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  • Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has firmly asserted that President Bola Tinubu’s reforms in the foreign exchange and oil and gas sectors are irreversible.

    Edun shared this information during a meeting with Doris Uzoka Anite, the newly appointed Minister of State for Finance, at the Ministry’s headquarters on Monday.

    He said, “Nigeria now have a foreign exchange rate that is market based and also a deregulated oil market pricing which are two reforms that are long overdue over many decades that President Tinubu is currently implementing.

    “Therefore as co-ordinating minister of economy, we stand on a threshold of a new dawn to implement these reforms and increase productivity, create jobs and reducing poverty and we are glad to have a minister of state that will help in actualizing the President’s reforms.”
    Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has firmly asserted that President Bola Tinubu’s reforms in the foreign exchange and oil and gas sectors are irreversible. Edun shared this information during a meeting with Doris Uzoka Anite, the newly appointed Minister of State for Finance, at the Ministry’s headquarters on Monday. He said, “Nigeria now have a foreign exchange rate that is market based and also a deregulated oil market pricing which are two reforms that are long overdue over many decades that President Tinubu is currently implementing. “Therefore as co-ordinating minister of economy, we stand on a threshold of a new dawn to implement these reforms and increase productivity, create jobs and reducing poverty and we are glad to have a minister of state that will help in actualizing the President’s reforms.”
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  • tiketmasuk https://bio.link/mytiket One of the top-secret vacation spots for international celebrities, Pulau Moyo, located in West Nusa Tenggara, is a hidden paradise. Celebrities such as Lady Diana, Mick Jagger, David Bowie, and David Beckham have all enjoyed its secluded beauty.

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  • The oil markets have addressed a letter to the President, dated October 21, in which they are requesting a grant of N100 billion to assist in preventing the closure of impacted 10,000 marketers’ businesses in the coming weeks.

    Dr. Joseph Obele, the National Public Relations Officer for PETROAN, stated that the price of a truckload of PMS has surged from N7 million to N47 million over the past 16 months.

    He said, “Three days ago, there was a meeting at the national headquarters of PETROAN. At the meeting, there was, an indication that about 10,000 of our members would quit business in the next 45 days because their trading capital had been severely affected.

    “That was why we wrote a letter to Mr President, dated October 21, requesting a grant of N100bn to save the affected marketers’ businesses from shutting down in the next few weeks.”

    Abubakar Maigandi, the President of the Independent Petroleum Marketers Association of Nigeria, acknowledged that there has been a decline in fuel consumption. He noted that the union's members have also been impacted by this situation.

    “There is a drop in consumption and the price of a truckload is higher now. So, we have reduced the quantity of fuel we buy. For instance, someone who bought 10 trucks before can only buy eight now. So, we haven’t been getting the right quantity that we are supposed to get. We sell only the little quantities we get,” he said.

    The leadership of the Nigeria Union of Petroleum and Natural Gas Workers has highlighted that the failure of oil marketers to purchase fuel has led to job losses for truck drivers and employees at petrol stations across the nation.

    Mr. Afolabi Olawale, the Secretary-General of NUPENG, stated, “The economy is not smiling at all. Many petrol station owners cannot even buy a single truckload, and this has affected our members. Those of them that are truck drivers hardly get loads to carry anymore. Many petrol stations have closed down and our members who are petrol station workers have lost their jobs.

    “This is an unfolding situation. It’s evolving, so I may not be able to give you the actual number of people affected now because we have those in the informal and formal sectors. We have people in the upstream, downstream, and midstream. But I don’t have the statistics right here with me to give you.

