Oshiomhole Gives Run-Down Of Terrible Economic Situation Tinubu Inherited

August 15, 2023

Adams Aliyu Oshiomhole | Photo credit: Premium Times

Former Governor of Edo State, now a Senator, Adams Oshiomhole has detailed the “terrible economic situation” inherited by President Bola Ahmed Tinubu.

He said: “the government (of Tinubu) inherited a terrible economic situation. Everybody knows it.”

Answering questions from newsmen today, August 15, shortly after an audience with Vice President Kashim Shettima at the Presidential villa, Abuja, Senator Oshiomhole said that Tinubu’s government inherited an economy in which the country’s total national revenue was barely enough to service it debt burden, “spending 96 percent, which is to say that every N100 Nigerian earn, 96,000 is going to repay debts, to service debt.

“So, you have only 4,000 left to pay all the salaries. So, nothing can be worse.”

Senator Oshiomhole said that Tinubu and his team came in office, determined that they will have to do business unusual; to arrest the drift; stabilize the economy and then begin to move forward.

“Some painful decisions are necessary. It is like any of us that has been unfortunate to have an ailment that requires surgery.

“If you want to pretend, you can be applying Vaseline, perfumes, creams and wear babariga to cover all the manifestations of that disease.

“But a trained doctor that believes in the ethics of medicine will tell you that you need a surgery. Surgery will be painful in the short run.

“They will give you a little bit of pain relief, but they only relief the pain. They won’t cure the disease. You need surgery and they wheel you to theatre.

“It might take three months, six months, but when you recover from that surgery and you bounce back; and you obey all the rules of the game, some of which may require a new way of life; it may require change of lifestyle. “You’ll be back and you find out that you can do a relay race because you are fit.

“I think that is the kind of analogy we can draw in terms of where we are now.”

He said that already, the president and vice president have shown courage in terms of the decisions they have taken, which is a radical movement away “from one in which if you are well connected you could make billions without adding value to one in which if you want to make money you have to work.

“We have moved away from a situation where CBN can favour you and you become a billionaire or they can pauperize you and your business collapses.

“Yes, it has created its own challenges, but I don’t know of any drug without side effect. “Doctors will always tell you that every drug might cure your ailment but it will have a side effect. “So, in taking it you have to do cost and benefit analysis.

“On the whole, I believe that the broad economic, specific macro economic policies that have been put in place so far, both in terms of monetary policies and in terms of fiscal policies, is the best way to start.”

He recalled when recently, in the life of ex President Muhammadu Buhari, a minister of finance distanced herself from the monetary policies of a CBN Governor and they were not talking.

“If the hand and the leg are not walking in harmony, then there is no way you can get to your destination.

“So, I think we are in a better situation now. But my plea to Nigerians is, when I say I will bail you out, I will fix a complicated system that is malfunctioning, I believe everyone knows that the more terrible the situation is, the more time I will require to take the right decision.

“Given the paucity of data and all the other basic infrastructure you need to take some quick decisions are not present, but decision has to be taken.

“When I was a governor I did the same thing. I said, let me use my first six months to take the first decisions.

“I might lose few friends in the process but when those decisions begin to manifest and translate to benefits I will regain, not just the friends I have lost, I will definitely win more friends.

“That’s what happened in Edo and by the time I was running for my second term, I got more votes than I got in my first term because some of the difficult decisions I took in my first term came to fruition.

“So, there is no quick fix and there is no miracle in the life of nation states.

“As they say, leaders and statesmen think of tomorrow, the short-sighted politicians think of what is politically convenient.

“I’m convinced that Nigeria is in safe hands.”

Vice President Shettima To Google: Nigeria Can’t Afford To Miss Knowledge-Driven Age

Editorial staff

August 15, 2023

Vice President Kashim Shettima has made it known to the executives of Google, a leading global technology company, that Nigeria had missed industrial and other revolutions in the past and will not be left behind this time, in knowledge-driven age.

