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Tag: President Tinubu

  • Opportunity has no mother tongue: How President Tinubu’s NELFUND provides equal access

    Opportunity has no mother tongue: How President Tinubu’s NELFUND provides equal access

    By Dare Ojepe

    In a country where identity often arrives before ability, it is no small thing when a public policy chooses to listen differently. Nigeria, with its many tongues and temperaments, has long struggled with the burden of translation of names into networks, of accents into access, of origins into opportunity. Too often, the gates of progress have opened not to merit but to familiarity. Yet, quietly and without fanfare, the Nigerian Education Loan Fund (NELFUND) is attempting something both simple and radical: it refuses to ask which village you come from before asking what future you seek.

    This is not a poetic exaggeration. It is a structural statement. For decades, the Nigerian youth has learned sometimes painfully that education support often comes with invisible footnotes. Who you know matters. Where you are from matters. How well you can navigate informal corridors matters. In this landscape, talent without connection becomes stranded, ambition without exposure becomes muted, and potential waits endlessly for interpretation. NELFUND enters this fraught terrain not as a miracle worker but as a system designed to remove unnecessary filters between effort and opportunity.

    The most striking thing about NELFUND is not the money; it is the method. It does not speak Hausa, Yoruba, Igbo, or any of our proud dialects. It speaks something rarer in our public life: equal access. The application process does not pause to admire surnames or interrogate ethnic origin. It does not ask who sent you or who can vouch for you behind closed doors. It asks one central, democratic question: are you a Nigerian youth seeking education and willing to take responsibility for your future?

    That question alone is a quiet revolution.

    In a nation where public intervention is often confused with charity, NELFUND insists on dignity. This is not a handout dressed in benevolence; it is a loan anchored in trust. It assumes that young Nigerians, when given a fair starting point, will rise not as dependents but as partners in national development. It replaces the politics of pity with the economics of possibility. And in doing so, it subtly reshapes the psychology of education, from entitlement to investment.

    Critics, of course, will ask whether equal opportunity truly exists in a deeply unequal society. It is a fair question. Equal opportunity does not mean equal outcome, and NELFUND makes no such promise. What it offers instead is something more honest: the same starting gate. It does not guarantee arrival; it clears the road. The race remains demanding, but at least the rules are visible, and the whistle is blown for all at the same time.

    There is also something profoundly national about the design. A student in Jalingo fills the same form as one in Surulere. A young woman in Aba submits the same details as a young man in Ogbomosho. No middlemen hover. No informal toll gates appear. The digital window does not recognise accents or skin tone; it responds only to data. In a country accustomed to whispered processes and selective hearing, this plainness feels almost radical.

    Yet, the deeper significance of NELFUND lies beyond administration. It sends a message, subtle but firm; that belonging is not conditional. That you do not need to sound like power to access support. That your background is not a disqualification. In a polity where identity has often been weaponised, this policy offers a counter-narrative: you are Nigerian enough to be considered, full stop.

    This matters for the youth, not just materially but psychologically. When systems are perceived as fair, effort increases. When rules are clear, cynicism weakens. When access is not mediated by tribe or proximity to influence, ambition begins to look inward rather than sideways. The question shifts from “who can help me?” to “how can I prepare myself?” That shift, multiplied across millions, is how nations quietly change course.

    Of course, no policy should be shielded from scrutiny. Transparency must remain non-negotiable. Loan recovery mechanisms must be humane but firm. Financial literacy must accompany access, lest opportunity becomes burden. NELFUND must continually prove that its promise of neutrality is not just aspirational but operational. Vigilance, not applause, is the civic duty of citizens.

    Still, it is important to acknowledge progress when it appears, especially in modest clothing. In a country of many languages, it is refreshing to encounter a policy that speaks fairness fluently. NELFUND may not solve all the structural problems of Nigerian education, but it addresses a foundational one: the exclusion that begins before learning even starts.

    When support no dey ask which village you been come from, hope becomes less complicated. And sometimes, that is exactly where national renewal begins.

    – Ojepe is the Senior Special Assistant to the President on Youth Engagement

  • Insecurity: President Tinubu recalibrates

    Insecurity: President Tinubu recalibrates

    The declaration forms part of the Tinubu administration’s broader effort to overhaul Nigeria’s security and criminal justice systems amid persistent challenges posed by banditry, insurgency, kidnapping and organised violent crime across several regions of the country”.

    Since he assumed power over two years ago, President Bola Ahmed Tinubu’s security strategy has involved a multi-pronged approach, including kinetic pressure through modernised military capability

    and intelligence-driven operations, as well as the much criticised

    non-kinetic measures like restoring governance in underserved communities, counter-radicalization programs, and economic stabilization initiatives.

    The administration has also emphasised inter-agency cooperation, technology-driven intelligence gathering, and community engagement.

    Unfortunately, these have not stemmed insecurity which some lazy Northern governors

    inflicted on Nigeria when, rather than provide education, good health care delivery and proper governance for their people a decade and half ago, hid under the Sharia, flee their state capitals and went to  live, mostly a lecherous life at Abuja, consuming both women and alcohol.

    READ ALSO: No place for terrorists, kidnappers in Kwara, says Abdulrazaq as forest guards end training

    Insecurity was further worsened in the country during President Muhammadu Buhari’s laizerfaire eight years when his seeming love affair with all manner of Islamic terrorist groups was so fervent Boko Haram could proudly nominate him as their representative in an interface with the Goodluck Jonathan government.

    Now Tinubu says no more.

