Politics
Tinubu’s economic reforms are yielding fruits- Minister of Information, Mohammed Idris, says
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
Martin Amaewhule, Speaker of the Rivers State House of Assembly, has defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC).
Tori News reports Amaewhule defected along with 15 other members of the House on Friday.
Amaewhule said the defection is due to clear division in the PDP.
Recall that President Bola Tinubu declared a state of emergency in the state earlier this year in March, suspending the Governor, Sim Fubara and his Deputy alongside members of the State Assembly.
A chieftain of the Peoples Democratic Party, PDP, Bode George, has intensified his call for the establishment of state police to contain the wave of insecurity in Nigeria.
George made this call on Friday when he appeared during an interview on Arise Television monitored by Ekwutosblog.
He was reacting to the worsening insecurity situation in the country where innocent Nigerians, including women and schoolchildren are kidnapped and others killed in the process.
“First of all, what is wrong with establishing state police? We have seen nobody is going to cancel the Federal Police, but policing is local.
“When you now turn the boys who live in the same area and legalize their existence to put smiles on the faces of the people, it will be better to manage because they will understand the language of the locals. They know the do’s and don’ts in their own area. So why are we wasting time?
“I am happy I read something last week after the Arewa Consultative meeting in the North. They met and took a decision that they have agreed to a state police.
“Then the Southwest met with their governors, and the governors’ statement made after that conference is that they also accept having state police.
“What are we wasting time for? Because the way it is, you don’t even know who is telling the truth or who is telling the lie,” he said.
Minister of the Federal Capital Territory, FCT, Nyesom Wike, on Friday declared that he’s still a member of the Peoples Democratic Party, PDP.
Wike’s comment followed his expulsion from the party by the faction led by National Chairman, Kabiru Turaki.
Turaki had formally dispatched expulsion certificates to 11 prominent party chieftains, including Wike, former Ekiti State governor, Ayodele Fayose, Senator Samuel Anyanwu, Umaru Bature, Kamarudeen Ajibade, SAN, Abdurahman Muhammad Senator Mao Ohuabunwa.
He said their expulsion was aimed at sanitising the party ahead of the 2027 elections.
Reacting to the development on Friday, Wike dismissed the claim while assuring that he would continue to work with other party members in making PDP a relevant opposition party.
The minister spoke while addressing journalists after inspecting the Interchange bridge and road linking Gwarinpa with Jahi and direct to Katampe, Gishiri and Maitama.
He said, “Those that are factionalized are bound to leave the party, I’m still in PDP and you can see that not everybody has left.
“We still have good numbers and we will continue to work together and that’s what I have said to the party. Put your house in order because at the end of the day, if you don’t put your house in order, it’s the party that is losing.
“So those who are worried, we can work together to see how the party can remain a relevant opposition.”
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