    “Though everybody is affected, those in the downstream are the most affected. It affects those in the downstream sector directly because they are truck drivers, station workers, and the representatives of the marketers at different depots.”
    The oil markets have addressed a letter to the President, dated October 21, in which they are requesting a grant of N100 billion to assist in preventing the closure of impacted 10,000 marketers’ businesses in the coming weeks. Dr. Joseph Obele, the National Public Relations Officer for PETROAN, stated that the price of a truckload of PMS has surged from N7 million to N47 million over the past 16 months. He said, “Three days ago, there was a meeting at the national headquarters of PETROAN. At the meeting, there was, an indication that about 10,000 of our members would quit business in the next 45 days because their trading capital had been severely affected. “That was why we wrote a letter to Mr President, dated October 21, requesting a grant of N100bn to save the affected marketers’ businesses from shutting down in the next few weeks.” Abubakar Maigandi, the President of the Independent Petroleum Marketers Association of Nigeria, acknowledged that there has been a decline in fuel consumption. He noted that the union's members have also been impacted by this situation. “There is a drop in consumption and the price of a truckload is higher now. So, we have reduced the quantity of fuel we buy. For instance, someone who bought 10 trucks before can only buy eight now. So, we haven’t been getting the right quantity that we are supposed to get. We sell only the little quantities we get,” he said. The leadership of the Nigeria Union of Petroleum and Natural Gas Workers has highlighted that the failure of oil marketers to purchase fuel has led to job losses for truck drivers and employees at petrol stations across the nation. Mr. Afolabi Olawale, the Secretary-General of NUPENG, stated, “The economy is not smiling at all. Many petrol station owners cannot even buy a single truckload, and this has affected our members. Those of them that are truck drivers hardly get loads to carry anymore. Many petrol stations have closed down and our members who are petrol station workers have lost their jobs. “This is an unfolding situation. It’s evolving, so I may not be able to give you the actual number of people affected now because we have those in the informal and formal sectors. We have people in the upstream, downstream, and midstream. But I don’t have the statistics right here with me to give you. “Though everybody is affected, those in the downstream are the most affected. It affects those in the downstream sector directly because they are truck drivers, station workers, and the representatives of the marketers at different depots.”
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  • The Federal Government is considering the termination of Julius Berger’s contract due to ongoing disputes regarding pricing for the Abuja-Kaduna-Kano highway project.

    The Federal Government has encouraged Julius Berger (Nig) Plc to embrace the N740.7 billion allocated by the Federal Executive Council (FEC) for the completion of the outstanding segment of the Abuja-Kaduna-Kano highway.

    During a meeting with Julius Berger (Nig.) Plc, represented by Engr. Banjamin Bott, the Executive Director of Projects, Minister of Works Engr. David Umahi emphasized this point.

    He said, “We have written to the President to approve that if JBN Plc does not accept the N740 billion, we will terminate the contract. We have terminated some of their jobs because we’ve been negotiating sometimes 12 months, 13 months. There must be an end to negotiation.”

    “We are ready to pay you (JBN Plc) even fresh mobilisation, just to underscore the interest of the President on this project. So, we are appealing and begging you that by Monday, you should be able to sign the addendum to the contract.”
    The Federal Government is considering the termination of Julius Berger’s contract due to ongoing disputes regarding pricing for the Abuja-Kaduna-Kano highway project. The Federal Government has encouraged Julius Berger (Nig) Plc to embrace the N740.7 billion allocated by the Federal Executive Council (FEC) for the completion of the outstanding segment of the Abuja-Kaduna-Kano highway. During a meeting with Julius Berger (Nig.) Plc, represented by Engr. Banjamin Bott, the Executive Director of Projects, Minister of Works Engr. David Umahi emphasized this point. He said, “We have written to the President to approve that if JBN Plc does not accept the N740 billion, we will terminate the contract. We have terminated some of their jobs because we’ve been negotiating sometimes 12 months, 13 months. There must be an end to negotiation.” “We are ready to pay you (JBN Plc) even fresh mobilisation, just to underscore the interest of the President on this project. So, we are appealing and begging you that by Monday, you should be able to sign the addendum to the contract.”
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  • FULL TEXT OF NATIONAL BROADCAST BY PRESIDENT BOLA AHMED TINUBU ON THE 64TH INDEPENDENCE ANNIVERSARY OF THE FEDERAL REPUBLIC OF NIGERIA OCTOBER 1, 2024

    Fellow Nigerians, as I address you today, I am deeply aware of the struggles many of you face in these challenging times. Our administration knows that many of you struggle with rising living costs and the search for meaningful employment. I want to assure you that your voices are heard.

    As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel.