    The President has  vowed to classify violence by armed groups as terrorism, allocating $3.7 billion to defence and security. The 2026 budget prioritizes security, with a N5.41 trillion allocation for defence and security.

    Tinubu’s approach to security is centered around discipline, enforcement, and accountability.

    He has abandoned euphemism, declaring that any armed group operating outside state authority will be regarded as terrorists.

    This doctrinal reset removes political, ethnic, or semantic cover from violent non-state actors, signaling to security agencies that ambiguity will no longer be an operational excuse.

    Details of the new order also include the following.

     Recruitment:

    50,000 new personnel to be recruited by the Police, with a 20,000 additional to the Army;

    Forest Guards Deployment:

    Trained guards to be deployed to flush out terrorists and bandits from all forests;

    State Policing: National Assembly to review laws to enable states to establish their own police force;

    Military Modernization: Procurement of advanced weaponry, surveillance systems, and force multipliers

    Community Engagement: Initiatives  to resolve herder-farmer conflicts and promote social investment.

    Not surprisingly, all manner of Northern characters , probably including terror financiers, have risen in opposition to this brave determination by the President.

    This is why I continue to commend the President for removing fuel subsidy, quite unexpectedly, on day one because had he wasted time, some enemies of state could have made it impossible and thereby turn Nigeria to another Venezuela.

    Further details of the President’s NEW ORDER are as follows:

    According to the President, “the new framework will end the practice of treating banditry, militancy and related crimes as isolated criminal activities.

    Instead, such acts will now fall squarely within the scope of terrorism, with harsher responses from the state”.

    “Under the new security architecture,  bandits, violent cults, militias, armed gangs, forest-based criminal groups and foreign-linked mercenaries would no longer be viewed as standalone criminal elements but as terrorist threats to national stability”.

    “We will usher in a new era of criminal justice. We will show no mercy to those who commit or support acts of terrorism, banditry, kidnapping for ransom and other violent crimes”.

    The President further explained that his administration was restructuring the nation’s security system around a new counterterrorism doctrine designed to improve coordination and effectiveness across security agencies.

    “Our administration, he said, is resetting the national security architecture and establishing a new national counterterrorism doctrine — a holistic redesign anchored on unified command, intelligence gathering, community stability, and counter-insurgency.

    This new doctrine will fundamentally change how we confront terrorism and other violent crimes.”

    He also indicated, very clearly, that the designation would apply broadly to all armed groups operating without state approval.

    “Under this new architecture, any armed group or gun-wielding non-state actors operating outside state authority will be regarded as terrorists”.

    “Bandits, militias, armed gangs, armed robbers, violent cults, forest-based armed groups and foreign-linked mercenaries will all be targeted”.

    “We will go after all those who perpetrate violence for political or sectarian ends, along with those who finance and facilitate their evil schemes.”

    The President also stressed that increased security spending under the 2026 budget would be tied to measurable outcomes, insisting that funding must translate into improved safety for Nigerians”.

    “We will invest in security with clear accountability for outcomes — because security spending must deliver results”.

    Concluding, the President added:

    “To secure our country, our priority will remain on increasing the fighting capability of our armed forces and other security agencies and boosting the effectiveness of our fight”.

    Let me conclude by wishing my loyal and incredible readers happy New Year in a much safer Nigeria.

  • Finally, President Tinubu takes the bull by the horns

    Finally, President Tinubu takes the bull by the horns

    By Tunde Rahman

    Given how sensitive the subject has become, it is understandable that the matter of state police has taken this long. Importantly, it has also become imperative that some drastic measures have to be taken to end the current security situation.

    Last week, President Bola Tinubu finally took the critical step towards tackling the hydra-headed security problem in the country.

    States that want to establish their own police, he declared, should now be free to do so. The widely-praised decision on state police was part of far-reaching orders the President issued that week, when he declared a national emergency on security.

    Many leaders before Tinubu had seen the need for state police, but they lacked the political will to do what has long been regarded as necessary.

    In a strongly-worded statement issued on November 26, President Tinubu also directed that the Armed Forces and police should recruit additional personnel, while the State Security Service should now deploy the already-trained Forest Guards to our forests to flush out terrorists, bandits, and other criminal elements.

     The President had earlier ordered the Inspector-General of Police, Kayode Egbetokun, to immediately withdraw police personnel serving as guards to Very Important Personalities and engage them for police duties in security-challenged areas. Egbetokun said during the week that over 11,000 officers so deployed have now been withdrawn from VIP guard duties.

     While all these measures will make more personnel available and put more boots on the ground to combat crimes and other forms of insecurity across the land, the matter of state police, a hot-button issue that has been on the agenda for decades, seems to be the most fundamental.

    By finally agreeing to throw his weight behind the issue, President Tinubu has now taken the bull by the horns.

    He has taken his silent restructuring efforts to another notch. Many may not have noticed, but the silent restructuring has resulted in several courageous and innovative moves. For instance, one of the first bills President Tinubu signed into law upon assuming office on May 29, 2023, was the power sector reform legislation, which decentralised power generation, transmission, and distribution, allowing sub-nationals to participate in the sector. The President also approved that Federal Capital Territory funds be removed from the Treasury Single Account, thus unlocking the funds accruing to the territory for FCT Minister Nyesom Wike to deploy to developmental projects. And this is what has largely accounted for the unprecedented infrastructure revamp witnessed in the city.

