Cost of living will ease soon, Presidential aide Onanuga - Newstrends
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Cost of living will ease soon, Presidential aide Onanuga

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Bayo Onanuga, special adviser on Information & Strategy

Cost of living will ease soon, Presidential aide Onanuga

Special Adviser on Media and Information Strategy to President Bola Tinubu, Bayo Onanuga, has disclosed that Nigerians will soon experience a reduction in the cost of living, as the effects of the administration’s economic reforms start to materialize.

Speaking to journalists in Lagos on Sunday, Onanuga indicated that the beneficial consequences of Tinubu’s initiatives would soon be felt throughout the country.

Onanuga emphasised that the President had not only implemented progressive changes, but also addressed issues that previous governments had avoided.

He went on to say that two years is insufficient to fully quantify the administration’s accomplishments, pointing out that policy experts normally examine the impact of legislation over a 10- to 12-year period.

“The president’s years in office began with clear policy directions and implementation.

“A lot of reforms have taken place across sectors. The President has laid down many fundamentals that would ensure growth,” he stated.

He admitted that, while the benefits of the president’s initiatives over the last two years were gradually trickling down, the economy had undergone a profound paradigm change, addressing numerous long-standing issues.

Onanuga, while referring to the situation before the subsidy removal, stated that, “There was no fuel. Many stations were saying, No fuel, no fuel.

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“What was happening at that time was that the NNPC had reached the bottom point. It had no money to import fuel; it claimed that it was owing suppliers about six billion dollars, and the government was owing it about four trillion dollars. So, it could not import any more.”

Speaking on concerns about borrowing, Onanuga clarified that it is a common practice globally, with even countries like the U.S. engaging in it.

“Nigeria has abundant resources that we are harnessing, but not as much readily available money as people might think,” he explained.

He emphasised that borrowed monies were not squandered but rather used for their intended goals, citing large-scale projects such as coastal roads, which require external financing due to their enormous benefits.

Onanuga explained that currency devaluation is a universal economic principle, citing examples where the UK and the US have used it.

“Even the UK and the US at some point devalued. These are economic principles that are universal and cannot be changed because it is Nigeria,” he asserted.

He went on to say that the government had made difficult decisions while also creating opportunities through infrastructure development, noting that many ongoing road construction projects were not originally budgeted for.

According to Onanuga, Nigeria’s production and disposable income have increased.

He cited corporations such as Nestlé and Nigerian Breweries, who originally had hurdles but are now sourcing materials locally and generating profits.

“This economy has opened up opportunities in many forms for Nigerians. Those who can really exploit it. And they are making money,” he emphasised, giving examples of individuals making profits from exporting agricultural products like cocoa and even Zobo.

According to Onanuga, many companies are now investing and producing in Nigeria, and these positive shifts will soon become evident and tangible for all Nigerians.

Onanuga emphasised the importance of public understanding of the economic context, saying, “We don’t do our people any good when we keep on pushing stories of gloom and doom without allowing them to see the truth, without allowing them to see the context, and without allowing them to know that there’s actually light at the end of the tunnel.”

Cost of living will ease soon, Presidential aide Onanuga

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Appeal Court Upholds Conviction of Ex-Army General, Orders ₦4bn Refund

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Court of Appeal, Abuja

Appeal Court Upholds Conviction of Ex-Army General, Orders ₦4bn Refund

The Court of Appeal of Nigeria has affirmed the conviction and prison sentence handed to former Major General Umar Mohammed over the diversion of billions of naira belonging to Nigerian Army Properties Limited (NAPL), the property and investment arm of the Nigerian Army.

In a judgment delivered by a three-member panel of justices, the appellate court upheld the earlier decision of a Special Court Martial which found the retired officer guilty of stealing and mismanaging funds belonging to the army-owned company during his tenure as its Group Managing Director.

The court also sustained the order directing him to refund more than ₦4 billion traced to the illegal transactions.

According to the Certified True Copy of the judgment, the justices dismissed Mohammed’s appeal challenging both the jurisdiction of the military tribunal and the outcome of the trial. The appellate court held that the court martial acted within the bounds of the law and relied on credible and admissible evidence to reach its verdict.

The panel—comprising Justice Abba Mohammed, Justice Okon Abang, and Justice Eberechi Nyesom‑Wike—ruled that the prosecution had successfully established the charges brought against the former general.

Mohammed was originally arraigned before the military tribunal on October 10, 2023, where he faced multiple counts of stealing, criminal misappropriation and financial misconduct involving funds belonging to the army property firm.

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After the trial, the court martial dismissed him from military service and sentenced him to imprisonment. The tribunal also ordered him to refund $2,099,700 and ₦1.65 billion to the company as restitution for the diverted funds.

Dissatisfied with the ruling, Mohammed approached the appellate court in February 2025 through an appeal marked CA/ABJ/CR/383/2025, asking that the conviction be overturned on the grounds that the evidence used against him was weak and unreliable.

However, the appellate court disagreed.

The justices ruled that the defence presented by the former officer was riddled with contradictions and could not discredit the evidence already accepted by the court martial.

Part of the judgment highlighted inconsistencies in Mohammed’s testimony. During the proceedings, he had claimed that Nigerian Army Properties Limited did not operate berthing services, but the court noted that documentary records previously authored and signed by him indicated that the company was indeed involved in such operations.

The appellate court held that the conflicting statements weakened his credibility and strengthened the prosecution’s case.

Consequently, the court affirmed the conviction and sentence on most of the charges established by the tribunal, setting aside only the counts relating to alleged forgery.

