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US Economist Steve Hanke Slams President Tinubu Over Multi-Million-Dollar Jet Purchase Amid Hardship, Soaring Inflation
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An American professor of applied economics at Johns Hopkins University, Steve Hanke, has criticised Nigerian President, Bola Tinubu for purchasing a new presidential jet amidst the country’s economic challenges.
Hanke’s criticism comes in light of Tinubu’s recent acquisition of a $150 million Airbus A330 private jet, which the Nigerian leader recently flew to France.
Hanke, known for his expertise in inflation analysis, described the current state of Nigeria’s economy as alarming, stating the country’s soaring inflation rate.
According to Hanke’s assertions, Nigeria’s inflation stands at a staggering 114% per year, far higher than the official figures, as stated on his X account on Tuesday.
Hanke labelled President Tinubu as “arrogant, ignorant, and incompetent,” criticising the Nigerian leader for prioritising luxury at a time when many Nigerians face economic hardship.
“Tinubu flaunted his new $100 million A330 private jet en route to France. Meanwhile, I accurately measure Nigeria’s inflation at a SHOCKING 114% per year,” Hanke stated.
President Tinubu last Monday embarked on a trip to France and returned on Friday, four days later.
This followed the recent release of the aircraft, which was one of the three presidential jets recently confiscated by a French court in favour of a Chinese firm over a dispute with Ogun State Government.
SaharaReporters recently reported that Zhongshan Fucheng Industrial Investment Co. Limited had announced the release of one of the three presidential aircraft belonging to Nigeria, which had been detained in France.
The Chinese company characterised the release of the aircraft as a goodwill gesture, citing the upcoming meeting between President Tinubu and French President Emmanuel Macron at the time.
The company stated that it recognised the significance of the aircraft for the diplomatic engagement and took steps to ensure its availability, thereby facilitating the meeting.
In July, SaharaReporters reported the aircraft was in France and had been spotted at an advanced stage of preparation. The plane had been assigned a tail registration featuring the seal of the President of the Federal Republic of Nigeria and was ready for delivery.
The aircraft in question is an ACJ330-200, VP-CAC (msn 1053), registered as 5N-FGA.
It features a bedroom with an en-suite bathroom at the front, followed by an office and a conference and dining room. It also has an airline-style first-class and economy seating at the rear.
https://x.com/steve_hanke/status/1828417178233672036
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Ekiti 2026: I have no political godfather, PDP guber candidate, Oluyede admits
The Peoples Democratic Party, PDP, governorship candidate in Ekiti State, Wole Oluyede, says he has no political godfather.
Featuring in an interview on ‘Politics Today’, a programme on Channels Television on Thursday, Oluyede said people of the state are his godfather.
He was speaking ahead of Saturday’s gubernatorial election in the state.
“The truth about it, is on record. Everybody knows that the godfather I have is the people themselves.
“The people have to believe in the hope that I have a record of investment in this state. In the history of this state, I’m the only person at this time trusting the state to think that we can invest in this state.
I have invested my money, my time, and my energy to say things can be different. I am very wary and suspicious of the fairness of the present police force in Ekiti.
“In situations where your supporters are being arrested for reasons that you don’t know and they can’t explain and when you have situations, on the other hand, where we have agents of the APC in my hometown attacking people with machetes and they are not arrested, then we need to question that,” he said.
News
EFCC Grills ‘Prophet’ Over Alleged N70.3m Fraud in Enugu
The Economic and Financial Crimes Commission (EFCC) has commenced an investigation into a self-acclaimed prophet, Godwin Sunday Ajuluchukwucheya, popularly known as Prophet Sunday Koboko, over allegations that he defrauded members of his ministry of more than N70 million through various purported spiritual and investment schemes.
The anti-graft agency disclosed this in a statement posted on its official X handle on Wednesday, June 17, stating that operatives of its Enugu Zonal Directorate are probing the activities of the cleric following multiple complaints from alleged victims.
According to the EFCC, one of the petitioners, Okey Uwakwe, accused the suspect of exploiting the trust of church members by presenting himself as a genuine man of God with supernatural powers.
Uwakwe alleged that the cleric collected N6.23 million from him for spiritual interventions aimed at persuading his brother, who had lived abroad since 1997, to return to Nigeria.
The petitioner further claimed that the prophet received another N3.25 million on the promise of helping his sister-in-law conceive after over 15 years of childlessness.
The EFCC said Uwakwe also alleged that Ajuluchukwucheya announced to members of his congregation that he had won a N33 billion lottery jackpot and encouraged them to make financial contributions with assurances that they would receive dividends from the winnings.
Based on that representation, the petitioner reportedly contributed N3.35 million.
In another alleged scheme, church members were reportedly invited to invest in a proposed rice processing venture said to be worth N1 billion. Uwakwe claimed he contributed N500,000 to the project.
According to the commission, the petitioner said he paid a total of N13.33 million to the cleric without receiving any of the promised benefits.
The EFCC said more members of the ministry subsequently came forward with similar allegations as investigations progressed.
