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Economic Reforms Aim To Protect Nigeria’s Future – Tinubu

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Nigeria’s President, Bola Ahmed Tinubu has articulated the rationale behind his administration’s economic reforms, saying the primary motive was protecting the interests of future generations.

This view was shared in a statehouse statement on Thursday, in Abuja by the Special Adviser to the President, (Information & Strategy), Bayo Onanuga.

He declared thus, “For 50 years, Nigeria was spending money of generations yet unborn and servicing the West coast of our subregion with fuel. It was getting difficult to plan for our children’s future.”

ALSO READ: ADF Flags Off N16Bn 2025 National Food Intervention Programme

President Tinubu was receiving a delegation of former National Assembly colleagues from the aborted Third Republic, during which he served as a Senator representing Lagos West, when he bared his mind.

He highlighted the challenges faced at the beginning of his administration, especially economic and social issues, and expressed his gratitude for the delegation’s support in addressing these difficulties:

“We faced serious headwinds when I took over, very challenging times. Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse,” he added.

President Tinubu made it clear that the administration had been able to stem the tide and expressed appreciation to Nigerians for their collective support in turning things around.

“Today, we are sitting pretty on a good foundation. We have reversed the problem; the Exchange rate is stabilising. Food prices are coming down, especially during Ramadan. We will have light at the end of the tunnel.”

He said firm adherence to democratic tenets is the best route to economic, social, and political development.

“I am happy that you are holding to your belief in democracy. I thank you for keeping faith and remembering how we started. Some people missed the ball.

“Some leadership failed, but we kept the faith with our democratic beliefs and freedom and the right to aspire to the highest office in the land. I am benefitting from it.”

Senator Emmanuel Chiedoziem Nwaka, who spoke on behalf of the group, expressed his delight at some of the programmes that the Tinubu administration had implemented, especially the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP) and at what the two organisations were offering Nigerians.

“I appreciate you for what you are giving to students because the student population is the largest demographic in the country. I’ve spoken with many of them, and many have benefited from it.

“And the next one is the CREDICORP. That’s a major way of fighting corruption. You see a young man, you come out of school, you want to buy a car, you have to put down cash, you want to buy a house, and you are not married, but with the CREDICORP, you can get things done. I’m following their activities; we are delighted,” he said.

Other members of the delegation were Sen. Bako Aufara Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Hon. Amina Aliyu, High Chief Obi Anoliefo and Hon. Eze Nwauwa.

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‘Ready to Kick, Ready to Work’ — Tinubu Addresses Health Rumours

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President Bola Ahmed Tinubu has declared that he is healthy, sound and ready to resume work after returning to Nigeria from his four-week working vacation in Europe.

Tinubu made the remarks on Tuesday shortly after arriving in Lagos from Paris, France, where he spent the final part of his vacation.

SEE MORE: Tinubu Departs Paris for Lagos, Set for Abiola Tribute

Speaking briefly after his arrival, the President said he enjoyed the break before assuring Nigerians of his readiness to return to official duties.

“I enjoyed myself,” Tinubu said.

On his readiness to resume work, he added: “Ready to kick, ready to work. There’s nothing wrong.”

The President also addressed rumours surrounding his wellbeing, attributing such speculation to the political environment.

“Well, rumour will always be emanating from politics, but the fact remains I’m here—healthy, sound, and ready to go,” he said.

Tinubu arrived at the Presidential Wing of the Murtala Muhammed International Airport in Lagos at about 6:22 p.m. on Tuesday, marking the end of his European working vacation.

His return comes ahead of Nigeria’s 66th Independence Anniversary on October 1, with the President expected to participate in activities marking the occasion in Lagos.

The Presidency had earlier said Tinubu would remain in Lagos for several days for Independence Day engagements and strategic meetings before returning to Abuja.

Tinubu departed Nigeria on August 30 and spent time in London and Paris during the trip, while continuing official engagements.