    Exactly 64 years ago, our founding fathers chose democracy as a form of government and launched the dream of a great country that would lead the rest of Africa out of poverty, ignorance, and underdevelopment, a beacon of hope to the rest of Africa and the world.

    Over six decades later, we can look back, and Nigerians worldwide can see how well we have succeeded in realising the lofty dreams of our founding fathers.

    The world is witnessing and benefiting from the can-do spirit of the Nigerian people, our massive intellectual capacity, and our enterprise and industry in all vocations, from arts to science, technology to infrastructure. The dreams that our founding fathers envisaged are still a work in progress. Every day, we put our hands on the plough, determined to do a better job of it.

    While it is tempting to focus on what has been left undone and where we have stumbled as a nation, we must never lose sight of how far we have come in forging and holding our country together.

    Since independence, our nation has survived many crises and upheavals that led to the dissolution and disintegration of many other nations worldwide. Six years after independence, our country descended into a political crisis that led to a bitter and avoidable civil war. Since returning from the brink of that darkest moment, we have learned to embrace our diversity and manage our differences better as we continue to work towards engendering a more perfect union.

    Despite the many challenges that buffeted our country, we remain a strong, united, and viable sovereign nation.

    Dear compatriots, our independence anniversary gives us another chance to reflect on how far we have gone in our journey to nation-building and to renew our commitment to building a better nation that will serve present and future generations of Nigerians.

    While we celebrate the progress we have made as a people in the last sixty-four years, we must also recognise some of our missed opportunities and mistakes of the past. If we are to become one of the greatest nations on earth, as God has destined us to be, our mistakes must not be allowed to follow us into the future.

    My administration took over the leadership of our country 16 months ago at a critical juncture. The economy faced many headwinds, and our physical security was highly impaired. We found ourselves at a dizzying crossroads, where we must choose between two paths: reform for progress and prosperity or carry on business-as-usual and collapse. We decided to reform our political economy and defence architecture.

    On the security front, I am happy to announce to you, my compatriots, that our administration is winning the war on terror and banditry. Our target is to eliminate all the threats of Boko Haram, banditry, kidnapping for ransom, and the scourge of all forms of violent extremism. Within one year, our government has eliminated Boko Haram and bandit commanders faster than ever. As of the last count, over 300 Boko Haram and bandit commanders have been eliminated by our gallant troops in the Northeast, Northwest, and some other parts of the country.

    We have restored peace to hundreds of communities in the North, and thousands of our people have been able to return home. It is an unfinished business, which our security agencies are committed to ending as quickly as possible. As soon as we can restore peace to many communities in the troubled parts of the North, our farmers can return to their farms. We expect to see a leap in food production and a downward spiral in food costs. I promise you, we shall not falter on this.

    Our government has been responding to the recent natural disasters, particularly the flooding in parts of the country. After Vice President Kashim Shettima visited Maiduguri, I also visited to assure our people that this federal government will always stand with our people in their times of trouble. At the last meeting of the Federal Executive Council, we approved a Disaster Relief Fund to mobilise private and public sector funds to help us respond faster to emergencies.

    Our government has also ordered integrity tests of all our dams in the country to avert future disasters.

    The economy is undergoing the necessary reforms and retooling to serve us better and more sustainably. If we do not correct the fiscal misalignments that led to the current economic downturn, our country will face an uncertain future and the peril of unimaginable consequences.

    Thanks to the reforms, our country attracted foreign direct investments worth more than $30 billion in the last year.

    Fellow compatriots, our administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of our regulatory processes. This principle guides the divestment transactions in our upstream petroleum sector, where we are committed to changing the fortune positively. As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA. This was done in the same manner as other qualified divestments approved in the sector.

    The move will create vibrancy and increase oil and gas production, positively impacting our economy.

    The more disciplined approach adopted by the Central Bank to monetary policy management has ensured stability and predictability in our foreign exchange market. We inherited a reserve of over $33 billion 16 months ago. Since then, we have paid back the inherited forex backlog of $7 billion. We have cleared the ways and means debt of over N30 trillion. We have reduced the debt service ratio from 97 per cent to 68 per cent. Despite all these, we have managed to keep our foreign reserve at $37 billion. We continue to meet all our obligations and pay our bills.

