The President of the Nigeria Labour Congress (NLC) Joe Ajaero, has alleged that President Bola Tinubu’s government did not save the sum of N1 trillion since fuel subsidy was removed.
Recall that Tinubu, during his national address on Monday, July 31, 2023, announced that the country had saved up the sum of N1 trillion in two months from the removal of fuel subsidy.
But Ajaero told journalists at the ingoing protest in Abuja on Wednesday that the government’s announcement was false.
“The committee we are working with said it’s a lie; the committee is headed by Gbajabiamila, secretary of the committee and special adviser to the president, Paul Nnaji, said no money was saved,” Ajaero declared.
“The director budget said no kobo was saved, and the president said he has saved N1trn, so who do we believe?
“So, if there is no transparency from both sides, then no money will be given to us or anyone, this is the kind of conflict we are currently having, so who is lying?”
Ajaero said Tinubu lamenting that people have stolen Nigerian’s wealth is not acceptable, stressing that he is a courageous man, who has the apparatus of the state for his disposal.
“The cabal in Nigeria wants everyone to buy PMS, so we can keep filling their pocket, despite the surplus availability of CNG in Nigeria, we have begged the FG to make it available for Nigerians, but they said no, that it will take a year and six months for them to convert, how will we survive before then, because people will die,” Ajaero said.
The NLC president reiterated: “We can’t talk about how long the strike we will embark on will last, but after today we will review the situation, the option of continuing this protest is open to us, we are not backing down now.”
UN has just given ECOWAS the Green Light to intervene militarily in Niger Republic, if within One Week, the new military administration in that Country does not restore presidential power to the ousted former president.
As I had anticipated, Burkina Faso and Mali have jointly warned that any attack on Niger will be deemed an attack on Mali & Burkina Faso and they will respond in any way they deem fit.
Now let’s unpack this. These emerging new military leaders on the west African coast are all allied to Russia, including CAR (Central African Republic) and one or two others. They’re not just allied by mouth. They have Russian military machine behind them. And that machine is as brutal as can get. You know this machine…It’s called Wagner PMC. Even the west admitted Wagner is the world’s most powerful private military contractor as of today. We see what they’ve done in Ukraine – to the point of becoming the first private military contractor to engage entire nations in Bahkmut for months and eventually won. Isn’t that why everyone who hated Russia cheered when they attempted to topple Putin’s regime in that failed, joke of a coup attempt? People, especially westerners actually believed they could do it because of their antecedents. That’s how powerful these guys are. That’s why they helped remove regimes in many African countries and they stay back to protect those regimes they helped bring to power.
Look at Sudan. That’s a British price. The British were not ready to let go easily, so they engaged the Wagner-leaning forces, probably hoping it’d be over in a little bit. Months later, those guys have continued to gain grounds, last I checked. In the same manner that Europeans are evacuating citizens from Niger right now, they evacuated from Sudan as well…and what that means is a full scale war is coming. But that war in Sudan still rages. That’s an African Union-centric war. It hasn’t gone any way.
My question now is, how well can ECOWAS and the UN do in this potential war against Niger, Mali and Burkina Faso, which of course is an extension of the war between Russia and the west, if you have followed this write up and my previous ones from the beginning? I mean, if they haven’t won the war in Ukraine, if they haven’t made any significant progress in Sudan (which is another Russia/west war), how much progress will they make here, given that these three nations and all their resources will now jointly be aimed at the UN-backed ECOWAS forces plus the Russian-Wagner fire force that hasn’t yet been defeated anywhere?
And going by my recent video, imagine when these countries decide to start targeting each of the ECOWAS countries involved in the attack, especially Nigeria that’s today heading the ECOWAS bloc.
I have a strong feeling that West AFRICA is about to be set on fire and my concern is very very deep. And the sad thing too is, it doesn’t look like there’s any way out, because if France doesn’t instigate this, it will loose more territories and it’s citizens who depend solely on African resources will continue to be impoverished and more riots will show up in France. And not just that, other African countries whose leaders are still loyal to the colonials may go the way of Mali, Burkina Faso and Niger in no time, which is a real concern for these leaders. On the other hand, if they go ahead with the military intervention, the repercussions could be greater than anyone can ever imagine, and for some reason, I feel like they’d prefer the later – despite the huge potentiality for an egregiously cataclysmic outcome. After all, it’ll be AFRICA against Africa – for non-Africans. So, Bottomline, I think war is coming. Question is, how prepared are we? Because it’ll likely spread beyond those three countries – Niger, Mali & Burkina Faso. And when or if it does come, remember that this is a continuation of the war between Russia & the west fought on African soil in the bloody quest for a #MultiPolar world.
