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Economic Hardship: Tinubu’s Govt Tenders Apology To Nigerians Over Their struggles
Amidst widespread economic challenges plaguing the nation, the Federal Government of Nigeria has issued a public apology for the hardships experienced by citizens.
Recognizing the pain and difficulties faced by Nigerians due to inflation and currency devaluation, the government expressed remorse while affirming the necessity of its policies to address underlying issues.
The apology came during a press conference held to mark President Tinubu’s one-year anniversary in office.
At the conference, the Minister of Budget and Economic Planning, Atiku Bagudu, conveyed the government’s acknowledgment of the adverse effects of its policies on the populace.
Bagudu clarified that the administration’s actions were driven by a commitment to implementing the “Renewed Hope Agenda,” a comprehensive strategy developed through meticulous analysis and consultation with stakeholders.
He said: “If we don’t make these decisions, we may continue to… because the experience of the nations we compete with, or aspire to emulate, shows that they made those decisions long ago and that they were important.
“To address our nation’s challenges, we are implementing the Renewed Hope Agenda, which focuses on macro-economic reforms. This is necessary because low investment, low revenues, and a shrinking economy have hindered progress in various sectors, including security, education, and social welfare. Without a macro-economic environment that stimulates investment and generates revenue, we cannot effectively address these issues.
“For example, we are currently unable to produce crude oil at the levels allowed by our OPEC quota due to underinvestment in physical infrastructure and security. By prioritising macro-economic reforms, we aim to create an environment conducive to investment and growth, enabling us to tackle the pressing challenges facing our nation.”
Despite the challenges, Bagudu reaffirmed the government’s commitment to mitigating the adverse effects of reforms, particularly through a comprehensive review of social investment programs to ensure they effectively serve the wider economy.
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Indian lawmaker dies after shooting himself
Indian lawmaker Gurpreet Gogi, a member of the Aam Aadmi Party (AAP), has tragically died after accidentally shooting himself. The incident reportedly occurred late on Friday night, resulting in fatal injuries to his head.
Gurpreet Gogi was immediately taken to Dayanand Medical College and Hospital in Ludhiana, where doctors confirmed his death upon arrival. The Punjab Police described the incident as an accident. Deputy Commissioner of Police (DCP) Jaskaran Singh Teja explained, “As per the family members, Gurpreet Gogi accidentally shot himself, resulting in bullet injuries to his head. He was declared dead at the hospital, and his body is now at the mortuary in DMC Hospital.”
The exact cause of death will be clarified after a post-mortem examination. “The post-mortem report will clarify the cause of death,” added the DCP. Authorities are continuing their investigation to understand the full details of the incident.
Gogi became a notable figure in Punjab politics after joining the AAP in 2022. He gained recognition when he defeated two-time Congress MLA Bharat Bhushan Ashu in the Ludhiana assembly elections.
This tragedy brings to mind a similar event in 2019, when a candidate for the Mississippi state legislature, Carl Robinson, fatally shot his wife before taking his own life.
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NASS To Presidency: Border Closure Not Effective
Federal lawmakers in both chambers of the National Assembly have expressed strong reservations about the effectiveness of border closure by the Federal Government.
Speaking at the Joint Committees on Industry, Trade and Investment on 2025 Budget Defence by the Trade Ministry, Senator representing Osun East, Senator Francis Adenigba Fadaunsi noted that the exit of Niger Republic and Chad from the Economic Community of West African States (ECOWAS) with the consequent opening of their borders to Nigerians are worsening the menace of insecurity across the affected states.
He said:” Border closure is hampering the economic fortunes of the country because rather than curb smuggling, it encourages it.
“For example on rice production alone, the largest percentage of 4 million tonnes shortfall is being smuggled into the country since local producers are only producing 3 million tonnes out of the expected consumption rate of 7 million tonnes.”
In her submission, House of Representatives member representing Nangero/ Potiskum Federal Constituency of Yobe State, Hon Fatima Talba, declared that the borders in her constituent were technically open, not closed.
“Going by free movement of people and even criminals across the borders, it is time for us, to stop fooling ourselves with border closure.”
Paul Kalejaiye representing Ajeromi / Ifelodun Federal Constituency of Lagos State in the House of Representatives, also spoke in similar vein.
“We need to even ask the question on the border policy being implemented. Are all borders across the Nation closed or those closed are from a segment of the country.”
The Committee later urged the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole who came for the budget defence session, to liaise with the Presidency on the way out of the border closure.
Oduwole had earlier in her presentation to the committee, said the sum of N3.8billion is earmarked for capital expenditure in the 2025 fiscal year, N4.65billion for personnel cost, N1.45billion for overhead and projected revenue of N2 4billion.
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Just in: Total darkness looms as National Grid collapses the 12th time
Again, the national grid has collapsed again making it a record eleventh blackout experienced by Nigerians.
A BusinessDay report quotes data obtained from the Nigerian System Operator’s portal (niggrid.org), as indicating that the collapse occurred at 1:56 p.m.
This incident follows a pattern of instability, with the grid suffering about 12 consecutive collapses in 2024,” the report says.
It adds that the cause of the latest failure is yet to be disclosed.
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