    READ ALSO: Ulerawa: How Oyebanji’s reforms is turning Ekiti public hospitals into centre of hope

     But the most significant of these are the economic reforms the President has carried out, straddling fiscal policy, energy sector reform and tax restructuring. The President removed the twin subsidies on fuel and foreign exchange, which did not benefit the people and the country as envisaged. The humongous fuel subsidy was like a Sword of Damocles on the nation’s economic jugular, while the multiple exchange rates that prevailed before May 2023 allowed arbitrage to operate on all fours. All that the highly connected needed to do was this: obtain the foreign exchange at the official rate and move over to the black markets to sell at exorbitant rates, thus profiteering at the people’s expense.

    There is also the new tax regime, scheduled to be operational from January next year, under which all taxes in the country have been streamlined, without burdening taxpayers with new taxes.

    These monumental reforms are already yielding fruit. The economic indicators have already turned green. All that is left is for our people to reap bountifully from the gains of the reforms. The reforms need to affect their standard of living fully.

    However, this cannot happen under the prevailing atmosphere of insecurity. This cannot occur if terrorists, bandits and other criminal elements are still on the prowl. No stone is, therefore, being left unturned in addressing the security issues. All efforts must be geared towards combating the menace and protecting our people.

     The resort to state policing has the potential to reduce crimes, if not eliminate them. The people know most of the criminals in their neighbourhoods and communities. Giving states the power to establish their own police, as is the case in other jurisdictions, will convert the groundswell of intelligence at the local level into an advantage in surveillance, crime detection, and prevention.

     Those who argue that the governors would abuse state police with their absolute control, that the police may become a tool in the hands of the states’ chief executives for hounding and oppressing political opponents, should also remember that even federal police are subject to abuse. The #EndSARS protests of October 2020 was initially intended to draw attention to the excesses of the police, particularly police brutality from the now-disbanded SARS unit, before hoodlums hijacked the protests to unleash arson and loot public property and assets of targeted individuals.

     State police may not be an end in itself. It would indeed require necessary fine-tuning, checks and corrections along the line when the system becomes operational. Those recruited into state police forces must be adequately trained, equipped, and briefed to understand the importance of their work and the implications of using force for improper purposes.

    Now, the National Assembly and the general public have their own responsibility cut out for them. The lawmakers should now play their part by enacting the enabling laws to give effect to state policing. Under our federal system of government, states ordinarily should have been empowered to maintain their own police forces, as the Federal Government does. This did not happen. State police is indeed long overdue.

    President Tinubu had said in his national security emergency statement: “I call on the National Assembly to begin reviewing our laws to allow states that require state police to establish them.

    States should rethink establishing boarding schools in remote areas without adequate security. Mosques and churches should constantly seek police and other security protection when they gather for prayers, especially in vulnerable areas.”

    He had said further: “My fellow Nigerians, this is a national emergency, and we are responding by deploying more boots on the ground, especially in security-challenged areas. The times require all hands on deck. As Nigerians, we should all get involved in securing our nation.”

     Also relevant to this security challenge is the whistleblowers’ role. Our people should be encouraged to smoke out crime wherever it may be lurking by providing information to the police. It is now imperative for the National Assembly to enact the necessary laws to protect whistleblowers. The Chairman of the Economic and Financial Crimes and Other Matters Commission, Mr Ola Olukoyede, has long been advocating this. The National Assembly must now take the gauntlet in the interest of a crime-free Nigeria and for the benefit of Nigerians. Let’s seize the moment we have craved for years.

    • Rahman is Senior Special Assistant to President Tinubu on Media & Special Duties.

  • For President Tinubu to win the insecurity war

    For President Tinubu to win the insecurity war

    As long as sponsors of insecurity remain unmasked, shamed and made to have their day in our courts, so long will the powerful factors motivating them, be they religion or money, continue to consume them, and for so long will insecurity remain with us no matter the number of military emergencies declared by the President.

    Even his most virulent political enemy will concede that President Bola Ahmed Tinubu is smart, redoubtable, and never afraid to take tough political decisions not minding whose ox is gored, as long as he believes they are in the best interest of the country.

    Unlike his immediate predecessor, President Muhammadu Buhari, he is never shackled, nor burdened with primordial or ethnic considerations in doing so.

    These are all the factors he will now have to fall back on if he truly wants to fight, and win the  resurgent insecurity war in the country.

    In this, he must be guided by history and remember that Nigerian governments have many times claimed to have tamed insecurity, citing for instance, how many Local Government Areas Boko Haram was claimed to have been expelled from in Borno state.

    He must also know that this is probably  going to be the toughest fight of his entire administration because it is going to be against some of the most powerful people in the country.

    Also, another election is approaching, and though he might have been kept in the dark, being non – Fulani,   when, in 2014/ 2015, then intending Presidential candidate of the APC, Muhammadu Buhari, was rumoured to have convoked a  meeting of some top Fulanis to plan how to oust President Goodluck Jonathan from office in order to retrieve  ‘their British inheritance – Nigeria’, and put it smack  back in Fulani hands. He must have since learnt about that as WhatsApp never forgets.

    And I dare say that despite the current deluge of decampments into the APC,  who says the same design may not be in the works against him now because we are dealing here with a  people whose major concern, always, is Fulani expansionism.

    READ ALSO: Delivering in despair: Why maternal deaths remain high in Cross River

    Or why the sudden, astronomical rise in security breaches?

    And what can be worse than three mass kidnappings, still counting, within days in Kebbi, Kwara and Niger states, as a result of which the Federal Government had to order the immediate shutdown of as many as 47 Federal Unity Colleges across the country, just as a slew of Northern states shut down literally all their schools?

    There isn’t the slightest  doubt some Fulanis believe it is time they conquer the rest of Nigeria which they arrogantly claim the British handed over to them at independence.

