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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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UPDATED: Police Arrest Adeyemi Over Alleged False Claim as PFIPC Director-General in Osun
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Operatives of the Nigeria Police Force Intelligence Response Team (IRT) have arrested Prince Adeniyi Adeyemi, the self-styled Director-General of the controversial Presidential Foreign Intervention Promotion Council (PFIPC), in Osun State.
Adeyemi, who had been the subject of an intensive manhunt by security agencies, was apprehended following intelligence-led operations weeks after investigations into allegations about the purported federal agency’s activities.
According to the Force Public Relations Officer, CSP Anietie Iniedu, the suspect was arrested without incident by a team of IRT operatives and has been moved into police custody for further interrogation.
He confirmed the arrest while speaking to our correspondent in Abuja.
His arrest followed days of coordinated efforts by security operatives, who had earlier raided his family residence while tracking his whereabouts. Reports indicated that investigators questioned his family members during the search for the suspect.
Adeyemi came into national prominence after controversy erupted over the operations of the Presidential Foreign Intervention Promotion Council, an organisation widely described by government officials as having no legal backing or official recognition.
The controversy deepened following allegations that the suspect claimed close links with top government officials and allegedly used the platform to project influence in government circles.
Oyo police rescue abducted farmer after joint security operation
The matter also generated public attention after claims surfaced that huge sums of money were exchanged in connection with promises of government appointments. Those allegations remain under investigation and have not been proven in court.
The Presidency had earlier distanced itself from the activities of the organisation, while the Office of the Chief of Staff to the President, Femi Gbajabiamila, denied any connection with the group or its activities, maintaining that neither the office nor the Presidency authorised the operations of the PFIPC.
Police investigators are expected to interrogate Adeyemi on the circumstances surrounding the establishment and operations of the organisation, the authenticity of documents allegedly used in its activities, and claims that some individuals were deceived into believing it was an official government body.
Investigators are also expected to determine whether other suspects were involved in the alleged scheme and whether additional offences, including impersonation, obtaining by false pretence, forgery and conspiracy, may have been committed.
As of press time, the Nigeria Police Force had yet to issue a detailed official statement on the arrest or announce possible charges against the suspect. Demographics
The arrest is, however, expected to advance investigations into one of the most controversial cases involving the alleged use of a non-existent government agency to project influence within the Presidency.
Adeyemi is expected to remain in police custody pending the conclusion of investigations and possible arraignment before a competent court.
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Breaking : Nigerian Soldiers Kill ISWAP Cameraman, Uncover Foreign Terrorist Network in Borno
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Troops of Operation Hadin Kai have neutralised an Islamic State West Africa Province cameraman and recovered video materials indicating the presence of three foreign facilitators, including a Palestinian Arab identified as a trainer and a Moroccan Arab serving as a medical doctor for the terrorist group in Borno State.
The Acting Military Information Officer, Joint Task Force North East, Operation Hadin Kai, Capt. Muhammed Goni, disclosed this in a statement on Sunday.
According to him, the operational success was recorded on Saturday following a failed infiltration attempt by members of ISWAP terrorists into Cross Kauwa, Kukawa Local Government Area of Borno State.
Goni said the terrorists attempted to exploit the cover of darkness to breach the troops’ position and loot cholera medical supplies.
The statement read, “Troops of 19 Brigade, Sector 3, Joint Task Force North East, Operation HADIN KAI (OPHK), have decisively foiled an attempted infiltration by ISWAP terrorists into Cross Kauwa, Kukawa Local Government Area of Borno State, inflicting heavy casualties on the attackers and forcing them to retreat in disarray.
“The successful defence of the location further demonstrates the vigilance, combat readiness and operational effectiveness of troops who continue to deny terrorist elements freedom of action across the North East Theatre.”
The failed attack, he said, occurred at about 10:20 p.m. on July 11, 2026, when the terrorists attempted to exploit the cover of darkness to breach the troops’ position.