Below is the final and comprehensive submission by Peter Obi Lawyers yesterday in Court of Appeal ;
The clerk has now called the case.
Peter Obi is now up with smiles all over: Respectfully my lord, I am Mr. Peter Obi for the petitioners
APC: With utmost humility, my lord, I am Saturday Monsignia for the 2nd Respondent.
Lead Counsel:
Labour Party and Peter Obi – SAN Livy Uzoukwu
INEC – SAN AB Mahmoud
Tinubu and Shettima – SAN Olanipekun
APC – SAN L.O Fagbemi
INEC’s lead counsel SAN AB Mahmoud is now up, and he’s suggesting the petitioners start first.
SAN Livy: They filed before we did, so they have to go first.
Justice Tsammani: AB Mahmoud, please let’s start.
SAN AB Mahmoud: Yes, my lord, my colleague will take it up from here.
Another INEC lawyer stands up to continue.
INEC: My lord, the 1st respondent written address was filed on 14th July 2023, and we also filed the reply of the point of law on 28 July 2023
Before I go on, I want to make a slight correction, my lord. On the 3rd line of the reply of point of law there’s “have” and it should be “do not have”
And after that I wish to adopt this my lord.
There’s now currently an adjustment on the 3rd line, and the judges are looking through.
Tinubu and Shettima’s lawyers are now up.
SAN Olanipekun: My lord, my colleague, will lead this proceeding for the 2nd respondent.
2nd respondent: We filed a response on 23rd July 2023. Upon receipt of the reply of the petitioners then it became pertinent to file our reply of point of law, which we did on the 27 July 2023, and we seek that my lordships strike out these petitioners request.
Thank you, my lord.
SAN Fagbemi is now up for APC
Fagbemi: We filed a reply on 23rd July 2023 and then we filed on point of law on receipt of the petitioners address and the point of law was filed on 27th of July and served on 28th of July.
We now seek to adopt this and reply on these due processes, and we urge my able lords to reject and discountenance those petitioners’ documents. Very much obliged, my lords.
SAN Livy is now up on his feet
SAN Livy: My lord, my learned colleague SAN Kalu will lead this case today.
SAN Kalu is now up on his feet
SAN Kalu: My lord, the reply was filed against the 1st respondents on the 14th of July, and with humility, I adopted these replies.
Justice Tsammani: Mention all your replies and adopt. You’re mixing the whole thing.
Let’s finish with the respondents’ objection and come to yours.
SAN Kalu: I am responding to the 1st respondent, my lord
Justice Tsammani: Respond to all at once
SAN Kalu: My lord it’s division of Labour. My learned colleague here is to handle the 2nd and 3rd respondents.
Justice Tsammani: No, we can’t allow that. You have to do it all at once.
Justice Ugo: I think your economics teacher was too thorough with the division of Labour
SAN Kalu: My lord, we just want to do it how it would be easier, but no problem.
Justice Tsammani: It’s even a coincidence, you’re from Abia State, and my Economics Teacher in Maiduguri was also from Abia
SAN Kalu: Then my lord, you should be paying me tithes
SAN Livy: My lord, Anichebe SAN would continue with the objections.
SAN Anichebe: My lord, the first objection was filed on the 23rd of July 2023.
Which is the objection filed against documents submitted by 1st respondents.
My lord, the objection filed by the petitioner against the 2nd and 3rd respondents was filed on the 20th of July 2023.
My lord, we respectfully adopt the arguments canvassed in 2 processes in opposition of the documents rendered by all the respondents, and we seek that you sustain our objections here, too.
Justice Tsammani: Please note that we would use 10 minutes each for adoptions and then 20 minutes each for oral submission of your final address.
SAN AB Mahmoud: Thank you, my lord. My lord on 14th July 2023 we filed our final address and then we filed the reply on 20th of July 2023 and these are the processes filed by the 1st respondent and we seek your humble permission to take our prayers and dismiss this petition as it lacks merit and should be dismissed by the court.
I will seek your indulgence to clarify.
On page 15 of our written address, we listed issues, and the first issue listed B has to do with the petioners’ complaints of noncompliance and other regulations and guidelines by the 1st respondent.
The technology introduced by the 1st respondent was misunderstood and misconstrued by the petitioners, and the purpose was not well understood.
What was introduced, cited by the petitioners, is on the BVAs, which was solely used for the authentication of voters and upload of results from the PU to the IREV portal.
The evidence before the court shows clearly that the 1st respondent went to great length to ensure that the technology functioned as designed.