    Or haven’t they been out of power  for two very long years, plus!

    Below is part of the translation of a pamphlet allegedly written in Arabic and distributed in selected Mosques in Northern Nigeria by   FUNAM as far back as November 6, 2019 from which I have had cause to quote severally in the past:

    “This is the time to act. This is the time for second Holy War. We started in 1804. The British stopped us. We must regain the territories lost. It is against Islam to rotate power with infidels. Forget about election that will only lead to sharing of power”.

    “We must take the enemies in the West, Central and the North by surprise. That is the plot.

    Disperse and occupy their homes, forests, streets, schools, markets and act as spies. Our attacks on the infidels must be total and overwhelming. We must begin by instilling fear in them, weaken their resolve through kidnaps, brutal rapes, making it difficult for them to farm and subdue them before the war etc”.

    Which of these have Fulanis not shamelessly done or are currently doing all over the country?

    That was in 2019, but till date, not a single member of FUNAM has been invited for questioning by the Almighty Nigerian  security.

    All the above are, however, only minor parts of what is a much bigger challenge President Tinubu will have to frontally confront if he hopes to successfully deal with an insecurity conundrum that has convulsed Nigeria for over 15 years.

    And this is: “Who is really paying for Nigeria’s bloodbath?

    We talk endlessly about “terrorists”, “Fulani herdsmen”, “bandits” – as if they are ghosts who appear from thin air, armed to the teeth, fuelled, fed and endlessly re-supplied by magic.

    They are not ghosts.

    They are funded.

    And the sponsors are not barefoot militants in the bush – they are people in suits, kaftans and uniforms; sitting in air-conditioned offices in Abuja, Lagos, Kaduna, Dubai and beyond”.

    Chima Nnadi – Oforgu, quoted above, in a special report on terrorism and banditry in Nigeria, wrote at length on all these issues.

    Let us now dive into that seminal report from which we shall be quoting at some length.

    Wrote Chima – Oforgu:

    “In 2022, the Nigerian government quietly admitted that 96 terrorism financiers had been identified by the Nigerian Financial Intelligence Unit (NFIU) as backing Boko Haram and ISWAP.

    These were not rumours. They were based on financial intelligence – bank records, transfers, suspicious transaction reports – shared with law-enforcement agencies for prosecution”.

    “Yet till today, Nigerians do not have a public, detailed list of: who these 96 people and entities are,what political or business networks they belong to.

    What has become of the cases?

    So when government officials and foreign partners repeat the cliché: “We will go after the sponsors,” understand this: they already know many of them. The problem is not lack of intelligence. It is lack of political will”.

    Fortunately, nobody can any longer doubt that President Tinubu has political will the manner in which he removed  fuel subsidy and unified the foreign exchange market.

    To successfully fight terrorism in Nigeria, which has now been worsened by what Senator Adam Oshiomhole disclosed on the Senate  floor about those funding the bandits  guiding illegal mining operations, the President must be prepared to do much more.

    He must expose the names, shame and get tried, the following saboteurs, as detailed by Chima Oforgu in the article: “Terror financiers in government, Terror collaborators in the military; Terror enablers in the security agencies; Terror protectors in political parties

    Terror profiteers in the procurement system as well as the powerful individuals allegedly involved in illegal mining.

    Without the slightest doubt, the military emergency declared by the President is of great significance and will help the war on insecurity greatly.

    The significance of the emergency could, however, be greatly undermined if these powerful sponsors of Terror are left untouched, just like President Buhari and his Attorney – General, Abubakar Malami, left untried, the Nigerians who were named by the UAE, and recommended for trial.

    I say this because, as Oforgu wrote:”Here is the final warning:

    If Nigeria does not name the sponsors today, Nigeria will collapse under the terror they created tomorrow. And when that day comes, neither the rich nor the powerful will escape the consequences.

    The time for pretence is over”.

  • DSS files charge against Sowore, Facebook, X over false claims against President Tinubu

    DSS files charge against Sowore, Facebook, X over false claims against President Tinubu

    The Department of State Services (DSS) has filed a criminal charge against politician and online publisher, Omoyele Sowore, for allegedly making false claims against President Bola Ahmed Tinubu.

    Sowore is accused of referring to the President as a criminal in a post on his X handle.

    The DSS filed the five-count charge yesterday before the Federal High Court in Abuja.

    It comes a few days after a request by the secret police on Facebook and X, the platforms Sowore allegedly deployed for his false claim, to pull the misleading message down.

    In the charge, Mata (Facebook) Incorp and X Incorp are listed with Sowore as defendants.

    READ ALSO: A way out for the North

    Sowore, the presidential candidate of the African Action Congress (AAC) in  2019 and 2023 and publisher of Sahara Reporters, is, in the charge, accused of contravening the provisions of the Cybercrimes (Prohibition, Prevention, etc) Amendment Act, 2024.

    The Nation learnt that his arraignment on the charge is scheduled to happen anytime soon.

    The Nation learnt last night that Sowore had also filed a counter-suit                                                         against the DSS.

    One of the counts in the charge reads:

    •That you, Omoyele Sowore, adult, male on or about August 25, 2025, within the jurisdiction of this Honourable Court, did use your official X handle page, @Yele Sowore, to send out a message/tweet as: ‘

    “This Criminal @ official Pbat actually went to Brazil to state that there is no more corruption under his regime In Nigeria. What audacity to lie shamelessly!,” which you know the said message to be false but posted it for the purpose of causing a breakdown of law and order in the country, especially among individuals, who hold divergent views on the personality of the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, Bola Ahmed Tinubu (GCFR), and thereby committed an offence contrary to Section 24 (1) (b) of the Cybercrimes (Prohibition, Prevention, etc) Amendment Act, 2024.

