We were living ‘fake life’ before fuel subsidy removal, Forex rate unification - Tinubu – Newstrends
Connect with us

News

We were living ‘fake life’ before fuel subsidy removal, Forex rate unification – Tinubu

Published

on

President Bola Ahmed Tinubu

We were living ‘fake life’ before fuel subsidy removal, Forex rate unification – Tinubu

President Bola Tinubu has acknowledged the harsh impact of his administration’s decisions to remove fuel subsidy and unify the exchange rate but emphasised that these steps were crucial to prevent Nigeria from economic collapse.

Speaking at the 34th and 35th combined convocation ceremony of the Federal University of Technology, Akure (FUTA), Tinubu admitted he wished there were easier alternatives.

However, he described the previous economic state as a “fake good life” that could have led to total collapse without urgent intervention

“The strategic decision to remove fuel subsidies and unify the exchange rate was taken to salvage the country’s future and pull it back from the brink,” Tinubu said, noting that the policies are already yielding positive results.

Represented by Professor Wahab Egbewole, Vice-Chancellor of the University of Ilorin, the President expressed optimism about the economy.

He stated that while Nigeria’s macro economy is improving beyond expectations, the microeconomic framework is gradually stabilizing, steering the country from a consumption-driven to a production-based economy.

Tinubu also encouraged homegrown solutions to Nigeria’s challenges, urging researchers to present innovations that could enhance the well-being of citizens.

READ ALSO:

He reiterated his administration’s commitment to creating an environment where research and production can thrive across various sectors.

He said: “Our tertiary and research institutions are much more relevant at this time. The present economic situation in our country requires our institutions to join our efforts towards giving a better life to our people and making ourselves a prosperous nation.

“I call on the organized private sector to collaborate with our research institutions to develop and replicate our research outputs for the benefit of our citizens and improvement of the economy.

“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 when their services are most required at home. It is heart-rending and the syndrome is not the solution to our problems.

“This administration is committed to restoring the lost glory of the Nigerian educational system devoid of industrial unrest occasioned by students’ and staff unions’ protests and strikes.”

Ondo State Governor, Lucky Aiyedatiwa, said his administration would continue to work with the institution to promote education, innovation, and progress in the state.

READ ALSO:

He said his administration has demonstrated great commitment to the development of education.

“We prioritise the welfare of the State-owned tertiary, secondary, and primary institutions in terms of budgetary provisions, regular salaries, and financial interventions in their critical needs with a view to promoting academic excellence. We shall do much more in the coming years.”

Vice Chancellor of the University, Professor Adenike Temidayo Oladiji, said 6,405 graduands got their first degrees while 1,280 got their postgraduate degrees.

Three Professors, Adebisi M. Balogun, Emmanuel Akinyele Olusegun Laseinde, and Labunmi Lajide were appointed Professor Emeriti.

Honorary degrees were conferred on Professor Daniel O. Olukoya, Mr. Joel Ogunsola, and Mr. Ayorinde O. Ogunruku.

 

We were living ‘fake life’ before fuel subsidy removal, Forex rate unification – Tinubu

News

JUST IN: Tinubu arrives Abu Dhabi for sustainability week

Published

on

President Bola Ahmed Tinubu and Sheikh Shakhboot Nahyan Al Nahyan

JUST IN: Tinubu arrives Abu Dhabi for sustainability week

President Bola Ahmed Tinubu arrived in Abu Dhabi in the early hours of Sunday to participate in the 2025 edition of Abu Dhabi Sustainability Week (ADSW).

President Tinubu touched down at 2:14 a.m. local time and was received by Sheikh Shakhboot Nahyan Al Nahyan, UAE’s Minister of State in the Ministry of Foreign Affairs.

Themed “The Nexus of Next: Supercharging Sustainable Progress,” this year’s ADSW summit will see President Tinubu highlighting Nigeria’s achievements and reforms in energy sufficiency, transportation modernization, public health improvements, and economic development.

READ ALSO:

His presence underscores Nigeria’s commitment to tackling global challenges through sustainable and cooperative strategies.

During the summit, the President is expected to hold bilateral discussions with UAE leaders, focusing on strengthening ties and exploring shared opportunities.

President Tinubu is accompanied by Minister of Foreign Affairs Ambassador Yusuf Tuggar and other senior officials.

He is slated to return to Nigeria on Thursday, January 16.

ADSW 2025, a globally recognized event for sustainability innovation, brings together business leaders and civil society representatives to advance sustainable development and foster economic progress.

Over its 15-year history, the summit has established itself as a key platform for forging partnerships and driving impactful initiatives in clean energy and global growth.

JUST IN: Tinubu arrives Abu Dhabi for sustainability week

Continue Reading

News

Delta Gov Oborevweri sacks commissioner for information 

Published

on

Delta Gov Oborevweri sacks commissioner for information 

 

Delta State Governor, Chief Sheriff Oborevweri, has sacked his Commissioner for Information, Dr Ifeanyi Osuoza.

