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BREAKING: We’re Exiting Darkness Into A New And Glorious Dawn — Tinubu [Full Text Of Presidential Speech]

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  • Upward Review Of Salaries Coming.
  • “We Have Transferred N100b For The Purchase of CNG Buses Before The End of March, 2024”.
  • We’ve Saved Over N1trillion In Two Months Of Subsidy Removal.

President Bola Tinubu said talks with the Organised Labour on salary increases were ongoing as part of his administration’s overall aim to alleviate the effects of inflation on Nigerian workers.

President Tinubu made the announcement during a national broadcast from the Presidential Villa in Abuja, stating that once the conditions of a new minimum wage were agreed upon, budget provisions would be created to pay the review.

The President’s withdrawal of a four-decade-old petrol subsidy on his inauguration day triggered bouts of inflation, severely straining consumers’ purchasing power.

He did, however, commend private-sector organisations who have already taken the initiative to raise the general salary of their staff.

Read the President’s speech full text below;

AFTER DARKNESS COMES THE GLORIOUS DAWN

My fellow citizens,

I want to talk to you about our economy. It is important that you understand the reasons for the policy measures I have taken to combat the serious economic challenges this nation has long faced.

2. I am not going to talk in difficult terms by dwelling on economic jargon and concepts. I will speak in plain, clear language so that you know where I stand. More importantly, so that you see and hopefully will share my vision regarding the journey to a better, more productive economy for our beloved country.

3. For several years, I have consistently maintained the position that the fuel subsidy had to go. This once beneficial measure had outlived its usefulness. The subsidy cost us trillions of Naira yearly. Such a vast sum of money would have been better spent on public transportation, healthcare, schools, housing and even national security. Instead, it was being funnelled into the deep pockets and lavish bank accounts of a select group of individuals.

4. This group had amassed so much wealth and power that they became a serious threat to the fairness of our economy and the integrity of our democratic governance. To be blunt, Nigeria could never become the society it was intended to be as long as such small, powerful yet unelected groups hold enormous influence over our political economy and the institutions that govern it.

5. The whims of the few should never hold dominant sway over the hopes and aspirations of the many. If we are to be a democracy, the people and not the power of money must be sovereign.

6. The preceding administration saw this looming danger as well. Indeed, it made no provision in the 2023 Appropriations for subsidy after June this year. Removal of this once helpful device that had transformed into a millstone around the country’s neck had become inevitable.

7. Also, the multiple exchange rate system that had been established became nothing but a highway of currency speculation. It diverted money that should have been used to create jobs, build factories and businesses for millions of people. Our national wealth was doled on favourable terms to a handful of people who have been made filthy rich simply by moving money from one hand to another. This too was extremely unfair.

8. It also compounded the threat that the illicit and mass accumulation of money posed to the future of our democratic system and its economy.

9. I had promised to reform the economy for the long-term good by fighting the major imbalances that had plagued our economy. Ending the subsidy and the preferential exchange rate system were key to this fight. This fight is to define the fate and future of our nation. Much is in the balance.

10. Thus, the defects in our economy immensely profited a tiny elite, the elite of the elite you might call them. As we moved to fight the flaws in the economy, the people who grow rich from them, predictably, will fight back through every means necessary.

11. Our economy is going through a tough patch and you are being hurt by it. The cost of fuel has gone up. Food and other prices have followed it. Households and businesses struggle. Things seem anxious and uncertain. I understand the hardship you face. I wish there were other ways. But there is not. If there were, I would have taken that route as I came here to help not hurt the people and nation that I love.

12. What I can offer in the immediate is to reduce the burden our current economic situation has imposed on all of us, most especially on businesses, the working class and the most vulnerable among us.

13. Already, the Federal Government is working closely with states and local governments to implement interventions that will cushion the pains of our people across socio-economic brackets.

14. Earlier this month, I signed four (4) Executive Orders in keeping with my electoral promise to address unfriendly fiscal policies and multiple taxes that are stifling the business environment. These Executive Orders on suspension and deferred commencement of some taxes will provide the necessary buffers and headroom to businesses in the manufacturing sector to continue to thrive and expand.