The only points of disagreement are 2:
1. The petitioners have constructed in their mind that the electronic method be used to collate result and No evidence was presented to support this by the petitioners and the 1st respondent through its witness has certified that there is nothing like electronic collation but manual collation which was carried out impeccably.
There has been no electronic collation in any election in this country because it does not exist.
2. The petitioners claim this glitch was humanly done to give room for manipulation of election results, and no evidence was given by them to prove it.
We have brought evidence to show that this glitch is not unusual to technology, especially new technologies.
INEC: My lord, the allegation of the so-called 88,000 blurred results should be discarded because they do not in any way suggest that the original copies of the result sheets are also blurred. They have still not provided any form EC8A original copies from their agents to prove the 88,000 blurred results.
My lord, the petitioners brought up the 88,000 blurred issue just for dramatisation without evidence.
“The whole courtroom shouts ahhh”
The glitch which was for 4 hours 15 minutes did not affect the presidential election and there is no evidence of any manipulation of the result and I seek my lord to discountenance all statement of noncompliance from the petitioners.
Justice Ugo: This is a glitch, too
AB Mahmoud: Yes, even the courtroom has glitches
INEC: Now on the 25% of FCT is in relation to the interpretation of the constitution section 134 that candidates must score 25% on two-thirds of the state and the FCT, my lords, do not listen to approach that are not constitutional. FCT in accordance of 299 is to be taken as a State and nothing more, nothing less and not elevated to a status it does not hold or ascribe superiority as that has never been the intention of the constitution.
Justice Tsammani: Your time is up
AB Mahmoud: My time for my submission is up
“Everyone is laughing”
Justice Tsammani: Don’t worry. You still have more time on earth.
AB Mahmoud: I plead that this petition be dismissed. Thank you.
Tinubu and Shettima’s lawyer, SAN Olanipekun, is now up and starts with a banger:
O: My lord, let us take it that the petitioners have no case in this court, yes, because they don’t have a case here.
O: Look at exhibit X1, pages 22 and 23 of the decision at the Supreme Court states that this exhibit X1 settles the matter and it’s the case of APC Vs Labour Party and others and it’s very fresh from the oven.
Let me go to hype being made on FINE and let me draw your attention to section 137 1D of the constitution, and we have made submissions, and it says “he is under a statement of debt”
It’s simple grammar, he didn’t say was
It says he is under
It’s present tense, present continuous”
My lord, the law says 10 years after any offence is gone, so even though there is anything, the law has cleared it.
This is the constitution, and in secondary school, we were taught past tense and past participle and present tense.
My lord on 25% on FCT
Let me say this: Oh, bended knees (but he is still standing, oh)
My lord on bended knees (Baba you’re still standing, oh)
My lord FCT is like every other state. It is a state.
My lord, again the 1st petitioner has no locus standi because the constitution has taken him out of participating in any election rerun even if there’s going to be because the candidate must be the candidate who has the highest of vote and 1 among of the remaining candidates which is PDP which has the majority of votes in the states cast in the elections
He is not, so he can not even be in any rerun
Lastly, to show that he is not a member of Labour Party exhibit shows he can not run because he’s not a member, he can not push the 2nd person and claim 2nd.
Justice Tsamamni: But if you’re entering a bus in Lagos
“The whole courtroom is laughing”
APC lawyer is now up.
Fagbemi: My lord as simple as it is, I join my learned colleagues, SAN AB Mahmoud and my leader SAN Wole Olanipekun to say that this case should be quickly dismissed as it’s a waste of time.
This petition is ambitious (na wa oh, English)
This is the petitioners fourth coming on the case of electronic collation.
The first one was in Federal High Court here in Abuja and they abandoned it and ran to Lagos and that case lasted 8 days and they went to court of appeal and it was disastrous for them because they lost. We have presented this in exhibit X1.
Now they are here again about electronic collation.
It is a gross abuse of court time.
Fagbemi: If anyone wants to attack any result, there has to be a PU by PU allocation and proof because there was a glitch in PU A but none in B but the petitioners said there was no glitch in their own places they won and they should at least have their proof but have none and it is abysmally lacking in this case.
Now, on the issue of Rerun, it should be a 2 man race, and that is between the winner of the election and the runner-up, and that has nothing to do with the petitioner.
“APC are actively looking for a rerun, they now know there is nowhere to run to”
I thought you people said you won.
They don’t want Peter Obi and Labour Party on the ballot. That is their game now.
Fagbemi: My lord, so on disqualification, everyone can run in an election rerun as long as you’ve run in the election.
“Wait oh, it’s like someone has fainted oh”
Awww, one APC baby lawyer is having breathing problems, I hope she gets okay”
The court is waiting for them to take her out and give her the attention she needs. Hope she gets better.
