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Northern leaders dump Tinubu, eye alternatives for 2027 presidency

by Folarin Kehinde October 27, 2024
written by Folarin Kehinde

Northern political leaders are reportedly facing a complex decision as they consider potential candidates for Nigeria’s 2027 presidential election.

According to sources, economic hardship, mounting youth discontent, and a sense of unfulfilled expectations from President Bola Tinubu’s administration are influencing this dilemma.

Despite their support for Tinubu in the 2023 election, many Northern leaders feel that the North has not seen adequate returns on this alliance, especially as economic challenges disproportionately impact the region.

The Northern leadership’s concerns are compounded by memories of widespread youth protests, such as those seen during the #EndBadGovernance movement, which saw substantial involvement from the North.

Leaders worry that sustained dissatisfaction may fuel further unrest, and they are therefore actively exploring candidates who could credibly contest the presidency.

Some sources close to Northern politicians indicate that prominent figures across the North-West are engaging in discussions to identify a strong contender capable of offering a formidable challenge to President Tinubu.

While no final decisions have been made, insiders revealed that Northern leaders are considering a few Southern politicians who could stand against Tinubu.

Balancing this choice with regional interests, the leaders are reportedly also vetting potential Northern running mates, including former Kano State Governor Dr. Rabiu Musa Kwankwaso and ex-Sokoto State Governor Aminu Tambuwal, among others.

However, the Northern bloc remains wary of potential opposition tactics centred on zoning and regional allegiances, particularly as any Southern-backed candidate must be able to rival Tinubu’s established influence and resources.

This debate reflects growing fears that continued support for Tinubu in 2027 could alienate the Northern youth population, who are increasingly vocal about issues like unemployment, inflation, and insecurity.

Many Northern leaders are reportedly hesitant to endorse Tinubu again, fearing that an unchanged administration could erode their standing with younger constituents.

“A credible person from the North-West is likely to be chosen as the running mate.

“For now, Northern politicians are still in search of a reputable candidate for 2027. Many, however, are unlikely to support the current administration again,” a source told Nigerian Tribune.

October 27, 2024 0 comments
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Headlines

FG Offers 50% Tax Cut to Encourage Companies to Raise Employee Wages

by Folarin Kehinde October 26, 2024
written by Folarin Kehinde

The Federal Government has proposed a 50% tax cut for companies that increase wages or provide transportation subsidies to low-income employees.

This incentive, detailed in a bill from the National Assembly, aims to reform Nigeria’s tax system and support lower-income earners amid rising costs.

According to the bill, titled “A Bill for an Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks relating to Taxation and Enact the Nigeria Tax Act,” companies that raise salaries to a monthly gross of N100,000 or less or offer transportation allowances will qualify for the deduction.

“A company shall be entitled to an additional deduction of 50 per cent in the relevant years of assessment in respect of costs incurred in 2023 and 2024,” the bill states.

However, this relief is limited to workers earning N100,000 or below. Additionally, companies that expand their workforce with new hires in 2023 or 2024, leading to a net employment increase, will also qualify, provided the new hires remain employed for at least three years.

The Federal Government is also introducing an Economic Development Incentive Certificate, which offers tax benefits to firms investing in capital projects.

Companies must apply for this certificate through the Nigerian Investment Promotion Commission (NIPC). Applications are subject to a 0.1% fee on capital expenditures, capped at N5 million.

Applications approved by the NIPC will be recommended to the Minister and potentially forwarded to the President for final approval.

This bill underscores the government’s commitment to fostering economic growth through job creation and workforce support initiatives.

October 26, 2024 0 comments
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Tinubu
Headlines

Tinubu restricts ministers, head of agencies to three Official Vehicles

by Folarin Kehinde October 24, 2024
written by Folarin Kehinde

President Bola Tinubu has restricted Ministers, Ministers of State, and Heads of Agencies of the Federal Government to a maximum of three vehicles in their official convoys.

No additional vehicles will be assigned to them for movement.

The cost-cutting measure was announced today in a statement signed by the President.

In January this year, President Tinubu took significant steps to reduce government expenditure, by reducing his entourage on foreign trips from 50 to 20 officials. For local trips, he reduced it to 25 officials.

He similarly reduced the Vice President’s entourage to five officials on foreign trips and 15 for local trips.

In the directive issued today, President Tinubu also ordered all ministers, ministers of state, and heads of agencies to have at most five security personnel attached to them.

The security team will comprise four police officers and one Department of State Services (DSS) officer.

