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Economic downturn: Billionaires Dangote, Elumelu to lead private sector in Tinubu’s Economic Advisory Panel
By Emmanuel Agaji
Chairman of United Bank for Africa, Mr. Tony Elumelu, and the Chairman of Dangote Group, Aliko Dangote
President Bola Tinubu has created an economic advisory committee comprising the federal government, sub-nationals and the private sector.
This resulted from talks between the President and key stakeholders at the State House, Abuja, on Sunday evening.
The development came as the falling naira exchange rate, rising inflation and other economic headwinds have continued to worsen the cost of living crisis.
Some of the prominent members of the private sector that made the list include the Chairman of United Bank for Africa, Mr. Tony Elumelu, and the Chairman of Dangote Group, Aliko Dangote.
Speaking at the meeting on behalf of the federal government, Tinubu said the goal “is to provide additional efforts” in stabilising the economy and ensuring the “best economic future” for Nigerians.
He said, “Let’s look at what we’re doing right and what we’re doing wrong to bring life back to the economy. As I have said many times, the people of this country are only the people we have to please.
“And we are very much concerned from students to mothers and fathers, farmers, the traders and realising that everyone of us will have to fetch water from the same well. We’re looking for additional efforts that’s might help the downtrodden Nigerians and we will provide hope and reassurance that economic recovery is on its way.
“We are not saying that we have all the answers. But we will not be blamed for not trying. We assure Nigerians that we will do our best to get our marshall plan in place and fashion out the best economic future for this country.”
At the meeting, Tinubu discussed food security, job creation and the exchange rate.
Dangote, who was part of the private sector delegation on the committee, said Sunday’s gathering stakeholders the opportunity to clarify the specifics of their roles in President Tinubu’s Renewed Hope Agenda.
He explained, “I think we had a very good meeting. What we discussed is generally about the economy, food security and security of the nation. We discussed everything in detail.
“The economic presidential advisory committee which has been set up…will look at all the issues and address them, coming from job creation and food security.
“So, all these things have been discussed in detail. I can’t give you all the details right now, but we are hopeful and we’re a great nation. We have what it takes to turn around the economy and we’re going to do that.”
Meanwhile, Elumelu noted implementing the decisions made that the gathering “will have propel our economy and help alleviate the poverty in the land, help create employment and help put food on the table of Nigerians.”
The Chairman of the BUA Group, Abdul Samad Rabiu, revealed that the committee held frank and exhaustive discussions with the President on the foreign exchange rate.
Citing the recent volatility of the naira against the dollar, Rabiu said, “We discussed on how to bring the foreign exchange rate down because we all know that what is happening as regards the foreign exchange is artificial. It is manipulative and thank God the CBN is doing quite a lot.”
Meanwhile, states have expressed readiness to partner with the federal government’s welfare interventions to alleviate the hardship on Nigerians. They said the advisory committee’s decision would only yield results when execution is prioritised.
Governor Dapo Abiodun of Ogun State said, “As a governor, I can assure you that all hands on deck. All governors have resolved to join hands with Mr president to ensure that he provides the necessary intervention to cushion the effect of what we’re going through while we are waiting for the implementation and the evidence of the fiscal and monetary policies already in place.
“In my state and other states, we are bringing in rice, we’re bringing food items and selling at rates that can be obtained before the downslide of the naira. So we are going to be doing all these to bring succour to the common man until we begin to see the evidence of the fiscal and monetary policies.”
On his part, Governor Charles Soludo of Anambra State said the tripartite committee “will be meeting from time to time to evaluate how things are going and make recommendations to Mr. President and the nation as well.”
The Director-General of the Manufacturers Association of Nigeria, Mr Segun Ajayi-Kadir, affirmed that the private sector “will play a very significant role” in promulgating workable recommendations to the President on economic matters.
News
Masquerade wins in court in Akwa Ibom
A court in Akwa Ibom State has reportedly declared the arrest of a traditional worshipper, Mr. David Effiong known for performing as an Ekpo Masquerade unlawful, ruling that his detention violated his fundamental rights to freedom of religion and cultural expression.
According to the judgment, security operatives had arrested Effiong during an Ekpo masquerade outing, causing criticism from traditional worshippers who argued that Ekpo is a recognised aspect of indigenous faith practices in the state.
The court ordered Effiong’s immediate and unconditional release and directed the Akwa Ibom State Government to compensate him for damages arising from the violation of his human rights.
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Meta Suspends Activists For Showing Election Killings
Meta suspended the Instagram accounts of two Tanzanian activists on Thursday after they posted images of the violent crackdown by security forces on election protests, which authorities have tried to suppress.