Fagbemi: My lord, on the issue of forfeiture, the court already gave the 2nd respondent a clean bill of health on that.
Then on 25% of FCT, the constitution states 25 States of the federation even if the candidate scores 0 in FCT 25% in 25 States stands and there is no dispute that the 2nd respondent scored 25% in 29 States and to put FCT higher would amount to constitutional absurdity.
“One INEC lawyer just stood up and crossed over to pass a note to Fagbemi”
I don’t know if that is allowed.
Fagbemi: My lord on the glitches (Fagbemi started sounding like he was crying, and his voice became funny)
“Everyone started laughing while he was talking, and it was difficult to hear him.
One baby lawyer ran and gave him water”
Justice Ugo: It’s a voice glitch
“Everyone starts laughing”.
Fagbemi: Yes my lord, since time is up, let me say that INEC scored a high mark in this election at least 50% is a pass mark and INEC scored 90% which is more than enough of the petitioners are only complaining about glitch.
So my lord, I seek that this petition be thrown out.
SAN Livy is now up with the microphone: testing testing 123
SAN Livy: My lord, it is my submission that the respondents have laboured in vain to diminish this petition.
“Hmmmm”
SAN Livy: As the case of Oyetola Vs INEC where the Supreme Court said IREV is part of electoral process, my lords, I will seek your indulgence to refer you to paragraph 22 of the witness disposition of RW1 which all the respondents have preferred to ignore and I will like to further drag them out of their uncomfortable zone.
The witness, their own witness, said the authentic portal on which results can be accessed for review or determination of the election is the IREV Portal.
Now, they are saying that IREV is no more important.
An election where 88,000 blurred results were uploaded on this IREV is a flawed election.
Livy: My lord, INEC gave results to the petitioners to present in this court and 88,123 of those results were blurred and they were certified by the same INEC and some were even blank copies of A4 papers, certified and among them you have pictures certified by them, INEC and they want to say they conducted an election properly so called.
My lord, let me repeat myself.
Justice Tsammani: We have heard you
Livy: My lord, let me say this, it is my submission that a CERTIFIED TRUE COPY of a document MUST BE AN EXACT REPLICA OF THE ORIGINAL.
Must be, there is no choice, you cannot give us blurred CTC.
INEC can only have in its custody blurred blank result and not the original and so they have no basis as to what they used to declare that result, they only went to declare someone a winner and they don’t even have the original copies of results they certify because it could never have been any other thing apart from blurred sheets and pictures.
Fire on SAN
Livy: My lord, the 2nd respondent forfeited $460,000 on NARCOTICS. They don’t want to hear that, NARCOTICS
Livy: My lord they have been quoting section 137 1D they are trying to form a case for us and avoiding the main case, even when you focus on money laundering which was part of the crimes of the 2nd respondent, the NARCOTICS should not be ignored and the constitution is clear on such crimes.
Now on rerun my lord, let us be clear, the only candidate who comes clear for a rerun is the 1st petitioner according to section 131 3D and my lord, in the case of Awolowo and Shagari, of course the provision now was not available then in that case.
And let me quickly refer to what the lawyer of the 2nd respondent said that the petition has been abandoned and I can’t believe this came from a brother I know, petition that you spent time filing replies and you don’t even have replies to file is what you’re saying abandoned.
A petition where you don’t even have any witness.
Livy: My lord, I don’t want to spend time talking about FCT because the constitution is very clear on it, none of them even defined the meaning of AND.
I didn’t hear that from any of them whether disjunctive or otherwise and that would lead to manifest absurdity and they know so that is why they ignored that and did not urge my lord to interprete the AND as being disjunctive.
“The clerk rings the bell”
Livy: My lord, I’m replying 3 people, my time is not up
Livy: My lord, the petitioners have proved their case and to the issue of noncompliance from INEC they have no defence. They said because of toner, that’s why results CTC are blurred
4 months after was when they explained a 4 hours glitch, 4 months after.
Up unto 29th of May, they were still giving us blurred documents of election result, 4 months after elections, how can you reconcile the 2. It’s not possible.
Justice Tsammani: Your time is to
Livy: My lord, one more sentence
the petitioners have proved that there was no glitch whatsoever in this election.
May it please my lordship.
Justice Tsamamani: Okay, we will announce the date for judgement to you all.
Soldiers stand on guard during Nigerian President Muhammadu Buhari's visit to the Maimalari Barracks in Maiduguri on June 17, 2021. (Photo by Audu Marte / AFP) (Photo by AUDU MARTE/AFP via Getty Images)
General Abdourahmane Tchiani who declared himself as the new leader of Niger after a dramatic coup has appointed new governors for the 8 regions in the country.