No additional security personnel will be assigned, he ordered.

President Tinubu instructed the National Security Adviser to engage with the Military, Paramilitary and Security Agencies to determine a suitable reduction in their vehicle and security personnel deployment.

All affected officials are expected to comply with these new measures immediately, underscoring the urgency and seriousness of these changes.

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

October 24, 2024

October 24, 2024 0 comments
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Headlines

BREAKING: Tinubu asks senate to confirm seven ministerial nominees

by Folarin Kehinde October 24, 2024
written by Folarin Kehinde

President Bola Tinubu on Thursday asked the Senate to confirm seven new ministerial nominees.

This was contained in a letter from the executive and read by Senate President Godswill Akpabio on the floor of the upper legislative chamber.

Leading reporters recalls that President Tinubu on Wednesday sacked at least five ministers and scrapped two ministries.

The president also assigned new portfolios to some Ministers in the Wednesday cabinet shake-ups.

Details shortly….

October 24, 2024 0 comments
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Business

BREAKING: Nigeria’s Public Debt Hits N134.3 Trillion in Q2 2024

by Folarin Kehinde October 24, 2024
written by Folarin Kehinde

Nigeria’s public debt has reached an all-time high of N134.3 trillion, as of the end of the second quarter of 2024.

This represents a sharp increase compared to the N121.7 trillion recorded just a few months earlier in the first quarter.

The main reason for the increase is the devaluation of the country’s currency, the naira. According to a report from the Ministry of Finance, the dollar amount of the debt has not changed much, but because the naira has lost value, the debt appears larger when counted in local currency.

“In Q2 2024, the debt stock grew in naira terms to N134.3 trillion ($91.3 billion) from N121.7 trillion ($91.5 billion) in Q1 2024, driven mainly by exchange rate devaluation. The dollar amount of debt was roughly the same,” the report said.

Nigeria’s debt is split between domestic and external loans. About 53% of the debt is local, meaning it is owed to creditors inside Nigeria. This local debt is worth N71.2 trillion. The other 47%, or N63.1 trillion, is foreign debt owed to other countries and international financial institutions.

The report also shows that the country’s debt-to-GDP ratio, which compares the total debt to the size of the economy, has risen above 50%.

October 24, 2024 0 comments
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Entertainment

VIDEO: “I have romantic feelings for President Tinubu, I wish to marry him” Hausa Lady Speaks

by Folarin Kehinde October 24, 2024
written by Folarin Kehinde

A young Hausa woman has professed her love for President Bola Tinubu, saying she has romantic feelings for the president.

In a widely circulating video, the young lady disclosed this on Amana TV and expressed her feelings to marry the president.

Watch video below:

The young woman disclosed on Amana TV revealed she has romantic feelings for President Tinubu and shared her wish to marry him. pic.twitter.com/6Fk7dpumDH

— CoreTV News (@coretvnewsng) October 24, 2024
October 24, 2024 0 comments
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Headlines

Cabinet reshuffling: Handover before October 30, FG directs discharged ministers

by Folarin Kehinde October 24, 2024
written by Folarin Kehinde

The Federal Government has directed all outgoing ministers to complete the handing over and taking over processes on or before October 30.

This followed the reshuffling of the Federal Executive Council (FEC) by President Bola Ahmed Tinubu on Wednesday leading to the discharge of five ministers, nomination of seven news persons for ministerial appointment, reassignment of ten ministers and restructuring of some ministries.

In a memorandum on Wednesday evening, Secretary to the Government of the Federation (SGF), Senator George Akume, outlined the transition process.

According to the memorandum, outgoing ministers without incoming counterparts are expected to hand over to Permanent Secretaries.

The memo further said the SGF’s office, in collaboration with the Head of Civil Service of the Federation, is coordinating the merger of the Ministry of Tourism with the Ministry of Arts, Culture and Creative Economy, and the winding down of the defunct Ministry of Sports Development.

It said the renaming and expansion of the mandate of the defunct Ministry of Niger Delta Development takes immediate effect, adding that relevant supervising authorities and commissions under the new ministry have been notified.

Permanent Secretaries of affected ministries must ensure seamless implementation and forward copies of handover notes to the SGF’s office for record-keeping purposes.

“Necessary directives have been issued on the implementation of the approval of Mr President, accordingly.

“All handing over and taking over processes should be completed on/or before Wednesday 30th October, 2024.