Mohammed’s legal troubles extend beyond the criminal conviction.

In August 2025, the Federal High Court of Nigeria sitting in Lagos, presided over by Justice Dehinde Dipeolu, ordered the final forfeiture of shares worth more than ₦5 billion linked to the former general and businessman Kayode Filani.

The shares—totalling 245,568,137 units—were found to have been purchased with funds suspected to be proceeds of illegal activities during Mohammed’s leadership of the army-owned company.

The forfeiture followed an application filed by the Economic and Financial Crimes Commission (EFCC), which told the court that its investigations had established that the funds used for the investment were unlawfully obtained.

EFCC counsel Hanatu Kofanaisa informed the court that the Special Court Martial had earlier convicted the former general on 14 out of 18 counts relating to stealing and financial misconduct.

She also explained that the commission complied with all legal procedures for final forfeiture, including public notification through newspaper publications. No individual or organisation came forward to challenge the application.

Justice Dipeolu subsequently ruled that the anti-graft agency had proven its case and ordered the shares to be permanently forfeited to the Federal Government, in favour of Nigerian Army Properties Limited.

The forfeiture proceedings were brought under Section 44(2)(b) of the 1999 Constitution and Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

With the latest ruling by the Court of Appeal, Mohammed’s attempt to overturn his conviction has effectively failed, reinforcing the disciplinary action earlier taken by military authorities and marking a major judicial decision in Nigeria’s ongoing fight against corruption within public institutions.

Appeal Court Upholds Conviction of Ex-Army General, Orders ₦4bn Refund

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JUST IN: Fire Guts Section of Federal Secretariat in Abuja

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Federal Secretariat In Abuja

JUST IN: Fire Guts Section of Federal Secretariat in Abuja

A fire outbreak at the Federal Secretariat Complex, Abuja triggered panic on Monday morning after a section of the Office of the Head of the Civil Service of the Federation was engulfed in thick smoke.

The incident occurred around 8:20 a.m. and affected Section C of the multi-storey building located within the federal government administrative complex in Abuja.

Eyewitnesses said heavy black smoke billowed from the affected floor, forcing workers and visitors to evacuate the building immediately as the situation escalated.

Videos circulating on social media showed plumes of smoke rising from the structure while staff members hurried out of the premises as security officials began clearing the area.

Officials from the media department of the Office of the Head of the Civil Service of the Federation later confirmed the incident, noting that the fire was restricted to Section C of the building.

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“The fire outbreak is limited to Section C of the building and is currently being attended to by emergency officials,” the office said in a statement.

Personnel from the Federal Fire Service and other emergency agencies were quickly deployed to the scene to contain the blaze and prevent it from spreading to other parts of the complex.

Security personnel also cordoned off sections of the secretariat while firefighters battled the flames.

The incident reportedly disrupted normal activities around the complex, with workers temporarily stranded outside the building and vehicular movement around the area slowed as emergency vehicles gained access to the premises.

Authorities have not yet confirmed whether there were casualties or major structural damage, but officials said efforts were ongoing to fully extinguish the fire and secure the facility.

The cause of the fire had not been determined as of the time of filing this report, and investigations are expected to commence once the situation is brought under control.

JUST IN: Fire Guts Section of Federal Secretariat in Abuja

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Osun Youths Storm IBEDC Office Over Prolonged Blackout, Issue 7‑Day Ultimatum

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IBEDC Office

Osun Youths Storm IBEDC Office Over Prolonged Blackout, Issue 7‑Day Ultimatum

Residents and youths in Boripe Local Government Area, Osun State, have staged a protest at the Ibadan Electricity Distribution Company (IBEDC) office, demanding an immediate restoration of stable electricity supply. The demonstrators issued a seven‑day ultimatum for power to be reinstated, citing weeks of erratic supply and prolonged blackouts that have disrupted daily life, economic activities, and education in the area.

The protest was organised by members of the Nigerian Youth Congress, Boripe chapter, who described the blackout as a severe hardship for households, traders, artisans, and students preparing for exams. Group coordinator Hammed Oyetunji explained that many business owners have been forced to rely on generators and alternative energy sources, driving up operational costs and threatening livelihoods.

“The absence of electricity has disrupted economic activities and daily life for residents,” Oyetunji said. “For weeks, our communities have been subjected to prolonged blackout, causing serious hardship to residents, business owners, students, and artisans.” He added that electricity is essential for economic development and public safety, stressing that the blackout has slowed commercial activities and increased financial pressure on households.

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During the protest at IBEDC’s Osogbo office, demonstrators chanted solidarity songs and presented the company with a seven‑day ultimatum to restore Band A electricity classification, which guarantees longer hours of daily supply. Security personnel were deployed to maintain order, but the youths maintained pressure on the company to act immediately.

In response, IBEDC said the blackout is largely due to constraints in the national electricity grid, including limited gas supply to power plants and unstable energy allocations from the Transmission Company of Nigeria (TCN). The company acknowledged increased electricity demand in its franchise areas, particularly after the expansion of Band A feeders, and apologised for the disruption.

“Gas supply shortages to electricity generation plants have significantly reduced generation capacity nationwide, forcing distribution companies to implement increased load shedding,” IBEDC said. The company assured residents that it is engaging stakeholders to stabilise supply and minimise disruptions to homes, businesses, and public services.

The protest in Osun reflects growing frustration across Nigeria over unreliable electricity supply and the fragility of the national grid, with residents calling for urgent reforms and more sustainable power distribution solutions.

Osun Youths Storm IBEDC Office Over Prolonged Blackout, Issue 7‑Day Ultimatum

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