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Economic Challenges: Presidency Lacks Credible Defence for Tinubu’s Failures by Paul Ibe

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…Atiku offered better policy options to Tinubu’s morbid prescriptions

The Presidential Spokesman, Bayo Onanuga, failed to provide a credible defence of Bola Tinubu’s failures in tackling the economic challenges facing the country. In his characteristic manner, he resorts to insults and name-calling. He demonstrates ignorance of the happenings around him – as he denies, for example, that Bola Tinubu’s policies are creating excruciating pain and causing despair. We wish to respond to him as follows.

Point 1: Did Atiku Abubakar offer any better policy options in his run for the presidency?

Yes, he did. His living prescriptions contrast sharply with Bola Tinubu’s morbid policies. Atiku’s policy document, My Covenant With Nigerians, offers a clearly defined and robust roadmap for the socio-political and economic transformation of Nigeria. On the economy, the policy document outlines the challenges we face and our vision to get the economy on its feet and create prosperity.

If Bayo desires, he can have a copy for free!

Point 2: That all the major presidential candidates supported withdrawal of subsidy on PMS.

But so, what? Even if all the major candidates agreed that the fuel subsidy regime must end and that the multiple exchange rates must be fixed, this would not translate into endorsing Bola Tinubu’s failures in implementation. The truth is that unlike Atiku, Bola Tinubu did not understand the reforms he embarked upon and had no idea what steps to take to mitigate their negative impact.

As a leader with foresight, Atiku anticipated that the withdrawal of subsidy and the unification of exchange rates could, in the absence of fundamental interventions, impact negatively on micro and small enterprises in the informal sector. He anticipated that such policies could elevate the levels of vulnerability and deprivation of poor families. including the youth and adults with no incomes.

The former Vice President, therefore, pledged to support Nigeria’s businesses by creating an Economic Stimulus Fund with an initial investment capacity of approximately US$10 billion to prioritize support to MSMEs across all the economic sectors, as they offer the greatest opportunities for achieving inclusive growth. The Fund was designed to make it easier for Nigeria’s 60 million micro and small enterprises to navigate the stormy seas in the aftermath of the withdrawal of subsidy on PMS.

In contrast, Bola Tinubu offered a paltry N125 billion to help the MSMEs, which at today’s exchange rate is no more than US100 million. Of course, Bayo Onanuga is aware that the pledge is yet to be redeemed by the president.

Atiku also pledged to implement a robust social investment programme to support the poor and vulnerable with CCTs. Atiku’s support to the poor and vulnerable would include prioritized actions to address the challenges of displacement and the sufferings of IDPs across the country.

In contrast, the funds for Tinubu’s CCT were cornered by his officials in the Ministry of Humanitarian Affairs.

Alongside the Economic Stimulus Fund, Atiku pledged to launch a uniquely designed skills-to-job programme that would target all categories of youth, including graduates, early school leavers as well as the massive numbers of uneducated youth who are currently not in education, employment, or training.

As a leader of vision, Atiku was ready for the potential fallout of his policies. Bola Tinubu was clearly not ready. It was only after he unleashed his morbid reforms that he started groping in the dark, looking for solutions. We all recall that in October 2023, the Financial Times of London rebuked Bola Tinubu for announcing plans without ideas for how to implement them.

Point 3: Is the private sector not overburdened by Bola Tinubu’s failure to address the aftermath of his policies?

Would Bayo Onanuga deny that Unilever, GlaxoSmithKline (GSK), Procter & Gamble (P&G), Sanofi-Aventi Nigeria, Bolt Food, Equinor etc had exited Nigeria citing reasons including foreign exchange complexities, security concerns, and high operational costs?

Bayo Onanuga must be living in a dream world outside the shores of Nigeria.

Point 4: Is Bayo denying that cost-of-living pressures have intensified since May 2023?

He needs to read the official statistics from the National Bureau of Statistics: The annual inflation rate reached a nearly 30-year high of 28.9% in December 2023, up from 28.2% in November.

Would Bayo Onanuga deny that food prices, which constitute a significant portion of the Consumer Price Index (CPI) basket, soared to 33.9% in December, the highest level since August 2005? Would he also deny that in many states of the federation, citizens have blocked roads in protest? Just yesterday morning (Monday, February 5), it was reported that hundreds of residents of Minna in Niger State blocked major roads to protest hunger and the high cost of living in the country.

Only failed leaders play the ostrich and live in self-denial.

Point 5: The Presidency’s response is full of lamentations and resorted to blame game. It is a familiar road travelled by the ruling party!

It has become fashionable for every APC-led government to blame others, especially the opposition and external factors for Nigeria’s economic woes. Now, Tinubu is elevating the blame game to the NEXT LEVEL as he accuses his own party of lacklustre performance.