    We are moving ahead with our fiscal policy reforms. To stimulate our productive capacity and create more jobs and prosperity, the Federal Executive Council approved the Economic Stabilisation Bills, which will now be transmitted to the National Assembly. These transformative bills will make our business environment more friendly, stimulate investment and reduce the tax burden on businesses and workers once they are passed into law.

    As part of our efforts to re-engineer our political economy, we are resolute in our determination to implement the Supreme Court judgment on the financial autonomy of local governments.

    The central concern of our people today is the high cost of living, especially food costs. This concern is shared by many around the globe as prices and the cost of living continue to rise worldwide.

    My fellow Nigerians, be assured that we are implementing many measures to reduce the cost of living here at home.

    I commend the Governors particularly, in Kebbi, Niger, Jigawa, Kwara, Nasarawa, and the Southwest Governors that have embraced our agricultural production programme. I urge other states to join the Federal Government in investing in mechanised farming. We are playing our part by supplying fertilizer and making tractors and other farm equipment available. Last week, the Federal Executive Council approved establishing a local assembly plant for 2000 John Deere tractors, combine harvesters, disc riders, bottom ploughs and other farm equipment. The plant has a completion time of six months.

    Our energy transition programme is on course. We are expanding the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players. The Federal Government is ready to assist the thirty-six States and FCT in acquiring CNG buses for cheaper public transportation.

    Fellow Nigerians, while we are working to stabilise the economy and secure the country, we also seek to foster national unity and build social harmony and cohesion. Our economy can only thrive when there is peace.

    As we work to overcome the challenges of the day, we remain mindful of the next generation as we seek to galvanize their creative energy towards a better future. We lead today with the future we wish to bequeath to our children in focus, recognizing that we cannot design a future that belongs to them without making them its architects.

    Considering this, I am pleased to announce the gathering of a National Youth Conference. This conference will be a platform to address the diverse challenges and opportunities confronting our young people, who constitute more than 60 per cent of our population. It will provoke meaningful dialogue and empower our young people to participate actively in nation-building. By ensuring that their voices are heard in shaping the policies that impact their lives, we are creating a pathway for a brighter tomorrow.

    The 30-day Confab will unite young people nationwide to collaboratively develop solutions to issues such as education, employment, innovation, security, and social justice. The modalities of this Confab and selection of delegates will be designed in close consultation with our young people through their representatives. Through this confab, it will be our job as leaders to ensure that their aspirations are at the heart of the conference’s deliberations. The government will thoroughly consider and implement the recommendations and outcomes from this forum as we remain resolute in our mission to build a more inclusive, prosperous, and united Nigeria.

    Our government is implementing several other youth-centric programmes to give our young people an advantage in the rapidly changing world. We are implementing, amongst others, the 3 million Technical Talents programme (3MTT) of the Ministry of Communications, Innovation and Digital Economy, aimed at building Nigeria's technical talent backbone.

    We have also enthusiastically implemented the Nigerian Education Loan Fund (NELFUND), which provides cheap loans to our students to pursue their tertiary educational dreams. In addition, later this month, we shall launch The Renewed Hope Labour Employment and Empowerment Programme (LEEP). It is conceived as a comprehensive suite of interventions at job creation by the Federal Ministry of Labour and Employment that is aimed at facilitating the creation of 2.5 million jobs, directly and indirectly, on an annual incremental basis whilst simultaneously ensuring the welfare and safety of workers across the country.

    As is the tradition, the government will soon announce all the beneficiaries of our national honours for 2024.

    The Senate President and the Chief Justice of the Federation have been conferred with the honour of the Grand Commander of the Order of the Niger (GCON). The deputy Senate President and Speaker of the House of Representatives have the honour of Commander of the Order of the Federal Republic (CFR), while the deputy speaker of the House has been awarded Commander of the Order of Niger (CON) .

    Fellow Nigerians, better days are ahead of us. The challenges of the moment must always make us believe in ourselves. We are Nigerians—resilient and tenacious. We always prevail and rise above our circumstances.

