after, all that amount of money has gone. Not only that, but all the money they made during that period had gone.
“Today, we owe more than we owed when I came to government in 1999. Why? Poor leadership, poor management of the economy, corruption galore, and abrasive corruption which is also part of poor leadership.
“Not given consequences; that when you do something wrong, you have consequences. I call it lack of consequences and impunity,” Obasanjo added.
What you should know
In recent years, Nigeria has grappled with a severe fiscal crisis driven by poor economic management, a soaring debt profile, and rising debt servicing costs.
- These challenges have strained the country’s reserves, intensified foreign obligations, and depleted the national treasury.
- By the second quarter of 2024, Nigeria’s debt had surged to N134.3 trillion, the highest in its history. Meanwhile, data from the Central Bank of Nigeria (CBN) revealed that the Excess Crude Account (ECA) holds only $376,655, reflecting the country’s dwindling revenue prospects.
- The current CBN Governor, Yemi Cardoso, has prioritized rebuilding a robust reserve base. So far, the foreign reserves have increased to $39 billion, with a target of $40 billion by year-end.
- However, this strategy has come at a significant cost: reduced interventions to stabilize the naira, which has depreciated sharply to N1,700 per dollar, making it one of the weakest currencies in Sub-Saharan Africa.
[Nairametrics]
Some Governors in Nigeria have approved minimum wage higher than the benchmark approved by the Federal Government led by President Bola Tinubu.
Naija News reported that the Federal Government approved ₦70,000 after meeting with organised labour union.
Here are Governors ready to pay above ₦70,000 minimum wage:
1. Governor Babajide Sanwo-Olu (Lagos State) – ₦85,000
On October 16, 2024, Governor Babajide Sanwo-Olu announced a new minimum wage of ₦85,000 for Lagos State workers, ₦15,000 above the federal minimum. He cited the high cost of living in Lagos as a factor and expressed a goal to raise the minimum to ₦100,000 by January 2025.
2. Governor, Siminalayi Fubara (Rivers State) – ₦85,000
On October 18, 2024, Rivers State Governor, Siminalayi Fubara, approved the payment of ₦85,000.00 as the new minimum wage for civil servants employed by the State Government.
3. Peter Mbah (Enugu state) – ₦80,000
Enugu Governor Peter Mbah has approved ₦80,000 as the minimum wage for workers with immediate effect.
Mbah announced this at the Government House after receiving the report of the committee set up to look into the minimum wage issues.
“Today, I’m happy to announce a new minimum wage for workers in Enugu state, reflecting our fidelity to their welfare in regard of which we’ve been resolutely committed.
“We’ve approved the sum of 80,000 Naira to take immediate effect as the new minimum wage in Enugu State,” he said.
4. Governor Umo Eno (Akwa Ibom State) – ₦80,000
Akwa Ibom State Governor, Umo Eno, on Wednesday announced a new minimum wage package of ₦80,000 for public civil servants in the state.
Eno also constituted an Implementation committee with a mandate to deliver its report within one month.
A statement signed by the commissioner of Information and Strategy, Ini Ememobong on Wednesday, said the committee is chaired by the Head of the Civil Service, Effiong Essien.
Ememobong said, “Governor of Akwa Ibom State, His Excellency, Pastor Umo Eno, has announced that the State Government will pay a new minimum wage of ₦80,000 for all state government employees.”
5. Governor Mohammed Bago (Niger state) – ₦80,000
Niger Governor Mohammed Bago has approved ₦80,000 as the new minimum wage for workers in the State.
The minimum wage, however, would take effect from November, 2024.
Disclosing this to newsmen after an extensive meeting between the State Government and the Nigeria Labour Congress(NLC), the Governor said that the State would be able to sustain ₦80,000 minimum wage for its workers.
6. Sheriff Oborevwori (Delta state) – ₦77,500
The Delta state government officially announced that it would start paying a minimum wage of ₦77,500 to its workers from the end of this month.
The Secretary to the State Government (SSG), Dr. Kingsley Emu, announced this at a meeting of the committee of the new minimum wage with the leadership of the state’s organised labour, comprising the Nigeria Labour Congress (NLC), the Trade Union Congress (TUC), and the Joint Negotiating Council (JNC).
7. Governor Dapo Abiodun (Ogun State) – ₦77,000
Governor Dapo Abiodun approved a minimum wage of ₦77,000 on October 15, 2024, according to a statement by the Secretary to the State Government, Tokunbo Talabi.
