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Labour Party chieftain, Okupe, Makes a u-turn and applauds Tinubu for hitting the ground running, showing determination and courage in leadership

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Achieftain of the Labour Party (LP) Doyin Okupe has commended President Bola Tinubu for showing commitment, zeal and courage in directing the affairs of the nation.

Okupe, an ex-aide to former President Olusegun Obasanjo in his piece titled: “For President Bola Tinubu: Still Many Rivers to Cross,” applauded the President for abolishing fuel subsidy and equalising foreign exchange.

He said: “President Bola Tinubu actually hit the ground sprinting; showing much determination, zeal commitment and courage. He has taken 2 extraordinarily bold steps by abolishing fuel subsidy and equalizing foreign exchange.

“This without doubt is causing very severe pain and hardship on the populace. However, in order to ground these policies properly, and reduce the pain on the populace, the President will still need to take more bolder steps.

“1. Nigeria must quit OPEC. – In about two decades from now, oil reserves may become meaningless. The present allocation of less than 2 million barrels per day for Nigeria with a population of over 200 million people and it’s prevailing strangulating economic conditions, given volumes of export to our main foreign exchange earner (90%) is inimical to our growth as a nation and to the wellbeing of the citizens.

“Outside OPEC, Nigeria can reduce it’s selling price of crude but also increase it’s exports to 3 million barells and above per day.

“This will increase accruable revenue from forex by up to 200% or more, which will allow the CBN have more supply of forex to the banks. In the face of surplus liquidity in forex supply, Naira will gain tremendous value over the Dollar.

“2. The present situation whereby the oil majors earn 60% of our accruable revenue from sales of oil leaving Nigeria with only 40% is no longer economically and financially prudent or reasonable. Saudi Arabia, using its own Aramco drills its own oil and earns 100% of the revenue from sales.

“We may not be able to achieve this instantly, but we should renegotiate with the oil majors for the ratio to shift in the favour of Nigeria to 60:40 minimum, even if we must add considerable investment in the processing for oil.

“3. The NNPC can no longer serve fully, neither can it meet the full expectations of it’s obligations to the Nigerian people. I am inclined to recommend that the President and his team should take a look and study the Atiku Abubakar model as it concerns the NNPC as a commercial entity.

“4. Most of the local refineries can still be made to be functional for the next 50 years. Part of the massive revenue inflow from the equalization of the forex regime should be used to refurbish once and for all, all our refineries, employing the best acceptable international bidding procedures to choose reputable international contractors to be engaged in the refurbishment programme.

“This should be done outside the purview of the NNPC and by a special presidential team that will abide by the best principles of honesty and transparency.

“5. Government must instantly liberalize licensing for investors who are interested in building petroleum refineries in Nigeria; especially modular refineries.

“6. The present crop of Nigerians engaged in crude petroleum refining who are scattered all over the place should no longer be hounded by task forces but rather harnessed officially into the downstream sector and licensed under supervision to produce and sell petroleum products.

“7. Government must deploy all powers and resources available to it to put a final end to crude oil theft and limit to the barest minimum, pipeline vandalization throughout the country.

“8. In spite of our leadership of ECOWAS in this period, the Nigerian government should encourage the deployment of diplomatic crises management approach and seek ways by using its influence with the organization to end the crises in Niger as quickly as possible as a precursor to urgent steps that need to be taken towards the activation of the plan to build the trans-sahara gas pipeline from Nigeria to Algeria and Europe, through Niger and Algeria.

“If this can be accomplished in the next 3 years, with Nigeria being the 9th highest deposit of gas in the world, sales of gas to Europe will bring in revenue in excess of $30b per annum.

“9. In order to ameliorate the present hardship in the country and give succor especially to the poor, government will have to revisit the 100% abolition of fuel subsidy pending the time when some of the items enumerated above can be accomplished. In the mean time, part of the excess inflow from forex equalization can be deployed to fund a supplementary budget to the National Assembly to cover for whatever percentage of the subsidy regime that government considers will suffice to grant the desired relief of the current hardship.

“10. The equalization of the foreign exchange regime instantly brings in massive revenue into the federation account from NNPC. Last month, for the first time ever, a sum if 1.5tr was available for sharing among the 3 tiers of government.

