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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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Update : FG Outlaws Meter Installation Charges, Vows to Sanction Defaulters
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The Federal Government has banned electricity distribution companies and installers from collecting any form of payment for meters, warning that DisCo officials and installers found extorting customers will be prosecuted.
The Minister of Power, Adebayo Adelabu, issued the warning on Thursday during an on-site inspection of newly imported smart meters at APM Terminals, Apapa, Lagos.
Adelabu said the meters were procured under the World Bank–funded Distribution Sector Recovery Programme and must be installed for consumers free of charge, stressing that any demand for money would be treated as an offence.
Adelabu, who was received into the Apapa Port Command of the Nigerian Customs Service by Area Controller Emmanuel Oshoba, expressed happiness over the importation of another tranche of 500,000 smart meters under DISREP.
He said the meters would be given to all electricity customers, regardless of their band. “I want to mention that it is unprecedented that these meters are to be installed and distributed to consumers free of charge—free of charge! Nobody should collect money from any consumer. It is an illegality. It is an offence for the officials of distribution companies across Nigeria to request a dime before installation; even the indirect installers cannot ask consumers for a dime.
It has to be installed free of charge so that billings and collections will improve for the sector.
“The main objective of coming here today is to carry out a physical on-site inspection of shipments of smart meters that the Federal Government has imported under the World Bank-funded Distribution Sector Recovery Programme. This programme is supporting the Federal Government to import a total of about 3.4 million meters in two batches; the first batch is 1.43 million meters, out of which we have received close to about a million meters. Currently, almost 150,000 meters have already been installed across all distribution companies in the country.
“And what we have today is close to 500,000 meters that we just received. They are all smart meters, and I believe that the journey of completely eliminating the meter gap in the Nigerian power sector has just begun,” Adelabu said, even as he expressed dissatisfaction with the pace of metering.
Adelabu was optimistic that in a couple of years, every household, business, and institution would be fully metered so that billings and collections in the power sector would become more transparent, fair, and just. He added that it would also improve the readiness of electricity consumers to pay their bills, leading to improved liquidity in the sector.
“I’m quite excited and elated with what’s happening because it’s unprecedented. This is the first time in the history of this country that a government will be importing and locally buying this number of meters to ensure that the power sector is completely transformed. This is like walking the talk. Our target reform in the sector is not just verbal. Nigerians can see that this is real; it’s not just a promise of the tongue.
“We said it is free. We are not saying this behind closed doors. We are telling Nigerians that the distribution and installation of these meters in every location is free of charge, and it is declared an offence—an illegality—for any DisCo official or installer to request money from the beneficiaries of these meters. We will track and monitor this installation. We also await tip-offs. We have the regulatory commission (NERC), which has offices in some of these locations, and the state regulatory authorities also have offices in each state.
“We are going to open a customer complaint desk whereby, if you notice any such requests for illegal money, you report it, and the authorities will follow up. We are not leaving the installation to the DisCos alone; we’re also creating an interface between the installers and consumers to accelerate the pace of installation. We have some issues with the data and addresses of unmetered customers. We are working hand-in-hand with the DisCos to ensure clean data so that we can accelerate installation.
“We also want to maintain a register whereby unmetered customers can register their names. Once we have a list, we will validate it with the DisCos, improving the pace of installation. We are looking for confirmed cases of requests for money by any DisCo official or installer. Nigerians will know what we can do, and it will serve as a deterrent for others not to commit such an offence or illegality. That’s the plan.
“Extortion is not allowed, but there must be confirmed cases of such extortion, and the officials involved—no matter how high—will be prosecuted. It will be publicised and serve as a deterrent to others with similar intentions. We will not allow that. This is a government effort, and no activity of a DisCo or installer should frustrate government efforts to ensure that life is made easy for Nigerians and that we have a stable, reliable, and functional power sector,” he said.
Adelabu added that the Tinubu administration is resolving a decades-long problem that has affected liquidity. “But the boldness, courage, and political will of the government to go ahead with this should be commended. We will track it end-to-end to ensure that the government’s effort is well implemented and our desired objectives are achieved.
“The aggregate meter gap covers all categories of customers. We are not discriminating. We are prioritising every Nigerian, every customer, every electricity user. The issue of Band A, Band B, or Band C is temporary; it is our systematic way of ensuring this reform reaches everyone. The meters will be given to all levels of customers and not restricted to a single band. I am committing to that,” he stressed.
As journalists expressed doubts over the possibility of free meter distribution to customers, the Director-General of the Bureau of Public Enterprises, Ayo Gbeleyi, stated that the bureau coordinates the implementation of the Distribution Sector Recovery Programme on behalf of the Federal Government and serves on the boards of all 11 electricity distribution companies.
Gbeleyi said, “Regarding concerns that DisCos are delaying meter installations, you will soon see a new order or circular from the Nigerian Electricity Regulatory Commission prescribing the protocols and processes DisCos must follow to ensure unhindered access for meter installations.