“We missed the agricultural age; we missed the industrial age and we are now in the knowledge-driven post-industrial age.

“We have the potential and a unique opportunity to fill the anticipated global talent deficit.”

Shettima, who spoke today, August 15, while playing host to the executive members of the global technological experts at the Presidential villa, Abuja, expressed happiness at Google’s proposed N1.2 billion grant initiative for one million jobs for Nigerians.

He said that the proposed grant of N1.2 billion to support the Tinubu administration’s digital jobs initiative is commendable and worthy of emulation by other companies.

He stressed the desire of the government to create more job opportunities, saying that there is need to walk the talk.

“It is easy to pontificate but very difficult to bring all of the ideas to fruition. I want to assure you that this administration is ready to partner with you.

“Nigeria is ready for business. The President that we have now wants to leave a legacy that Nigerians will be proud of many years after.”

The Vice President spoke about the potentials of Nigeria’s young population, saying: “we have a unique opportunity to harness the potentials of our huge youth population to create millions of jobs in the digital sector.

“We have more English-speaking people than many countries in Africa and beyond.

“Access Bank is doing a lot in terms of digital skills, training 1,000 youths in digital skills to create employment opportunities.

“We are working with Wema Bank, the Bank of Industry and other partners on this project. We are willing to partner with Google, we will work closely with you for the good of our nation.”

This was even as the Director of Google in West Africa, Olumide Balogun said that the company is excited about the Tinubu administration’s vision of creating one million digital jobs and is committing over N1.2 billion in grants to support the initiative.

He said that the company, through the programme, would provide digital skills to over 20,000 youths and women to enhance and improve their lives and livelihoods, and also enable several startups grow and create thousands of jobs in the sector.

Also, the Google Africa’s Director of Government Relations and Public Policy, Charles Murito, said that the company remains committed to investing in digital infrastructure across Africa, and that digital transformation in the continent can be the driver of the targeted technology jobs.

He spoke about the potential in Africa, saying: “Google cannot achieve its vision and objectives if it doesn’t cover Nigeria effectively.”

The Google initiative is designed to train 20,000 Nigerian women and youth in digital skills.

The programme is facilitated through a grant from Google’s philanthropic arm to “Mind the Gap” in partnership with Data Science Nigeria and the Creative Industry Initiative for Africa. This initiative aligns with President Bola Tinubu’s administration’s commitment to increasing the participation of young Nigerians in the digital economy by creating 1 million digital jobs.

The delegation from Google also includes, Programme Manager, Google Africa, Ms Oluwatamilore Oni; the Government Affairs and Public Policy Manager, Mr Adewolu Adene and Communications and Public Affairs Manager for Google West Africa, Mr Taiwo Kola-Ogunlade, among others.

How CBN’s Mismanagement Lands Nigeria In Mess – Tinubu: Assures No More Fuel Price Increase

Editorial staff

August 15, 2023

President Bola Ahmed Tinubu has painted the picture of how the Central Bank of Nigeria (CBN’s) mismanagement of the nation’s economy has landed the country in seriously mess, even as he reassured the citizens that there would be no more increase in the price of Petrol.

“I will continue to be open to Nigerians on the challenges our nation is facing with respect to the illiquidity in the market, in terms of foreign exchange, as a result of what is now known to have been a gross mismanagement of the Central Bank of Nigeria over the course of several years preceding this time.”

Speaking through his Special Adviser on media and publicity, Ajuri Ngelale, at the Presidential villa, Abuja, today, August 15, the President said that despite the fact that so far, fuel in Nigeria is cheapest amongst the countries in the West Africa sub-region, there would be no longer Increase in the price, which is now between N610 and N617.

“The official position is that there is no increase in prices at this time and that Mr. President is convinced, based on information before him, that we can maintain current pricing without reversing our deregulation policy by swiftly cleaning up existing inefficiencies within the midstream and downstream Petroleum sector.”

