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Hardship: Okonjo-Iweala Advises Tinubu to Provide Social Safety Nets for Poor Nigerians

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The Director General of World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has called on the Federal government to put social safety nets in place for poor Nigerians who are feeling the pains of President Bola Tinubu’s economic reforms.

Okonjo-Iweala stated this on Thursday after a meeting with the president at the Aso Villa in Abuja.

Though she commended the president for the economic reforms including petrol subsidy removal and the unification of the foreign exchange windows, the former Nigerian finance minister said the government must put social safety nets in place for poor Nigerians to cope with the economic hardship occasioned by the government’s reforms.

In a chat with journalists after her meeting with the president, the WTO boss said: “We think that the President and his team has worked hard to stabilised the economy. You cannot really improve an economy unless it is stable. So, he has to be given the credit for the stability of the economy. The reforms have been in the right direction.

“What is needed next is growth; we now need to grow the economy and we need to put in social safety nets so that people who are feeling the pinch of the reforms can also have some supports to weather the hardship. That’s the next step.”

Tinubu, who launched a string of economic reforms when he assumed office in May 2023, has come under heavy criticisms in over two years, as many Nigerians have attributed soaring food inflation and skyrocketing cost of living to majorly his removal of petrol subsidy and the unification of foreign exchange windows.

Angry citizens have held a number of rallies to protest the hardship faced by the middle class and ordinary citizens in the last two years, the most prominent of them being the hunger protests or #EndBadGovernance demonstrations of August 2024.

The Nigerian president’s meeting with Okonjo-Iweala came two weeks before the expiration of her first term as WTO boss on August 31, 2025, and the commencement of her second term on September 1, 2025.

The renowned development economist and global finance expert made history in 2021 as the first African and first woman to lead the 164-nation-member WTO.

The WTO boss, who was in company of Trade Minister Jumoke Oduwole, also briefed the president on the progress made on the Women’s Exporters’ Fund for the digital economy.

Okonjo-Iweala said, “We came to brief him about something very joyful that we did today with the help of the first lady.

“We launched a Women’s Exporters’ Fund for the digital economy. This is a fund that is jointly managed by the World Trade Organisation and the International Trade Centre and support women to weather the storms of the economy and create jobs for themselves.

“It is part of the thinking of social safety net and what we can do to support Nigerian women to contribute more to the economy and to themselves.

“Nigeria competed and one, one of four countries that won globally to be part of this initiative.

“We have 67,000 Nigerian women who applied for this and 146 of them won and they are going to have money disbursed directly to them.

“16 of them won what we called the Booster Track; those who already have businesses but their businesses would be scaled up. They would receive technical and business supports from the WTO and the ITC for 18 months.

“Another 100 would get $5,000 each to start and strengthen their businesses, with 12-month reforms.”

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Falana Asks Gbajabiamila to Step Aside for Probe over Alleged PFIPC Fraud

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Human rights lawyer, Mr. Femi Falana (SAN) has charged President Bola Tinubu’s Chief of Staff (CoS), Femi Gbajabiamila, to step aside and give room for investigation into the allegation of fraud involving his office and the self-acclaimed Director General of the Presidential Foreign Intervention Promotion Council (PFIPC), Adeniyi Adeyemi.

On June 11, 2026 Gbajabiamila denied knowledge of Adeyemi when he presented himself as the Director General of PFIPC which he claimed was non-existent.

Gbajabiamila said he petitioned security agencies in October 2025 after forged appointment letters surfaced and Adeyemi was later charged before the Federal High Court for forgery, impersonation and obtaining by false pretence.

In his reaction, Adeyemi dismissed all the allegations against him, saying he was ready to clear his name in court.

Adeyemi called for an independent panel from Tinubu because those behind the allegations were trying to silence him, stressing that Gbajabiamila issued him an appointment letter.

However, Falana said the Presidency has explanations to make to Nigerians on Adeyemi’s travail.

Speaking on Eagle 102.5 FM, Falana insisted that the presidency has exposed Nigeria to “unprecedented ridicule.

