Let’s Translate Our Friendships Into Economic Gains For Citizens – President Tinubu

President Bola Tinubu, Thursday in Abuja, said the cordial relations enjoyed between Nigeria, Republic of France, People’s Republic of China, and Kingdom of Denmark over many years should translate into mutual economic benefits for citizens. He listed education, health and infrastructure as key sectors that require special focus for mutual benefit. The President made the remarks while hosting the diplomats at the Aso Rock State House while presenting their Letters of Credence. The ambassadors who presented their letters at a brief ceremony at the State House were Marc Fonbaustier of the French Republic; Ambassador of Kingdom of Denmark, Jens Ole Bach Hansen, and Ambassador of the People’s Republic of China, Yu Dunhai. President Tinubu, who is scheduled to pay a state visit to France, told the French Ambassador that his friendship with Emmanuel Macron, and the diplomatic ties between both countries, should be felt by citizens. He urged for French support for the ongoing reforms in the country, which seeks to strengthen institutions and improve livelihood of citizens. “Macron has been a good friend over many years, and I am looking forward to the State Visit in Paris to solidify our relationship, and ensure that our citizens also share in the gains of diplomacy between both countries, President Tinubu enthused. Adding, he said, “I am happy you are not a stranger in Africa from your background. Nigeria is the biggest country on the continent, and the headquarters of ECOWAS is based here. We have an open door policy, and we want your investors to take advantage of it. “Our collaboration is essential for Africa, ECOWAS and Nigeria. You can always get in touch through Ministry of Foreign Affairs, or the Chief of Staff to the President,’’ the President emphasized. In a press statement, Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy reported the French Ambassador as replying , “Mr. President, I must praise and express my admiration for your achievements. You have taken a bold step in developing the country, and I encourage you to stand, and do the right thing for Nigeria.’’ Mr. Onanuga stated that, “In a meeting with Chinese Ambassador, President Tinubu appreciated the President of the Republic of China, Xi Jinping, for hosting him during his State visit  to Beijing, and participation in  the Forum on China-Africa Cooperation (FOCAC). He  urged the envoy to work hard with the Ministry of Foreign Affairs to translate the agreements signed into reality.” To the Danish Ambassador, Mr. Onanuga reported the President as saying, “Your country is known for promotion of democratic values and human rights and we are ready to collaborate with you. We have seen your engagements in the energy sector in your country, and around the world, and we will like to benefit from that. “We are interested in education, Medicare and areas that directly impact the livelihood of our people. We have seen the progress of the APM terminal in Lagos, a company from the kingdom of Denmark. Nigeria is good for business, and we want to continue to promote that aspect.’’ In reply, the “Danish ambassador said his country has evolved a new strategy to improve relations with Africa, and Nigeria will play a central role in the implementation, considering its size and influence on the continent. “We recognize your influence globally and regionally, and we will continue to cooperate and expand relations with Nigeria, especially in areas of trade and economy,’’ the ambassador added.

