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Subsidy: “I am ready to work and listen at any time,’’ We will review the minimum wage to reflect the realities, Says Tinubu
..Vested interests resisting subsidy removal – Shettima
President Bola Tinubu on Friday said that the national minimum wage needs a review to reflect realities, assuring that improved livelihood for Nigerians remains a top priority of his administration, with more people-focused economic policies.
President Tinubu also advised national and sub-national governments to work together on the issue, which, according to him, already requires “soul searching.’’
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This is as the All Progressives Congress, APC, governors under the umbrella of Progressive Governors Forum, PGF, have thrown their weight on the removal of subsidy.
Speaking when he received members of the PGF led by the Chairman, Senator Hope Uzodinma of Imo State, at the Presidential Villa, Abuja, President Tinubu said that there is the need to look at the minimum wage
According to him, “We need to do some arithmetic and soul searching on the minimum wage,’’ adding, “We will have to take a look at that together, and the revenue. We must strengthen the source and application of our revenue.’’
President Tinubu urged the governors to seize the opportunity of being chosen among millions of citizens in their states to make a difference in the lives of people, adding that he will work for the benefit of Nigerians.
He said, “This meeting is not strange to me, and the content of the meeting is so valuable. The camaraderie is very stimulating. This is about the Nigerian project, not Bola Tinubu.”
He also assured that the multiple exchange rates will be streamlined, noting that governance was a continuum.
He said, “I have inherited the assets and liabilities of my predecessor. This is the first time you entered the Council Chambers, and it is my first time too for a meeting.
“As progressives and thinkers under the umbrella of the All Progressives Congress (APC), you have a role to play in educating our people and making sure we manage ourselves,’’ the President told the governors.
He further said it was a good and encouraging sign that the APC has a majority in the National Assembly and some Houses of Assembly, which will make it easier to develop policies that will directly impact the economy and the people.
“If we work together, the Nigeria of our dreams is not far away. Rest assured that we will not have multiple exchange rates anymore. You asked for this meeting, and I had to set aside time to be here.
“We have a political party that we will need to manage, whichever way, we have inherited assets and liabilities, and we cannot complain,’’ he stated.
President Tinubu said he would maintain an open-door policy, willing to entertain issues, deliberate, and collectively find solutions to the challenges facing the country, including security.
“It is in our hands, and I am ready to work and listen at any time,’’ he added.
In his remarks, the Vice President, Kashim Shettima, called on the governors to rally around the President as he tackles the challenges that stagnate the economy, like the oil subsidy and multiple exchange rates.
“Let us rally around the President and not buckle. There are vested interests that may want to resist the subsidy removal. Its removal will free resources for the development of your states,” he added.
Earlier, the Governor of Imo State pledged the support of the Progressive Governors to the President, noting that the initial decisions already foretell good intentions for the economy.
“We are here today as members of the APC to fraternize with you as our leader, and congratulate you on your election as President, and Commander-in-Chief.
“We are using this opportunity to express our support for you at this trying time in our history,’’ he said.
Uzodinma noted that the President had started well, by placing the economy and welfare of the people on a priority list, with honesty of purpose.
“We are aware of your capacity and excellent track record,’’ the PGF Chairman stated.
Speaking to correspondents later, Uzodinma, declared that Tinubu never prepared the 2023 Appropriation Act that did not provide for subsidy payment beyond June this year, and therefore, he was not the one that directed the cessation of subsidy payment.
Uzodinma, who noted that all the presidential candidates promised to remove subsidy if elected, also said that since every government must inherit assets and liabilities from preceding governments, subsidy removal was part of the liabilities taken over by the Tinubu administration.
The PGF boss recalled that even the National Economic Council (NEC) led by former Vice President Yemi Osinbajo also agreed that subsidy must go.
He said petroleum subsidy was no longer sustainable as he said it was pulling the country down.
Uzodinma noted that it has come to the point where it was either managed or it would kill the country.
He added: “If you’ll recall, government after government attempted to remove subsidy on petroleum products, right from 1999 till date and it has not been 100% successful. After all, subsidy has been removed from AGO and today, 70% of the houses in various metropolis have generators installed as source of energy.
“Now, during the presidential campaigns, the presidential candidates of all the political parties promised that when they assume office they’ll remove subsidy on petroleum products. No presidential candidate of any political party that did not make that promise as part of his campaign manifesto.
“Now what Mr. President did during the inauguration, he did not direct that subsidy should be removed, we already agreed as a government and in the National Economic Council that subsidizing petroleum products is no longer sustainable because for the past two years, we have been borrowing to subsidize and in various meetings.”
Uzodimma lamented the sudden adjustment of petroleum pump price in less than 24 minutes the President announced that subsidy is gone.
