The Federal Government has highlighted President Bola Tinubu’s administration’s plan to mitigate the cost of living and enhance Nigerians’ financial well-being.

Alhaji Mohammed Idris, the Minister of Information and National Orientation, made this declaration on Thursday in Abuja during a Ministerial briefing marking the first anniversary of Tinubu’s administration.

Idris emphasized that Tinubu’s administration operates under the Renewed Hope Agenda and has initiated measures to establish a robust foundation for improved livelihoods.

Key initiatives such as the Consumer Credit Corporation, the Nigeria Education Loan Fund, the Presidential Initiative on Compressed Natural Gas, the N200 billion Presidential Grant, and the Students Loan Scheme highlight the government’s commitment to this cause.

Furthermore, efforts in agriculture, food security, infrastructure development, electricity sector reforms, fiscal policy adjustments, and negotiations for a new national minimum wage are all aimed at positively impacting the lives of millions of Nigerians.

Idris reiterated Tinubu’s dedication to reducing the cost of living and enhancing business operations by bolstering citizens’ purchasing power. He underscored Tinubu’s success in attracting local and foreign investments and improving national infrastructure.

“We remain resolute in our commitment to delivering genuine Renewed Hope to all Nigerians,” Idris affirmed.

He noted that the first-year anniversary commemoration provided an opportunity to present the government’s achievements to Nigerians and demonstrate the progress made thus far.

Emir Sanusi Lamido Sanusi of Kano has expressed his revulsion at the abject lack of developmental goals, foresight and nationalistic consciousness among Nigerian politicians.

He noted that the leaders have become a thing of a curse to Nigerians seeing how they can’t harness the rich extractable minerals Nigeria is endowed with by nature for the betterment of the people.

Sanusi expressed his dissatisfaction with the troubling and parlous State of the nation and the uninspiring mentality of Nigerian politicians when he spoke at the 2024 Rivers State Economic Summit.

He explained that human capacity development is key to Nigeria’s economic development, noting that the country’s crude oil is not a curse but the leaders are.

Anti-Graft Group Criticizes EFCC, ICPC for Ignoring South South Ex-Governors’ Petitions
According to him, to achieve development, it is necessary to recognise the need to take some specific steps that transcends natural resources to diversify and institutionalise the foundation of the economic framework.

Sanusi said Nigeria could not depend solely on oil to grow its economy and ensure its prosperity.

“I have said it over again: if we are to take all the oil in Nigeria, sell it and share the money among all Nigerians, we will be a lower-income country. So, oil is a resource but not enough to make us a wealthy country,” he said. “Japan and Singapore do not have any minerals, neither do Germany, Australia, or Rwanda, just to mention a few examples. By no means can anybody compare the standard of living and life expectancy of any other developed benchmark in these countries to that of Nigeria.”

Sanusi added, “In spite of having an abundance of mineral resources, countries like Russia, the UAE, and Norway, among others, have developed not only by those resources given to them by nature or providence but successful and deliberate vision to diversify through the quality of their governance institutions and people.

“Resources can be a blessing, and resources can be a curse. The choice is left to the leaders. Oil is not a curse. The curse is the leader. We have the choice to make it a curse or a blessing. The choice that you made is yours.”

According to Sanusi, human capital and good governance are why countries with complex characteristics, such as India, Brazil, China and the U.S. have developed through innovation, intellectual property, education and strong public institutions.

Sanusi said Nigeria must invest in renewable energy.

“This is to ensure sustainable and reliable energy sources driving industrial growth, especially with the current electricity act that empowers states to generate and distribute electricity,” Mr Sanusi said

Chief Olabode George, the former Deputy National Chairman of the Peoples Democratic Party (PDP), has expressed deep concerns about the state of Nigeria, stating that the country’s fortunes plummeted under former President Muhammadu Buhari’s administration.

