news
Commercial Value :Tinubu, set to release 60,000MTs of food grains to stabilise prices, Says Edun
The federal government has finalised plans to release an additional 60,000 metric tonnes of food grains to make food available and stabilize the price of foodstuff in the country.
Minister of Finance and Coordinating Minister for the Economy, Wale Edun made this known in Abuja on Tuesday, February 20, at the Public Wealth Management Conference organised by the Ministry of Finance and the Ministry of Finance Incorporated (MoFI).
Edun, in his address, said that President Tinubu is committed to supporting the less fortunate during these challenging times.
He stated that President Tinubu had “previously released strategic grain reserves and is currently releasing 42,000 metric tonnes of food grains, with plans for an additional 60,000 tonnes”.
These measures, the minister said, are aimed at ensuring food availability and stabilizing prices, with the expectation that prices will eventually decrease. The priority is to ensure that food reaches the market and people’s tables, no matter the effort required.
According to Edun, “President Tinubu has always said he will not leave the poor, the vulnerable the weaker in society at times like this. He has previously released strategic grain reserves, he’s currently releasing 42,000 metric tonnes of food grains and he has a plan of releasing another 60,000 tonnes of food grains.
“This is in addition to measures to make sure that whatever is in the stores comes out at this important time and we expect food prices to stabilize and begin to fall in a reasonable period and in the meantime, everything that can be done to put food in the market, on the tables of people will be done no matter what it takes.”
The finance minister talked about the implementation of an executive order allowing the Ministry of Finance, through the Debt Management Office (DMO), to offer government-backed securities.
This initiative aims to restore confidence in the Naira and provide Nigerians, both within and outside the country, the option to save in dollars. By offering dollar-denominated securities, individuals can preserve their savings in dollars while demonstrating their commitment to Nigeria.
He also talked about the collaborative efforts between fiscal and monetary authorities to address economic challenges in Nigeria. He highlighted how the Ministry of Finance’s response, including debt management strategies, led to an increase in Treasury bill interest rates, resulting in improved dollar supply to the economy.
This cooperation between fiscal and monetary policies he said demonstrates a concerted effort to stabilize the economy, reduce inflation and interest rates, and attract both portfolio and foreign direct investments.
The chairman of the MOFI Board, Dr. Shamsudeen Usman, stated that MOFI will take a more active role in managing its assets from now on. He encouraged asset operators to view MOFI as partners, not competitors or regulators.
Usman also assured of MOFI’s commitment to high standards of corporate governance, including a policy to prevent conflicts of interest among staff.
The CEO of MOFI, Dr. Armstrong Takang, outlined MOFI’s renewed mandate, focusing on expectations from both the public and private sectors. He announced the launch of a N100 billion Project Preparation Fund aimed at improving the professionalism in managing public assets.
The goal, he said is to generate commercial value for the benefit of the people and enhance investor confidence in the assets’ operations and management.
Nigeria’s D’Tigress have once again etched their name into the history books, emerging as champions of the 2025 FIBA Women’s Afrobasket in Côte d’Ivoire after a commanding 78-64 victory over Mali in Sunday’s final.
Led by head coach Rena Wakama, the Nigerian side delivered a stellar performance at the Palais des Sports de Treichville in Abidjan to secure their fifth straight continental crown — a feat no other nation has achieved in the tournament’s history.
The win also guarantees D’Tigress an automatic berth at the 2026 FIBA Women’s World Cup in Berlin, Germany.
Having edged past a tough Senegalese team in a dramatic semi-final, where they rallied in the fourth quarter to secure a hard-fought win, D’Tigress showed a different level of composure and dominance in the final against Mali.
Mali came out strong, finishing the first quarter with a 26-21 lead. But Nigeria responded swiftly, leveling the game 41-41 by halftime.
The third quarter saw D’Tigress turn on the style, as they pulled ahead 61-56. By the final quarter, the Nigerian side tightened their defense and restricted Mali to just eight points, cruising to a 14-point triumph.