Zagazola Makama, a counter-insurgency expert, posted a video in which the leader disclosed this on his verified Twitter handle on Wednesday.
The new governors and the regions they are to take charge of are Agadez – Brigade General Ibro Boulama; Dosso – Brigadier General Iro Oumarou; Diffa – Brigadier General Ibrahim Bagadoma; Niamey – Brigadier General Abdou Assouman Harouna; Tahoua – Major Colonel Oumarou Tawayé; Maradi – Inspector General of Police Issoufou Mamane; Tillabery – Lieutenant Colonel Maïna Boukar; Zinder – Colonel EF Labo Issoufou
The junta seized power last week and ousted democratically elected President Mohamed Bazoum.
One of the coup leaders, Army Colonel Amadou Abdramane, on state television, said that the authorisation was signed by Niger Foreign Affairs Minister Hassoumi Massoudou, acting as prime minister, Reuters reports.
Massoudou could not be reached for comment.
World leaders including France have condemned the coup and urged that Bazoum should be reinstated but they have not announced any intention to intervene militarily. Paris did not immediately respond to requests for comment either, according to Reuters.
The military junta, which has confined Bazoum to the presidential palace since Wednesday, has previously warned against foreign attempts to extract him, saying it would result in bloodshed and chaos.
The coup in Niger followed military takeovers in neighbouring Mali and Burkina Faso over the last two years, all of which have come amid a wave of anti-French sentiments.
France has had troops in the region for a decade helping to fight an Islamist insurgency, but some locals say they want the former colonial ruler to stop intervening in their affairs.
Meanwhile, the Republic of Guinea has warned the Economic Community of West African States (ECOWAS) chaired by Nigerian President, Bola Tinubu, against any planned sanction and military intervention against the military regime in the Republic of Niger.
Guinea issued the warning in a statement while expressing its solidarity with the Niger Republic, saying it would not participate in measures against Niger and that
sanctions against the military regime in Niger including military intervention are an option that cannot be a solution to the current problem but would lead to a human disaster whose consequences could go beyond the borders of Niger.
The National President of the Nigeria Labour Congress, Joe Ajaero alongside other officials of the labour centre have assembled at the Unity Fountain at Abuja for a “peaceful protest”.
The PUNCH reports that officials such as the National President of the Senior Staff Association of Nigerian Universities, Muhammed Ibrahim, representatives of the Academic Staff Union of Universities, National Union of Road Transport Workers among others are currently gathered at the location to protest the increment in fuel prices and failure of the President Bola Tinubu administration to reverse some of the policies which the NLC tagged “unfriendly” and “anti-poor.”
The Unity Fountain, located in the heart of Abuja has remained the starting point for major protests in Abuja over the years.
The #BringBackOurGirls protest which was organised in remembrance of the schoolgirls kidnapped from Chibok in Borno State was birthed at the venue.
Others such as the #EndSARS remembrance protests, and #RevolutionNow protests were also kickstarted at the same point.
As of the time of filing this report, the NLC and other protesters were still assembling and warming up for the task ahead.
President Bola Tinubu has approved the provision of buses to the students’ bodies of all universities, polytechnics and colleges of education across the country.
This was made known in a statement by the Special Adviser to the President on Special Duties, Communications & Strategy, Dele Alake on Monday.
The president said the move is aimed at easing the burden of the fuel subsidy removal on students of higher institutions of learning.
President Tinubu also directed the authorities in all Federal Institutions of higher learning to avoid arbitrary increase in sundry fees payable and, where possible, defer further increase so that parents and students don’t face too many difficulties.
In addition, President Tinubu has approved the removal of all restrictions on the students’ loan to make it available to any student or household that may desire it.
The statement added that the Federal Government salutes the courage, wisdom and partnership of Nigerian Students as our country navigates this challenging time.
The full statement reads:
In furtherance of his desire to ease the burden of the fuel subsidy removal on students of higher institutions of learning, President Bola Tinubu has approved provision of buses to the students’ bodies of all universities, polytechnics and colleges of education across the country.
The desire of the President is to see that students can access their campuses without much difficulty as a result of higher transportation costs.
The provision of the buses will also remove the burden of additional cost of daily commuting on parents and guardians.
In line with his promise to ensure no Nigerian student abandons his or her educational pursuits as a result of lack of money and economic circumstances of their parents, President Tinubu has also approved the removal of all restrictions on the students’ loan to make it available to any student or household that may desire it.
Similarly, President Tinubu has directed the authorities in all Federal Institutions of higher learning to avoid arbitrary increase in sundry fees payable and where possible defer further increase so that parents and students don’t face too many difficulties.
