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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.
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Not Joke, I Will Seek For 3rd Term – Trump

US President Donald Trump has asserted that he is not jesting about his ambitions for a third presidential term, despite the constitutional restrictions in place.
While the U.S. Constitution prohibits any individual from serving more than two four-year terms, Trump indicated that it is premature to delve into such considerations.
Having assumed office for his second, non-consecutive term on January 20, Trump has hinted at his desire for a third term, addressing the matter more directly in a telephone conversation with NBC News.
“No, I’m not joking. I’m not joking,” Trump reiterated, though he acknowledged, “it is far too early to think about it.”
He hinted at potential avenues to pursue this goal without providing specific details.
According to the 22nd Amendment of the U.S. Constitution, U.S. presidents are limited to two terms, whether consecutive or not. To amend this constitutional provision would require a two-thirds majority in both houses of Congress, followed by ratification from three-fourths of the 50 state legislatures.
Some of Trump’s allies have suggested the feasibility of extending his stay in the White House beyond 2028. Trump himself has alluded to this notion on multiple occasions, often in a manner that challenges his political adversaries. Should he pursue another term after the November 2028 election, he would be 82 years old, having previously made history as the oldest president at the time of his inauguration.
The tradition of limiting presidential terms was established by George Washington in 1796. This practice was largely followed for over 140 years until Franklin D. Roosevelt broke the norm by winning a third term in 1940. Roosevelt, who led the nation through the Great Depression and World War II, sadly passed away during his fourth term in 1945, leading to the enactment of the term limits amendment in 1951.
Steve Bannon, a long-time adviser to Trump, expressed in a March 19 interview with NewsNation his belief that Trump will indeed run again in 2028. Bannon noted that he and others are exploring ways to facilitate this ambition, including reviewing the definition of term limits. “We’re working on it,” he stated, underscoring the ongoing discussions surrounding Trump’s political future.
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Sallah: Nigerian Traders Express Concerns Over Declining Sales

Traders in Lagos have voiced their concerns regarding the significant decline in food sales, particularly for pepper, attributing the downturn to rising prices and the diminished purchasing power of local residents.
In interviews conducted by the News Agency of Nigeria (NAN), both traders and consumers shared their experiences regarding patronage as the Sallah celebration approaches.
Mr. Rabiu Zuntu, Chairman of the Tomato Growers and Processors Association of Nigeria (Kaduna chapter), linked the situation to the heightened prices of produce and the weakened purchasing capacity of consumers. He stated, “Pepper prices in the north are also steep, with a jumbo 50kg bag reaching as high as N150,000, compared to N60,000 to N70,000 just months ago. This price surge may adversely affect the Sallah festivities, as only a few consumers may afford these products.”
Zuntu further explained, “Currently, we are outside the pepper farming season. Insufficient rainfall has led to a scarcity of this commodity, with only a handful of farmers involved in irrigation. Many will resort to using dried pepper, which is more affordable during this time, although demand remains low. We anticipate an increase in demand as the celebration nears.”
Mrs. Mistura Balogun, a pepper vendor at Lawanson Market in Surulere, echoed these sentiments, noting the unusually low customer turnout. “It’s not just pepper that has become expensive; many other goods have seen price increases as well. Typically, this time of year should see a bustling market, but today is quite different. I have been at my stall since morning, and the number of customers is minimal,” she lamented.
Similarly, Mrs. Mojisola Gbadegesin, another pepper seller at Idi-Araba market, reported a stark decrease in patronage. “Despite the high prices, we usually see customers buying pepper, but this year is different. The market feels deserted, and business is sluggish,” she remarked.
Mrs. Judith Amen, also a foodstuff vendor, highlighted that the rising prices of pepper and other food items are likely to escalate further as the celebrations peak. “At the start of the week, a small bag of scotch bonnet pepper was priced at N70,000, and I expect prices to soar over the weekend due to Sallah. A good quality bag of rice is selling for N85,000, while lower-quality options range from N60,000 to N75,000. Although patronage is currently low, we anticipate an uptick a day before Sallah, but consumers will only purchase what they can afford,” she explained.
Mr. John Nwabueze, a trader in the Agege area, expressed frustration over the lack of customers as Eid celebrations begin. “Sales have been notably low, with people buying only what their budgets allow. The market has been unusually quiet, affecting all commodities, including rice. A 50kg bag of rice is priced between N76,000 and N78,000, yet sales remain sluggish this Sallah,” he noted.
Mrs. Amina Fakunle, a resident of the Alimosho area, remarked that the high cost of pepper would lead consumers to celebrate in a more subdued manner. “Just six pieces of pepper cost about N500, which is the lowest price available. With these prices, people will likely opt for a low-key celebration,” she stated.
Mr. David Oriafo, a resident of the Dopemu area, also commented on the lack of festive activity in the market. “I managed to purchase a few items for my family to save costs, but it’s evident that the usual festive buzz is missing. People are only buying what they can afford, much like myself,” he shared. (NAN)
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Nigerian Boxer ‘Success’ Olanrewaju Dies After Ring Collapse

A Nigerian boxer, Segun “Success” Olanrewaju, has died after slumping during a boxing match in Ghana.
The Secretary-General of the Nigerian Boxing Board of Control (NBB of C), Remi Aboderin confirmed the death of the boxer on Sunday.
The 40-year-old boxer, nicknamed “Success”, stumbled to the canvas while fighting Jon Mbanugu, a Ghanian, at Fight Night 15 of the Ghana Professional Boxing League at Bukom Boxing Arena, Accra, on Saturday.
Olanrewaju was not punched or near his opponent when he collapsed violently in round three of the light-heavyweight bout.
The referee called the match immediately, and medical aid was ushered into the ring.
Olarenwaju died after he was rushed to Korle Bu Teaching Hospital.
Ther boxer was a former West African and national light-heavyweight champion.
He competed in 24 bouts with 13 wins, eight losses, and three draws.
In 2022, Chukwuemeka Igboanugo, another boxer, also died after suffering a technical knockout (TKO) in a bout at the National Sports Festival (NSF) in Delta.
Igboanugo died after he took a fatal blow to the nose and did not survive the hit.