15. To strengthen the manufacturing sector, increase its capacity to expand and create good-paying jobs, we are going to spend N75 billion between July 2023 and March 2024. Our objective is to fund 75 enterprises with great potential to kick-start a sustainable economic growth, accelerate structural transformation and improve productivity. Each of the 75 manufacturing enterprises will be able to access N1 Billion credit at 9% per annum with maximum of 60 months repayment for long-term loans and 12 months for working capital.

16. Our administration recognises the importance of micro, small and medium-sized enterprises and the informal sector as drivers of growth. We are going to energise this very important sector with N125 billion.

17. Out of the sum, we will spend N50 billion on Conditional Grant to 1 million nano businesses between now and March 2024. Our target is to give N50,000 each to 1,300 nano business owners in each of the 774 local governments across the country.

18. Ultimately, this programme will further drive financial inclusion by onboarding beneficiaries into the formal banking system. In like manner, we will fund 100,000 MSMEs and start-ups with N75 billion. Under this scheme, each enterprise promoter will be able to get between N500,000 to N1million at 9% interest per annum and a repayment period of 36 months.

19. To further ensure that prices of food items remain affordable, we have had a multi-stakeholder engagement with various farmers’ associations and operators within the agricultural value chain.

20. In the short and immediate terms, we will ensure staple foods are available and affordable. To this end, I have ordered the release of 200,000 Metric Tonnes of grains from strategic reserves to households across the 36 states and FCT to moderate prices. We are also providing 225,000 metric tonnes of fertilizer, seedlings and other inputs to farmers who are committed to our food security agenda.

21. Our plan to support cultivation of 500,000 hectares of farmland and all-year-round farming practice remains on course. To be specific, N200 billion out of the N500 billion approved by the National Assembly will be disbursed as follows:

-Our administration will invest N50 billion each to cultivate 150,000 hectares of rice and maize.

-N50 billion each will also be earmarked to cultivate 100,000 hectares of wheat and cassava.

22. This expansive agricultural programme will be implemented targeting small-holder farmers and leveraging large-scale private sector players in the agric business with strong performance record.

23. In this regard, the expertise of Development Finance Institutions, commercial banks and microfinance banks will be tapped into to develop a viable and an appropriate transaction structure for all stakeholders.

24. Fellow Nigerians, I made a solemn pledge to work for you. How to improve your welfare and living condition is of paramount importance to me and it’s the only thing that keeps me up day and night.

25. It is in the light of this that I approved the Infrastructure Support Fund for the States. This new Infrastructure Fund will enable States to intervene and invest in critical areas and bring relief to many of the pain points as well as revamp our decaying healthcare and educational Infrastructure.

26. The fund will also bring improvements to rural access roads to ease evacuation of farm produce to markets. With the fund, our states will become more competitive and on a stronger financial footing to deliver economic prosperity to Nigerians.

27. Part of our programme is to roll out buses across the states and local governments for mass transit at a much more affordable rate. We have made provision to invest N100 billion between now and March 2024 to acquire 3000 units of 20-seater CNG-fuelled buses.

28. These buses will be shared to major transportation companies in the states, using the intensity of travel per capital. Participating transport companies will be able to access credit under this facility at 9% per annum with 60 months repayment period.

29. In the same vein, we are also working in collaboration with the Labour unions to introduce a new national minimum wage for workers. I want to tell our workers this: your salary review is coming.

30. Once we agree on the new minimum wage and general upward review, we will make budget provision for it for immediate implementation.

31. I want to use this opportunity to salute many private employers in the Organised Private Sector who have already implemented general salary review for employees.

32. Fellow Nigerians, this period may be hard on us and there is no doubt about it that it is tough on us. But I urge you all to look beyond the present temporary pains and aim at the larger picture. All of our good and helpful plans are in the works. More importantly, I know that they will work.

33. Sadly, there was an unavoidable lag between subsidy removal and these plans coming fully online. However, we are swiftly closing the time gap. I plead with you to please have faith in our ability to deliver and in our concern for your well-being.

