Tinubu – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Thu, 02 Apr 2026 16:01:57 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png Tinubu – Tech | Business | Economy https://techeconomy.ng 32 32 Tinubu Appoints Shu’aibu Aliyu as PTDF Boss, Renews TCN CEO Abdulaziz https://techeconomy.ng/tinubu-appoints-aliyu-ptdf-renews-tcn-abdulaziz-controversy/ https://techeconomy.ng/tinubu-appoints-aliyu-ptdf-renews-tcn-abdulaziz-controversy/#respond Thu, 02 Apr 2026 16:01:57 +0000 https://techeconomy.ng/?p=178954 President Bola Ahmed Tinubu has appointed Professor Shu’aibu Shehu Aliyu as Executive Secretary of the Petroleum Technology Development Fund (PTDF), replacing Ahmed Galadima Aminu, who stepped down to pursue the 2027 governorship race in Adamawa State.

The decision was announced on Thursday in a statement issued by presidential spokesman Bayo Onanuga. The presidency said the appointment takes immediate effect.

In the same statement, the President renewed the tenure of Engineer Sule Ahmed Abdulaziz as Managing Director of the Transmission Company of Nigeria (TCN) for a second and final term.

Aliyu comes into the role from the National Commission for Mass Literacy, Adult and Non-Formal Education, where he served as Executive Secretary.

The presidency described him as a “distinguished academic and seasoned administrator” with experience across research, education and institutional leadership.

The President expects him to leverage his wealth of experience to reposition the PTDF for greater impact in human capital development, innovation, and strategic support for the oil and gas sector in line with national priorities,” the statement read.

His appointment points to a goal to strengthen institutions in the petroleum sector, especially around training and capacity building.

For Abdulaziz, the renewal follows what the presidency called a review of his first term in office. It said the transmission company recorded gains in grid stability, expansion of capacity and system upgrades under his leadership.

Officials also linked his work to regional electricity cooperation through the West African Power Pool.

President Tinubu urged both Shu’aibu Aliyu of PTDF and Engineer Sule Ahmed Abdulaziz of TCN to carry out their duties with diligence and integrity, aligning their work with the administration’s Renewed Hope agenda.

Still, Abdulaziz’s reappointment comes with questions. Over the past year, a series of reports alleging procurement breaches during his first term.

The reports noted documents from the Bureau of Public Procurement, which reviewed contracts awarded under emergency procedures.

According to one of the documents, 33 out of 285 contracts did not meet the requirements for emergency procurement under the Public Procurement Act, 2007.

The Bureau observed that out of the 285 projects executed through the Emergency Procurement Method, 252 projects met the requirements for the adoption of the special method, while 33 projects should have been procured through other methods of procurement as indicated in the Table above.”

The reports also led to concerns about alleged contract splitting and the award of jobs said not to qualify as emergencies. Sources quoted in the reports claimed some contracts were linked to associates, though the company denied wrongdoing when contacted.

Another report alleged that a 2023 Lexus LX 600 SUV, valued at N298.4 million, was procured for the Minister of Power. Documents seen in that report showed payment records and contract details tied to the purchase.

The allegation noted the vehicle was meant to influence decisions on Abdulaziz’s position, a claim not confirmed by the authorities involved.

Despite the controversy, the government has stood by its decision, pointing to performance improvements in the transmission network.

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Tinubu Approves Doro, Udeh as Ministers, Resumes FEC Meetings After 4 Months https://techeconomy.ng/tinubu-approves-doro-udeh-new-ministers-fec-meeting/ https://techeconomy.ng/tinubu-approves-doro-udeh-new-ministers-fec-meeting/#respond Thu, 06 Nov 2025 18:23:19 +0000 https://techeconomy.ng/?p=170720 President Bola Tinubu on Thursday swore in Dr Bernard Doro and Dr Kingsley Udeh as ministers, officially bringing them into the Federal Executive Council during a ceremony held at the State House in Abuja.

The swearing-in ceremony took place Council Chamber of the State House, Abuja, before the start of the Federal Executive Council meeting. 

Dr Bernard Doro, a UK-trained clinical practitioner with vast experience, is a seasoned  pharmaceutical and public health administrator. 

He was earlier nominated to replace the current APC National Chairman, Prof. Nentawe Yilwatda, who formerly served as minister of Humanitarian Affairs and Poverty Reduction before emerging as the party’s chairman on July 31, 2025. 

