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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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BREAKING! Tinubu renames University of Maiduguri to Muhammadu Buhari University

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President Bola Ahmed Tinubu has renamed the University of Maiduguri as Muhammadu Buhari University.

This was disclosed in a terse statement by the presidential spokesperson, Bayo Onanuga, on Thursday.

“President Tinubu renames University of Maiduguri as MUHAMMADU Buhari University. President Tinubu announced the honour at the session of tributes of the Federal Executive Council to his late predecessor,” he wrote on X.

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Atiku’s exit end of PDP era – Support group

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A support group, Nigerian Youths for Atiku (NYFA), says the exit of former Vice-President Atiku Abubakar from the Peoples Democratic Party, PDP, marks the end of an era in the country.

NYFA’s Director General, Mr Dare Dada, who made this remark in a statement on Thursday in Lagos, said that Atiku’s decision to quit PDP had battered the political and electoral fortunes of the former ruling party.

Atiku, the PDP presidential candidate in 2019 and 2023, announced his resignation from the party on Wednesday, citing irreconcilable differences within the erstwhile ruling party.

Though the former vice-president has not formally announced his defection to African Democratic Congress (ADC), the coalition of opposition leaders, led by him, had recently announced the adoption of the party as its platform for the 2027 general elections.

His resignation from PDP might have signaled readiness to solidify ties with ADC, as the NYFA leadership had also recently directed its members nationwide to collapse structures and register with ADC in various states.

Reacting to the development, Dada said that the resignation of Abubakar and other PDP national leaders and members from the party, and their alliance with ADC marked the end of an era for the former ruling party.

According to him, Abubakar has large core followers in the northern and southern political circle, including the youth, women and professional groups.

The director-general, who noted that the former vice-president had, for a long time, remained the backbone of support in PDP, said that his exit had decimated and crippled the party.

In view of the developing political events in the country, Dada said that the group had instructed its more than 1.5 million members across the 36 states of the federation and the FCT to resign from PDP immediately.

“Membership of Nigerian Youth For Atiku cuts across all parties, including PDP, NNPP and LP.

“We also have within our ranks non-partisan members whose professions spread across all sectors of the economy. They have all been enjoined to register as members of ADC.

“As a movement with revolutionary yoga, we have always stood for good governance, accountability and support for sound democratic values.

“These attributes cannot be underestimated in any democratic society that tends prioritise transparency and economic prosperity,” he said.

According to him, the resignation of the group’s President and Founder, Prof. Gold Emmanuel, and others from PDP was a decision taken in the overall interest of the country.

“Preventing Nigeria from sliding into one-party state and civilian dictatorship requires the efforts and commitment of all Nigerians who have undiluted belief in a better Nigeria,” he stated.

Dada urged Nigerians to remain united in the fight against hunger, poverty and insecurity.

“We remain resolute in our decision to galvanise over three million votes in support of Alhaji Atiku Abubakar in the 2027 presidential elections,” he said.

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“ADC Not for Sale”: Imo ADC’s Chilos Godsent Calls for Unity and People’s Interest Over Self-Serving Groups

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The African Democratic Congress (ADC) in Imo State has issued a clarifying statement regarding its structure and leadership, emphasizing that the party’s recognized executives and ward structures are legitimate and acknowledged by the Independent National Electoral Commission (INEC).

The IMO ADC asserts that its executives and structures are recognized by INEC, and merger groups or coalitions cannot assume ownership of the party.

The party urges its members to focus on addressing the challenges that have plagued the nation, rather than pursuing self-interest or group superiority.
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The ADC calls on its members to work together to bring about positive change, emphasizing the need for policies that promote production and development, rather than consumption.
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The party’s leadership encourages members to “shake hands” and work towards a common goal, as symbolized by the party’s logo.

This statement  is a call to action for its members to prioritize the interests of the people and work towards creating a better future for all Nigerians.

Emphasizing  the importance of unity and people’s interests, the party aims to promote a more inclusive and effective approach to governance.

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