8. Governor Nasir Idris (Kebbi State) – ₦75,000
Governor Nasir Idris on Wednesday, October 23 approved 75,000 naira as a new minimum wage for the state civil servants.
Confirming the development, the chairman of the Nigerian Labour Congress in the state, Murtala Usman, stated this while speaking with correspondents.
9. Lucky Aiyedatiwa (Ondo State) – ₦73,000
On October 12, 2024, Governor Lucky Aiyedatiwa announced a minimum wage increase to ₦73,000 for state workers during his campaign kickoff ahead of the November 16 governorship election.
10. Ahmed Ododo (Kogi State) – ₦72,500
Kogi State Governor, Usman Ododo, approved ₦72,500 minimum wage for civil servants in the state with immediate effect. The governor also suspended the tax burden on the approved sum for one year.
11. Muhammad Yahaya (Gombe State) – ₦71,500
Gombe State governor, Muhammad Yahaya signed an agreement with the Nigeria Labour Congress to pay ₦71,500 as the new minimum wage on October 15, 2024.
[NaijaNews]
CEO EbonyLife Media, Mo Abudu, has spoken against black tokenism in western films and the sacrifice of substance over shock value in storytelling across board.
Abudu revealed this in an interview with The Hollywood Reporter (THR) on October 22, 2024. The interview came after she was listed among THR 2024 Most Powerful Women In International TV.
According to Abudu, the practice of sensational content, which sacrifices substance over shock factor, and the tokenism, which sees black shows with slightly similar content struggle for a single opportunity must end.
“We need more depth, storytelling that connects emotionally, and narratives that resonate beyond the moment. It seems like black shows and features that may have slightly similar storylines only get one chance, and then that’s it for the next five years. This same logic never applies to ‘white’ shows.”
While women still struggle to prove their competency in spaces such as the media and entertainment industry, Abudu believes one should prioritize focus and letting the work speak for itself.
To ensure equality and diversity in the entertainment industry, she said, “there needs to be a continued focus on creating opportunities for underrepresented voices, particularly women and people of colour. This means not just hiring more diverse talent but also ensuring they have the resources and support to succeed at every level, from entry to executive roles.”
[Leadership]
The Senator representing Borno South, Mohammed Ali Ndume, has asked President Bola Ahmed Tinubu to sack more ministers who are underperforming to fastrack the implementation of his “Renewed Hope” agenda for the country.
In a statement on Saturday in Abuja, Ndume described the rejigging of the federal cabinet, and the establishment of the ministry of regional development to oversee all regional commissions in the country as a welcome development.
The lawmaker said, “More needs to be done because some ministers are still missing in action.”
Recall that President Tinubu on Wednesday reshuffled his cabinet by sacking six ministers and naming seven others. The president also swapped the portfolios of 10 other ministers.
Ndume, former Chief Whip of the Senate also called on President Tinubu to convene a national economic summit as part of efforts to proffer home-grown solutions to the economic situation in the country.
He suggested that former minister of finance, Ngozi Okonjo-Iweala; former minister of education, Oby Ezekwesili; Mansur Muktar, Akinwumi Adesina, Aruma Oteh and Tope Fasua, should drive the economic summit.
“This national economic summit should be purely led by these eminent Nigerians, and they will come up with recommendations instead of the IMF and World Bank’s prescriptions that are harsh and hard on the ordinary citizens.
“I believe if the recommendations are good, President Tinubu will implement them, and this will help the country in no small ways,” Ndume said.
The senator hailed the move by President Tinubu to reduce the cost of governance in the face of economic difficulties and urged other arms of government to do the same.
[DailyTrust]
The U.S. on Thursday sent a plane loaded with medical supplies to pick up Tigran Gambaryan, an executive of Binance Holdings Limited, from Nigeria.
As per The New York Times, Gambaryan departed the nation following the dismissal of money laundering charges against him by the Federal Government.
The Nation reported that the Federal Government discontinued the prosecution of official of Binance Holdings Limited, Tigran Gambaryan on money laundering related offences on Wednesday Oct 23.
Gambaryan was being tried with his employer, Binance before a Federal High Court in Abuja on a money laundering charge brought against them by the Economic and Financial Crimes Commission (EFCC).
On Wednesday, prosecuting lawyer, R. U. Adagba, told the court that the prosecution has decided to withdraw against the second defendant, Gambaryan.
US Secretary of State Antony Blinken stated that Gambaryan’s release reflects the commitment of both countries to collaborate effectively.