The appointments comply with the Federal Character Commission Act, as Enugu and Plateau States previously had no representation at the Federal Executive Council. Their swearing-in brings the Tinubu administration’s cabinet size to 48.  

Some analysts have raised reservations about the number of ministers in the Tinubu administration. However, the appointments of Doro and Udeh are considered necessary, as both states were previously underrepresented.

Among those who have objected to government spending is the former Central Bank Governor and Emir of Kano, Sanusi Lamido Sanusi.

Speaking at the Oxford Global Think Tank Leadership Conference and Book Launch, the monarch said, “If you stop paying subsidies but continue borrowing more, it means you’ve filled one hole only to dig another. The real challenge now is the quality of government spending and the management of the revenues saved,” he said. 

Dr Doro hails from Kwall, Bassa Local Government Area of Plateau State. According to the Presidency, he holds multiple degrees in Pharmacy, Law, and Advanced Clinical Practice. 

Dr Kingsley Udeh, who served as attorney-general and the commissioner for Justice in Enugu State until his appointment, replaces Uche Nnaji, the former Minister of Innovation, Science and Technology.

Nnaji resigned on October 7, 2025, following public controversy over his academic records at the University of Nigeria, Nsuka (UNN). 

After the swearing-in, the Federal Executive Meeting went into a closed session, its first since July 2025. The reason the meetings have not been held weekly, as in the previous administration, has not been made public by the Federal Government. 

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, briefed the council on Nigeria’s return to the international capital market, noting that the $2.35 billion Eurobond was oversubscribed by an all-time 453%, attracting $13 billion in orders, as reported by the Debt Management Office (DMO).

The next phase of reforms will remove barriers holding back investors. We will review tariffs and import restrictions to stimulate productivity and investment,” the Minister said.

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Tinubu Orders Review of Revenue Agency Deductions to Boost Savings https://techeconomy.ng/tinubu-review-revenue-deductions/ https://techeconomy.ng/tinubu-review-revenue-deductions/#respond Thu, 14 Aug 2025 10:45:10 +0000 https://techeconomy.ng/?p=165018 President Bola Tinubu has ordered a comprehensive review of deductions by Nigeria’s major revenue-generating agencies to boost public savings and free up resources for economic growth.

The directive was disclosed by Wale Edun, minister of Finance and coordinating minister of the Economy, after Wednesday’s Federal Executive Council (FEC) in Abuja.

Edun explained that the President specifically called for a review of the Nigerian National Petroleum Company Limited (NNPC)’s 30% management fee and 30% frontier exploration deduction under the Petroleum Industry Act.

He directed the Economic Management Team, led by Edun, to present actionable recommendations to the FEC on the best path forward.

The review will cover agencies including the Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and NNPC Limited.

Speaking on the significance of savings and investment as a catalyst for growth, Tinubu said:

Currently, public investment as a share of GDP stands at a low 5.0 per cent, largely due to insufficient public savings.

“We must urgently review and optimise our savings. This includes enhancing spending efficiency and reviewing deductions from the Federation Account, such as the cost of collection by revenue agencies, such as FIRS, Customs, NUPRC, and NIMASA.”

Citing the IMF’s Article IV Report published in July 2025, Tinubu noted that while it acknowledged Nigeria’s economic growth, it also stressed the need for investment-led growth. Identifying savings as the foundation of investment, the President aims to raise public savings by reviewing deductions and retention practices.

He reaffirmed his commitment to inclusive development, pointing to the recently launched Renewed Hope Ward Development Programme, which is designed to empower grassroots economic players, engage sub-national governments, and involve the private sector to ensure effective implementation.

He also urged state governors to prioritise productivity-enhancing investments and strengthen collaboration with local governments to tackle poverty.

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Tinubu Rejigs Cabinet: Sacks 5 Ministers, Appoints 7 https://techeconomy.ng/tinubu-rejigs-cabinet-sacks-5-ministers-appoints-7/ https://techeconomy.ng/tinubu-rejigs-cabinet-sacks-5-ministers-appoints-7/#comments Wed, 23 Oct 2024 15:54:38 +0000 https://techeconomy.ng/?p=146250 President Bola Tinubu has rejigged his cabinet as he sacked five of his ministers today, Techeconomy can report.

He also re-assigned 10 ministers to new ministerial portfolios and appointed seven new ministers for Senate confirmation.

The President sacked:

  1. Uju-Ken Ohanenye as Minister of Women Affairs;
  2. Lola Ade-John as Minister of Tourism;
  3. Tahir Mamman as Minister of Education;
  4. Abdullahi Gwarzo as Minister of State, Housing and Urban Development; and
  5. Jamila Ibrahim as Minister of Youth Development.