George, noting that one year is too short to evaluate President Bola Tinubu’s administration, urged the President to communicate the nation’s true status transparently. Reflecting on Nigeria’s democratic journey since 1999, George criticized successive governments for failing to address the country’s issues.

“This crisis became complicated between 2015 and 2023 during the administration of my oga President Muhammadu Buhari. The Nigerian state almost collapsed because many Nigerians will agree that that eight-year era was probably the worst in Nigerian history since 1960 when we got our independence,” he emphasized.

George expressed dissatisfaction with those blaming the current administration for the nation’s woes, arguing that one year is insufficient to judge Tinubu’s performance.

“Pitiably, some Nigerians have resorted to a blame game. We must be careful in this country because Nigeria is not for any individual, group, or region. Nigeria belongs to everybody. It is through cooperation and unanimity of purpose that we can lift the country up. They are now blaming the Bola Tinubu administration, which has spent about one year in office,” he said.

However, he called on Tinubu to revamp his economic team, citing the deteriorating standard of living due to high living costs.

“Tinubu should also come out and tell Nigerians the true position of things in the country. This is not the time to play party or regional politics. Nigerians have suffered enough, and they want fast results. Nigerians are also saying loud and clear that the skewed political power structure constitutes a huge hindrance to national development,” he added.

George stressed the need for true federalism, arguing that the concentration of political power hinders national progress and stifles individual state growth and development.

“This is the time to listen to the voice of reason because real progress lies in true federalism and good governance. We have been operating this constitution since 1999, which has taken us nowhere. It is only a fool who will be doing the same thing repeatedly and expect a different result,” he concluded.

The federal government is set to launch the “NextGen” bank in partnership with the Bank of Industry. The bank will provide loans and business support to young entrepreneurs.

Dr. Jamila Bio Ibrahim, Minister of Youth Development, announced this during the Ministerial Sectoral Update, which marked the first year of President Bola Tinubu’s administration. The event was held at the Radio House in Abuja yesterday.

Dr Ibrahim stated that the creation of this bank aligns with the ministry’s mandate to promote youth development, wealth creation, empowerment, well-being, excellence, national unity, and sustainable development. The ultimate goal is to empower young Nigerians to reach their full potential and contribute positively to the nation’s growth.

The minister also highlighted the ministry’s 11 key deliverables, which include establishing a framework to create and expand Micro, Small, and Medium Enterprises (MSMEs) incubators, accelerators, and innovation centers in all six geopolitical zones.

Furthermore, Dr. Ibrahim revealed that 146,998 Nigerians are targeted for vocational skills, social inclusion, technology, agriculture, and entrepreneurship training. The Federal Executive Council has also approved N110 billion in capital for startups and early-stage businesses through the restructured Nigerian Youth Investment Fund (NYIF). Additionally, the government is working on institutionalizing a 30 percent youth quota, with equitable inclusion of young women in all government appointments.

In an assessment of President Bola Tinubu’s first year in office, a one-time member of the House of Representatives and elder statesman, Dr Usman Bugaje, accused the administration of lack of progress in addressing the nation’s pressing issues.

During an interview on Channels TV’s Politics Today on Wednesday, Bugaje was asked about the government’s decision to mark Tinubu’s first year in office with a low-key approach, without any fanfare.

In his response, Bugaje said, “Well, as Citizens and as people who have been in government, clearly the last one year has been a tragedy, simple. There is not one problem they have been able to solve, so I cannot see any other than low-key.”

Bugaje attributed the low-key approach to the administration’s recognition of the public’s frustration and anger.

“I mean, I give them the sense that they are feeling the pressure, they can see the faces of Nigerians and so perhaps they trying to see how can they assuage this anger because the people are angry,” he said.

Expressing concern over the government’s inability to address the country’s challenges, Bugaje stated, “Since this Administration came one year ago, I’ve not seen one problem that they have solved. If anything, the policies they started with have created far more problems than they found, and in this one year, they are clearly groping in the dark without very clear [direction].”

Bugaje emphasised the need for the administration to seek help from experienced individuals, regardless of their political affiliations.

