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Breaking: Tinubu announced as Man Of The Year as he speaks on the economic programme of his administration, Says Onanuga
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The Nation: What do you say to millions of Nigerians battling a cost-of-living crisis caused by spiralling inflation, high petrol price, and currency devaluation, and desperately want some relief?
Tinubu: As your President, I am deeply aware of the economic crisis’s severe impact on Nigerians, and we are part of a global challenge with the rising costs of living. To help our people, my administra:on is taking proactive steps. We are focused on providing financial support to businesses and ensuring the availability and affordability of staple foods, which are essen:al for every Nigerian family. One of our key initiatives is the provision of N25,000 monthly to 15 million households, for a three-month period. To further support food security, we’re working with our partners, local and interna:onal, to improve agricultural prac:ces and provide essential resources to farmers.
In addition, the National Single Window Project is being implemented to enhance international trade efficiency. All these efforts are in line with our commitment to reducing the economic burden on our ci:zens, especially the working class and vulnerable groups. The realloca:on of funds from the removal of the petrol subsidy is also a strategic move to bolster our government’s finances, contribu:ng to a stable economic environment for all.
Furthermore, in our commitment to ease the economic strain on our citizens , particularly the working class and vulnerable groups, our administration is championing the shift to cleaner energy sources. We recognize the benefits of Compressed Natural Gas (CNG) in providing an affordable and cleaner mass transit system. To facilitate this, we have waived the Value Added Tax (VAT) on CNG purchases. Additionally, to reduce the costs in food transportation and manufacturing, we’ve also waived VAT on diesel for six months.
I fully appreciate that these massively important reforms have been hard, but the dividends are already manifesting, with even more in sight. We have already seen improvements in our economic outlook, as corroborated by the likes of Fitch and Moody’s. These may seem ‘academic’ to many but the impact on investor confidence is significant.
The Nation: Many have criticized the cash transfer initiatives of your government, saying they are superficial and cannot address the level of poverty in the land. Are you still convinced about the efficacy of these programs?
Tinubu: I am steadfast in my belief in the efficacy of our cash transfer initiatives. These initiatives are a crucial part of our strategy to target and provide relief to the most vulnerable segments of our popula:on, especially during the last three months of the year when the prices of basic items typically rise. This is not just about providing temporary support; it’s about strategically delivering assistance when it’s needed most. We continue to work closely with all key stakeholders – including state governments, civil society groups, international partners, and private sector entities like telcos and fintechs – to refine these programs. Moreover, we urge all Nigerians to be mindful of the current economic situation and avoid exploiting it for abnormal profits.
In addition to these cash transfers, our administration is deeply committed to empowering micro, small, and medium-sized enterprises, along with nano businesses. Significant financial support is being directed to these enterprises to foster human capital development, economic growth, and financial inclusion. For instance, through the Ministry of Communications, Innovation and Digital Economy, we launched the 3MTT programme, aiming to develop technical talent across Nigeria in fields such as software engineering and cloud computing. This program is designed not just to aid businesses but also to enable our youth to participate in the global gig economy, earning competitive wages while contributing to our nation’s growth.
Our interventions extend beyond what some may call ‘cash handouts’. They are about creating a sustainable environment where Nigerians can innovate and thrive. By focusing on sectors like digital and creative industries, we are fostering growth and job creation , harmonizing efforts between monetary and fiscal bodies to build a stronger, more resilient Nigeria.”
The Nation: You have been quoted in the past promising to pay Nigerians a minimum wage they can live on. What is delaying the unveiling of the new minimum wage? How do you manage a situation where many states without the Federal Government’s resources may not be able to meet whatever commitments the government at the centre makes [it] to workers?
Tinubu : I understand the concerns regarding the unveiling of the new minimum wage and how states will manage these changes, especially those with fewer resources. To address this, my administration has approved a provisional increase in the federal minimum wage to N35,000 per month for a six-month period, two months of which have already been paid. This decision follows extensive consultations with the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC).
In managing the situation with the states, we are working closely with them to ensure the new wage structure is practical and sustainable. It’s important that each state’s unique financial situation is considered. We are focused on strategies to help states strengthen their economies, considering factors like tax efficiency and economic diversificaon.
We are commided to ongoing dialogues with labour unions and state governments. This collaborative approach is crucial to ensure that the new minimum wage is fair, reasonable, and implementable across all states. Our goal is to balance the economic well-being of our workers with the overall financial health of the nation.
We ask Nigerians to be rest assured that our administration will not rest until we have delivered a sustainable solution in the best interest of Nigerians.
The Nation: One feature of the last few months has been your aggressive pursuit of foreign direct investment. What are the tangible results of these shuttles around the world?
