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BREAKING: I Have Informed Buhari Of My Intention To Run For President In 2023 —- Tinubu

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The National Leader of the All Progressives Congress, Bola Tinubu, says he has informed the President, Major General Muhammadu Buhari (retd.), of his intention to contest the presidential election in 2023.

Tinubu stated this on Monday while briefing State House correspondents after he met with Buhari at the Aso Villa in Abuja.

According to him, the President is a democrat and therefore, has not asked him to stop the pursuit of his ambition which for him is life-long.

Tinubu said, “I have informed the President of my intention but I’ve not informed Nigerians yet. I am still consulting and I have no problem consulting and I have not set a parameter of limitation to the extent of how many people will I consult. You will soon hear all you want to hear; it is a categorical declaration. You’ve gotten that truth from me that I have informed Mr President of my ambition.”

The former governor of Lagos State stressed that he has the confidence, vision, and capacity to build on the foundation laid by Buhari to turn around the fortunes of the country.

It was earlier reported that the Minister of Works and Housing, Babatunde Fashola, in 2021 said Tinubu would make his intention whether to run or not for President known in January 2022.

Of recent, posters and billboards advertising the presidential bid of Tinubu, who was Lagos governor from May 1999 to May 2007, have been seen in major cities, including Lagos and Abuja.

Lagos State Governor, Babajide Sanwo-Olu, had in October 2021 inaugurated the South-West Agenda 2023, a political movement mobilizing support for Tinubu to contest the 2023 presidential election.

Tinubu, who celebrated his 69th birthday in March 2021 and commands an arguably large following of political loyalists, has been reported to nurse presidential ambition in 2023, even as political debates get intense for a southern president after the eight-year regime of Buhari, who is from Katsina State, North-West Nigeria.

Between July and October 2021, while Tinubu was in the United Kingdom for knee surgery and physiotherapy, over 50 politicians, including the President, six governors, dozens of senators, and House of Representatives members, visited him at his London home and turned the place to a Mecca of sort.

In October 2021, the Northern Caucus of House of Representatives, led by Deputy Speaker, Ahmed Idris Wase, had also paid a get-well visit to the APC leader in London and declared support for Tinubu’s reported 2023 presidential ambition.

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Federal Government To Grant Mining Licenses To Only Companies That Process Locally

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Nigeria will only grant new mining licences to companies that present a plan on how minerals would be processed locally, under new guidelines being developed, a government spokesperson confirmed on Thursday.

This is a departure from Nigeria’s long-standing practice of exporting raw commodities, as governments around Africa work to increase the value derived from their substantial mineral reserves.

To spur investment, Nigeria will offer investors incentives including tax waivers for importing mining equipment, make it easier to secure electricity generation licences, allow full repatriation of profits and boost security, Segun Tomori, a spokesperson for Nigeria’s minister of solid minerals development said.

“In exchange, we have to review their plans for setting up a plant and how they would add value to the Nigerian economy,” Tomori said. He did not say when the guidelines would be finalised or come into effect.

However, last week the minister of solid minerals development, Dele Alake, said it was now government policy to make value addition a condition for obtaining licences so as to create jobs and help local communities.

Alake, who also chairs an African mining strategy group comprising mining ministers from Uganda, Democratic Republic of Congo, Sierra Leone, Somalia, South Sudan, Botswana, Zambia and Namibia, is pushing for a continent-wide effort to get maximum local benefit from mineral exploration.

Nigeria, Africa’s top energy producer, has struggled to extract value from its vast mineral resources due to poor incentives and neglect. The underdeveloped mining sector contributes less than 1% of the country’s gross domestic product.

Last year Nigeria exported mostly tin ore and concentrates worth about 137.59 billion naira ($108.34 million), mainly to China and Malaysia, according to the country’s statistics bureau.

The government aims to drive more investment into the sector by issuing more licenses. It has set up a state-owned solid minerals corporation offering investors a 75% stake and established a special security unit tasked with fighting illegal miners.

The government is also trying to regulate artisanal miners, who dominate the sector, by grouping them into cooperatives.

Foreign mining companies operating in Nigeria include Canada-based Thor Explorations which is involved in gold exploration, Chinese-owned Xiang Hui International Mining which partnered with a local company to process gold, and Indian-owned African Natural Resources and Mines, which is building a $600m iron ore processing plant in northern Nigeria.

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Governor Babajide Sanwo-Olu Felicitates President Tinubu At 72

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Governor Babajide Sanwo-Olu, has congratulated President Bola Ahmed Tinubu on his 72nd birthday, describing him as a brave, bold, and passionate leader who is dedicated to the advancement, growth, and development of Nigeria.

He said that President Tinubu’s contribution to the nation’s growth is cause for celebration, citing the President’s unparalleled bravery, integrity, honesty, and patriotism in his efforts to steer Nigeria’s ship in the correct path since he into office on May 29, 2023.

Governor Sanwo-Olu, in a statement issued on Thursday by his Special Adviser, Media and Publicity, Mr. Gboyega Akosile, said President Tinubu has provided honest and transparent leadership in Nigeria by taking bold decisions to address challenges militating against the prosperity of Nigeria and Nigerians.

Sanwo-Olu further described the President as a visionary and master strategist whose democratic credentials are scholarly materials for study in political economy.

He said: “On behalf of my family, the government, the people of Lagos State,  members of the Governance Advisory Council (GAC), leaders, and members of the ruling All Progressives Congress (APC) in Lagos State, I congratulate our leader, President Bola Tinubu, on the occasion of his 72nd birthday.

“President Tinubu has sacrificed the greater part of his life in the service of our dear State and Nigeria. He contributed to the enthronement of democracy and good governance, serving first as a Senator in the aborted third republic and later as a pro-democracy activist, working tirelessly as a member of the National Democratic Coalition (NADECO) to struggle for the de-annulment of the June 12, 1993 presidential election.

“President Tinubu’s financial wizardry and economic intellect, which he put to good use as the Governor of Lagos State, have taken our dear state to a greater height. Today, Lagos is the pride of Nigeria, occupying an enviable position as the fifth largest economy in Africa.

“President Tinubu has made positive impacts in the country through the Renewed Hope agenda of his administration. His unblemished service and track record of impressive achievements in public office have made him a role model for many Nigerians.

“As President Tinubu celebrates his 72nd birthday, it is our prayer that God will grant him more prosperous years in good health and wisdom as he continues to serve our dear nation.”

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JUST IN: CBN Increases Banks Capital Base To N500bn, N200bn For National Commercial Banks

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The capital basis for commercial banks with international permission has been raised to N500 billion by the Central Bank of Nigeria (CBN).

The policy change was confirmed by Mrs. Hakama Sidi Ali, CBN’s acting director of corporate communications. in a declaration.

She added that commercial banks with regional authorization are expected to reach a capital floor of N50 billion, while those with national authority must meet a ceiling of N200 billion.

Announced on Thursday, March 28, 2024, this comprehensive financial reform requires significant increases in banks’ minimum capital bases, which vary depending on the size of the bank.

The latest policy directive specifies that commercial banks with international authorization are now required to shore up their capital base to N500 billion.

In a bid to tighten the financial fabric, the CBN has not overlooked merchant banks, which are now subject to a N50 billion minimum capital requirement.

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