The evidence, however, is overwhelming. Tinubu’s under-performance is largely attributable to leadership failures in the management of the economy. The failure of leadership by the APC-led government is staring every Nigerian in the face as the country’s economic, social, political, and security challenges persist and assume frightening dimensions.

An unprepared leadership such as Bola Tinubu’s fails to anticipate impending crisis and is always slow to react.

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Waterfront Summit: KPV Founder Engages Lagos Commissioner on Sustainable Coastal Future

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Prince Adegboyega Adekoya has expressed deep commendation for the Honorable Commissioner for Waterfront Infrastructure Development, Dayo Bush Alebiosu, following a strategic engagement at the recently held Waterfront Summit in Lagos.

Prince Adekoya described the conversation with the Commissioner and key members of the Lagos State Ministry as inspiring and forward thinking, praising Alebiosu’s visionary leadership in championing a sustainable coastal future for Lagos State.

According to Adekoya, the discussions went far beyond infrastructure. They centered on the need for holistic coastal development one that places people, culture, and the long-term continuity of Lagos at the core of every project and policy direction.

He noted that his commitment to this cause is both personal and ancestral.
“It is my prerogative, birthright, and royal duty to safeguard the waters, lands, and shining sands my ancestors protected,” he stated.

Adekoya also emphasized his role as a key stakeholder and founder of KPV Global Network, a thriving community of creatives. He affirmed that the network is strategically positioning the creative sector as a strong driver of Nigeria’s bold moves in global culture, tourism, and creative diplomacy.

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Again, Fayose Makes Scathing Remarks Against Obasanjo Hours After Former President Attended His Birthday

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Former President Olusegun Obasanjo and ex-Ekiti State governor, Ayodele Fayose, on Monday renewed their old enmity, with Fayose raining insults on the 89-year-old ex-president, whom he declared “belongs in the zoo”.

The feud between the duo dates back to the beginning of the Fourth Republic, when Obasanjo was president and Fayose was governor in Ekiti State.

Obasanjo had sent the Economic and Financial Crimes Commission after Fayose over a poultry project embarked upon by Fayose, which Obasanjo declared was fraught with corruption.

The relationship between them has been frosty over the years, with Fayose seizing any chance to lash out at Obasanjo, alleging his Olusegun Obasanjo Presidential Library in Ogun State is a product of corruption.

Fayose repeatedly demanded that Obasanjo return his N10m contribution to the building of the library.

However, in a dramatic twist, ahead of his 65th birthday last week, Fayose had visited Obasanjo in his Ogun home and invited the ex-president to the birthday.

 At the birthday party in Lagos, however, Obasanjo, who was the Special Guest of Honour, recounted how  Fayose had abused him severally in the past without batting an eyelid.

He explained that despite asking for forgiveness from him several times, Fayose would still go ahead to abuse him in a display of arrogance.

 The former President said he was surprised that Fayose would be bold enough to invite him to the birthday.

 Addressing the gathering,  Obasanjo said, ”Some people called me and said that we heard that you are going to attend Fayose’s 65th birthday, have you forgotten how he abused you? But I said that they should not worry, irrespective of his character, he remains one of my children. The Yoruba will say ‘Won kii le omo buburu f’ekun paje’, meaning that you won’t say your child is bad and offer him to a tiger to devour.

 “But you are not the best of my political children, you’re not, but you have made achievements that must not be ignored.”

Obasanjo said, haunted by his past acts, Fayose could not, at first, directly approach him to invite him to his birthday, but instead sent  a former minister, Osita Chidoka, “to come and sound me out.”

“You could not come to me directly because you knew that you had not done so well by me,” Obasanjo said, “‘Bi iwo ba se rere, ara ki o a ya o’. So, I told Osita to tell you that he had delivered the message you sent him to me. You later phoned me and I said that you could come to see me at any time.

“Even at that, you could not come directly to knock at my door; you took precautions, you sent Foluso ahead of you, who came before you, to gauge my feelings and pulse, after which you arrived about an hour later.

“When you came to me, you called your wife, and while on the phone with your wife, I said that the two of you have not done well. Mo ni eyin meejeji kii s’omoluwabi; and your wife completely disarmed me.

“She said, ‘Yes, Baba, you are right, please forgive us,’ and what else can I do? You have asked for forgiveness, and I have forgiven you, but the right lesson must be learned.”

Obasanjo then launched into his past relationship and feud with Fayose.

Quoting Romans 12 vs 15, Obasanjo said the Bible enjoins Christians to “mourn with those who are mourning, while we should also rejoice with those rejoicing.”

