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  • Tinubu orders regulators to track rise of digital currencies 

    Tinubu orders regulators to track rise of digital currencies 

    President Bola Ahmed Tinubu has directed financial and capital market regulators to monitor the growing use of stablecoins and digital currencies in Nigeria, warning that the shift away from traditional banking channels poses challenges that must be managed proactively.

    Speaking at the 18th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on Tuesday, President Tinubu, represented by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, noted that the global financial system is undergoing rapid transformation.

    “There is a digital revolution. So many people now are not using the banking system to make payments. They’ve turned to stablecoin. They’ve turned to digital currency,” the President said. 

    To this end, he directed “capital market authorities and banking authorities to get hold of this narrative and track it whilst it is still evolving.”

    The President stated that Nigeria’s economy needs to transition from resilience to reinvention, stressing that digital tools, artificial intelligence, and open banking are critical to driving industrialization, efficiency, and job creation.

    “Yes, our GDP is growing, but the percentage of industrial contribution from manufacturing is not where it should be to create the jobs we need. The innovation is there for the adoption of digital, AI, and open banking to enhance efficiency,” Tinubu noted.

    On the fiscal front, he pointed to the recently enacted tax reform laws, which are expected to usher in a fairer, more transparent, and efficient tax regime. He explained that reforms in technology deployment, including improved visibility of government accounts through linkage with the Central Bank since August 1, would boost revenue mobilization.

    “That linkage with the Central Bank, the revenue optimization team, now gives us full visibility on government finances, and that will yield dividends. It will lead to increased government revenues,” the President said.

    Tinubu also stressed the need for financial inclusion to translate into job creation for young Nigerians. “Households need reliable access to affordable financial services and reputable loans. Inclusion really means jobs, quality jobs, attractive jobs, particularly for our young men and women,” he said.

    The President restated his administration’s commitment to stabilizing the macroeconomic environment, creating jobs, reducing poverty, and mobilizing private sector investment. “Those that innovate, that reform, that collaborate, will thrive. This is the path that Nigeria is firmly committed to,” he stated.

    Central Bank Governor Yemi Cardoso, disclosed that Nigeria is on course to achieve $1 billion per month in diaspora remittances by 2026.

    “By next year, our projection will be $1 billion a month of diaspora remittances. We at the Central Bank, as far as we are concerned, we have done all the things to enable that to happen,” Cardoso said.

    Read Also: How agri-tech is rewriting Nigeria’s farming future

    He explained that the CBN had worked closely with commercial banks on international outreaches, which have improved diaspora confidence and boosted inflows. “When we started that journey, we were at $250 million a month. We said we would double that to $500 million. Now we are at $600 million,” Cardoso noted.

    In his welcome address, the President and Chairman of Council of CIBN, Prof. Pius Deji Olanrewaju, highlighted the sector’s achievements in the past year, citing banks’ successful capital raising, expansion of domestic credit, and growth in agent banking.

    “Since 2024, 16 listed banks have raised more than N2.5 trillion in fresh capital to strengthen their balance sheets. Net domestic credit to the private sector has risen to over N82 trillion this year, supporting businesses and job creation,” he said.

    Prof. Olanrewaju also pointed to progress in non-oil exports, with Nigeria’s basket expanding to 236 products in the first half of 2025, up from 202 in the same period last year, generating $3.23 billion in revenue — a 19.6 per cent year-on-year increase.

    On reforms, he noted that Tinubu’s June 26 signing of four tax reform bills into law has consolidated over 100 tax-collecting agencies into a single Nigeria Revenue Service, effective January 2026. “These new laws portend a new lease of life, with a lot of opportunities inherent in it for all and sundry,” he said.

  • Tinubu’s bold reforms proof of political will – Shettima

    Tinubu’s bold reforms proof of political will – Shettima

    …urges Africa to embrace knowledge economy, turn global disruptions into opportunities

    Vice President Kashim Shettima has described the sweeping reforms introduced by President Bola Ahmed Tinubu as courageous, inevitable, and a clear demonstration of political will in addressing Nigeria’s longstanding structural weaknesses.

    Speaking at the opening session of the 66th Annual Conference of the Nigerian Economic Society (NES) in Abuja on Tuesday, the Vice President said the administration is committed to steering the economy onto a path of sustainable growth despite the short-term hardships associated with the reforms.

    In a statement issued by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima said, “Nigeria is, of course, not exempt from Africa’s economic tragedies. But our silver lining is the listening ear of His Excellency, President Bola Ahmed Tinubu.

    “Under his leadership, this administration has embarked on bold and inevitable reforms to address structural weaknesses that others before us only paid lip service to. 

    “These reforms testify to the power of political will in economic policy. Their painful but necessary consequences remind us that a malignant disease can only be cured by painful surgery. The wounds are temporary, but the recovery is permanent”, Shettima told the gathering.

    The Vice President urged African nations to embrace the knowledge economy as a bridge to productivity and human capital development. 

    “We live in a world where a random citizen in Daura can outsource his services to a corporation in Dallas without leaving his bedroom. 

