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Obasanjo Chides Tinubu On Subsidy Removal, Forex Policy, Handling Of Coup In Niger

Published

2 years ago

May 27, 2024

Editor

Former Olusegun Obasanjo has tackled President Bola Tinubu for poor handling of fuel subsidy removal, flotation of the naira and the military coup in Niger Republic.

He said though subsidy removal and the government’s forex policy were desirable, they were poorly handled by the government.

The former president observed at a colloquium,” Nigeria’s Development: Navigating the Way Out of the Current Economic Crisis and Insecurity” delivered at the Paul Aje Colloquium, tPAC, in Abuja weekend.

However, efforts made to get reactions from the President’s Media office were unsuccessful but a Presidency source simply said: “It is his personal opinion, he is entitled to that but we don’t want to reply to him.”

But Obasanjo also took a swipe at those against his position on the much-touted refurbished refinery in Port Harcourt, Rivers State, describing them as “sycophants and spin doctors”.

He declared that such people failed to remember that the attempt made in 2007 to partly privatise the refineries was made him, after a thorough study of the situation, hence his knowledge and better understanding of the situation before making his decision late last year.

On what could be described as his position on 365 days of President Bola Ahmed Tinubu’s administration, the former president also spoke on ways out of the situation in the country, including a 25-year development agenda.

He said: “Today, the government has taken three decisions, two of which are necessary but wrongly implemented and have led to impoverishment of the economy and Nigerians. These are the removal of subsidies, closing the gap between the black market and official rates of exchange and the third is dealing with the military coup in Niger Republic.

“The way forward is production and productivity which belief and trust in government leadership will engender. No shortcut to economic progress but hard work and sweat.”

‘Economy doesn’t obey orders’

“Economy does not obey orders, not even military orders. I know that. If we get it right, we will begin to see the light beyond the tunnel in two years. It requires a change of characteristics, attributes and attitudes by the leadership at all levels to gain the confidence and trust of investors who have alternatives.

“TotalEnergy has gone to invest $6 billion in Angola, instead of Nigeria. If the truth must be stated, the present administration has not found the right way to handle the economy to engender confidence and trust for investors to start trooping in.

“They know us more than we know ourselves. And now they are laughing at us, not taking us seriously. We have to present ourselves in such a way that we will be taken seriously. If existing investors are divesting and going out of our country, how do we persuade new investors to rush in?
‘’We can be serious if we choose to be, but we need to change from transactional leadership in government to transformational and genuine servant leadership.

“With change by us, the investors will give us the benefit of the doubt, and security is taken care of on a sustainable, long-term basis, they will start to test the waters. With the right economic policies, attribute of integrity and honesty of purpose, all should be well, with all hands on deck and the government become a catalyst for development, growth and progress.

“Tinkering with the exchange rate is not the answer. The answer is consistency and continuity in policy to ensure stability and predictability. That way, we will be sure to incentivize domestic and foreign investment.

‘’There must be honesty and transparency in government dealings and contracts and not lying with deception about these issues. When the government is seen as pursuing the right policy, the private sector will go for production and productivity.”

The former president’s reaction to the refinery issue is coming six months after the claim that the refinery would begin operation in January.

He noted that to get out of the current situation of the country, the government and the governed needed to look at the past and the present, and ask: How did we get here?.

Obasanjo said further: “Looking at the topic of today’s occasion, the question I would ask is, how do we navigate our way out of these crises and pave the path towards a more secure and prosperous Nigeria?

‘’I believe the answer to this requires a multi-faceted approach that addresses the root causes of these challenges. The central questions are: where were we? And how did we get to where we are today?

“Firstly, we must know where we are coming from. Our economy has consistently suffered from poor policies, lack of long-term, sustainable policies, discontinuity, ad hoc arrangement and corruption firmed on personal greed, avarice, incompetence, lack of knowledge and understanding and lack of patriotism.