“The implication of this is that each tier of government will have the requisite financial cushioning to increase minimum wage to at least N60,000 per month.

“The rest of the excess funds can be channeled towards the repair and refurbishing of refineries as stated above and further strategic infrastructural and human development projects especially at states and local government levels.

“Furthermore, the more export trades our small and medium scale enterprises and business concerns within the country undertake will boost and improve the percentage of inflow of Dollars from non-oil exports.

“The weakening of the naira also has a major economic advantage of making our goods and services cheap abroad. Government must seize the situation to encourage the export if anything and everything by individuals and enterprises.

“Such encouragement may include payment of special grants per tonnage of goods exported.

“11. In the same vein, a major international drive and campaign must be undertaken by the CBN to encourage Nigerians in diaspora to use the official platform for remitting money home from abroad. This may be in form of waving commissions and fees chargeable on transfers.

“With an inflow of nearly $25b per annum from the diaspora community, Dollar supply to the CBN will increase to a large extent.

“12. Power generation and distribution is a major player in our economy; creating employment and improving the living standard of people generally.

“With this in view, I will strongly recommend that government shifts the level of power generation without official licensing from 1 MW to 5 MW. The cost of generating power from various sources is about $1-1.2m per MW on the average. With this singular policy, up to 1,000 local investors can enter into the power generation market in less than 1 year thereby boosting our power generating potential by more than 5,000 MW in 1 year.

“If this policy is followed with more liberalization of the power act of 2022, the need for generating sets by millions of Nigerians will drastically reduce by more than 80%. This will also further cause a decline in the demand by the populace especially the lower class for petrol to power small generators either for business or leisure.

“In conclusion, I personally believe that President Bola Tinubu is a thinker and an achiever. I have therefore enumerated the points above just to stimulate thoughts and actions and draw attention to areas which I consider if exploited, will add value to the plans of the current administration, increase revenue inflow to the country, reduce hardship and combat poverty.”

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Hon. Marcus Adedini Joins 2027 Ife Federal Constituency Race, Promises People-Centered Leadership

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……Engr. Adedini Declares for 2027 Reps Race, Picks Nomination Forms

Engr. Marcus Adedini has officially declared his intention to contest the House of Representatives seat for Ife Federal Constituency in the 2027 general elections, following the purchase of his nomination and expression of interest forms.

His declaration marks his formal entry into the race and reflects what he described as a long-standing commitment to public service, grassroots development, and policy-driven leadership across Ife land.

A development advocate and grassroots mobiliser, Adedini brings years of community engagement and policy experience to his ambition. Through his initiative, he has spearheaded several community-based interventions spanning education, healthcare, youth empowerment, and social welfare.

In the education sector, his programmes have supported students with scholarships, learning materials, and infrastructure development. In healthcare, he has facilitated medical outreach initiatives aimed at improving access to services and raising community health awareness.

Adedini has also implemented youth empowerment schemes, equipping young people with vocational skills, startup support, and capacity-building opportunities to promote entrepreneurship and reduce unemployment. His efforts extend to women and vulnerable groups through targeted empowerment programmes designed to improve livelihoods.

Beyond grassroots initiatives, Adedini has gained legislative exposure, contributing to the drafting of bills and motions in key sectors, including education, healthcare, and social development. Supporters say his experience in budgeting and project facilitation positions him to attract federal projects to the constituency.

Calling for support, Adedini urged residents of Ife Federal Constituency to rally behind what he described as a shared vision of inclusive growth and sustainable development.

He pledged to run a people-focused and issue-based campaign, promising effective representation and impactful service if elected.

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FEC Backs $2.99bn Rail Projects, Sets Stage for Power Sector Shake-Up

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… Lagos Green Line, Kano, Kaduna rail schemes to boost connectivity

… Tinubu to chair power sector task force as reforms gather pace

The Federal Executive Council (FEC) on Thursday approved a $2.99 billion package of rail infrastructure projects and the establishment of a Presidential Task Force on Power Sector Reform, in a move signalling a renewed push by the administration of President Bola Ahmed Tinubu to deepen infrastructure development and unlock economic growth.