Describing it as man inhumanity to nan, the governor contended that the product that was hiked was still the old product that enjoyed the subsidy.
“I am not aware any fuel marketer has imported fuel,” he said.
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Happy Birthday to Me! 🎂🎉
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Today, I celebrate myself and give all glory and thanks to Almighty God for the gift of life and for bringing me this far. I am grateful for the opportunity to be alive, healthy, peaceful, happy, and prosperous.
As I celebrate another year today, I pray for greater blessings, wisdom, good health, peace, success, and abundant prosperity in the years ahead.
May this new chapter of my life be filled with joy, favour, wonderful opportunities, and fulfilment of my heart’s desires.
Happy Birthday to me! 🥳🎉
Congratulations to me on this special day. 🙏❤️🎂
I wish myself many more happy and prosperous returns. Cheers to a beautiful new year of my life! 🥂🎉
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Update : Mambilla: Nigeria Wins $2.35bn ICC Arbitration, Tinubu Hails Buhari, Obasanjo
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The International Chamber of Commerce tribunal in Paris has ruled in favour of Nigeria in the arbitration brought by Sunrise Power and Transmission Company Limited over the Mambilla Hydroelectric Power Project in Taraba State.
President Bola Tinubu, in a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, said the tribunal rejected the claims by Sunrise.
The company had sought $680m from Nigeria as a settlement sum and interest in relation to a separate arbitration in which it is claiming more than $2.7bn in compensation and interest over disputes surrounding the development of the 3,960-megawatt Mambilla project.
However, the tribunal, as reported by The Cable, also dismissed Sunrise’s claim for $400m arising from the 2020 settlement agreement, according to the details of the award reported on Thursday.
It further ordered Sunrise and its promoter, Leno Adesanya, to reimburse Nigeria 75 per cent of its legal fees and expenses, amounting to $11.82m.
The tribunal also reportedly declared that Adesanya was bound by the arbitration agreement with Nigeria under the settlement agreement and its addendum and that it had jurisdiction over Nigeria’s counterclaim against him and his firm.
In the statement, Tinubu said the ruling demonstrated the government’s determination to defend the country’s interests.
“This latest decision affirms the Nigerian State’s determination not to succumb to predatory and exploitative claims by corrupt local and international entities and their enablers and funders,” he said.
The President commended the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, and officials of the Federal Ministry of Justice for their role in the case.
He also commended former President Olusegun Obasanjo and the late former President Muhammadu Buhari, who testified in the arbitration.
“I also commend the FRN defence team, led by Ms Elizabeth Oger-Gross and Mr Tolu Obamuroh, both of Paul Hastings LLP, for their professional and excellent defence of the country.
“I commend the patriotism and support of former President Olusegun Obasanjo, GCFR, and late President Muhammadu Buhari, GCFR, who testified in the case, which dated back to an illegal 2003 contract to build a 3,050-megawatt hydroelectric plant in Taraba State under a build-operate-transfer model.
“The Federal Executive Council never authorised the contract. I thank the other witnesses in this case, including former Ministers Babatunde Raji Fashola, SAN, and Suleiman Adamu, and the experts, for their active participation in defending Nigeria’s interest in the arbitration,” the statement read.
“I want to assure you that while our country remains committed to partnering with genuine investors and honouring its legal obligations, it will continue to defend all opportunistic claims instituted against our commonwealth strongly.
“Today’s ICC ruling clears the single biggest legal hurdle that has paralysed the Mambilla hydro power project for years,” Tinubu said.
The dispute dates back to an agreement under which Sunrise claimed it had been awarded the contract to construct the Mambilla project.
The company commenced arbitration against Nigeria at the ICC International Court of Arbitration in October 2017, seeking about $2.354bn over an alleged breach of contract.
The parties later entered into a settlement agreement in 2020, under which Nigeria was to pay Sunrise $200m.
A subsequent dispute arose after the government did not make the payment, leading to another arbitration in which Sunrise sought $400m, comprising the $200m settlement sum and a $200m default payment.
In Thursday’s award reported by The Cable, the tribunal rejected Sunrise’s claim that Nigeria had breached its obligations under the settlement agreement and its addendum.
It also rejected the company’s demand for the $400m settlement and default sums.
The Cable reported that the tribunal fixed the arbitration costs at $1.6565m, with Sunrise and Adesanya responsible for 75 per cent and Nigeria for 25 per cent. Of the $11.82m in legal fees and expenses awarded to Nigeria, $2.5m is to be recovered from funds held in escrow by the ICC, while the remaining $9.32m is payable by Sunrise and Adesanya, with interest at 10 per cent annually, compounded annually, from notification of the final award until payment.