The governor has reportedly directed the state Commissioner for Works (Rural roads), Charles Aniagwu, to take over the affairs of the ministry.

Director General, Delta State Bureau for Orientation and Communication, Dr. Fred Latimor Oghenesivbe, confirmed the development.

“Charles Aniagwu will take over the two ministries (Works and Information) for the meantime,” he stated.

It was learnt that Osuoza was sacked after a series of complaints of alleged incompetence.

Aniagwu had served as Chief Press Secretary (CPS) and Commissioner for Information during ex-Governor Ifeanyi Okowa’s eight year tenure.

Continue Reading

News

Tinubu to Mahama: You can count on Nigeria’s support

Published

on

President Biola Ahmed Tinubu and Ghana’s newly inaugurated President, John Dramani Mahama

Tinubu to Mahama: You can count on Nigeria’s support

President Bola Tinubu of Nigeria has assured Ghana’s newly inaugurated President, John Dramani Mahama, that he can count on Nigeria’s support.

The remark was made on Tuesday during Mahama’s inauguration ceremony at the Black Star Square in Accra.

He noted that Ghana has answered the question of whether Africa is capable of democratic and productive endeavors, and that it is time for Africa’s critics to stop asking the continent to prove itself.

The Nigerian president emphasized the importance of African unity and cooperation, adding that the legacy of Ghana’s first President, Osagyefo Dr. Kwame Nkrumah is a guiding spirit for African progress. Tinubu urged African nations to avoid conflict and choose peaceful dialogue to resolve differences while resisting external forces that seek to divide them.
Addressing Mahama, Tinubu said, “My dear brother, I am here to work with you. You know you can count on Nigeria’s support at any given time you call on me. We are your brothers and sisters. We shall always be there for you.”

Tinubu’s remarks read:

It is always good when a friend and brother can visit the home of a close neighbour to celebrate his success and progress with him.

READ ALSO:

We celebrate African Democracy today as Ghana and her beloved people mark the transition from one democratic government to another. This moment does more than symbolise another milestone in the evolution of Ghanaian democratic society. It lays to bed the question of whether Ghana and Africa are capable of democratic and productive endeavours. Ghana has answered that question resoundingly. It is time that Africa’s critics stop forgetting the strides your nation, Nigeria and others have made by continuing to ask us to prove ourselves. We have nothing to prove to anyone except ourselves. We have found the critical path to our success. We shall lift our nations out of poverty and build a resilient economy at our own pace.

Today, I am here not only as the President of Nigeria but also as an African in resolute support for Ghana and her people. This moment is a source of pride and honour for you, the entire Continent, and its Diaspora.

The sun is out, and the sky says daylight, but I see today a Black star rising high in the African sky. This black star shines over this nation, and its rays spread across this Continent with a sense of shared history, hope, compassion, unity, and devotion to our common welfare.

While others may seek to demean Africa and keep brother pitted against brother, that shining star reminds us of who we are. Better yet, it reminds us of who we can be. That star means that we shall always strive to work together. Even when we disagree, we shall dialogue and discuss until we reach an agreement. Never, never shall we harm others and never allow any outsider to hurt us or disrupt the unity for which so many of our heroes gave their sweat, blood, and very lives to achieve.

READ ALSO:

The spirit of Ghana’s first President, Osagyefo Dr. Kwame Nkrumah, is here today, lifting that star higher and higher. Just as Ghana draws inspiration and a well of strength from Kwame Nkrumah and many of its past leaders, Nigeria similarly draws inspiration from its founding leaders who not only fought for her independence but also cherished the close relationship between our two nations.

May we always walk in the way and the spirit of these enlightened leaders.

Ghana is in harmony with that spirit, and President John Mahama’s inauguration today reflects that.

Your new president is a man of patriotic vision and substance. He loves his nation and its people to the core. He believes that your nation has a mission and intends for you all to fulfil it. No one can ask more of a leader than that.

President John Mahama and I share a deep friendship. My dear brother, I am here to work with you. You know you can count on Nigeria’s support and goodwill whenever needed. We are your brothers and sisters. The bond is strong and cannot be broken.

May your administration be a profound success and progress for you, Ghanaians, and our entire region.

I am confident that the new government, under the leadership of President John Mahama, will work with Nigeria to strengthen this powerful bond, leading to greater shared prosperity for our people. I have no doubt that your administration will bring about positive change and progress.

Your ascension to power should also mark a new and invigorated momentum in pursuing subregional integration and progress. With laser focus, we can tackle our people’s most pressing concerns: poverty, youth unemployment, instability, insurgency, and many other problems hampering our desired progress.

May Ghana’s democracy continue to grow stronger. May progress and prosperity be your portion. Let us all look forward to a future filled with hope, opportunity, and prosperity.

God bless Ghana and its Beloved People.

God bless Nigeria and its Beloved People

God bless ECOWAS

God bless our Beloved Africa.

I thank you for your kind attention.

Tinubu to Mahama: You can count on Nigeria’s support

Continue Reading

Trending