Politics
Naira depreciation has reduced japa rate – Tinubu’s aide lists advantages of Naira devaluation.
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?’”
Politics
PDP Holds BoT Meeting, Vows To Restore Confidence, Hold Congress In States
The Peoples Democratic Party (PDP) Board of Trustees (BoT) is presently meeting in Abuja.
In his opening address, the BoT Chairman, Senator Mao Ohuabunwa, reaffirmed the commitment of the body to restoring confidence within the party and organizing congresses in states where they have not yet been held.
Senator Ohuabunwa told members that the national leadership is ready to work collaboratively with all state chapters to bring fresh leadership and stability across the country.
He outlined the PDP’s roadmap: conduct overdue state congresses, consolidate ongoing achievements, and support the national leadership to steer the party back on course.
According to him, these steps are critical to ensuring unity, transparency, and strengthening grassroots engagement.
By holding timely congresses and reinforcing organizational discipline, PDP hopes to rebuild trust among members and present a more organized, credible front ahead of future elections.
Politics
BREAKING: Talon safe as loyalist forces regain control after brief coup scare
Benin’s President Patrice Talon is safe, and security forces are restoring order after a faction of soldiers claimed to have removed him from power, the presidency announced on Sunday.
In a brief statement, the presidency dismissed the soldiers’ declaration as the actions of a fringe group with limited influence.
“This is a small group of individuals who only managed to seize the television station. The regular army is steadily regaining control. Both the city and the entire country remain completely secure,” the statement said.
The clarification follows an earlier broadcast by soldiers identifying themselves as the “Military Committee for Refoundation,” who declared that Talon had been removed from office.
The government has since described the broadcast as an isolated disruption, assuring citizens that the situation is under control.
Politics
Orluzurumee Shifts Expanded Stakeholders’ Meeting To December 13
The leadership of Orluzurumee, the apex socio-cultural body of Orlu Zone, has announced a new date for its much-anticipated Expanded Leadership and Stakeholders Meeting.
In a statement by the group’s Publicity Secretary, Nnamdi Cos-Ukwuoma, the organization said the meeting, earlier scheduled was shifted due to fresh logistical arrangements aimed at ensuring wider participation and seamless coordination.
According to the statement, the meeting will now take place on Saturday, December 13, 2025, at the Mayor Eze Hall, Orlu Local Government Headquarters, by 11:00 a.m.
Orluzurumee, under the leadership of its President General, Rt. Hon. Ugochukwu Nzekwe, expressed regret over any inconvenience the postponement may have caused invited stakeholders, stressing that the adjustment was necessary to guarantee a more inclusive and productive engagement.
According to the statement, the meeting is being convened in collaboration with the Chairman of the Imo State Council of Traditional Rulers, Eze Dr. Emmanuel Okeke, and is expected to bring together traditional institutions, political leaders, community heads and other key actors from across Orlu Zone.
The organization described the gathering as a critical platform for fostering unity, peace and development across the zone, while reaffirming its commitment to the vision of “One Voice, One Destiny, One Orlu.”
Stakeholders and residents of the zone were urged to attend and participate actively in shaping the future direction of Orlu.
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