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President Tinubu Injects N2trn To Stimulate Economy

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Nigeria’s President, Asiwaju Bola Ahmed Tinubu, has approved the injection of N2 trillion into the economy to stimulate it.

Wale Edun, the Finance Minister and Coordinating Minister of the Economy, says Tinubu gave the approval on Thursday while unveiling an accelerated stabilisation and advancement plan.

He unveiled the plan while inaugurating the Presidential Economic Coordination Council (PECC) at the State House in Abuja, three months after the formation of a 30-member committee aimed at revitalizing the economy in the short term.

“The sum of that very important exercise is a N2 trillion package involving N350 billion funding for health and social welfare, N500 billion funding for agriculture and food security, N500 billion for the energy and power sector and general business support of about N650 billion,” the minister briefed journalist after the meeting.

“They (PECC members) were presented with the outcomes of Mr. President’s review of the accelerated stabilisation and advancement plan.

“It is an emergency plan to cover the next six months, which Mr. President had directed his economic team, the sub-nationals, and the private sector to put together for his consideration.

“In addition to a range of policy and tax measures, there is a range of executive orders which Mr. President has signed and which are being gazetted to ease the cost of doing business. There are a number of funding which will reduce the cost of interest rates for certain sectors, small and medium scale in particular, but also larger companies.”

The move is coming when the Nigerian economy is facing serious challenges and inflation figures have reached new highs after the removal of fuel subsidy and the floating of the naira.

Labour unions are demanding improved wages, arguing that the cost of living hit new levels.

But Tinubu’s government has repeatedly called for patience and assured Nigerians that its reforms will yield dividends soonest.

BIG STORY

Stakeholders Engagement: Obasa Reels Out Renewed Hope Initiative Achievements

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  • “Renewed hope is not merely a slogan, but a call to action and a vision in progress,” – Obasa

 

Two years into President Bola Ahmed Tinubu administration’s Renewed Hope Agenda, Nigeria, according to Rt. Hon. Mudashiru Obasa, Speaker of the Lagos State House of Assembly, has witnessed an inspiring transformation – a rejuvenation of the economy, a renewal of the national spirit, and a reinvention of the Nigerian state.

Speaking at the 10th Constituency Stakeholders Engagement held inside the Agege Local Government Area secretariat hall on Thursday, Obasa disclosed that this year’s theme, ‘Governance in Action: The Gains of the Renewed Hope Agenda,’ was carefully chosen to highlight the tangible benefits of governance, particularly in alignment with the Renewed Hope Initiative of President Tinubu.

He stated, “This unique programme, which is holding across all the 40 constituencies in the state, gives us a viable opportunity to render an account of our stewardship as well as engage, interact, and strengthen our mutual relationship and solidarity, and to collectively address pressing matters affecting the growth, progress and development of our great community.”

According to Speaker Obasa, “Under the Renewed Hope agenda, the administration has aggressively tackled the challenges of economic stagnation and instability. Strategic economic reforms, including a re-engineering of fiscal policies and revenue-generating mechanisms, have boosted investor confidence and diversified our economy. These reforms have led to an improved credit rating and have laid a strong foundation for economic prosperity and sustainable development,” he said.

Recognising that robust infrastructure is the backbone of development, Speaker Obasa disclosed that the Tinubu administration has launched transformative projects nationwide, including new road networks, upgraded ports, and state-of-the-art public facilities, which he said are not only enhancing the quality of life but also reinforcing Nigeria’s position as a hub for commerce and innovation.

Further, Speaker Obasa said that because agriculture remains central to Nigeria’s quest for food security and self-sufficiency, “The Renewed Hope Agenda has driven significant investments into mechanised farming and modern agricultural practices. Improved access to financing and expanded markets have empowered our farmers, increased production, and positioned Nigeria as a potential agricultural powerhouse.”

He also highlighted the Tinubu administration’s investment in human capital, especially the students’ loan initiative under the Nigerian Education Loan Fund (NELFUND), describing it as a landmark policy that has brought renewed hope to our youths. “Campuses are now more peaceful, infrastructure is improving, and there’s a measure of stability in the academic environment across the federation. Education is once again becoming the tool for empowerment and national development,” he added.