34. We will get out of this turbulence. And, due to the measures we have taken, Nigeria will be better equipped and able to take advantage of the future that awaits her.

35. In a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters. That money will now be used more directly and more beneficially for you and your families.

36. For example, we shall fulfill our promise to make education more affordable to all and provide loans to higher education students who may need them. No Nigerian student will have to abandon his or her education because of lack of money.

37. Our commitment is to promote the greatest good for the greatest number of our people. On this principle, we shall never falter.

38. We are also monitoring the effects of the exchange rate and inflation on gasoline prices. If and when necessary, we will intervene.

39. I assure you my fellow countrymen and women that we are exiting the darkness to enter a new and glorious dawn.

40. Now, I must get back to work in order to make this vision come true.

41. Thank you all for listening and may God bless the Federal Republic of Nigeria.

 

BIG STORY

Elumelu Champions Recognition Of Women’s Potential, Challenges Workplace Stereotypes

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The Group Chairman, United Bank for Africa (UBA) and Founder, Tony Elumelu Foundation (TEF), Tony Elumelu, has passionately called for a change of long-standing workplace stereotypes that continue to hinder women’s professional growth and potential.

He said this while delivering a compelling address during a meeting with the Association of Professional Women Bankers (APWB), at the UBA Head office in, Marina, Lagos on Monday.

Elumelu, who highlighted the exceptional abilities of women in business, addressed the additional obstacles women encounter, such as imposter syndrome and unfair stereotypes that portray them as “too emotional” or “sentimental” in professional settings.

“From my experience, women in our group are tenacious, hardworking, and deliver results. They don’t expect special treatment – they command respect,” Elumelu stated.

“My admiration for women comes from personal experience. My 97-year-old mother still goes to the market and cooks for us every Sunday. My wife, five daughters, and two sisters continue to inspire me daily, and the women I work with constantly surpass expectations.”

The chairman noted that his own organisations and those he has invested in stand as a testament to women’s leadership potential.

“At UBA Group for the longest time, our board has been predominantly female, and most of our CEOs are women. At Heirs Holdings Group, women head more group companies than men—not by design, but by merit,” He highlighted.

Elumelu cited examples of women’s leadership within his organizations, noting that Transcorp Group, valued at N4.5 trillion, and Transcorp Hotels Plc, valued at N1 trillion, are both led by women who are breaking barriers and redefining corporate leadership.

Drawing inspiration from the story of Mary Jane Patterson, the first Black woman graduate in America, Elumelu advised the female professionals to build confidence, ignore stereotypes, and focus on personal goals as these are the most prominent ways they could break glass ceilings and open paths for young girls.

“The story of the first Black woman graduate in America, Mary Jane Patterson, resonates deeply. She wasn’t allowed into classrooms, so she stood in hallways to learn. Decades later, this university apologized and awarded her an honorary doctorate. She paved the way for millions of successful Black women today.”

“To all women who are running businesses or climbing the corporate ladder: please note that confidence is key. Ignore stereotypes, focus on your goals, build expertise, and let your work speak for you. As I told the APWB, leadership is about showing what you can do, regardless of labels,” Elumelu concluded.

The Chairperson, Association of Professional Women Bankers (APWB), Funke Feyisitan Ladimeji, who commended Elumelu’s commitment towards female inclusivity and professional advancement, emphasized that his advocacy went beyond rhetoric. She highlighted how his various business concerns continues to provide concrete opportunities for women to excel in leadership roles.

“The chairman’s approach serves as a powerful model for other corporate leaders, which shows that diverse, merit-based leadership is not just possible, but essential for organizational success and societal progress,” she said.

The female attendees at the event agreed that the session was highly enlightening and thought-provoking, as it helped to broaden their minds and gave them more clarity as to their purpose and how they could achieve more if they put their minds to it.

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BIG STORY

Port Harcourt Refinery Halts Operations Over Calibration, Loading Bay Empty

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The fanfare and cheers that greeted the resumption of activities at the Port Harcourt Refining Company on Tuesday may have faded, leaving the hopes and expectations of many Nigerians uncertain.