  • Two years of President Tinubu: A business perspective

    Two years of President Tinubu: A business perspective

    By Abdul Samad Rabiu

    As Nigeria marks two years under the leadership of President Bola Ahmed Tinubu, I believe it is important to reflect, not from the lens of politics, but from the perspective of business, of industry, and of the economy. I speak not only as the Chairman of BUA Group – one of Africa’s largest conglomerates, but also as someone who has lived through the complexity of Nigeria’s reforms. I have seen the cost of dysfunction, the burden of inefficiency, but more importantly, the promise of a level playing field and the dividends of decisive governance.

    Fuel subsidy removal

    The removal of the fuel subsidy is one of the most important decisions taken by this administration. Before that, Nigeria was selling PMS at 200 or 250 Naira per litre, which was about 25 or 30 cents. I doubt there was any country in the world where fuel was being sold at that price. During my trip to Saudi Arabia for the lesser Hajj in February this year, I checked the pump price at one of the petrol stations as we drove from Jeddah to Mecca. When I converted the price to Naira, it was almost 1,500 Naira per litre. That was Saudi Arabia.

    We could simply not afford the subsidy. It was not just Nigerians who were benefiting from it. We were subsidising the entire region. I remember visiting Niger Republic a few years ago when President Bazoum honoured us. During dinner, he joked and said, “Thank you for the subsidy.” He said 100 percent of all PMS consumed in Niger was coming from Nigeria because it would cost them three times more to import. There was no incentive for them to bring in their own fuel or refine crude at their own refinery. This was the situation across the region.

    Today, I understand that our fuel consumption has dropped by almost 40 to 50 percent. It is not because Nigerians are consuming less, but because neighbouring countries have stopped tapping into our subsidised fuel. The PMS is still cheaper in Nigeria, even at 800 or 900 Naira per litre, but the logistics no longer support easy access. Countries like Niger and Benin Republic still take fuel from Nigeria, but others have stopped.

    The removal of subsidies was needed not only to save the economy but to ensure that Nigerians alone benefit from what is imported. Even if there must be subsidy, it should be for Nigerians only. The money saved is now being channelled to infrastructure, to better support for states, and to other developmental priorities. All the states are receiving more money now, and that has made a real difference.

    I am of firm opinion that President Bola Ahmed Tinubu made the right decision, and he made it boldly. On the first day he took office, he did what everyone knew had to be done but no one dared to do. He acted immediately. Many criticised him, but he did the right thing, and it saved the country. Had we continued under that burden, only God knows where we would be today. I always say, Mr President is probably the only one who had the courage to take such hard and necessary decisions.

    On the unification of the foreign exchange regime

    The unification of the foreign exchange market is another critical reform. Before this, many of us in the business community spent most of our time chasing foreign exchange. I personally spent half of my time trying to get FX from the Central Bank of Nigeria. The CBN was the only source of official exchange, offering FX at around 500 Naira when the parallel market was 800 or 900. No business could survive outside the CBN structure.

    Every two weeks, we would go to Abuja to seek allocations. It was exhausting and inefficient. You had to camp there for three or four days before Allocation Monday, waiting for the CBN to allocate dollars. Today, I have met the new CBN Governor, Mr Cardoso, only once in two years. The reason is simple: I do not need to go to Abuja now to get foreign exchange. The system is open. It is working.

    This was also a bold move by President Tinubu. It was necessary, and he took that decision as well. We are very glad because today we can focus on our businesses. These reforms are saving the economy.

    Fairness, sanity and stability in business

    Under this administration, we have seen a return to fairness and stability in business. We no longer worry about arbitrary shutdowns or politically motivated disruptions. Let me give a real example. We started a new business in Port Harcourt four or five years ago under BUA Foods, operating at the Rivers Ports under a concession with the Nigerian Ports Authority. It was going very well. One day, we woke up to a letter stating that the concession had been revoked, the terminal shut down, and the lease agreement terminated. There was no prior warning, no issue, no conflict.

    Later, we discovered that the Managing Director of NPA at the time decided to close the business simply because our operations were competing with those of her friend. She wanted to impress her friend. That was the only reason. Today, that kind of thing cannot happen. Nobody would dare take such an action under President Tinubu. You can wake up now without fear that your business has been shut down by an agency or politician.

    That stability is critical. That Port Harcourt plant alone has seen over 500 million dollars in investment and has employed over 4,000 people. The confidence this government has brought is real, and it is helping us plan better.

    I must also personally acknowledge former President Muhammadu Buhari. When our Port Harcourt plant was unfairly shut down, it was his intervention that saved it. I had the privilege of explaining the situation to him. He agreed it was wrong and acted. He said he would not permit injustice under his watch. That decision saved the business. But the reality is, I had access. What if I did not? That is the difference today. Now, nobody needs access to the President to be treated fairly. Everyone knows that if you do something wrong under President Tinubu, you may lose your job or even face prosecution and go to jail. That is why I can now spend more time focusing on the business and relaxing.

    The President Tinubu reforms are creating a level playing field. Like I said previously, every business had to lobby the CBN for FX. If you did not, your business would collapse. Now, you do not need to go to Abuja. You just focus on your operations.

