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Tinubu Working To Move Nigerians Out Of Poverty – Finance Minister

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The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun has said that President Bola Tinubu is charting a way to move a lot of Nigerians out of poverty.

He stated this in Bauchi on Monday, during the opening ceremony of the 2024 National Council on Finance and Economic Development (NACOFED)’s conference.

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According to him, the president is leaving no stone unturned in order to ensure that life is made easy for Nigerians by coming up with policies and programmes that would be beneficial to all.

“President Tinubu’s administration inherited assets and liabilities and there was no looking back but it’s a question of charting a way of looking forward and making plans in order to first of all stabilise the economy.

READ ALSO: S ’Africa, Seven Countries Queue To Lift Dangote Refinery Fuel

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“He is working hard to get investments through private sector investors both domestically and foreign direct investors to increase the productivity of Nigeria, grow the economy, create jobs and of course move a large number of people out of poverty.

“When you try to look at where we are now, essentially, the major macro economic reforms are in place.

“He has stopped the bleeding that was costing five per cent of the GDP of the country every year that was adding no value except to a few people and neighbouring countries that were benefiting from what was happening with the fuel subsidy and as well, a related foreign exchange subsidy.

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“The benefits were saved for just a few and a mass of Nigerians were not getting any benefits from those structures.

READ ALSO: How My Friend Ruined My Marriage – Actress Ronke Odusanya

“They have been removed and the federation account will benefit from increased flow of resources to the federal, states and local governments and so much more can be done in terms of investing not just in infrastructure but in social services like education and health,” he said.

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The Minister assured that the road is clear for private sector investors and that the country is back in the business on the road to industrialisation based on what is happening in the petroleum refining sector.

He said that crude oil is not just being shipped abroad but it’s being refined locally to give petroleum products and raw materials for industry.

He called on all Nigerians to be encouraged that the country now has a more stable, sustainable macro economic environment that is friendly to investors.

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READ ALSO: Three Rivers Policewomen Arrested For Extortion

This, he said, would make it possible not only for them to produce competitively for the domestic market but also to export.

He appreciated all the organisers of the conference for all the efforts put in place to make the consequence a reality and also thanked Gov. Bala Mohammed for his hospitality and warm welcome to all the delegates that turned up the conference.

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Also, the Bauchi state governor said that hosting the event is a privilege and has proven the importance of collaboration in addressing the economic challenges and opportunities before the country.

READ ALSO: Court Fixes Date To Hear Alleged Misappropriation Case Against Ganduje

He assured that the government spared no efforts to ensure that the event surpasses expectations.

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“Your presence is a testament to your commitment to advancing Nigeria’s financial and economic landscape.

“I urge all the participants to contribute constructively to the benefit of all Nigerians,” he advised.

The theme of the conference is: Fostering Economic Growth in Challenging Times: Strategies for Policies and Partnership for Fiscal Sustainability & National Development.

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FG Predicts Heavy Rainfall, Flood In Seven States

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The Federal Ministry of Environment on Saturday predicted possible flooding in seven states and 25 locations across Nigeria.

The ministry, in its flood alert warned that heavy rainfall expected between August 23 and 24 could lead to flooding in the listed areas.

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The alert was signed by the Director of the Erosion, Flood and Coastal Zone Management Department, Usman Bokani.

He further directed residents of communities along the flood plain from Jebba to Lokoja to evacuate immediately as the River Niger’s water level continues to rise.

READ ALSO:NiMet Predicts 3-day Thunderstorms, Rains

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Due to the rise in the water level of River Niger, communities on the flood plain from Jebba to Lokoja are advised to evacuate,” he said.

The states and communities expected to be affected include Benue State (Abinsi, Agyo, Gbajimba, Gogo, Makurdi, Mbapa, Otobi, Otukpo, Udoma, Ukpiam); Borno State (Briyel, Dikwa, MaiduKamba; Gombe State (Bajoga, Dogon Ruwa, Gombe, Nafada); Kebbi State (Gwandu, Jega, Kamba); Nasarawa State (Agima, Keana, Keffi, Odogbo, Rukubi); Niger State (Lapai); and Yobe State (Gashua, Gasma, Potiskum).

On Friday, the National Emergency Management Agency urged residents in high-risk flood plains to evacuate to safer and higher grounds.

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READ ALSO:Again, NiMet Predicts Three-day Thunderstorms, Rain From Saturday

The states at high risk according to the agency are Kebbi, Niger, Kwara states that share borders with Benin Republic.

This was disclosed in a press statement signed by the agency’s Head of Press Unit, Manzo Ezekiel.

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The Director General of NEMA, Mrs. Zubaida Umar, also directed all NEMA offices covering communities along the River Niger to intensify advocacy and mobilization for flood preparedness following alerts of rising water levels in the upstream of the river in the Republic of Benin.

READ ALSO:NiMet Predicts 3-day Rains, Thunderstorms Across Nigeria From Sunday

In an urgent directive conveyed to the operations offices, Mrs. Zubaida Umar instructed them to sensitize communities to remain vigilant and advise residents in high-risk flood plains to evacuate to safer, higher grounds, especially those in Kebbi, Niger and Kwara states that share borders with Benin Republic.