“This is the time really to admit and to then seek help from those who know, and Nigeria is full of people with the experience with the expertise, they may not be in your party, they may not even be in politics, but this is the way many countries have been able to get out of the problem they have found themselves,” he said.

Highlighting the importance of measurable metrics in evaluating governance, Bugaje expressed disappointment and accused the government of a lack of a baseline established.

“We as a nation should have by now developed metrics for evaluating governance. In the academic cycle, there are, and there are statistics. Every government should have come up with a baseline. After one year, they will be able to say scientifically this is the production in terms of Agriculture, what we found in 2023, and this last season we have improved by a number of metric tons. In the field of security, these are the figures we would have improved.”

Bugaje cited the recent kidnapping of 20 people in Dawaki, an estate in Abuja, as a reminder of the deteriorating security situation in the country’s capital, questioning the government’s ability to ensure the safety of its citizens.

“So my point is really what I’ve had so far are empty rhetorics that have not spoken to the problems on the ground,” Bugaje noted.

He further called for tangible solutions and a willingness from the government to seek assistance from experienced individuals outside the government’s circles.

On Tuesday, about 20 residents of Dawaki, a community near Kubwa in the Federal Capital Territory, were kidnapped.

The attackers were said to have raided houses on Frank Opara Street before security operatives responded to distress calls.

The Federal Government said on Thursday that the country was poised to begin local production of military equipment with the recent signing of the Defence Industries Corporation of Nigeria Bill by President Bola Tinubu.

The Minister of Defence, Muhammad Badaru, said following the signing of the bill, the Federal Government had been in talks with about 50 local and internal firms for local production of firearms in the country.

According to him, already 13 of the firms have begun production of firearms in Nigeria.

Badaru, who spoke on Thursday at the Ministerial Sectorial Update in Abuja, added that Nigeria had made significant progress in the fight against terrorism in the last one year under the Tinubu administration.

He said,“With the help of the bill, Nigeria has been discussing with over 50 private companies, both within and abroad, in the area of production of weapons and other military equipment.

“In fact, 13 of them have already started production or are about to start production.”

According to the minister, the military in the last one year killed 9,300 insurgents and arrested 7,000 others.

This feat, he said, was made possible by the close synergy among the Service Chiefs under President Tinubu.

According to him, the synergy, which increased military productivity and translated into laudable achievements in the last one year.

Badaru, who spoke at the Ministerial Sectorial Update in Abuja on Thursday, said the synergy among the Service Chiefs was different from what obtained in the past.

He said, “The Chief of Defence Staff, the Chief of Army Staff, the Chief of Naval Staff and the Chief of Air Staff are working together as against what it used to be. That has led to productivity and efficiency in their operations. In addition to this, we have close collaboration with the office of the National Security Adviser, the police, the NSCDC and all other security agencies.

“This has translated to tremendous progress in the last one year. Because of the synergy, we were able to neutralise more than 9,300 bandits and insurgents; about 7,000 were arrested while we rescued 4,641 kidnapped victims in just one year.

“We have also recovered 4,882 assorted weapons and 83,900 assorted ammunition in just one year. Among those that we naturalised were bandits that you hear. We have neutralised not less than 20 bandit leaders the commanders of insurgents and terrorists in just one year. “

The minister said in an effort by the military to boost oil production in the country, no fewer than 1,437 suspects had been arrested and 363 killed in the last one year.

He noted that as a result of the ongoing operations against oil theft, “most of the illegal refineries are down”.

Badaru said, “In our efforts to improve the production of crude oil in the country, We have been able to arrest 1,437 suspects, 363 neutralised and we have freed 245 held captive in the Niger Delta region. We have destroyed 3,051 dug pits, 1,276 boats and 3,924 storage tanks, among others. So most of the illegal refineries are down. Many vessels have also been arrested.”

Badaru said the President has been eager to see an end to insecurity in the country.