A visit (by Saturday Punch) to the refinery on Friday revealed that there was no activity on-site, with some workers stating that the refinery was undergoing calibration, which might last until next week.

The Port Harcourt Refinery has faced numerous delays and missed deadlines for resuming operations.

However, on Tuesday, the Group Chief Executive Officer of the Nigeria National Petroleum Company Limited, Melee Kyari, inaugurated the new plant at the Area 5 terminal of the refinery. It was claimed that 200 petrol trucks were loading daily from the plant.

Despite the announcement, skepticism arose as reports circulated that the trucks were being loaded with old products from the storage tanks.

Upon visiting the Port Harcourt Refinery Area 5, it was observed that there were no signs of activity.

An official, who spoke on condition of anonymity, revealed that the loaded trucks contained “dead stock.”

He said, “Before the refinery was shut down between 2015/2016, we had dead stock left in the tank, including some Premium Motor Spirit (petrol) DPK (kerosene), and Automated Gas Oil (diesel).

“So, these products were in large quantities in stores in those tanks. During the rehabilitation of the Port Harcourt Refinery, Old Area 5, those products were evacuated from the tanks for storage.”

However, he noted that the large quantity of refined petrol was “off-spec,” requiring separation from water to obtain the main product in preferred colours.

“But for DPK, it is in large quantity but they have not pushed it from the tank where it was kept after refined ready for commercial purposes.

“So, the product that was loaded was dead stock, that is the old product that was in the system. So, after these dead stocks, they will have to clean the tank, remove all the debris before pumping the new project into that tank, and redye it,” the source said.

The worker highlighted that refineries worldwide should operate electronically, not manually.

“But what they are trying to do at the Port Harcourt Refinery is manual, which cannot match the new digital pumps. Most of the pumps used for the event were refurbished,” he added.

He explained that during Kyari’s visit on Tuesday, seven trucks were prepared for loading, but only five were filled with petrol.

The Chairman of the Independent Petroleum Marketers Association of Nigeria, Taken Ikpaki, while speaking to journalists during the inauguration of the facility on Tuesday, had expressed optimism.

He stated that more trucks were expected to come into the facility to load products in the coming days.

But rather than more trucks coming into the refinery, the number of trucks has dwindled.

Around 1.30pm when our correspondent visited, he observed that most workers and drivers appeared idle as no machinery was operational.

Nine trucks were seen parked, but the loading bay, numbered from one to 18, was empty and deserted, with some workers lying down.

When asked about the lack of loading activity, a worker in overalls said, “They are de-watering, removing the water under the PMS. Maybe there will be loading after that, but we don’t know what time today.”

Another worker at the loading bay mentioned that ongoing calibration was the reason for the delay.

“They are calibrating the meters,” he said tersely.

Findings (by Saturday Punch) showed that the PMS left in the storage might not be enough to fill five trucks.

A source indicated that calibration would continue until Monday, with the loading of DPK (kerosene) and AGO (diesel) expected to start by then.

Speaking to our correspondent, a resident of Alode in Eleme Local Government Area of Rivers State, who simply identified himself as Osaro, said, “After that ceremony with Mele Kyari where they said the refinery had started operation and loading was taking place, what happened afterwards? They continued loading on air, that is on the pages of newspapers and social media.”

When contacted for his reaction on the lack of activities on Friday, the National Public Relations Officer of the Petroleum Product Retail Outlet Owners Association of Nigeria, Dr Joseph Obelle, said it was as a result of ongoing calibration.

Obelle, the PETROAN spokesman, said, “They are calibrating the loading pumps. They will be done today.”

Meanwhile, it was gathered that the Senate Committee on Petroleum visited the refinery on Thursday on a facility tour. The outcome of the visit had yet to be made public.

Calls and text messages to the spokesperson for the NNPC, Olufemi Soneye, were not replied as of the time of filing this report.

But the NNPC had in a statement denied claims by an Alesa community leader, Timothy Mgbere, that the Port Harcourt refinery was not producing fuel.

