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Economic Reforms: I Have No Cabal Or Sponsors To Compensate —Tinubu

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President Bola Tinubu has allayed fears of manipulation by any interest group in the ongoing economic reforms, saying his campaign was self-sponsored, without strings, or indebtedness to any individual or institution.

The President, who received a delegation of Islamic leaders led by Sheikh Bala Lau, at the State House on Thursday, said his victory at the polls was purely by divine intervention, careful planning, and diligence in getting support from Nigerians.

“I have no cabal. I have no sponsors. The money I spent on the elections was my personal fortune. At some point, the odds were against me; banks were locked. But Allah, the Almighty God, said I will be the President.

Mine is to now follow the leading and teaching of the Almighty God.

“One of the most potent elements of defence is a good conscience. It is also a defence against corruption.“What should be uppermost in our minds is the future of our children.

We have a lot to teach them on what it takes to be a good citizen and what it takes to be a responsible citizen,’’ the President stated.

President Tinubu said protests, fuelled by anger and hate, could degenerate into violence and set the country backwards.

“We are reworking the social welfare scheme to reach the ward level, which is the closest to our people. We will ensure that we re-establish connection with the wards, again, so that we can give allowances to the poor and the vulnerable.

“The student loans will pay for school fees. There will be monetary support for the education of our children. Consumer credit will support citizens in buying cars and houses, and they can repay them gradually.

“We have increased the minimum wage by more than 100 per cent,’’ the President said.

President Tinubu said the sponsors of protests place their selfish ambitions above the national interest.“The sponsors of protests do not love our country.

They have no love for the nation. They do not understand citizenship. They have alternative passports.“They are in different parts of the world holding meetings virtually.

“We do not want to turn Nigeria into Sudan. We are talking about hunger, not burials. We have to be careful. We should be careful with premature politics; politics of hate, and anger.

“The internet has made it possible to hold meetings in artificial settings. They hold meetings and sponsor anger,’’ the President told the religious leaders.

In his remarks, the leader of the delegation, Sheikh Bala Lau, assured the President of support with prayers and more sensitization.“Peace is paramount for us in the country.

Abraham first asked God for peace and guidance,’’ Sheikh Lau noted.

While speaking, the traditional rulers called for calm over the planned nationwide protest to demonstrate against the prevailing economic hardship in Nigeria.

The protest which is billed to begin from August 1st, 2024 has garnered traction on social media.

“We will listen to our youths because they lead the future. The power and the strength of Nigeria are certainly with the young people,” the Dein of Agbor, HRM Benjamin Keagborekuzi said after the meeting.

“We feel your pain.

I’m a young person myself. It’s been 24 years that I’ve been back and it’s been 24 years that I’ve sadly seen the nation going in a very unpalatable direction.

But by God’s grace, I think if you would give us the chance, this protest, I know that it’s catching you very, very high in the net.

But if you give us the chance, let us not destroy our own country. ”On his part, the Emir of Zazzau Ahmed Bamalli said the country’s leaders are worried about the planned protest but called “on our people to exercise patience and to listen to the words of wisdom”.

“Well, the message we are taking back to our people is to be calm, to exercise patience, and also to listen to the words of wisdom coming from the traditional rulers and from the governors because we have spoken to the President and he has given us the blueprint of what he has been doing over time,” he said.

The Ooni of Ife Oba Adeye Enitan Ogunwusi also followed a similar line but called for caution so the protest would not be hijacked.

“We traditional rulers are not engaged in people, especially the youth coming out to start looting to start breaking down law and order. We are parents, we are traditional rulers, we are closer to them,” he said.

“We are going to go back home and continue to engage them.

It is very difficult to build, but it is the easiest to destroy. We are all stakeholders in this country. We should be stronger as a nation together, than stronger individually.”

Thursday’s meeting is part of a last-minute push by the President Tinubu administration – which has come under severe criticism over its policies – to avert the planned protest.

Following the removal of fuel subsidy and the floating of the naira since the inception of the Tinubu government, the cost of living has soared, prompting the administration to reel out a raft of measures including a new minimum wage and the distribution of palliative. He has also called for patience.