    Read Also: GMT holds strategy seminar, charts grassroots path for Tinubu’s 2027 bid

    “But to catch up with this changing world, Africa must embrace structural transformation that reinvents its human capital and reverses unemployment. Poverty must be confronted head-on for the promise of this continent to be realised in the lives of our people”, he said.

    Shettima argued that global challenges such as geopolitical conflicts, trade protectionism, supply chain disruptions, the energy transition, and artificial intelligence should not be seen only as threats but also as opportunities for Africa. 

    “They all paint a gloomy outlook. But each threat is also an opportunity in disguise. This is why a society such as yours exists: to light the path of a continent even in the darkest night,” he said.

    The Vice President assured that the Tinubu administration is mindful of the inflationary pressures and global spillovers affecting Nigeria’s economy. 

    He added that President Tinubu remains committed to “investment-friendly measures and social protection programmes to cushion the vulnerable,” noting that deliberate interventions in transport, healthcare, and education are targeted at reducing inequality.

    Minister of Budget and Economic Planning, Senator Abubakar Bagudu, praised Shettima’s role in the administration’s reforms and pledged that the NES would be fully integrated into the ministry’s programmes, including the Renewed Hope Ward Development Programme.

    Also speaking, the Minister of Livestock Development, Alhaji Idi Mukhtar Maiha, highlighted the untapped billions of dollars in Nigeria’s livestock sector, describing it as “the next crude oil.” 

    He said the government would partner with the NES to harness the sector in line with the Renewed Hope Agenda.

    In his remarks, NES President, Prof. Adeola Adenikinju, reaffirmed the society’s commitment to serving as a bridge between research and policy, while unveiling reforms that have broadened inclusivity and national reach. 

    “We established chapters across the 36 states, FCT and the Diaspora; created the NES Women’s Wing and Students’ Wing,” he said, noting that these initiatives have repositioned the NES as Nigeria’s foremost economic think-tank.

    Director of the African Development Institute, Dr. Eric Kehinde Ogunleye, commended the Tinubu administration for its bold reforms and urged African leaders to rethink investment in people. 

    “These are the people who represent the greatest assets of the continent,” he said.

    The conference attracted dignitaries including Special Adviser to the President on Economic Affairs, Tope Fasua; MOFI Board Chairman, Dr. Shamsudeen Usman; Nigeria’s first Professor of Capital Market Studies, Uche Uwaleke; and representatives of the Speaker of the House of Representatives, Tajudeen Abbas, and CBN Governor, Yemi Cardoso.

  • Tinubu urges extractive industry to embrace sustainable, low-carbon practices

    Tinubu urges extractive industry to embrace sustainable, low-carbon practices

    President Bola Tinubu has called on companies in Nigeria’s extractive industry to adopt cleaner and more sustainable practices in line with global energy transition goals.

    Speaking at the opening of the International Conference on Petroleum, Environment, Solid Minerals and Security (ICPESMS 2025) in Abuja, Tinubu emphasized the need for a low-carbon pathway, circular economy practices, and responsible community engagement. The event was organised by the Petroleum and Solid Minerals Development and Advocacy Association (PESMDAA) under the theme: “Sustainable Resource Development and Security Stability in the Extractive Sectors.”

    Represented by the Permanent Secretary, Federal Ministry of Environment, Mahmud Kambari, the president said extractive operations must evolve from exploration to decommissioning by reducing gas flaring, managing waste responsibly, and restoring degraded lands. 

    He stressed that affected communities deserved fair compensation, biodiversity protection, and genuine remediation efforts.

    “Only through such measures can we build resilience, trust, and long-term prosperity,” Tinubu said, while urging development partners, businesses, civil society, academia, the media, and citizens to collaborate with government in greening the sector.

    Secretary to the Government of the Federation, Senator George Akume, represented by Engr. Nadungu Gagare, described the extractive sector as a potential driver of economic transformation but cautioned that its promise could only be realized through inclusive governance, transparency, and strong collaboration across institutions and stakeholders.

    Read Also: Northern Christian forum hails Tinubu for standing by Shettima

    He said, “A stable and secure extractive sector is foundational to peacebuilding and national cohesion.”

    Akume stressed the risks posed by unsustainable resource extraction, environmental degradation, and community discontent.

    Chairman of PESMDAA, Robert Adah, said communities nationwide have been suffering the consequences of mismanaged extraction.

    “From Sokoto to Lagos, Maiduguri to Port Harcourt, the cry is the same For every blessing, there is a burden, and in our case, the burden has been degradation and economic mismanagement,” he said.

    He explained that PESMDAA was committed to helping states improve their internally generated revenue while ensuring the federal government benefits from resource extraction without further harming local communities.

    Permanent Secretary, Ecological Project Office (EPO), Dr Aishetu Ndayako reaffirmed its commitment to erosion control, flood management, and environmental restoration.

    Represented by the Director of Solid Erosion and Flood Control, Eluma Garba the permanent secretary said collaboration with civil society groups like PESMDAA was critical to ensuring sustainable utilisation of natural resources.