Soneye accused Mgbere of crass ignorance of how a refinery runs.

He said, “The old and new Port Harcourt refineries have since been integrated with one single terminal for product load-out. They share common utilities like power and storage tanks. This means that storage tanks and loading gantry which he claimed belongs to the new Port-Harcourt Refinery can also receive products from the Old Port Harcourt Refinery.”

He called on the public to disregard claims borne out of “sheer mischief and blatant display of ignorance.”

 

Credit: The Punch

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BIG STORY

Simon Ekpa To Spend Christmas In Detention As Finland Court Denies Him Bail

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  • Followers declare United States of Biafra in Finland

 

 

Pro-Biafran agitator Simon Ekpa, who was arrested in Finland for alleged terrorism-related activities, will spend Christmas in detention, as Finland’s legal system does not allow for bail.

Mikko Laaksonen, a Senior Detective Superintendent at Finland’s National Bureau of Investigation, confirmed this (to Saturday Punch) in an email.

The news comes as Ekpa’s supporters declared the establishment of the United States of Biafra during a conference held in Finland on Friday.

Last week, the Finnish government announced the arrest of Ekpa and four others on suspicion of terror-related offenses, including incitement to violence and terrorism financing.

Finnish police have confirmed that Ekpa, who calls himself the Prime Minister of the Biafra Republic Government-in-Exile, allegedly used social media to incite violence in the South-East region, targeting both civilians and authorities.

According to local publication Yle, Ekpa was remanded in custody by the Päijät-Häme District Court on charges of public incitement to commit a crime with terrorist intent.

The publication reported that the Finnish Central Criminal Police confirmed the arrest in a statement last Thursday, noting that other suspects were apprehended for allegedly financing terrorist activities.

Also, Ekpa is scheduled to face charges in May 2025, according to Finnish authorities.

When asked if Ekpa’s charges were bailable or if the prosecution was disposed to releasing him on bail, Laaksonen said, “Finnish criminal procedure/coercive measures do not recognise bail procedure.

“Our procedure is based on, depending on the case, remand or travel ban as coercive measures for limiting freedom of movement for persons suspected of offences to which such measures are applicable.”

  • Supporters Declare Biafra 

In Finland, Ekpa’s supporters converged on Lahti in Finland on Friday to declare the United States of Biafra.

A few days before the conference, videos circulated on social media showing a significant influx of Nigerians into Finland for the event tagged, ‘Biafra Mass Exodus 2024’.

An X user, @DOlewunne, tweeted, “Huge in Finland Under His Excellency the Prime Minister of Biafra Simon Ekpa (sic). The re-declaration of the Independent State of Biafra/United States of Biafra is in full swing. This historic independent moment is championed by the People of Biafra. We are a Nation! (sic).”

The convener of the convention, who introduced herself as the Chief of Staff of the United States of Biafra and the organiser of the Biafra Declaration of the Restoration of the United States of Biafra Convention 2024 in Finland, is Dr Ngozi Orabueze.

According to several online sources, Orabueze is a family nurse practitioner in Atlanta, Georgia, with expertise in treating diabetes, bipolar disorder, and depression, among other conditions.

She was first appointed by Ekpa in March 2023 as Minister of Health, Oil and Gas, Biafra Republic Government in Exile.

Orabueze, who has over 17,500 followers on X and more than 12,000 on Facebook, wrote on November 27 that the convention was to take place in Lahti, noting that it would kick off with a live X Space event.

On 28 November, she wrote, “Biafrans are trooping into Finland in droves ahead of the re-declaration of the independent state of Biafra,” attaching a video of a large Igbo-speaking crowd awaiting clearance at the Finnish airport.

On Friday afternoon, Orabueze posted on her verified X handle, @ngoziora, that Biafrans had declared an independent state and would now use their own currency (Biafra coins) and time (Biafra time), notifying the Nigerian government and the international community.

The declaration of Biafra’s independence, initially slated by Ekpa for December 2, faced some setbacks following Ekpa’s arrest and prosecution by the Finnish government.