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“She further urged the State Governments of the identified high-risk areas to support their Emergency Management Agencies (SEMAs) and Local Emergency Management Committees (LEMCs) in activating contingency plans and preparedness measures to mitigate the potential impact of this year’s flooding.

“The Director General reaffirmed NEMA’s commitment to ensuring coordinated actions to safeguard lives and livelihoods along the River Niger,” the statement noted.

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‘Court Of Corruption’ — Obasanjo Knocks INEC Chairman, Judiciary In New Book

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Former President Olusegun Obasanjo has criticised the Nigerian judiciary, saying it has been “deeply compromised” and that corruption among judges has turned courts into “a court of corruption rather than a court of justice.”

In his new book, Nigeria: Past and Future, Obasanjo laments the steady decline of the Nigerian judiciary’s integrity, warning that justice has become commodified in Nigeria.

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“The reputation of the Nigerian judiciary has steadily gone down from the four eras up till today. The rapidity of the precipitous fall, particularly in the Fourth Republic, is lamentable,” Obasanjo wrote.

He expressed concern that the judiciary’s decline poses a significant threat to the nation’s stability.

READ ALSO:EFCC Raids Obasanjo’s Hotel, Arrests Suspected Internet Fraudsters At Pool Party

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Obasanjo recounted an incident where a governor showed him six duplex buildings belonging to a judge who allegedly acquired them from money made as chairman of election tribunals. This anecdote, he said, illustrates the depth of corruption in the judiciary.

The former president also accused Mahmood Yakubu, INEC chairman, of undermining the electoral process since 2015.

“No wonder politicians do not put much confidence in an election which the INEC of Professor Mahmood Yakubu polluted and grossly undermined to make a charade,” he said.

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Obasanjo further alleged that politicians believe the outcome of election disputes depends on the will of tribunal judges, court of appeal judges, and supreme court judges.

READ ALSO:Obasanjo Blames Loss Of Values For Democracy’s Failure In Africa

No matter what the will of the people may be, the Chairman of INEC since after the 2015 election had made his will greater and more important than the will of the people,” he added.

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Moreover, Obasanjo directly accused the late former President Muhammadu Buhari of colluding with the judiciary during his election cases.

Buhari threw caution to the wind, no matter what had transpired between him and the judges who did his bidding. In his election cases, financially, he topped it up with appointments for them no matter their age and their ranks,” Obasanjo alleged.

The former president concluded that the current state of the judiciary and electoral system in Nigeria is alarming, saying, “After a false declaration of results, making losers winners and winners losers, the victim of the cheating is advised to go to court, which is a court of corruption rather than a court of justice.“

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Sanwo-Olu Unveils Leather Hub, Eyes 10,000 Jobs

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Lagos State Governor, Sanwo-Olu, on Saturday inaugurated a state-of-the-art leather processing and manufacturing hub in Mushin, projected to create 10,000 direct jobs and generate over $250 million in annual export turnover when fully operational.

In a press release sent to PUNCH Online, the governor said the facility was formally inaugurated on Saturday by the First Lady, Senator Oluremi Tinubu, during her three-day official visit to Lagos.

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He added that the hub was named in her honour to recognise her grassroots initiatives in social investment and economic empowerment, with 70 per cent of its employment slots reserved for women and youths.

The hub is equipped with modern machinery to support Nano, Micro, Small, and Medium Enterprises (NMSMEs), enabling mass production of shoes, bags, belts, packaging materials, and other leather products.

READ ALSO:I Will Snub Gov Sanwo-Olu Again – Mr Macaroni

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It is designed to ease production bottlenecks, scale operations, and position Lagos as the leather logistics capital of West Africa.

Speaking at the inauguration, Tinubu described the hub as a “trailblazing project” aligned with President Bola Tinubu’s Renewed Hope Agenda to diversify Nigeria’s economy through industrialisation, manufacturing, and innovation.

The Lagos State Leather Hub in Mushin, formally commissioned by the First Lady of Nigeria, Senator Oluremi Tinubu, on Saturday, 23 August 2025.
Leatherwork is a traditional craft that has stood the test of time. This facility will empower artisans, scale up leather goods production, and enable them to compete confidently in both local and international markets,” she said, urging entrepreneurs to dedicate themselves to excellence and continuous learning.

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Sanwo-Olu said the project would provide training and start-up support to over 150,000 artisans, boost the local economy, attract investments, and strengthen trade links with fashion districts, e-commerce platforms, and future rail services.

READ ALSO:Sanwo-Olu Unveils Bus Terminal, Slashes Red Line Fares By 30%

“Hides and skins that once left our shores unprocessed will now be transformed here in Lagos into world-class footwear, garments, and accessories proudly stamped ‘Made in Lagos, Made in Nigeria’,” the governor said.

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He pledged to expand the facility through transparent regulation and continuous infrastructure upgrades, adding: “True dividends of democracy are best felt when they reach the cobbler in Mushin, the tanner in Oko-Oba, and the young fashion designer in Yaba.”

Commissioner for Wealth Creation and Employment, Akinyemi Ajigbotafe, said the hub would lower production costs and raise quality standards, positioning Lagos-made leather products for dominance in both local and export markets.

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