EFCC Vs Yahaya Bello: Court adjourns to January 21 for ruling or arraignment

A Federal High Court in Abuja has adjourned hearing in the money laundering case brought against the immediate-past Governor of Kogi State, Yahaya Bello, by the Economic and Financial Crimes Commission, to January 21, 2025. At the resumed hearing on Wednesday, Counsel to the Economic and Financial Crimes Commission, Kemi Pinheiro, SAN, told Justuce Emeka Nwite that he had two witnesses already in court. He said his first application was to formally apply that the court should enter a plea of not guilty on behalf of the defendant, even in his absence. “My first application is to formally enter a plea of not guilty to the defendant, even in his absence. The second point is, not withstanding his physical absence, it is in full compliance with Section 276 of ACJA. Flowing from that entry my lord, it is a humble request that we call the first witness,” he stated. Pinheiro, in defending his application to enter a plea of not guilty for the defendant, said “the right to plead guilty or not guilty is a right that can be waved by the defendant. “My lord should hold that the defendant has waved that right. “What prejudice will the defendant suffer if my lord enters a plea of guilty or not guilty in his absence? Even if he was in court and pleaded not guilty, the situation will still be the same. The entry of plea of not guilty by your lordship is an invitation to the prosecution to come and prove the veracity of the allegations,” he added. Michael Adoyi, who appeared for the defendant, however kicked against this, saying that the Prosecution’s application was made contrary to a subsisting order of the judge. “Our first point of response to the application made by the learned senior counsel to the complainant is that the application is made contrary to the subsisting order of this honourable court, even made this morning – that no application can be entertained by this court in the absence of the arraignment of the defendant. “The prosecution has stated severally that the court cannot demonstrate helplessness. The court cannot demonstrate any helplessness in any proceeding and if at all helplessness exists in this proceeding, that helplessness is demonstrated by the prosecution,” he said. Adoyi argued that the court, in a criminal trial, is immune and distinct from the prosecution. Citing Supreme Court verdicts on similar matters, he said, “The application made by learned senior counsel for the complainant this morning is a dangerous invitation to this honourable court to aide the prosecution in the performance of its duty of presenting the defendant before the court for arraignment and subsequent trial.” He argued that civil proceeding was different from criminal proceeding.The Defendant’s Counsel noted that the prosecution’s application could not be anchored on any of the provisions of the ACJA, 2015 that he had cited, as “those provisions do not excuse the need for physical presence of the defendant.” “In view of this, we urge my lord to refuse the application made by the senior counsel to the complainant,” he said. The Prosecution Counsel, however, told the court to dismiss Adoyi’s arguments and go ahead with his ruling on entering a plea of not guilty for the Defendant. Justice Nwite, however, said it might not be possible to deliver the ruling this year. “It may not be possible to deliver this ruling this year. You know I am just coming as vacation judge. So what are we agreeing on now learned silk?” he asked. Pinheiro said the matter would be for ruling and/or arraignment of the defendant. The Judge thereafter adjourned to 21st January, 2025 for ruling on the application by the EFCC and/or arraignment. Recall that, at the last hearing on September 25, the Counsel to the defendant, A.M. Adoyi, had told the court that the issue of arraignment of the defendant was the subject matter of an appeal entered by the defendant at the Supreme Court with the Appeal Number: “SC/CR/847/2024 and SC/CR/848/2024”. He said the most appropriate thing to do was to await the decision of the Supreme Court in the aforesaid appeal before taking any step for arraignment so as not to pull the rug off the feet of the Supreme Court.

Tinubu Congratulates Shirley Botchwey, Incoming Commonwealth Sec-Gen

President Bola Tinubu has congratulated Honourable Shirley Ayorkor Botchwey, Ghana’s Minister for Foreign Affairs and Regional Integration, on her election as the incoming Secretary-General of the Commonwealth. On Friday, leaders of the 56 Commonwealth nations meeting in Apia, Samoa, elected Botchwey, a 61-year-old former lawmaker who has served as Ghana’s foreign minister for the last seven years, as the 7th Secretary-General. She is expected to assume office on April 1, 2025.Botchwey is the second African to be elected secretary-general of the Commonwealth in its 75-year history, after Chief Emeka Anyaoku of Nigeria, who served in that position from July 1, 1990, to March 31, 2000. She had the backing of Nigeria for the top commonwealth job. The Nigerian leader believes that Botchey’s extensive career in public administration, foreign affairs and regional development makes her a perfect fit for the job. He trusts that Botchey’s leadership experience will bring renewed energy to the Commonwealth’s efforts to advance meaningful economic and political partnerships that drive development and amplify the bloc’s voice in global affairs. President Tinubu said he looks forward to working with the incoming Secretary-General to advance the Commonwealth’s vision of fostering peace, equity and prosperity for all member nations. The President reaffirmed Nigeria’s commitment to championing a Commonwealth that prioritises strengthening intra-commonwealth trade, African exports, and a unified presence at the United Nations that supports an African bid for a permanent representation at the Security Council. The President thanked the outgoing Commonwealth Secretary-General, Baroness Patricia Scotland, for her years of leadership and wishes her the best in her future endeavours.