With this latest victory, Nigeria has now lifted the Women’s Afrobasket trophy seven times in total — 2003, 2005, 2017, 2019, 2021, 2023, and 2025 — and remain unbeaten in the competition for a decade. The team’s last loss in the tournament dates back to October 2, 2015, against hosts Cameroon.
This fifth consecutive title reaffirms D’Tigress’ status as the undisputed queens of African women’s basketball.
President Bola Tinubu has bestowed the national honour of Officer of the Order of the Niger, on the Super Falcons and the entire technical crew.
He also allocated three-bedroom apartments in Abuja to each of the players and the technical crew at the Renewed Hope Estate.
The President also directed the cash award of the naira equivalent of $100,000 each of the 24 players and $50,000 to each of the 11-man technical crew.
This came during a reception in honour of the players and the coaching crew at the Presidential Villa, Abuja.
He said, “I hereby conferred on the players, the 11 man technical team with national honours of the Officer of the Order of the Niger.
“Additionally, I have I directed the allocation of three bedroom apartments in the Renewed Hope Housing Scheme.
“Then there is the cash award of the naira equivalent of $100,000 US dollars each 24 players and the naira equivalent of $50,000 to the 11-man technical crew.”
The President also said he didn’t want to watch the WAFCON final because he didn’t want to have high blood pressure.
Earlier, the President and the First Lady, Senator Oluremi Tinubu, received the Super Falcons at the Presidential Villa on Monday, following their record victory at the 2025 Women’s Africa Cup of Nations in Morocco on Saturday.
The coaster buses conveying the players and coaching crew arrived at the forecourt of the Aso Rock shortly before 04:36 p.m. local time.
The Super Falcons, 10-time African champions after their 3-2 comeback over the Atlas Lionesses Morocco, were received by the President’s Chief of Staff, Femi Gbajabiamila, upon their arrival.
In a post-match video call on Saturday night, President Tinubu praised captain and tournament MVP Rasheedat Ajibade.
He also praised Nigeria’s rally from a 2-0 half-time deficit to claim the WAFCON title.
Over the past decade, the Super Falcons have won four Women’s Africa Cup of Nations titles in 2014, 2016, 2018, and 2024, bringing their total to 10
The Super Falcons emerged champions of the 2024 Women’s Africa Cup of Nations (WAFCON) after pulling off a stunning second-half comeback to defeat hosts Morocco in a pulsating final.
The Moroccans had taken a 2-0 lead in the first half, capitalizing on early momentum and a roaring home crowd at the Prince Moulay Abdellah Stadium in Rabat.
But the Nigerians, showing the grit and pedigree that has made them the most successful team in the tournament’s history, roared back after the break.
WAFCON final: Oramah FC chairman pledges ₦500,000 per goal to Super Falcons
First Lady rallies Super Falcons to victory in WAFCON final
A spirited second-half display saw the Super Falcons flip the script in dramatic fashion, scoring twice to silence the home fans and reclaim the continental crown.
With this victory, Nigeria completes the 10th WAFCON title
-
news5 years agoUPDATE: #ENDSARS: CCTV footage of Lekki shootings intact – Says Sanwo – Olu
-
lifestyle5 years agoFormer Miss World: Mixed reactions trail Agbani Darego’s looks
-
health4 years agoChairman Agege LG, Ganiyu Egunjobi Receives Covid-19 Vaccines
-
lifestyle4 years agoObateru: Celebrating a Quintessential PR Man at 60
-
health5 years agoUPDATE : Nigeria Records 790 new cases of COVID-19
-
news2 years agoEnvironmental Pollutions : OGONI COMMUNITY CRIES OUT, THREATENS TO SHUT DOWN FIRSTBANK,SHELL OIL COMPANY OPERATIONS FOR NOT PAYING COURT AWARD
-
news2 months agoBREAKING: Tinubu swears in new NNPCL Board
-
health5 years agoBREAKING: Nigeria confirms 663 new cases of COVID-19