Tag: Ahmed Tinubu

• Shares N50m to 1000 petty traders in Rivers

In her efforts to support the growth of small businesses in Rivers State, the wife of the President, Senator Oluremi Tinubu, has provided financial support to 37,000 women- petty traders in 36 states across the country and the Federal Capital Territory (FCT), Abuja.

About 1,000 petty traders from the 23 local government areas of Rivers State got their shares of N50million through Mrs. Tinubu’s Renewed Hope Initiative (RHI).

Wife of the Rivers State Governor, Lady Valerie Fubara, who is also the coordinator of the RHI in the state, presented the cheques to the 1,000 beneficiaries, who received ₦50,000 each at the Banquet Hall of Government House in Port Harcourt yesterday.

The programme tagged, RHI’s Economic Empowerment Programme Recapitalization Grants for 1,000 Women Petty Traders in Rivers State, was designed to drive economic growth and enhance the livelihoods of petty traders.

Delivering the message of Mrs. Tinubu at the event, Lady Fubara said the grants should assist women-petty traders in overcoming some of their business challenges, expand their businesses, create more jobs, and contribute more robustly to the economy of the state.

Mrs. Tinubu said: “This event is taking place across the 36 states of the Federation and the Federal Capital Territory. We are all aware of the challenges faced by Small and Medium Enterprises (SMEs), especially the petty traders, who form the backbone of our local economies.

“These challenges, however, have not deterred the strength of our women. I salute you all and celebrate your courage and resilience that keep you going, to put food on the table for your families.

“Today, through the Renewed Hope Initiative Economic Empowerment Programme, we are providing 1,000 pre-selected women petty traders in each state with a grant of N50,000 each to recapitalize and grow their businesses.

A total of N1.850bn will be disbursed to 37,000 women petty traders across the nation”.

Mrs. Tinubu insisted that economic empowerment remained a core objective of the Renewed Hope Initiative.

She reiterated the commitment of RHI to consistently deliver on the promise of empowerment to women and youth across the six geopolitical zones of the country as support to the economic reforms initiated by the administration of President Bola Ahmed Tinubu.

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She said: “We recognise that empowering women economically is not just a moral imperative but a strategic one. When women thrive, their families thrive, and by extension, our communities and nation prosper.

“To the 1,000 women petty traders who are the beneficiaries of this programme, I say, ‘You are the heart of our local economies, the foundation of our communities, and the unsung heroes of our nation’.

“You have shown incredible resilience in overcoming countless challenges to build your businesses. Today, we celebrate your hard work and determination.”

Speaking as the State Coordinator of RHI, Lady Fubara, recalled that in the last couple of months, Senator Tinubu had through the RHI supported the elderly; provided 50,000 exercise books for school children, supported women in agriculture and offered many categories of scholarships to students in Rivers.

Lady Fubara said such efforts were part of the long-term plan to boost the local economies and enhance the capacities of families to cope with their challenges.

She said: “In Rivers State, care has been taken to ensure that beneficiaries are drawn from the rural areas, and that they are the people who are really in need.

“Our officials have been directed to monitor the process and to ensure that the process is not hijacked by the privileged ones.

“It is believed that as you receive these supports, they will be ploughed into your already existing petty businesses. The Women Petty Traders Empowerment Scheme is, therefore, designed to assist those whose business capitals have been greatly depleted by inflation and are seeking for grants to jerk them back to life.”

President Bola Tinubu has urged Nigerian Muslims to emulate the virtues of purity, selflessness, perseverance, kindness, and compassion exemplified by Prophet Muhammad as they mark Eid Maulud, the birthday of the Holy Prophet.

The President’s admonition comes as Muslims commemorate the life and teachings of Prophet Muhammad, emphasizing the importance of reflecting on his exemplary conduct and noble teachings.

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In a statement issued on Sunday, September 15, by his special adviser on information and strategy, Bayo Onanuga, President Tinubu congratulated Nigerian Muslims on the occasion, encouraging them to use the period for deep reflection and remembrance of the Prophet’s life.

He also called on the Muslim faithful to dedicate the Maulud holiday to pray for the country and show empathy and compassion towards one another.