“In the case of Ministries where there are no Ministers to take-over, the out-going Ministers should hand over to the Permanent Secretaries.

“The processes for the seamless merger of the Ministry of Tourism with Ministry of Arts Culture and Creative Economy as well as the winding-down of the defunct Ministry of Sports Development are
being coordinated jointly by the Offices of the Secretary to the Government of the Federation and the Head of Civil Service of the Federation.

“Similarly, the renaming and the expansion of mandate of the defunct Ministry of Niger Delta Development is to take immediate effect. The releasing supervising authorities as well as Commissions under the new Ministry have been duly notified on this development.

“Respective Permanent Secretaries are directed to ensure seamless implementation and also forward one copy each of the hand-over notes to the Secretary to the Government of the Federation for the records,” the memorandum reads.

October 24, 2024 0 comments
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Headlines

JUST IN: Workers Jubilate as President Tinubu sacks Women Affairs Minister [VIDEO]

by Folarin Kehinde October 23, 2024
written by Folarin Kehinde

Workers from the Ministry of Women Affairs were seen celebrating after Uju Kennedy-Ohanenye was dismissed as Minister on Wednesday.

In a video posted on the social media platform X by APC chieftain Abubakar Sidiq Usman, employees were filmed dancing in the office corridors, chanting “finally” in response to the minister’s removal.

Kennedy-Ohanenye was among five ministers sacked during the Federal Executive Council meeting, including Lola Ade-John (Tourism), Jamila Bio Ibrahim (Youth Development), Tahir Mamman (Education), and Abdullahi Muhammad Gwarzo (Minister of State, Housing and Urban Development).

The development comes as President Tinubu’s administration continues to implement changes aimed at addressing the country’s challenges, with the latest being a reshuffling of his cabinet.

Wetin Bar. Kennedy Uju do these people wey dey jubilate over her sack? pic.twitter.com/J6cA8lGQZX

— Abubakar Sidiq Usman (@MrAbuSidiq) October 23, 2024
October 23, 2024 0 comments
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Headlines

BREAKING: Tinubu scraps Niger Delta, sports ministries

by Folarin Kehinde October 23, 2024
written by Folarin Kehinde

President Bola Tinubu and the Federal Executive Council have announced the scrapping of the Niger Delta Ministry and the Ministry of Sports Development.

According to a tweet by the Special Adviser on Information and Strategy to the President, Bayo Onanuga, on Wednesday, the decision was reached during the FEC meeting held in Abuja on Tuesday.

The statement read, “President Tinubu and Federal Executive Council scrap Niger Delta Ministry and the Ministry of sports development.

“There will now be a ministry of regional development to oversee all the regional development commissions, such as Niger Delta Development Commission, North West Development Commission, South West Development Commission , North East Development Commission.”

He also said the responsibilities previously held by the Ministry of Sports Development will now be transferred to the National Sports Commission, which will take charge of sports-related activities in Nigeria.

“The National Sports Commission will take over the role of the Ministry of Sports,” he stated.

Additionally, the FEC approved the merger of the Ministry of Tourism with the Ministry of Culture and Creative Economy, creating a single entity.

October 23, 2024 0 comments
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Headlines

Tinubu’s govt spending habits, threat to economic stability – World Bank

by Folarin Kehinde October 23, 2024
written by Folarin Kehinde

The World Bank has ranked the Nigerian government as weak in managing wasteful expenditures, raising concerns over financial transparency and accountability under President Bola Tinubu’s administration.

In its Nigeria Development Update, the global institution advised the government to reduce non-essential spending, such as the purchase of luxury vehicles and external training, to address the country’s economic challenges.

Despite widespread economic hardship, the Tinubu administration reportedly spent billions on luxury items, including N9.2 billion on State House vehicles over three months.

Additional spending included N250 million for First Lady event decorations within five days and another N14 billion for renovations, honorariums, and forex purchases.

The extravagant spending also included a new Presidential jet costing a staggering N150 billion.

The expenses have fueled public criticism, especially as Nigeria grapples with limited resources and mounting debt, with the country increasingly relying on loans to cover its budget deficit.

Concerns have been raised over the administration’s financial management, particularly as the nation faces high debt servicing costs.

Indermit Gill, the World Bank’s Senior Vice President, stressed the need for sustained economic reforms, suggesting that Nigeria must maintain these changes for another 10 to 15 years to see a transformative impact.

He made the remarks recently at the 30th Nigerian Economic Summit in Abuja.

October 23, 2024 0 comments
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