Tanzania descended into violence on October 29, the day of elections deemed fraudulent by international observers.
More than 1,000 people were shot dead by security forces over several days of unrest, according to the opposition and rights groups, though the government has yet to give a final toll.
Mange Kimambi, who has more than 2.5 million Instagram followers, had been posting hundreds of photos of the dead and wounded since early November, sent to her by Tanzanians via WhatsApp, she told AFP last month from the United States.
Not all the images have been verified, but AFP fact checkers and other media and investigative sites have found many are real.
On Thursday, Kimambi, in a letter to US President Donald Trump published on X, complained that her Instagram accounts and WhatsApp number had been “deactivated after I raised awareness about a series of severe abuses and horrific events occurring in Tanzania”, including “kidnappings, killings and imprisonment of opposition leaders on fabricated treason charges”.
Another prominent Tanzanian activist, Maria Sarungi Tsehai, who lives in exile, also had her Instagram account suspended, though only within Tanzania.
“Check out @Meta @instagram and their role in enabling the cover up of #TanzaniaMassacre by restricting and deleting our Instagram and Whatsapp accounts,” Tsehai posted on X.
“This is a direct attack on human rights defenders! We work to save lives by whistleblowing about abductions, corruption and killings,” she added.
READ ALSO:Meta Cracks Down On Fake Accounts, Deletes 10 Million Profiles
Contacted by AFP, a spokesperson for Meta justified the action against Kimambi in the name of its “policy against recidivism”, implying she had created new accounts after others were suspended.
The action against Tsehai was a response to “a legal order from Tanzanian regulators”, the spokesperson said.
“If we are unable to provide our services there, millions of people will be deprived of connecting with family and friends,” Meta added.
In early November, Tanzania’s attorney general, Hamza Johari, called for Kimambi to be arrested and threatened to try to have her extradited from the United States, where she lives.
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Patient Accuses Ekiti Teaching Hospital Of Organ Harvesting
Management of the Ekiti State Teaching Hospital (EKSUTH) has commenced an investigation into an alleged organ harvesting levelled against it by a patient, Mr Joshua Afolayan, who had surgery recently in the facility.
Joshua had accused the Teaching Hospital of an alleged harvest of his kidney by medical doctors in the hospital.
Addressing a press conference in Ado Ekiti, Afolayan explained that he had an accident in August 2025, and after visiting the hospital, he was told that one of his kidneys was affected.
According to him, the results of multiple scans carried out, including at UCH, Ibadan, Oyo State, confirmed that the right kidney had been damaged but the left kidney was very fine.
However, during surgery to remove the faulty kidney so as to protect other organs, Afolayan confirmed that he still urinated five minutes before the surgery, but since the procedure in October, he has not been able to pass urine.
He noted that all efforts to get explanations from the hospital proved abortive, as they continued to play him around.
Afolayan added that on second thought, he decided to visit another facility for scanning, only to discover that he had been living without a kidney since the operation.
He called on the government to carry out a thorough investigation and save his life, as he has continued to live in pain.
However, disturbed by the development, the Chairman, Board of Management of the Teaching Hospital, Dr Adedamola Dada, constituted a seven-man panel of enquiry to look into the alleged case of kidney removal in the hospital.
A statement by Rolake Adewumi, Head, Corporate Affairs, EKSUTH, disclosed that the members of the panel included Prof. Francis Faduyile, an Anatomic Pathologist from the Lagos State University Teaching Hospital, Lagos, who will serve as the Chairman of the panel.
Other members included Prof. Patrick Temi Adegun of the Federal University, Oye Ekiti; Dr Henry Abiyere from Federal Teaching Hospital, Ido–Ekiti; Dr Adebola Adeniyi–Agbaje, General Manager, Progress F.M, Ado-Ekiti.
Others are Reverend Emmanuel Aribasoye, Chairman, Christian Association of Nigeria, Ekiti State branch; High Chief (Prof) Babatunde Akindele, the Elemo of Ado–Ekiti, a community leader; and Barr. Adebayo Titilayo, the Legal Adviser to Ekiti State Ministry of Health, who will serve as Secretary to the panel.
She said that the panel has ten days to submit its report, adding that the hospital management reassured the public that no stone would be left unturned to determine the issues involved in the matter.
“The Management noted that members of the panel are independent and responsible members of the community who would exhibit fairness and justice.
“All the affected parties and the general public were urged to cooperate with the panel as the findings are being awaited.”
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