News Update Now In Nigeria – Nigerian President Bola Tinubu (left) stands with his predecessor Muhammadu Buhari during an inauguration ceremony in Abuja, Nigeria on May 29, 2023 [Temilade Adelaja/Reuters].
Nigeria’s new president, Bola Tinubu, vowed on Monday to grow the economy by at least six percent a year, remove barriers to investment, create jobs and stabilize the exchange rate, while tackling insecurity.
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“Economically, we aim for higher GDP [gross domestic product] growth and a significant reduction in unemployment,” he said.
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He took the oath at an open-air ceremony at the Eagle Square in the capital, Abuja. His predecessor Muhammadu Buhari then completed his eight years in office and went to his rural home in the northwestern state of Katsina.
Buhari has scared off investors with protectionist policies, including closing borders in 2019. Under Buhari, the naira, Nigeria’s currency, has lost 70 percent of its value as Africa’s largest economy struggles to keep pace with rising debt.
More than a third of the country’s population is currently unemployed and voters expect Tinubu, 71, to create jobs, fix the sagging economy and strengthen security in line with his campaign promises.
The new president will also face foreign exchange and fuel shortages, nearly two decades of inflation, widespread insecurity, epileptic power generation and declining oil production due to crude theft and underinvestment.
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“I have a message for our investors, both local and foreign: our government will look into all complaints about various taxes and various inhibitions against investors,” Tinubu said.
The former governor of Lagos State and a member of Buhari’s party said the removal of the popular but expensive fuel subsidy from June would be in line with this year’s budget.
He also promised a “complete cleanup” of monetary policy, adding that the central bank should work towards a unified exchange rate.
“This will divert funds from arbitrage to meaningful investments in the plants, equipment and jobs that drive the real economy,” he said.
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Economists are already predicting that Tinubu, who has criticized the recent currency redesign and change, is expected to devalue the naira by 15 percent to help stabilize the economy.
Tinubu also inherits a divided country after his victory was challenged in court by his main opponents, who see him as a member of the old guard. In the February election, he won with only 37 percent of the vote, narrowly edging out his closest rivals Atiku Abubakar and Peter Obi.
“My supporters, I thank you. I extend my hand across the political divide to those who voted against me. I ask you to understand kinship and national brotherhood,” he said.
The election attracted young voters hoping for a break from the two parties that have dominated Nigerian politics since the end of military rule in 1999. But what authorities promised would be the freest and fairest elections yet ended in frustration for many.
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Tinubu said he would address the widespread violence in Nigeria by beefing up the security services with more personnel and improving training, equipment and pay.
Murders and kidnappings for ransom are rampant in the northwest. Separatist and gang violence has ravaged the southeast, and clashes between farmers and herdsmen continue in the interior states known as Nigeria’s Middle Belt. sit at home…
The Indigenous People of Biafra (IPOB) has vowed to shut down the South-East and South-South geopolitical zones with a sit-in demonstration to mark their “holy day” out of respect for those who lost their lives. to fight
IPOB Media and Publicity Secretary Emma Powerful stressed in a statement that today’s exercise will clearly define the real owners of the land between the government and the people of the affected areas.
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He added that members of the group had earlier marched through the affected regions to raise awareness about the exercise.
His words: “Some call it a rally; some say it’s a protest, but die-hards call it IPOB evangelism. Across the length and breadth of Biafraland, from Asaba to Abakaliki, Enugu, Onitsha, Owerri, Aba to Igweocha, this chosen breed of fearless warriors, armed only with courage and divine belief, walked the streets in the imperative of restoration of Biafra. The Sacred Land of the Ancients May 28, 2019 To remind the DSS, the military, the police and other gangs of cowardly civilian killers that we are IPOB land owners.
“This is a clear demonstration to all oppressors, collaborators and traitors that no amount of intimidation, kidnapping, arrest, murder and fabricated lies will stop this IPOB. May 30 is a holy day and Biafraland will be blocked.”