“For instance, the statement and proposed actions given forty-five years ago to stop fuel scarcity is the same statement and action being touted today. I recall when I made the statement that the refineries will not work, the sycophants and spin doctors of this current administration went out to castigate me as not being a petroleum engineer and that I did not know what I was talking about.

“They forgot that the attempt that was made in 2007 to partly privatise the refineries was made by me after a thorough study of the situation. But the decision was reversed by my successor and the $750 million paid was refunded.”

On a way out, the former President said the country needed a 25-year socio-economic development agenda that would be generally agreed to by all political parties and passed into law by the National Assembly, with State Assembly aspects also passed into law by State Houses of Assembly.

‘’We take up the implementation on a five-year basis. In reality, that plan will have the effect of almost a Constitution. The first priority in the implementation will be education for all.

‘’The second should be food and nutrition security through agribusiness. The third should be energy for all. The fourth should be industrialization and manufacturing. And the fifth should be science, technology, innovation and Artificial Intelligence, AI.

‘’In all these, the government should provide a conducive environment for the private sector to operate and thrive. And where the government will be involved at all, other than as a policymaker and enabler, it should be based on private public partnership with the government as a junior partner.”

On the security, “we need stick and carrot approach. Stick to deal with those who cannot be weaned out of criminality and evil deeds and for those weaned, they should be rehabilitated. There should be no Nigerian without being in school compulsorily for eleven years – secondary education level.

“Employment must be a right for all Nigerians from age 18 years to 65 years. With such a carrot in position, the stick must then be made more severe for criminals. Five years must be set out to ensure that every Nigerian child who is not in school is in school and no one is left out of popular education.”

Adult education should be embarked upon to give every Nigerian basic education equivalent to six years of formal education. We should give ourselves ten years to rid Nigeria of illiteracy. No matter what we do, if we do not find a way of educating, giving skills and empowerment, over 20 million Nigerian children that are out of school today will end up being rich recruitment centres for drug addicts, Boko Haram, bandits and other social misfits.
VANGUARD

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FG Summons S. African Envoy Over Rising Xenophobic Attacks On Nigerians

Published

2 days ago

May 3, 2026

Editor

The Federal Government has summoned the Acting High Commissioner of South Africa in Abuja over renewed concerns about xenophobic attacks and protests targeting foreign nationals, including Nigerians, living in that country.

The Ministry of Foreign Affairs said the envoy is expected at its headquarters on Monday, May 4, 2026, for a high-level engagement aimed at addressing the growing tension and safeguarding bilateral relations between both countries.

In a statement issued on Sunday, the spokesperson for the Ministry, Kimiebi Ebienfa, said Nigeria would formally express its “profound concern” over recent developments in South Africa, particularly reports of harassment, violence, and destruction of property belonging to foreign nationals.

According to the ministry, the meeting will focus on ongoing demonstrations by various groups in South Africa and documented cases of attacks on Nigerians and their businesses in parts of the country.

“The objective of this engagement is to formally convey the Nigerian Government’s profound concern regarding recent events that have the potential to impact the established cordial relations between Nigeria and South Africa,” the statement read.

It added that discussions would also address ongoing demonstrations by various groups within South Africa and documented instances of mistreatment of Nigerian citizens and attacks on their businesses.

The ministry acknowledged growing anger among Nigerians over reports of xenophobic violence but urged restraint, stressing that diplomatic engagement remained the preferred channel for resolution.

It assured Nigerians that the Federal Government was actively engaging South African authorities to ensure the protection of its citizens abroad.

“The Ministry is aware of the growing discontent among Nigerians concerning the treatment of their nationals in South Africa. Nevertheless, it implores the Nigerian public to remain calm and reiterates the Federal Government’s commitment to protecting the rights and well-being of Nigerian citizens residing in South Africa,” the statement added.

The latest diplomatic move comes amid renewed reports of xenophobic tensions in parts of South Africa, where foreign-owned businesses have occasionally been targeted during protests linked to unemployment and economic hardship.

South Africa has a history of xenophobic violence dating back to 2008, with subsequent flare-ups in 2015 and 2019, when mobs attacked migrants, looted shops, and displaced thousands of foreign nationals across several provinces.