Shettima’s plane attack by ‘foreign object’: Shehu Sani calls for probe

Senator Shehu Sani has called on the Nigerian government to demand a full investigation from the U.S. authorities following an incident involving Vice President Kashim Shettima’s aircraft at John F. Kennedy (JFK) Airport in New York. According to a statement from presidential media aide Bayo Onanuga, the vice president’s plane was struck by a “foreign object” that damaged the cockpit window, forcing the cancellation of Shettima’s planned trip to the 2024 Commonwealth Heads of Government Summit in Samoa. Writing on social media, Sani stressed the need for transparency and accountability from the U.S., given JFK Airport’s status as a high-security aviation hub. He noted that such an event was unprecedented and highlighted the importance of investigating the circumstances thoroughly. Senator Sani also expressed gratitude for the safety of Shettima and all those on board. His words: “The incident at JFK Airport in New York, where a “foreign object” was reported to have hit and damaged the cockpit window of the VP Shettima’s plane, must be treated seriously. “Nigeria must demand a thorough investigation and explanation from the US. Such an incident in one of the most tightly secured aviation spots in the world is unprecedented. “We thank the Almighty for the life of the VP and other crew and staff.”

Tinubu asks senate to confirm seven ministerial nominees

President Bola Tinubu on Thursday sent a letter, demanding the Senate to confirm seven new ministerial nominees. This was contained in a letter from the executive and read by Senate President Godswill Akpabio on the floor of the upper legislative chamber. President Tinubu on Wednesday sacked at least five ministers and scrapped two ministries.The president also assigned new portfolios to some Ministers in the Wednesday cabinet shake-ups.

LG Autonomy: FG explains delayed implementation

The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, has declared that the federal government did not give state governments a moratorium in the implementation of the Supreme Court judgement on full financial autonomy of the local government areas. The AGF explained that there is a delay in the full implementation of the apex court verdict due to the measures being put in place by the federal government towards achieving a successful implementation. Fagbemi spoke on Monday while addressing newsmen after he was honoured with an honorary degree during the 12th convocation ceremony and 15th Founder’s Day Event of the Afe Babalola University Ado-Ekiti (ABUAD). According to him, there is no going back in the implementation of the judgement for the 774 local government areas to be given financial autonomy in order to ensure development at the grassroots level. He warned states not to commit contempt of court by disobeying the verdict of the Supreme Court, adding that the administration of President Bola Tinubu was determined to ensure all duly constituted and elected local government administrators received their allocations directly from the federation account. Fagbemi said, “Unfortunately, I know it has been in the media that they gave them (the governors) a three-month moratorium, which is not the position. The position is that yes, the judgement was delivered, but we felt that there is a need to put some things in place before the full implementation. That it is going to be implemented is sacrosanct; nobody can run away from it. ReplyForwardAdd reaction