    Infrastructure as a key driver of development

    In infrastructure, the difference is also clear. Look at the Lagos-Calabar highway. Look at the Sokoto-Badagry road. Look at the Kwara projects we are executing under the tax credit scheme. Look at Kano-Kongolam. Look at the Okpella to Kogi State corridor. These projects are progressing because of the savings from subsidy removal and FX unification. With more revenue, Nigeria is building.

    These roads and others being built are critical because logistics have become a major challenge. Transporting goods from Lagos to the North is very expensive due to bad roads. Now, the President is addressing this. With better infrastructure, logistics will improve, and businesses will grow. These reforms have enabled long-term planning and serious investment.

    BUA will continue to bet on Nigeria 

    Since President Tinubu took office, BUA Group has invested over one billion dollars in the Nigerian economy. We are expanding our food business, doubling our flour and pasta facilities in Port Harcourt and building another in Lagos. Demand is increasing. People are earning more. Confidence is returning. We have also completed the first POP plaster manufacturing plant in Nigeria which is now operating and are soon starting construction of a 30MW solar energy project in Sokoto State.

    In the oil and gas sector, we are completing our LNG project in Ajaokuta, Kogi State. These investments are possible because of stability that has been brought about by President Tinubu’s reforms. We can plan now. The exchange rate has been fairly stable for almost a year. FX is accessible. Money is coming in from different sources, and investors are responding. If you want 200 million dollars a week for trade, you can get it without lobbying anyone at the Central Bank. These are the results of good policies.

    On food security

    When I met President Tinubu recently, he raised concerns about food prices. He wanted to know what BUA Foods was doing. I explained that his six-month tariff waiver had worked. It disrupted hoarding in the rice market. In Nigeria, the rice harvest is short and runs for about three months. Middlemen were buying paddy rice, hoarding it, and raising prices post-harvest. This artificial scarcity drove prices to as high as 110,000 Naira per bag. The farmers did not benefit. Farmers just wanted to sell and move on yet some people were buying from them, hoarding it, and creating a food crises in the country.

    The temporary waiver allowed rice to be brought in, and milled immediately. The hoarders were cut out. Prices began to drop. It was a short-term solution, but it worked. It showed foresight. I told the President it helped and that if the situation persists, further steps can be taken. But for now, it has made a difference.

    President Tinubu’s Nigeria first policy and backward integration

    President Tinubu’s Nigeria First policy has aligned well with our own belief in backward integration. Our cement business is almost entirely local. We mine our own limestone. We use Nigerian gas even though it is dollar-denominated. The only foreign element is the equipment, and even that benefits from government concessions for mining equipment which everyone else in the industry benefits. If we had to import cement today, prices would be over 15,000 Naira per bag. Nigeria does not have the port infrastructure to even handle the import volume. Producing locally has saved the economy and stabilised the sector.

    We are doing more, and we will continue to do more. Nigeria has everything—population, arable land, resources, water, and now, strong leadership under President Tinubu. We believe in Nigeria because the fundamentals are now strong. My advice to all is to take a Bet on Nigeria. This is the place to be.

    So for me, what has this administration done right? First, it removed the fuel subsidy which was the biggest economic scam in our history. Second, it unified the foreign exchange market and third, it restored stability, fairness, and confidence in the economy. These are the foundations of growth. Nigeria is full of potential. With the right leadership, which we now have, there is no limit to what we can achieve.

    – Rabiu is the founder and chairman, BUA Group

  • Two years of unprecedented transformation: The remarkable footprints of President Tinubu’s administration

    Two years of unprecedented transformation: The remarkable footprints of President Tinubu’s administration

    By Usman Ishaq Shehu

    Over the past two years, President Bola Ahmed Tinubu’s administration has charted an extraordinary course of transformation, redefining Nigeria’s socio-economic landscape with bold reforms, visionary policies, and impactful initiatives that are already reshaping the nation’s future.

    This period marks a pivotal turning point in Nigeria’s development trajectory, characterized by impressive milestones across diverse sectors that underscore the administration’s unwavering commitment to growth, stability, and prosperity for all Nigerians.

    One of the hallmarks of President Tinubu’s tenure has been the empowerment of ordinary Nigerians through robust financial support schemes. Over 900,000 beneficiaries have accessed the Presidential Loan and Grant Scheme, a flagship program designed to stimulate grassroots entrepreneurship and economic participation.

    Complementing this, more than 300,000 students have benefited from the Students’ Loan Scheme, which is instrumental in enhancing access to quality education and equipping Nigeria’s youth for the future.

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    On the economic front, the administration has demonstrated fiscal prudence and strategic debt management by clearing over $10 billion in foreign exchange debt, relieving significant pressure on the nation’s finances and restoring confidence in Nigeria’s creditworthiness. This financial stewardship has been matched by a remarkable 3.84% GDP growth recorded in the fourth quarter of 2024, the highest growth rate in three years, signaling a robust and resilient economy poised for sustained expansion.

    Infrastructure development remains a cornerstone of the Tinubu administration’s agenda. There are over 440 ongoing road projects, including the construction of more than 2,700 kilometers of superhighways, aimed at boosting connectivity, facilitating trade, and opening up new economic corridors across the country. This infrastructural boom is not only creating jobs but also enhancing the ease of doing business and improving the quality of life for millions of Nigerians.

    The administration has also prioritized social justice and economic fairness through the implementation of a minimum wage of N70,000, ensuring a better standard of living for workers nationwide. Security has been another critical focus area, with over 13,500 terrorists neutralized, reflecting an uncompromising stance on safeguarding Nigerians and restoring peace to volatile regions.