The statement reads: “The United States thanks the Government of Nigeria for releasing U.S. citizen Tigran Gambaryan on medical grounds, allowing him to return to the United States to receive the specialized medical care he requires.
“This positive outcome demonstrates the strength of the U.S.-Nigeria partnership and highlights our shared commitment to working together to advance our common interests. Our close law enforcement cooperation remains a cornerstone of our bilateral relationship, and the United States is committed to working closely with the Government of Nigeria to address mutual concerns and prioritize the safety and well-being of our citizens.”
Similarly, Jake Sullivan, the national security advisor at The White House, expressed that they were “pleased” to have facilitated Gambaryan’s release.
“I am pleased that American citizen and former U.S. law enforcement official Tigran Gambaryan has been released on humanitarian grounds by the Nigerian Government and is on his way back to the United States so that he can receive needed medical attention,” the statement reads.
“As soon as we secured Mr. Gambaryan’s release, I called his wife Yuki to share this good news. I am grateful to my Nigerian colleagues and partners for the productive discussions that have resulted in this step and look forward to working closely with them on the many areas of cooperation and collaboration critical to the bilateral partnership between our two countries.”
[TheNation]
Despite President Bola Tinubu’s relieving her of her duty as Minister of Women Affairs, Uju-Ken Ohanenye has resolved that she would “fight alongside” the President to fix Nigeria.
The former minister stated this in a statement on her official X.com account @BarrUjuKennedy on Saturday.
While pledging her commitment to Tinubu’s ‘Renewed Hope Agenda”, the former minister urged Nigerians not to lose hope but to be optimistic that Nigeria will be great again.
She said, “This is a test of time, a highly spiritual movement that no human being can stop.
“President Bola Ahmed Tinubu is destined to fix Nigeria and I, Barr Uju Kennedy will fight alongside him to the last.
“Let’s be optimistic Nigeria will be great! -Barr Uju Kennedy Ohanenye.”
Recall that on October 24, Ohanenye, in a letter of appreciation said she remained committed to serving Nigeria and will do her best to contribute to the nation’s progress and prosperity.
PUNCH Online reports that Ohanenye was sacked alongside the Minister of Tourism, Lola Ade-John; Minister of Education, Prof. Tahir Mamman; Minister of State for Housing and Urban Development, Abdullahi Muhammad Gwarzo; and Minister of Youth Development, Dr. Jamila Bio Ibrahim.
This was contained in a statement by the special adviser to the President on Social Media, Dada Olusegun, on Wednesday.
The statement also announced the re-assignment of 10 ministers to new ministerial portfolios; the nomination of seven new ministers for onward transmission to the Senate for confirmation; the appointment of Shehu Dikko as Chairman of the National Sports Commission; the appointment of Sunday Akin Dare as Special Adviser to the President on Public Communication and Orientation working from the Ministry of Information and National Orientation.
Bianca Odumegwu-Ojukwu was appointed as Minister of State for Foreign Affairs, while Jumoke Oduwole was named Minister of Industry, Trade, and Investment.
In a letter of appreciation made available to journalists on Thursday, the former Minister thanked President Bola Tinubu for the privilege to serve as Minister, describing it as an honour and privilege to have contributed to the nation’s development.
She said, “I write to express my sincere gratitude to President Bola Ahmed Tinubu for the extraordinary opportunity to serve as a Minister of the Federal Republic of Nigeria. It has been an honour and a privilege to contribute to the development of our nation.
“Uju Kennedy-Ohanenye thanks Tinubu for opportunity to serve.”
[Punch]
A man accused of impersonating an official of the Lagos State Traffic Management Authority (LASTMA), has been detained by LASTMA.
This was stated in a statement signed by Adebayo Taofiq, Director, Public Affairs and Enlightenment Department, LASTMA.
“In a resolute operation conducted by the Lagos State Traffic Management Authority (LASTMA), a man impersonating a LASTMA officer, Mr. Adewunmi Taiwo, age 45, was detained on the Oshodi Bridge.”
“This individual had been posing as an official to intimidate and extort funds from both commercial and private motorists in the vicinity.” the statement read in part.
“Operating a white Hiace Coaster Bus with the license plate KJA 724 YJ, Mr. Taiwo utilised this guise to harass drivers in the area. Upon a meticulous search of his vehicle, LASTMA Officers uncovered an official LASTMA uniform, including a branded raincoat, among his possessions, confirming his intentions to deceive.”