    “Together, we can safeguard our environment and strengthen community resilience in line with global best practices and Nigeria’s development goals,” she said.

  • Tinubu orders urgent action on power crisis in hospitals 

    Tinubu orders urgent action on power crisis in hospitals 

    …vows political will to take necessary steps 

    President Bola Tinubu has directed that the persistent power crisis in Nigeria’s public health institutions must be urgently addressed, stressing that lives are at stake.

    Represented by the Secretary to the Government of the Federation, Senator George Akume, the President made this commitment at the first Stakeholders Dialogue on Power in the Health Sector, themed ‘Synergy: Energizing Nigeria’s Health Sector for the Future’

    Tinubu said his administration is determined to provide the political will required to implement the outcomes of the summit, describing the dialogue as a defining moment in tackling one of the most pressing challenges undermining healthcare delivery.

    “This National Dialogue must not be a mere talkshop. It must yield actionable outcomes including the review and alignment of national and sub national policies on energy access in the health sector, the institutionalisation of energy audits and planning within our hospital systems, mobilisation of social investment and diverse financing streams, including green bonds and concessional lending for energy supply to the health sector, and establishing results-driven monitoring and accountability frameworks for implementation,” he said.

    The President emphasized that success would not be measured by speeches but by uninterrupted light in hospitals and functioning equipment across the country.

    “The success of this initiative will not be measured by the speeches we deliver but by the uninterrupted light in our hospitals, the hum of functioning equipment, and the renewed confidence of every Nigerian who walks through the doors of a public health facility,” Tinubu said.

    He highlighted the urgency of power outages in surgical theatres, maternity wards, intensive care units, and emergency rooms that compromise safety and cost lives.

    “These outages cannot continue, and under our administration, they should not. Lives are at stake. We must act now,” he declared.

    Read Also: Yishawu celebrates Oluremi Tinubu at 65, hails First Lady’s legacy of service

    The President stressed that the initiative is part of his broader Renewed Hope Agenda to decentralize and deploy sustainable energy solutions while encouraging private sector participation. 

    Noting that electricity shortages in hospitals, he said, are inefficient, uneconomical, and erode patient confidence, the President said, “Through the Energy Transition Plan and our Power Sector Reform initiatives, we are building a robust foundation for cleaner, more resilient, and more decentralized energy delivery systems across Nigeria. 

    “These efforts are deeply rooted in the principles of sustainability, innovation, and inclusivity”.

    He outlined strategies such as expanding off-grid solar and hybrid systems for health facilities, incentivizing private sector participation, promoting public-private partnerships, and leveraging blended financing to attract development partners. 

    He also pledged better security for energy installations and urged hospitals to adopt efficient, community-owned systems.

    “This National Dialogue is not merely a discussion forum. It is a launching pad for collaborative action, strategic alignment, and shared responsibility in powering our nation’s health institutions. Together, let us energize health, empower institutions, and protect the lives of our people,” Tinubu added.

    The convener of the dialogue, the Minister of State for Health, Dr. Adekunle Salako, said Nigeria’s health system cannot improve without sustainable solutions to the electricity crisis. 

    He disclosed that many hospitals spend between ₦20 million and ₦180 million monthly on electricity, with fuel purchases accounting for nearly half of operating expenses.

    He cited surveys by BudgIT, Sustainable Energy for All, and the Healthcare Federation of Nigeria showing that 40 percent of primary health centres lack electricity, while those connected to the grid receive an average of only 10 hours of supply daily. 

    Noting that Federal Tertiary Health Institutions require between 3 to 8 megawatts of power but currently receive only about 5.3 hours daily from the grid, he said, “This scenario has resulted in sub-optimal service delivery with compromised quality of treatment and poor health outcomes. 

    “Services have been disrupted, public health compromised, and many lives lost due to poor electricity supply. Energy supply has become an emergency that we must address if all the healthcare reforms and investments being made will achieve the desired results”.

    While acknowledging ongoing efforts such as the Rural Electrification Agency’s 100 containerised solar systems and the EU’s Nigeria Solar for Health Programme, Salako said the scale of the crisis requires new models that mobilise social impact investments and innovative financing. 

    He warned that maintenance issues in some facilities highlight the need for sustainable planning, adding, “We can no longer afford business as usual in the face of service interruption, patient dissatisfaction, and mounting energy bills in our hospitals. 

    “The time has come to relieve our hospitals of the prohibitive cost of power supply which gulps hundreds of millions of naira monthly,” he said.

    On his part, the Minister of Power, Adebayo Adelabu, called for stronger collaboration between the health and power sectors. 

    He highlighted steps that have already been initiated to address the challenges, noting that solar hybrid systems already installed at hospitals such as the University of Maiduguri Teaching Hospital (12MW) and University of Calabar Teaching Hospital (7MW), which now cut costs and improved efficiency.

    “These are not abstract achievements; they represent real lives being saved,” Adelabu said, stressing that renewable energy projects during the COVID-19 pandemic ensured uninterrupted power for vaccines and emergency care.