Thus, Obasa opined, “The Renewed Hope Agenda is not by chance; it is a deliberate blueprint for national recovery and sustainability. It is designed to lift millions out of poverty by unlocking economic opportunities for all Nigerians — young and old – men and women, in both urban and rural areas.”

The Speaker drew a parallel between what is happening at the centre and in Lagos State, saying, “In consonance with the national drive for progress, Governor Babajide Olusola Sanwo-Olu has been a pivotal partner in the realisation of this shared vision. His tenure is characterised by innovative urban renewal projects, efficient public service delivery, and legislative collaboration for sustainable growth.

“Lagos, as the commercial nerve centre of Nigeria, has seen groundbreaking infrastructural developments. Modern transport systems, sustainable housing projects, and pioneering urban planning initiatives have transformed our cityscape, making Lagos not only a city of opportunities but a beacon of modern urbanism.”

He added that the proactive engagement between the Executive arm and the House of Assembly has led to the passage of progressive laws that support social welfare, environmental sustainability, and infrastructural innovation. “This strong legislative backing has been instrumental in creating an enabling environment for private investments and public-private partnerships,” Obasa added.

As he reeled out a long list of federal and state government achievements, and those he singlehandedly facilitated in his Agege Constituency, Speaker Obasa was intermittently interrupted by excited constituents belting out popular and political songs, underscoring in no small measure, their appreciation for the man who had dedicated the past 24years of his life to serving them as a legislator.

In his welcome address, Hon. Abdul Ganiyu Vinod Obasa, the acting executive chairman of Agege LGA, was filled with praises for President Tinubu’s steadfast commitment to restoring Nigeria to the path of economic stability and prosperity through the Renewed Hope Agenda. He promised to emulate the president in ensuring that the dividends of democracy reach every member of his community.
The event was attended by constituents, party leaders, traditional rulers, religious leaders, and members of various trade associations, among others.

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JUST IN: President Tinubu Departs For 10-Day Working Vacation In France, UK

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President Bola Tinubu has left Abuja to begin a 10-working-day “working vacation” in Europe as part of his 2025 annual leave, the Presidency announced on Thursday.

In a statement by Bayo Onanuga, Special Adviser on Information and Strategy, the president’s itinerary includes trips to France and the United Kingdom, after which he is expected to return to Nigeria .

The statement did not clarify whether Tinubu will transmit a formal leave notice to the National Assembly under Section 145(1) of the 1999 Constitution (as amended), which allows the Vice President to act in his stead. Notably, both chambers are currently on recess .

This marks another foreign excursion shortly after a diplomatic mission to Japan and Brazil in late August, where Tinubu pursued trade, aviation, and security agreements during meetings in Japan and with President Luiz Inácio Lula da Silva in Brazil .

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I’m The Most Experienced Oyo Governorship Aspirant In APC — Adebayo Shittu

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Adebayo Shittu, current Minister of Communications, has positioned himself as the most experienced candidate in the All Progressives Congress (APC) contest for the Oyo State governorship.

In a statement to journalists in Ibadan, Shittu cited his extensive political track record—spanning roles as a member of the Oyo State House of Assembly in 1979, a two-time State Commissioner, and two previous governorship bids—as qualifications that set him apart from other aspirants. “I was a member of the State House of Assembly in 1979 and two-time Commissioner in the State. I have also contested the governorship seat in the state twice before I became a minister. These are experiences you cannot buy,” he insisted .

Shittu emphasized the importance of experience in governance and governance readiness, underscoring the complexity of Oyo State’s political landscape. He added, “Oyo is advanced and sophisticated to be handled by inexperienced administrators” .

Drawing on his historical ties to Nigeria’s political heritage, Shittu noted that he gleaned invaluable insights from Chief Obafemi Awolowo, a foundational figure of Nigeria’s politics. He argued that this lineage of political mentorship enhances his capacity to govern effectively.

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