Tinubu nominated,

  1. Bianca Odumegu-Ojukwu as the Minister of State Foreign Affairs, while
  2. Nentawe Yilwatda as the Minister of Humanitarian Affairs and Poverty Reduction, officially bringing an end to the tenure of suspended Betta Edu.

The President also nominated

  1. Maigari Dingyadi as the Minister of Labour and Employment,
  2. Jumoke Oduwole as the Minister of Industry,
  3. Idi Maiha as Minister for the newly created Livestock Development Ministry,
  4. Yusuf Ata as the Minister of State, Housing and Urban Development, with
  5. Suwaiba Ahmad as Minister of State Education.

Scrapped Ministries

Earlier in the day, the President announced scrapped the Ministry of Nigeria Delta Development and announced the Ministry of Regional Development as a replacement to oversee the activities of all the regional development commissions.

The Regional Development Commissions to be under the supervision of the new Ministry are the Niger Delta Development Commission, the South East Development Commission, the North East Development and the North West Development Commission.

Tinubu also scrapped the Ministry of Sports Development and transferred its functions to the National Sports Commission to “develop a vibrant sports economy”.

The President approved the merger of the Federal Ministry of Tourism and the Federal Ministry of Arts and Culture to become the Federal Ministry of Art, Culture, Tourism and the Creative Economy.

“The appointment of Shehu Dikko as Chairman of the National Sports Commission.

“The appointment of Sunday Akin Dare as Special Adviser to the President on Public Communication and Orientation working from the Ministry of Information and National Orientation,” the President said.

The President appreciated the outgoing members of the Federal Executive Council for their service to the nation while wishing them the best in their future endeavours.

He then charged the newly appointed ministers as well as their reassigned colleagues to see their appointment as a call to serve the nation.

He added that all appointees must understand the administration’s eagerness and determination to set Nigeria on the path to irreversible growth and invest the best of their abilities into the actualisation of the government’s priorities.

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Just In: Tinubu’s Government Scraps Two Ministries https://techeconomy.ng/just-in-tinubus-government-scraps-two-ministries/ https://techeconomy.ng/just-in-tinubus-government-scraps-two-ministries/#respond Wed, 23 Oct 2024 13:52:36 +0000 https://techeconomy.ng/?p=146241 The Federal Executive Council chaired by President Bola Tinubu has scrapped two ministries, Techeconomy can report. 

The ministries, according to a tweet by President Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, are Niger Delta Ministry and the Ministry of Sports Development.

“There will now be a ministry of regional development to oversee all the regional development commissions, such as Niger Delta Development Commission, North West Development Commission, South West Development Commission, and North East Development Commission.

“The National Sports Commission will take over the role of the Ministry of Sports”, Onanuga tweeted.

“The FEC also approved the merger of the Ministry of Tourism with the Ministry of Culture and Creative Economy.

“The decisions were taken today at the meeting of Federal Executive Council in Abuja.

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Inflation, Policies, and Digital Banking: Are Nigerians Paying the Price for Reform? https://techeconomy.ng/inflation-policies-and-digital-banking-are-nigerians-paying-the-price-for-tinubu-reform/ https://techeconomy.ng/inflation-policies-and-digital-banking-are-nigerians-paying-the-price-for-tinubu-reform/#respond Mon, 09 Sep 2024 11:00:53 +0000 https://techeconomy.ng/?p=142616 President Tinubu recently stated that he will continually make hard decisions to move Nigeria forward, even if there is a lack of national consensus. 

Saying this during his recent visit to China, President Tinubu mentioned several key reforms his administration has initiated since taking office on May 29, 2023, such as the currency devaluation and removal of fuel subsidies, designed to free up government resources for investment in infrastructure and social services.

According to him, these measures are necessary for reviving Nigeria’s financial stability and ensuring sustainable development.

President Tinubu well acknowledged the stress these decisions have put on Nigerians, but called for patience, assuring that these reforms would eventually lead to a better and improved economy later on in future. 

But for most citizens, these “difficult choices” seem one-sided, with the poor and middle class bearing the brunt of the changes, and many wonder if they would survive to see the future the president speaks about. 

Chinwe, a Lagos-based hairdresser, begins her day with anxiety. Her fuel tank is half-empty, and refuelling will now cost her almost four times more than it did just a year ago. 