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Tinubu Tasks NIMC on 95% NIN Coverage Before December — Gbajabiamila
President Bola Tinubu has urged the National Identity Management Commission (NIMC) to work towards achieving 95 per cent National Identity Number (NIN) coverage by December 2026.
The President gave the directive at the State House, Abuja, while delivering the keynote address at the 2026 National Identity Day celebration organised by NIMC.
He acknowledged NIMC’s excellent work so far, noting that National Identity Number (NIN) enrolment peaked at about 142 million, up from over 80 million Nigerians captured in the National Identity Database when he assumed office more than three years ago.
President Tinubu was represented at the event by his Chief of Staff, Hon. Femi Gbajabiamila. The event had the theme: “Nigeria’s digital public ecosystem: powering Africa’s digital economy.”
It was attended by the representative of Vice President Kashim Shettima, Senator Ibrahim Hadejia; the Secretary to the Government of the Federation (SGF), Senator George Akume; the Minister of Interior, Dr Olubunmi Tunji-Ojo; and the Minister of Education, Dr Tunji Alausa, amongst others.
President Tinubu said the target should be pursued through expanded ward-level enrolment, mobile registration initiatives and continued deployment of licensed enrolment networks. Government
The President noted that his administration’s vision goes beyond NIN coverage, stating that Nigeria “must build an identity system that is continuously useful, secure and responsive to the needs of Nigerians.”
“We are laying the foundations for a future of integrated digital services, including e-health records, e-transport systems and a more harmonised national data architecture.
“We must do this while protecting the rights, privacy and dignity of our citizens. The digital state must never become a state without accountability.
“Our commitment must therefore remain clear: innovation must be matched by responsibility. Efficiency must be matched by inclusion, security must be matched by trust. And digital transformation must ultimately improve the lives of ordinary Nigerians,” President Tinubu said.
The President, who commended the Director General of NIMC, Engr Abisoye Coker-Odusote, for a job well done over the past three years, called on Nigerians who have not obtained their NIN to do so, saying their NIN represents their connection to a modern Nigerian state.
Tinubu also applauded this year’s National Identity Day theme as very important, saying “Nigeria’s digital ecosystem must power Nigeria’s digital economy–and Nigeria’s digital economy must help power Africa’s.”
The President further said National Identity remains the engine room for the government’s Renewed Hope Agenda, noting that identity transformation is contributing directly to the government’s priorities.
“The NIMC ecosystem has created opportunities for thousands of Nigerians across the country. With more than 173 private companies, 30 state governments and 14 public sector institutions approved as licensed enrolment agents, the identity ecosystem is generating employment for enrolment officers, data professionals, supervisors, technology specialists and other support personnel. This is a digital infrastructure creating real economic opportunity,” he said. NigeriaNews Subscription
Speaking on the significance of national identity to Nigeria’s national security, President Tinubu said the two are linked, describing the connection as indispensable.
“A secure identity system is indispensable to a secure nation. By strengthening identity verification and enabling responsible information sharing across relevant government institutions, we are improving our capacity to combat identity fraud, financial crimes and other threats to national security.
“The ongoing collaboration among institutions, including the Nigeria Police Force, Nigeria Immigration Service, and the Economic and Financial Crimes Commission, demonstrates what is possible when government systems work together,” President Tinubu said. GeographicReference
The Minister of Interior, Dr Olubunmi Tunji- Ojo, also praised the Director General of NIMC for delivering excellent work with little supervision, saying she has shown appreciable leadership.
He said the President expected more from her and her team, adding that Nigerians need wider, easier, and more convenient access to identity services, including for Nigerians in the diaspora.
“We need more in providing a trusted national public key infrastructure and digital public infrastructure that support secure digital identity, authentication and electronic trust services, more in including a stronger foundation for Nigeria’s digital economy, digital governance and long-term national development,” Tunji-Ojo said. GeographicReference
The Director General of NIMC, Abisoye Coker-Odusote, in her remarks, commended President Tinubu and the Minister of Interior for their support, saying it has brought about a total transformation of Nigeria’s identity and existence.
She said, “Our reach tells its own story. Enrolments have grown from less than 100 million to over 142 million Nigerians and legal residents. The engine behind that growth is the ward-to-ward Enrolment Project, undertaken directly under Mr President’s initiative. NigeriaNews Subscription
“This project carried our officers into all 8, 8,809 boards of this Federation and mobilised the National Youth Service Corps members as adult enrolment officers in connection with front-end partners in communities that had never before hosted an enrolment desk.
“Alongside it, we launched the Self- Service Notification Platform, which has already processed close to two million record updates, turning a process that once took weeks in two communities into one that takes 24 to 48 hours directly from a citizen’s phone.”
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