Orabueze wrote, “Breaking: It is done. Biafrans in Finland for the declaration of the independent United States of Biafra. Power belongs to the people.” She later added, “Biafra has been re-declared today, 29th of November 2024, by Ngozi Orabueze, the Chief of Staff, United States of Biafra. Congratulations to all Biafrans all over the world.”

Before the declaration, a video of Ekpa addressing the audience was played online.

Ekpa stated, “We were free before Lord Lugard came. If you want the oil, take it and leave us alone. We are tired of living as baboons and monkeys. We want to be given the opportunity to practise what we have studied.”

As the video ended, the audience began to chant, “USB, USB, USB,” meaning the United States of Biafra.

Afterwards, Orabueze, taking the oath of office, listed the states within the newly re-declared United States of Biafra.

These included Anambra State, Okigwe State, Nnewi State, Ogoni State, Opobo State, Ikwerre State, Etche State, Okrika State, Ngwa State, Orlu State, among others. The crowd cheered her on in both Igbo and English.

After the declaration, the crowd sang an Igbo song, “Biafra aga’m arapu gi,” translating to “Biafra, I will never let you go.”

Earlier in videos and photos shared on X, several members of the group claimed they were just landing at the Finnish airport in Helsinki.

A woman, @Charedims, who took a video while on a flight, said, “Biafrans all over the world from different continents everywhere are converging on Lahti for the convention.

“On December 2, when all votes are counted and collated, a mandate will be given to our prime minister, Simon Ekpa Njoku, who is currently answering some questions with the Finnish authorities; when the votes are counted, he will then declare the restore of the independent state of Biafra, which means he has the legal rights to get us Biafra. That is why you are seeing everybody jumping up and down.”

  • IPOB Disowns Group, MASSOB Denies Claim

Reacting to the development, IPOB’s spokesperson, Emma Powerful, rejected the notion that the group was behind the event.

He stated, “IPOB has no involvement in any conference. Those people (Ekpa’s faction) are criminals supporting illegal activities to destroy our land. There is no such thing as a declaration of Biafra from our side.

“Any claim that IPOB is hosting a conference is false. When IPOB decides to make such an important announcement, the whole world will know. Those making such statements are fake.”

The spokesperson for the Movement for Actualization of the Sovereign State of Biafra, Sunday Edeson, stated that if IPOB succeeded in the realisation of Biafra through its declaration, MASSOB would accept and rejoice with them.

He added that the British government would never support the freedom of Biafra.

“Everyone has the right to declare. They declared their freedom in Finland, but we know that we’re still under Nigerian leadership. We support them.

“Declaring independence in Finland doesn’t mean we’re free from the Nigerian government. We still use Nigerian currency, and security agencies are still from Nigeria. So, we’re still under Nigeria’s control,” Edeson said.

  • Extradition

Meanwhile, a spokesperson for the Ministry of Foreign Affairs, Kimiebi Ebienfa, told Saturday PUNCH that Nigeria did not have an extradition agreement with Finland.

Also, Finland through the Finnish Embassy in Nigeria said it could not comment on the matter.

The Director of Defence Information, Brig Gen Tukur Gusau, had said Ekpa, a self-proclaimed disciple of IPOB leader, Nnamdi Kanu, should be extradited to Nigeria to face criminal charges.

Many Nigerians online also demanded his repatriation to Nigeria to face terrorism charges.

In response to the call for Ekpa’s extradition, a lawyer during ‘The Morning Show’ on AriseTV, Chukwuma Ezeala, said that Finnish-based Nigerian was charged with terrorism and countries involved must cooperate.

He stated that he could be tried in Nigeria or Finland.

“On the issue of extradition, for him to be extradited, there must be a bilateral agreement. From all indications, Nigeria doesn’t have a bilateral agreement with Finland.

“However, since it’s an international crime, he can still be extradited to Nigeria based on international conventions.

“The question will now be, can Nigeria satisfy conditions or requirements of extraditing a person to Nigeria without a bilateral relationship,” Ezeala queried.

 

Credit: The Punch

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