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Tinubu Moves To Bring Peugeot, Dunlop Back To Nigeria
President Bola Ahmed Tinubu has given marching order to Nigerian Consumer Credit Corporation (CREDICORP) to ensure return of Peugeot Automobile and Dunlop tyre to the country as Nigeria joins nations with credit facility for the purchase of brand new automobiles.
Managing Director/ CEO of CREDICORP Engr. Uzoma Nwagba, confirmed Tinubu’s directive to his agency yesterday at the launch and signing of Memorandum of Understanding ( MoU) for N20 billion consumer credit fund for the purchase of locally assembled automobiles in Abuja between CREDICORP, NAMA and NADDC.
Nwagba said he had gone to brief the President on progress of the agency, with reference to N20 billion credit fund for purchase of locally assembled automobiles by Nigerians.
“The President told me: I want to see Peugeot, Dunlop and others come back to the country,” he quoted the president saying. He said CREDICORP was creating a scenario obtained in advanced countries where, people get car automobiles at a single – digit interest rate. CREDICORP for auto purchase will commence in January 2025.
Nwagba said his agency will engage automobile plants in the country working with the National Automotive Design and Development Council (NADDC), the Nigerian Automotive Manufacturers Association (NAMA) to drive down prices of vehicles at an affordable cost for Nigerians.
“We are trying to make the financing more available and more easily accessible. Meaning in terms of the rates also, to enable Nigerians have cheaper credits.
We work with financial institutions, and for this particular intervention, we are looking at going over time, targeting a single-digit rate to enable Nigerians to purchase these vehicles.
For people who have very strong credits, and who show a good credit history, the financial institutions are taking a bet and a confidence in them for those who are accessing our capital that we are providing, as well as those who are accessing our guarantees.
“We know that interest rates are quite high and is one of the discouraging factors and that is the economic reality of Nigeria; one that obviously makes it more difficult to access credit for mobility, is the high interest rates that we have now.
But given the mandate of Mr. President and his passion for enabling people to get cheaper credit to be able to access these life-enhancing goods, we are targeting lending on a single-digit interest rate. “But for now, you can see that our credit, enabling the banks and microfinance banks are the cheapest in the country.
So, it continues to go down as much as people show good credit history. And the fund that we are launching today is just a start. It’s a start to show a commitment to this industry. “It’s a start to show the commitment of the President.
And it’s a start to actually catalyse credits and allow people to access, get out of transport poverty. Transport poverty is a thing in Nigeria, where a lot of people, especially people in the cities, what you call the urban poor or urban middle class, struggle with access to good transportation,” he said.
Osun State Governor, Ademola Adeleke, has stepped in to call for immediate action in the case of Segun Olowookere, an indigene who was sentenced to death for stealing a fowl.
Recall Segun’s mother, Folashade Olowookere, emotionally shared the story of her son, who is currently imprisoned, during an interview on Nollywood actress Biola Adebayo’s YouTube podcast. The video gained significant attention, including from Governor Adeleke.
Naijablitznews reports this was contained in a statement from the Governor’s spokesperson, Olawale Rasheed, Adeleke directed a swift investigation and ordered that steps be taken for a potential pardon in Segun’s case. The Governor further instructed the Attorney General to ensure Segun is considered for the prerogative of mercy before the year ends.
The statement read, “I have reviewed the case and acknowledge the importance of the separation of powers in our democracy. In this instance, I have instructed the Commissioner for Justice to begin the process of granting mercy to this young man.
“Osun is a state of justice and fairness. We must uphold the protection of lives and ensure equity.
“I want to assure the public that this matter is receiving my personal attention, and we are acting with urgency as a responsible government.”
The Delta State House of Assembly, on Tuesday, recalled two of its members that were suspended in November over alleged gross misconduct.
The News Agency of Nigeria reports that the recall was announced during plenary in Asaba by the Speaker, Mr Dennis Guwor.
Recall that the Assembly had on November 6 suspended Mr Dafe Chukudi (PDP-Ukwuani) for 14 legislative days over alleged gross misconduct, while Mr Oboro Preyor (PDP-Bomadi) was also suspended for 14 legislative days for the same offense on November 12.
“Dear colleagues, following the allegation of gross misconduct against our suspended members and subsequently, a committee on investigation headed by the Deputy Speaker, Mr Arthur Akpowowo, was set up.
“The committee has commenced investigation. However, the 14 days that they were suspended has elapsed. And by the confidence you all reposed in me as the Speaker of the state House of Assembly, and now that the 14 days of their suspension has elapsed, there is need to recall Mr Dafe Chukudi and Mr Oboro Preyor to resume their duties as members going forward.
“The suspended members are hereby recalled pending on the outcome of their investigative committee.”
Meanwhile, the Deputy Speaker, Mr Arthur Akpowowo, expressed joy over the recall of the lawmakers, saying, “I am very happy that we have lifted their suspension.
“The Speaker has recalled them so that they can celebrate the Christmas with joy and even enter the New Year with some relief of happiness. For me, this is a party gift for me even though I’m not affected.”
By Gloria Ikibah
Ahead of President Bola Ahmed Tinubu’s presentation of the 2025 Appropriation Bill to a joint session of the Senate and House of Representatives at 12 noon today, there is tight security at the National Assembly Complex in Abuja.
As early as 6.00 a.m., operatives of the Department of State Security (DSS) and other security agencies, including the Police, Civil Defence, Federal Road Safety Corps, and Sergeant-at-Arms, were stationed at the gates and within the premises to ensure order and safety during the event.
Naijablitznews.com reports that staff of the National Assembly were directed to stay home, except those required for the event, who were instructed to report before 8.00 a.m., according to a memo issued by the Director of Human Resources and Staff Development.
Senators and House members were seen arriving at the Green Chamber, where the joint session is scheduled to take place. On Tuesday, during a closed-door plenary, the House of Representatives followed the tradition of moving a motion to allow non-members into the chamber for the session.
Naijablitznews.com recalled that the Federal Executive Council (FEC) approved an estimated expenditure of N47.96 trillion for the 2025 fiscal year during its meeting on Monday.
Meanwhile, business activities within the National Assembly complex, including banking and food services, have been suspended following directives from the Assembly’s management. Only those on an approved list, including staff, media personnel, and members of the press corps, are allowed access after identification at the gate.
The joint session will be presided over by Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abbas.
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