While it is important to reiterate that President Tinubu has directed release of over 200,000 Metric Tonnes of grains to families in 36 states and Federal Capital Territory, Abuja, the government is working to ensure that vulnerable students can also benefit from conditional cash transfers and food distribution.
The Federal Government salutes the courage, wisdom and partnership of Nigerian Students as our country navigates this challenging time.
President Tinubu will continue to prioritise education and the needs of the students, improve welfare of teaching and non-academic staff and invest in infrastructure to make our institutions of higher learning become more globally competitive.
Dele Alake Special Adviser to the President Special Duties, Communications & Strategy July 31, 2023
The National Security Adviser to President Bola Tinubu, Nuhu Ribadu, met with Governors from the five South-East states in Abuja behind closed doors on Monday.
Although the agenda of the closed-door session was not made known, there are speculations that it might not be unconnected to the worsening security challenges in Anambra, Enugu, Abia, Imo and Ebonyi states.
Last Wednesday that the Senate condemned the Monday sit-at-home in the South East geopolitical zone and asked the Federal Government to collaborate with the Finnish Government and extradite a pro-Biafran agitator, Simon Ekpa, for prosecution.
The upper chamber resolved to invite the Minister of Foreign Affairs (when appointed) and relevant stakeholders to conduct a thorough investigation and bring other sponsors of the act to book.
The Senate also rejected a recommendation for IPOB leader Nnamdi Kanu’s release, saying it would amount to sub judice as his release was still in court.
The illegal sit-at-home order is said to be enforced by a faction of the proscribed Indigenous People of Biafra (IPOB) in five South-East states.
The unconstitutional order was declared in 2021 to press home demands for the release of IPOB leader Nnamdi Kanu, who was detained by the Department of State Services (DSS) and prosecuted for terrorism-related charges.
TEXT OF THE NATIONAL BROADCAST BY PRESIDENT BOLA TINUBU TO NIGERIANS ON CURRENT ECONOMIC CHALLENGES.
AFTER DARKNESS COMES THE GLORIOUS DAWN
My fellow citizens,
I want to talk to you about our economy. It is important that you understand the reasons for the policy measures I have taken to combat the serious economic challenges this nation has long faced.
2. I am not going to talk in difficult terms by dwelling on economic jargon and concepts. I will speak in plain, clear language so that you know where I stand. More importantly, so that you see and hopefully will share my vision regarding the journey to a better, more productive economy for our beloved country.
3. For several years, I have consistently maintained the position that the fuel subsidy had to go. This once beneficial measure had outlived its usefulness. The subsidy cost us trillions of Naira yearly. Such a vast sum of money would have been better spent on public transportation, healthcare, schools, housing and even national security. Instead, it was being funneled into the deep pockets and lavish bank accounts of a select group of individuals.
4. This group had amassed so much wealth and power that they became a serious threat to the fairness of our economy and the integrity of our democratic governance. To be blunt, Nigeria could never become the society it was intended to be as long as such small, powerful yet unelected groups hold enormous influence over our political economy and the institutions that govern it.
5. The whims of the few should never hold dominant sway over the hopes and aspirations of the many. If we are to be a democracy, the people and not the power of money must be sovereign.
6. The preceding administration saw this looming danger as well. Indeed, it made no provision in the 2023 Appropriations for subsidy after June this year. Removal of this once helpful device that had transformed into a millstone around the country’s neck had become inevitable.
7. Also, the multiple exchange rate system that had been established became nothing but a highway of currency speculation. It diverted money that should have been used to create jobs, build factories and businesses for millions of people. Our national wealth was doled on favourable terms to a handful of people who have been made filthy rich simply by moving money from one hand to another. This too was extremely unfair.
8. It also compounded the threat that the illicit and mass accumulation of money posed to the future of our democratic system and its economy.
9. I had promised to reform the economy for the long-term good by fighting the major imbalances that had plagued our economy. Ending the subsidy and the preferential exchange rate system were key to this fight. This fight is to define the fate and future of our nation. Much is in the balance.
10. Thus, the defects in our economy immensely profited a tiny elite, the elite of the elite you might call them. As we moved to fight the flaws in the economy, the people who grow rich from them, predictably, will fight back through every means necessary.
11. Our economy is going through a tough patch and you are being hurt by it. The cost of fuel has gone up. Food and other prices have followed it. Households and businesses struggle. Things seem anxious and uncertain. I understand the hardship you face. I wish there were other ways. But there is not. If there were, I would have taken that route as I came here to help not hurt the people and nation that I love.
12. What I can offer in the immediate is to reduce the burden our current economic situation has imposed on all of us, most especially on businesses, the working class and the most vulnerable among us.