It was noted that the accused who is a married man with three children confessed to misusing the uniform to “extort unwitting motorists, targeting high-traffic routes along Ikorodu Road and the Oshodi to Mile 2 expressway. He further admitted to generating between N15,000 and N25,000 daily from these unauthorised activities.”
Addressing the incident, LASTMA General Manager Mr. Olalekan Bakare-Oki warned individuals who use the LASTMA uniform for fraudulent activities.
“I take this opportunity to issue a stern warning to individuals who exploit LASTMA’s identity for unlawful gains: any attempt to tarnish the agency’s reputation will be met with the full force of the law as the man will be charged accordingly." the statement read.
It is no longer news that President Bola Tinubu has sacked six ministers in a major cabinet reshuffle. The reasons he rejigged his team for the third time, technically, since he was sworn in on May 29, 2023, are raising dust in the polity.
Fresh insights on why the ministers were relieved of their duties emerged last night. Although, the Presidency said the ministers were axed based on the expectations of Nigerians, sources told Saturday Vanguard some of the ministers, apart from performing below expectations, had also become an embarrassment to the Tinubu Administration.
“The conducts of some of the ministers were antithetical to President Tinubu’s Renewed Hope Agenda. They were pitting the President against the masses and subjecting Nigeria to ridicule before the international community. How can a minister work against the President’s anti-corruption crusade and hope to remain in the cabinet? The sack was long overdue,” a close ally of the President told Saturday Vanguard.
Sacked ministers
The ministers shown the exit door on Wednesday were Mrs Uju Kenedy Ohanenye, Women Affairs; Lola Ade-John, Tourism; Prof Tahir Mamman, Education; Abdullahi Mohammed Gwarzo, State, Housing and Urban Devt; and Dr. Jamila Bio Ibrahim, Youth Devt. Betta Edu, Humanitarian Affairs and Poverty Reduction, who had earlier been suspended was left in the cooler.
Tinubu’s two earlier cabinet reshuffles
Tinubu raised dust with the way he went about forming his cabinet. To beat the 60-day time frame provided by the law, he first sent the names of 28 ministerial nominees to the Senate for screening and confirmation. While the senators were screening the first nominees he sent another 19 making 47. He, thereafter, made the first reshuffle by withdrawing the name of one of the nominees, Maryam Shetty, who went to the Senate for the screening not knowing that she had been dropped. He sent two more nominees including Festus Keyamo. Thus Tinubu sent 48 names for confirmation of which 45 were cleared.
Reshuffling cabinet before swearing-in
Tinubu also did the unimaginable by reshuffling his cabinet before swearing in the ministers he had earlier assigned portfolios.
A day before the swearing-in, President Tinubu adjusted the portfolios of four ministers-designate.
Those affected were former Osun State Governor Adegboyega Oyetola, who was to be sworn in as minister of Marine and Blue Economy. House of Representatives member Olubuni Tunji-Ojo, initially assigned to the ministry, took charge of the Ministry of Interior.
Alhaji Saidu Alkali, formerly assigned to the Interior Ministry, was sent to the Ministry of Transportation from where Oyetola was moved.
Mr Abubakar Momoh, who was earlier assigned Minister of Youth, took the oath of office as Minister of Niger Delta Development.
Two other ministers-designate, Heineken Lokpobiri and Ekperikpe Ekpo, had their portfolios adjusted as ministers of state in the Ministry of Petroleum Resources.
Betta Edu
President Tinubu suspended Betta Edu on January 8, 2024, after several groups and individuals demanded an unfettered probe of the leaked memo by the Minister of Humanitarian Affairs and Poverty Alleviation, instructing the Accountant-General of the Federation, Dr Oluwatoyin Madein, to pay N585m into the private bank account of a project accountant in her ministry, Bridget Oniyelu.
The minister claimed that the N585m payment was meant for vulnerable groups in Akwa Ibom, Cross River, Ogun, and Lagos states, and described the allegations against her as baseless.
The Media Assistant to the Minister, Rasheed Olarenwaju, said in a statement that it was legal within the civil service for such payments to be made into private accounts of staff members, especially project accountants.
Her claims did not move the President. She remained out of the cabinet.
Tahir Mamman
As Education minister, Mamman’s controversial 18-year limit for writing senior school certificate examinations and admission into tertiary institutions, which described as an “unforgivable sin.’
The National Co-ordinator of the Education for Accelerated Development, EDAD, Dr. Livinus ia Mbaonu, described Mamman’s sack as ”long overdue” because ”Mamman was on a mission to reverse the gains made in the education sector in recent times,” underscoring the urgency of his removal.