“We are monitoring this. We have our dashboard, trackers, and all stakeholders’ hands on deck to ensure seamless and rapid deployment of these meters. One more thing—the meters here are manufactured to the specific requirements of each DisCo. They are inscribed on the meter, with an anti-theft protocol embedded. The configuration is for a particular DisCo, so a meter configured for Eko DisCo cannot be installed in Ibadan.”
Speaking, the Chairman of Mojec, Mojisola Abdul, said the meters supplied by the Federal Government are designed to genuinely generate more revenue for the country and supply more power.
“I’m telling you, physically, we have installed almost 150,000 meters, and they are free. Don’t give anybody money. You are not allowed. We had a meeting Wednesday with the minister and the DG of BPE about further progress on making it easy for every Nigerian. We are calling it mobile registration of free meters. If you register today, your meter will be installed within three days,” she said.
On the delay in meter installations after months of application and payments made, the minister reassured, “This is our country. It is valid that there will be apprehensions and reservations because of past experiences. Previously, there was limited meter availability, and payment was required.
“But this programme has two advantages: first, the volume is now sufficient—we have received almost 1 million meters, with another 1.55 million meters coming in the second phase. Second, the meters must be installed free of charge. The complications experienced in the past will be completely eliminated. We had a meeting on Wednesday for almost two to three hours to discuss all existing complications and foreseeable difficulties, and I assure you we already have effective solutions to all these problems.”
Adelabu also visited the National Meter Test Station in Oshodi, where meters are tested by the Nigerian Electricity Management Services Agency to ensure they meet required standards. Nigeria currently has over five million customers under estimated billing.
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Impeachment Saga : Rivers Chief Judge Acknowledges Assembly’s Submissions Against Fubara
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….Gov throws jibe, describes impeachment notice as ‘love letter’
Vows to avoid actions capable of breaching peace
The office of the Rivers State Chief Judge, Justice Simeon Amadi, has received the letter from the State House of Assembly requesting him to constitute a seven-man committee to probe the allegations of gross misconduct leveled against the state Governor, Sir Siminalayi Fubara and his Deputy, Prof. Ngozi Odu.
The House of Assembly Committee Chairman on Petitions, Information and Complaints, Dr Enemi George, confirmed that the Chief Judge had acknowledged receipt of all the documents.
Also received by the CJ’s office were other documents detailing the allegations of gross misconduct against the governor and the deputy governor, copies of the Rivers State Impeachment Panel (Conduct of Investigations) Procedure 2025 and photocopies of The Nation, The Guardian and The Sun, among others.
George said: “It is important to inform the good people of Rivers State that Mr. Speaker has already complied with the Constitution and letters sent by him to the Chief Judge have been received and acknowledged.
“All relevant documents including the Notices of Allegations of Gross Misconduct were attached”.
He added: “Every step going forward, what can happen or what cannot happen is clearly stated in Section 188 of the Constitution.
“The good people of Rivers State should remain calm and should not listen to those who want to truncate our democracy.”
He commended and thanked the good people of Rivers State for their support and prayers for the 10th Assembly in particular and Rivers people at large.
The Rivers State High Court sitting in Oyigbo Local Government Area has however issued an interim injunction restraining the CJ from receiving, forwarding, considering or acting on any request, resolution, articles of impeachment or any form of communication from Speaker Martin Amaewhule and other members of the State House of Assembly for the purpose of constituting a panel to investigate the alleged misconduct against the governor and his deputy.
They just landed me a ‘love letter’, says Fubara
Governor Fubara, in a veiled reference to the impeachment notice, called it a love letter.
“This 2026 that I thought would have been the finest, they just landed me a love letter,” he said while speaking as special guest during the finals of the 2026 Port Harcourt Polo Tournament in Port Harcourt, the Rivers State capital.
He added:”That notwithstanding, we must move on and carry on the responsibilities as a government. We will continue to support everyone who means well for Rivers State.”
He vowed that he would not support, directly or indirectly, any action capable of undermining peace and safety in the state.
He insisted that the protection of lives and property remained the primary responsibility of his administration.
He emphasised that he remained the governor of the state and would continue to deliver on the promises made to the people.
Fubara expressed satisfaction that the 2026 Port Harcourt Polo Tournament was held for one week without any incident.
He described the peaceful conduct of the event as a clear indication that Rivers is safe for residents, visitors and investors.
A supporter of the governor, Amb.Chijioke Ihunwo, asked the assembly members to perform their functions independently.
He pleaded with President Tinubu to intervene on the matter, insisting that the governor had done nothing to warrant his removal.
He said: “This assembly must remain independent to allow peace to prevail in the state.
“Governor Fubara has done nothing to warrant his removal. President Tinubu should intervene in this matter as the leader of the party.”
