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Our Policies Will Propel Economy Out Of Downturn — President Tinubu

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Nigeria’s President, Asiwaju Bola Ahmed Tinubu, says his administration has implemented bold policies to propel Nigeria’s economy out of the downturn caused by multiple shocks in the global economy.

Tinubu, represented by Vice-President Kashim Shettima, spoke on Friday while declaring open the 2024 African Caucus meeting held at the Transcorp Hotel, Abuja.

“As a government, we have initiated bold economic reforms aimed at steering our economy away from the downturns caused by multiple shocks in the global economy,” he said.

”We believe it is a path of recovery and resilience through significant economic transformation.

”Our reform efforts have been strategically focused on fostering fiscal and monetary efficiency, driving sustained long-term economic growth, and catalysing job creation in alignment with the SDGs’ priorities.”

According to Tinubu, his administration remains committed to optimising the nation’s economic potential to deliver favourable outcomes for citizens.

The president also said his government would ensure the overall sustainable development of the regional economy.

”Our efforts are yielding positive results, with improved macroeconomic stability and increased investment,” he added.

He urged African countries to improve the quality of life for people across the continent.

Speaking to African leaders, the president said there is a need to enhance international tax cooperation to combat illicit financial flows and ensure multinationals contribute fairly to economies on the continent.

“We need enhanced international tax cooperation to combat illicit financial flows and ensure that multinationals contribute fairly to our economies,” Tinubu said.

“We must also foster global economic cooperation to tackle shared challenges and leverage opportunities.

“However, we must also acknowledge the need to take responsibility for our own development by undertaking the difficult structural and fiscal reforms required to boost long-term growth.”

On his part, Wale Edun, minister of finance and coordinating minister of the economy, said available data revealed that 41 African countries were set for stronger growth of up to 3.8 percent from about 3.4 percent in 2022.

This, he said, will rise to 4.3 percent in 2025.

Edun, who is also the chairperson of the African Caucus, said these exceeded the global average of about 3.2 percent.

Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), emphasised the significance of the meeting.

He said Africa stood at a “crossroads with unprecedented opportunities for development alongside significant challenges”.

Cardoso also said to navigate this complex landscape and set the continent on the path of sustainable economic growth, Nigeria must leverage the support of global partners.

BIG STORY

FULL LIST: Tinubu Appoints IBB’s Son, Muhammad Babangida Chairman Bank Of Agriculture, Others As Heads Of Govt Agencies

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President Bola Ahmed Tinubu has appointed Muhammad Babangida, the son of the former military President, as chairman of the revamped Bank of Agriculture.

President Tinubu approved the appointment today, along with seven others. Some of them will serve as chairmen or directors-general of Federal agencies.

Muhammad Babangida, 53, is an alumnus of the European University in Montreux, Switzerland, where he earned a Bachelor’s degree in Business Administration and a Master’s degree in Public Relations and Business Communication. He later attended Harvard Business School’s Executive Program on Corporate Governance in 2002.

Others appointed by the President are:

Lydia Kalat Musa (Kaduna State) Chairman, Oil and Gas Free Zone Authority (OGFZA).

Jamilu Wada Aliyu (Kano State) Chairman, National Educational Research and Development Council (NERDC).

The Hon. Yahuza Ado Inuwa (Kano State) is the Standard Organisation of Nigeria (SON) chairman.

Sanusi Musa (SAN, Kano State) is the Chairman of the Institute of Peace and Conflict Resolution(IPCR).

Prof. Al-Mustapha Alhaji Aliyu (Sokoto State) is the Director-General of the Directorate of Technical Cooperation in Africa (DTCA).

Sanusi Garba Rikiji (Zamfara State) is the Director-General of the Nigerian Office for Trade Negotiations (NOTN).

Mrs Tomi Somefun (Oyo State) is the Managing Director of the National Hydro-Electric Power Areas Development Commission (HYPPADEC).

Dr Abdulmumini Mohammed Aminu-Zaria (Kaduna State) has been appointed Executive Director of the Nigerian Integrated Water Resources Management Commission (NIWRMC).

 

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

July 18, 2025

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BIG STORY

Buhari Never Wanted To Congratulate Saraki, Dogara After Emerging Senate President, Speaker — Femi Adesina

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Femi Adesina, who served as Special Adviser on Media and Publicity to the late President Muhammadu Buhari, revealed that Buhari was initially unwilling to congratulate Bukola Saraki and Yakubu Dogara after they controversially became Senate President and Speaker of the House of Representatives in 2015.

Adesina shared this in a tribute to Buhari, reflecting on his early experience as the president’s media aide and the difficulty of balancing loyalty with professional duty.

He explained that the incident happened just nine days after he took up the role of presidential spokesman.

According to Adesina, Saraki and Dogara emerged as leaders of the National Assembly against the preference of the ruling All Progressives Congress (APC).

Although their emergence was viewed as defiant, it still adhered to constitutional norms.

“I told the President we needed to congratulate them. He balked. But I stood my ground. He said no, I also said no. I said it would portray him as undemocratic,” Adesina wrote.

He noted that Buhari later agreed to issue the statement, making only a small addition to the final version.

“At the end of the day, he reasoned with me and the statement was written, with him just adding one word,” he stated.

“Keeping to his word is part of the famed integrity. Argue with me. If you have a better point, I’ll agree with you.”

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BIG STORY

Road To 2027: Everyone Afraid Of Atiku — Dele Momodu Claims As He Joins ADC

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Dele Momodu, the publisher of Ovation International, has said that “everyone is afraid” of former vice-president Atiku Abubakar.

He made this remark while giving reasons for leaving the Peoples Democratic Party, PDP, to join the African Democratic Congress, ADC.

Momodu also confirmed that he would be backing Atiku in the 2027 presidential election.

During an appearance on Channels TV on Thursday, Momodu stated that his endorsement of Atiku stems from a strategic understanding of Nigeria’s political dynamics.

He said: “Everybody is afraid of Atiku, and that is exactly why I, Dele Momodu, support him.

“The fear the ruling party has for him shows he remains the most formidable opposition figure today.

“When everyone is trying to discredit or silence a man, it means he’s the one they truly fear.”

Momodu previously ran for president in 2011 and took part in the PDP presidential primaries in 2022.

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