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Tinubu’s economic reforms are yielding fruits- Minister of Information, Mohammed Idris, says

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The Federal Government says the economic reforms of President Tinubu are yielding results. In a statement released on Friday February 23, the Minister of Information and National Orientation, Mohammed Idris, said reforms such as the removal of fuel subsidy as well as the unification of the foreign exchange rate are yielding results.

 

He pointed out that the removal of fuel subsidy has led to the drop of petrol importation by fifty percent. He also mentioned that following the removal of fuel subsidy, monthly receipts by States from the Federal Accounts Allocation Committee (FAAC) have surged, giving governments at all levels billions of Naira in extra headroom to deliver the dividends of democracy to Nigerians.

 

‘’It is heartwarming to note that we are starting to see the results. Indeed, the naira is stabilizing, and the foreign exchange market is seeing a surge of inflows. The latest NBS figures show that capital importation into Nigeria rose by over 66 percent in Q4 2023, compared with the preceding quarter. The CBN Governor has also highlighted the fact that $1.8 billion flowed into the forex market last week, on the back of the new reforms.”

Idris pointed out that sadly, as with any effort to reform and sanitise a system entrenched in long-term malpractice, the CBN’s efforts have been met with ferocious resistance from speculators and other unscrupulous players within and outside the country, who profit from dysfunction and opacity.

‘’To tackle this, regulatory and enforcement agencies of government have been working round the clock in the past few days, joining forces to address these efforts at undermining the reforms. That strategic alliance has led to the intelligence-led identification, investigation and sanctioning of individuals and organizations involved in illegal activities and sabotage within the forex market.

Relevant regulatory and security agencies have been directed to remain vigilant to ensure that malpractices capable of undermining our currency are averted and that those engaged in these acts are brought to book. The government will not allow its efforts to be jeopardised. The emerging stability of the naira is in the interest of all Nigerians.” he said

Idris added that Nigerians should be rest assured that the government will continue to take further steps to stabilize the naira and safeguard our economy.

‘’We will continue to seek the patience and understanding of Nigerians as we push through these difficult times, into a season of abundant benefits and truly renewed Hope. As the President never fails to emphasize, these headwinds we are facing are only temporary, and, collectively, we will surely overcome. The President and his team are and will remain resolutely committed and focused on the task of bringing immediate relief and enduring prosperity to all Nigerians.” he said

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President Tinubu Commends Nigeria’s Armed Forces for Protecting Democracy in Benin Republic

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President Bola Ahmed Tinubu has commended the gallantry of Nigeria’s military on Sunday for responding swiftly to the request by the Government of Benin Republic to save its 35-year-old democracy from coup plotters who struck at dawn today.

Acting on two separate requests from the Government of Benin, President Tinubu first ordered Nigerian Air Force fighter jets to enter the country and take over the airspace to help dislodge the coup plotters from the National TV and a military camp where they had regrouped.

The Republic of Benin, through its Ministry of Foreign Affairs, in a Note Verbal, requested immediate Nigerian air support “in view of the urgency and seriousness of the situation and to safeguard the constitutional order, protect national institutions and ensure the security of the population.”

In the second request, the authorities in Benin requested the deployment of Nigerian Air Force assets within Beninoise airspace for surveillance and rapid intervention operations under Benin-led coordination.

The Benin government also requested Nigerian ground forces, “strictly for missions approved by the Beninese Command authority in support of the protection of constitutional institutions and the containment of armed Groups.”

Nigeria’s Chief of Defence Staff, General Olufemi Oluyede, said all the requests have been fulfilled, with Nigerian ground forces now in Benin.

“Ours is to comply with the order of the Commander-in-Chief of our armed forces, President Tinubu,” he said.

Constitutional order was upended in the Republic of Benin, Nigeria’s neighbour, when some soldiers led by Colonel Pascal Tigri announced a coup on Sunday morning. The putschists seized the National TV and claimed they had toppled President Patrice Talon and suspended all democratic institutions.

It took some hours before the government’s loyal forces, assisted by Nigeria, took control and flushed out the coup plotters from the National TV.

In his remarks after the restoration of the democratic and constitutional order, President Tinubu saluted the Nigerian armed forces for standing firm as a protector and defender of democracy.

“Today, the Nigerian armed forces stood gallantly as a defender and protector of constitutional order in the Republic of Benin on the invitation of the government. Our armed forces acted within the ambit of the ECOWAS Protocol on Democracy and Good Governance. They have helped stabilise a neighbouring country and have made us proud of their commitment to sustaining our democratic values and ideals since 1999. Nigeria stands firmly with the government and people of the Republic of Benin.”

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PDP Holds BoT Meeting, Vows To Restore Confidence, Hold Congress In States

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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.

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BREAKING: Talon safe as loyalist forces regain control after brief coup scare

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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.

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