“The question from Mr president has always been ‘when are you going to end this thing?’. I keep telling him in no distant future we would end it. We have the personnel and the communities are supporting us. We have seen over 100,000 terrorists surrendering to troops, we are still expecting to see more. Those who refuse to surrender, we will fight them hard,” he said.

Answering questions on why the attacks are still on, the minister said, “The attacks happen around local governments that have forests. These people come out from the forest with motorcycles, attack the people and run back. But we have deployed technology today so that we can see them coming and take care of them before that time. We continue to fight, we will continue to deliver and I can assure you that the successes we have enjoyed in the last one year will be replicated and we will even do more next year.”

Badaru also said the President had approved the recruitment of more personnel into the military to increase its manpower.

He added that the President has directed the full deployment of technology to end insurgency in the country.

He said, “The President has approved that we should recruit more so that we can have boots on the ground and also deploy technology heavily so that we can end the insurgency.”

The Federal Competition and Consumer Protection Commission, FCCPC, has declared that ‘exploitative’ hikes in the prices of commodities are illegal in Nigeria, reiterating its commitment to protecting consumer rights and maintaining fair market practices.

This is as the Commission also launched an investigation into the recent hikes in the prices of commodities in Bauch State with a view to identify and address unfair practices affecting consumers.

Speaking at a market survey at the Muda Lawal Market, the Vice Chairman of the Commission, Dr Adamu Abdullahi, said a survey carried out in market places showed that the food chain and distribution sector, including wholesalers and retailers, are allegedly engaged in conspiracy, price gouging, hoarding and other unfair tactics.

He condemned the acts, adding that the development has contributed to a rise in the cost of living.

“We are engaging market associations, traders and customers so we can know the factors affecting the prices of goods. At the end, we will address uncompetitive and make recommendations to the Federal Government,” he said.

Abdullahi, who was represented by the FCCPC coordinator for North East Zone, Dauda Waja Ahmadu, added that “FCCPC’s surveillance efforts suggest participants in the food chain and distribution sector including wholesalers and retailers are allegedly engaged in conspiracy, price gouging, hoarding and other unfair tactics to restrict or distort competition in the market, restrict the supply of food, manipulate and inflate the price of food in an indiscriminate manner. These obnoxious, unscrupulous, exploitative practices are illegal under the FCCPA.”

According to him, FCCPC has been engaging in fact-finding interactions with traders’ associations and marketers to ascertain factors responsible for the continuous hike in food prices.

He stated further that the fact-finding inquiry is an investigative mission to gather information directly from the sources and stakeholders in major markets, particularly executives, market unions, sellers and consumers.

“The Commission’s priority remains to unlock the markets and address key consumer protection and competition issues affecting the prices of commodities in the food sector,” he said.

He said after the market survey, the Commission would develop “a concise report of its inquiry and make recommendations to the government in accordance with Section 17(b) of the FCCPA and initiate broad based policies and review economic activities in Nigeria to identify and address anti-competitive, anti-consumer protection and restrictive practices to make markets more competitive while also ensuring fair pricing for consumers.”

Meanwhile, traders at the Muda Lawal Market have attributed the recent hike in commodity prices to their suppliers, pointing to increased wholesale costs as the primary cause.

A former Peoples Democratic Party, PDP, National Deputy Chairman, Bode George, says the party must stick to its power rotation grundnorm between the North and South to win in 2027.

George said this while fielding questions from newsmen during his address to the nation, titled “My Thoughts on The State of Our Country in the Last 25 Years: A Time to Chart A New Direction”.

He was reacting to a recent statement made by former Vice President Atiku Abubakar and PDP 2023 Presidential candidate that he would drop his ambition in 2027 if the party picks the Labour Party Presidential candidate in 2023, Mr Peter Obi.

George said power rotation must be sacrosanct, adding that the PDP should have learnt its lessons from the defeat of 2023.