As she shops for groceries, the prices of rice, tomatoes, and bread have tripled. To cap it all off, when her sister sends her ₦20,000 for the week, she notices a new ₦50 charge from her digital bank — something that had never happened before. 

How much more can I bear in the name of a reform?” Chinwe asks herself, recalling the hardships that seem endless.

The fuel subsidy removal in June sent petrol prices flying from ₦165 per litre to over ₦800 today. The ripple effect is felt across all sectors — transport costs have increased by over 45%, and food inflation is skyrocketing, with staple goods like rice seeing price hikes of over 50%. 

As of September 2024, inflation rates have risen to over 22%, compared to around 17% prior to Tinubu’s administration. Nigeria’s poor and middle class, who spend the bulk of their income on food and transportation, are feeling the worst effects and now, the bank of the free is no longer free.

For years, digital banks like Opay and PalmPay were hailed as revolutionary for their promise of seamless, cost-free banking. 

They were the go-to for millions of Nigerians who had grown frustrated with traditional banks and their continuous charges. 

However, that changed on September 9, 2024, the date both Opay and PalmPay implemented a new ₦50 charge on all transfers above ₦10,000. Kuda Bank is not left out, as a ₦50 stamp duty on electronic funds transfer has been implemented for a while now.

In the memo sent to customers, Opay stated:

“Dear Valued Customer,
Please be informed that starting September 9th, 2024, a one-time fee of ₦50 will be applied to electronic transfers of ₦10,000 and above, in compliance with FIRS regulations. It is important to note that OPay does not benefit from this charge in any way, as it is directed entirely to the Federal Government.”

Similarly, PalmPay wrote to its customers:

“In accordance with the Electronic Money Transfer Levy (EMTL) regulation of 2022, a ₦50 levy will be charged on transfers of ₦10,000 or more paid into your PalmPay account as mandated by FIRS. Please note that PalmPay does not benefit from this levy.”

This change, while seemingly small, has caused an outcry among Nigerians. For many, the ₦50 charge feels like yet another financial blow amid the ongoing inflation problems. 

Customers, who once praised digital banks for their affordability, are now questioning their very existence. On social media, angry users have expressed their dissatisfaction, with some threatening to move away from digital platforms altogether.

“We used to trust these platforms because they were free, but now they’re just like every other bank,” wrote an Opay user on Twitter.

Another PalmPay customer posted, “These companies are supposed to make life easier, but now they’re just adding to our struggles. Is there anything left in Nigeria that doesn’t come with a price tag?”

The Digital Banking Irony: Convenience at a Cost

Digital banking in Nigeria has always been marketed as a tool for financial inclusion, offering access to affordable banking for those underserved by traditional banks. 

Opay and PalmPay were the flag-bearers of this movement, growing rapidly by providing free transfers, microloans, and other services. However, with the introduction of the Electronic Money Transfer Levy (EMTL), the very essence of digital banking — cost-efficiency — is being washed away.

Even these banks can no longer bear it. In a time when inflation is eating into household incomes and making basic goods less affordable, digital banks now have no choice but to add to the financial burden. 

Nigerians, who flocked to Opay and PalmPay for their promise of free transactions, now feel betrayed by these additional charges, even if the banks themselves do not benefit from them.

The new charges come at a time when Nigerians are already feeling the pinch of rising living costs. The ₦50 levy may seem small on paper, but for people whose financial situations are already precarious, these added costs quickly pile up, creating an additional burden.

Are Nigerians Paying the Price for Reforms by Tinubu?

While President Tinubu has put policies forward, that may eventually lead to long-term benefits, the immediate impact is one of heightened financial pressure, and the patience of Nigerians is wearing thin.

As Chinwe sits down to tally her weekly expenses, she can’t help but wonder: at what point does reform stop being about the future and start addressing the present realities? 

Tinubunomics: Where Do We Go From Here?

Added to the key decisions made by President Bola Ahmed Tinubu, including introducing economic diversification efforts focusing on agriculture, technology, and manufacturing, more profoundly, in July 2023, security sector reforms were implemented to tackle insurgency and banditry. Educational and healthcare system reforms followed in August and September 2023, respectively. 

Anti-corruption measures began in October 2023, tax reforms in November 2023, and significant infrastructure investments in December 2023. Energy sector reforms and judicial reforms commenced in January 2024. What’s more????

These policy decisions raise questions about their pros and cons, touching upon the broader ‘leadership question,’ as Dr. Sunday Adelaja discussed in his classic works. 

