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Low Confidence, Uncertainty as President Tinubu Marks One Year in Office

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Bola Tinubu 2027 presidential election

By Adedapo Adesanya

On May 29, 2o23, President Bola Tinubu mounted the rostrum at Eagle Square in Abuja and took the oath of office to become Nigeria’s 16th president making a promise of renewed hope; now one year later, food, energy, and transportation prices among others are up.

Part of his first office duties was the elimination of a long-standing petrol subsidy. He announced that “subsidy is gone” noting that his predecessor, Mr Muhammadu Buhari did not accommodate for the payment beyond June 2023 but some months down the line, it was revealed that the government continued to pay since prices didn’t fluctuate as it should.

Meanwhile, the decision led to a double in prices of food, transportation, energy, and shelter, among others.

To cushion the ripple effect of this, President Tinubu announced some palliative measures but to date, there is no clear evidence that Nigerians have benefitted from the relief he announced on live television.

The Bola Ahmed Tinubu administration announced in August 2023 that it would spend N100 billion between then and March 2024 to buy 3,000 compressed natural gas (CNG)-powered 20-seater buses. As of right now, neither the buses nor any other infrastructure needed to power them are available. Remarks made in the last several days seem to suggest that measures are in place to make this happen. However, the delay has negatively impacted the masses, given that the buses were intended to mitigate the impact of the high fuel cost on the general public.

President Tinubu also promised to stabilise the Naira but comparatively, the country’s currency continues to perform below expectations (down 60 per cent) compared to the Dollar and other foreign currencies. After declining to a new low following two devaluations, the Naira strengthened due to reforms of the Central Bank of Nigeria (CBN). This made the Naira the best-performing currency for a while but the momentum was short-lived as underlying factors like supply constraints remained.

The effort of the central bank to stabilise the FX market has not been matched on the fiscal front by policies on trade, security, and agriculture.

President Tinubu also said his administration would lead the drive to cultivate 500,000 hectares of farmlands across the country to grow maize, rice, wheat, millet and other staple crops to tackle the high cost of food items across the country.

Nigeria’s inflation has also climbed to a three-decade high of 33.69 per cent from 22 per cent over the past year while food inflation remains above 40.5 per cent.

Oil production has also been on a steady decline, erasing some gains last year, as the issues of oil theft, underinvestment, and infrastructure hamper one of Nigeria’s major sources of revenue.

Security-wise, nothing has changed in that area a year later. The same security issue that Nigerians faced during Buhari’s administration remains with kidnaps soaring while bandits keep robbing villages, neighbourhoods, and even towns.

As he commences the second year of his four-year term presidency before the next election cycle in 2027, many Nigerians wonder what the remaining years of the Tinubu administration hold.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Budget Presentation: Rivers Assembly Adjourns Plenary Indefinitely

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rivers assembly

By Modupe Gbadeyanka

The Rivers State House of Assembly has adjourned its legislative duties indefinitely, frustrating the re-presentation of the 2025 budget by Governor Siminalayi Fubara.

Recall that this week, precisely on Wednesday, Mr Fubara was at the makeshift premises of the parliament to present the 2025 Appropriation Bill to the Rivers Assembly as directed by the Supreme Court, but he was shut out.

He was not allowed to enter for the presentation of the budget. He, right there, informed journalists that he had earlier called the Speaker, Mr Martin Amaewhule, on the phone of his intention to be at the Assembly.

The next day, during a media chat, his predecessor, Mr Nyesom Wike, who is currently the Minister of FCT, lambasted his successor, saying he was trying to blackmail the state legislators.

At the plenary on Friday, the lawmakers, who are loyal to Mr Wike, agreed to indefinitely suspend sittings, a move that could make it impossible for the Governor to legitimately spend any government funds.

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Aliko Dangote Foundation to Share One Million Bags of Rice in 774 Local Councils

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One Million Bags of Rice

By Aduragbemi Omiyale

No fewer than one million bags of rice weighing 10kg each will be distributed in the 774 local government areas of Nigeria by the Aliko Dangote Foundation.

The organisation made this disclosure on Thursday at the launch of the 2025 Annual National Food Intervention Project valued at N16 billion.

The distribution of the food item will begin in Kano State, and then to other states, the chairman of the foundation, Mr Aliko Dangote, disclosed.