He said: “Our party has a grundnorm. The constitution of our party as compiled by the founding father, Baba Ekwueme (former Vice President Alex Ekwueme) and his team will remain a guiding light.

“We have paid a big price for not following the rule. We have made mistakes, let us learn. It has cost us too much.

“Section 7 sub section 3C states very clearly that the party must adhere to the zoning and rotation procedures for party positions and elective positions simultaneously for things to work well.”

According to him, power rotation, as embedded in the party’s constitution, was to guard against any situation that might bring back the military to power.

He said that the party’s founding fathers divided the country into six geo-political zones to capture the majority and minority tribes and give all a sense of belonging.

“This is because the problem since 1960 is between majority tribes and minority tribes.

“The majority tribe will have their way, but the minority will just be mere onlookers. That was the major cause of coups and counter coups,” he said.

George added that the party’s founding fathers came up with the idea that the top six positions in the land be shared by the six geo-political zones for equity and justice.

He listed the positions as offices of the President, Vice President, Senate President, Speaker of the House of Representatives, Secretary to the Government of the Federation and Chairman of the party.

He added: “They (founding fathers) agreed that every eight years, all the positions held by northern zones should come to the south zones, vice versa, for rotation.

“The moment we (the PDP) started tinkering with that idea officially against our grundnorm, that was what created division in PDP.”

The 14th Emir of Kano, Muhammadu Sanusi II, on Thursday, said a lot of first class graduates can’t get a job because they lack the right skills.

Sanusi recalled telling Governor Siminalayi Fubara of Rivers State that he has hundreds of Curriculum Vitae, CVs, of first class students who lack requisite skills.

He spoke at the ongoing Rivers Economic and Investment Summit in Port Harcourt, on Thursday.

According to Sanusi: “The key to economic development is human capital. Investing in people is paramount. Rivers State needs robust education and skills training programmes that essentially aim to prepare youths to be the future for us.

“I was speaking to the governor today, telling him that I’m sure he, as I do, and all of us, have hundreds of CVs of young people who have first class degrees.

“Unfortunately, they cannot do anything to get a formal job because they have not been equipped with the right skills for this economy.”

The just reinstated Emir of Kano applauded the governor for seeking to chart a new path for growth and prosperity in the state.

Sanusi said as an oil-rich state, the natural resource was not enough to turn the fortunes of Rivers around but such a feat could be achieved through purposeful leadership.

Tinubu to flag off project Sunday, ministry to demolish buildings based on gazette

The Minister of Works, David Umahi, has disclosed that 750 houses that are on the path of the Lagos-Calabal Coast Highway have been marked for demolition.

He revealed this during a meeting with stakeholders in Lagos on Thursday.

He said, “If we go by the new alignment, 490 houses would be demolished, also following the gazette alignment, 750 houses would be demolished.

“There is no change of alignment; we are following the gazetted alignment. There would, however, be realignment at Okun Ajah area of the state by 25 kilometres to avoid damaging submarine cables.”

However, landlords of affected property were displeased with the government compensation, claiming it did not match their investment.

Umahi further disclosed that President Bola Tinubu had been invited to flag off the Lagos-Calabar Coastal Highway.

He said, “The President of the Federal Republic of Nigeria has been invited to flag off the coastal highway on Sunday, May 26, 2024.”

According to the minister, the coastal highway would boost tourism.

“The new corridor is going to have befitting tourism centres and the land is going to be made available by the relevant department of government, and Nigerians would be opportune to leverage that.

“When external funding from outside comes, it is going to reduce our inflation and strengthen the naira. So, the partnership of Federal Government is 30 per cent commitment, and we have not exceeded that in terms of the local funding commitment of the Federal Government,” he explained.

The minister noted that the new coastal corridor was not going to be for the benefit of Lagos alone.

He added, “This is not just going to be in Lagos alone, but all through the 700 kilometres of the coastal highway. We tend to link this road from Sokoto to Badagry, and another spur that is going to link a road that runs from Enugu, Abakaliki, and Ogoja, down to Cameroon, and that is called the trans-Africa trade route. The Badagry route is also an African trade route linking us to other West African Countries.”