Surge in price of cooking gas: FG bans export of LPG

The Federal Government has banned the export of Liquefied Petroleum Gas (LPG), also known as cooking gas, produced in Nigeria, as the price of the commodity continues to soar. The Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, expressed concern over the rising cost of LPG in a statement issued by his media aide. Despite efforts to stabilize prices, including the formation of a high-level committee in November 2023 led by the Authority Chief Executive of the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Farouk Ahmed, prices have spiked from an average of N1,100-N1,250 per kg to N1,525 per kg. The statement highlighted that Ekpo convened a meeting with key stakeholders in the LPG value chain to address the escalating prices and the hardship they impose on Nigerians. As part of the government’s efforts to curb the situation, the Minister announced the following directives: Short-Term Solution: Effective from November 1, 2024, the Nigerian National Petroleum Company Limited (NNPCL) and LPG producers are to halt the export of LPG produced in the country. If they continue exporting, they must import an equivalent volume at cost-reflective prices. Pricing Framework: The NMDPRA will engage stakeholders within 90 days to create a domestic LPG pricing framework. The new framework will be indexed to the cost of in-country production, replacing the current system of using external market prices from regions like the Americas and Far East Asia. Long-Term Solution: Over the next 12 months, the government plans to develop infrastructure for blending, storing, and distributing LPG, with the aim of halting exports until domestic supply is sufficient and prices stabilize. The Minister emphasized that these measures are aimed at improving availability, ensuring affordability, and protecting Nigerians from the economic strain caused by rising LPG prices. ReplyForwardAdd reaction

Tinubu resumes office after two-week vacation

President Bola Tinubu has resumed duties at the Aso Rock Presidential Villa, Abuja. Pictures released from the State House Monday showed the President at his desk receiving a briefing from the Chairman of the Federal Inland Revenue Service, Mr Zacch Adedeji. It read, “President Bola Tinubu at his desk this morning, after returning from a two-week vacation. Mr President received a briefing from Zaccheus Adedeji, Chairman, Federal Inland Revenue Service. Abuja, Monday, October 21, 2024.” Tinubu arrived in Abuja, on Saturday, after a two-week working vacation in the United Kingdom and France. The President departed Abuja on Wednesday, October 2, a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, revealed. Onanuga said, “President Bola Tinubu will depart Abuja today for the United Kingdom to begin a two-week vacation, part of his yearly leave.“ He will use the two weeks as a working vacation and a retreat to reflect on his administration’s economic reforms.“He will return to the country after the leave expires,” the statement said. On October 11, President Tinubu left the UK for Paris in France for “an important engagement,” his Senior Special Assistant on Political and Other Matters, Ibrahim Masari, disclosed in a tweet that Friday. He returns amid concerns over delays in the presentation of the 2025 appropriation bill.

Blaming the World Bank will not save our economy. Only us can

“Nigeria’s reform crisis is not about ideas, but about trust. Without it, even sound policies become liabilities.”