“As we mark the Maulud, we should all reflect on the life lived by Prophet Muhammad, exemplified by purity, selflessness, perseverance, kindness, and compassion. We must endeavour to imbibe those virtues,” he said.

President Bola Tinubu has directed emergency response agencies to collaborate with the Zamfara state government to provide immediate relief to victims of the devastating floods in the Gummi local government area and the tragic boat accident that claimed over 40 lives.

According to a statement issued by his special adviser on information and strategy, Bayo Onanuga, the president’s directive also includes a comprehensive assessment of the incidents to identify the root causes and prevent future occurrences.

President Tinubu, however, extended his condolences to the people and government of Zamfara State, promising support for the victims.

The boat accident occurred when farmers were travelling to their farms, and the floods caused widespread destruction in Gummi local government area.

“President Bola Tinubu has commiserated with the people and Government of Zamfara State over recent floods in Gummi Local Government Area and the death of over 40 farmers in a boat accident on their way to their farms at the weekend.

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“President Tinubu expressed the government and the people of Nigeria’s commiseration over the twin tragedies in the Zamfara community. He promised support for the victims.

“The President directed emergency agencies to comprehensively assess the two incidents to address the root of the calamity.

“President Tinubu also directed response agencies to work with the Zamfara State Government to help those affected by the disaster”, the statement said.

A former president of the Institute of Chartered Accountants of Nigeria (ICAN), Chief Simeon Olusola Oguntimehin, has appealed to President Bola Tinubu to prioritise power generation and tackle insecurity to curb unemployment in the country.

Oguntimehin, who is the Lisa of the Ondo kingdom, said adequate power supply and security of lives were critical issues that required urgent government attention.

The nonagenarian spoke in Ondo town during a grand reception held in celebration of his 90th birthday and the 10th anniversary of his installation as the Lisa of Ondo Kingdom.

He said: “Once these two critical issues are addressed, Nigeria will become a better place for people to live in.

“The government should address two main issues: security and power. If there is security, people can go about their jobs.

“If there is stable electricity, people will be able to use it for their businesses. If those two things are in place, Nigeria will continue to move forward.”

He urged all Nigerians to work together to curb unnecessary discord even as he pledged his commitment to the development of the Ondo Kingdom.

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Governor Lucky Aiyedatiwa who was represented at the event by his Commissioner for Information and Orientation, Wale Akinlosotu, said his administration would continue to prioritize the welfare of Ondo citizens.

Aiyedatiwa said his administration has distributed fertilizers to farmers to boost food production as well as empower artisans in the state.

The lawmaker representing Ondo East and Ondo West Federal Constituency in the House of Representatives, Hon Abiola Makinde, said the former ICAN president has helped to sustain the culture and tradition of the kingdom.

Hon Makinde said the celebration of Ogun and other festivals under Chief Oguntimehin were widely acclaimed as top-notch.

Nigerians from various fields paid tributes to the prime minister of Ondo Kingdom.

Among those that attended the ceremony were Afenifere leader, Pa Reuben Fasoranti, the Osemawe of Ondo Kingdom, Oba Victor Kiladejo, Senator Adeniyi Adegbonmire, representing Ondo Central, former Vice-Chancellor of Adekunle Ajasin University, Akungba Akoko, Prof. Femi Mimiko among others.

President Bola Ahmed Tinubu has urged the newly appointed Brazilian Ambassador to Nigeria, Carlos Jose Areias, to prioritse the establishment of direct flights between Nigeria and Brazil.

Receiving the Letter of Credence from the Brazilian Ambassador, President Tinubu reiterated his discussions with President Luiz Inácio Lula da Silva of Brazil on the matter, in February, on the margins of the African Union Summit, in Addis Ababa, Ethiopia.

According to a statement by his Special Adviser on Media and Publicity, Ajuri Ngelale, the President expressed Nigeria’s commitment to working closely with Brazil to strengthen bilateral relations and advance shared priorities, welcoming the country’s presidency of the G20 in 2024.

”We have a long history of bilateral and cultural relations with Brazil. You must see Nigeria as your second home and explore the abundant economic opportunities in the country.

”I have been talking to some of my Brazilian friends concerning the prospects of investing in dairy farming in Nigeria. We are eager to push these investments forward.