    He pointed to frameworks already established under the Electricity Act 2023 and the National Integrated Electricity Policy, but warned that progress was still too slow and fragmented. 

    “This is not just about powering buildings. It is about powering hope, powering dignity, and powering the future of our nation,” he declared.

    The World Bank also reaffirmed its support. 

    Country Director for Nigeria, Mr. Mathew Verghis, represented by Vinay Vurukutu, described access to electricity as “foundational to resilient healthcare delivery.” 

    He pointed to the Nigeria Electrification Programme, the $650 million IMPACT project powering over 2,000 primary healthcare centres, and the $750 million DARES project piloting solar rooftops in Lagos hospitals.

    He said early results show longer staff hours, improved patient access, and reduced infant and maternal mortality.

    The Permanent Secretary of the Ministry of Health and Social Welfare, Daju Kachollom, said the dialogue would produce a compact to ensure no health facility in Nigeria is left in darkness.

  • GMT holds strategy seminar, charts grassroots path for Tinubu’s 2027 bid

    GMT holds strategy seminar, charts grassroots path for Tinubu’s 2027 bid

    The Grassroots Movement for Tinubu (GMT) has gathered in Lagos for a strategy seminar designed to strengthen grassroots mobilisation and voter engagement ahead of President Bola Ahmed Tinubu’s 2027 re-election bid.

    The seminar, themed “Training the Trainers,” brought together at the weekend over 150 GMT directors drawn from Delta, Ogun, Osun, Oyo, Ondo, Ekiti, Kaduna, Adamawa and Kogi States, who were tasked with returning to their communities to replicate the training and deepen grassroots sensitisation.

    Chief of Staff to the Lagos State Governor, Mr. Tayo Ayinde, who delivered the keynote address, said the All Progressives Congress (APC) must learn from the shortcomings of 2023.

    According to him, complacency and poor grassroots connection almost cost Tinubu victory even in Lagos, considered the party’s political stronghold.

    “The 2023 election taught us that sentiment alone cannot win elections. Organisation, grassroots connection, youth engagement, sharper messaging, and party unity are key to securing victory in 2027,” Ayinde said.

    He listed voter apathy, misinformation, internal divisions, and youth discontent as the major pitfalls that weakened the APC in 2023, insisting that such errors must not be repeated.

    “We cannot take any vote for granted, not even in our backyard,” he warned.

    “In 2027, we must be more organised, more connected, more persuasive, and friendlier to voters. Every challenge is also an opportunity. We must reconnect with the grassroots, especially the youths, artisans, students and the digital community.”

    Ayinde charged GMT directors to serve as “storytellers” of Tinubu’s achievements, urging them to spread the message of renewed hope across markets, churches, mosques, campuses, communities and workplaces.

    “Victory is calling us once again. In 2023 we made history, in 2027 we must consolidate and expand that victory. Let us pick one message: Tinubu has done it before, he is doing it again, and with your support, he will complete the job,” Ayinde added.

    Minister of Interior, Olubunmi Tunji-Ojo, who was represented by Mr. Bode Obanla, pledged his support for GMT, describing the organisation as one of the most disciplined grassroots structures working for Tinubu’s second term.

    Read Also: Northern Christian forum hails Tinubu for standing by Shettima

    “I’m committed to ensuring that President Tinubu secures more than 80 percent of votes in Ondo State. Partisans cannot be left idle. They must be constructively engaged or they will drift to other parties. GMT has earned my trust because of how organised you are,” Tunji-Ojo said.

    In his welcome address, GMT Director-General, Hon. Adebisi Yusuf, said the movement was not just another political group but the “engine room of mobilisation” for Tinubu’s presidency.

    “GMT is the link between leadership and the people, and the vanguard of renewed hope at the grassroots,” Yusuf declared.

    On the sidelines, he explained that GMT was designed to avoid the pitfalls of 2023 by building structures that target real voters at ward and local government levels.

    “What happened in 2023 taught us a lesson. That is why we went back to the drawing board. GMT is different from political jamborees. We go house-to-house, to the real voters, encouraging even those without Permanent Voter Cards (PVCs) to register,” Yusuf said.

    He stressed that the real heartbeat of democracy is in the grassroots, adding, “The real voters are the common people, and their votes count. Our duty is to explain Tinubu’s achievements in language they understand and to show them why short-term sacrifice will lead to long-term gains. The heartbeat of democracy lies in the grassroots. With organised action and collective commitment, no goal is beyond our reach. Together, we will transform ideas into action and action into victory,” he concluded. 

    Deputy Chairman of GMT, Dr. Kolawole Peregrine, outlined the organisation’s diverse departments, which include female lawyers, artisans, voters’ education, digital engagement, women affairs, foreign affairs, welfare, finance and budget, and education.

    “These specialised groups are set up to ensure that every critical constituency is reached ahead of 2027,” Peregrine explained.

    Director of Women Affairs of GMT and immediate past Executive Chairman of Iru-Victoria Island LCDA, Princess Rasheedat Abiodun, said mobilisation efforts had already begun, with voter registration and women’s participation as priorities.