I stumbled on an article by one Mr. Ahmed Sule ( FCA). It is so disappointing to read. It is nothing but a regurgitation of the same well-worn World Bank blame game. There was not one single alternative policy prescription other than the usual finger pointing and externalization of our problem. Expectedly, Mr. Sule latched on the article in which the World Bank gave its analysis of the Tinubu reform, as the bogey-man. He did not even make an attempt to provide his own counter-point to the World Bank. He failed to provide his position on the Tinubu economic agenda other than a listing of the pains it has inflicted on the populace. The president in his inaugural address stated clearly that his proposed economic reform agenda was going to be excruciatingly painful. He stated unequivocally that he was going to remove fuel subsidy and that he was going to float the currency. He did not trick the electorate. He also told the citizens to render their judgement on the performance of his reform policy with their votes in 2027. Mr. Sule in his social media post pretended as if our economic nightmare began with or was precipitated by the Tinubu regime. He had nothing to say about our profligate and obscene economic mismanagement dating back to the mid 1970s-early 80s during which we frittered away our oil windfall like drunken sailors on a pirate ship. World Bank bashing has been our default excuse for our collective failure since the 1986 IMF SAP debacle. We focused on SAP rather than its predicate. We never asked ourselves the hard question about what we did wrong with all the stupendous oil windfall that accrued to our country, and why we ended ended up prostrate in 1986 crawling on our belly to the World Bank and IMF for a bail out. “Have we forgotten the commonwealth fund that was proposed by Sister Ngozi Okonjo Eweala during the President Jonathan regime to put away our excess oil revenue for the rainy day but rejected by the governors, or the hubris of young General Gowon who in the 70s declared that our country’s problem was not lack of money but how to spend it? Now we all have to endure the lean years we didn’t make provision for, in order for us to survive and be here when hopefully the years of abundance come back again.“ The World Bank does not force itself on any country. Countries choose membership of the World Bank out of their free will. They usually approach the World Bank for low interest loan when they are totally out of luck and option, unable to access finance through the open financial market because they have mismanaged their credit worthiness. That was the position Nigeria found itself in 1986. Even after General Obasanjo was able to get a big chunk of our debt written off by the World Bank and other multilateral financial institutions we were indebted to, did we take advantage of that? No, we didn’t. Our politicians continued unabatedly to plunder our commonwealth and they still do. The Bible says the debtor is a slave to his creditor. So, when countries like Nigeria have run out of options and are forced by their desolate and desperate circumstances to crawl on their bellies for financial life wire, of course like the slave described in the Bible to their creditors, they are forced to go on a forced diet (conditionalities) in order to access the low interest loan and sometimes outright grants that the World Bank offers due to the “generosity” of the donor members. We need to know that donors do not donate their fund to the poor out of philanthropy and benevolence. Foreign aids are a tool of promoting national hegemonic advantage. There are no free lunches in international relations. U. S and Europe are not funding the Ukraine war necessarily because of their love for the Ukrainians. They are dropping billions of ammunition and weapons of death into Ukraine to fight Russia because it advances their geopolitical agenda against Russia. It also creates opportunity for the military industrial complex to dispose their unused weapons, to test new one and create jobs in their local economies. We will be wise to understand that our economic success lies with us doing the hard work of national building and advancing our economic interest in an amoral, survival of the fittest, rigged global economic system. We should never again put our country in the position in which external financial institutions dictate or have a veto on our economic policies. China can tell the World Bank to go to hell with its economic prescriptions. In fact China has created its own alternative to the World Bank. As we romance China, we would be wise to learn that China like the West before it is not a benevolent Father Christmas doling out free money for its Silk Road project. “The capital asset of the “World Bank” is minuscule compared to those of global behemoths like the JP Morgan Chase, the China Bank of Industry, or the Bank of America. The world number one bank, China Industrial and Commercial Bank has total assets of $6.3 trillion. By comparison, the World Bank had just about $200 billion of assets under management. The World Bank would not rank among the top 50 banks in the world. In fact, there is a debate whether the term bank can truly be applied to the World Bank.“ The phrase “ World Bank” is in fact a gross abuse, misuse and exaggeration of the financial muscle of the “ World Bank”. When the phrase World Bank was used at its founding it represented an extreme case of hubris. The capital asset of the “World Bank” is minuscule compared to those of global behemoths like the JP Morgan Chase, the China Bank of Industry, or the Bank of America. The world number one bank, China Industrial and Commercial Bank has total assets

Tinubu arrives Nigeria after two weeks Overseas leave

President Bola Tinubu has returned to the country after weeks of annual leave in London, United Kingdom and Paris, France. Presidential aide Dada Olusegun wrote on his X (Twitter) account on Saturday: “Welcome home Mr President. “The eagle has landed.” Tinubu arrived at the Nnamdi Azikiwe International Airport, Abuja, this (Saturday) evening after his working leave. Daily Trust reports that the President was received on arrival, among others, by the Lagos State Governor, Babajide Sanwo-Olu; Chief of Staff to the President, Femi Gbajabiamila; Ministers, including Wale Edun (Finance), Abubakar Atiku Bagudu (Budget and Economic Planning), Nuhu Ribadu (National Security Adviser), and Abdullahi Ganduhe (National Chairman of the ruling All Progressives Congress (APC). Although the presidency announced that Tinubu’s overseas trip would last for two weeks, checks by Daily Trust showed that he spent extra days. On the day Tinubu was supposed to return, Vice-President Kashim Shettima proceeded on a 2-day trip to Sweden. The Presidency however, insisted that there was no vacancy in leadershop.