The high powered committee set up by the Pan Niger Delta Forum (PANDEF) to reconcile the feuding sides in the Rivers imbroglio is said to be working round the clock to stop the planned impeachment.
The committee members have already met with Federal Capital Territory (FCT) Minister Nyesom Wike in Abuja and separately with Fubara and some other stakeholders.
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Alleged Arms Discovery: Malami Faces DSS Probe as EFCC Denies Victimisation
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Economic and Financial Crimes Commission (EFCC) chairman Ola Olukoyede has faulted the persecution claim by the immediate-past Attorney-General of the Federation and Minister of Justice, Mallam Abubakar Malami (SAN).
He described it as unfortunate that some Nigerians were buying into the narrative when Malami’s probe started before his appointment.
Malami is standing trial alongside some family members on 16 counts of money laundering involving about N8.7 billion.
Speaking on a national television yesterday, Olukoyede dismissed Malami’s claim of vendetta against him, saying the commission has not wavered in investigating and prosecuting those suspected to have been involved in corruption cases.
“There’s nothing like that. The particular case predated my appointment. And, I didn’t give a nod to initiate proceedings until I found that we have a water-tight investigation,” he said.
The EFCC boss denied being indicted by Justice Ayo Salami’s panel.
Olukoyede said: “I challenge those making such claims of indictment against me by Justice Ayo Salami Panel to publish the report.
“Let me tell Nigerians that the commission’s investigation panel cleared me of any wrongdoing. The presidency at the time also cleared me. Also, the law enforcement agencies handed me a clean bill.
“I can say clearly that there’s no report anywhere that I’ve been involved in any fraudulent dealings, whether as the commission’s chief of staff, secretary, and now, the chairman of the commission.”
Noting that the commission, under his watch, made notable achievements last year, he said: “Our big win in 2025 was our ability to review and revive old cases that Nigerians thought were dead.
“Some of the cases affect past governors and ministers, and many such cases are in courts.
“We were able to recover assets. Nigerians are aware of the Lokogoma assets. One major recovery was a university.”
The EFCC recovered Nok University in Kachia, Kaduna, after a court ordered its final forfeiture because it was built with stolen public funds by a former civil servant.
It was converted to the Federal University of Applied Sciences,
Immediate-Past Attorney-General of the Federation and Minister of Justice, Mallam Abubakar Malami (SAN), is facing a fresh investigation over the arms and ammunition found in his house.
Newsthumb learnt that the arms were uncovered at his Kebbi country home by the operatives of the Economic and Financial Crimes Commission (EFCC) during a search.
The anti-graft agency, it was further learnt, handed them over to the Department of State Service (DSS) for a comprehensive probe because it is not within its remit to do so.
The number of arms and ammunition could not be immediately ascertained, but it was gathered that they are high in number to attract a full DSS investigation.
Malami, who was granted bail last week along with his sons – Abdulaziz, Abiru-Rahman, and others – is still in the Kuje correctional centre, having been unable to perfect his bail conditions.
But, sources said he might be taking things slowly to stall the DSS investigation into the weapons found in his house.
“The former minister is being separately investigated for allegedly having arms in his house in Birnin Kebbi. The inventory of the shock find has been handed over to the DSS.
“It is now left to Malami to explain to the DSS how he came about the arms. That’s why he is yet to perfect his bail conditions. He is holed up in prison to avoid arrest by the DSS.
“DSS operatives are within the precincts of Kuje Correctional Service to invite Malami. He got wind of their presence and raised the alarm. But the law must take its course.”
Another source within the EFCC said Malami had yet to meet his bail conditions.
“By our records, the ex-AGF is still in custody. We saw all manners of fake clips on social media on his purported arrival and rousing reception in Kebbi State,” the source said.
The source added: “The investigation into Malami’s activities during his tenure began when former EFCC Acting Chairman Ibrahim Magu was in office.
“Investigation continued through the administration of another Acting Chairman, Ibrahim Chukkol, to the present Executive Chairman. Chukkol, who works in the agency, was in charge briefly before Olukoyede’s appointment.
“There is nothing vindictive about his investigation since 2019. It is an inherited case, and the ex-AGF knows this.”
Olukoyede confirmed that he inherited the Malami case during an interview last night on a national television.
A Federal High Court in Abuja last week ordered the interim forfeiture of 57 assets linked to Malami and his two sons.
The assets have been valued at N213, 234,120,000.
The court has, however, given Malami and the sons or any other claimant a 14-day leave to show proof that the assets were legally acquired.
Failure to present legitimate claims within 14 days may lead to the permanent loss of the assets to the Federal Government.
The court’s order was based on the invocation of the Non-Conviction Asset Forfeiture Clause in the EFCC Establishment Act.
The EFCC had applied to the Federal High Court to seize the suspicious properties in Abuja, Kano, Kaduna, and Birnin-Kebbi.
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