The EDAD listed 10 critical reasons for the minister’s dismissal, depicting a pattern of mismanagement and misinformation.
The sins included Mamman’s role in ”providing misinformation leading to diplomatic conflict,” which strained relations between Nigeria, Benin Republic, and Togo.
His claims about the accreditation of universities in Benin were inaccurate. He stated that only three institutions were accredited when over 50 hold this status, a move that hurt many Nigerian students in the affected countries.
Mamman was also accused of mishandling foreign students’ participation in the National Youth Service Corps, NYSC scheme, causing thousands to be denied entry into the programme.
Age limit policy for universities
The EDAD cited conflicts among major educational bodies, including the National Board for Technical Education, NBTE, and the Joint Admissions and Matriculation Board , JAMB, as a consequence of Mamman’s leadership.
Other ‘sins’ included inefficiencies in the accreditation processes, a controversial 18-year minimum age policy for university admissions that resulted in lawsuits, and alleged lack of cooperation with fellow officials, which contributed to operational inefficiencies within the Ministry.
Uju Kennedy Ohanenye
Uju Kennedy-Ohanenye, since her assumption of office on August 20, 2020, was arguably one of the most controversial ministers.
Her ‘sins’ included disrupting two ongoing events, which had guests and participants in attendance, because the events were not approved by her ministry.
The former minister, also engaged in an exchange of words with the House of Representatives Committee on Women Affairs and Social Development, over the alleged diversion of N1.5 billion meant for payment of contractors.
During an investigative hearing by the House of Representatives committee, to probe the N1.5 billion, which was said to be expended by the Ministry of Women Affairs, the minister, at a stage, flared up, saying that only 30 per cent of the N1.5 billion was paid to the ministry, but she could not give an account of how the money was spent because according to her, the First Lady, Remi Tinubu, had told her to mind her business.
The former Women’s Affairs minister slammed a lawsuit against the speaker of the Niger State House of Assembly, Abdulmalik Sarkindaji, following his announcement to marry off 100 orphaned girls in his state. She petitioned the Inspector-General of Police, IGP, on the issue.
After criticisms from stakeholders, the minister withdrew the charge against the speaker.
Threats to sue the United Nation
On October 16, Uju Kennedy vowed to sue the Anthonio Guterres-led United Nations for allegedly not releasing funds meant for Nigeria. She added that the UN had failed to provide her ministry with the necessary records, which would in turn attract legal action on or before November 15, if the situation remained the same.
Her allegations generated disbelief and criticism from various quarters, including the UN, which denied any wrongdoing and challenged her to provide evidence.
Some civil society groups questioned her motive and accused her of being ignorant of the UN’s operations and protocols.
She was in the eye of the storm following the University of Calabar sexual harassment allegations, that indicted the Dean of the Faculty of Law, Professor Cyril Ndifon and led to his suspension on August 17 2023. The former minister had in a leaked video/audio threatened to jail the female law students of the university. A host of groups accused her of taking sides with Professor Ndifon, despite her mandate to protect the rights of women in the country.
Former militant leader, Asari Dokubo, has voiced his anger and frustration at how he has been treated by the president Bola Tinubu administration despite supporting him to become Nigeria’s leader.
Dokubo said he will now stretch a hand of friendship to the North and form alliance with them ahead of the 2027 presidential election.
In a viral video, the former militant leader recounted how he spent his money campaigning for for Tinubu during the 2023 presidential election, only for the president to cast him adrift after he won.
Addressing his followers in a viral video, he recalled how he implored Nigerians to hold him accountable if Tinubu failed as president.
He also stated he now understood the reasoning of their fathers who chose to cast their lots and pitch their tents with the north instead of the Yorubas as they are treacherous.
He said: “I apologise to our fathers because they were not wrong in forming an alliance with the North, and as young men, we will now start that same alliance.
“From today, I will work and form an alliance with the North. President Tinubu betrayed me after I spent all my money and emptied my bank account campaigning for him. The Tinubu I know now isn’t the Tinubu I used to know. We will take this message across that only the Northerners can work with the Ijaw people.
“We can’t work with Yoruba people; they are a betrayal to us. We risked our lives by voting and doing everything, and this is what we get?”
This is coming amid reports of talks of alliance among the opposition political parties in the country.