Tinubu: It is essential to place our initiatives within the broader context of our economic recovery and growth strategy. This strategy encompasses several key reforms, including the removal of fuel subsidies, the unification of the naira’s exchange rates, the adoption of the customs single-window, the streamlining of our tax system and enhancement and diversification of our revenues. These strategic moves are designed to enhance liquidity and create a more attractive investment environment for both domestic and foreign investors, thereby stimulating sustainable growth.
FDI is not ‘chicken change’. FDI is substantial, long-term financial commitments made by serious enterprises and investors. What is happening right now is that Nigeria is re-engaging with the global market – both foreign and domestic investors. We are telling the story of our significant and far-reaching reforms and rebuilding confidence in Nigeria as an accessible and safe investment. We are clearly communicating that ‘Nigeria is open for business’ and that the direction of travel is clear and fully committed.
So far, our pursuit of foreign direct investment has been met with positive outcomes. We’ve secured a $500 million deal with Germany to fund renewable energy projects, particularly in rural Nigeria. Additionally, through local enterprises, Nigeria will supply LNG yearly to Germany, starting in 2026, solidifying our role as a key global energy partner. Our focused efforts to adract European FDI are yielding fruit, notably with the $116 million French investment in the I-DICE program, aimed at creating 65,000 start-ups and 150,000 jobs, particularly empowering women. As announced on the sidelines of COP28 in Dubai, we’re deploying 100 electric buses nationally, affirming our commitment to sustainable, eco- friendly initiatives and creating a platform for Public-Private-Partnerships in the mass transit category. Since this announcement we have received serious requests for co-investment opportunities from within Nigeria and across the world – Europe, India, China and the Middle East, key global markets which our administration has been energetically engaging with.
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Major Legal Blow as Court Orders Deregistration of ADC, Accord, Three Other Parties
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The Federal High Court in Abuja has ordered the Independent National Electoral Commission (INEC) to deregister the African Democratic Congress (ADC) and four other political parties.
The other political parties the court directed the electoral body to deregister are the Action Peoples Party (APP), Action Alliance (AA), Accord Party (AP), and Zenith Labour Party (ZLP).
The court order followed a judgment delivered by Justice Peter Lifu.
The National Forum of Former Legislators had, in the suit marked FHC/ABJ/CS/2637/2026, prayed the court to determine whether INEC has a constitutional obligation to remove political parties that fail to meet the electoral performance thresholds set out in Section 225A of the 1999 Constitution (as amended), as reinforced by the Electoral Act 2022 and INEC’s regulations.
It was the position of the plaintiff that the five political parties listed as defendants in the matter had persistently failed to meet the constitutional benchmarks required to retain their registration.
The former legislators stressed that the requirements include winning at least 25 per cent of votes in a state during a presidential election or securing at least one elective seat at the national, state, or local government level.
They told the court that the ADC and the four other parties performed poorly in both the 2023 general elections and by-elections conducted by INEC, thereby failing to win seats across key tiers of government.
The litigants insisted that the continued existence of the ADC and the other defendants as recognised political parties is unlawful and undermines the integrity of the country’s electoral system.
Among other reliefs, the plaintiff urged the court to declare that INEC is duty-bound to deregister such parties.
It further urged the court to compel the commission to deregister the five political parties before preparations for the 2027 elections advance further.
Beyond declaratory reliefs, the plaintiff prayed the court to restrain the five affected parties from participating in general elections or engaging in political activities such as campaigns, rallies, and primaries.
It also sought a court injunction restraining INEC from recognising or dealing with the parties in any official capacity unless and until they strictly comply with constitutional provisions.
The judgment may affect the chances of candidates of the affected political parties, including former Vice President Atiku Abubakar, to contest the 2027 presidential poll.
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Democracy Day: Tinubu Honours Heroes, Seeks Stronger Collective Action on Terrorism
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President honours Gens. Yar’Adua, Williams, Igbokwe, media moguls, activists, other heros
With a call on Nigerians to unite in the fight against terrorism, banditry and kidnapping, President Bola Ahmed Tinubu reflected on the nation’s 27 years of uninterrupted democracy.
He said such joint efforts had become imperative because the battle against insecurity cannot be left to the government alone.
The President listed some deserving individuals, including the late Gen. Shehu Musa Yar’Adua, Gen. Ishola Williams, media executives, rights crusaders and others for national honours.
In his Democracy Day broadcast this morning, the President urged citizens to avoid ethnic profiling and blame games in the face of security challenges.
He assured that the country would emerge stronger and more united after overcoming terrorism.
