General
Hardship: PDP Governors Ask Tinubu to Resign
By Modupe Gbadeyanka
President Bola Tinubu has been asked to resign if he is unable to bring succour to the citizens, who are suffering economic hardship over the policies of the government.
On his assumption of office on May 28, 2023, Mr Tinubu announced an end to subsidies on petrol and a few weeks later, the Central Bank of Nigeria (CBN) unified the exchange rate and devalued the Naira.
Since these duo policies, the prices of goods and services have continued to rise, with the Naira weakening from N461/$1 in the official market in June 2023 to N1,537/$1 at the close of business on Friday, February 16, 2024.
The tough economic situation in the country has caused several businesses, both big and small, to fold up, and citizens are struggling to survive because of rising inflation, which jumped by 29.90 per cent in January 2024, according to the National Bureau of Statistics (NBS).
On Monday, governors elected on the platform of the nation’s main opposition party, the Peoples Democratic Party (PDP), said the administration of Mr Tinubu of the ruling All Progressives Congress (APC) was turning Nigeria into another Venezuela.
“The cost of living is skyrocketing, and we are almost on the road to becoming like Venezuela.
“So, we are offering concrete opposition without insulting anybody.
“Ultimately, the decision rests squarely with Nigerians and other organs in the country to ensure that we take actions that will bring relief to all of us,” the governors said through the Chairman of the PDP Governors’ Forum and Bauchi State Governor, Mr Bala Mohammed.
The next day, governors of the APC, led by Mr Hope Uzodinma of Imo State, knocked on the doors of their opposing colleagues, urging them not to incite the people against Mr Tinubu.
“As leaders, mere criticism or even playing to the gallery for public applause is not the way to go. Engaging in blame games is also not the way to go.
“All of us are members of the National Economic Council, where we have the opportunity to give our input. I don’t think my colleagues have exhausted that avenue,” the APC governors said.
Responding over the weekend, the Director-General of the PDP Governors’ Forum, Mr Cyril Maduabum, called for the resignation of President Tinubu if he was overwhelmed by the many challenges facing Nigeria and Nigerians.
“Hardship and suffering being faced by Nigerians have no tribal, religious, or party colouration. A hungry man is an angry man.
“While all tiers of government have a role to play, the APC-led federal government has a disproportionate role to play in mobilising Nigerians and all organs and tiers of government for sustainable solutions.
“If it cannot do so or is unable to do so, it should graciously throw in the towel.
“Attempts by the Minister of Information, the APC Governors’ Forum, and other officials of the federal government who criticised the PDP Governors’ Forum for their patriotic intervention should be guided by the fact that the APC sought power to solve the problems of Nigeria, not to compound them, shift blame, grandstand, or use propaganda to obfuscate or confuse issues.
“PDP governed states are comparatively the best in Nigeria in terms of developmental policies, programmes, and projects that benefit their states positively, such as regular payment of salaries, pensions, gratuities, and the minimum wage to their workforce.
“State governments that are delinquent on these issues are not of PDP extraction. It is false to say so.
“Even the food crises are exacerbated by insecurity and high exchange rate issues, among others, which are largely federal subjects.
“The PDP governors, as stakeholders in governance, would continue to work collaboratively with Mr. President to find lasting solutions to a very difficult situation created or exacerbated by the APC since 2015. We believe in cooperative federalism.
“The buck ultimately stops at Mr President’s table as the Chief Executive Officer of Nigeria, the President and Commander in Chief of the Armed Forces of the Federation, and the Chief Salesman and leader of Nigeria.
“We are not in doubt that he is trying his best. We only hope and pray that his best is good enough to take Nigeria out of the woods in the shortest possible time,” the PDP governors stated.
By Adedapo Adesanya
The Nigeria–China Strategic Partnership (NCSP) recently hosted a high-level delegation from Newryton International Industrial Development Company Limited, a leading Chinese investment and industrial development consortium, to advance discussions on deepening bilateral trade, industrial cooperation, and development financing between both countries.
The Newryton delegation, led by Mr David Chen, Assistant Secretary-General of the China Hainan Investment Council, had earlier engaged with the Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA). They were accompanied to the NCSP by Mr Joe Onyuike, Vice-Chairman of NACCIMA’s Agriculture and Livestock Trade Group, who conveyed NACCIMA’s support for the delegation’s engagements.
Discussions centered on the establishment of a Nigeria–China Trade and Investment Platform, including a proposed Promotion Centre in China to support Nigerian products, investors, and state governments.
