News
Tinubu Blows Hot, Says Nigerians Living Fake Good Life Before Fuel Subsidy Removal
President Bola Tinubu has said Nigerians were living a good life that was fake and capable of leading the country into a total economic collapse before his administration came on board to remove the fuel subsidy.
Tinubu had on May 29, 2023, on the day of his inauguration into office, announced the removal of the fuel subsidy.
The President explained that the need to salvage the future of the country and rescue it from the brink of collapse necessitated the strategic decisions to remove the controversial fuel subsidy and unify the exchange rates.
He spoke at the weekend during the 34th and 35th combined convocation ceremonies of the Federal University of Technology Akure (FUTA) in Ondo State.
The President, represented by the Vice Chancellor of the University of Ilorin, Professor Wahab Egbewole, said that his administration was not unaware of the consequences of the tough decision to remove the subsidy
“As you are all aware, we took the baton of authority at a time when our economy was nose-diving as a result of heavy debts from fuel and dollar subsidies.
“The subsidies were meant to support the poor and make life better for all Nigerians. We are all aware of the fact that the poor and average Nigerians were the sufferers of what was supposed to give them succor and improved standard of living.
“Unfortunately, the good life we thought we were living was a fake one that was capable of leading the country to a total collapse unless drastic efforts were urgently taken.
“The need to salvage the future of our children and bring the country back from the brink of collapse necessitated the strategic decisions to remove the fuel subsidy and also unify the exchange rates,” he said.
Tinubu, who further noted that the policy of the fuel subsidy removal was already yielding results, stated that the country’s economy was also improving daily.
According to the president, while Nigeria’s macro economy is improving beyond expectations, the micro-economic framework is gradually stabilizing by shaping the country from consumption-driven to production economy.
The President called on the graduands to join hands together with his administration “to recover our lost glory and virtues.”
He also condemned the mass exodus of the youths leaving the country to seek “proverbial greener pastures,” observing that their action has led to brain drain in all sectors of the nation’s economy.
“Many of our youths have chosen the supposed easy option of emigrating to the proverbial greener pastures where their citizens had rolled up their sleeves to bring their nations back from the brinks in their times of trouble.
“Our intellectuals and experts on whom the nation has massively invested huge resources to train in the interest of our country are migrating overseas in large numbers at a time their services are most required at home.
“It is heart-rending and the syndrome is not the solution to our problems. We are not Nigerians by accident, and I believe that the Almighty God who made us Nigerians has given us the required wisdom to turn things around for our betterment.
“The present challenges call for a high degree of patriotism and I can assure all Nigerians that there is light at the end of the tunnel. After rain comes sunshine. The brighter days are almost here. The Renewed Hope Agenda is on track and we shall not deviate on the path of better and greater Nigeria,” he said.
The Vice Chancellor of FUTA, Prof. Adenike Oladiji, said that there were a total of 6,405 graduates across nine schools of study from the combined 2022/2023 and 2023/2024 academic sessions convocation.
Oladiji said that 519 graduands had First Class, 3,408 got Second Class Upper; 2139 had Second Lower Class, while 339 graduands were in the Third Class category.
She said that the university’s mandate was to carry out adequate learning and teaching, with research works, for development of the society, adding that the institution had had landslide victory and achievements, cutting across human endeavours.
Mr. Sam Olumekun has taken over at the Independent National Electoral Commission (INEC) as Acting Chairman.
Olumekun is INEC’s National Commissioner in charge of Information and Voter Education.
He performed his first duties today, receiving a high-level delegation of the Labour Party (LP) at the Commission’s headquarters in Abuja with other National Commissioners in attendance.
The delegation was led by Abia State Governor Dr. Alex Otti, who visited the Commission to discuss key developments within the Labour Party.
It was gathered that both parties engaged in discussions centered on enhancing collaboration and reinforcing democratic values.
During the visit, Governor Otti formally presented a Certified True Copy of the recent Supreme Court judgment concerning the party’s leadership.
He noted that the meeting was aimed at fostering clarity, mutual understanding, and institutional alignment regarding the Labour Party’s current structure.