But these efforts, many argue, are yet to do much in addressing the challenges.

In the wake of the planned protest scheduled to be held nationwide, security agencies have warned the organisers who have remained faceless to shelve the demonstration.

They fear it may be hijacked by criminal elements, and turning violent like the EndSARS protest of 2020.

Several groups have also pulled out of the scheduled demonstration, but proponents argue that it is the citizens’ right to protest perceived ill-treatment from the government.

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NMDPRA, EFCC Storm Illegal Chinese Refinery in Ogun (Video)

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and operatives of the Economic and Financial Crimes Commission (EFCC) on Tuesday stormed an illegal Chinese-operated refinery in Ogere-Remo, Ikenne Local Government Area of Ogun State.

The joint operation followed intelligence reports that revealed a well-fenced but crude yet technically sophisticated facility occupying more than three hectares of land.

During the inspection, officials observed underground tanks believed to have been used for heating and processing sludge oil, refining waste products, and substances suspected to be Automotive Gas Oil (AGO), popularly known as diesel. NMDPRA officials immediately sealed the facility.

Ogun State Coordinator of NMDPRA, Dr. Atilola Akinyemi, described the plant as a complete illegality operating without any permit from regulatory authorities.

“The underground storage facility behind the site has an estimated capacity of more than 90,000 litres, complete with underground heating systems, water hydrants for cooling, locally fabricated tanks and silos for separation,” Akinyemi told journalists.

He warned that if such adulterated products entered the market, they would pose serious risks to vehicles and engines. All recovered products have been confiscated by the Federal Government.

Director of the Department of Proceeds of Crime Management at the EFCC, Gbolahan Latona, stressed the need for collective patriotism in tackling economic crimes.

“Upon conclusion of investigation, the suspects will have their day in court and the proceeds of crime will be put to meaningful use,” Latona said.

Watch video below:

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Sanusi: Critics Are Not Enemies Of The Govt

” It’s not every time people talk about poverty or talk about difficulty that they’re just enemies of the government or making an attack on the president. That is not how to respond to economic distress,” he said.

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The Emir of Kano, Alhaji Muhammadu Sanusi II, has advised the Federal Government against treating every comment about the administration as an attack on President Bola Tinubu.

The royal father gave the advise on the occasion of the Oxford Global Think Tank Leadership Conference, organised by the Oxford Global Think Tan.

Speaking virtually to the audience at the event, on Tuesday, Sanusi advised the government to tolerate constructive criticism.

“It’s not every time people talk about poverty or talk about difficulty that they’re just enemies of the government or making an attack on the president. That is not how to respond to economic distress,” he said.

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Urbanisation: Lagos To Fall Behind Luanda as sub-Saharan Africa’s biggest city by 2050

The report titled ‘Sub-Saharan Africa’s Urban Awakening: Catalyzing Economic Growth and Job Creation’, also calculated that sub-Saharan Africa’s urban population will increase by 748 million between 2025 and 2050, reaching about 1.7 billion.

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A report conducted by the World Bank and the European Commission’s Joint Research Centre, has projected that Angola’s capital, Luanda,will overtake Lagos as sub-Saharan Africa’s most populous city by 2050, rising by 78 percent from 11.4 million to 20.3 million.

The report titled ‘Sub-Saharan Africa’s Urban Awakening: Catalyzing Economic Growth and Job Creation’, also calculated that sub-Saharan Africa’s urban population will increase by 748 million between 2025 and 2050, reaching about 1.7 billion.

The report estimated that Luanda’s population would increase from 11.4 million in 2025 to 20.3 million in 2050, adding 8.9 million residents over the period.

Lagos, the region’s most populous city in 2025 with an estimated 12.8 million residents, is projected to grow to 16.2 million by 2050, an increase of more than 25 percent.

Despite the growth, Lagos is expected to fall behind Luanda, whose population is projected to exceed that of Nigeria’s commercial hub by 4.1 million.

“Over this period, the population of Angola’s capital city, Luanda, is projected to increase by 78 percent from 11.4 million to 20.3 million.

In doing so, Luanda will overtake Lagos as SSA’s most populous city,” the report said.

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