    “We have started already, and election begins with voter registration which is ongoing. We are engaging and educating women on why they must participate in voting — and voting for the right man, Tinubu, who we are sure will do the job. As women, we must push ourselves and make our mark in political decision-making,” she said.

    Ogun State GMT leader, Mr. Tola Banjo, said the seminar broadened participants’ understanding of Tinubu’s legacy and policies.

    “My take-home from this seminar is that we have been equipped with more knowledge about how to sell Mr. President. We knew some of what he has done, but the keynote address reminded us of his foundation work in Lagos, including the creation of Local Council Development Areas (LCDAs). Those structures are still paying off today — for example, the Ikosi-Isheri LCDA just built the biggest Primary Healthcare Centre in Nigeria, but the foundation was laid by Tinubu,” Banjo said.

    He added that in Ogun State, GMT would combine voter awareness creation with feedback collection.

    “We want people to know what they stand to benefit, to hear from them what we are doing right and what more they want. This movement is about creating awareness and letting people know how they can key in,” he explained.

    At the close of the seminar, GMT leaders resolved to replicate the training in their various states, local governments, and wards, with a focus on direct engagement, voter education, and countering misinformation.

  • Tinubu working assiduously to engender responsible borrowing to address Nigeria’s public debt – Speaker Abbas

    Tinubu working assiduously to engender responsible borrowing to address Nigeria’s public debt – Speaker Abbas

    • …advocates stronger oversight to align with the Renewed Hope Agenda for sustainable growth

    The Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen said President Bola Ahmed Tinubu is working assiduously to address Nigeria’s public debt through a non-oil revenue drive.

    The Speaker noted that public debt, if well utilised, can engender growth and development in any country.

    He said Nigeria could leverage responsible borrowing for sustainable development as demonstrated by the Tinubu administration.

    “Indeed, public debt, when managed prudently, can be a tool for growth and prosperity. Yet, when left unchecked, it becomes a burden that erodes economic stability and threatens the welfare of future generations,” Speaker Abbas noted.

    The Speaker said while delivering his keynote address in Abuja on Monday at the opening of the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees (WAAPAC).

    He was represented at the event by the Leader of the House, Prof. Julius Ihonvbere.

    The Public Accounts Committee of the House, with the support of WAAPAC and international development partners, organised the event with the theme ‘Strengthening Parliamentary Oversight of Public Debt: The Role of Finance and Public Accounts Committees.’

    A statement by the Special Adviser on Media and Publicity to the Speaker, Musa Abdullahi Krishi, noted that the Speaker’s remarks were not a call to reject borrowing outright but reflected a responsible approach to debt management—one that ensures that borrowing translates into real value for Nigerians.

    This, the statement noted, aligns squarely with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises fiscal discipline, prudent resource management, and channeling funds into critical areas like infrastructure, education, green energy, and social welfare.

    Last week, President Tinubu announced during a meeting with the stakeholders of The Buhari Organization in Abuja, Nigeria, had met its revenue target for 2025 ahead of schedule and would no longer rely on borrowing to fund its budget.

    The President also said his administration’s non-oil revenue drive had yielded enough to meet this year’s projections by August, reducing Nigeria’s dependence on external loans.

    “Today I can stand here before you to brag: Nigeria is not borrowing. We have met our revenue target for the year, and we met it in August,” the president said.

    At the WAAPAC event, the Speaker emphasised the “need for stronger oversight, transparent borrowing practices, and a collective resolve to ensure that tangible economic and social returns match every naira borrowed.”

    Read Also: Tinubu mourns renowned school proprietor, educationist Leila Fowler

    He added, “When we examine the sources of Africa’s external financing, it becomes clear that the weight of debt on our continent is shaped by whom we borrow from and on what terms. Today, Western private lenders hold about 35 percent of Africa’s government debt through banks, asset managers, and oil traders.

    “Multilateral institutions, such as the World Bank and the IMF, account for another 39 percent, while bilateral loans from other governments comprise 13 percent. Despite much of the public debate, Chinese creditors hold only 12 percent.

    “To place this in sharper focus, in 2019, bondholders alone represented 27 percent of Africa’s external debt, making them the single largest creditor group, ahead of China at 13 percent.”

    Speaker Abbas stated that if Africa is to grow stronger, the countries must not only negotiate fairer terms of borrowing but also rethink their dependence on external finance.

    “We must channel more energy into mobilising domestic resources, fostering intra-African trade, and creating financial instruments that serve the continent’s own development priorities. Only then can we move from vulnerability to resilience, and from dependency to true economic sovereignty,” he said.

    The Speaker stated that the conference could not have come at a more opportune time, “as our nation’s face mounting fiscal pressures that demand stronger legislative oversight of public debt and borrowing.”

    He also noted that the theme “speaks directly to the urgency of safeguarding our financial future,” stressing that it “goes to the very heart of democratic governance and sustainable development.”