President Tinubu warned however, that “we are not yet out of the turnel: there is still a bit of darkness to travel through to get toward the light. And we are pleading with Nigerians to please be patient with us.”

The President said that there are presently inefficiencies within the midstream and downstream petroleum sub sectors, which once very swiftly addressed and cleaned up, “will ensure that we can maintain prices where they are without having to resort to a reversal of this administration’s deregulation policy in the petroleum industry.”

President Tinubu provided a set of graphics, president by the NNPCL, to show the present cost of refined petroleum motor spirit in each of the West African nations that are Nigeria’s neighbours.

The graphics show that in Senegal, pump price today is N1,273 equivalent per liter; Guinea at N1,075 per liter; Côte d’ Ivore at N1,048 per litre equivalent in their currency; Mali N1,113 per litre; Central African Republic N1,414 per litre, saying: “Nigeria is presently averaging between N568 and N630 per litre.

“We are presently the cheapest, most affordable purchasing state in the West African sub-region by some distance. “There is no country that is below N700 per liter.

“We have seen that at the inception of our deregulation policy as of June 1, we have seen PMS consumption in the country drop immediately from 67 million litres per day consumption, down to 46 million litres per day consumption.”

President Tinubu asked all stakeholders in the country to hold their peace.

“We have heard very recently from the organized labour movement in the country with respect to their most recent threat.

“We believe that the threat was premature and that there is a need on all sides to ensure that fact finding and diligence is done on what the current state of the downstream and midstream petroleum industry is before any threats or conclusions are arrived at or issued.”

The President said that he is determined to maintain competitive tension within all sub sectors of the petroleum industry and to ensure that the policy drawn up as well as policy implemented would follow so that there would be no any single one entity dominating the market.

“The market has been deregulated. It has been liberalized and we are moving forward in that direction without looking back.”

NAF Aircraft Crashes In Niger, Casualty Unknown Yet

Editorial staff

August 14, 2023

An aircraft belonging to the Nigerian Air Force (NAF) has crashed in Minna, the capital of Niger State.

A statement today, August 14, by the NAF Director of Public Relations and Information, Air Commodore Edward Gabkwet, said that the aircraft departed from Zungeru Primary School in Niger State en-route Kaduna but was later discovered to have crashed in a village in Shiroro Local Government Area of Niger State.

The Air Force said that the aircraft was on a casualty evacuation mission when the crash happened.

The statement read in part: “A Nigerian Air Force MI-171 Helicopter on a casualty evacuation mission crashed today, August 14, 2023, at about 1.1.00 pm Chukuba Village in Niger State

“The aircraft had departed Zungeru Primary School en route Kaduna but was later discovered to have crashed near Chukuba Village in Shiroro Local Government Area of Niger State.”

The casualty figure is not yet known as at the time of filing this report.

But Gabkwet said efforts are ongoing to rescue the pilots and passengers on board.

“Efforts are currently ongoing to rescue the crew and passengers on board the helicopter, while preliminary investigations have commenced to determine the probable cause of the crash.”

Acting CBN Governor Predicts Gloomy Business For Parallel Market Operators

Editorial staff

August 14, 2023

The acting Governor of the Central Bank of Nigeria (CBN), Folashodun Adebisi Shonubi has cautioned the parallel market operators to tread gently else they will soon be operating at a great loss.

“The speculators should be careful because we believe the things we’re doing when they come to fruition may result in significant losses to them.”

The CBN boss, who spoke to newsmen today, August 14, shortly after a meeting with President Bola Ahmed Tinubu at the Presidential villa, Abuja, referred to the changes in the parallel market which he said are not driven by pure economic demand and supply “but are topped by the speculative demand from people.

“If you look at the official market, you will find that that market has been fairly stable and the spreads of the difference are not fluctuated as much.

“We do not believe that the changes going on in the parallel market are driven by pure economic demand and supply but are topped by speculative demand from people.