Poderoso lamented that “recent attacks, betrayal by faceless groups cannot stop the order of IPOB”, adding: “Biafrans have already decided to remember and honor all the fallen heroes and heroines who sacrificed their lives for this current generation.I live today.It is important to remind them that the Biafra restoration project is not an Igbo problem, so they cannot stop their decision to stay indoors tomorrow (today).
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Meanwhile, some Igbo leaders, under the auspices of the AlaIgbo Development Foundation (ADF), have called on the sons and daughters of the ethnic nationality to celebrate May 30 as Biafra Day.
In a statement after a meeting with the Association of Southeast City Trade Unions (ASETU), the leaders said the day was set aside to commemorate those who died in the Nigerian civil war.
They said: “They all died for the sake of our freedom in the worst pogrom in history, where the Ndigbo and their neighbors lost millions of citizens and billions of naira, especially during, during and after the Biafra war”.
“It can be church services, processions with candles, sitting at home, dressed in black uniforms and black bands, conferences and symposia.”
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The Women’s Defenders Research and Documentation Center (WARDC) has lamented that schools and learning facilities across the country continue to suffer from widespread insecurity due to the lack of adequate response from governments.
The Teachers Registration Council of Nigeria, TRCN, and the Joint Admission and Matriculation Board, JAMB, are exploring ways to strengthen partnerships to serve Nigerians.
A Federal High Court in Abuja has fixed October 23, 2023 to hear the suit filed by former Minister of Petroleum Resources Diezani Alison-Madueke.
The Petroleum Technology Development Fund has started a physical oral interview selection exercise for 288 foreign PTDF postgraduate applicants from the South-South geopolitical zone.
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The National Senior Citizens Center, (NSCC), has called for the help of international partners and other stakeholders to end discrimination and stereotyping against the elderly in Nigeria. politicians among many Nigerians [File: Drew Angerer/Getty Images]
Abuja, Nigeria – Nigeria’s President Muhammadu Buhari has handed over the reins of power to Ahmed Bola Tinubu of the All Progressives Congress (APC), leaving a very different legacy than what voters expected when they elected the eight. several years ago
His 2015 victory against Goodluck Jonathan, the first defeat of a sitting president in Nigeria’s history, was his second term in power after a palace coup in August 1985 ended his 18 months as military ruler.
Buhari’s success at the polls followed three failed attempts to return to the presidency as voters turned to a man from their past out of frustration with Jonathan, a humble leader who critics said was more suited to his former life as a zoology professor. than as the president of Africa’s largest democracy.
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Buhari’s winning campaign emphasized three main promises: tackling insecurity, tackling corruption and solving economic problems. But stepping down after two terms, few rate his leadership team as better than the man who got it done despite embarking on a vast infrastructure.
Under Buhari, Nigeria has become the poverty capital of the world; today 133 million of its citizens live in extreme poverty.
When his staunch ally, Kano Governor Umar Ganduje left, dollar bills believed to be contract strikes were seen in a viral video, Buhari defended himself, saying the videos were distorted.
This year, even Tinubu, credited as the strategist behind the APC’s 2015 victory, criticized the government and distanced himself from Buhari’s campaign achievements, or lack thereof.
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“Only a deaf and dumb person will say that Nigeria is fine… and it is disappointing that the president does not see it the way we see it,” said Frank Kokori, a leader of the APC. in August 2022. “People were ready to die for Buhari from 2014 to 2015 but unfortunately, Buhari squandered all their goodwill.”
The first indication that Buhari’s presidency would be a protracted exercise was the failure to announce a cabinet for five months. That delay earned him the nickname “Baba Go Slow,” an ironic reference to the queues of signatures in Nigeria’s commercial capital, Lagos.
The cabinet list was a list of geriatric parties and geriatric parties, including a minister, three decades after he returned to office.
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