Leadership involves making strategic decisions and formulating policies that guide organizations or nations towards their objectives. John C. Maxwell defined leadership as the ability to influence others and create a vision, emphasizing that effective leaders make informed decisions and set impactful policies.

In light of the ongoing challenges, the Central Bank of Nigeria (CBN) has adjusted its monetary policy, including increasing interest rates to manage inflation. However, these measures may also slow economic growth by raising borrowing costs. 

The Tinubu administration has committed to long-term reforms aimed at stabilizing the energy sector and reducing fuel price volatility, but the immediate effects continue to stress household budgets and economic stability. Balancing short-term impacts with long-term goals remains a critical challenge for the administration.

Thus the questions about whether these policies serve the masses’ interests, as emphasized by thinkers like Amartya Sen, Joseph Stiglitz, Paul Collier, and Elinor Ostrom. Sen’s Development as Freedom (1999) highlights how policies in education and health expand freedoms.  

Stiglitz’s Globalization and Its Discontents (2002) advocates for policies addressing global inequality, while Collier’s The Bottom Billion (2007) stresses targeted aid for the poorest nations. Ostrom’s Governing the Commons (1990) shows the effectiveness of local governance. Robert Putnam’s Bowling Alone (2000) and John Rawls’s A Theory of Justice (1971) emphasize community engagement and fairness in policy. Mariana Mazzucato, Michael Sandel, Nancy Fraser, and James Robinson further discuss the impact of inclusive and ethical policies on societal benefits.

The effectiveness of government policies should fundamentally address the masses’ challenges. However, current policies by President Tinubu and his administration, including fuel subsidy removal, seem to impose huge pressure on the populace without clear benefits trickling down. Thus, there is a need for absolute examination and necessary adjustments to ensure that policies are not just well-intentioned but also effectively serve the public’s interests.

Considering Nigeria’s current situation, one might look at Argentina’s approach to tackling severe inflation as a potential model. By raising interest rates to 40% and implementing austerity measures, Argentina aims to stabilize its economy, though this comes with its own set of challenges.

The call for justice and balance, as reiterated in the Biblical exhortation to “let justice roll down like waters,” points to the need for policies that consider both short-term impacts and long-term benefits. 

For us, we opined that leadership must reflect sacrifices and ensure that the burden of necessary reforms is shared equitably.  Again, the fintech industry’s N50 levy on transactions above N10,000 could have mixed effects, potentially discouraging transactions and affecting financial inclusion while providing additional revenue to fintechs. 

The overall impact will depend on consumer and business responses, as well as regulatory measures to ensure fairness and competition.

In a nutshell, while some policies by President Tinubu are designed to address critical economic challenges, the balance between immediate sacrifices and long-term benefits is important. Effective leadership, we believe, should reflect the needs and welfare of the masses, ensuring that reforms genuinely contribute to national progress.

Until the government finds a way to cushion the blows of these reforms, Nigerians will continue to ask whether the price they are paying is too high.

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Ajuri Ngelale Resigns from Tinubu’s Government https://techeconomy.ng/ajuri-ngelale-resigns-from-tinubus-government/ https://techeconomy.ng/ajuri-ngelale-resigns-from-tinubus-government/#comments Sat, 07 Sep 2024 12:20:46 +0000 https://techeconomy.ng/?p=142585 The Special Adviser to President Bola Tinubu on media and publicity Ajuri Ngelale says he will be embarking on an “indefinite leave of absence to deal with medical matters affecting his immediate, nuclear family.

A statement issued on  Saturday says the decision “was taken after significant consultations with my family over the past several days as a vexatious medical situation has worsened at home”.

The statement reads in full On Friday, ‘’I submitted a memo to the Chief of Staff to the President informing my office that I am proceeding on an indefinite leave of absence to frontally deal with medical matters presently affecting my immediate, nuclear family.

While I fully appreciate that the ship of state waits for no man, this agonizing decision — entailing a pause of my functions as the Special Adviser to the President on Media & Publicity and Official Spokesperson of the President; Special Presidential Envoy on Climate Action, and Chairman, Presidential Steering Committee on Project Evergreen — was taken after significant consultations with my family over the past several days as a vexatious medical situation has worsened at home.

I look forward to returning to full-time national service when time, healing, and fate permit. I respectfully ask for some privacy for my family and I during this time.

On July 31, 2023, Tinubu appointed Ngelale as his special adviser on media and publicity. On May 19, 2024, the president appointed Ajuri Ngelale as the special presidential envoy on climate action.