“Some of the plans and strategies which I’m not at liberty to share with you, means sooner rather than later, the speculators should be careful, because we believe the things we’re doing when they come to fruition may result in significant losses to them.”

The CBN Acting Governor said that President Tinubu was very concerned about some of the goings on in the foreign exchange market and asked what could be done to stabilize and what could be done to improve the liquidity in the market.

The President, he said, is also worried about the goings on in the various other markets, including the parallel market, and about its impact on the average person.

Shonubi said that so far, a lot of activities that the CBN carried out are purely local and are still referenced to the exchange rates in the parallel markets.

‘We have discussed and shared with him what we’re doing to improve supply.

“My presence here is more about the concerns the President has. He needs to know that we are doing something about it, assurances of which I have given him totally.

“We are looking at it and we’re doing things which will significantly impact the market in a few days time. And we will all see it.

“The intention is to ensure that the environment operates at a level that’s more efficient, but also that is very reasonable and does not have a negative impact to the best that we can have on the lives of the average person.”

Flooding Threatens 56 Nigerian Communities In August – NEMA

Editorial staff

August 14, 2023

The National Emergency Management Agency (NEMA), has warned that 56 Nigerian communities are being threatened by heavy rainfall that can lead to flooding in August.

The Lagos Territorial Coordinator of NEMA, Ibrahim Farinloye, in a statement today, August 14, listed the states and communities as follows:

In Delta: Aboh

In Ekiti State; Ado Ekiti

In Ondo State; Akure, Idanre, Ifon, Iju Itaogbolu Ogbese, Owo, Owena, Ondo

In Lagos State; Apapa, Badagry, Eti Osa, Ikeja, Ikorodu, Ikoyi, Lagos Island, Ojo Lagos, Surulere.

In Anambra State; Atani;

In Ogun; Ifo, Ota, Sagamu

In Nasarawa State; Lafia, Wamba

In Cross River; Ikom, Ogoja

In Bauchi State: Jamaare, Misau, Azare, Itas, Kafin Madaki, Kari, Kirfi, Tafawa Balewa, Katagum

In Jigawa State; Hadejia, Miga

In Osun State; Ilesa, Oshogbo

In Kwara State; Kosubosu.

In Zamfara State; Anka, Bungudu, Gusau

In Sokoto State; Goronyo

In Adamawa State; Numan, Shelleng

In Taraba State: Serti

In Benue State; Ito, Katsina-Alan, Vande-kiya

In Imo State: Oguta, Orlu

In Abia State; Ugba. Source: NAN.

We’ll Go On Indefinite Strike If Fuel Price Is Further Increased – Labour Union

Editorial staff

August 14, 2023

The Nigeria Labour Congress (NLC) has made it clear that if fuel price per liter is further increased, it will call on all the workers in the country to embark on indefinite strike.

The NLC national President, Joe Ajaero, who spoke today, August 14, at a meeting of the African Trade Union Alliance in Abuja, warned that any price increase would be at variance with government’s agreement with the labour.

The government of

President Bola Tinubu had witnessed increased petrol price to between N488 to N560 per litre on June 2, 2023 on his assumption of office following the removal of petrol price subsidy.

Barely a month after, fuel price was increased to between N580 and N617 per litre due to what Mele Kyari, the NNPC group Managing Director, called “market forces.”

Nigerians are now being advised to brace up for the third price increase which may take the fuel price to N700 per litre due to depreciation of the naira to about N1000 to the dollar.

