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US Economist Steve Hanke Slams President Tinubu Over Multi-Million-Dollar Jet Purchase Amid Hardship, Soaring Inflation

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
News
Putin Proposes Direct Ukraine Talks, Quiet On 30-Day Ceasefire

By Kayode Sanni-Arewa
Russian President Vladimir Putin on Sunday proposed direct negotiations in the coming days to end the conflict in Ukraine but did not address a 30-day ceasefire proposal drawn up hours earlier by European allies of Kyiv, reportedly with US backing.
Speaking at the Kremlin in the early hours of Sunday, Putin proposed direct talks with Ukraine in Istanbul on May 15 — hours after Kyiv and the leaders of France, Germany, Britain and Poland had called for an unconditional 30-day ceasefire to start on Monday.
“We propose to the Kyiv authorities to resume the talks that they broke off in 2022, and, I emphasise, without any preconditions,” Putin said.
Russian and Ukrainian negotiators held direct talks in Istanbul in the first weeks of the conflict, but failed to agree to halt the fighting, which has been raging ever since.
“We propose to start (negotiations) without delay on Thursday May 15 in Istanbul,” Putin said, adding that he would talk to Turkish President Recep Tayyip Erdogan soon to ask for his help to facilitate the talks.
Putin said he was “committed to serious negotiations with Ukraine” and that he wanted talks to “eliminate the root causes of the conflict and to establish a long-lasting peace”.
Russia’s references to the “root causes” of the conflict typically refer to grievances with Kyiv and the West that Moscow has put forward as justification for launching the offensive in February 2022.
‘Anti-Russian rhetoric’
“We do not exclude that during these talks we will be able to agree on some new ceasefire,” Putin said in the Kremlin address, attended by AFP.
But he also accused Ukraine’s Western backers of wanting to “continue war with Russia” and — without mentioning the specific Ukraine-European proposal for a 30-day ceasefire — slammed European “ultimatums” and “anti-Russian rhetoric”.
“A potentially great day for Russia and Ukraine!” US President Donald Trump posted on his Truth Social platform shortly afterwards, without specifying what he was referring to.
He vowed to “continue to work with both sides to make sure that it happens”.
But French President Emmanuel Macron, who hours earlier had met with German Chancellor Friedrich Merz, British Prime Minister Keir Starmer and Polish Prime Minister Donald Tusk in Kyiv in a symbolic show of support for Ukraine, warned that Putin was merely trying “to buy time”.
An unconditional ceasefire is not preceded by negotiations, by definition,” he told reporters as he stepped off a train in the Polish city of Przemysl on his return from Ukraine.
The European leaders, together with Ukrainian President Volodymyr Zelensky, had pressed Russia in the Kyiv meeting on Saturday to accept a 30-day unconditional ceasefire starting on Monday, threatening Moscow with new sanctions if it did not comply.
The United States and other countries back the proposal, they said.
“We have just now… decided to support a ceasefire which will begin next Monday, without any preconditions,” Macron told a press conference in Kyiv on Saturday.
The leaders also held a video conference with their counterparts from about 20 other member countries of the “coalition of the willing” supporting Ukraine.
“In the event of a violation of this ceasefire, we have agreed that massive sanctions will be prepared and coordinated between Europeans and Americans,” Macron said.
The United States and Ukraine have for weeks pushed a similar proposal, which Russia has not accepted.
Trump had threatened to walk out of talks over the lack of progress on ending the war, after vowing during the US election campaign to halt the conflict within a day of taking office.
Kyiv and its allies had feared that Trump was pivoting towards Moscow because he had clashed with Zelensky. But Trump has recently expressed growing impatience with Putin.
‘Absolute unity’
The UK’s Starmer said the Kyiv talks had led to “absolute unity across a whole range of countries around the world, including the United States, that there must be that 30-day unconditional ceasefire”.
The five leaders in Kyiv held a “fruitful” call with Trump to update him on the meeting, Ukrainian Foreign Minister Andriy Sybiga said.
“For the first time in a long time we had a feeling that the whole free world is truly united,” Poland’s Tusk said.
European Commission President Ursula von der Leyen also supported the truce that she said “must be implemented without pre-conditions to pave the way for meaningful peace negotiations”.
Macron said the ceasefire would be “mainly” monitored by the United States but that “Europeans will contribute”.
The symbolic show of European unity came a day after Putin struck a defiant tone at a Moscow parade marking 80 years since the defeat of Nazi Germany in World War II.
Putin had ordered a unilateral three-day truce from Thursday through to Saturday for the event. But a Ukrainian army brigade operating in the east told AFP the intensity of fighting had remained “pretty much the same”.
AFP
News
“I’m in pains, end wars in Gaza, Ukraine, Pope Leo XIV begs world leaders”