“This annual initiative, which embodies compassion, solidarity, and shared responsibility, is part of our response to the current economic challenges facing our nation. It reflects our commitment to supporting our communities in line with our core values,” the businessman, who was represented by his daughter, Ms Marya Aliko Dangote, explained.

“We are collaborating with state governments to ensure that the food reaches the most vulnerable individuals in each state.

“Our foundation focuses on improving the living conditions of Nigerians through support for projects which tackle hunger and water supply problems, strengthen the quality and scope of health and education, and promote economic empowerment at the community level

“I believe that today’s event will help tackle hunger and help the most vulnerable people break their fast. We are playing our role in enhancing the living conditions of our people.

“I urge other industrialists and firms to lend a helping hand in combating hunger through programmes and initiatives that will place food on the tables of vulnerable Nigerians.

“This job should not be left to the government alone, rather we need a public-private partnership that will help us in fighting the scourge.

“I commend the government at all levels for efforts in addressing the food crisis. I am certain that with time, we shall overcome these challenges; therefore, let us support the government in achieving its target of a better life for Nigerians,” the richest man in Africa stated.

The Governor of Kano State, Mr Abba Yusuf, who flagged off the event, said the intervention reflects the unwavering commitment of Mr Dangote in addressing poverty and hunger in Nigeria.

Mr Yusuf, represented by his deputy, Mr Aminu Abdulsalam Gworzo, said 120,000 bags of 10kg rice would be distributed across the 44 Local Government Areas of the state, describing the industrialist as humane.

To ensure transparency in the distribution process, he said the state government has set up a committee comprising of relevant ministries, CSOs, religious leaders, departments and agencies, local authorities, the Hisbah Board and security agencies.

On her part, the chief executive of the Aliko Dangote Foundation, Ms Zouera Youssoufou, said the gesture was a way of giving back, and supporting governments in fighting poverty and hunger in Nigeria.

“We are going to other states to distribute the products, but we’ve just flagged off in Kano,” she told newsmen on the sideline of the Kano Government House, venue of the flag off,” she stated.

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Customs Seizes Over $1.1m From Female Passenger At Kano Airport

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Nigeria Customs Service

By Adedapo Adesanya

Operatives of the Nigeria Customs Service (NCS) have intercepted $1,154,900 and SR135,900 undeclared foreign currency at the Mallam Aminu Kano International Airport (MAKIA).

NCS spokesman, Mr Abdullahi Maiwada, disclosed this in a statement on Thursday, revealing that the seizure was made recently during a routine baggage check on an inbound passenger, Mrs Hauwa Ibrahim Abdullahi, who arrived on Saudi Airline Flight No. SV401 from Saudi Arabia.

According to Mr Maiwada, during the physical examination of the passenger’s luggage conducted by NCS Officers, the undeclared currency was discovered concealed within palm-date fruit packs locally referred to as Dabino.

He stated that the interception aligns with the NCS’s commitment to enforcing financial regulations and preventing illicit financial flows across Nigeria’s borders.

“In line with established procedures, the suspect and the seized foreign currency have been handed over to the Economic and Financial Crimes Commission (EFCC) for further investigation and necessary legal action,” the statement read.

“Subsequently, the court convicted the defendant as charged and ordered the forfeiture of the undeclared money to the Federal Government in line with the provisions of the Money Laundering (Prevention and Prohibition) Act of 2022.

“The Service reiterates that all travellers must comply with Nigeria’s financial regulations, particularly the legal requirement to declare any cash or negotiable instruments exceeding the approved threshold when travelling in or out of the country. The Money Laundering (Prevention and Prohibition) Act of 2022 and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995, provide clear guidelines on currency declaration. Non-compliance with these regulations constitutes a violation of Nigerian law and attracts severe penalties. The Service, therefore, urges the public to adhere strictly to these requirements to avoid legal consequences.

“Under the leadership of the Comptroller-General of Customs, Bashir Adewale Adeniyi, the NCS remains resolute in its enforcement efforts to combat smuggling, illicit financial transactions, and other trans-border crimes.

“This latest seizure highlights the Service’s unwavering dedication to protecting the nation’s economic interests and ensuring compliance with financial regulations.

“The NCS will continue to collaborate with relevant government agencies and stakeholders to strengthen border security, enhance compliance with financial laws, and safeguard Nigeria’s economy.

“Travellers and stakeholders in the financial sector are advised to remain vigilant and always adhere to lawful financial practices,” he added.

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