The consortium also presented opportunities within Hainan Province’s Free Trade Port (FTP), which offers preferential policies that Nigerian businesses can leverage to expand exports and attract new investments.
In his address on behalf of Newryton, Mr Pong outlined plans to collaborate with NCSP in accessing FOCAC-supported financing for strategic investments in agriculture, energy, mining, solid minerals processing, and related sectors. The delegation identified aquaculture as a key area of interest and referenced the forthcoming Global Aquaculture Conference in Hainan Province, encouraging Nigerian stakeholders to participate.
They also expressed readiness to strengthen cooperation in vocational training and employment under the Belt and Road Initiative (BRI).
Welcoming the delegation on behalf of the Director-General, Martins Olajide, NCSP’s Head of Internal Operations, reaffirmed the organisation’s commitment to fostering mutually beneficial partnerships.
He highlighted NCSP’s strong interest in the proposed Nigeria–China Trade and Investment Platform and the development of the Nigerian Oil Palm Industrial Park as a flagship demonstration project.
Also speaking at the meeting, Ms Judy Melifonwu, NCSP’s Head of International Relations, underscored the opportunities presented by China’s zero-tariff policy and the forthcoming NAQS–GACC protocol on the export of Nigerian aquaculture products. She noted that these frameworks would significantly enhance Nigeria’s competitiveness in emerging global markets.
Both parties expressed commitment to advancing discussions toward a structured cooperation framework covering all priority areas.
By Adedapo Adesanya
The United Kingdom–Nigeria Infrastructure Advisory Facility (UKNIAF), established in 2019 as part of a 16-year legacy of UK-funded infrastructure support to Nigeria, convened over 100 senior stakeholders on Tuesday, December 2, to review its progress and formally close out its current phase of operations.
The event brought together representatives from federal and state governments, development partners, development finance institutions, and the private sector to reflect on UKNIAF’s work across the power, infrastructure finance, and roads sectors. Discussions focused on institutional reforms, capacity development, and the sustainability of tools and processes introduced over the past six years.
Since inception, UKNIAF has delivered targeted technical assistance designed to embed evidence-based reforms, data-driven decision-making, and improved institutional performance. Its interventions have mobilised significant financing, strengthened regulatory and planning systems, and enhanced investor readiness across multiple infrastructure markets.
In the power sector, participants highlighted landmark achievements including the development of Nigeria’s first Integrated Resource Plan, which outlines a least-cost and low-carbon pathway for expanding electricity supply. UKNIAF also supported the Nigerian Electricity Regulatory Commission (NERC) in building advanced real-time data capabilities for tariff monitoring, grid management, and outage tracking. The programme enabled pioneering states to establish their own electricity markets following constitutional reforms.
In infrastructure finance, UKNIAF was recognised for strengthening project preparation systems and enabling access to capital. Notable accomplishments include supporting the mobilisation of $75 million from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme in two states, and accelerating mini-grid and solar deployment through improved technical standards at the Rural Electrification Agency (REA).
UKNIAF also designed a national project preparation facility, for which N21 billion was allocated in both the 2024 and 2025 budgets to build a pipeline of bankable projects.
Speaking on this, Mr Frank Edozie, UKNIAF Team Lead, described the programme’s close-out as a “handover for sustained delivery,” emphasising that strengthened institutions now hold tools that make Nigeria’s infrastructure landscape more transparent, climate-smart, and investor-ready.
On his part, the Minister of Power, Mr Adebayo Adelabu, commended the programme, noting that its technical assistance and advisory services had helped lay the foundation for a sustainable and inclusive electricity supply industry.
Mrs Cynthia Rowe, Head of Development Corporation at the UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, praised the partnership, highlighting achievements ranging from state-level electricity market reforms to unlocking major financing and designing Nigeria’s Climate Change Fund.
Enugu State Secretary to the State Government, Professor Chidiebere Onyia, underscored the lasting influence of the programme, stating that UKNIAF’s impact continues through the expertise and leadership transferred to national and sub-national institutions.
The close-out event reaffirmed stakeholders’ commitment to sustaining tools, reforms, and knowledge products developed under UKNIAF, while strengthening collaboration among public, private, and development actors in the infrastructure ecosystem.
Participants included federal and state agencies such as the Nigeria Governors’ Forum, Federal Ministry of Power, Ministry of Finance, NERC, REA, and the Transmission Company of Nigeria, alongside development partners including the African Development Bank, World Bank, and IFC, as well as private sector and civil society stakeholders.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.
The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.
Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.
Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.
Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.
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