    I urge you to believe in our nation's promise. The road ahead may be challenging, but we will forge a path toward a brighter future with your support. Together, we will cultivate a Nigeria that reflects the aspirations of all its citizens, a nation that resonates with pride, dignity, and shared success.

    As agents of change, we can shape our destiny and build a brighter future by ourselves, for ourselves and for future generations.

    Please join our administration in this journey towards a brighter future. Let us work together to build a greater Nigeria where every citizen can access opportunities and every child can grow up with hope and promise.

    May God continue to bless our nation and keep members of our armed forces safe.

    Happy Independence anniversary, my fellow Nigerians!
    FULL TEXT OF NATIONAL BROADCAST BY PRESIDENT BOLA AHMED TINUBU ON THE 64TH INDEPENDENCE ANNIVERSARY OF THE FEDERAL REPUBLIC OF NIGERIA OCTOBER 1, 2024 Fellow Nigerians, as I address you today, I am deeply aware of the struggles many of you face in these challenging times. Our administration knows that many of you struggle with rising living costs and the search for meaningful employment. I want to assure you that your voices are heard. As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel. Exactly 64 years ago, our founding fathers chose democracy as a form of government and launched the dream of a great country that would lead the rest of Africa out of poverty, ignorance, and underdevelopment, a beacon of hope to the rest of Africa and the world. Over six decades later, we can look back, and Nigerians worldwide can see how well we have succeeded in realising the lofty dreams of our founding fathers. The world is witnessing and benefiting from the can-do spirit of the Nigerian people, our massive intellectual capacity, and our enterprise and industry in all vocations, from arts to science, technology to infrastructure. The dreams that our founding fathers envisaged are still a work in progress. Every day, we put our hands on the plough, determined to do a better job of it. While it is tempting to focus on what has been left undone and where we have stumbled as a nation, we must never lose sight of how far we have come in forging and holding our country together. Since independence, our nation has survived many crises and upheavals that led to the dissolution and disintegration of many other nations worldwide. Six years after independence, our country descended into a political crisis that led to a bitter and avoidable civil war. Since returning from the brink of that darkest moment, we have learned to embrace our diversity and manage our differences better as we continue to work towards engendering a more perfect union. Despite the many challenges that buffeted our country, we remain a strong, united, and viable sovereign nation. Dear compatriots, our independence anniversary gives us another chance to reflect on how far we have gone in our journey to nation-building and to renew our commitment to building a better nation that will serve present and future generations of Nigerians. While we celebrate the progress we have made as a people in the last sixty-four years, we must also recognise some of our missed opportunities and mistakes of the past. If we are to become one of the greatest nations on earth, as God has destined us to be, our mistakes must not be allowed to follow us into the future. My administration took over the leadership of our country 16 months ago at a critical juncture. The economy faced many headwinds, and our physical security was highly impaired. We found ourselves at a dizzying crossroads, where we must choose between two paths: reform for progress and prosperity or carry on business-as-usual and collapse. We decided to reform our political economy and defence architecture. On the security front, I am happy to announce to you, my compatriots, that our administration is winning the war on terror and banditry. Our target is to eliminate all the threats of Boko Haram, banditry, kidnapping for ransom, and the scourge of all forms of violent extremism. Within one year, our government has eliminated Boko Haram and bandit commanders faster than ever. As of the last count, over 300 Boko Haram and bandit commanders have been eliminated by our gallant troops in the Northeast, Northwest, and some other parts of the country. We have restored peace to hundreds of communities in the North, and thousands of our people have been able to return home. It is an unfinished business, which our security agencies are committed to ending as quickly as possible. As soon as we can restore peace to many communities in the troubled parts of the North, our farmers can return to their farms. We expect to see a leap in food production and a downward spiral in food costs. I promise you, we shall not falter on this. Our government has been responding to the recent natural disasters, particularly the flooding in parts of the country. After Vice President Kashim Shettima visited Maiduguri, I also visited to assure our people that this federal government will always stand with our people in their times of trouble. At the last meeting of the Federal Executive Council, we approved a Disaster Relief Fund to mobilise private and public sector funds to help us respond faster to emergencies. Our government has also ordered integrity tests of all our dams in the country to avert future disasters. The economy is undergoing the necessary reforms and retooling to serve us better and more sustainably. If we do not correct the fiscal misalignments that led to the current economic downturn, our country will face an uncertain future and the peril of unimaginable consequences. Thanks to the reforms, our country attracted foreign direct investments worth more than $30 billion in the last year. Fellow compatriots, our administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of our regulatory processes. This principle guides the divestment transactions in our upstream petroleum sector, where we are committed to changing the fortune positively. As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA. This was done in the same manner as other qualified divestments approved in the sector. The move will create vibrancy and increase oil and gas production, positively impacting our economy. The more disciplined approach adopted by the Central Bank to monetary policy management has ensured stability and predictability in