He said: “At a time like this, let us not assign blame or point fingers. Crime has no ethnicity.
“We must stand united and be assured that the enemies of our nation shall soon be history.
“We will triumph over terror and continue to build a more prosperous nation.”
The President spoke against the backdrop of recent abductions in Oyo and Borno states.
He described the incidents as a painful reminder that democracy cannot thrive without security.
Expressing optimism that the abducted children would regain their freedom, Tinubu stressed that his administration had responded decisively by declaring a security emergency and approving the recruitment of more than 50,000 police officers and thousands of military personnel.
Besides, he said the government allocated N5.41 trillion to defence and security in the 2026 Budget, describing it as the largest security vote ever.
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“Democracy without security is a mirage,” he said, noting that the allocation represents the biggest defence and security budget in Nigeria’s history.
Tinubu said the country had moved beyond conventional military training exercises with international partners to precision targeting of terrorist networks, citing the degradation of an ISWAP command centre in Arege, Borno State, as evidence of progress.
Reflecting on the democratic journey, Tinubu said the country had enjoyed its longest uninterrupted period of civilian rule, spanning 27 years since the return to democratic governance in 1999.
He noted that despite its imperfections, Nigeria’s democracy remained resilient because citizens had consistently chosen leaders through the ballot box, resolved disputes through legal institutions and ensured peaceful transitions of power.
Ahead of the forthcoming governorship elections in Ekiti and Osun states, the President urged stakeholders to safeguard the integrity of the electoral process.
He called on the Independent National Electoral Commission (INEC), security agencies and political parties to ensure peaceful and credible polls, warning that democracy suffers whenever citizens lose confidence in elections.
The Ekiti governorship election will be held on June 20, while the Osun poll is scheduled for August 15.
Tinubu challenged the National Assembly, the Judiciary, the media and civil society organisations to continue serving as guardians of democratic governance.
“Criticise me, disagree with me, but never stop believing in Nigeria,” he said.
On youths, the President urged them to see the country as their future and contribute actively to national development rather than seeking opportunities elsewhere.
He said: “Nigeria is your home and your future. Build here, code here, work here, and vote here. Every great nation was built by those who stayed to solve problems, not by those who abandoned ship.”
The President also commended members of the armed forces, police, intelligence agencies, traditional rulers, religious leaders and community heads for their roles in promoting peace and national cohesion.
The President paid glowing tribute to Nigerians who endured imprisonment, exile, persecution and death during the struggle for democracy, describing them as heroes whose sacrifices made the current democratic dispensation possible.
He saluted the late winner of the annulled June 12, 1993 presidential election, Chief Moshood Kashimawo Abiola, and his deceased spouse, Alhaja Kudirat Abiola, alongside other democracy vanguards.
Former President Muhammadu Buhari in 2018 signed an Executive Order proclaiming June 12, the date of the historic election won by Abiola but annulled by the military, as Democracy Day. It has since been observed as a public holiday.
Those listed for national recognition include Chief Gani Fawehinmi, Chief Bola Ige, Chief Alfred Rewane, Senator Abraham Adesanya, Chief Anthony Enahoro, Alhaji Balarabe Musa, Commodore Dan Suleiman, Dr. Beko Ransome-Kuti, Chief Frank Kokori, Chief Arthur Nwankwo, Mr. Chima Ubani and Gen. Yar’Adua.
Tinubu also announced national honours for many journalists, activists, lawyers, politicians and civil society leaders who suffered persecution, detention, exile and other hardships during the struggle against military rule.
Many military officers who were persecuted during the pro-democracy struggle were also honoured.
They are Ayoka Lawani, Tunde Fagbenle, Oladele Alake, Olatunji Bello, Louis Odion, Segun Babatope, Sam Omatseye, Ademola Osinubi, Bola Bolawole, Lade Bonuola, Femi Kusa, Osa Director, Richard Akinnola, George Mbah, Niran Malaolu, Gbemiga Ogunleye, Jenkins Alumona, Muyiwa Adekeye, Babajide Kolade-Otitoju, Ike Okonta and Ben Charles-Obi (posthumous).
Activists on the list are Debo Adeniran, Ayo Opadokun, Ralph Obiora, Ose Osayande, Sylvester Odion-Akhaine and Arthur Nwankwo (posthumous).
Others are Osagie Obayuwana, Joe Okei-Odumakin, Titus Mann, Joe Igbokwe, Maj.-Gen. Ishola Williams (retd) and Femi Aborisade.