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‘People Never Believed NDDC Could Do This’ — Ogbuku Highlights Kaa-Ataba Bridge

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The Managing Director and Chief Executive Officer of the Niger Delta Development Commission (NDDC), Samuel Ogbuku, has highlighted the completion of the 1.2-kilometre Kaa-Ataba Bridge in Rivers State as evidence of the Commission’s growing capacity to deliver major infrastructure projects across the Niger Delta.

Ogbuku spoke at the 2026 NDDC Partners for Sustainable Development Conference in Port Harcourt, where he attributed the Commission’s progress to the support and cooperation of its development partners and other stakeholders.

SEE MORE: Otti Commends NDDC, Charges Team Abia To Dominate NDSF

The Kaa-Ataba Bridge links Khana and Andoni Local Government Areas of Rivers State and is expected to improve connectivity between the communities when opened to vehicular traffic.

According to Ogbuku, the project is among developments that many previously considered beyond the capacity of the NDDC.

“These are things that, in the past, people never believed the NDDC could do. Today, we are doing them seamlessly because of the support we are getting,” he said.

The NDDC boss said the progress recorded by the Commission demonstrated the impact of collaboration between the agency and its development partners.

He thanked stakeholders, President Bola Ahmed Tinubu, the National Assembly and the Minister of Regional Development for their support and encouragement towards the delivery of projects across the Niger Delta.

Ogbuku said the achievements also underscored the importance of collective responsibility, in line with the theme of the 2026 conference, “Synergy for Transformation.”

 

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‘Some Lessons for Atiku’ — Onanuga Touts NNPC’s ₦7.2tn Profit, Warns Against Subsidy Return

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Presidential spokesman Bayo Onanuga has highlighted the Nigerian National Petroleum Company Limited’s (NNPC Ltd) latest financial and operational performance, saying the figures offer “some lessons for Atiku” amid the debate over fuel subsidy.

Onanuga disclosed this in a post on X on Tuesday while reviewing NNPC’s key financial performance for 2025 following the release of the company’s audited results.

According to him, NNPC’s earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 22 per cent to ₦18 trillion, while earnings per share increased by 32 per cent to ₦35.9.

ALSO READ: ‘We’ll Bring Back Subsidy in Our Own Way’ — Kwankwaso

He said the company’s operating cash flow also grew by 16 per cent to ₦12.8 trillion, while return on equity improved by 200 basis points to 16 per cent.

Onanuga further noted that NNPC declared a ₦5.8 trillion dividend, representing a 35 per cent increase.

Highlighting the company’s operational performance, he said crude oil and condensate production averaged 1.77 million barrels per day, its highest level in five years.

Natural gas output, he added, averaged 7.2 billion standard cubic feet per day, representing a three-year high.

Oil and condensate production totalled 565.8 million barrels, up five per cent, while NNPC’s equity share increased by 11 per cent to 223.7 million barrels.

Gas production also reached 2,606.2 billion standard cubic feet, up nine per cent, while the company’s equity share rose by 11 per cent to 1,154.9 billion standard cubic feet.

Onanuga then linked the performance to the subsidy debate, arguing against a return to petrol subsidy.

“Atiku’s subsidy programme will certainly kill this company, which could be our own Aramco. Our country has no business taking 100 steps back. Forward ever!” he said.

NNPC Records ₦7.2tn Profit

NNPC Ltd had earlier announced a 33 per cent increase in profit after tax for the financial year ended December 31, 2025.

The company’s profit after tax rose from ₦5.4 trillion in 2024 to ₦7.2 trillion in 2025, while revenue stood at ₦34.5 trillion.

NNPC also reported a 22 per cent increase in EBITDA to ₦18 trillion, a 16 per cent rise in operating cash flow to ₦12.8 trillion and a 32 per cent increase in earnings per share to ₦35.9.

The company declared a ₦5.8 trillion dividend, representing a 35 per cent increase.

On production, NNPC said crude oil and condensate output averaged 1.77 million barrels per day, its highest level in five years, while natural gas production averaged 7.2 billion standard cubic feet per day.

The company said the results reflected stronger earnings capacity and operational momentum as it continues to pursue increased production and investment across the Nigerian oil and gas sector.

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