    Speaker Abbas said, “Therefore, oversight of public debt is a democratic duty and a moral responsibility of the legislature. Our parliaments must ensure that every borrowing decision reflects prudence, transparency, and the collective interest of our citizens.

     While noting that the implications of this debt structure are far-reaching, the Speaker said a “significant share of our national revenues is tied to debt servicing rather than being invested in the things our people need most: roads, schools, hospitals, and innovation.”

    He added that the high cost of commercial loans, coupled with the burden of repayment in foreign currencies, leaves many African economies vulnerable to market shocks. “This narrows fiscal space, constrains domestic policy choices, and slows the pace of sustainable development,” he said.

  • Tinubu’s aide organises free digital skills’ training for girls 

    Tinubu’s aide organises free digital skills’ training for girls 

    The Senior Special Assistant to the President on Student Engagement (SSAP-SE), Comrade Sunday Asefon on Monday commenced a free digital skills’ training for girls in Abuja.

    Speaking to reporters during the opening session of the training programme, Asefon said the training was in furtherance of President Bola Ahmed Tinubu’s belief in investing in women.

    The programme which is being anchored under the Gender Education, Engagement, Empowerment, and Entrepreneurship Programme (G4EP), an initiative of the office of the SSAP-SE is meant to train  100 girls through intensive hands-on training on digital skills like photography, cinematography, graphics and website design in one month.

    Asefon said: “Today, we have  launched part of a bigger programme tagged: “Project RISE.” RISE is Renewed Hope, Inclusion, Support and Empowerment for  the female students in Nigeria.

    “The RISE Project will be launched in Abuja on October 14  and it’s going to be the largest convergence of female students in Nigeria.

    “Today’s programme is about training and skills acquisition for 100 female students. We believe so much in our female students and the girl child.

    We believe that given the opportunity, they can thrive if they have skills and abilities. 

    Read Also: Tinubu mourns renowned school proprietor, educationist Leila Fowler

    “As future mothers, we need to start today to build that future and that is why we believe that students need to learn some practical skills so that after graduating, they won’t be looking for white collar jobs. Rather, they can become independent. We want to confidence in them.

    “Meanwhile, you know President, Bola Ahmed Tinubu is HeForShe. He believes so much in the women and he believes in investing in the women is just as if you are investing into society  because they are builders.

    “What Asiwaju Bola Ahmed Tinubu’s government believes is that what a man can do, a woman can do it better.”

    Also speaking on training initiative designed to equip young girls across Nigeria with creative and digital skills, the Chairman of the G4EP, Dr. Judith Ogbara, said the RISE Project represents inclusion, empowerment, and opportunity.

    According to her, the programme will train 100 girls over the course of one month under G4EP’s flagship project, Renewed Hope for Inclusion, Support, and Empowerment (RISE) which she said is aligned with the present administration’s Renewed Hope Agenda policy.

    “By providing access to in-demand creative and digital skills, the programme is designed to foster inclusion and create real opportunities for girls to thrive in today’s tech-driven world, ensuring that no one is left behind,”  Ogbara said.

    According to her, the free training is aimed at breaking barriers that often limit the girl-child’s growth. “In today’s world, digital literacy and creativity open doors to limitless opportunities,” Ogbara said.

    Ogbara added: “The First Lady, Her Excellency, Senator Remi Tinubu, is very focused on 35 per cent inclusion for gender in elective and appointive positions in the country. You can see deliberate efforts to include women in government. She’s been going around empowering women. 

    “She’s very deliberate, so I feel if we’re there, we’re the ones that know  what problems we have.  If we’re included  in the Renewed Hope Agenda,  I feel as if we’ll be targeting  our problem areas that we want to address.”

  • Why Tinubu’s administration introduced NELFUND – Information Minister

    Why Tinubu’s administration introduced NELFUND – Information Minister

    The Minister of Information and National Orientation, Alhaji Muhammed Idris, says introduction of the Nigerian Educational Loan Fund (NELFUND) is to ensure that no Nigerian child is denied access to quality higher education.

    Idris, stated this on Monday in Ibadan at a Town Hall meeting organised by the Ministry to sensitise the public on the midterm achievements of President Bola Tinubu’s administration.

    The News Agency of Nigeria (NAN) reports that the theme of the sensitisation campaign is ‘Tinubu Administration’s Mid-Term Report.’

    Idris, who was represented by the Head of Federal Ministry of Information in Oyo State, Mr Moses Oyelade, said that the country had suffered a regime of haphazard human development indices over the years.

    According to him, the nation’s Human Development Index (HDI) was not what it should be, therefore President Bola Tinubu resolved to address the challenge.

    He said that this resolve of President Tinubu was what activated the NELFUND initiative.

    Idris asserted that over 5,000 students of the University of Ibadan in Oyo State have benefited from NELFUND.

    The minister further said that the President Tinubu administration had been working assiduously and through its policies and programmes transforming the country.

    He said that the town hall meeting was meant to present the stewardship of President Tinubu’s administration in the last two years.

    In his presentation, the event’s Resource Person, Dr Solomon Oyeleye, who is the Acting Director of Parents’ Engagements and Alumni Relations, Caleb University, Lagos, lauded the economic-policies of the Tinubu administration.