Pope Leo XIV has made a strong and emotional appeal for global peace, condemning the ongoing conflicts in Ukraine and Gaza while urging world leaders to end the violence and prioritise humanitarian efforts.
During his first-ever Regina Coeli address on Sunday, the new pontiff appeared at the window of the Apostolic Palace and spoke to thousands gathered in St Peter’s Square, as well as millions watching across the globe.
Echoing the legacy of his predecessor, Pope Francis, Pope Leo declared: “In today’s dramatic context of a third world war fought piecemeal… I too appeal to the powerful of the world by repeating these ever-relevant words: never again war!”
He began his message by referencing one of the deadliest periods in human history — the Second World War — which ended 80 years ago on 8 May.
He described it as an “immense tragedy” that caused the deaths of over 60 million people, using the historical moment to highlight the urgent need to prevent another global catastrophe.
Pope Leo XIV turned his attention to the modern theatres of war, starting with Ukraine, where the prolonged war with Russia has claimed thousands of lives and displaced millions.
I carry in my heart the suffering of the beloved Ukrainian people,” he said.
He urged that “every effort be made to reach a true, just, and lasting peace as soon as possible.”
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BANDITRY! Create state police now, northern govs, traditional rulers beg NASS

The Northern Governors’ Forum and the traditional rulers’ council in the region have reiterated their support for the creation of state police, with a call on the National Assembly to expedite action on the enactment of the legal framework for its take-off.
This was part of their resolutions at their joint meeting held at Sir Kashim Ibrahim Government House in Kaduna State on Saturday.
In a communiqué read by the chairman of the forum and Governor of Gombe State, Inuwa Yahaya, at the end of the meeting, the northern governors resolved to liaise with the Nigerian Governors Forum (NGF) to work out modalities of how to increase support to the federal security forces.
They also resolved to strengthen peculiar local initiatives in combating all forms of security challenges by setting up inter-state platforms to coordinate surveillance on their joint borders.
While they acknowledged the critical role of nonpartisan cooperation, collaboration, and peer review in effectively addressing the numerous developmental challenges confronting the northern region and the nation at large, the governors commended President Bola Tinubu for his sustained commitment to addressing the security challenges and infrastructural deficits in northern Nigeria.
Speaking earlier in his opening remark, Governor Yahaya stressed the need for collective action to drive the region’s development and tackle insecurity, just as he condemned the recent attacks and killings in Plateau, Benue, Bauchi, Borno, and Yobe states.
He therefore urged the Federal Government to review its security strategies, emphasizing the importance of collaboration between the federal, state, and local security architectures.
According to the Northern Governors’ Forum, the resurgence of Boko Haram activities in the northeast and violent killings in the north-central regions were major concerns that require immediate attention.
“We must work together to address the security challenges facing our region. It’s imperative that we enhance our security measures to protect our citizens and ensure their safety,” he said.
He commended President Tinubu’s commitment to Nigeria’s security while noting the need for more effective strategies.
Governor Yahaya also expressed concern over the state of infrastructure in northern Nigeria, citing neglected projects such as the Port Harcourt-Maiduguri rail line and the Kano-Maiduguri expressway.
The Kebbi governor advocated innovative financing options like public-private partnerships and infrastructure bonds to bridge the infrastructure gap.
In his remarks, Kaduna State Governor and chief host of the meeting, Uba Sani, commended Tinubu for his unwavering commitment to addressing infrastructural deficits in the north.
Sani praised Tinubu’s initiative to complete the Abuja-Kaduna-Zaria-Kano dual carriageway project.
“Mr President will go down in history as the leader who listened to the cries of the Northern people and took decisive action,” the governor said.
He noted that the road connected the Federal Capital Territory to 12 states in the North Central, North West, and North East zones, serving as a vital link between the south and north.
The governor emphasised the need for a roadmap to address security, peace, governance, and development issues in northern Nigeria.
“We don’t have the luxury of time. Our people want results,” he stressed, urging the development of an implementation and funding strategy to drive progress.
While welcoming his colleagues and traditional rulers to the meeting, he commended the chairman of the Gombe governor and the Sultan of Sokoto, Muhammad Sa’ad Abubakar, for their leadership.
“We have made progress on many fronts. But challenges remain. I urge us to hasten the development of a roadmap to address issues of security, peace, governance, and development in northern Nigeria. Additionally, we must follow up on the roadmap with an implementation and funding strategy. We don’t have the luxury of time. Our people want results.
“I must not conclude this welcome address without commending President Bola Ahmed Tinubu, GCFR, for his unwavering commitment to addressing the infrastructural deficits in northern Nigeria. One of Mr President’s key interventions in our region is the long-abandoned Abuja-Kaduna-Zaria-Kano dual carriageway. The road connects the Federal Capital Territory to about 12 states in the North Central, North West, and North East Zones.
“It serves as a vital link for travellers moving between the southern and northern parts of Nigeria. Mr President will go down in history as the leader who listened to the cries of the northern people and took decisive action. We owe Mr President a debt of gratitude,” he said.
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