13. Already, the Federal Government is working closely with states and local governments to implement interventions that will cushion the pains of our people across socio-economic brackets.
14. Earlier this month, I signed four (4) Executive Orders in keeping with my electoral promise to address unfriendly fiscal policies and multiple taxes that are stifling the business environment. These Executive Orders on suspension and deferred commencement of some taxes will provide the necessary buffers and headroom to businesses in the manufacturing sector to continue to thrive and expand.
15. To strengthen the manufacturing sector, increase its capacity to expand and create good paying jobs, we are going to spend N75 billion between July 2023 and March 2024. Our objective is to fund 75 enterprises with great potential to kick-start a sustainable economic growth, accelerate structural transformation and improve productivity. Each of the 75 manufacturing enterprises will be able to access N1 Billion credit at 9% per annum with maximum of 60 months repayment for long term loans and 12 months for working capital.
16. Our administration recognises the importance of micro, small and medium-sized enterprises and the informal sector as drivers of growth. We are going to energise this very important sector with N125 billion.
17. Out of the sum, we will spend N50 billion on Conditional Grant to 1 million nano businesses between now and March 2024. Our target is to give N50,000 each to 1,300 nano business owners in each of the 774 local governments across the country.
18. Ultimately, this programme will further drive financial inclusion by onboarding beneficiaries into the formal banking system. In like manner, we will fund 100,000 MSMEs and start-ups with N75 billion. Under this scheme, each enterprise promoter will be able to get between N500,000 to N1million at 9% interest per annum and a repayment period of 36 months.
19. To further ensure that prices of food items remain affordable, we have had a multi-stakeholder engagement with various farmers’ associations and operators within the agricultural value chain.
20. In the short and immediate terms, we will ensure staple foods are available and affordable. To this end, I have ordered the release of 200,000 Metric Tonnes of grains from strategic reserves to households across the 36 states and FCT to moderate prices. We are also providing 225,000 metric tonnes of fertilizer, seedlings and other inputs to farmers who are committed to our food security agenda.
21. Our plan to support cultivation of 500,000 hectares of farmland and all-year-round farming practice remains on course. To be specific, N200 billion out of the N500 billion approved by the National Assembly will be disbursed as follows:
-Our administration will invest N50 billion each to cultivate 150,000 hectares of rice and maize.
-N50 billion each will also be earmarked to cultivate 100,000 hectares of wheat and cassava.
22. This expansive agricultural programme will be implemented targeting small-holder farmers and leveraging large-scale private sector players in the agric business with strong performance record.
23. In this regard, the expertise of Development Finance Institutions, commercial banks and microfinance banks will be tapped into to develop a viable and an appropriate transaction structure for all stakeholders.
24. Fellow Nigerians, I made a solemn pledge to work for you. How to improve your welfare and living condition is of paramount importance to me and it’s the only thing that keeps me up day and night.
25. It is in the light of this that I approved the Infrastructure Support Fund for the States. This new Infrastructure Fund will enable States to intervene and invest in critical areas and bring relief to many of the pain points as well as revamp our decaying healthcare and educational Infrastructure.
26. The fund will also bring improvements to rural access roads to ease evacuation of farm produce to markets. With the fund, our states will become more competitive and on a stronger financial footing to deliver economic prosperity to Nigerians.
27. Part of our programme is to roll out buses across the states and local governments for mass transit at a much more affordable rate. We have made provision to invest N100 billion between now and March 2024 to acquire 3000 units of 20-seater CNG-fuelled buses.
28. These buses will be shared to major transportation companies in the states, using the intensity of travel per capital. Participating transport companies will be able to access credit under this facility at 9% per annum with 60 months repayment period.
29. In the same vein, we are also working in collaboration with the Labour unions to introduce a new national minimum wage for workers. I want to tell our workers this: your salary review is coming.
30. Once we agree on the new minimum wage and general upward review, we will make budget provision for it for immediate implementation.
31. I want to use this opportunity to salute many private employers in the Organised Private Sector who have already implemented general salary review for employees.
32. Fellow Nigerians, this period may be hard on us and there is no doubt about it that it is tough on us. But I urge you all to look beyond the present temporary pains and aim at the larger picture. All of our good and helpful plans are in the works. More importantly, I know that they will work.
33. Sadly, there was an unavoidable lag between subsidy removal and these plans coming fully online. However, we are swiftly closing the time gap. I plead with you to please have faith in our ability to deliver and in our concern for your well-being.
34. We will get out of this turbulence. And, due to the measures we have taken, Nigeria will be better equipped and able to take advantage of the future that awaits her.