    Oyeleye said the removal of oil subsidy was in order, noting that the decision was risky, but it was a necessity “because until that time, we were spending more than 80 per cent of our revenue on servicing loans.

    “Even though, we are not there yet, but what the President has done so far is guiding us towards a direction that our forefathers actually envisioned.”

    He urged the Federal Government to engage with the stakeholders; Academic Staff Union of Universities (ASUU); the health workers, among others, to ensure that the country does not lose the gains of the oil subsidy removal.

    Oyeleye also canvassed federal support for regional security outfits, such as ‘Amotekun’ to  empower them to better complement the police and other security agencies.

    He equally recommended that social programmes should be enlarged to cover more of the South-West.

    Highlighting the achievements of President Tinubu’s administration in Oyo state, the Controller of Works, Federal Ministry of Works, Mr Victor Kolawole, said that the government, in the last two years, embarked on a number of road construction/ rehabilitation across the state.

    Kolawole said that Oyo state plays a vital role in the economic and transportation sector of Nigeria because it was a gateway to other regions in country.

    He said that the FG in March re-awarded the contract for the completion of Oyo-Ogbomoso dual carriage-way.

    According to him, the new contractor was working aggressively on the project.

    He also said that work was ongoing on the Saki-Okerete road, “which is a transborder road.

    “Also, Ibadan-Oyo road is undergoing rehabilitation while Ibadan-Ife- Ilesa road reconstruction is receiving federal government attention,” the controller said.

    According to him, the Federal Ministry of Works, under the leadership of Sen. David Umahi, due to evolving realities, had to rescope the Ibadan-Ife- Ilesa road project to reflect technical, financial  and social considerations.

    “The ministry is determined and committed to overcoming this challenges and delivering the project to meet the socio-economic aspirations of the people and the Renewed Hope Agenda of this present administration,” he said.

    Kolawole maintained that the federal government through the Works ministry would continue to deliver quality road projects for the benefits of Nigerians.

    In the same vein, Solomon Adewole, who spoke on behalf of the Ministry of Housing, state office, said the administration was currently constructing 250- housing units, known as Renewed Hope Estate at Erunmu in Ibadan.

    Read Also: Tinubu’s Brazil visit a strategic game changer for Africa – Information minister

    Adewole said the Renewed Hope Estate project comprises 25 units of one bedroom, 75 units of two bedroom and 25 units of three bedroom.

    He said the houses were meant for the less privileged, because of its affordability to the common masses.

    Adewole said that  road network into the estate had been completed while the real project was at over 60 per cent completion.

    In his remarks, the Dean of Students, University of Ibadan, Prof. Demola Lewis, appreciated President Tinubu’s administration for the introduction of NELFUND.

    Lewis confirmed that not less that 5,000 students of the University of Ibadan, had benefited from the initiative.

    He urged government to further engage in students-friendly initiatives that would assist more students in their academic pursuit.

    (NAN)

  • Civil society coalition alleges plot to blackmail Tinubu’s anti-corruption drive, EFCC leadership

    Civil society coalition alleges plot to blackmail Tinubu’s anti-corruption drive, EFCC leadership

    A coalition of civil society organisations under the aegis of the National Interest Coalition (NICO) has raised the alarm over an alleged plot to blackmail and destabilise President Bola Ahmed Tinubu’s anti-corruption efforts and the leadership of the Economic and Financial Crimes Commission (EFCC).

    Speaking at a press conference in Abuja on Monday, the convener of the group, Comrade Bashir Saleh Abdu, alleged that some top government officials are funding a coordinated campaign against the EFCC under its Chairman, Olanipekun Olukoyede.

    He claimed that billions of naira in stolen public funds are being deployed to undermine the anti-graft agency, distract President Tinubu, and derail the anti-corruption agenda.

    “They want to divert attention from the ongoing investigations that have exposed their dirty dealings, thereby sabotaging the government and empowering its enemies,” Abdu said.

    The group further alleged that secret meetings have been held with dissident figures and sponsored campaigns aimed at smearing the image of the President, EFCC, and the Department of State Services (DSS).

    NICO called on President Tinubu to remain resolute and urged the EFCC leadership not to be intimidated, stressing that no one—regardless of status—should be allowed to evade justice.

    The coalition also appealed to civil society groups, labour unions, student bodies, religious leaders, the media, and patriotic Nigerians at home and abroad to stand in defence of the nation’s future.

    “We stand today at a very critical junction in our nation’s history. President Bola Ahmed Tinubu came into the office with a clear promise—to renew hope, clean up the rot in our public institutions, and make the government work again for the people.

    “One of the boldest fronts of this renewed hope agenda is the war against corruption—a war that Nigerians of conscience must not allow to be sabotaged. Since May 29, 2023, the Tinubu administration has made unprecedented strides in strengthening the anti-corruption framework and reforming the criminal justice system. Among the key milestones are.

    “Granting the EFCC and ICPC free hands to investigate and prosecute powerful individuals without political interference, including those holding top government positions and heads of government business organizations.