In January, political scientist Pat Utomi announced that he consulted with PDP’s presidential candidate, Atiku Abubakar, Labour Party (LP) candidate Peter Obi, and NNPP’s Rabiu Kwankwaso on the possibility of forming a new political party.
Recently, Utomi affirmed that Atiku, Kwankwaso, and Obi have agreed to form a political party that would oust President Bola Tinubu from power in 2027
Governor Bala Mohammed of Bauchi State has said that President Bola Ahmed Tinubu has failed to bring the development he achieved when he was governor of Lagos State from 1999 to 2007.
Speaking in an interview with Daily Trust published on Saturday, the Chairman of the Peoples Democratic Party (PDP) Governors Forum said he has tried to advise the present administration on its policies but it seems Tinubu is resistant to advise.
While expressing respect for Tinubu, the Bauchi Governor admitted he had mistaken with expectations that Tinubu will bring the same magic he brought to Lagos.
According to him, Tinubu performed well in Lagos when he had a team comprising of former Vice President Yemi Osinbajo and former Minister Kayode Fayemi.
Bala Mohammed wondered why the duo are not involved in the Tinubu administration, stressing that the President should bring back knowledgeable people and not just those who are ready to give blind praises.
He said: “The NEC is an advisory body headed by the Vice President. As governors, we can express our views, but often we feel frustrated. What I said wasn’t meant to insult President Tinubu. I respect him greatly—he has mentored many people across Nigeria, regardless of state or religion. I had high hopes that when he becomes president he will bring the same magic he brought to Lagos. But I was mistaken. Perhaps he’s overwhelmed or resistant to advice.
“When I said his policies aren’t working, I was speaking as an opposition member. We can’t be expected to support him blindly as his party members do. In fact, I’ve shown considerable restraint, as a statesman, by not saying things that could ignite a national crisis. But there are serious issues in his administration-within the oil and gas sector, the lack of real action on insecurity, the surface-level economic policies, the handling of labour issues, and their overall approach to governance.
“The government’s economic policies, particularly around fuel and the welfare of the people, are not working. I’m saying this modestly-our monetary policies are failing. President Tinubu needs to bring in capable people to work with him, not me specifically, but experts from across the country. Nigerians are suffering from hunger and anger, and good governance means managing people’s aspirations and minimising discomfort.
“If the removal of fuel subsidy was supposed to help, we’re not seeing that. What we need are policies that actually put food on the table. Even if we pay the minimum wage, it’s not enough to bring relief. That’s why I called for a review. And maybe he’s trying to review things, but the continued rise in fuel prices suggests otherwise. How can workers afford to commute? How can people buy basic goods like a bag of maize?
“President Tinubu needs to show empathy and apply the same skills he used in Lagos on a national level. He had a strong team before-like former Vice President (Yemi) Osinbajo and former Minister (Kayode) Fayemi-where are they now? He should bring back knowledgeable people, not just those who say “ranka dede” (blind praise). That’s what I’m advocating.”
More...
President Bola Ahmed Tinubu, President of the Senate, Godswill Akpabio, and the Speaker of the House of Representatives, Rt Hon Tajuddeen Abbas, were among the dignitaries who attended the wedding Fatiha of the daughter of Senator Mohammed Danjuma Goje yesterday in Abuja.
The wedding fatiha between Fauziyya Danjuma Goje and Aliyu Ahmed Abubakar was held at the National Mosque, Abuja, after the two raka’at Juma’at prayers.
Other personalities who witnessed the wedding included the Deputy President of the Senate, Senator Barau Jibrin, a former Vice President, Atiku Abubakar; and the National Chairman of the All Progressives Congress (APC), Dr Abdullahi Umar Ganduje, among others.
Top politicians from across the country graced the occasion, cutting across major political parties, including governors, senators, ministers, business tycoons, and traditional and religious leaders.
Also in attendance were; Gombe State Governor , Inuwa Yahaya, Yobe state governor, Mai Mala Buni, Katsina State Governor, Dikko Radda, Governor Uba Sani of Kaduna State, former Jigawa State Governor, Sule Lamido, former Kaduna State Governor, Mallam Nasiru El-Rufai, former Borno State Governor, Ali Modu Sheriff and former national chairman of the APC , Senator Abdullahi Adamu.
Presidential aides, including the Chief of Staff, a former Speaker of the House of Representatives, Rt Hon Femi Gbajabiamila and National Security Adviser, Malam Nuhu Ribadu, were in attendance.
