President Bola Tinubu says the good life that Nigerians thought they were living prior to his administration was fake and capable of collapsing the country.

Speaking on Saturday during the 34th and 35th combined convocation ceremonies of the Federal University of Technology Akure (FUTA) in Ondo state, Tinubu stated that the removal of the petrol subsidy and the unification of exchange rates were necessary to save Nigeria from the brink of collapse.

Tinubu announced the end of the petrol subsidy on May 29, 2023, during his inauguration.

The Central Bank of Nigeria (CBN) also announced the unification of all segments of foreign exchange markets.

The president, represented at the event by Wahab Egbewole, vice-chancellor of the University of Ilorin, said his administration took decisive action to avert economic disaster and secure the future of Nigerians.

“As you are all aware, we took the baton of authority at a time when our economy was nose-diving as a result of heavy debts from fuel and dollar subsidies,” Tinubu said.

“The subsidies were meant to support the poor and make life better for all Nigerians. We are all aware of the fact that the poor and average Nigerians were the sufferers of what was supposed to give them succour and improved standard of living.

“Unfortunately, the good life we thought we were living was a fake one that was capable of leading the country to a total collapse unless drastic efforts were urgently taken.

“The need to salvage the future of our children, and bring the country back from the brink of collapse necessitated the strategic decisions to remove the fuel subsidy and also unify the exchange rates. I am not unaware of the consequences of the tough decisions on our people. I sincerely wish there could be softer options.”

The president expressed optimism that the policies are already yielding positive outcomes.

He noted that the country’s macro-economic indicators are improving daily, while the micro-economy, which directly affects citizens, is gradually taking shape.

Tinubu added that Nigeria is transitioning from a consumption-driven economy to one focused on production across all aspects of human endeavours.

• ‘YOUTHS MIGRATION HAVE LED TO BRAIN DRAIN IN NIGERIA’

Tinubu called on the graduants to join hands with his administration “to recover our lost glory and virtues.”

The president also condemned the widespread migration of youths in search of “greener pastures,” stressing that the trend has led to significant brain drain in all sectors of the nation’s economy.

“Many of our youths have chosen the supposed easy option of emigrating to the proverbial greener pastures where their citizens had rolled up their sleeves to bring their nations back from the brinks in their times of trouble,” Tinubu said.

“Such inclination has led to the brain drain syndrome that we now experience in all areas of our endeavours as a nation.

“Our intellectuals and experts on whom the nation has massively invested huge resources to train in the interest of our country are migrating overseas in large numbers at a time their services are most required at home.

“It is heart-rending and the syndrome is not the solution to our problems. We are not Nigerians by accident, and I believe that the Almighty God who made us Nigerians has given us the required wisdom to turn things around for our betterment.

“The present challenges call for a high degree of patriotism and I can assure all Nigerians that there is light at the end of the tunnel. After rain comes sunshine. The brighter days are almost here.”

Tinubu said the renewed hope agenda is on track, assuring Nigerians that his administration will remain steadfast in its pursuit of a better and greater nation.

President Bola Tinubu will leave France on Monday for Cape Town, South Africa, to co-chair the 11th session of the Nigeria-South Africa Bi-National Commission alongside President Cyril Ramaphosa.

Tinubu’s Special Adviser on Information and Strategy, Mr. Bayo Onanuga, disclosed this in a statement he signed on Sunday, titled ‘President Tinubu to co-chair 11th session of the bi-national commission with President Ramaphosa.’

Onanuga said, “The presidential BNC, scheduled for Tuesday, December 3, will be preceded by a ministerial meeting on December 2, 2024, at the South African Parliament Building in Cape Town.

“President Tinubu and President Ramaphosa will engage in substantive talks on a wide range of issues of mutual interest, including bilateral, regional and international matters.

“Building on the commitments from their June 20, 2024, meeting in Johannesburg shortly after President Ramaphosa’s inauguration for a second term in office, the two leaders will review the progress achieved since the 10th session of the BNC held in Abuja from November 29 to December 1, 2021.”

The 11th session of the BNC will feature deliberations across eight working groups, each focusing on a specific area of mutual interest.

These include political consultations, consular and migration, banking and finance, defence and security, manufacturing, social sector, mines and energy, and trade and investments.

At the high-level meeting, officials of both countries will sign several Memoranda of Understanding and agreements.

The Nigeria-South Africa Bi-National Commission was established in 1999 to further strengthen the ties of friendship and cooperation between the two nations.

The first session at the Heads of State level was held in October 2019 in Pretoria.

The BNC provides a platform for sustaining high-level dialogue and promoting cooperation in critical areas such as diplomacy, economy, trade, security, and other areas of mutual interest.

The Presidency noted that this year’s meeting is particularly significant as it coincides with the 25th anniversary of the Commission, “a testament to the enduring friendship and cooperation between Nigeria and South Africa,” it added.

President Tinubu will be accompanied by a high-level delegation comprising state governors, ministers, and senior government officials.

He is returning to South Africa for the second time in 2024, marking his 33rd foreign trip since assuming office 18 months ago.

So far, the President has spent 135 days abroad, visiting 17 countries, and accumulated about 285 flight hours.

Countries visited include Paris, France (five times); Malabo, Equatorial Guinea; London, the United Kingdom (four times); Bissau, Guinea-Bissau (twice); Rio de Janeiro, Brazil; Nairobi, Kenya; Porto-Novo, Benin Republic; The Hague, Netherlands; Pretoria, South Africa; Accra, Ghana; New Delhi, India; Abu Dhabi and Dubai in the United Arab Emirates; New York, the United States of America; Riyadh, Saudi Arabia (twice); Berlin, Germany; Addis Ababa, Ethiopia; Dakar, Senegal; and Doha, Qatar.

He will return to Nigeria after the BNC meeting.

The Minister of Interior, Olubunmi Tunji-Ojo, has ordered an investigation into allegations of salary deductions affecting paramilitary officers.

Earlier report had it that some officers from the Nigeria Prisons Service, Nigeria Security and Civil Defence Corps (NSCDC), and Nigerian Immigration Service (NIS) had claimed they hadn’t received promotion arrears and were experiencing deductions from their salaries by the Integrated Payroll and Personnel Information System.

The affected personnel had called on President Bola Tinubu to intervene and investigate why their allowances hadn’t been paid, despite funds being released.

They also pointed out that their colleagues in the Federal Fire Service and other agencies under the Ministry of Interior had received their promotions and allowances.

In response to the allegations, the Secretary of the Civil Defence, Correctional, Fire, and Immigration Services Board, Ahmed Ja’afaru, assured the officers that a comprehensive investigation is underway to address their concerns.

In a statement released on Sunday, Ja’afaru said, “The attention of the Civil Defence, Correctional, Fire and Immigration Services Board has been drawn to an online publication of complaints from officers of the paramilitary services under its purview, alleging deductions from their salaries by the Integrated Payroll and Personnel Information System, as well as delays in the payment of promotion arrears.

“Consequently, the Minister/Chairman of the Board, Olubunmi Tunji-Ojo, has directed that a comprehensive investigation be carried out forthwith by the Board on the matter while calling on officers of the paramilitary services to remain calm.

“The Board wishes to assure our dedicated officers of its commitment to achieving a swift and positive resolution to these matters.”