The special adviser to the president on economic affairs (Office of the Vice President), Tope Fasua, has said that the depreciation of the naira has reduced the number of Nigerians migrating from the country.

He said this on Thursday, Jan. 16, during a panel discussion at the 2025 Annual Outlook Conference.

Speaking during the panel discussion, Fasua addressed some of the effects of the naira devaluation and the 2025 budget.

He said, “There are a couple of advantages because the naira volume has moved up from about N30tn, N31tn to N49tn; what we’re trying to see is how to milk the PPP advantage. That’s the purchasing power parity. Whereas in dollar terms, it’s not particularly a significant budget and also per capita. But what we can do is focus on the Nigerian economy and the domestic economy and see what naira can buy. So, when we talk about PPP, essentially, you’re saying that $10 in New York, for example, probably can’t even buy your lunch. However, $10 translates to about N16,000 in Nigeria. So, we intend to see how we can focus on the local economy.

“The devaluation, or rather, the depreciation of the naira that we’ve seen since our government came, is double-edged, actually, in terms of its impact. On one hand, it has impacted inflation, but on the flip side, it has reduced the ‘Japa’ rate, because if before you would have been able to get to the UK with maybe N2m or N1.5m for your ticket, now you have to look for maybe N4m or N5m, an economy seat, meaning that people are thinking less of ‘Oh, how do I get out of this country?’”

President Bola Tinubu is set to endorse the creation of Ijebu State following a crucial meeting with the Awujale of Ijebuland, Oba Sikiru Kayode Adetona.

According to People’s Gazette, the meeting, held on January 5 at Tinubu’s Lagos residence, addressed the long-standing request for Ijebu State to be carved out of Ogun State.

The Awujale explained that Ijebu is the only colonial-era province without statehood.

He said the area has the resources to succeed as a state, including industrial estates, a growing airport, and other infrastructure.

The push for the new state gained momentum after Senator Gbenga Daniel of Ogun East introduced a bill to the National Assembly in November 2024.

The bill seeks to amend Nigeria’s constitution to facilitate the creation of Ijebu State.

Senate President Godswill Akpabio has advanced the proposal through legislative stages.

However, some persons have criticized the idea, saying the country is facing too many problems, like poverty and high debt.

Others believe the move is political, with hopes that new states would support Tinubu in future elections.

Despite this, supporters argue that Ijebu State can thrive and bring development to the region.

Talks are also ongoing about creating other states, like Anioma from Delta, which could increase Nigeria’s states from 36 to 56.

Dr. Abdulmumin Jibrin Kofa, the representative for the Kiru/Bebeji constituency in Kano and Chairman of the House Committee on Housing and Habitat, has requested an urgent reconciliation between former Governors Rabiu Kwankwaso and Umar Ganduje, calling for an end to their current conflict.

During an interview with Freedom Radio on Thursday, Jibrin characterized the division as a hindrance for Kano State, highlighting the necessity for all citizens with good intentions to unite in order to aid in reconciling the two political leaders for the improvement of the state.

Jibrin recognized the accomplishments of both leaders, emphasizing their lengthy and notable political careers. He emphasized Kwankwaso’s progression from the Kano State Civil Service to Deputy Speaker of the House of Representatives, along with his subsequent positions as a two-term governor, Minister of Defense, Senator, Ambassador, presidential candidate, and possible future national leader. Similarly, Ganduje’s professional journey began as a civil servant and progressed to roles like Director in FCT, Commissioner, Deputy Governor, Executive Secretary, and two-term Governor, showcasing notable achievements.

“Jibrin noted, recognizing their blessings, that not everyone is selected by God for such positions.”

He also noted that the ongoing conflict between the two has significantly affected Kano, stating that those who understand the circumstances recognize that the source of the unrest stems from the persistent rivalry. Jibrin, a follower of Kwankwaso’s Kwankwasiyya movement, deemed it a personal duty to advocate for reconciliation between the two leaders, despite their political disagreements.

“The matter of politics is distinct; it’s their decision,” said Jibrin, “but as Muslims, it’s our responsibility to bring them together.”

He acknowledged the enduring friendship between Kwankwaso and Ganduje and shared his disappointment regarding the present circumstances, urging both individuals to prioritize peace and unity.