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Tinubu @73: Deputy Speaker, Kalu Hails President Tinubu’s Bold Economic Reforms

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By Gloria Ikibah

The Deputy Speaker, House of Representatives, Rep. Benjamin Kalu, has congratulated President Bola Ahmed Tinubu on his 73rd birthday, praising his courageous decisions that have saved Nigeria from economic collapse.

Kalu specifically highlighted President Tinubu’s removal of the fuel subsidy, which he described as a “whited sepulchre” that had deceptively appeared economical on the surface but was, in reality, draining the country’s resources.

He emphasized that this bold move served as the crucial catalyst that jump-started Nigeria’s economy.

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The Deputy Speaker noted that the President’s courageous decision has crystalized Nigeria’s economic prospects, paving the way for sustainable growth and development.

Kalu also commended President Tinubu’s efforts to develop the geopolitical zones in Nigeria through the creation of regional development commissions.

He believes that the initiative will meet the infrastructure needs of the people and foster economic prosperity and social cohesion.

While acknowledging the current hardship in the country however, Kalu urged Nigerians to be patient, assuring that better days lie ahead as President Tinubu’s economic policies mature.

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He emphasized that Tinubu’s administration could not have come at a better time, stressing that the President is diligently working to reposition the nation for greatness.

“President Tinubu’s leadership has been a game-changer for Nigeria. His commitment to economic reforms and development is unwavering, and we are confident that his policies will yield positive results in the long run”, he said.

Wishing President Tinubu well, Kalu also prayed for many more years in good health, saying, “We celebrate not just your birthday, Mr. President, but also your tireless efforts to build a better Nigeria for all.”

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DANGER! Ex-Soldier Abubakar Affan Vows to Kill VeryDarkMan ‘Like Deborah Samuel’

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On Friday, Abubakar Affan, whose social media profiles suggest he was a soldier with the Nigerian Army, threatened to kill Martins Vincent Otse, a social media influencer known as VeryDarkMan, if he “commits what Deborah did in Sokoto State”.

On May 12, 2022, Deborah Samuel was publicly stoned and burnt to death by a group of unruly students and Islamic extremists at the Shehu Shagari College of Education over an allegation of blasphemy against Prophet Muhammed (SAW) on a WhatsApp group.

Recently, 16 men identified as northern hunters were burnt alive in Uromi, Edo State. Their deaths caused national outrage and demands for justice.

On Friday, Otse reminded the public about the need for justice to be done in the case of Deborah Samuel in the same vein.

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“Arresting and prosecuting the killers of Deborah would bring justice and unity to Nigeria to a large extent. Fish out Deborah’s killers just like the Uromi 16 killers were arrested. I stand for justice,” Otse posted on his X handle.

A screenshot image of Abubakar Affan’s quote in response to Otse’s post.
The social media influencer attached a collage picture of the victim and one of her killers at the scene of the killing to the post.

Nigerians on X engaged the post in hundreds, echoing Otse’s sentiment.

However, Affan quoted the post with a direct threat to the influencer. Affan said he would kill Otse if he did what Deborah Samuel was accused of “today”.

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“If, today, you committed what Deborah did in Sokoto, I’ll find you and send you where she’s now,” Affan posted, adding a cartoon depicting different levels of reactions to mob killings in Lagos, Sokoto and Edo. His post is archived here.

Abbakar Affan.
“The hypocrisy of the animal we share country (sic) with. Bunch of gays,” Affan added.

WHAT AFFAN’S DIGITAL FOOTPRINTS SAY ABOUT HIM
The quote has garnered over 411,000 impressions. Curiously, over 1,647 accounts have liked it, suggesting an impressive number of people shared Affan’s extremist sentiment.

A peep into his X profile showed that he spent four years in the northeast with Nigerian troops combating Boko Haram terrorists.

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Boko Haram and ISIS terrorists got recruits by twisting and manipulating Islam, Affan said in an article posted by Strike Source, a security news website. The website was unsafe at press time because its secure site lock (SSL) certificate had expired.

“Many of their [ISIS] recruits are Nigerians from neighboring countries that speak Kanuri. They twist the words of the Koran and take advantage of the lack of education. By using a faith as a weapon, they tell them that the military is the enemy because they don’t follow their version of Islam, and that we are pagans,” Strike Source quoted Affan to have said.

On March 19, he shared that he had quit his job in the army.

A screenshot of Affan’s post talking about his military experience in the northeast.