    Foreign investment has surged under the Tinubu presidency, with commitments exceeding $50 billion in new Foreign Direct Investment. This influx of capital is further buoyed by an increase in net foreign exchange reserves from $3.99 billion in 2023 to an impressive $23.11 billion in 2024, underscoring strengthened economic fundamentals and improved investor confidence.

    The oil and gas sector has also experienced a revival, with over $8 billion unlocked in new investments, paving the way for enhanced energy security and increased revenues to support national development. Legislative reforms have been vigorous, with the passage of four landmark tax bills designed to modernize the tax framework and spur economic growth.

    To foster balanced regional development, five new Regional Development Commissions have been established, ensuring inclusive growth that reaches all corners of the nation. These commissions are tasked with coordinating development efforts tailored to the unique needs of Nigeria’s diverse regions.

    In summary, the first two years of President Bola Ahmed Tinubu’s administration represent a transformative era defined by visionary leadership, pragmatic policies, and tangible results. The Tinubu footprints are indelibly etched in Nigeria’s progress story, setting a strong foundation for continued prosperity, unity, and global competitiveness.

    Usman Ishaq Shehu, PhD Candidate, GMICCON

    Email: usmanshehu66@yahoo.com

  • Open letter to President Tinubu on N5,000, N2,000 notes

    Open letter to President Tinubu on N5,000, N2,000 notes

    • By Kola Amzat

    Mr President, this is my second letter in six months to Your Excellency on this key issue and hope it meets you well, Sir.

    Without doubt, since your inauguration as President, Commander-in- Chief, Armed Forces, Federal Republic of Nigeria, Nigeria has graciously and boldly moved to assume her rightful place as the largest economy in Sub-Saharan African. And, coupled with the nation’s audacious population, we’ve equally taken our place as the authentic giant of the African continent.

    This Year 2025 historic Appropriation Bill of N59.44 trillion, coming on the heels of the immediate past Year (2024) of N28.78 trillion have unequivocally proved that Nigeria’s economy has moved rapidly over the two years. It’s a fact we must accept.

    With the quantum of liquidity that would flow this fiscal year into the economy from all directions on account of the AUDACIOUS budget, it’s a no-brainer that the existing naira notes denomination with the highest at N1000 would no longer provide necessary support for the economy.

    If we continue with this arrangement, the country would be disregarding the basic law of economics that emphasises that a country’s currency basically reflects her strength. And the continual inaction in this respect would continually be at the nation’s peril!

    Instructively, in recent times, market capitalisation has oscillated between N67 trillion and N68 trillion mark, a marked indication that the investment market has grown in leaps and bounds, particularly, from the position of years 2020-2022 when it was swinging between N15 – n16 trillion mark, a stunning percentage growth of about 320%.

    Your Excellency, is it justifiable that the nation still maintains the existing arrangement of N1000 highest note denomination without creating disequilibrium and imbalance between the quantum of money supply in the economy and currency denomination in the face of the above reality?

    Sir, the government’s bold reforms in the Oil and Gas sector, as well as liberalising the Forex market, have attracted applause, even from unusual quarters – World Bank, as well the international community, including the globally recognised Fitch rating.

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    The reforms initiated by the CBN have helped narrow the gap between the official and alternative markets, as well as assisted in restoring market confidence and encouraged increased autonomous forex inflows through official channels, which ultimately has assisted broadening Nigeria’s foreign exchange earnings and sources beyond oil, with foreign reserves account presently standing at $38 billion.

    But, at present, the domestic currency to dollars still swings between N1600 and N1615.

    On the other hand, reforms in Oil and Gas have helped in totally restructuring and repositioning the NNPCL for results, as well as totally fortifying the security architecture in the Niger Delta region, with particular reference to engagement of Tantita Security outfit to halt the theft of crude oil on the deep sea, with the ultimate effect in the significant increase in oil revenue to the FAAC, following increase in crude production.

    But the effect of oil subsidy removal has really not abated, as PMS still hovers between N900 in Lagos and N936 in Abuja as at May 13, 2025.

    The implications of the above analysis remain: the nation can no longer operate with N1000 as the highest denomination as it doesn’t sufficiently reflect the country’s position.

    Your Excellency, against the backdrop of the above reality and statistics, maintaining the existing arrangement of N1000 denomination note as the highest would obviously be injurious and inimical to the economy.

    Cement price goes for between N8,500 and N10,500 in May 2025, a quantum leap from about N3,200 to -N3,500 in the year 2022, an increase of more than 200%.

    Astronomical increase has also been recorded on all other building materials – sands, gravels, blocks, steel reinforcement, timber, paints and finishing, with some hitting 250% and others going as much as 300%, yet, the currency highest denomination remains at N1,000.

    Central Bank of Nigeria (CBN) recently rolled out new charges on ATM withdrawals with N100 per N20,000 withdrawal at on-site ATMs and an additional surcharge of up to N500 per N20,000 at off-site ATMs. This directive took effect in March. 

    The Apex Bank has been generating incredible funds all over the country from this directive alone, a development that would ultimately REFLATE the economy and make mincemeat of the N1,000 note as the highest denomination.

    It’s also instructive that tariffs and general increase of 40-50% on Telecoms services is already on. The multiplier effect of incredible sums that are already reflating the economy is better imagined, particularly with a massive population of about 230-250 million Nigerians, with about 65-70% eternally glued and attached to telecoms services on hourly basis.

    Your Excellency, with the above, it’s a no-brainer that we can’t afford to continue with N1,000 note as the highest denomination.