He said, “Like I said, that we are here to thank God for his mercy and faithfulness, you must always understand that you’re who you are and where you are by the special grace of God, and so you must always give praise to him.

“I also said that we are here for stock taking, part of what you yourself have said. I knew you, and I was with you because of the initiative you took to give water to the people of Ekiti State at that time; you will remember this vividly. It was this initiative that set you apart and made me fall in love with you.

“I didn’t know you from anywhere before that time; it was S. K. Babalola that I knew and was going to support for the 2003 governorship because of his track record with the Nigerian Union of Teachers.

“However, I later pitched a tent with you and dumped Babalola, who, in any case, was also not a member of our party, PDP, then. You remember that we were at Efon Alaye to campaign, and one of their challenges there was erosion, which we promised to fix, and we fulfilled our promise.

“Ayo, there is a difference between being courageous, being bold and being foolhardy. Courage, boldness and foolhardiness do not go together.

“There is also the virtue of humility, which goes with humility. Humility is one of the virtues that mark out our character in Nigeria, particularly the people of Yoruba land. Integrity is also another virtue. We had a campaign and, by the grace of God, you won the election.

“And when you won, you wanted to do a lot of good things. One of those things was to help the farmers. When you came to me, I said that if you wanted to help the farmers, one of the things you could do is to either subsidise the chicks or the feeds and not that, as a government, you will say you are establishing a poultry farm.

“I said that Gomboro could come, and within the time the memo to buy this and that was still going from the table of one government official to another, the disease would have cleared all the chicks. And you will remember this story, I came to your farm and I saw the chicks that were about two weeks old with their shavings very neat and asked, ‘Ayo, se awon adiye tiyin ki yagbe ni’  (Don’t your own type of chicks excrete?).

“And your brother, Oyinlola, the then governor of Osun State, was telling you right there, ‘I told you that if he (Obasanjo) doesn’t know anything, he knows about poultry’.

 “You also remember that, before this issue about poultry, some came to say that you did not go to Olivet Baptist School, Oyo, but I knew that you went to the school and finished there. We can see those who were your mates and those who were your seniors, so that is unlike some people, who we really don’t know the school that they attended.

“If you remember, you and your wife came to me at Oyinlola’s house and begged for forgiveness for all that you had said to me, and I said that I had forgiven you, but you never stopped. You also came to my house and apologised. I said that I had forgiven you, but you still didn’t stop.

“Ayo, I did not ask you to contribute to my library, or did I? The governors decided, and you joined them. I never begged you for money for anything except when you came last week, on Tuesday.

“I told you that since you will make me abort my trip from Kigali, Rwanda and come back on Saturday when I was supposed to be back on Sunday, you would be the one to pay for that because I can’t be using my retirement money for such.

“But if it will be of interest to you, it was Alhaji Aliko Dangote who sent the plane that brought me back to the country. So, the money you sent through Foluso is still with me. I have kept everything intact.

“Obviously, part of why you have called me to this occasion is to make things right with those whom you might have offended. I also want to urge you to still think about those people you have offended and call them for a truce. Forgiveness and repentance are quite important.

“You must repent from all misconduct because we must begin to prepare for heaven, because no one will escape the judgment of God. Please join me in singing this song, ‘Ope mi ko i to, ojojumo ni o ma dupe…’”

Clearly angered by Obasanjo’s remarks, Fayose, on Monday, sent the ex-president a “Thank You” text message, filled with insults.

The Punch

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Dan Agbese, Newswatch Co-Founder, Dies at 81

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One of the founders of Newswatch magazine, Chief Dan Agbese, is dead.

According to a statement issued by the Agbese family of Ikpilogwu clan of Agila district, Ado Local Government Area of Benue State, he died on Monday.

“We hereby announce the passing away of our husband, father, grandfather, brother, uncle and mentor: Chief Dan Agbese, the Awan’Otun of Agila.”

“Chief Agbese transited to eternal glory this morning, Monday November 17, 2025. He was aged 81.

“Burial arrangements would be announced by the family in due course.

“Born May 12, 1944 in Agila, Chief Agbese was a renowned journalist and author, famous for his seminal contributions to journalism practice in Nigeria and renowned for his satirical columns.

He was editor of The Nigeria Standard and New Nigerian newspapers, and General Manager of Radio Benue, Makurdi.

“Chief Agbese was one of the founders of the trail-blazing Newswatch magazine and was until April 2010 its Editor-in-Chief.

“Before his passing, he wrote several books and maintained weekly columns in notable newspapers including the Daily Trust and The Guardian, while running a media consultancy with his friends and colleagues, Ray Ekpu, Yakubu Muhammed and Soji Akinrinade.

“He is survived by his wife , Chief Rose Agbese, their six children, and seven grandchildren.”

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