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Efforts Underway To Restore Confidence In Nigeria’s Economy – Tinubu

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President Bola Tinubu has reaffirmed his administration’s commitment to restoring confidence in Nigeria’s economy through initiatives aimed at reducing inflation, stabilizing the foreign exchange market, and enhancing fiscal management.

Speaking at the 17th Annual Chartered Institute of Bankers of Nigeria (CIBN) Banking and Finance Conference in Abuja on Tuesday, Tinubu, represented by Vice President Kashim Shettima, praised the conference’s theme, “Accelerating Economic Growth and Development: The State of Play and the Way Forward,” as timely and essential.

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Tinubu acknowledged that the conference was convened during a period of significant challenges, including high inflation, rising living costs, unemployment, infrastructure deficits, and the impacts of global economic changes.

Despite these challenges, he pointed out that they also offer opportunities for growth and development.

The President noted that his administration has undertaken bold yet difficult reforms to address the macroeconomic issues facing the country.

He said, “Though painful in the short term, the removal of fuel subsidies is designed to free up budgetary resources for critical investments in infrastructure and social services. The adjustment of the monetary policy rate, a move aimed at curbing inflation and fostering a more market-oriented exchange rate system.

Tinubu also noted that his administration was committed to strengthening infrastructure development in the ongoing bid to grow Nigeria’s economy.

He added “We are committed to upgrading Nigeria’s infrastructure to support economic growth. We are investing in roads, railways, and energy projects through public-private partnerships to reduce transportation costs and improve market access.”

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Gov Fubara Ousts Rivers Caretaker Chairman After Three Months In Office

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Rivers State Governor, Siminalayi Fubara has suspended Otonye Briggs, the caretaker committee chairman of Akuku-Toru Local Government Area (LGA), with immediate effect.

The announcement was made in a statement on Tuesday by Nelson Chukwudi, the governor’s spokesperson, who did not disclose the reasons for the suspension.

In the interim, Governor Fubara has appointed Bitebobo Nelson Amieye to replace Briggs as the caretaker committee chairman.

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The governor further directed Briggs to promptly hand over all council properties in his possession to Amieye.

Chukwudi said, “The Governor has directed Hon Bitebobo Amiee to immediately take over as chairperson. though specific reasons for the decision were not disclosed.

“Mr Briggs is hereby directed to hand over all council property in his possession to the (new) Caretaker Committee Chairperson.”

The suspension comes three months after Governor Fubara inaugurated the caretaker committee chairpersons for the 23 local government areas of Rivers State on June 19.

The inauguration followed the expiration of the three-year tenure of the previously elected council officials.

Tensions arose between supporters of Governor Fubara and those of his predecessor, Nyesom Wike, now the Minister of the FCT, after the former local government chairmen, backed by Wike, refused to leave office.

This standoff escalated into violence, leading to the deaths of two people, including a police officer.

In response to the unrest, the police ordered officers to take control of the 23 council secretariats.

During his three months in office, Briggs was unable to work from his official office, as the secretariat remained under police control.

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UN Pledges $6m To Aid Flood Victims In Borno State

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The United Nations (UN) has announced a $6 million emergency donation to support flood victims in Maiduguri, Borno State, following the overflow of the Alau Dam.

The flooding has displaced thousands, many of whom were already facing hardship due to ongoing conflict and insecurity in the region.

In a statement released by the UN, Nigeria’s Humanitarian Coordinator, Mohammed Fall, revealed that a joint team of UN agencies, non-governmental organizations (NGOs), and the Nigerian Red Cross Society had visited the worst-hit areas.

Read Also: I Canceled My US Trip To Console Borno Flood Victims – Tinubu

“We encountered families who have been displaced multiple times, and this flood has added another layer of suffering,” Fall said.

Immediate relief efforts are already underway, with the UN and its partners distributing hot meals and airlifting food to communities cut off by rising floodwaters.

The response also includes providing water purification tablets, emergency health services, and temporary shelters to prevent disease outbreaks.

The flood has caused significant damage to local agriculture, with more than 125,000 hectares of farmland submerged, raising concerns about food security in the region.

The UN Office for the Coordination of Humanitarian Affairs (OCHA) is mobilizing additional resources to ensure sustained assistance.

The ongoing relief efforts aim to address the urgent needs of those affected and mitigate the risk of further humanitarian and health crises.

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Adeleke Hosts Ife Dev’t Board, Moots Better Infrastructure For Ile Ife

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Four gang-killed two in Osun, destroy N8M properties

 

Osun State Governor, Senator Ademola Adeleke has decried the low physical and infrastructural development of Ile Ife, the cradle of Yoruba people.

Gov Adeleke, on Monday, in Osogbo, declared that the source of Yoruba race should be given a total infrastructural upgrade including flyovers, dualised roads and upgraded facilities.

ALSO READ: Osun State Denies Borrowing N10bn

He bared his mind while hosting a delegation of Ife Development Board at the Government House, where he noted the low developmental outlook of the ancient city, which he described as not acceptable to him and his team.

According to Gov Adeleke, this informed the decision to commence massive upgrade starting with the Lagere flyover and the dualisation of the road leading to the palace.

He justified his administration’s decision to change the face of Ile Ife on the ground that the ancient city cannot continue to look like a village when global visitor comes calling, affirming that Ile Ife is too important to remain low rated in infra outlook.

Gov Adeleke, accompanied by his Deputy, Prince Kola Adewusi told the visiting dignitaries that Ile Ife is not only the cultural capital and source of all Yoruba people but also the global tourism and religious base of Yorubas in North America, South America and other parts of the world.

Thanking the Ooni of Ife and other Ife leaders for supporting him on the ongoing flyover and dualisation projects at Ile Ife, the Governor said aside the cultural and tourism factors, the economic case for the Lagere flyover has been well canvassed as the junction is the meeting point for business interaction from Osun West, from Ilesa and from Ondo through Garage Olode.

He said, “Our administration is committed to completing the flyover as well as the dualisation of the road leading to the Ooni palace. I want to be recorded in history as the Governor who transformed Ile Ife into a modern cultural and tourism city.”

On the requests for rehabilitation of some other roads at Ile Ife, the Governor assured that the list would be forwarded to the Ministry of Works and Infrastructure for addition to the list of roads scheduled for reconstruction and rehabilitation.

He promised that the request for expansion of the dualisation to Ilesa Garage will be evaluated for further action by the technical team.

On security, he assured the Ife Development Board that his administration is already reforming the state’s Amotekun security service as a bridge between local communities and the federal security services.

Gov Adeleke explained that local vigilante and forest hunters would henceforth be working with Amotekun service and other formal security agencies to secure Osun cities and rural areas.

On the need for further action on the agricultural sector, the Governor informed the delegation that the state government will soon unveil an AFDB supported agricultural processing zone to be located at Ile Ife.

On his part, the President of Ife Development Board, Gbenga Adefaye, commended Gov Adeleke for his development strides in Osun State and particularly at Ile Ife, listing requests touching on road expansion, security and agriculture.

He reiterated that “Ile-Ife is our collective heritage. It deserves more than passing attention. As the ancestral home of all Yoruba both here in Nigeria and in the Diaspora, we all owe ourselves the duty to transform it and make it more amiable, more welcoming as the poster place for all proud Yoruba.”

Gov Adeleke subsequently directed the Deputy Governor to ensure follow up on the meeting to ensure sustainable partnership between the state government and the Ile Ife Development Board.

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