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National Protest: Can Government Persuasions Substitute for Good Economic Prosperity? https://techeconomy.ng/national-protest-can-government-persuasions-substitute-for-good-economic-prosperity/ https://techeconomy.ng/national-protest-can-government-persuasions-substitute-for-good-economic-prosperity/#respond Mon, 29 Jul 2024 11:00:51 +0000 https://techeconomy.ng/?p=138343 Earlier this year, PwC projected Nigeria’s poverty level to reach 38.8%, while the World Bank’s projection was about 40.7%. 

As of June 2024, Nigeria’s inflation rate reached 34.19%, the highest since March 1996, up from 33.95% in May. Food inflation surged to 40.87%, driven by rising prices in essential commodities like potatoes and meat. 

Core inflation, excluding volatile items, stood at 27.40%. Monthly inflation increased by 2.31% in June, resulting from fuel subsidy removal and currency depreciation. Projections suggest inflation may stabilise around 30% by the end of Q3 2024.

These and many more are the reasons Nigerians are taking to the streets in protest on August 1, 2024. 

Many are now unable to make ends meet, with basic necessities becoming increasingly unaffordable. The rocketing inflation and poverty levels have compounded the sense of urgency among citizens, pushing the demand for immediate and meaningful government action to alleviate this plight, seeking for policy reforms that address the root causes of these hardships.

The national protest, themed, #EndBadGovernanceInNigeria is planned to take place across all 36 states and the Federal Capital Territory. 

Running daily from 9 am to 6 pm until the demands are met, several key issues have been outlined driving the protest. These include a reduction in the petrol pump price to ₦100 per liter, measures to fight insecurity and hunger, and the closure of all internally displaced persons (IDP) camps with resettlement plans for the campers. 

Added to these, the National Protest calls for total electoral reform, an independent investigation into the ₦355 billion electoral budget, and the release of all detained #EndSARS protesters. 

Further demands include the implementation of a minimum living wage of ₦300,000, compulsory free education from primary to secondary levels, and education grants at the tertiary level. 

Protesters also insist that children of all public office holders must attend public schools in Nigeria, the government should patronise locally made goods, and they advocate for a transition to a unicameral legislature and judicial and constitutional reforms. 

Organisers emphasise the protest’s peaceful nature, warning against smoking, drinking, or drug use on the grounds, and resolve not to back down until President Tinubu and his cabinet resign if any protester is harmed or detained.

“Nigeria is on the Path of Recovery”, Tinubu Tells Traditional Rulers

But the government is persuading the youths to give Tinubu’s administration more time to address these issues. 

Ajuri Ngelale, special adviser to the president, Media and Publicity, said, “Let me be clear, we are not in office to dominate our people, we are here to serve them. No one in our administration has the authority to deny Nigerians their right to peaceful protest.”

Meanwhile, the Inspector General of Police Kayode Egbetokun has asked groups planning to join the National Protest to provide their details to state police commissioners. 

He emphasised the peaceful nature of the protest and recognised the constitutional right to peaceful assembly. To ensure public safety and order, groups are requested to share their proposed routes, assembly points, protest duration, and contact details of organisers. 

The IGP also asked for measures to prevent criminal elements from hijacking the protest and identifiers to help isolate troublemakers.

Nigeria has a rich history of protests and movements reiterating public dissatisfaction with various aspects of governance and economic conditions. One of the most outstanding recent movements is the #EndSARS protest in 2020, which was against police brutality, specifically targeting the Special Anti-Robbery Squad (SARS). 

This movement did not just highlight the issue of police brutality it also became a wider call for systemic change and better governance.

The protests garnered international attention and highlighted issues of government accountability and human rights abuses. Despite promises of reform, the grievances of #EndSARS continues, contributing to a continued sense of disillusionment among Nigerians. 

Other protests include the Occupy Nigeria movement in 2012, which was a response to the removal of fuel subsidies and the subsequent increase in fuel prices. 

This national protest saw massive participation across the country and led to the reinstatement of the subsidies. Also, historical protests like the Aba Women’s Riot in 1929 and the Anti-SAP riots in 1989 have also been important in impacting Nigeria’s socio-political sector.

These movements illustrate a persistent thread of public unrest and the willingness of Nigerians to mobilise for change. The upcoming protest on August 1st is part of this continuum, driven by economic hardship and governance issues, as well as the fight for a better Nigeria.

Tobi Adetunji says:

Obedience is Better than Sacrifice!!! Our Leaders Should Decide if Harkening is Preferable to Fatted Rams!!!!

