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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.
News
JUST IN: Filling stations shut after Dangote Refinery’s petrol price drop

Some filling stations and petroleum products marketers, partners of Dangote Refinery’s petrol, temporarily shut down for the past five days after the latest premium motor spirit price drop by the 650,000 barrels per day refinery.
Recall that for the past five days, MRS filling stations in Abuja, along Kubwa Expressway, and others have not dispensed fuel since Dangote Refinery announced its ex-depot fuel price reduction to N835 per litre on Tuesday, 16 April, 2025.
An official of MRS filling station, who preferred anonymity because he is not authorised to speak said the filling station is grappling with the loss incurred after Dangote’s latest price adjustment.
“It is because of Dangote’s latest price drop. The filling station had old stock, which it couldn’t sell at a loss.
“This is the reason we have shut down since Tuesday. We may reopen on Tuesday,” he said.
Meanwhile, another official at the filling station said the retail outlet is billed to reopen on Tuesday, noting that it has been undergoing minor maintenance.
“We have been on maintenance for the past few days, which is the reason the station was shut. We will reopen on Tuesday,” he said.
According to him, the filling station would commence dispensing at the new price of N910 per litre from Tuesday.
Other partners of Dangote Refinery, such as AP, Ardova, and Optima, are dispensing fuel between N910 and 920 per litre in parts of Abuja as of Monday, 21st April 2025.
Reacting to the development, the National President of Petroleum Retailers Outlets Owners Association of Nigeria, Billy Gillis-Harry, said the latest fuel price drop affected the purchasing power of petrol retailers and marketers.
According to him, indiscriminate price adjustment, whether downward or upward, is not good for the petroleum downstream sector and the Nigerian economy.
At every point, if prices of petrol are indiscriminately changed without any clearly defined economic reason, the chances that it will impact on the buying power of retailers and marketers are there.
“It is not good for business, the economy, and Nigerians.
“Prices of petrol change for reasons that are understandable with proper information to retailers,” he said.
Recall that Gillis-Harry had earlier called for a six-month fuel price stability plan to halt fluctuations.
Earlier, the spokesperson for the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, had hinted that marketers having old stocks of fuel will incur billions of losses following Dangote’s latest fuel price drop.
Last week became the second time the $20 billion refinery reduced its fuel price nationwide. This indicates a combined downward ex-depot price drop of N45 per litre.
Dangote Refinery had, on 10 April, reduced its gantry price of petrol to N865 per litre.
However, the ex-depot fuel price had further dropped to N835 per litre.
This comes after the federal government’s renewed commitment to the indefinite continuation of the naira-for-crude deal with other local refiners and the drop in global crude prices to around $66 per barrel.
The Nigerian National Petroleum Company Limited recently reduced its retail price to N935 per litre for customers in Abuja in response to Dangote Refinery’s latest price cut.
This means that Nigerians currently buy petrol at between N890 and N950 per litre, depending on the location nationwide.
News
NNPC’s Olufemi Soneye Emerges NIPR Spokesperson for 2025
Responding, Soneye attributed his recognition by the NIPR with its most exalted spokesperson’s award to the dedication of the entire team at the NNPC.

Soneye (middle) receive NIPR’s prestigious award .
The Chief Corporate Communications Officer, Nigerian National Petroleum Company Limited (NNPC), Mr. Olufemi Soneye, has emerged the Nigerian Institute of Public Relations (NIPR) spokesperson of 2025.Announcing the award, the NIPR described Soneye as a “diligent” spokesperson, characterising him as “a strategist.” Soneye’s capacity to shape public opinion, also stood him out of the crowd of spokespersons, according to the Adjudication Committee, Chairman, Dr. Shaibu Hussein.
Represented by a member of the committee chairman, Lami Tuiaka, the chairman said the moment to the conclusion of the award was rigorous and demanding. He also predicated Soneye’s victory on his communication skills, crisis management and overall impact.
“Our committee comprising communication scholars, Public Relations practitioners, and media personalities worked tirelessly to review the nomination, assess performances and deliberate on the winner.
I must report that we carefully examined each nomination, considering factors such as communication skills, crisis management and overall impact,” he said.
Presenting him the plaque at the National Spokespersons Award 2025, chairman of the event Deputy Chairman, House Committee on Power, Hon. Joshua Audu, said the institute would celebrate Soneye throughout 2025 as the current NIPR spokesperson award winner.
He said: ” On behalf of the NIPR Award Night 2025, I have the honour and privilege to present the Spokesperson of the year 2025. Please join me to celebrate our latest spokesperson that we will celebrate throughout 2025 in the person of Olufemi Soneye.”
Responding, Soneye attributed his recognition by the NIPR with its most exalted spokesperson’s award to the dedication of the entire team at the NNPC.
Amid a standing ovation, he said: “We are all happy and I am deeply honoured to receive this award tonight from NIPR. This award reflects the dedication of our entire team and we want to thank NIPR for all they have been doing.”
News
Mission to boldly grow food in space labs blasts off
ESA is funding the research to explore new ways of reducing the cost of feeding an astronaut, which can cost up to £20,000 per day.

Artwork: The experiment will orbit the Earth for three hours before returning to Earth and splashing down off the coast of Portugal.
(BBC): Steak, mashed potatoes and deserts for astronauts could soon be grown from individual cells in space if an experiment launched into orbit today is successful.
A European Space Agency (ESA) project is assessing the viability of growing so-called lab-grown food in the low gravity and higher radiation in orbit and on other worlds.
ESA is funding the research to explore new ways of reducing the cost of feeding an astronaut, which can cost up to £20,000 per day.
The team involved say the experiment is a first step to developing a small pilot food production plant on the International Space Station in two years’ time.
Lab-grown food will be essential if Nasa’s objective of making humanity a multi-planetary species were to be realised, claims Dr Aqeel Shamsul, CEO and founder of Bedford-based Frontier Space, which is developing the concept with researchers at Imperial College, London.
“Our dream is to have factories in orbit and on the Moon,” he told BBC News.
“We need to build manufacturing facilities off world if we are to provide the infrastructure to enable humans to live and work in space”.
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