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Tinubu’s Economic Reforms Receive Thumbs Up Despite Short-Term Pains

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2 months ago

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The economic reforms implemented by President Bola Ahmed Tinubu have been praised for being on the right track, despite the temporary hardships they have caused.

According to Dr. Opialu Opialu, who spoke at a one-day intellectual discourse on the state of the economy and the Renewed Hope Agenda, the reforms are necessary for Nigeria’s development and will ultimately lead to prosperity.

The event, which was organised by the Beyond Boundaries Legacy Leadership Initiative (BBLLI) in collaboration with the Civic Centre on Economic Reforms, Policies, and Planning, brought together experts and stakeholders to discuss the theme “Between Austerity and Prosperity: Nigeria Yesterday, Today, and Tomorrow.”

Opialu, who assessed the economic reforms of President Tinubu, highlighted the country’s past, present, and future, noting that Nigeria was once a rich nation but became poor due to mismanagement and lack of planning.

However, with President Tinubu’s Renewed Hope Agenda, he said the country is taking bold steps to introduce reforms and recover from its past mistakes.

Opialu said President Tinubu’s administration has implemented several key reforms, including the removal of subsidies on premium motor spirit, exchange rate unification, and a review of the Electricity Act.

These reforms, according to him, have been complemented by public sector reforms, a review of solid mineral policies, and the introduction of a student loan scheme.

While these reforms have caused short-term pains, such as inflation, a reduction in disposable income, and a high cost of living, Opialu noted that the gains will far outweigh the pains in the long run.

Opialu also highlighted the medium-term effects of the policies, which include a reduction in the pump price of premium motor spirit, the introduction of the Presidential Initiative on Compressed Natural Gas, and an increase in foreign reserves.

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Additionally, the reforms have attracted over $30 billion in foreign direct investment and have led to improved security and a drastic reduction in the spate of insecurity.

Opialu concluded that the economic reforms of President Tinubu are timely and welcome and that the government should do more to educate Nigerians on the reforms and their effects. This will help to prepare the minds of the masses for the need to make temporary sacrifices for the sake of long-term prosperity.

“The economic reforms of President Bola Ahmed Tinubu are on the right trajectory notwithstanding the temporary hardship,” he said.  “It is a price we all have to accept for the Nigeria of our dreams. The most equipped generation to carry this cross is ours and the time to do it is now.

“It is my view that the various reforms are timely and welcome and that the Government should do more through the appropriate agency to educate Nigerians on the reforms, its effects, both the good and the not too palatable ones, so as to prepare the minds of the masses to the need to fast before feasting”.

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Labour Party: LPPMC hails Supreme Court victory for Sen. Nenadi Usman, calls for unity 

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7 hours ago

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April 5, 2025

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By Amos Tauna, Kaduna

The Liberal Progressive and Patriotic Members Congress (LPPMC), has expressed its full solidarity with Senator Nenadi Usman, the National chairperson of Labour Party National Caretaker Committee, and the NLC Political Committee on the landmark Supreme Court judgment that overturned earlier rulings of the High Court and Court of Appeal that erroneously affirmed Barr. Julius Abure as National Chairman of the Labour Party.

Dr. Kingsley Okundaye, National Coordinator of

Liberal Progressive and Patriotic Members Congress (LPPMC), in a statement said, “We call on all Nigerians to seize this moment to see it as a stepping stone toward reclaiming their country. The journey to a New Nigeria where leaders are accountable, institutions work, and citizens thrive, demands our collective resolve.”

According to him, the apex court’s resounding vindication of Senator Usman’s principled legal battle marks a pivotal triumph for democracy, internal party justice, and the collective aspirations of Nigerians yearning for credible leadership.

The LPPMC applauds Senator Nenadi Usman’s unwavering courage in pursuing the case to its logical conclusion, saying that her doggedness in challenging flawed judgments through the judicial hierarchy has not only restored integrity to the Labour Party’s leadership but has also reaffirmed the judiciary’s role as the last hope of the common man.

He stated, “By declaring her appeal meritorious, the Supreme Court has validated her steadfast commitment to due process, rule of law, and the ideals of transparency that underpin the New Nigeria project.”

The statement added, “This judgment is a clarion call to all progressive forces to unite under Senator Usman’s leadership. It is a historic opportunity to rebuild the Labour Party as a credible vehicle for rescuing Nigeria from the clutches of bad governance, economic collapse, and systemic corruption.”

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Okundaye urged all LPPMC members nationwide, Labour Party stakeholders, the NLC, and the Obidient movement to rally behind Senator Nenadi Usman’s caretaker committee, advising that it is not the time for division but for solidarity to consolidate the hard-won victory.

 

He called alls for collaborative action to implement reforms, promote inclusivity, and position the Labour Party as the authentic voice of the masses.

According to him, “The Supreme Court’s judgment is a testament to Senator Usman’s resilience, the NLC Political Committee’s solidarity, and the righteousness of our collective cause. This victory belongs to every Nigerian who believes in the rule of law and the possibility of a functional nation. Let us unite under her leadership to transform this legal triumph into a political revolution that upends bad governance.”

 

The LPPMC said it recognizes the role played by the Nigeria Labour Congress (NLC) Political Committee in the struggle, stressing that their relentless advocacy, mobilization of workers, and unwavering solidarity with Senator Usman’s cause were instrumental in sustaining pressure for justice.

“The NLC’s commitment to reclaiming the Labour Party as a vehicle for progressive governance aligns with the LPPMC’s vision of a nation where institutions serve the people, not vested interests,” the statement explained.