Anytime opportunities present themselves to contribute in our little ways to the social re-engineering of the nation, it is always an amalgam, potpourri, or a mixed feeling of emotions, with the disturbing reality staring us in the form of facts and figures.

Mahatma Gandhi, a renowned non-violent movement crusader, aptly put it when he said, “The future depends on what we do in the present.” 

In other words, what we are doing at the present sets the pace for what is to come. If that is correct, then swift action is important.

Events starting from last week indicate that all seems to be set for the August 1st “end bad governance” protest. Expectedly, the systemic and momentum-gathering of the planned protest has been greeted by raucousness, jarring, and dissonance of thoughts.

While some have linked the development to bad governance and the failure of the government to meet the people’s needs, others view the attendant effects of what is obtainable in Kenya recently should be avoided at all costs.

But what are the conditions that set forth the pace for the planned National Protest? Records from the National Bureau of Statistics (NBS) pegged Nigeria’s headline inflation at 34.2 percent in June 2024, up from 22.8% in June 2023 and 34.0% in May 2024.

Meanwhile, at the 296th meeting of the MPC held on 22nd and 23rd July 2024, the Central Bank of Nigeria raised the MPR by 50 basis points to 26.75% from 26.25%. I will leave you and the economists with the implications of what these figures presuppose. But what is clear is that the prices of goods and services have ballooned astronomically.

On the other side, many have claimed that the $30 billion Foreign Direct Investment commitments already secured during the year are intended to grow the economy. 

There is another school of thought: President Tinubu signed the 2023 Electricity Act into law, marking a significant achievement in the sector.

The new law focuses on enhancing the regulation and management of the electricity value chain with the active participation of the sub-national governments. This, thus far, has resulted in the process of devolution of regulatory powers to three states – Enugu, Ekiti, and Ondo – to set up their electricity markets. 

Furthermore, the president gave approval to defray legacy debts owed to gas companies to allow efficient gas supply for the sector going forward and a payment mechanism to address generation companies’ debts.

But what prompted serious attention and soul-searching questions is that since it has been noted that the cloud has been gathering for the proposed protest, the people at the helm of affairs have been rallying around and appealing. From the traditional rulers to the religious leaders, recently some governors and civil society organisations expressed dissatisfaction with the planned national protest.

For us, we are tempted to ask if there are missing links somewhere in governance or policies? If not, why did our leaders quickly become an appealing machine, but would the hungry man listen to all these pleas?

Are we not supposed to be fed up, having been the sacrificial lamb for over a year without corresponding measures or a condescending stance from the leadership? Are the masses already at the extension limit? 

No thanks to Hooke’s Law. These and many questions are begging for answers from those to whom the submitted will has been given. Or do we have insoluble problems as a people? For us, we don’t think we have a special problem, perhaps we have not taken up the challenge.

Let’s take a look at the ten eventful years of China’s growth. India was classified as one of the Fragile Five: Brazil, India, Indonesia, South Africa, and Turkey.

But what has changed? China has electricity production of 1,858 TWh, ranking it as the world’s 3rd largest from 2014 to date. Exports reached $765bn, from $336bn in 2013. Agriculture has made China the world’s producer of 12 agricultural products. In space, it became the 1st country to land near the moon’s south pole. FDI inflow was $971.5bn from 2000 to 2023. Maybe we should think.

We are of the view that if the policies of the current administration have been meeting the needs of the people as claimed, it may not be necessary to toe the persuasive line. 

In this stead, a human rights activist and executive director of the Youths and Environmental Advocacy Centre (YEAC-Nigeria), Rivers State, Fyneface Dumnamene Fyneface, said, “Mr. The President and his team, especially the Minister of Budget and Economic Planning, would agree with Nigerians that the current situation is worse than what President Tinubu inherited.” 

It is still far from what Nigerians, who are now hungrier, expected from this administration. Anyone can disagree with our opinions, but a check of the price of commodities at the nearest market will confirm or dispel.

Well, in the stead of the Arab Spring, or better put the #EndSARS movement, this proposed “end bad governance” protest will cash in on the power of social media in mobilising and rallying support. 

This is very key and important because social media, also called the fifth estate, is most strongly associated with bloggers, journalists, hacktivists, and media outlets that operate outside of the mainstream media. This is not only going to give the protest a global outlook but also exposes the good and bad sides of leaders and followers alike.