Senator Goje, a former governor of Gombe State, minister and ranking senator who has been in the upper chamber of the National Assembly since 2011, was seen with President Tinubu during the ceremony. He is a founding member of the All Progressives Congress.
According to a statement by the Special Adviser Media and Publicity to the Deputy Senate President, Ismael Mudashir, “It was excitement galore as President Tinubu and Atiku met at the occasion.
“Ganduje and Governor Bala Mohammed of Bauchi State were among the personalities excited by the meeting of Tinubu and Atiku at the occasion.”
Governor Bala Mohammed of Bauchi State has said that President Bola Ahmed Tinubu has failed to bring the development he achieved when he was governor of Lagos State from 1999 to 2007.
Speaking in an interview with Daily Trust published on Saturday, the Chairman of the Peoples Democratic Party (PDP) Governors Forum said he has tried to advise the present administration on its policies but it seems Tinubu is resistant to advise.
While expressing respect for Tinubu, the Bauchi Governor admitted he had mistaken with expectations that Tinubu will bring the same magic he brought to Lagos.
According to him, Tinubu performed well in Lagos when he had a team comprising of former Vice President Yemi Osinbajo and former Minister Kayode Fayemi.
Bala Mohammed wondered why the duo are not involved in the Tinubu administration, stressing that the President should bring back knowledgeable people and not just those who are ready to give blind praises.
He said: “The NEC is an advisory body headed by the Vice President. As governors, we can express our views, but often we feel frustrated. What I said wasn’t meant to insult President Tinubu. I respect him greatly—he has mentored many people across Nigeria, regardless of state or religion. I had high hopes that when he becomes president he will bring the same magic he brought to Lagos. But I was mistaken. Perhaps he’s overwhelmed or resistant to advice.
“When I said his policies aren’t working, I was speaking as an opposition member. We can’t be expected to support him blindly as his party members do. In fact, I’ve shown considerable restraint, as a statesman, by not saying things that could ignite a national crisis. But there are serious issues in his administration-within the oil and gas sector, the lack of real action on insecurity, the surface-level economic policies, the handling of labour issues, and their overall approach to governance.
“The government’s economic policies, particularly around fuel and the welfare of the people, are not working. I’m saying this modestly-our monetary policies are failing. President Tinubu needs to bring in capable people to work with him, not me specifically, but experts from across the country. Nigerians are suffering from hunger and anger, and good governance means managing people’s aspirations and minimising discomfort.
“If the removal of fuel subsidy was supposed to help, we’re not seeing that. What we need are policies that actually put food on the table. Even if we pay the minimum wage, it’s not enough to bring relief. That’s why I called for a review. And maybe he’s trying to review things, but the continued rise in fuel prices suggests otherwise. How can workers afford to commute? How can people buy basic goods like a bag of maize?
“President Tinubu needs to show empathy and apply the same skills he used in Lagos on a national level. He had a strong team before-like former Vice President (Yemi) Osinbajo and former Minister (Kayode) Fayemi-where are they now? He should bring back knowledgeable people, not just those who say “ranka dede” (blind praise). That’s what I’m advocating.”
[NaijaNews]
A student of the Obada Idi-Emi High School in the Imeko Afon Local Government Area of Ogun State, identified simply as Ariyo, has died after a teacher allegedly beat him with 162 strokes of the cane for breaking a dustbin.
An activist identified as Adetoun shared the incident on Instagram on Friday.
According to Adetoun, the teacher had reportedly brought a dustbin to Ariyo’s class with instructions that the students should not break the dustbin.
She narrated that Ariyo had jokingly replied to the teacher that the dustbin was bought with the students’ money, a response which was said to have infuriated the teacher.
The teacher was said to have reported to the principal who instructed that the student be punished.
Acting on the principal’s instruction, the teacher allegedly flogged Ariyo with 162 strokes of the cane and in the process, the student fell and collapsed.
Adetoun said further that the teacher and some staffers of the school who were at the scene delayed in taking Ariyo to the hospital for medical attention and when they did, he was dead.
A senior police officer confirmed privy to the incident but was not authorised to speak with the media confirmed the incident to our correspondent.
He said that the incident created tension in the area but the intervention of the police brought it under control.
“We are on the matter, the incident wanted to create tension but we were able to douse the tension,” the police source said.
The spokesperson for the Ogun State Police Command was yet to respond to enquiries on the incident sent to her line as of the time of filing this report.
