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Exchange Rate: Tinubu Explains Bold Decision
President Bola Ahmed Tinubu has explained his choice to unify exchange rates and reject arbitrage opportunities, highlighting his commitment to safeguarding the country’s financial stability.
President Bola Ahmed Tinubu has expressed his deliberate choice to unify the official and parallel market exchange rates, setting aside personal gains in favour of preserving the nation’s financial well-being. Speaking at a civic reception held in his honour by the Lagos State Government, President Tinubu emphasized his commitment to the best interests of the Nigerian people, paralleling his previous stance on fuel subsidy removal.
Decisive Actions For Financial Stability
According to President Tinubu, taking prompt and decisive actions during the early stages of his administration was imperative. Addressing the issue of fuel subsidy, he emphasized the necessity to curtail the financial bleeding and reiterated that the government had no alternative but to act swiftly. Furthermore, as a means to ensure the effective utilization of available resources, President Tinubu pledged to re-engineer the control and management of these resources, thereby fulfilling the obligations owed to the Nigerian people by political officeholders.
Re-engineering Resource Management For National Obligations
In the pursuit of efficient resource management, President Tinubu emphasized the need to meet the obligations owed to Nigerian citizens. To achieve this, the government aims to enhance the effectiveness of resource control and management. By implementing robust measures, President Tinubu intends to optimize the utilization of resources, ultimately benefiting the entire nation.
Building Partnerships For National Development
President Tinubu seized the opportunity to call for the collaboration of the governors present at the reception, emphasizing the significance of fostering even development across the country. Stressing an open-door policy, he expressed his determination to guide Nigeria towards a resilient economy. President Tinubu urged the governors to join forces with him in a united effort to rescue the nation and steer it towards transformation.
Gratitude And Commitment From Governors And Political Leaders
Acknowledging the reception organized by the Lagos State Government and the attendance of his friends and associates, President Tinubu conveyed his heartfelt appreciation.
He apologized to those friends in the audience who had longed to meet him but were unable to due to the demands of his office. He emphasized that the magnitude of the assignment required dedication beyond the confines of comfort, emphasizing the importance of prioritizing the responsibilities of his role.
Lagos State Governor Babajide Sanwo-Olu, expressing overwhelming joy, extended gratitude to God for the leadership of President Tinubu. Describing him as a competent manager of human and financial resources, Governor Sanwo-Olu praised President Tinubu’s ability to transform the economic fortunes of the country.
Kwara State Governor and Chairman of the Nigeria Governors’ Forum (NGF), Abdulrahman AbdulRazaq, pledged the collective cooperation of state chief executives, irrespective of party affiliations, to work alongside President Tinubu. The NGF expressed excitement over the fact that both the President and Vice President were alumni of the forum. They affirmed their support for a renewed hope agenda, emphasizing their commitment to work with a federalist leader within a truly federal system.
Senator Godswill Akpbio, speaking on behalf of the National Assembly, expressed gratitude to President Tinubu for his leadership in facilitating the smooth commencement of the 10th National Assembly. He assured the President of the Assembly’s unwavering support, promising to utilize all legislative means to ensure his success in achieving the nation’s goals.
Former Governor of Lagos, Mr Babatunde Fashola, who previously served as the Minister of Works and Housing, appealed to governors and Nigerians alike, emphasizing that the task of remaking Nigeria should not rest solely on the President’s shoulders. Fashola stressed the importance of replicating good governance practices across all 36 states, urging collective efforts towards national development.
Reflecting on the historical significance, Pa Tajudeen Olusi, the leader of the Lagos Governor’s Advisory Council (GAC), acknowledged the pivotal role played by Lagos in shaping the political landscape of Nigeria.
Olusi expressed gratitude that Nigeria finally had a President from Lagos, highlighting the state’s longstanding contribution to the nation’s political evolution since the era of Herbert Macaulay.
President Bola Ahmed Tinubu’s decision to unify exchange rates and reject arbitrage opportunities demonstrates his commitment to Nigeria’s financial stability and national interest.
Through decisive actions and resource management reforms, he aims to address critical issues and ensure the effective utilization of resources. With the support of governors, political leaders, and the National Assembly, President Tinubu envisions a collaborative effort towards transforming Nigeria into a resilient and prosperous nation. The reception organized by the Lagos State Government served as a platform to express gratitude and reinforce the collective commitment to national development.
Lere Olayinka, the Senior Special Assistant on New Media and Public Communications to Nyesom Wike, the former Governor of Rivers State and current Minister of the Federal Capital Territory (FCT), has responded to the recent appointment of Bashir Ojulari as the new Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.).