Briefing State House correspondents after the Council meeting, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the rail projects span key urban corridors and are designed to enhance mobility, reduce congestion, and stimulate regional commerce.

He listed the projects as the Lagos Green Line Rail, the Kano State Metro Rail, and the Kaduna State Rail project, noting that they have already been captured in the extended 2025 budget.

“The Federal Executive Council approved three transformative rail projects – Lagos Green Line, Kano State Metro Rail, and Kaduna State Rail project. These projects are to be sponsored by the Ministry of Finance Incorporated,” Oyedele said.

He explained that the approvals align with the administration’s broader infrastructure strategy, which prioritises rail transport as a cost-effective and sustainable alternative to road networks.

The Lagos Green Line is expected to complement existing mass transit systems in the commercial hub, while the Kano and Kaduna rail schemes are projected to boost passenger and freight movement across northern Nigeria, improving trade and economic activity.

In a related development, the Minister of Information and National Orientation, Mohammed Idris, announced the creation of a Presidential Task Force on Power Sector Reform, alongside key appointments aimed at strengthening governance in the electricity industry.

Idris said the Council approved the appointment of former Minister of Power, Lanre Babalola, as Special Adviser on Power to the President, to enhance coordination and policy oversight.

He disclosed that the President would chair the task force, with Babalola playing a central role in driving its activities.

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“The task force is part of renewed efforts by the administration to reposition the power sector as a critical driver of industrialisation and economic growth,” Idris said.

According to him, the decision followed the submission of a report by a presidential committee set up on March 4 to review the commercial and institutional framework for the proposed Grid Asset Management Company (GAMCO).

He noted that the task force brings together key stakeholders, including the Ministers of Finance, Power, Industry, Trade and Investment, Information, and the Attorney-General of the Federation, alongside regulators and representatives of electricity generation and distribution companies.

Idris said the body would focus on implementing far-reaching reforms to address structural bottlenecks in the sector, stressing that stable electricity supply remains central to Nigeria’s economic transformation.

He added that the government is committed to a comprehensive overhaul of the power sector to unlock industrial productivity and improve living standards.

The minister further disclosed that the FEC meeting was preceded by the swearing-in of a National Commissioner of the Independent National Electoral Commission (INEC) and four Permanent Secretaries.

He said President Tinubu administered the oath of office on retired Rear Admiral K. M. Marafa as INEC National Commissioner following her confirmation by the National Assembly.

Idris added that the Council deliberated on a 32-point agenda, reflecting what he described as the administration’s broad reform focus across critical sectors of the economy.

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Tinubu Fires Back at Critics: Exploiting Insecurity Won’t Stop My Second Term

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…directs action against sponsors of violence, backs Plateau peace committee

President Bola Ahmed Tinubu on Tuesday night declared that attempts by his political opponents to exploit insecurity to force him out of office would fail, insisting that he would not only remain in office but also seek a second term.

Speaking at the State House, Abuja, while receiving stakeholders from Plateau State, led by Governor Caleb Mutfwang, the President described himself as resolute in the face of political pressure.

“You are playing to the hand of agents, including my own enemies, who want to use insecurity to get rid of me. But I’m a very stubborn politician. I just refuse to go. And I will campaign for my second term,” Tinubu said.

The President warned that the Federal Government would move decisively against individuals found to be instigating or financing violence across the country, stressing that credible intelligence would be acted upon without delay.

“If you identify and you know the name of troublemakers, agents provocateur, who want to continue killing or instigate killing, let us know. We will use the instrument of office to deal with them,” he said.

Tinubu emphasised that security agencies stand ready to confront such threats once actionable information is provided, noting that the recurring cycle of violence must end.

In a move to strengthen peace efforts in Plateau State, the President also endorsed a newly constituted peace committee comprising former governors of the state, charging them to work collectively toward lasting solutions.

He directed the committee to review existing white papers on past conflicts and harmonise recommendations for implementation.

“Call one another. Ignore the Governor’s Committee if you have to, or incorporate them. Take that white paper, go through it among yourselves and agree to implement it.

“If the ones you have chosen before now are not working, you have to mix and amend membership. Forget those committees you mentioned to me, if it’s not working, it’s not working. Consider this group as the committee until we find a lasting solution,” the President said.

 

 

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