One of the complainants alleged that the suspect convinced members to contribute money towards securing access to his purported N33 billion lottery winnings.
The victim claimed the cleric told congregants that the money could not be released because of spiritual opposition and urged them to purchase what he described as “holy ghost thunder” to overcome the challenge.
According to the witness, each “holy ghost thunder” item was sold for N38,000, while members were encouraged to buy as many as possible.
Investigators also alleged that the suspect marketed various spiritual products, including miracle stickers, spiritual dragons and holy ghost thunder, promising prosperity and solutions to personal challenges.
Another victim told investigators that despite making payments for the spiritual items, there was no improvement in his situation.
The EFCC said the total amount allegedly collected from members of the ministry stands at N70.39 million.
The commission added that investigations are ongoing and that the suspect will be charged to court upon their conclusion.
News
Okpebholo plans special court for kidnappers, vows to sign death warrant
Edo State Governor, Senator Monday Okpebholo, yesterday, issued a stern warning to kidnappers, cultists, and criminal elements operating within the state, declaring that anyone involved in kidnapping will face the full weight of the law, including possible execution by hanging once a new legislation is enacted to set up special court to carry out speedy trial of suspects.
The governor gave the warning while inspecting some of the suspected kidnappers being paraded, including those that abducted a housewife at the Vegetable Market, off airport Road in Benin City by the Edo State Commissioner of Police, Monday Agbonika at the Police Command Headquarters in Benin.
“We are proposing a special court to try kidnappers and cultists so that in a matter of weeks, they will be done with it and I will hesitate to sign the death warrant of any convict and such person will be paraded so that the people will see them and this I will not have any regret about, please don’t take my simplicity for granted.
“And I will sign it, the execution by hanging. I will take you to the roundabout, that is Ring Road roundabout so that the whole Edo people will see you. And this, I will not have any regret about it”, Okpebholo said.
The governor praised the swift response of security agencies, revealing that the suspects were apprehended within 24 hours after he personally contacted the Commissioner of Police regarding a kidnapping incident in the state.
According to him, the Commissioner of Police, who was in Abuja at the time, immediately returned to Benin City to coordinate operations that led to the arrest of the suspects.
“Before you know it, within 24 hours, those guys had been caught,” he said while displaying money allegedly linked to the criminal operation.
Okpebholo disclosed that during the operation an exchange involving gunfire occurred, leading to the death of one suspect while another was arrested and two others are at large.
Commending the efforts of the Nigeria Police Force and the Department of State Services (DSS), he dismissed claims that the government is not doing enough to combat insecurity.
“The police are working. The DSS are working. When people say the President is not doing anything, I wonder why they say so. The President is funding these agencies, and that is why we are getting results today,” he stated.
He maintained that kidnappers would find no safe haven in Edo State, noting that security forces have recorded significant successes in arresting criminal suspects across the state.
“There will be no crime committed in this state where the offender will not be arrested. Whoever is supporting these criminals should stop because we are ready for them. We are not joking, and we are not sleeping,” he warned.
He further warned young people to stay away from cultism and kidnapping, stressing that crime ultimately destroys lives rather than improving them.
“It is cheaper for you to maintain your standard of living than to go into kidnapping. When you kidnap, whatever you had before, you will lose it, and at the same time, you may lose your life,” he said.
The governor reaffirmed his administration’s commitment to ensuring the safety of lives and property across Edo State and vowed to sustain the crackdown on criminal activities.
He later rewarded the Special Security Squad that arrested the kidnappers of the housewife with N10 million. The housewife has since been rescued.
On his part, the Commissioner of Police, Monday Agbonika, commended the officers and men of the command and other security agencies for their timely responses that have led to the successes being recorded.
“And I must also commend, finally, the executive governor of Edo State, Senator Monday Okpebholo who has been very courageous in the fight against kidnapping and the fight against courtism in the state.
“I think what we are doing here, the kind of synergy we have between the police and the military and other agencies, including the informal policing sectors, I think it’s something that is worth emulating by other commands.
“We are working here so very well that you can’t even tell one agency from the other.
“The DSS, it gives us information as I tell you, and whenever we need backup, we also get area backup with support of the Inspector General Police.
“So these are all the issues and the supports that we have been getting that has made it possible for us to record the successes of our credit”, Agbonika said.
He cautioned against the spread of fake news which led to the panic relating to the alleged invasion of schools by suspected kidnappers,saying such acts and self kidnapping which he said was becoming an issue in the state have legal implications.
“Let me use this opportunity to warn the public that we have been having very serious concerns about fake news. Just this morning, there were information that some schools were being attacked in different parts of the state and when we conducted our enquiries, we found out that they were all fake news even though before then proactively we have deployed men to those areas and that was why we were able to find out very quickly that the information was not correct. It got to a point that parents were going to withdraw their children from these schools, people must desist from this.
“The issue of self-kidnapping is also rearing its ugly head in the state and I want to warn members of the public that these are crimes that are punishable by the law, they must cross check their information before they repost because these information will not go viral if they are not reposted by others”, Agbonika stated.
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