“Alert troops swiftly detected the hostile movement and responded with coordinated and overwhelming firepower, compelling the terrorists to abandon their mission of looting cholera medical supplies and withdraw in confusion after suffering severe losses,” Goni said.
According to him, the attempted looting further lends credence to recent intelligence reports of a cholera outbreak within terrorist enclaves, as well as reports of the execution of some affected members by the group.
“The neutralisation of a terrorist cameraman during the failed assault led to the recovery of a Sony camcorder containing highly sensitive recordings of terrorist activities, including operational footage and propaganda materials.
“Preliminary forensic analysis of the last available video recorded prior to the attack indicates that the operation was coordinated by four senior ISWAP commanders (Qai’ds), alongside three foreign terrorist facilitators. They include a Palestinian Arab identified as Abu Ishaq, assessed to be ISWAP’s overall trainer; a Moroccan Arab identified as Abu Thaiba, a medical doctor serving within the terrorist network; and another Arab operative whose identity is yet to be established,” he added.
He said the presence and active involvement of the foreign nationals further reinforced intelligence assessments that ISWAP continued to benefit from external support, specialist expertise and transnational terrorist linkages.
“Following the successful engagement, troops immediately dominated the area and conducted exploitation operations to ascertain the full extent of the terrorists’ losses,” he added.
The Army spokesman said troops recovered the Sony camcorder, several rounds of PKT and 7.62mm Special ammunition, terrorist uniforms and other combat items during the operation.
He further stated that initial analysis of post-engagement satellite imagery revealed terrorists evacuating the bodies of some of their neutralised fighters during their withdrawal.
“This has since been corroborated by credible human intelligence sources, which confirmed that the terrorists suffered heavy casualties, with many others sustaining gunshot wounds during the engagement,” he said.
According to him, two soldiers sustained gunshot wounds during the firefight and were promptly evacuated by air for advanced medical care, adding that both personnel remained in stable condition.
“The failed infiltration attempt represents yet another significant operational setback for ISWAP and caps a costly weekend for the terrorist group following sustained offensive operations and intensified military pressure across the North East Theatre,” he said.
He added that the outcome underscored the increasing difficulty the terrorists faced in executing coordinated attacks against highly alert and combat-ready troops while further degrading their combat capability, morale and freedom of action.
“Operation HADIN KAI remains resolute in sustaining offensive operations, protecting vulnerable communities and dismantling terrorist networks until lasting peace and security are fully restored across the North East,” he assured.
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BREAKING: Security Forces Rescue Kidnapped Pupils, Teachers in Oyo Forest Operation
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Eight kidnappers arrested
Ibadan, Oyo State – Nigerian security agencies have successfully rescued a group of kidnapped pupils and teachers following a coordinated operation in Orire Local Government Area of Oyo State.
Photos circulating after the operation show the rescued victims gathered in a rural forest location alongside security personnel shortly after they regained their freedom.
According to available information, the victims were abducted by suspected kidnappers before security operatives launched an intensive search-and-rescue mission. The operation, carried out through coordinated efforts by security agencies, led to the safe recovery of the pupils and their teachers.
The rescued victims have since been reunited with security officials and are expected to undergo medical examinations and trauma counselling before being reunited with their families.
Authorities have not yet disclosed whether any arrests were made during the operation or if a ransom was paid. However, investigations are ongoing to identify and apprehend those responsible for the abduction.
The successful rescue has been welcomed by residents of the area, who commended the swift response of the security agencies while calling for increased security around schools and rural communities to prevent similar incidents.
The incident once again highlights the persistent security challenges facing some parts of the country, particularly the threat of school-related kidnappings, which have raised concerns among parents, educators, and community leaders.
Security agencies have assured the public that efforts are continuing to track down the perpetrators and strengthen measures aimed at protecting schools and vulnerable communities across the country.
Further official details are expected as the authorities provide updates on the operation.
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