In past incidents, Nigerians and other African nationals were among those affected, prompting strong diplomatic reactions from Abuja and calls for stronger protection of foreign communities.

While South African authorities have repeatedly condemned such attacks and deployed security forces to restore order during outbreaks of violence, concerns have persisted over recurring hostility in some communities.

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Mississippi Man ‘Kills Mother, Flushes Her Remains Down Toilet’

Published

4 days ago

May 2, 2026

Editor

A 29-year-old Mississippi man, Zachary Lavel Jackson Jr., has been charged with multiple offences, including first-degree murder, over the death of his mother, Lana Brown Bradley, after deputies responded to her Natchez home on April 4 following a missing person report from relatives.

The Adams County Sheriff’s Office said deputies were called to Bradley’s residence after her oldest son was unable to reach her the previous day.

Jackson was initially identified as a family member before investigators confirmed he was her son.

Sheriff Travis Patten described the case as deeply disturbing.“This is by far the most heinous crime that I’ve ever witnessed in my entire life. We weren’t out there that day; this was one of those things when we walked up.

“This was one of those cases that you will never, ever forget in your life. This is the type of case that follows you home,” Patten told WJTV.

According to the sheriff, deputies noticed signs of a recent cleanup when they arrived at the home.

“As soon as they walked in the house, they could just see where somebody had been cleaning up, and they could smell chemicals all throughout the house.

“Floor was extremely slippery. And the older son said that this is just unusual for the youngest son to be cleaning up the house like that,” Patten explained.

Jackson, the youngest son, was found in a bathroom, where deputies allegedly made a discovery that became central to the investigation.

“I can say what was in the toilet, and it was her flesh. He chopped her up in pieces and dismembered her in a way that whoever came looking for her would have to do their due diligence to find her, and that’s just what we did,” the sheriff said.

Authorities said Jackson allegedly placed parts of his mother’s body in a suitcase and attempted to dispose of other remains.

Jackson faces charges of first-degree murder, second-degree murder, mayhem and tampering with evidence.

Headline

Iran Says War With US May Resume As Trump Rejects Proposal

Published

4 days ago

May 2, 2026

Editor

Iran’s military has warned that the war with the United States and Israel could resume, declaring that it is fully prepared for any renewed confrontation as tensions between the sides continue to deepen.

In a statement reported by Iranian state-affiliated media, senior military officials said a return to hostilities is “likely”, citing what they described as Washington’s lack of commitment to previous agreements and negotiations.

The warning comes after US President Donald Trump expressed dissatisfaction with Iran’s latest peace proposal, saying the terms presented by Tehran included demands he “can’t agree to”.

According to officials in Tehran, Iran believes it showed flexibility during earlier negotiations, including talks held in Islamabad and during the ceasefire period. However, authorities argue that the United States has instead taken a tougher stance, widening the gap between both sides.

Iranian officials insist that key issues such as sanctions relief and the status of the Strait of Hormuz must be resolved before any broader agreement, including discussions around its nuclear programme, can progress. They also reject what they describe as US demands amounting to “surrender”.

The growing diplomatic deadlock has raised fears that another round of fighting may be imminent, with Iranian authorities indicating that preparations are already underway.

Meanwhile, the prolonged conflict continues to have far-reaching consequences within Iran. Internet monitoring group NetBlocks reports that the country has entered its 64th day of near-total internet disruption, effectively isolating it from global online networks.

The shutdown, which began after renewed anti-government protests earlier in the year and intensified following the outbreak of the war, has significantly disrupted businesses and livelihoods across the country.

Beyond Iran, the conflict is also reshaping global dynamics. Rising oil prices linked to the war have placed pressure on international markets, while geopolitical tensions have strained alliances, including between the United States and European partners.

As both sides remain far apart on key issues, analysts warn that without a breakthrough in negotiations, the fragile pause in fighting could collapse, paving the way for renewed military escalation in the region.