    Sir, even though there is continual decrease in prices of staple foods -rice, yams, yeast etc., some items like bread, semovita, semolina stubbornly remain where they are for about two years running, thus ridiculing the purchasing power and, ultimately, rendering the retention of N1,000 notes as the highest unjustifiable.

    Finally, N50 and N100 notes have almost disappeared in circulation, an indication that even the economy itself is technically responding by sending them into extinction.

    Your Excellency, less discerning minds may disagree with my submissions on the need to roll out N2,000 and N5,000 notes denominations with a view to creating economic stability, balancing and equilibrium.

    They may be anchoring their criticisms on the potential inflationary rate that the proposed submission may bring to the economy.

    They may even liken it to devaluation of the nation’s currency. This is never the intention of this piece.

    Their argument may be valid within the context of the basic economics theory that higher currency denomination is akin to inflation, but it’s instructive that the nation will not continue to sacrifice the stability, equilibrium and balance of quantum of funds in the economy and appropriateness of currency denomination, for an inflationary rate challenge that does not hold water whatsoever in this present circumstance.

    • Amzat is a Lagos-based financial and management consultant
  • 2027: I remain loyal to President Tinubu, committed to APC – Sule

    2027: I remain loyal to President Tinubu, committed to APC – Sule

    Nasarawa State Governor, Abdullahi Sule, has clarified that the state under his leadership remains loyal and committed to the second term bid of President Bola Ahmed Tinubu and the All Progressives Congress (APC).

    Governor Sule, who stated this in a statement made available to our correspondent on Monday in Lafia, signed by his Chief Press Secretary, Ibrahim Addra, responded to the chairman of the North Central APC Forum, Alhaji Saleh Zazagga, who described Sule’s actions as a double game regarding Tinubu’s second term bid in 2027.

    The statement noted that while the governor’s office respects the right to political discourse and rarely responds to every noise, it has become necessary to react to Mr. Zazagga’s diatribe because it is riddled with inaccuracies, deliberate misrepresentations, and a glaring disconnect from the facts.

    “Governor Sule has consistently demonstrated his commitment to President Tinubu’s administration since its inception. His recent remarks at the event organised by the ALGON in Nasarawa State and friends of the new SSG, Labaran Shuaibu Magaji (PhD), were neither a contradiction of the efforts of those encouraging all the former CPC members to remain in APC nor an endorsement of division.

    “Rather, the governor’s reference to former president Muhammadu Buhari as the undisputed and symbolic leader of the defunct CPC bloc was a historical fact, not a political slight. So, His Excellency, Governor Sule, is neither a favour seeker nor want any recognition from anyone.

    “If the writer now claims that former President Muhammadu Buhari, GCFR, is not the undisputed leader of the CPC block in APC, he then owes the public and loyal party members a duty to clarify or justify the same rather than beating around the bush.

    “It is public knowledge that Buhari, as the founder of the CPC, remains a respected figure whose influence transcends factions.

    “Governor Sule’s call for unity, including his appeal to former AGF and Minister of Justice Abubakar Malami to remain in the APC, was a strategic push to consolidate all legacy blocs under the APC umbrella. This aligns perfectly with President Tinubu’s vision of a broad-based, inclusive party. To insinuate that Governor Sule is “against” Tinubu because he acknowledged Buhari’s historical role is not only illogical but a deliberate distortion of context.

    “The group’s attempt to pitch Governor Sule against Senator Al-makura, his predecessor and political ally, is disingenuous. Both leaders have worked collaboratively to redefine governance under the umbrella of the APC in Nasarawa State and beyond.

    Governor Sule’s statement that “only President Buhari can truly decide for the CPC” was a pragmatic recognition of the former president’s unique position as the bloc’s founder. To claim otherwise is to ignore the nuance of intra-party dynamics. This is a fact known by those who understand how CPC was formed.

    “The governor’s focus remains on ensuring that all factions, including those loyal to President Buhari, remain firmly within the APC fold, a goal that directly benefits the APC.

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    The Forum’s allegation that Governor Sule “opposed” President Tinubu’s tax reforms is a gross misrepresentation and lacking knowledge of happenings in the country.

     “Governor Sule only defended the position of the Northern Governors and Traditional Rulers, and thank God that both Mr. President and the National Assembly accepted the position of the Northern Governors. Those who are competent to understand what really happened are full of praise for the Governor and his colleagues.

    “To attract investment to Nasarawa State, His Excellency has always supported policies that stimulate economic growth, which is in line with President Tinubu’s long-term vision.

    “We urge Alhaji Saleh Zazagga and his group to retract their divisive claims and partner with patriotic stakeholders in advancing the APC’s collective interests.

    “The era of politics of deceit and illiteracy is long gone, as those in authority understand the game better. Unity and constructive engagement, not divisive rhetoric, will secure victory for the APC in 2027, and no one understands it better than our leader, President Bola Ahmed Tinubu, GCFR.” The statement concluded 

  • First Lady felicitates President Tinubu @73

    First Lady felicitates President Tinubu @73

    The First Lady, Sen. Oluremi Tinubu, has congratulated her husband, President Bola Tinubu, as he turns 73 years old, describing him as “my knight in shining armor”.

    The first lady in a personal message felicitating her husband on Saturday, expressed gratitude to God for His faithfulness in the life of the president over the years.

    “I rejoice and thank God Almighty for His faithfulness in your life over the years.

    “I celebrate your courage, strength, and resilience that have all contributed to who we both are today.

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    “May you live long, in divine health, joy, peace, and prosperity.

    “Happy Birthday Mr President, My Knight in Shining Armor,” the first lady said.

    (NAN)