Tinubu

President Bola Tinubu will depart Abuja on Wednesday to begin a state visit to France in honour of an invitation from President Emmanuel Macron.

Bayo Onanuga, media aide to the president, announced this on Tuesday, November 26.

He said the Nigerian leader’s three-day visit, will “focus on strengthening political, economic, and cultural relations and establishing more opportunities for partnership, particularly in agriculture, security, education, health, youth engagement and employment, innovation, and energy transition, promises significant benefits for Nigeria.”

Onanuga said President Tinubu and his wife, Sen. Oluremi Tinubu, will be received on Thursday at the 350-year-old French military museum, Les Invalides and Palais de l’Élysée, by Macron and his spouse, Brigitte, for initial ceremonies that will dovetail into bilateral meetings.

“During the visit, President Tinubu and President Macron will harmonise positions on stimulating more interest in exchange programmes that focus on skill development for youths and improving their competencies in automation, entrepreneurship, innovation, and leadership.

“Both leaders will participate in political and diplomatic meetings highlighting shared values on finance, solid minerals, trade and investments, and communication.

“They will also witness a session by the France-Nigeria Business Council, which oversees private sector participation in economic development,” he said.

The statement added: “Brigitte and Nigeria’s First Lady will discuss the latter’s passion for empowering women, children, and the most vulnerable through the Renewed Hope Initiative.

“President Tinubu and his wife will be hosted at a state dinner by the French leader before their departure. Top government officials will accompany President Tinubu on the trip.”

President Bola Tinubu has asked the National Assembly to approve fresh N1.767trn external borrowing plan in support of the 2024 Budget.

The president conveyed his request in a letter written to Senate President Godswill Akpabio and Speaker of the House of Representatives, Tajudeen Abbas.

The presiding officers read the letter during plenary, on Tuesday.

The president said if approved, the loan would be used to partly finance the N9.7trn deficit in the 2024 budget.

He said his request, which has been approved by the Federal Executive Council (FEC), aligns with Section 21(1) and 27(1) of the Debt Management Office Act.

Tinubu has also forwarded the Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) 2025-2027 to the National Assembly and the National Social Investment Programme Establishment Amendment Bill, to make the social register the primary tool for the implementation of the federal government’s social welfare programmes.

The Federal Government had approved a $2.2billion external borrowing plan last week.

The president’s letter outlined three potential financing options to raise the required funds which include issuance of Eurobonds, Sovereign Sukuk and Bridge Finance/Syndicated Loans.

On Eurobonds, he said Nigeria could raise all or part of the funds through Eurobond sales in the International Capital Market (ICM).

President Tinubu noted that the ICM remains accessible to countries like Nigeria, citing recent issuances by Côte d’Ivoire, Kenya, and Cameroon in 2024.

President Bola Tinubu has approved the appointment of Daniel Bwala, Special Adviser, Media and Public Communications, State House.

Others appointed on Thursday include three Nigerians as directors-general of various agencies.

The new appointees, as announced by Bayo Onanuga, Special Adviser to the President, Information and Strategy, include Mr Olawale Olopade, Director-General, National Sports Commission; Dr Abisoye Fagade, Director-General, National Institute for Hospitality and Tourism; and Dr Adebowale Adedokun, Director-General, Bureau of Public Procurement.

Olopade, the new Director-General of the National Sports Commission, is a sports administrator with many years of experience in the sector.

He served as Commissioner of Youth and Sports in Ogun State and was chairman of the Local Organising Committee of the 2024 National Sports Festival.

The new Director-General of the National Institute for Hospitality and Tourism, Dr. Abisoye Fagade, is a marketing communication professional. He is the founder and managing director of Sodium Brand Solutions.

There seems to be no end in sight to hike in food prices driven largely by the economic policies of President Bola Tinubu.

A survey by Peoples Gazette on Tuesday, showed that the price of a 50 kilogram rice, a staple mostly consumed by households in Nigeria, has crossed the N100,000 mark.

According to the survey, Caprice now goes for N123,500, Disney Princess N102,000, Saelony N110,000, Big Bull N113,000, Mamas Pride N114,000, while Tomato Gold is N148,500.

Meanwhile, consumers have recently started becoming familiar with Big Bull sachet rice which costs N300, although N200 was inscribed on the pack, indicating a recent price increase.

Experts linked the high cost of commodities in the country to weak naira, which according to the FMDQ Exchange, as of November 12, 2024, slipped to an all-time low of ₦1689.88 at the official Investor and Exporter window.

They also identified the continued increase in fuel price by the Tinubu government which prior to assumption of office on May 29, 2023, was ₦175 per litre. But it is now N1,030 as of the last hike in October 2024, representing almost a 500 per cent increase within the period.

The development negated the campaign promise of Mr Tinubu in Ogun State to reduce slash petrol pump price if elected.