10 property owners were compensated during a question and answer session with the minister.

Meanwhile, some property owners and residents have expressed anger over the compensation paid to them by the government, describing it as small compared to their investment in the marked properties.

According to them, the compensation is grossly inadequate and there is a need for the government to review the payment.

The President of Total Energies Staff Cooperative Society and Total Energies Staff Club, Cajetan Onu, said the compensation paid by the government was insufficient compared to the investment made on the developed property.

He appealed, “As I speak now, we have a bulldozer on our fence and we started developing our clubhouse four years ago, and we just commissioned it this year. We are not against the project; what we are requesting is more time to recover the equipment we can recover.

“Our second request is on the evaluation that was done to be on the cost for the compensation. We feel it is grossly inadequate compared to how much investment we put into this property. We beg you to assist us to ensure that we get the right compensation for this property.”

The founder of Leisure Games, Olanrewaju Ojo, who got N1.3m compensation, told The PUNCH that the amount was what he could generate in a week.

He said, “This is ridiculous! What am I supposed to do with this? I will make this in a week.”

Another compensated property owner of businesses on the Good Beach, who pleaded anonymity, said the amount was 1/6 of what he submitted.

He said, “For me, the compensation I was given is about 1/6 of what we submitted. Obviously, it is not up to what we invested in this business.

“I am having mixed feelings now and I do not know what to do. I do not know if I should accept or reject this.”

Another property owner, Paul Osemele, claimed that the compensation was not at a market rate.

He lamented, “Nobody is okay with the compensation; the government is given pantries, with the increase in cement.

“The government is not paying according to market value. In my house, I had about 20 tenants, and I have lost revenue since the whole thing started, as they have all moved out.”

Umahi responded that the government was fair on the issue of compensation.

He asserted, “On the issue of compensation, the government is impartial. What we have done for others is what we have done for this place as well.”

Umahi had earlier announced N2.75bn in compensation to property owners affected by the demolition necessary for the construction of the Lagos-Calabar Coastal Highway spanning from channel 0 to channel 3.

He revealed this information during a stakeholders meeting held in Lagos State on Wednesday.

He said, “To show sympathy for people who voted for Mr President, we would do everything possible to pay the human face compensation.

“Today, we are paying over N2bn in compensation just from channel 0 to channel 3.”

Umahi noted that the compensation being done was a flag-off for 10 people, directing that the rest of those to be compensated should go to the Secretariat of the Compensation Committee for payment.

He added, “All tenants within the Landmark premises, today, have all been shortlisted and they will get the alerts by 2:00 pm.

The first phase of the compensation flag-off included 10 property owners, which were: Olaotan Olamuyiwa of Checkmate; Kemi Osinibi of Landmark Kids Club by Maxtivity; Mide Adegbite, Peter Oladipupo of FX Lounge; Bukola Oloko, Abiodun Oguntunde of Xchange Lagos; Dapo Oniru of Moist Beach; Mustapha Olatunji of G12 Beach; Dr Bashir Oshodi, and Bestrock.

The Federal Controller of Works for Lagos State, Olukorede Kesha, noted that the aforementioned property owners were the first 10 to be compensated, adding that subsequently, other compensations would ensue.

In March, the Federal Government started constructing the 700-kilometer Lagos-Calabar Coastal Highway, designed to extend through 9 states with two spurs leading to the Northern States.

Umahi revealed that the road would be built using concrete pavement.

In the following month, the government established a committee tasked with the responsibilities of reviewing, assessing and compensating landowners affected by the construction of the Lagos-Calabar Coastal Expressway.

Umahi said that the committee, comprising members drawn from the ministry, Lagos State, affected communities, and other stakeholders, had primary responsibilities that included verifying the eligibility of claimants, assessing the dimensions of affected properties, and determining the appropriate compensation amounts.