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President Tinubu Endorse Renewed Hope Infrastructure Development Fund

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President Bola Tinubu has ushered in a new dawn for Nigeria’s development landscape with the approval of the Renewed Hope Infrastructure Development Fund.

This landmark initiative aims to revolutionise critical sectors, including agriculture, transportation, ports, aviation, energy, healthcare, and education.

Under the auspices of the Renewed Hope Infrastructure Development Fund, strategic national projects will receive vital investment. These projects are designed to spur economic growth, promote local value addition, generate employment opportunities, and stimulate technological innovation and exports.

The Fund’s objectives are multifaceted, aiming to establish an innovative infrastructure investment vehicle that consolidates capital for economic advancement.

Through strategic investment choices, it seeks to execute key national projects across various sectors, including road, rail, agriculture, ports, and aviation.

Efficient utilisation of accessible low-interest loans, concessionary loans, Eurobonds, and other favourable financing options will be prioritised. By securing optimal financing arrangements, Nigeria can ensure the long-term success of identified projects, fostering sustained national development.

The Fund will adopt diverse investment strategies, including direct project financing, co-financing through public-private partnerships, and equity investments.

These approaches will optimise resource allocation and enhance project delivery efficiency.

Addressing food security concerns, the Fund will focus on robust agricultural infrastructure development. This includes establishing national food storage facilities, irrigation systems, ranching for animal husbandry, and enhancing agricultural logistics and distribution networks.

To bolster Nigeria’s position as a regional trade hub, port facilities will undergo revitalisation. Modernisation efforts will streamline operations, attract investments, and improve efficiency through advanced monitoring systems and infrastructure upgrades.

Major airports nationwide will undergo revitalisation and modernisation to enhance operational efficiency and safety.

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Comprehensive refurbishments, terminal facility improvements, runway expansions, and technology integration will be prioritised.

Strategic road projects such as the Lagos-Calabar Coastal Road and Sokoto-Badagry Road will enhance connectivity and transport efficiency. These initiatives aim to stimulate economic growth and regional development.

The Fund will prioritise projects like the Lagos-Kano and Eastern rail lines to modernise transportation networks. This initiative seeks to foster interconnectivity between urban centres and facilitate efficient movement of goods and people.

President Tinubu has directed the absorption of the Presidential Infrastructure Development Fund into the Renewed Hope Infrastructure Development Fund.

This strategic move aims to eliminate bureaucratic bottlenecks and expedite project delivery for the benefit of all Nigerians.

Projects funded under the Renewed Hope Infrastructure Development Fund will ensure an equitable national spread. President Tinubu’s vision aims to positively impact every Nigerian, fostering qualitative development initiatives across the nation.

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

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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.

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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

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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.

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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

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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.

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