Bitter kola, also known as Garcinia kola, is gradually becoming one of the highly sought products in Nigeria and other countries across the world. The nut is occasionally eaten by a few people, especially in the northern part of Nigeria as the region doesn’t grow it much, and it was initially sold cheaply as against what is now being experienced. Weekend Trust gathered that the price of the nut is now out of reach of the common man.
Alhaji Usman Dauda is a bitter kola merchant at the famous Mariri Kolanut Market in Kano and according to him, the nut has gradually become one of the nuts in high demand, not only in the local business space, but also in the international market. He explained that though the nut is currently in high demand in the North, it is known to be grown in the South-west, South-south and North-central regions of Nigeria.
He revealed that though the nut is currently highly consumed within the nation, findings have shown that countries like China, Indonesia, Thailand, Japan and several Asian countries are taking the nut from Nigeria, hence the hike in the price.
He added that many people have ventured into exportation of bitter kola as the demand by foreign countries heightens.
“Perhaps, the rise in demand of the nut by other countries is responsible for the increase in price. However, the consumption of the nut has also increased due to some other issues. It will interest you to note that the nut is being exported in different forms; it could be taken out dried or in powdered form, depending on the specification of the buyer and the country it is being taken to,” he said.
Another merchant, Malam Ubale Umar, said the transformation in the bitter kola business happened within the last five years, adding that initially, bitter kola business wasn’t lucrative and one needed just a small capital to start it.
According to him, the business became what it is today due to the exportation potentials of the nut, explaining that small scale exporters can start the business using simple devices such as phones. He further stated that another advantage of the nut is that it is neither a perishable item nor does it require special storage facility.
He revealed that many people in the business are rich.
Findings have also revealed that bitter kola gained serious recognition during the Covid-19 pandemic when it was believed that the nut could cure any form of flu and also provided the body with the needed immunity against the virus. Although, there was no medical confirmation that bitter kola could cure Covid.
Hajiya Hafsat Idi claimed that she started using bitter kola after the Covid-19 pandemic. According to her, she became ill during the pandemic and bitter kola was introduced to her as a remedy to her illness. She said she was healed after three days of using bitter kola and ever since, she’s made it a habit to take one piece of bitter kola every day.
“Though bitter kola has become very expensive these days, I have made it a habit to take a nut every day. Initially, a piece was sold for between N20 and N50, but now, that same size costs between N100 and N200. Some are even smaller. Many people take the nut for medicinal purposes and I was told that bitter kola is used in the formulation of various medicines,” she said.
A visit to the famous Kano Mariri Kolanut Market revealed that, presently, the nut is scarce compared to months ago. Weekend Trust gathered that demand for the nut has made the product scarce, just as the price has gone up. Our correspondent reports that the quantity sold for N25, 000 months ago is now N80, 000.
Murtala Karmo Mai Namijin Goro, who has been in the business for decades, is one of the biggest bitter kola dealers in the market. He said he had never witnessed this sort of boom in the business. He attributed the rise in demand and price to the belief that the nut has high medicinal value, coupled with its new exportation status. He said many people ventured into the business for exportation purpose.
“Those involved in the exportation business said the nut has huge potentials, and it is clear that the exporters are now smiling to the bank as the business opportunity is said to be expanding. I found out that despite the fact that the volume being exported is low now, there is the tendency that with expansion in nut cultivation, the export will soon be huge,” he said.
Considerable experimental evidence has been adduced to support its chemical constituents against several ailments in the community, including malaria.
According to a Kano-based nutritionist, Malam Ali Aminu, bitter kola has some nutrients that are good for the body. He said the nut has various health benefits that include: alkaloids, flavonoids, tannins and amino acids. According to him, these compounds give the nut antioxidant and anti-inflammatory properties that help in boosting the body’s immune system and protect the body cells from damage.
“The nut contains caffeine and theobromine, which serves as tonic for speeding up heart beat among other benefits. However, there is the propensity for addiction due to its caffeine content,” he said.
Another nutritionist, Sani Bello, said people have to be careful in the consumption of the nut, as too much of it could cause insomnia, nervousness and heart palpitations due to its caffeine content. He also said the nut is not good for people with gastric ulcers, heart disease, anxiety disorders or high blood pressure.
A herbal medicine dealer, Malam Isah Baffa, said bitter kola features in virtually every medicine they produce. He said it is one of the main ingredients they use in the preparation of malaria medicine and others.
“No doubt, bitter kola is scarce these days because almost every herbal medicine you know has a portion of bitter kola in it and we were told that even the white people use it in their medicines as well,” he said.
[DailyTrust]