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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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JUST IN: First Lady Secures N30.5bn Support from Dangote, NNPC, Governors for Food Bank

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…Private sector, states rally behind national fight against hunger
…Programme targets vulnerable households, children under six
By Bolaji Ogundele, Abuja
Nigeria’s private sector leaders and state governments on Thursday pledged over N30.5 billion in support of the National Community Food Bank Programme, a flagship initiative championed by the First Lady, Senator Oluremi Tinubu, to combat hunger and food insecurity across the country.

The pledges were announced at the official launch of the programme and inauguration of its Board of Trustees, drawing commitments from major corporate organisations, philanthropic foundations, and subnational governments.

Leading the pack, the Aliko Dangote Foundation, represented by its Managing Director and CEO, Zouera Youssoufou, on behalf of Africa’s richest man, Alhaji Aliko Dangote, committed N20 billion in-kind support over five years.

“It is an honour to stand here today on behalf of the organised private sector. This programme directly addresses food insecurity among vulnerable households, particularly children under six.

“Aliko Dangote Foundation will commit N20 billion in-kind support over the next five years on the provision of fortified and nutritious food products”, Youssoufou said.

She urged broader corporate participation, saying, “I would like to call on the entire organised private sector to actively support this programme,” adding that its success would deliver “a Nigeria where no child goes to bed hungry,” in line with “President Bola Ahmed Tinubu’s Renewed Hope Agenda.”

The Nigerian National Petroleum Company (NNPC) Limited also pledged N10 billion over five years, with Sofia Mbakwe representing the Group Executive Officer, Bayo Ojulari.

“This ceremony stands as a powerful testament of purposeful leadership by Her Excellency Senator Oluremi Tinubu,” Mbakwe said.

Highlighting the programme’s framework in partnership with the Bank of Agriculture, she added, “NNPC Limited is committing a starting sum of N10 billion to be disbursed over the five-year period.”

She assured that the company would “leverage our strategic partners and stands ready to work with you to ensure that this program delivers lasting and measurable impact.”

Also lending support, the Sir Emeka Offor Foundation pledged N500 million, announced by its representative, Chidioke James.

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“Today is not just about launching a fund. It is about launching hope. No society can truly prosper while hunger persists.

“We are very proud to stand with the mother of the nation, the First Lady. The founder has asked that I announce the commitment of 500 million.”

At the grassroots level, the Association of Local Governments of Nigeria (ALGON) pledged full institutional support for the programme, describing it as timely and critical.

Represented by Hamisu Mohammed, ALGON said local governments, as “custodian of the community and the masses,” view the initiative as “a signature legacy project.”

“This initiative comes at a critical time for food insecurity and rising cost of living. Local government fully appreciates grassroots-driven solutions,” he said, pledging “cooperation and partnership particularly in rural and underserved communities.”

Similarly, the Chairman of the Nigeria Governors’ Forum (NGF) and Governor of Kwara State, Abdulrahman AbdulRazaq, assured that state governments would provide substantial counterpart funding.

“Across our states, we see the pressure many households face in accessing affordable and nutritious food. More than one third of the children under five are stunted. This points to chronic undernutrition with lasting consequences for fiscal growth and development. This is not only a health issue, it’s a national issue,” he said.

He praised the First Lady’s “personal commitment” to tackling hunger and aligned the initiative with ongoing state-level nutrition interventions.

“The NGF stands ready to work closely with the federal government… I’ll confer with my colleague… we’ll present a counterpart fund that will closely align to what the Federal Government is donating,” he added, referencing the Federal Ministry of Health’s N17 billion pledge.

 

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BREAKING: Court Puts Off El-Rufai’s Bail Hearing, Sets New Date

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The Federal High Court in Kaduna on Tuesday adjourned the hearing of the bail application filed by former Kaduna State Governor, Nasir El-Rufai, till Wednesday.

The adjournment followed proceedings that took place under tight security, reflecting heightened public interest in the high-profile corruption trial.

Counsel for the ex-governor, Ukpong Akpan, confirmed the development shortly after the session but declined to give details.

“I’m sorry, I can’t talk now, we are in the middle of work. I have to go and file responses. The hearing of the bail application has been adjourned till tomorrow,” he said.

Shortly after the court rose, El-Rufai was escorted out of the premises by operatives of the Independent Corrupt Practices and Other Related Offences Commission in a white Hilux vehicle.

Earlier, the former governor had returned to court amid heavy security for the continuation of proceedings on his bail request.

The security arrangement mirrored the situation during his arraignment last week when he was first docked before the court.

El-Rufai is standing trial before Justice Rilwan M. Aikawa on a 10-count charge bordering on alleged conversion and possession of public property as well as money laundering.

He was brought to court after spending over a month in detention, a development that has continued to draw widespread attention across the country.

The court had earlier fixed March 31, 2026, for the hearing of all pending applications, including the bail request.

However, the anti-graft agency had on March 27, 2026, released him on compassionate grounds following the death of his mother, Hajiya Ummar El-Rufai, in Cairo, Egypt.

In a related development, the former governor was earlier on Tuesday arraigned before a Kaduna State High Court sitting in Kawo on separate charges.

At the State High Court, he was docked alongside one Amadu Sule on allegations ranging from abuse of office and fraud to intent to commit fraud and conferring undue advantage.

The charges, also filed by the anti-corruption commission, are separate from those before the Federal High Court.

After the proceedings at the State High Court, the commission moved El-Rufai to the Federal High Court within the same premises for continuation of proceedings.

With the adjournment, the hearing of the bail application is expected to resume on Wednesday.

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Araraume Felicitates President Tinubu on his birthday. Hails his Reform Agenda and National Milestones

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Senator Ifeanyi Araraume has congratulated President Bola Ahmed Tinubu on the occasion of his birthday, praising the President’s leadership style and the series of reforms that have shaped the direction of the country since he assumed office.

In a statement issued on Saturday, Araraume described President Tinubu as “a courageous reformer whose decisions continue to redefine Nigeria’s economic and governance landscape.” He noted that the President’s first year in office has been marked by bold policy choices aimed at stabilizing the economy and laying the groundwork for long term national development.

Araraume highlighted the removal of the petrol subsidy as one of the most significant economic decisions in recent decades, saying it demonstrated the President’s willingness to confront long‑standing structural challenges. According to him, the policy, though demanding, has redirected national resources toward infrastructure, social investment, and other critical sectors.

He also commended the administration’s unification of the foreign exchange market, describing it as a major step toward restoring investor confidence and strengthening Nigeria’s global competitiveness. The senator noted that the reforms have attracted renewed interest from international partners and signaled a commitment to transparent economic management.

Beyond economic restructuring, Araraume pointed to ongoing infrastructure expansion as evidence of the administration’s focus on national development. He cited the acceleration of key road projects, renewed efforts to expand rail connectivity, and the push to improve power generation and distribution as initiatives that reflect the President’s long term vision for a more productive Nigeria.

The senator further acknowledged the government’s interventions in agriculture, including support for mechanization and targeted programs aimed at boosting food security. He said these efforts are essential to reducing dependence on imports and strengthening local production.

On the diplomatic front, Araraume praised President Tinubu’s engagements across Africa and beyond, noting his role in strengthening regional cooperation within ECOWAS and advancing Nigeria’s interests on the global stage.

“As we celebrate this milestone, it is important to recognize the resilience and determination with which President Tinubu has approached the task of nation building,” Araraume said. “His commitment to reforms, economic stability, and democratic governance continues to inspire confidence in Nigeria’s future.”

He wished the President good health, renewed strength, and continued wisdom as he leads the country through what he described as “a defining period in Nigeria’s history.”

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