35. In a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters. That money will now be used more directly and more beneficially for you and your families.
36. For example, we shall fulfill our promise to make education more affordable to all and provide loans to higher education students who may need them. No Nigerian student will have to abandon his or her education because of lack of money.
37. Our commitment is to promote the greatest good for the greatest number of our people. On this principle, we shall never falter.
38. We are also monitoring the effects of the exchange rate and inflation on gasoline prices. If and when necessary, we will intervene.
39. I assure you my fellow country men and women that we are exiting the darkness to enter a new and glorious dawn.
40. Now, I must get back to work in order to make this vision come true.
41. Thank you all for listening and may God bless the Federal Republic of Nigeria.
The Super Falcons of Nigeria on Monday booked a spot in the round of 16 at the ongoing Women’s World Cup after playing a goalless draw against Republic of Ireland.
They advanced to the knockout stage with 5 points polled from two draws and one win.
The Falcons at the early minutes of the game endured pressure from the Irish captain, Katie McCabe who almost gave her side the lead when she attempted a low driving show that later jumped past the post.
In the 14th minute, Asisat Oshoala had the chance to put Nigeria in the lead after Kanu picked up a misplaced pass. which found the Barcelona forward, whose misplaced effort whistled past the left post.
With this result, Nigeria is set to meet their next opponent before the weekend.
The Labour Party of Nigeria has angrily lashed out on British owned Economist Intelligence Unit (EIU)—an appendage of The Economist Newspaper over its latest report that predicted that the presidential election petition tribunal will not sack President Bola Tinubu of the All Progressives Congress from office.
While reacting to the projection, Mr Onifade, head of Obi-Datti media office in a statement which a copy was made available to News Band described the projection as “A transactional work poorly done” by the APC to pre-empt the court.
Onifade who expressed disappointment over the report said that it is highly unbecoming for a reputable Newspaper like The-Economist to engage in such a counter-intuitive prediction.
Part of the statement reads, “The attention of the Obi-Datti Media office has been drawn to the Economist Intelligence Unit (EIU) political prediction on the eventual outcome of the 25 February presidential election, titled, “When Brigandage Meets Merchantalism.”
“We find the report as yet another transactional work poorly done. We are taken aback that after a long silence, it is most appalling that a highly reputed analytical entity will engage in such a counter-intuitive prediction.
““Every foreign and domestic observers’ report classified the election as egregiously flawed. Such contentions are sufficient grounds for the upturning of the election results by the Presidential Election Petition Court (PEPC) as sufficient evidence was provided to prove that the election was substantially flawed and did not meet the acceptable standard for a credible election.
“For the EIU to predict otherwise seems utterly self-serving, and scripted to meet the political needs and aspirations of APC, the possible facilitator of the report.
““This EIU prediction is beyond partisan; indeed it is most disturbing and unacceptable.
By this jaundiced report, the EIU via subterfuge is trying to pre-script a judicial outcome by front-loading its proffered narrative.
““It is clearly obvious that this EIU prediction is a paid-for-advert that canvasses the position of one party among many that vied for the presidential elections.
““Even though the EIU also referred to the APC reform agenda losing momentum, Nigerians are not deceived that such analysis is by any means altruistic, when clearly it is the other way round. It is very doubtful that the EIU would endorse the incredulous and shambolic conduct of INEC, had it happened within the United Kingdom or the European Union territory.
“Attempting to score cheap points with the passive mention of Mr. Tinubu’s low popularity at 37% of 27% voter turnout does not sufficiently capture the widely held view of proven election irregularities like never experienced in Nigeria’s history. Moreover, to opine that the Judiciary would do the unthinkable in the face of proven irregularities while it expects Mr. Tinubu’s reforms agenda to lose momentum, given his fast eroding low-level political capital, goes to show how much value the EIU places on Nigeria as a whole, along with its Judiciary. We reject such a damnable doctrine full of inconsistencies. While the EIU presumably might not mind ending up on the wrong side of events, we ask that it should henceforth endeavour to be impartial in its commentaries on Nigeria, or simply put up and shut up.
“Obi-Datti Media office sees this report as not in the interest of Nigeria and inconsequential to the outcome of cases before their Lordship because they are learned and wise enough to discern Jacob’s hand in Esau’s clothing.
“We, therefore wish to ask EIU to stop staking their reputations by trying to drink from a broken jar which the APc represents in Nigeria’s democracy and endeavour to be impartial in their commentaries and always strive to be on the right side of history and avoid aligning itself with illegal, corrupt and criminal tendencies that harm and destroy our humanity. We urge that it should henceforth endeavour to be impartial in its commentaries on Nigeria.”
