News
Tinubu: I came To Help, Not Hurt Nigerians, Economy
- Channels N200bn to Foods; Transport N100bn
President Bola Ahmed Tinubu, this evening, vows to improve the welfare and living conditions of Nigerians through his economic reforms, saying, “I plead with you to please have faith in our ability to deliver and in our concern for your well-being.
Tinubu, in his national broadcast on the current economic challenges, assures Nigerians that ” We will get out of this turbulence. And, due to the measures we have taken, Nigeria will be better equipped and able to take advantage of the future that awaits her.”
He further urges the led, to look beyond the present temporary economic pains and aim at the larger picture ahead , stressing : ” I came here to help not hurt the people and the nation that I love.”
He acknowledged that although Our economy is going through a tough patch and Nigerians are being hurt by it, ” AFTER DARKNESS COMES THE GLORIOUS DAWN.”
Consequently, in order to ensure that foods are available and affordable, Tinubu has ordered the release of 200,000 Metric Tonnes of grains from strategic reserves to households across the 36 states and FCT to moderate prices.
He said that the government is also providing 225,000 metric tonnes of fertilizer, seedlings and other inputs to farmers who are committed to our food security agenda.
Our plan to support cultivation of 500,000 hectares of farmland and all-year-round farming practice remains on course.
To be specific, N200 billion out of the N500 billion approved by the National Assembly will be disbursed as follows:
-Our administration will invest N50 billion each to cultivate 150,000 hectares of rice and maize.
-N50 billion each will also be earmarked to cultivate 100,000 hectares of wheat and cassava.
This expansive agricultural programme will be implemented targeting small-holder farmers and leveraging large-scale private sector players in the agric business with strong performance record.
Investing N100bn on CNG fuel buses
” We have made provision to invest N100 billion between now and March 2024 to acquire 3000 units of 20-seater CNG-fuelled buses.
These buses will be shared to major transportation companies in the states, using the intensity of travel per capital. Participating transport companies will be able to access credit under this facility at 9% per annum with 60 months repayment period.
His words: “The cost of fuel has gone up. Food and other prices have followed it. Households and businesses struggle. Things seem anxious and uncertain. I understand the hardship you face. I wish there were other ways. But there is not. If there were, I would have taken that route.
” Fellow Nigerians, I made a solemn pledge to work for you. How to improve your welfare and living condition is of paramount importance to me and it’s the only thing that keeps me up day and night.
“All of our good and helpful plans are in the works. More importantly, I know that they will work,” he said.
He explains that the decision by his government to have removed fuel subsidy and the preferential exchange rate system were taken to combat the serious economic challenges this nation has long faced.
” For several years, I have consistently maintained the position that the fuel subsidy had to go. This once beneficial measure had outlived its usefulness.
“The subsidy cost us trillions of Naira yearly.
Such a vast sum of money would have been better spent on public transportation, healthcare, schools, housing and even national security.
Instead, it was being funnelled into the deep pockets and lavish bank accounts of a select group of individuals.
This group had amassed so much wealth and power that they became a serious threat to the fairness of our economy and the integrity of our democratic governance.
To be blunt, Nigeria could never become the society it was intended to be as long as such small, powerful yet unelected groups hold enormous influence over our political economy and the institutions that govern it.
The whims of the few should never hold dominant sway over the hopes and aspirations of the many. If we are to be a democracy, the people and not the power of money must be sovereign.
The preceding administration saw this looming danger as well. Indeed, it made no provision in the 2023 Appropriations for subsidy after June this year. Removal of this once helpful device that had transformed into a millstone around the country’s neck had become inevitable.
Also, the multiple exchange rate system that had been established became nothing but a highway of currency speculation. It diverted money that should have been used to create jobs, build factories and businesses for millions of people.
Our national wealth was doled on favourable terms to a handful of people who have been made filthy rich simply by moving money from one hand to another. This too was extremely unfair.
It also compounded the threat that the illicit and mass accumulation of money posed to the future of our democratic system and its economy.”
I had promised to reform the economy for the long-term good by fighting the major imbalances that had plagued our economy. Ending the subsidy and the preferential exchange rate system were key to this fight. This fight is to define the fate and future of our nation. Much is in the balance.
Thus, the defects in our economy immensely profited a tiny elite, the elite of the elite you might call them.
As we moved to fight the flaws in the economy, the people who grow rich from them, predictably, will fight back through every means necessary.
Crime
Alleged money laundering: Yahaya Bello’s name not on property documents, EFCC witness tells court
Case adjourned to March 6, 7 for continuation of trial
The Federal High Court, Abuja, on Monday, adjourned the money laundering case instituted by the Economic and Financial Crimes Commission against the immediate past Governor of Kogi State, Yahaya Bello, to March 6 and 7, 2025, for continuation of trial.
The court adjourned after the prosecution counsel, Kemi Pinheiro, SAN, called his two witnesses, one on subpoena.
When Pinheiro, SAN, called the first witness, Segun Joseph Adeleke, the Defendant’s Counsel, Joseph Daudu, SAN, objected, saying that the witness’ name was not included in the initial list of witnesses provided by the prosecution.
This, he said, could affect his cross-examination.
