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Calm down, Nigeria’s economy not in distress, Tinubu tells Nigerians

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President Bola Tinubu has once again assured Nigerians that the economy is not in distress as some “detractors” of his administration may want to claim.

Tinubu, who gave the assurance while speaking on Tuesday at the Leadership Conference and Awards 2023, held in Abuja, where he was honoured with the Leadership Person of the Year 2023, urged Nigerians to “calm down” and trust in his capability to get the nation out of the current economic crisis.

Tinubu, who was represented at the event by the Minister of Information and National Orientation, Mohammed Idris, stated that recent indicators and statistics had shown that his reforms and policies were beginning to yield positive results despite the challenges.

The president also recounted key initiatives and investment efforts by his administration to support Nigerian businesses, students, and vulnerable households, as well as to enhance food security and attract foreign direct investment.

“I should start by respectfully challenging that notion that the Nigerian economy is in distress,” Tinubu said.

“Distress suggests helplessness, being at the mercy of something we have no control over. But that is not the case here.

“We are in challenging times, no doubt, but these times have also been marked by unprecedented opportunities, to reset course and to build a new and sustainable economy, away from the rent-seeking and the waste that was once the order of the day.

“My administration has released intervention funds totaling N200 billion to support Nigerian businesses, in addition to a new Federal Students’ Loan programme and the Presidential Initiative on CNG.

“The N200 billion will be disbursed through three new special intervention funds established to support Nigerian businesses.

“The imminent roll-out of CNG-powered buses which will bring down the cost of transportation by as much as 50 percent.

“The substantial increase in revenues accruing to the three tiers of government since the removal of the petrol subsidy means more funds are available to directly impact the lives of Nigerians through investments in critical infrastructure, social security, and other areas.

“For the poorest and most vulnerable among us, the Social Investment Programme, currently under review to reposition it for maximum impact, will support millions of households with direct cash transfers that will enable them to meet their basic needs.

“Since we assumed office in May 2023, we have attracted $30 billion in Foreign Direct Investment (FDI) commitments into the real sector of the economy, including Manufacturing, Telecoms, Healthcare, Oil & Gas, and others.

“Those investments have already started coming into the country.

“Just a few days ago, I was in Qatar on an official visit, where the Emir assured me that a senior government delegation would visit Nigeria after Ramadan, to begin taking action on some of the new investments they are looking at here.

“I have asked the Minister of Finance and Coordinating Minister of the Economy to directly interface with the Qatari authorities to ensure that speedy progress is made.

“I ask for the continuing patience and support of all Nigerians as we work to restore our beloved country.

“Ours is a story of a country that is taking the right steps, and feeling the fleeting pains that will come with this course of action. A glorious dawn is indeed assured.”

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Zambia: APP leader lampoons PF over pledge to reverse forfeited properties

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Leader of one of Zambia’s opposition parties, Advocates for People’s Prosperity (APP), Mwenye Musenge, has criticised the Patriotic Front (PF) over its promise to reverse forfeited properties if the party won the 2026 presidential election.

Musenge, who was reacting to a statement credited to the PF Member of Parliament (MP) for Lukashya Province, George Chisanga, described the PF’s promise as a betrayal, saying the declaration had exposed the party’s disregard for accountability and justice.

The APP leader, who spoke to Zambia Monitor in a telephone interview from Kitwe, expressed shock that Chisanga, a former Law Association of Zambia president, would endorse what he termed a “regressive agenda,” accusing the PF of prioritising the protection of corrupt individuals over the welfare of citizens.

“This declaration reveals the PF’s true intentions, returning to power not to serve Zambians, but to shield their corrupt network and restore stolen assets,” Musenge said.

He alleged that former President Edgar Lungu’s consistent calls to protect his family, who he claimed cannot explain their amassed wealth, further demonstrate the party’s self-serving mission.

Musenge further described the PF as “a political carcass animated by greed and nostalgia for its days of unchecked looting,” and accused its leaders of leaving Zambia impoverished while enriching themselves.

“Allowing them near power again would be akin to handing a butcher’s knife to a thief already drenched in the blood of the nation’s resources.

“The PF represents everything wrong with Zambian politics—a relic of the past clinging to survival through recycled lies and corrupt agendas,” he added.

Musenge went on to call for the party to be permanently eradicated, saying it had no vision, morality, or credibility to serve Zambians.

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Nigerian Senate confirms influx of terrorists from Mali, Burkina Faso into the country 

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The Nigerian Senate has raised the alarm over the influx of terrorists from Mali and Burkina Faso who operate in the name of Lakurawa, into Kebbi, Sokoto, Kaduna and Niger States in the northern parts of the country.

The Upper Chamber, which raised the alarm during plenary on Wednesday, called on the military to set up early warning mechanisms to forestall further incursions by terrorist groups as well as maintain presence and vigilance in the affected communities to halt the activities of the terror group from spreading further across the region.

The resolutions of the Senate were sequel to a motion titled, “Urgent need for the federal government to take stringent measures to stop the infiltration of a group of violent terrorists, known as Lakurawa, from entrenching themselves in some northwest states of Sokoto and Kebbi,” and was sponsored by the senator representing Kebbi North, Senator Yahaya Abdullahi, and co- sponsored by Senators Adamu Aliero, from Kebbi Central, and Garba Musa Maidoki, representing Kebbi South.

While presenting the motion, Senator Abdullahi said:

“The Senate is aware that a group of terrorists from neighbouring Burkina Faso and Mali, known as Lakurawa, has infiltrated the country through the Nigeria-Niger border, at Illela, Tangaza and Silame Local Government Areas of Sokoto and are from there, attacking communities in Augie and Arewa LGAs in Kebbi State.

“Recall that this violent gang of terrorists had raided and dispossessed these communities, prior to the large-scale invasion of Mera, a village in Augie Local Government, on November 8, 2024, killing more than 20 people and fleeing with their livestock, amounting to hundreds of millions of naira.

“Senate is aware that Kebbi State government promptly responded by sending a delegation with relief materials to the affected villages and assistance to the families of the deceased.

“Aware that Senator Yahaya A. Abdullahi (Kebbi North) and Senator Adamu Aliero (Kebbi North Central) and Senator Garba Musa Maidoki (Kebbi South), along with some members of the House of Representatives from Kebbi State, have been to those areas, to commiserate with victims of the attacks on behalf of the National Assembly.

“Aware that if timely, adequate and decisive measures are not taken, this group can spread its reign of terror to other northern parts of the country and beyond.

“Notes the prompt response of the ministry of defence and the armed forces who despatched a well-armed military response squad that was able to dislodge the terrorists and secured the release of herds of cattle and other livestock stolen by the terrorists. These foreigners have invaded the country.

“We need to nip the situation in the bud, they have international connections, heavily armed with very dangerous weapons, the federal government should take the matter very seriously.

‘These terrorists are well armed with highly sophisticated weapons, this is a very serious matter on national security, they control the whole of Northern Mali and now attacking Kebbi, Sokoto, Kaduna, Niger, and others. The time to act is now, we have to take action on how to tame terrorism.”

He said the Senate should revisit past resolutions on terrorism and send them to the Presidency for immediate action.

”I want us to recall what happened in the 8th and 9th Senates. We discussed extensively how we can stem the tide of banditry and terrorism. We made far-reaching recommendations, and we asked the Executive arm of government to implement those resolutions.

“It is still relevant for us to insist that those resolutions should be implemented, if we do so, it will reduce the incidences of banditry and insurgency in the country. We can reduce it to the barest minimum.”

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