our foreign exchange market. We inherited a reserve of over $33 billion 16 months ago. Since then, we have paid back the inherited forex backlog of $7 billion. We have cleared the ways and means debt of over N30 trillion. We have reduced the debt service ratio from 97 per cent to 68 per cent. Despite all these, we have managed to keep our foreign reserve at $37 billion. We continue to meet all our obligations and pay our bills. We are moving ahead with our fiscal policy reforms. To stimulate our productive capacity and create more jobs and prosperity, the Federal Executive Council approved the Economic Stabilisation Bills, which will now be transmitted to the National Assembly. These transformative bills will make our business environment more friendly, stimulate investment and reduce the tax burden on businesses and workers once they are passed into law. As part of our efforts to re-engineer our political economy, we are resolute in our determination to implement the Supreme Court judgment on the financial autonomy of local governments. The central concern of our people today is the high cost of living, especially food costs. This concern is shared by many around the globe as prices and the cost of living continue to rise worldwide. My fellow Nigerians, be assured that we are implementing many measures to reduce the cost of living here at home. I commend the Governors particularly, in Kebbi, Niger, Jigawa, Kwara, Nasarawa, and the Southwest Governors that have embraced our agricultural production programme. I urge other states to join the Federal Government in investing in mechanised farming. We are playing our part by supplying fertilizer and making tractors and other farm equipment available. Last week, the Federal Executive Council approved establishing a local assembly plant for 2000 John Deere tractors, combine harvesters, disc riders, bottom ploughs and other farm equipment. The plant has a completion time of six months. Our energy transition programme is on course. We are expanding the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players. The Federal Government is ready to assist the thirty-six States and FCT in acquiring CNG buses for cheaper public transportation. Fellow Nigerians, while we are working to stabilise the economy and secure the country, we also seek to foster national unity and build social harmony and cohesion. Our economy can only thrive when there is peace. As we work to overcome the challenges of the day, we remain mindful of the next generation as we seek to galvanize their creative energy towards a better future. We lead today with the future we wish to bequeath to our children in focus, recognizing that we cannot design a future that belongs to them without making them its architects. Considering this, I am pleased to announce the gathering of a National Youth Conference. This conference will be a platform to address the diverse challenges and opportunities confronting our young people, who constitute more than 60 per cent of our population. It will provoke meaningful dialogue and empower our young people to participate actively in nation-building. By ensuring that their voices are heard in shaping the policies that impact their lives, we are creating a pathway for a brighter tomorrow. The 30-day Confab will unite young people nationwide to collaboratively develop solutions to issues such as education, employment, innovation, security, and social justice. The modalities of this Confab and selection of delegates will be designed in close consultation with our young people through their representatives. Through this confab, it will be our job as leaders to ensure that their aspirations are at the heart of the conference’s deliberations. The government will thoroughly consider and implement the recommendations and outcomes from this forum as we remain resolute in our mission to build a more inclusive, prosperous, and united Nigeria. Our government is implementing several other youth-centric programmes to give our young people an advantage in the rapidly changing world. We are implementing, amongst others, the 3 million Technical Talents programme (3MTT) of the Ministry of Communications, Innovation and Digital Economy, aimed at building Nigeria's technical talent backbone. We have also enthusiastically implemented the Nigerian Education Loan Fund (NELFUND), which provides cheap loans to our students to pursue their tertiary educational dreams. In addition, later this month, we shall launch The Renewed Hope Labour Employment and Empowerment Programme (LEEP). It is conceived as a comprehensive suite of interventions at job creation by the Federal Ministry of Labour and Employment that is aimed at facilitating the creation of 2.5 million jobs, directly and indirectly, on an annual incremental basis whilst simultaneously ensuring the welfare and safety of workers across the country. As is the tradition, the government will soon announce all the beneficiaries of our national honours for 2024. The Senate President and the Chief Justice of the Federation have been conferred with the honour of the Grand Commander of the Order of the Niger (GCON). The deputy Senate President and Speaker of the House of Representatives have the honour of Commander of the Order of the Federal Republic (CFR), while the deputy speaker of the House has been awarded Commander of the Order of Niger (CON) . Fellow Nigerians, better days are ahead of us. The challenges of the moment must always make us believe in ourselves. We are Nigerians—resilient and tenacious. We always prevail and rise above our circumstances. I urge you to believe in our nation's promise. The road ahead may be challenging, but we will forge a path toward a brighter future with your support. Together, we will cultivate a Nigeria that reflects the aspirations of all its citizens, a nation that resonates with pride, dignity, and shared success. As agents of change, we can shape our destiny and build a brighter future by ourselves, for ourselves and for future generations. Please join our administration in this journey towards a brighter future. Let us work together to build a greater Nigeria where every citizen can access opportunities and every child can grow up with hope and promise. May God continue to bless our nation and keep members of our armed forces safe. Happy Independence anniversary, my fellow Nigerians!
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  • Summary of President Tinubu's Nationwide Address:

    * Fuel subsidy removal is necessary.

    *Commiserates with victims' families over the death of their loved ones.

    * Urge protesters to stop the protest.

    * Economy remains anemic.

    * Bulk stops with him.

    * Aggregate revenue has doubled to N9.1trn in H1 2024.

    * Productivity gradually increasing in the non-oil sector.

    * Revenue to debt-service reduced to 68% in the last 13months from 97%.

    * Cleared legitimate $5bn forex backlogs.

    * Moves resulted in spending more money on Nigerians.

    *States are receiving record high monies ever.

    * Increased oil production to 1.6mbpd

    * Investors are coming back.

    * $500m foreign investment signed.

    * CNG launched, to reduce transport cost by 60%.

    * 1million conversion kits to be distributed at little or no cost.

    *To date, N45.6bn student loan processed to students and schools.

    * Established N200bn consumer credit scheme.

    * Ordered the release of N50bn each for NELFUND, Consumer credit from crime proceeds from EFCC.

    * Secured $620m for I-DICE for digital skills.

    * Introduced Skill-Up program

    * N570bn released to States for livelihoods support.

    * 600,000 nano businesses have benefitted from nano grants, additional 400k businesses to benefit.

    * 10 MSMEs built so far, more hubs to be built, 240,000 jobs.

    * N1bn each made to big manufacturers at single digit interest rate.

    * To launch renewed hope housing estates, to create jobs and stimulate the economy.

    * Directed tariffs be removed on rice, other foods and medicines.

    * Distributed fertilizers.

    * To cultivate more than 10m hectares of land to raise food production.

    * Mechanized equipment on the way

    * A lot of work has gone on to stabilize the economy.

    * The Govt is working to improve National infrastructure.

    * Let nobody misinform you that the Govt does not care about you.

    * We are in a new era of renewed hope

    * The results will soon be feasible to see and feel and enjoy

    * The economy is recovering

    * Don't shut out the oxygen

    * Security agencies should continue to maintain peace and order within the human rights convention