Petrol Marketers have advised Nigerians to be ready for petrol price increade due to higher cost of the landing cost of petrol which the said is now between N680 and N700 per litre because of the sliding value of naira. (GBN)

Female Students Of University Of Calabar Protest Over Sexual Harassment By Lecturer

Greenbarge Reporters

August 14, 2023

Female students of the Faculty of Law, University of Calabar, Cross River State have staged a protest against their Dean, Professor Cyril Ndifon over alleged sexual harassment.
A video on Twitter posted today, August 14, showed the students in front of a building in the school, carrying several placards bearing different inscriptions as they sang solidarity songs.
Some of the placards the students had with them read:
-Enough of Law School list manipulation
-Prof Ndifon must go for our sanity
-Law girls are not bonanzas.
-Prof. Ndifon should stop grabbing us.
-The Faculty of Law is not a brothel
-We are tired of sucking dicks, etc.
As at press time, the authorities of the school were yet to speak on the protest by the students who were in their usual white and black dress code.
Source: The Eagle Online

First Lady To Super Falcons: You Represented Nigeria Well At FIFA Women’s World Cup Tourney

Greenbarge Reporters

August 14, 2023

Nigeria’s First Lady, Senator Oluremi Tinubu has celebrated the Super Falcons of Nigeria who just returned from the World Cup competition after losing to England in the group of 16.
The First lady, who received some of the players, their technical team and officials of the NFF at the Presidential villa, Abuja, today, August 14, said that the girls displayed dedication, resilience, team spirit with the zeal and strength that defines Nigeria.
She paid glowing tribute to all the players who she said have represented Nigeria on the global stage, and that the world took notice of the dexterity of the players.
“Although the final result did not go our way, I am here to remind you that victory is not solely determined by the score on the field. The unbreakable spirit and unity that you demonstrated are true markers of success”.
“You have not only represented Nigeria on the global stage but have also become role models for our youth, especially young girls who now see their aspirations mirrored in you.
“I salute you today and welcome you back home and our goodwill and best wishes go to other players who have gone back to their base. You gave your all, and we stand with you. We are so proud of you.”
The President of the Nigerian Football Federation, Alhaji Ibrahim Musa Gusau thanked the First Lady for the warm reception and assured her that the players would continue to give good and qualitative representation to the country.
The captain of the team, Onome Ebi, said that the team worked very hard and tirelessly to bring home the coveted FIFA Women’s World Cup Trophy back home.
She promised that the team would continue to press on relentlessly to ensure they make the country very proud on the football field.
The First Lady received the players with the wife of the Vice President, Hajiya Nana Shettima and wife of the Senate President, Mrs Ekaette Akpabio

New State House Permanent Secretary, From Ekiti, Assumes Duty

Greenbarge Reporters

August 14, 2023

The newly appointed Permanent Secretary, State House, Engr. Olusesan Adebiyi, officially assumed duty today, August 14.
Taking over the fountain of leadership from Tijjani Umar, who retired over the weekend after clocking mandatory 60 years, the new helmsman from Ekiti State, pledged his unwavering commitment to the success of President Bola Ahmed Tinubu’s administration.
Adebiyi, who previously held the position of Permanent Secretary in the Federal Ministry of Health, expressed gratitude to his predecessor, Tijjani Umar.
He acknowledged Umar’s dedicated service to the nation and congratulated him on his successful retirement on August 10, 2023.
”I sincerely pledge my commitment to my fatherland. I will put forth my best effort for the success of the administration.
“I pledge my faithfulness, hard work, honesty, and sincerity of purpose in ensuring that every assignment given to me is carried out to the letter.”
Adebiyi called on State House staff to work as a cohesive team, with renewed vigour and dedication to succeed.
This was even as the retiring Permanent Secretary, Umar said that it is an honour to have served two Presidents: Muhammadu Buhari and Bola Tinubu, during his three-year tenure as Permanent Secretary, State House, from April 5, 2020 to August 10, 2023.
”Driving round the State House today gives me great pleasure because I have seen how much we have impacted the community.
”When you look to the left, right and centre, there’s something somewhere that people will continue to use and benefit from that we initiated, completed and delivered.”
Umar hinted at a memoir, chronicling his career in public service, slated for publication soon.

Born in Kabba, Kogi State, Olusesan Olufunso Adebiyi hails from Ekiti State.

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