”In my recent discussions with President Lula, we agreed to energize the economic development of our two countries, and I look forward to continuing that collaboration,” the President said.

Ambassador Areias said President Lula was looking forward to welcoming President Tinubu to the G20 Leaders’ Summit scheduled for November 18 and 19, 2024, in Rio de Janeiro.

He also conveyed President Lula’s invitation to Nigeria to join the Global Alliance against Hunger and Poverty.

He explained that the initiative, based on the value of food security, is the main proposal of the Brazilian presidency at the G20 to eliminate extreme poverty by 2030.

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”I am in a country similar to Brazil, and I feel very much at home here with the culture, music, and people of Nigeria.

”I will do whatever I can to improve Brazil-Nigeria relations. Ten years ago, the volume of trade between our two countries was in the region of $10 billion, and I will work hard to improve on the number.

”Africa is top priority for President Lula and Nigeria is the most important country for us,” the Brazilian Ambassador said.

President Tinubu also received the Letter of Credence from Ghana’s High Commissioner to Nigeria, Vice-Admiral Seth Amoama (Rtd).

President Tinubu commended Ghana’s active participation in ECOWAS and reaffirmed Nigeria’s commitment to strengthening relations with its West African ally.

”You must feel at home in Nigeria. Our doors are always open and I wish you a pleasant stay in the country,” the President told the High Commissioner and former Chief of the Defence Staff (CDS) of Ghana, who is an alumnus of the University of Ibadan and fellow of the National Defence College, Abuja.

High Commissioner Amoama expressed Ghana’s steadfast support to Nigeria’s leadership of ECOWAS Authority of Heads of State and Government.

”We will continue to support the able leadership of President Tinubu in every way possible,” the Ghanaian High Commissioner said.

President Bola Ahmed Tinubu has called on African countries to improve the quality of life across the continent by ensuring that democracy, good governance, and robust economic institutions work together.

Speaking at the 2024 African Caucus Meeting in Abuja, President Tinubu who was represented by Vice President Kashim Shettima emphasised the importance of self-reliance in development efforts.

 “We must also acknowledge the need to take responsibility for our own development by undertaking the difficult structural and fiscal reforms required to boost long-term growth and enable reinvestment into our economies through infrastructure and effective social spending,” he stated.

 President Tinubu who addressed the delegation of African Central Bank Governors, noted Nigeria’s bold economic policies designed to overcome the downturns caused by multiple global economic shocks. “My administration is currently undertaking bold economic policies to propel Nigeria’s economy out of the downturns occasioned by multiple shocks in the global economy,” he said.

 He called for increased global cooperation among African nations to address shared economic challenges and leverage opportunities. Despite Africa’s numerous economic, humanitarian, and social challenges, President Tinubu urged countries to translate their natural resources and human capital into growth, innovation, and collaboration.

The African Caucus Meeting, chaired by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, provides a platform for African Governors to strengthen their voice in the Bretton Woods Institutions (BWIs). Established in 1963, the Caucus meets twice annually, first in the host country of the chairperson of the Caucus and later at the venue of the Annual Meetings of the IMF and World Bank Group (WBG).

This year’s theme, “Facilitating Intra-African Trade: Catalyst for Sustainable Economic Growth in Africa,” underscores the collective commitment of member countries to drive economic progress.

 President Tinubu, in his address titled “A Shared Vision for Africa’s Growth,” outlined Nigeria’s ongoing efforts to address global economic challenges through strategic reforms aimed at fostering fiscal and monetary efficiency, driving sustained economic growth, and creating jobs aligned with the Sustainable Development Goals (SDGs).

“We remain committed to optimizing our economic potential, delivering favorable outcomes for our citizens, and ensuring the overall sustainable development of the regional economy,” President Tinubu said. He also highlighted the need for enhanced international tax cooperation to combat illicit financial flows and ensure multinationals contribute fairly to African economies.

 “We need enhanced international tax cooperation to combat illicit financial flows and ensure that multinationals contribute fairly to our economies. We must also foster global economic cooperation to tackle shared challenges and leverage opportunities,” he added.

In his welcome address, the host and Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, noted that 41 African countries are projected to experience stronger growth, up to 3.8 percent from 3.4 percent in 2022, rising to 4.3 percent in 2025, exceeding the global average of about 3.2 percent.