    * Let's choose hope over fear, unity over division, progress over stagnation

    * Let no one use you to set us back
    Summary of President Tinubu's Nationwide Address: * Fuel subsidy removal is necessary. *Commiserates with victims' families over the death of their loved ones. * Urge protesters to stop the protest. * Economy remains anemic. * Bulk stops with him. * Aggregate revenue has doubled to N9.1trn in H1 2024. * Productivity gradually increasing in the non-oil sector. * Revenue to debt-service reduced to 68% in the last 13months from 97%. * Cleared legitimate $5bn forex backlogs. * Moves resulted in spending more money on Nigerians. *States are receiving record high monies ever. * Increased oil production to 1.6mbpd * Investors are coming back. * $500m foreign investment signed. * CNG launched, to reduce transport cost by 60%. * 1million conversion kits to be distributed at little or no cost. *To date, N45.6bn student loan processed to students and schools. * Established N200bn consumer credit scheme. * Ordered the release of N50bn each for NELFUND, Consumer credit from crime proceeds from EFCC. * Secured $620m for I-DICE for digital skills. * Introduced Skill-Up program * N570bn released to States for livelihoods support. * 600,000 nano businesses have benefitted from nano grants, additional 400k businesses to benefit. * 10 MSMEs built so far, more hubs to be built, 240,000 jobs. * N1bn each made to big manufacturers at single digit interest rate. * To launch renewed hope housing estates, to create jobs and stimulate the economy. * Directed tariffs be removed on rice, other foods and medicines. * Distributed fertilizers. * To cultivate more than 10m hectares of land to raise food production. * Mechanized equipment on the way * A lot of work has gone on to stabilize the economy. * The Govt is working to improve National infrastructure. * Let nobody misinform you that the Govt does not care about you. * We are in a new era of renewed hope * The results will soon be feasible to see and feel and enjoy * The economy is recovering * Don't shut out the oxygen * Security agencies should continue to maintain peace and order within the human rights convention * Let's choose hope over fear, unity over division, progress over stagnation * Let no one use you to set us back
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  • We’ll Remove All Obstacles Hindering MSMEs Growth – SMEDAN

    Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Charles Odii, says the agency is determined to remove all obstacles that are militating against the growth of Micro, Small and Medium Enterprises (MSMEs) in Nigeria.

    He stated this following a meeting with the President Bola Ahmed Tinubu at the presidential villa in Abuja, where he discussed the agency’s ‘GROW Nigerian’ strategy designed to offer SMEs essential guidance, resources, opportunities, and workforce support to thrive, a statement by the agency on Friday said.

    “SMEs are central to the president’s mission to eradicate poverty and ensure prosperity reaches all corners of Nigeria. His commitment was evident as we discussed SMEDAN’s GROW Nigerian strategy, which includes plans to create an enabling environment for over 40 million small businesses, collectively providing over 60 million jobs. We are not only going to protect them from inflationary pressures but also empower them to drive down such trends.” Odii said

    Speaking further, he added, “We will work with sister government agencies to streamline regulations and optimize them for growth and productivity. We will remove obstacles that hinder formalization and growth.”

    “With the strategy, SMEs will get affordable financing opportunities, access to lucrative domestic and international markets, tailored mentorship, and support to compete through capacity building for improved production standards.” the SMEDAN DG further explained.
    We’ll Remove All Obstacles Hindering MSMEs Growth – SMEDAN Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Charles Odii, says the agency is determined to remove all obstacles that are militating against the growth of Micro, Small and Medium Enterprises (MSMEs) in Nigeria. He stated this following a meeting with the President Bola Ahmed Tinubu at the presidential villa in Abuja, where he discussed the agency’s ‘GROW Nigerian’ strategy designed to offer SMEs essential guidance, resources, opportunities, and workforce support to thrive, a statement by the agency on Friday said. “SMEs are central to the president’s mission to eradicate poverty and ensure prosperity reaches all corners of Nigeria. His commitment was evident as we discussed SMEDAN’s GROW Nigerian strategy, which includes plans to create an enabling environment for over 40 million small businesses, collectively providing over 60 million jobs. We are not only going to protect them from inflationary pressures but also empower them to drive down such trends.” Odii said Speaking further, he added, “We will work with sister government agencies to streamline regulations and optimize them for growth and productivity. We will remove obstacles that hinder formalization and growth.” “With the strategy, SMEs will get affordable financing opportunities, access to lucrative domestic and international markets, tailored mentorship, and support to compete through capacity building for improved production standards.” the SMEDAN DG further explained.
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