ON January 11, 2012, Bola Ahmed Tinubu published a sober, thoughtful, deeply insightful, and penetratingly foresightful article titled “Removal of Oil Subsidy: President Jonathan Breaks Social Contract With the People” that uncannily prefigured the untoward consequences of petrol subsidy removal that Nigerians are currently grappling with. The article has trended on social media in the last couple of weeks, but I had never taken the trouble to read it until multiple people who I regard highly sent it to me in what seemed like a coordinated torrent of forwards. But after reading the 4,000-plus-word article and finding out that it…
Author: Editor-in-chief
Makinde And The Leopard’s Spots. The Leopard will never change its spots. The Leopard is an animal, one of the big cats. It is a ferocious, yet very beautiful animal with black skin dotted with white spots. The Leopard carries its white spots from infant till old age. The Leopard spots never changes, neither does it fade. Usually, when a man is known with a particular attitude, he is often referred to as a Leopard which never changes its spots any time he exhibit the attitude he’s fond of. Like the Leopard which will never change its spots, Governor Seyi…
The value of the Naira continued its free fall on Thursday as it depreciated to N1,610 to a United States Dollar (USD) at the parallel market whilst it appreciated at the Nigeria Autonomous Foreing Exchange (NAFEX) window. At the close of business on Thursday, the value of the Naira which had dipped to N1,515.28 to the Dollar at the NAFEX window, had appreciated to N1,498.25. The value of the local currency had dipped on Wednesday despite a $117.87million inflow into the market. At the parallel market, the value of the Naira continued to dip with transactions consummated between N1,610 and…
President Bola Tinubu has approved the appointment of his son-in-law, Oyetunde Oladimeji Ojo, as the new Managing Director/CEO of Federal Housing Authority (FHA). Ojo, who was a member of the House of Representatives, is married to President Tinubu’s eldest daughter, Mrs. Folashade Tinubu-Ojo. Special Adviser to the President on Media and Publicity Ajuri Ngelale, on Thursday, announced the appointment of Ojo and other executive management teams of parastatals under the Federal Ministry of Housing and Urban Development. According to the statement, Mr. Shehu Usman Osidi was appointed Managing Director /CEO of the Federal Mortgage Bank of Nigeria (FMBN). Three Executive…
The Oyo state House of Assembly secretly approved the request of Governor Makinde to further borrow the sum of 150b Naira. The process of the said approval was shrouded in complete mystery. Interestingly, Governor Makinde purchased a private Jet not long after the mystery approval of the 150b Naira loan. What reasonable inference will descerninh minds draw from the scenario above? The issue of Governor Makinde buying a private Jet when the people of Oyo state are suffering from hunger and deprivation is one story. If it is certain that the Governor made the purchase from his personal purse, there…
At a recent public event where he represented his principal, Chief of Staff to the president, Femi Gbajabiamila, used the opportunity to retrieve the hackneyed topic of social media regulations. While he noted the bid failed while he was the Speaker of the House of Representatives, he did not indicate that any new development had since emerged since Nigerians spiritedly resisted the Bill, which had given him a better perspective. So why bring up the topic again? He must have lacked useful things to say. In sensationally describing social media as a “social menace,” Gbajabiamila gave himself away as the…
Misery of Nigerian importers have continued to worsen as the Central Bank of Nigeria (CBN), on Wednesday, readjusted the Customs exchange rate from N1444.56/$1 to N1,481.482/$1. According to information gathered, the exchange rate was reviewed upward by N36.922 that is, 2.56 per cent against the last increment, in the early hours of Wednesday, 14th February, 2024. Also, the adjustment will be the 5th in 12 days and 9th since the beginning of the administration of President Bola Tinubu in May 2023. Marítime experts have, however, argued that with the upward review, Nigerians will pay more to clear their goods at…
The National Chairman of All Progressives Congress, Dr Abdullahi Ganduje, has charged Nigerians to look beyond the criticisms that have trailed the reforms of President Bola Tinubu, saying they were orchestrated to distract the people. He spoke against the backdrop of growing public outcry over the rising cost of living in the country occasioned by the removal of subsidy and floating of the naira by the Tinubu government. Ganduje made the appeal when he received a delegation of North Central leaders led by former Senate President, Senator Ameh Ebute, a former legislator from Benue State, Senator Jack Tilley-Gyado, and Plateau…
The naira yesterday depreciated to N1,565 per dollar in the parallel market from N1,510 per dollar on Tuesday. Similarly, the naira yesterday depreciated to N1,503.38 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,503.38 per dollar from N1,499.07 per dollar on Tuesday, indicating N4.31 depreciation for the naira. As a result, the gap between the official and parallel market exchange rates widened to N61.65 per dollar yesterday from N10.93 per dollar on Tuesday
The Sultan of Sokoto, Muhammad Sa’ad Abubakar-led Northern Traditional Council, has warned that rising poverty, hunger and insecurity in the country will force people to revolt against President Bola Tinubu’s government very soon. It is getting to a level that traditional leaders could no longer pacify the people from revolting against government and political leaders that are supposed to find solutions to their lingering socio-economic plight,” Mr Sa’ad said. We have reached that level, people are very agitated, people are hungry, they are angry, but they still believe there are people who can talk to them, they believe in some…