 He added that Africa’s demographics present tremendous potentials that should be explored.

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 He stated that the African Caucus meeting will focus on strengthening the pan African payment system digitalisation, revenue mobilisation and more with a focus on charting a common way for the continent. Edun said the resolutions from the meeting would be communicated to the heads of IMF and World Bank ahead of the October annual spring meetings.

 Central Bank of Nigeria Governor, Mr. Olayemi Cardoso, emphasised the significance of leveraging global partnerships to navigate Africa’s complex economic landscape. “Africa stands at a crossroads with unprecedented opportunities for development alongside significant challenges. To navigate this complex landscape and set the continent on the path of sustainable economic growth, we must leverage the support of our global partners,” he added.

African Union Commissioner for Economic Development, Trade, Tourism, Industry, and Minerals, Ambassador Albert Muchanga, emphasised the importance of domestic resource mobilization. “We must see the African market as a viable channel for domestic resource mobilisation to address the issue of the continent’s sustenance,” he noted.

Speaking virtually, WTO Director-General, Dr. Ngozi Okonjo-Iweala, provided a comprehensive analysis of Africa’s economic situation and potential, emphasising the need for greater regional integration. “According to UN data for 2021, only 13 percent of Africa’s goods trade was internal, compared to 21 percent for Southeast Asia, 39 percent for the US, Mexico, and Canada, and 60 percent for Europe,” she said.

Deputy Secretary-General of the United Nations, Amina J. Mohammed, underscored the importance of trade facilitation, a Pan-African payment and settlement system, and increased access to energy and connectivity. She highlighted the significant challenge of public investment, with 48% of government revenue in sub-Saharan Africa going to debt payments last year.

 Rwanda’s Prime Minister, Dr Edouard Ngirente, called for concrete actions to remove trade barriers and create an integrated African market.

 Lord Paul Boateng, a member of the UK House of Lords and keynote speaker at the event, expressed concern over Africa’s decline in diversification and competitiveness over the past 20 years. He emphasized the need for African countries to adopt technological innovations such as blockchain and artificial intelligence to transform trade on the continent.

The Arewa Consultative Forum (ACF), the socio-cultural organisation of the 19 Northern States, has hailed President Bola Ahmed Tinubu for signing the North West Development Commission (NWDC) Bill into law.

President Tinubu had on Tuesday assented to the Bill sponsored by the Deputy President of the Senate, Senator Barau Jibrin, to accelerate development in the North West geopolitical zone, comprising Kaduna, Kano, Katsina, Kebbi, Jigawa, Sokoto and Zamfara states.

The North-West Development Commission is set up to facilitate the reconstruction of roads, houses, and business premises destroyed by multidimensional crises and tackle poverty, literacy level, ecological problems, and any other related environmental or development challenges in North-West states.

In a statement by its National Publicity Secretary, Professor T. A. Muhammad-Baba, ACF said the establishment of the commission would address the challenges facing the geopolitical zone.

“ACF extends warm appreciation and gratitude to the President and Commander-In-Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu, for signing the bill into law. The Deputy President of the 10th Senate, Senator Barau Jibrin – the sponsor of the bill and all who contributed to enacting the law also deserve our gratitude.

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“It is no exaggeration to say that the seven states comprising this region,  Kebbi, Jigawa, Kaduna, Kano, Katsina, Sokoto and Zamfara, have been developmentally challenged.

“With an estimated total population of 49 million (or 28% of Nigeria’s total), 45.5 million  (93%) remain in a state of multidimensional poverty, with an intensity ratio of 42.7%, as of 2022, according to the National Bureau of Statistics. Thus, the Northwest remains at the bottom of all Nigeria’s developmental indices and living conditions.

“The region that continues to be devastated by insecurity, banditry and associated challenges, and indeed forming the ground zero of insecurity and terrorism, remains to be said that all hands must be on deck to ensure that the new law will utilise the resources allocated to the Commission to make a visible impact on the lives of the people.

“All hands must be on deck to see to it that the teeming and largely agrarian people of this area will have the dark clouds of underdevelopment removed from their environment in its totality. Once again, thanks, Mr. President, and all who ensured this law sees the light of day.  God bless the Federal Republic of Nigeria,” ACF stated.