The trial, however, proceeded and the witness, who identified himself as the General Manager of Efab Properties Limited, was asked to tell the court what he knows about a property on 1, Ikogosi Road, Maitama and another one in Gwarinpa.
Adeleke told the court that the name of the former governor did not reflect on any of the two properties being examined on Monday and that he did not sight him throughout the transactions.
Giving an account of what transpired, he said sometime in 2020, his chairman, Chief Fabian Nwora, introduced him to a young man called Shehu Bello and that they had a discussion concerning the purchase of the property.
“We had a discussion concerning the purchase of the property in question. And he told me that the young man would be coming back to make payment for the property at an agreed price of N550 million,” he said.
When asked if he had seen Shehu Bello since that day, he said, “I saw him three times. The first time was for introduction, the second time for payment and the third time was when he brought a legal document for the execution of the EFAB property.”
The EFCC lawyer then mentioned another property at 5th Avenue in Gwarinpa and told the witness to tell the court what he knows about it.
Responding, the witness said the property was purchased by one Nuhu Mohammed for N70 million and was paid for through a bank transfer.
He was asked if he remembered which bank the money came from, but he said no.
On cross-examination, the defendant’s counsel, Daudu, SAN, asked if the witness’ actions were purely based on the instructions of his chairman. He responded, “Yes.”
The counsel further asked whether it was correct to say that he did not initiate any discussion with Shehu Bello on his own, to which he also answered, “Yes.”
On the documents signed for the transactions, the Defendant’s Counsel asked the witness if he could confirm that Shehu Bello signed his own part in his presence.
“He did not my Lord,” he answered.
Daudu, SAN, also asked: “Throughout this transaction, did you set eye on the defendant?”
“Not at anytime in the course of this transaction,” the witness responded.
He was also asked if the name of the defendant appeared anywhere on the documents he said were with the EFCC.
He, again, answered, “no!”
The Prosecution then told the court that they had another witness to call, on subpoena.
The Defendant’s Counsel objected that they were being taken by surprise but added that he had no intention of stalling the trial.
The second witness identified herself as Williams Abimbola, a compliance officer with the United Bank for Africa Plc (UBA).
She had the subpoena with her, which the lawyer sought to tender as evidence.
The Defendant’s counsel had no objection and it was marked “Exhibit 1”.
The witness read out the documents the subpoena asked for to include the statement of account of Kogi State Government House, from January 1, 2016 to January 31, 2024.
The statements of account of Maselina Njoku, from January 1 to December 31, 2022, were also admitted in evidence, including the account opening packages of American International School and statements of accounts, from September 1 to September 30, 2020.
Justice Emeka Nwite then adjourned to March 6 and 7, 2025 for continuation of trial.
The family of late elder statesman and Afenifere leader, Chief Samuel Ayo Adebanjo, has announced the funeral arrangements for the revered nationalist, who passed away on February 14, 2025, at the age of 96.
According to the family, the burial ceremonies, scheduled to hold on Saturday May 3, 2025, will take place in Lagos and Ogun States.
In a statement sent to Ohibaba.com and signed by Ms Ayotunde Ayo-Adebanjo, the family said:
Following the passing of our patriarch, elder statesman and nationalist, Chief Samuel Ayodele Adebanjo (April 10, 1928 – February 14, 2025), the family hereby notifies you of the funeral activities:
1. Day of Tributes/ Service of Songs: Date: Wednesday, April 30, 2025 Venue: Harbour Point, Victoria Island, Lagos Time: 1:00 pm – 6:00 pm
2. Wake: Date: Friday, May 2, 2025, Venue: Pa Ayo Adebanjo’s Country Home, Isanya Ogbo, Ijebu Ode, Ogun State, Time: 4:00 pm – 6:00
3. Church Service/Final Burial: Date: Saturday, May 3, 2025, Venue: St Phillips Anglican Church, Isanya Ogbo, Ijebu Ode, Ogun State Time: 10:00 am – 1:00 pm
4. Thanksgiving: Date: Sunday, May 4, 2025 Venue: St Phillips Anglican Church, Isanya Ogbo, Ijebu Ode, Ogun State, Time: 10:00 am – 12:30 pm
We covet your prayers for the family and your professional support as wecontinue with the preparations to give him a most befitting burial. We alsolook forward to your esteemed presence at all the events.
Please accept the assurances of our highest regards.
Governor Lucky Aiyedatiwa of Ondo State and his deputy, Olayide Adelami, have been sworn in for a fresh four year term.
The Chief Justice of the state, Olusegun Odusola administered the oath to Aiyedatiwa and Adelami amid the presence of the people of the state and dignitaries who witnessed the event.
While taking the oath of office, the number one and number two citizens vowed to uphold the constitution, work within its dictates, and ensure the well-being of the people of the state.
The inauguration marks the takeoff of a new administration in Ondo State.
Present at the oath-taking event were the Governor of Lagos State, Babajide Sanwo-Olu, Governor of Ekiti, Abiodun Oyebanji, Minister of Interior, Olubunmi Tunji-Ojo, Minister of Youth Development, Ayo Olawande, among others.
Alleged money laundering: Yahaya Bello’s name not on property documents, EFCC witness tells court
Chief Ayo Adebanjo scheduled for Burial on May 3, 2025
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