The President equally recognised many military officers, including Maj.-Gen. M.A. Garba, Brig.-Gen. Lawal Jaafaru Isa, Col. Umar Farouk Ahmed, Col. Sambo Dasuki, Col. Lawan Gwadabe, Brig. Jonathan Ndam Temlong, Col. Musa Shehu, Maj.-Gen. Chris Eze, Maj.-Gen. Harris Dzarma, Col. Isa Jibrin, Maj.-Gen. Joseph Oshanupin, Col. Olusegun Oloruntoba, Lt.-Col. Happy Kefas Bulus, Col. J. Okai, Col. Emmanuel Ndubueze, Lt.-Col. Yakubu Muazu and Brig. Yahaya Abubakar, who is the Etsu Nupe.
The President added: “Among the architects of modern democratic Nigeria, we honour General Shehu Musa Yar’Adua for his vision of national partnership.
“In recognition of his contributions, the Federal Government has approved the revitalisation and renaming of the completed Institute of Petroleum Studies, Kaduna, as the General Shehu Musa Yar’Adua University of Geological Sciences and Engineering Technology.”
Tinubu said the full honours list would be released in the coming days.
According to him, the greatest tribute Nigerians can pay to the heroes is to build a nation where freedom is protected, justice is upheld, opportunities are expanded, and government remains accountable to the people.
June 12, he believes, demonstrates the possibility of a united Nigerian nation, noting that while the heroes of that struggle secured political freedom, the responsibility of the present generation is to secure economic freedom.
‘Reforms necessary’
He defended the economic reforms undertaken by his administration, arguing that they were necessary to rescue the country from severe fiscal strain and economic uncertainty.
The President said the reforms had restored stability and credibility to economic management, increased federation revenues, improved fiscal transparency and attracted fresh investments into agriculture, manufacturing, energy, technology, mining, transportation and the creative sector.
He added that domestic refining capacity had expanded significantly, enhancing energy security and reducing dependence on imported petroleum products.
‘We’ll deliver on electricity supply’
On electricity, Tinubu said his administration inherited a sector plagued by inadequate generation, weak transmission infrastructure, huge distribution losses, a metering deficit exceeding four million customers and massive legacy debts.
He noted that the Electricity Act signed by his administration had empowered states to generate, transmit and distribute electricity, while the Presidential Power Sector Task Force had been mandated to tackle the metering gap and raise a N4 trillion bond to settle verified debts in the sector.
The President said the Rural Electrification Agency (REA), with support from the World Bank and the African Development Bank (AfDB), was extending off-grid and mini-grid electricity projects to underserved communities, educational institutions, markets and hospitals across the country.
“Electricity is a democratic dividend we owe every Nigerian. We intend to deliver it,” he said.
Nigeria Investment Opportunities
Highlighting ongoing projects, the President said they were creating jobs, improving connectivity and opening new opportunities for enterprise.
He said the National Agricultural Development Fund (NADF) was deploying 10,000 tractors over five years, while over 1,000 small and medium enterprises had been certified for export.
He added that non-oil exports grew by 21 per cent in the past year.
Despite the progress, the President acknowledged that many Nigerians continued to face economic hardship.
He assured citizens that the government remained focused on reducing inflation, increasing food production, creating jobs, improving living standards and ensuring that the benefits of economic reforms reached every household.
“We are moving from uncertainty to stability. The next phase is about accelerating growth and ensuring the benefits are felt in every home, every community and every region. We believe that democracy must be felt in the pocket,” he said.
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BREAKING: Reps Pass State Police Bill in Major Security Reform Move
The House of Representatives has passed the state police bill, effectively making way for the decentralisation of the Nigerian policing architecture.
The resolution followed the voting by 289 lawmakers in favour of state police during Thursday’s plenary session presided over by the Speaker, Tajudeen Abbas.
Recall that the House committed Thursday’s plenary to voting on the State Police Bill following the spike in killings, kidnappings, and banditry in the past few months.
The session was not without its fair share of drama, as shortly after the lawmakers settled down for the business of the day, Kaduna lawmaker, Bashir Zubairu, moved a point of order, explaining that the document on the proposed state police put together by the House Committee on Constitution Review got to the lawmakers only on Thursday afternoon.
Recognised to speak by the speaker, Zubairu said, “Mr Speaker, this document was only made available to lawmakers in the chambers, and we are yet to go through it. We cannot do justice to it because we have not gone through it.”
Zubairu, a member of the African Democratic Congress, was ruled out of order, allowing the process to proceed.
While the Speaker took members through the clauses, voices shouting “Point of Order” could be heard, but the presiding officer ignored them.
Before the voting began, Abbas announced that the electronic voting system was faulty, noting that the exercise would be conducted based on attendance.
Out of the 290 members in attendance, 289 voted in favour of state police while one voted against. The Speaker abstained from voting.
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