Mr. Olumekun, the Acting INEC Chairman, reaffirmed the Commission’s unwavering commitment to neutrality, transparency, and the rule of law in the discharge of its constitutional responsibilities.
Recall that a viral WhatsApp message had indicated that Prof. Mahmood was sacked by President Bola Tinubu and replaced with one Prof. Bashiru Olamilekan.
“INEC Chairman Prof. Mahmud Yakubu has been replaced with Prof. Bashiru Olamilekan by President Tinubu,” the message, which had no attribution, read. However, both INEC and the Presidency debunked the widespread report.
Yakubu, who is rounding off his second tenure in office, is expected to exit the system towards the end of this year.
The process of appointing an INEC chairman is the President nominating a candidate and forwarding his particulars to the Department of State Services (DSS) for profiling.
After such screening, the President, thereafter, takes the name to the National Council of State for its advisory review.
Based on the outcome, the President sends the name to the Senate for screening and confirmation.
Crude oil prices have dropped below $57, following a previous rate of $59.78.
This decline coincides with the imposition of tariffs on several countries by US President Donald Trump.
A report from West Texas Intermediate attributes this price slump to consistent 6% reductions observed last week.
JPMorgan Chase & Co has warned that these tariffs could likely push both the US and global economies into a recession this year.
The financial institution explained that the tariffs, set to take effect this week, are expected to have widespread economic repercussions.
Market analysts and the business community have expressed concerns about the negative implications of these measures, predicting a slowdown in economic activities and a subsequent decline in oil demand.
The military government of Niger has continued its efforts to cut ties with France.
In its latest move, it has officially designated Hausa as the country’s new national language.
Previously, French had served as the central and official language of the nation.
This new development was announced in a charter released on March 31 and published in a special edition of the government’s official journal.
According to the document, the national language is Hausa,” while “the working languages are English and French.”
Before this announcement, Hausa was already widely spoken in Niger, particularly in regions such as Zinder, Maradi, and Tahoua.
Out of the country’s estimated population of 26 million, the vast majority speak and understand Hausa.
In contrast, only around three million people— roughly 13 percent — can speak French.
The new charter also recognises nine other local languages, including Zarma-Songhay, Fula, Kanuri, Gourmanche, and Arabic, as “spoken languages of Niger.”
Additionally, the government has withdrawn from the Organisation Internationale de la Francophonie, a group similar to the Commonwealth that supports French-speaking nations.
In January, French President Emmanuel Macron criticised African leaders for what he described as a lack of gratitude.
Speaking about developments in the region, Macron said: “We had a relationship based on security — it was twofold. On one hand, it was our commitment to fighting terrorism since 2013. We were right, though I think someone forgot to say thank you. It’s okay, it will come with time.
“Ungratefulness, I know too well, is a disease that cannot be transmitted to men. But I say this for all African heads of state who have lacked courage in the face of public opinion.”
“None of them would be sovereign countries today if the French army hadn’t been deployed in the region. My heart goes out to all our soldiers, some of whom have given their lives and fought for years.”
“We did the right thing. We left because there were coups. We were there at the request of sovereign states who asked France to come.”
“From the moment there were coups and the people stated their objectives no longer involved fighting terrorism — or were unclear— France no longer had a place there.”
It’s worth recalling that in December 2023, Niger Republic officially expelled French troops from the country.
-
News20 hours agoOERAF held memorial lecture on conflict resolution, security/safety of community in Nigeria
-
News6 hours agoUS revokes more than 500 foreign student visas
-
News20 hours agoHoR Minority Caucus decries killings in Plateau, Benue states, urges immediate presidential decisive actions
-
News8 hours agoIbas picks administrators for 23 Rivers LGs(SEE list)
-
News12 hours agoBandits have seized control of 64 communities in Plateau – Gov Muftwang
-
Economy12 hours agoMobile Money transactions hit $1.68trn in one year
-
News5 hours agoBanditry:” I was chained for 32days while in their den, killed my wife as I watch-Nat’l Assembly DD narrates experience
-
News12 hours agoAir Peace unveils new process for boarding passengers