He said: “How did an agency that is not created by law find its way into the Appropriation Act of Nigeria? How did that body get an office in the Federal Secretariat? How did that body successfully open accounts in the Central Bank of Nigeria?

“How did the Head of Service post about 300 staff to that office? The government will have to explain to Nigerians how a sum of N24 billion was budgeted for an unknown agency, as well as how that agency had accounts with the Central Bank of Nigeria.

“If this is a conman that can con the Presidency into issuing a letter of appointment, con the Central Bank into opening accounts, con the National Assembly into inserting the agency into the budget, I think the government is kidding.”

Falana said the National Assembly must explain how an “agency unknown to law” was inserted into the budget. Citing Section 81 of the Constitution, he noted that appropriation bills originate from the Executive.

“You cannot have an agency that is not created by law in the budget of a country.

“The government has a duty to ask Mr. Gbajabiamila to step aside to allow for a full investigation in the interest of the country and even in his own interest.”

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Over 17 Million Nigerians from Nine Northern States Are Facing Hunger Crisis, Says United Nations

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The United Nations World Food Programme has warned that conflict in northern Nigeria, together with shrinking humanitarian assistance, is driving a food crisis to levels not seen in nearly a decade.

It said recent data showed that more than 17 million people across nine conflict-affected states are experiencing crisis, emergency, or catastrophic levels of hunger.

“Across all of northern Nigeria we have been seeing an increase and spread in insurgent attacks and violence,” said Serigne Loum, WFP’s Deputy Country Director in Nigeria.

“Families are being forced from their home and it’s getting harder for WFP to access people who urgently need food assistance,” he said.

Nigeria has been battling a jihadist insurgency centred in the north-east since 2009, with a resurgence in violence since 2025.

Jihadists have also been expanding into the north-west, which is already facing a separate, overlapping crisis from armed “bandit” gangs.

The WFP said the expanding conflict is forcing more people from farmland, driving displacement, and restricting humanitarian access.

Aid cuts under US President Donald Trump and other western countries have hit some of Nigeria’s poorest households in recent years.

Habiba, a displaced mother with a young baby in Borno States, said sometimes they do not get food “for two nights” while occasionally they get only one meal.

“And when children keep going hungry, it’s hard to be with them awake with nothing. That’s how I gave birth to this baby, in this situation of total lack,” she said.

The WFP said that, at the same time, the number of locations inaccessible to its frontline staff has doubled while cargo movements along major routes are increasingly disrupted by attacks and illegal checkpoints.

It said the suspension of food assistance is driving people towards desperate coping strategies, including cases of individuals joining armed groups in search of food or income.

In some camps, the lack of food aid due to funding shortfalls has triggered an alarming escalation in exploitation and gender-based harm that is particularly impacting women and children.

The WFP said it needs $89 million over the next six months to continue food and nutrition assistance across northern Nigeria before hunger deepens further.

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Finance Minister Oyedele Defends Tinubu’s Borrowings, Says ‘It’s Not Immoral’

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Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, says the borrowing policy of the Federal government is not immoral, stating that debt should be viewed as a strategic financial tool for economic growth rather than a moral failing.

Oyedele stated this on Tuesday at the 2026 Annual Conference of the Capital Market Academics of Nigeria (CMAN), advocating the establishment of a dedicated Commercial Dispute Resolution Tribunal to fast-track the resolution of business disputes and improve Nigeria’s investment climate.

He argued that public criticism of government borrowing often ignores the more critical issue of how borrowed funds are utilised.

The minister added that the key consideration is not the size of a country’s debt but whether borrowed funds are invested in productive ventures capable of generating returns that exceed the cost of borrowing.

“The Federal government’s borrowing is not immoral. In much of our public discourse, debt is spoken of as a moral failing rather than a financial instrument.

“The relevant question is never simply how much debt. It is always debt for what, at what cost, against what return, and repaid on what terms,” he said.

According to him, governments, businesses and individuals should embrace responsible borrowing when it is used to finance productive investments, warning that refusing to borrow under such circumstances amounts to a missed economic opportunity.

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