    “Overhauling the Treasury Single Account (TSA) and other fiscal controls to block leakages and wastage of public funds. Expanding the use of technology in revenue generation and monitoring to curb corruption in tax administration, ports, and customs.

    “Strengthening the Administration of Criminal Justice Act (ACJA) to ensure faster trials, discourage frivolous adjournments, and guarantee that corruption cases no longer drag endlessly in court.

    “Promoting inter-agency collaboration that allows the EFCC, ICPC, CCB, NFIU, and law enforcement to operate in synergy.

    “These reforms have rekindled public confidence that, at last, Nigeria may be on the path to real accountability.

    “Similarly, under the able leadership of Mr. Olanipekun Olukoyede, the EFCC has recorded landmark achievements within a short period. These include the recovery of billions of Naira in stolen assets and funds, some of which have already been returned to victims of fraud and government coffers.

    “Launching a crackdown on internet fraudsters and financial crimes, with hundreds of convictions secured across various courts in the country.

    “Prosecution of high-profile politically exposed persons, sending a strong message that there are no longer sacred cows.”

    The group then commended the anti-corruption agency for establishing a more victim-focused compensation system, where fraud victims now benefit directly from EFCC’s recovery efforts.

    “Driving institutional reforms within the Commission to improve efficiency, professionalism, and transparency. For the first time in many years, Nigerians are seeing renewed energy in high-profile investigations, asset recoveries, and the fearless pursuit of powerful persons who once believed themselves untouchable. This has sent a clear signal: the era of business as usual is over,” NICO said.

    The group stated that corruption had decided to fight back, adding that credible reports have confirmed that “some embattled men—individuals already facing corruption-related cases, some of whom still occupy sensitive positions in government—have drawn up a grand conspiracy to frustrate this anti-corruption crusade. These desperate men, terrified of the long arm of the law, are now deploying billions of stolen public funds to blackmail the EFCC leadership, to undermine President Tinubu’s anti-corruption drive, and to destabilize this government.

    “Their tactics are clear: Orchestrated media attacks designed to smear the name of the EFCC Chairman, Mr. Olukoyede, and weaken public trust in the Commission.

    “Sponsorship of propaganda to paint the anti-graft war as selective, thereby discouraging public support. Deployment of allies in and out of government, including certain serving senior officials, to distract the President and derail his administration’s progress.

    “Attempting to instigate confusion and crisis, all to divert attention from their ongoing cases and shield themselves from justice.

    “This is not just an attack on Mr. Olukoyede; this is not just an attack on the EFCC. This is a direct attack on President Tinubu’s renewed hope agenda, on the future of Nigeria’s children, and on the millions of Nigerians who demand a government that works for them, not for corrupt elites.

    “We must make it clear: we will not allow this sinister agenda to succeed! We call on President Bola Ahmed Tinubu to remain steadfast, undistracted, and unyielding. Nigerians are watching, Nigerians are with you, and Nigerians demand that this anti-corruption war be taken to its logical conclusion. The EFCC must not be cowed, the Chairman must not be intimidated, and no thief—no matter how highly placed—must be allowed to escape justice.

    “This country belongs to over 200 million Nigerians, not to a handful of corrupt men hiding behind propaganda. We refuse to be silent while they fund chaos with our stolen money. Let the world hear us: We stand with President Tinubu. We stand with the EFCC. We stand with Olanipekun Olukoyede. And we stand with justice. The fight is not just for today—it is for generations unborn.”

  • Tinubu mourns Leila Fowler, celebrates her legacy in education

    Tinubu mourns Leila Fowler, celebrates her legacy in education

    President Bola Ahmed Tinubu has expressed deep sorrow over the passing of Chief (Mrs.) Leila Euphemia Apinke Fowler, a distinguished lawyer, renowned educationist, and founder of the Vivian Fowler Memorial College for Girls in Lagos.

    Mrs. Fowler, who was the Yeye Mofin of Lagos and mother of former Federal Inland Revenue Service (FIRS) Chairman, Babatunde Fowler, died at the age of 92.

    In a condolence message on Monday, made available by his Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu described her death as “a massive loss to her family, loved ones, and the entire nation, particularly the education sector, where she distinguished herself as a visionary and trailblazer.”

    The President hailed the late matriarch for her lifelong dedication to education and service, recalling her pioneering role in founding the Vivian Fowler Memorial College for Girls. 

    “Through establishing the Vivian Fowler Memorial College for Girls, the late Mrs. Fowler laid the foundation for academic excellence, nurturing generations of young women and empowering them to reach their fullest potential,” he said.

    “Her legacy lives on in the thousands of lives she transformed. The nation is grateful for her remarkable impact. She will be fondly engraved in our minds,” the President added.

    President Tinubu extended his condolences to the Fowler family, associates, and the students and staff of the Vivian Fowler Memorial College, as well as the government and people of Lagos State. 

    He prayed that Almighty God would grant Mrs. Fowler eternal rest and comfort all who mourn her passing.