General
Low Confidence, Uncertainty as President Tinubu Marks One Year in Office
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.
By Modupe Gbadeyanka
The Media and External Relations Lead of United Bank for Africa (UBA) Plc, Mr Abiodun Coker, has been crowned the Future Leader in Media Management.
He clinched this award at The Industry Summit/Awards held on Friday, May 2, 2025, in Lagos, with several persons from across all sectors in attendance.
Mr Coker’s recognition further cements his growing reputation as one of Nigeria’s most dynamic and future-ready communications leaders, with his eyes firmly set on redefining the media management landscape.
The award jury, chaired by Mr Tolulope Ogunjobi, a renowned broadcast business correspondent and Business Editor at TVC News, said Mr Coker was bestowed with the honour because of his exceptional achievements in the public relations field during the year 2024.
The team said one of them was his masterful handling of UBA’s 2024 rights issue, which successfully closed on December 24, 2024, and the impactful execution of the bank’s 75th Anniversary Campaign, both of which were described as commendable and exceptional.
According to the jury, his management of UBA’s media ecosystem during the year under review was remarkable, with several media professionals praising his public relations craftsmanship and ability to skilfully manage the image of one of Africa’s most formidable financial brands.
“Abiodun Coker’s achievements in 2024 are a beacon for greater accomplishments ahead. He is undoubtedly one of the strategic communication experts to watch in 2025,” the jury noted.
A seasoned professional, Mr Coker’s journey from an acclaimed financial journalist at BusinessDay Newspapers to a powerhouse in corporate communications has been nothing short of inspiring.
With over eight years of robust journalism experience, coupled with leadership roles at top-tier public relations firms such as BD Consult Ltd and Quadrant, he has consistently demonstrated his ability to transform and manage leading brands successfully.
Organized by The Industry Newspaper, the leading brand marketing publication in West Africa, the prestigious awards recognize outstanding professionals shaping the future of brand marketing and communications across the region.
By Adedapo Adesanya
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has reiterated the federal government’s commitment to fostering a more enabling investment climate, anchored on macroeconomic stability, structural reform, and a clear pathway to inclusive prosperity.
He gave this assurance at a high-level private dinner, organized by Kuramo Capital Management Lagos as part of Africa Venture Capital Week.
The Minister lauded Kuramo Capital and its partners for their steadfast belief in Africa’s promise and highlighted the alignment between private capital and Nigeria’s renewed hope reform agenda.
According to a statement, participants recognized the vital role of blended finance and innovation in driving sustainable development.
The event brought together a distinguished group of global investors, development partners, and business leaders for a candid exchange on unlocking long-term capital for Africa’s growth and transformation.
It also marks Kuramo Capital’s first formal convening in Nigeria in several years, underscoring a renewed sense of commitment to deepening its strategic footprint across the continent.
Mr Edun said with this renewed commitment, the federal government is poised to unlock new opportunities for economic growth, investment, and inclusive prosperity.
He also called for more investment into the country, assuring participants that the right mechanisms are being put in place towards driving Nigeria’s development and improving the lives of its citizens.
By Adedapo Adesanya
The federal government is fast-tracking the implementation phase of its economic and financial inclusion strategy aimed at improving access to economic opportunities for Nigerians.
This was disclosed by the Deputy Chief of Staff to the President, Mr Ibrahim Hadejia, at the inaugural meeting of the Technical Committee of the Presidential Committee on Economic and Financial Inclusion (PreCEFI).
He said that “Financial inclusion is not just about having a bank account—it means access to quality services, credit, and the visibility that digital platforms offer.”
The meeting was held at the Presidential Villa, Abuja, on Wednesday.
The federal government established an inter-agency task force to address challenges delaying President Bola Tinubu’s approved conditional cash transfers to 15 million vulnerable households.
The task force includes the National Identity Management Commission (NIMC), National Social Safety-Nets Coordinating Office, National Cash Transfer Office (NCTO), Central Bank of Nigeria (CBN) and Nigeria Inter-Bank Settlement System (NIBSS).
The mandate of the taskforce goal is to unlock bottlenecks and fast-track the distribution of critical financial support to Nigeria’s most vulnerable.
The meeting also endorsed steps to work with state governments in localising data from the Enhancing Financial Innovation and Access in Nigeria (EFInA) Access to Financial Services survey – a biennial study conducted by the EFInA.
Mr Hadejia explained that the meeting brought together high-level stakeholders from government agencies, financial institutions, and academia to align on the President’s vision and execution roadmap.
“We are off to a very good start. What has led to the success of what we’ve done so far is alignment and inclusive stakeholder engagement,” he said.
On hsi part, the committee’s Secretary, Mr Nurudeen Zauro, said the meeting also approved PreCEFI’s strategic roadmap and governance structure.
Mr Zauro, who is also the Technical Advisor to the President on Financial Inclusion, said ” an inter-agency committee has been established to address delays in the disbursement of conditional cash transfers to 15 million households as mandated by President Tinubu.
“We will be presenting the report to the National Economic Council and the Nigerian Governors Forum to ensure data is domesticated and acted upon at the subnational level.”
Also, Director-General of NIMC, Mrs Abisoye Coker-Odusote, explained that digital identity plays a foundational role in achieving inclusion goals.
“The beauty of the NIN is that it bridges the financial divide. It provides access to health, education, and agricultural services and strengthens national data infrastructure,” she said.
The Director of Consumer Protection and Financial Inclusion at the CBN, Mrs Aisha Isa-Olatinwo, urged the committee to focus on implementable outcomes that serve those at the base of the pyramid.
According to her, financial inclusion is one of the eight reform pillars of the President’s agenda.
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