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On his LinkedIn profile, he described himself as a former soldier who enlisted in the Nigerian Army in 2012:

“I’m Abubakar Affan, a dedicated and highly skilled special forces officer of the AFS with a passion for counter-terrorism operations and combating extremism. With nearly a decade of experience in the Armed Forces, I take immense pride in serving my country and contributing to the safety and security of the nation.

“I embarked on my journey in the military in 2012, enlisting in the Nigeria Army Armed Forces. My foundational military training at the prestigious Nigeria Army Depot in Zaria laid the groundwork for my subsequent growth as a specialized operative.

“For the past six years, I have been actively deployed in counter-terrorism operations in northern Nigeria, engaging and neutralizing extremist groups with unwavering determination. Throughout the service, I Abubakar has had the honor of being part of various Special Forces units, honing, skills and expertise in tackling complex security challenges.”

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CBN not happy over debt servicing as FX reserves drop $2bn

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Nigeria’s gross foreign exchange reserves fell by $2.57bn from January to March 2025, marking a 6.29 per cent decrease over the three-month period.

This was revealed in external reserves data available on the website of the Central Bank of Nigeria.

Earlier this week, the CBN attributed the decline in the country’s foreign exchange reserves during the first quarter of 2025 to the burden of foreign debt servicing.

On January 2, 2025, Nigeria’s foreign exchange reserves stood at approximately $40.88bn but dropped to $39.72bn by the end of the month.

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By the end of February, the reserves fell further to $38.42bn, representing a decline of $1.3bn within one month, equivalent to a 3.27 per cent decrease.

The downward trend continued into March as the reserves dropped to $38.31bn by the end of the month. This represents an additional reduction of $110m, translating to a 0.29 per cent decline compared to the previous month.

The combined month-on-month decreases led to a total quarterly drop of $2.57bn, representing a cumulative decline of 6.29 per cent over the first quarter of 2025.

Despite the strong reserves position at the end of 2024, the first quarter of 2025 witnessed a reversal, primarily driven by the need to service foreign debts.

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The CBN noted that the first quarter figures reflected seasonal and transitional adjustments, including significant interest payments on foreign debt.

These obligations have been a consistent pressure point, leading to a drawdown of reserves despite the improvements observed in the preceding quarter.

In a statement, the CBN said, “Reserves have continued to strengthen in 2025. While the first quarter figures reflected some seasonal and transitional adjustments, including significant interest payments on foreign-denominated debt, underlying fundamentals remain intact, and reserves are expected to continue improving over the second quarter of this year.”

Data from the CBN revealed that Nigeria’s total debt service payments amounted to $540m in January 2025 and $276m in February 2025.

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This means that a total of $816m was spent on foreign debt servicing in the first two months of the year.

The significant outflow in January was attributed to scheduled foreign debt repayments, creating substantial pressure on the reserves.

The reduction in February’s debt servicing to $276m provided some respite, but high debt obligations continued to weigh on reserve levels.

Despite the decline in the first quarter, the CBN remains optimistic about a rebound in reserve levels as oil production improves and non-oil FX earnings are expected to rise.

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The apex bank expressed confidence that improved oil production levels and a more supportive export growth environment would boost non-oil FX earnings and diversify external inflows.

The bank has reiterated its commitment to prudent reserve management, transparent reporting, and macroeconomic policies that aim to stabilise the naira, attract investment, and build long-term economic resilience.

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Just in: Ex-Oyo governor, Olunloyo is dead

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Ex-Governor of Oyo State, Chief Omololu Olunloyo, has died at the age of 90 years.

The nonagenarian, who was also Balogun of Oyo and Otun Bobasewa of Ife, died in the early hours of Sunday.

A former Editor of the Nigerian Tribune, Barrister Oladapo Ogunwusi confirmed Olunkoyo’s death in a statement on Sunday morning.

The statement reads, “With a heavy heart but gratitude to the Almighty, we announce the passing into glory of Dr. Victor Omololu Olunloyo, former governor of Oyo State, mathematician and engineer, and renowned technocrat, a few days before his 90th birthday.

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“The Balogun of Oyo and Otun Bobasewa of Ife, Dr. Olunloyo, was the first Rector, Ibadan Polytechnic and first Rector, Kwara State Polytechnic, among other notable appointments. His long record of service to the nation and humanity is a source of pride to his family and associates, even as we come to grip with this devastating event.”

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