 

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Accident claims 7 lives on Lagos-Ibadan expressway

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9 hours ago

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April 5, 2025

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No fewer than seven persons died in an early morning accident at NIPCO filling station axis on the Lagos-Ibadan expressway on Saturday.

The Spokesperson, Federal Road Safety Corps (FRSC) in Ogun, Mrs Florence Okpe, confirmed the incident in a statement in Abeokuta.

Okpe stated that the crash, which occurred at 7:00a.m., involved a Mack truck marked SEY 363 YY, a tanker with registration number T2900LA and a bus marked LSD 180 YA.

The FRSC spokesperson said that 15 people were involved in the accident, comprising 13 men and two women, adding that four persons were injured while seven people died.

She said that the accident occurred due to speed and loss of control by the driver of the Mack truck, which rammed into the two other vehicles.

” The injured victims were taken to Divine Touch Hospital and Glory Center Hospital, Ibafo, while the deceased were taken to Idera morgue Sagamu,” she said.

The Sector Commander, Mr Akinwumi Fasakin sympathised with the families of the crash victims.

He urged those whose family members were on the road early in the morning, but had still not arrived their destination to contact FRSC for more information. (NAN)

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Navy confiscates vessels carrying illicit arms, crude oil in Niger Delta

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9 hours ago

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April 5, 2025

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The Nigerian Navy has apprehended some vessels carrying illicit arms and stolen crude oil and destroyed several illegal refining sites through its Operation Delta Sanity II in the month of March.

The Director of Naval Information, Commodore Aiwuyor Adams-Aliu, made this known in a statement on Saturday in Abuja.

Adams-Aliu said the troops had on March 7, uncovered and destroyed an illegal refinery site laden with about 5,500 litres of stolen crude oil, and 2,000 litres of illegally refined Automotive Gas Oil (AGO), at Oteghele community in Warri, South-West Local Government Area of Delta.

He said the site also contained one oven, nine dugout pits, 15 polythene sacks of illegally refined AGO, 13 sacks of stolen crude oil, and one pumping machine.

He added that a big wooden boat laden with 40,000 litres of crude oil was seized around Okrika and Ogajama general area in Rivers on March 8.

“On March 9, a seagoing vessel, MFT Olokun VIII with IMO Registration N0: 8778275 was arrested around Saint Nicholas River in Bayelsa, with illegal arms and ammunition onboard.

“The arms included one G3 Rifle, one pump action gun, 20 rounds of 762/51mm ammunition and seven live cartridges.

“Two suspects linked to the illegal firearms were also arrested and will face prosecution,” he said.

The naval spokesman said the troops had on March 10, discovered and deactivated three illegal refinery sites, with three ovens, seven dugout pits, and eight sacks with 3,700 litres of crude oil around Obodo Omadino in Warri, South-West Local Government Area, Delta.

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He added that 23 polythene sacks with 1,900 litres of illegally refined AGO was also discovered at the site.

According to him, a vandalised wellhead, eight illegal refinery sites, 55 ovens, 12 reservoirs and 30 dugout pits with about 55,000 litres of stolen crude oil and about 4,000 litres of illegally refined AGO were discovered and seized around Ohaji/Egbema West in Rivers on March 13.

“On March 14, two wooden boats laden with over 5,000 litres of stolen crude oil, and two drums were seized along Dodo River in Ekeremor Local Government Area of Bayelsa.

“On March 15, a fibre boat laden with 1000 litres of stolen crude oil was seized around Bille/Krakrama waterways in Rivers.

On March 17, three Illegal Refinery Sites, two ovens, 10 dugout pits, three sacks with about 2,700 litres of stolen crude oil and 18 polythene sacks of about 1,900 litres of illegally refined AGO were discovered and deactivated around Obodo Omadino in Warri, South-West Local Government Area of Delta.

“On March 20, two wooden boats actively siphoning crude oil from a wellhead, two drums of stolen crude oil and one cooking oven were discovered and seized around Clough creek and Dodo river in Ekeremor Local Government Area of Bayelsa.

“On March 23, two illegal refining sites, 2 ovens, 10 dugout pits, 13 polythene sacks, three drums, with 2,700 litres of stolen crude oil and 2,200 litres of illegally refined AGO were seized around Oteghele, Obodo Omadino general area,” he added.

Adams-Aliu said the troops also seized a wooden boat laden with 1500 litres of crude oil was around Bille and Krakrama creeks in Rivers and another boat with about 100,000 litres of crude oil was around Egbessan oilfield, Ilaje Local Government Area of Ondo State.

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According to him, a wooden boat laden with 30,000 litres of illegally refined PMS was seized at Okirika axis in Rivers.

He said the troops had on March 27, uncovered and deactivated a suspected cultist/kidnappers camp, four vandalised wellheads, eight illegal refining sites containing 40 ovens, 30 reservoirs, 50 dugout pits, with about 70,000 litres crude oil, 25,000 litres of illegally refined AGO, and 15,000 litres of illegally refined kerosene.

He added that a storage facility with 15 jerrycans (30 litres) of illegally refined AGO was discovered around Bigimi, Ilaje Local Government Area of Ondo State, among others during the month.

“The Chief of Naval Staff, Vice Adm. Emmanuel Ogalla, hereby reiterates that the Nigerian Navy ,will continue to intensify its operations in support of Nigeria’s economic activities, particularly the mandate to improve crude oil production as directed by President Bola Tinubu,” he said. (NAN)

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