For us, if the National Protest shouldn’t happen, those at the helm of affairs should get back to the drawing board and effect practical, measurable, immediate, and remote plans of action that will convince the masses that the sincerity of the government’s roadmap to ameliorating the plight of the people will be fully understood and appreciated. But a situation depicting “Monkey dey work, Baboon dey chop” will not work well.

It seems that the masses have borne the brunt for a long time without a corresponding sacrificial gait from the leadership. While we condemn the wanton destruction associated with uncoordinated protests, we crave the indulgence of the government to do the needful. 

True peace is not merely the absence of tension; it is the presence of justice. “The time is always right to do what is right.”

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Tinubu to Samsung: Nigeria is Your Best Investment Destination https://techeconomy.ng/tinubu-to-samsung-nigeria-is-your-best-investment-destination/ https://techeconomy.ng/tinubu-to-samsung-nigeria-is-your-best-investment-destination/#respond Mon, 29 Apr 2024 08:17:07 +0000 https://techeconomy.ng/?p=130078 President Bola Tinubu has urged Samsung to see Nigeria as best investment destination, as it operates on the principle of ‘a willing-buyer and willing-seller’, which ensures seamless access to capital for investors both within and outside the country.

Ajuri Ngelale, Presidential Spokesman, in a statement on Sunday, said the President gave the assurance on Sunday in Riyadh, Saudi Arabia, during a meeting with Hong Namkoong, the president and chief executive officer of Samsung, and Jungwook Kim, the vhairman of Samsung Investment Global.

The meeting took place on the margins of the World Economic Forum (WEF) Special Meeting on Global Collaboration, Growth and Energy for Development, currently going on in Riyadh, Saudi Arabia.

According to the President, “Nigeria is a very huge country with a huge and able population. We have vibrant youths ready to learn and progress. In fact, our young do not wait for us.

“They go ahead of us in their determination to succeed. We must keep up and provide opportunities for them to excel with. We have an infrastructure deficit and you can take advantage of that and invest early and deeply in an environment that is absorptive and ready for it. It is modeled after a willing-buyer and willing-seller arrangement. Easy capital in and easy capital out.

The President took time to detail the significant opportunities across sectors for investment within the Renewed Hope Infrastructure Development Fund, which involves the potential utilization of co-finance instruments on critical infrastructure and technology which Samsung is well known to produce.

President Tinubu also harped on the importance of deepening collaboration in the crude oil, natural gas, renewable energy, engineering, technology and agriculture sectors, emphasizing the potential for vast private sector participation in the establishment of fully-embedded, off-grid, cold-chain integration across sub-industries in the agriculture sector to forestall post-harvest losses with mass refrigeration capacity.

“We are ready to discuss and discover one another more. We can benefit so much from collaborative effort. You have the know-how, and we have the willingness. Seize this opportunity,” the President told the Samsung executives.

Jungwook Kim, Samsung Chairman, in his remarks, expressed Samsung’s interest in expanding its presence in Nigeria, citing the successes of sister companies already operating in the country while laying out potential new opportunities in Nigeria.

“We have built many power stations around the world. We are top of the class in gas-fired power plant construction. We have an ever-increasing portfolio in the production of renewable energy solutions around the world. We can make a lot of progress in Nigeria’s energy sector as well as bringing our technology to other key productive sectors.

“Transmission lines and smart grids are areas where we see increasing demand globally. You need infrastructure anywhere you go. We are good at metropolitan rail lines; we are good at bridge construction and any of these types of infrastructure projects, in addition to oil and gas engineering projects.

“We are looking forward to knowing Nigeria better under your leadership and to see how we can penetrate the Nigerian market deeper. This is a great opportunity for us.”

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Tinubu Appoints Jim Ovia as NELFUND’S Chairman https://techeconomy.ng/tinubu-appoints-jim-ovia-as-nelfunds-chairman/ https://techeconomy.ng/tinubu-appoints-jim-ovia-as-nelfunds-chairman/#comments Sat, 27 Apr 2024 06:55:55 +0000 https://techeconomy.ng/?p=129974 President Bola Tinubu has approved the appointment of Mr. Jim Ovia, a renowned banker and businessman, as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND).

This is contained in a statement issued by Ajuri Ngelale, Special Adviser to the President on Media & Publicity, on Friday.

“Mr. Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.”

“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.

students loan scheme
students loan scheme

“The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.

“The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.

NELFUND and Student Loan
NELFUND logo

“The President believes Mr. Jim Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds and of ensuring that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century,” the statement read.

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