Olayinka took to X (formerly Twitter) to address discussions surrounding this leadership transition. His post aimed to clarify that President Bola Ahmed Tinubu did not dismiss Mele Kyari, a northerner, to replace him with a southerner, as some speculated. Instead, Olayinka pointed out that Ojulari, like Kyari, hails from the northern region of Nigeria.
According to Olayinka’s post on his official X account, he emphasised that Bashir Ojulari is from Kwara State, located in North Central Nigeria. Additionally, the new Board Chairman, Ahmadu Musa Kida, originates from Borno State in the North East.
His post stated: “Bashir Ojulari, the new NNPCL CEO, is a northerner from Kwara State, North Central Nigeria. The new Board Chairman, Ahmadu Musa Kida, is also a northerner, from Borno State, North East Nigeria.”
Olayinka’s statement came in response to narratives suggesting that the appointment was politically motivated to favour one region over another.
By Israel Bulus, Kaduna
The Middle Belt Forum (MBF) has strongly condemned the extrajudicial killing of 16 travelers in Uromi, Edo State, while warning against retaliatory violence targeting Southerners in Northern Nigeria.
In a press statement released on Tuesday, MBF Spokesman Luka Binniyat denounced inflammatory threats from individuals claiming to represent Northern interests in response to the killings.
Recalled that the victims, were allegedly armed hunters, traveling from Port Harcourt to Kano when they were attacked by a mob that accused them of being kidnappers.
“The MBF strongly condemns the unlawful killing of any Nigerian citizen, including those who lost their lives in Uromi,” the statement read. “However, we categorically reject any attempt to use this tragic incident as a pretext to unleash violence against Southerners residing in Northern Nigeria.”
The forum assured that the Middle Belt would not become a battleground for reprisals, emphasizing that it remains a safe haven for all law-abiding Nigerians. It urged community leaders and youths to remain vigilant and prevent any attempts to instigate violence, calling for anyone with such intentions to be handed over to authorities.
The MBF also reaffirmed its commitment to justice for all victims of violence across Nigeria. The statement highlighted the ongoing security challenges facing Middle Belt communities, citing persistent attacks by armed herdsmen with little government intervention.
” We hope that the swift response to the Uromi killings would serve as a precedent for broader action against criminal elements terrorizing the region.
“Thousands of our people remain in captivity, and vast portions of our land are still under the control of violent outlaws—primarily Fulani militants,” the statement noted.
“Justice must be served across the board.”
The MBF concluded by reiterating its support for the ongoing investigation into the Uromi incident and calling for a fair and decisive crackdown on all forms of criminality across the country.
BY ANKELI EMMANUEL, Sokoto
The Deputy Speaker, Sokoto State House of Assembly, Kabir Ibrahim kware, has commended governor Ahmed Aliyu for executing numerous developmental projects without taking loan from any financial institution.
Ibrahim Kware whp gave the commendation when he led other members of the State Assembly on Sallah homage to governor Aliyu, added that, the governor is very prudent in managing resources to achieve results.
“There was never a time you approached us with a request for permission to borrow money from any financial institutions whether at home or abroad,”he affirmed.
This , according to him, is worthy of commendation considering the myriad people- oriented projects the governor is executing across the state.
Speaking on behalf of the State’s Judiciary, Sokoto State Chief Judge, Justice Muhammad Sa’idu Sifawa, commended the governor for the construction of additional Court rooms at the State High Court.
Justice Sifawa also expressed delight over the way and manner the governor responds to issues affecting the Judiciary, which he said, is a clear testimony of the good working relationship existing between the three arms of government in the state.
Responding to the commendations, governor Ahmed Aliyu appealed for more synergy among the three tiers of government in the overall development of the state.
A statement by Abubakar Bawa, the Press Secretary to governor Alhmed Aliyu reaffirmed his principal’s unwavering commitment of the executive arm to providing the direly needed dividends of democracy to the people of the state,in line with his campaign promises.
The governor also urged lawmakers to present all the needs of their constituencies for prompt and diligent implementation.
“”I want to assure you that my doors are always open for you at any given time, to listen to the demands of your people.”
He reminded them on the need to put politics aside and work together with the executive arm for the progress and even development of the people they represent.
Turning to the members of the State Judiciary, the governor appealed to Judges and Khadis to ensure the quick dispensation of justice, so as to decongest the correctional centres.
“It is worrisome to see how inmates are languishing in correctional centres for minor offences in the name of awaiting trial.
“We recently appointed seven additional Judges and 7 Khadis, which is the first in the history of Sokoto State.
“The idea is to enhance the manpower in our Judiciary so as to speed up the dispensation of justice,” he added.
The governor further assured the members of the Judiciary of his administration’s readiness to ensure their welfare at all times.