Economy

Withdraw your divisive comments and apologise, Federal Govt tells Obasanjo

Published

6 years ago

May 21, 2019

Eric

The federal government has asked former President Olusegun Obasanjo to withdraw his recent divisive comments, imputing ethno-religious motive to Boko Haram, ISWAP, and as well apologise to Nigerians.

In a statement issued in Abuja on Tuesday, the Minister of Information and Culture, Alhaji Lai Mohammed, said, such “indiscreet, deeply offensive and patently divisive comments are far below the status of an elder statesman”.

”It is particularly tragic that a man who fought to keep Nigeria one is the same one seeking to exploit the country’s fault lines to divide it in the twilight of his life”.

The minister said Boko Haram and ISWAP are terrorist organisations pure and simple, adding that they care little about ethnicity or religion when perpetrating their senseless killings and destruction.

”Since the Boko Haram crisis, which has been simmering under the watch of Obasanjo, boiled over in 2009, the terrorist organisation has killed more Muslims than adherents of any other religion.

“The terrorist group blown up more mosques than any other houses of worship and is not known to have spared any victim on the basis of their ethnicity.

“It is therefore absurd to say that Boko Haram and its ISWAP variant have as their goal the ‘Fulanisation and Islamisation’ of Nigeria, West Africa or Africa,” he said.

The minister said President Muhammadu Buhari put to rest the mis-characterization of Boko Haram as an Islamic organisation when he said, in his inaugural speech in 2015, that ”Boko Haram is a mindless, godless group who are as far away from Islam as one can think of”.

He reiterated that Obasanjo’s comments were, therefore, “as insensitive and mischievous as they are as offensive and divisive in a multi-ethnic and multi-religious country like Nigeria”

“It is wondering whether there is no limit to how far the former President will go in throwing poisonous darts at his perceived political enemies.

The minister noted that Obasanjo’s prescriptions for ending the Boko Haram/ISWAP crisis, which include seeking assistance outside the shores of Nigeria, are coming several years late.

He said President Buhari had done that and more since assuming office, “hence, the phenomenal success he has recorded in tackling the terrorists”.

”Shortly after assuming office in 2015, President Buhari’s first trips outside the country were to rally the support of Nigeria’s neighbours – Benin, Cameroon, Chad and Niger – for the efforts to battle the terrorists.

“The President also rallied the support of the international community, starting with the G7, and then the US, France and the UN.

”That explains the massive degrading of Boko Haram, which has since lost its capacity to carry out the kind of spectacular attacks for which it became infamous, and the recovery of every inch of captured Nigerian territory from the terrorists,” he said.

He also noted that Obasanjo’s call for wide consultations with various groups as part of the efforts to tackle the Boko Haram crisis has been neutralised by his ill-advised comments which have served more to alienate a large number of Nigerians, who are offended by his tactless and distasteful postulation.

The Minister called on the former President, whom he said took bullets for Nigeria’s unity, not to allow personal animosity to override his love for a united Nigeria.

Economy

My Policy on Fuel Subsidy Removal Yielding Results, Says Tinubu

Published

3 weeks ago

March 11, 2025

Eric

President Bola Tinubu has declared that his fuel subsidy removal policy is yielding the desired results, pointing out that prices are gradually declining.

The President also asserted that investors are increasingly showing interest in the Nigerian economy, a development he attributed to the removal of fuel subsidies, a policy introduced on 29th May 2023.

Tinubu made these remarks on Monday while inaugurating the National Youth Council at the Presidential Villa, Abuja.

Addressing the youths, Tinubu emphasised that while politicians will always be politicians, true leadership is about fostering development that benefits future generations.

He urged Nigerian youths to take advantage of the opportunities being created by the government, particularly in the ICT sector, to contribute to national development.

Tinubu said: “I have listened to you. Today is not for long speeches. I just want to reassure you that you are the hope of this country. Everything rests on your shoulders. Every decision I have taken is about you and the future.

“When we removed the fuel subsidy, we were securing a future for generations yet unborn. Where is the investment? Where is the infrastructure? When you hear many professionals say they want to ‘JAPA’, it is because prosperity is not widespread at home. If we create opportunities and empower our people, they will have no reason to leave.

“This is your country to develop, build, and prosper in. The government is fully committed to you. Take this seriously. You can criticise politicians all you want, but ultimately, politics is about development and securing a future for the next generation.

“At the beginning, it seemed uncertain, difficult, and even hopeless. It felt like drawing water from a dry well. But today, the economy is turning a corner. Prices are falling, confidence in our economy is improving, and investors are showing interest. Technology is advancing, and you have opportunities before you.”

The President reminded the youths that they have a crucial role in advancing the nation’s development.

“It is all in your hands. My role is to help navigate, push, and implement key programmes to clear the path for you. But it is up to you to seize the moment. Look me in the eye and tell me what you think—whether it is right or wrong—and offer suggestions. We will consider them as long as they contribute to the prosperity of this country.

“I assure you that we will do everything possible to make Nigeria a better place for you, but we cannot do it alone. You represent over 60 per cent of our population. You are the heartbeat of our nation, and I hope you take this opportunity very seriously,” he said.

Economy

Naira Gains over Dollar for Three Straight Days in Parallel FX Market

Published

1 month ago

February 15, 2025

Eric

The Naira recorded three consecutive days of appreciation against the dollar in the parallel foreign exchange market, ending the week on a high note on Friday.

According to Abubakar Alhasan, a Bureau de Change operator in Wuse Zone 4, Abuja, the Naira strengthened to N1,565 per dollar on Friday, up from N1,570 on Thursday.

On a day-to-day basis, the Naira gained N5 against the dollar compared to the N1,570 traded on Thursday.

In the last three days, the Naira has gained N15 against the dollar in the black market.

In contrast, in the official market, the Naira continued to depreciate as of Thursday, according to data from the Central Bank of Nigeria.

The apex bank’s exchange rate data showed that the Naira fell to N1,507.88 per dollar on Thursday from N1,504.30 on Wednesday.

Overall, exchange rate movements across FX markets showed that the Naira ended the week with mixed sentiments of losses and gains against other foreign currencies.

Economy

NASS Passes Tinubu’s N54.99tr 2025 Budget Proposal

Published

1 month ago

February 13, 2025

Eric

The National Assembly, on Thursday passed, the N54.99trillion 2025 Appropriation Bill.

The bill was passed separately by the Senate and the House of Representatives.

A breakdown of the budget showed N3.645trillion for statutory transfers, N14.317trillion for debt servicing, N13.64trillion for recurrent expenditure and N23.963trillion capital expenditure (development fund), with fiscal deficit put at N13.08trn.

The Deficit-to-Gross domestic product (GDP) Ratio was put at 1.52%.

Last Week, President Bola Tinubu increased the 2025 fiscal year budget from an initial N49.7trillion to N54.2trillion, seeking approval from the Senate and the House of Representatives.

Chairman of the House Committee on Appropriations, Abubakar Bichi, while presenting the bill for consideration, stated that the committee met with the Presidential Economic Planning team to further discuss revenue projections and expenditure for the 2025 Appropriation Bill.

According to him, the 2025 Appropriation Bill was presented late, compared to that of 2024.

He urged the executive to present subsequent budgets to the National Assembly not later than three months before the next financial year, to maintain the January to December budget cycle.