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Why Tinubu’s One Year Rule Hasn’t Produced Fruits — Atiku

Published

1 year ago

May 28, 2024

Editor

The presidential candidate of the Peoples Democratic Party (PDP), in the 2023 general elections, Atiku Abubakar, has said President Ahmed Tinubu’s one year rule hasn’t produced tangible results because he unleashed reforms without an implementation plan.

Atiku said this in an article he made public on Tuesday.

He recalled that “On May 29, 2023, President Bola Tinubu raised the hopes of Nigerians with his pledge to ‘remodel our economy to bring about growth and development through job creation, food security and an end of extreme poverty.”

He explained that since making this pronouncement, Tinubu has also spoken about growing the economy at double-digit rates to US$1 trillion in six years, ending misery, and bringing immediate relief to Nigeria’s cost-of-living crisis.

According to the former Vice President noted that on listening to this, Nigerians must have breathed a sigh of relief after their experience with ex-President Buhari’s 8 years of economic misadventure.

He, however, said, “Tinubu laid out no plans for the ‘remodeling’ of the economy but soon embarked on a cocktail of policies to achieve it.

“In May 2023, he eliminated PMS subsidies, and a month later, the CBN implemented a new foreign exchange policy that unified the multiple official FX windows into a single official market.

“More policies followed in rapid succession: the tightening of monetary policy to reduce Naira liquidity, a hike in monetary policy rates, the introduction of cost-reflective electricity tariff, and a cybersecurity tax.

“Predictably, 12 months on, Tinubu’s pledge of growing the economy and ending misery remains unfulfilled.

“His actions or inactions have significantly worsened Nigeria’s macroeconomic stability. Nigeria remains a struggling economy and is more fragile today than it was a year ago.

“Indeed, all the economic ills – joblessness, poverty, and misery – which defined the Buhari-led administration have only exacerbated.

“Africa’s leading economy has slipped to the 4th position lagging behind Algeria, Egypt, and South Africa. Citizens’ hopes have been dashed (and not renewed contrary to the propaganda of the administration) as Nigeria’s economic woes have multiplied.”

Giving an analysis of how he thinks Nigeria got to this sorry state, Atiku said, “In my press statement on the state of our economy, earlier this year, I expressed my concerns about the downside risks of unleashing reforms without sequencing;

“…without any ideas on how to implement them; and without any regards to their potential and real devastating consequences. Implementing policies without proper planning and a clear destination is nothing other than trial-and-error economics.

“My concerns have not diminished. I will focus on just four areas to underscore those downside risks associated with Tinubu’s reform measures and their dire consequences on Nigeria’s medium to long-term growth and development.

“First, President Tinubu’s policies do not create prosperity. Instead, they pauperize the poor and bankrupt the rich.

“They spare no one. Nigerian citizens, the majority of whom are poor, are going through the worst cost-of-living crisis since the infamous structural adjustment programme of the 1980s.

“The annual inflation rate at 33.69% is the highest in nearly 3 decades. Food prices are unbearably higher than what ordinary citizens can afford as food inflation soared to 40.53% in April, the highest in more than 15 years.”

He further said, “Nigerian citizens have to pay 114% more for a bag of rice, 107% more for a bag of flour, and 150% more in transport fares relative to May 2023. Today, in some locations, motorists are paying 305% more for a litre of fuel.

“Yet, on a minimum wage of the equivalent of US$23 per month, Nigerian workers are among the lowest wage earners in the world. Tinubu had the ‘courage’ to remove subsidy on PMS;

“…and impose additional taxes on his people but lacks the compassion to raise the minimum wage or implement a social investment programme that would reduce the levels of vulnerability, and deprivation of workers and their families.

“Second, President Tinubu’s policies create a hostile environment for businesses, big or small. The private sector is overwhelmed by Tinubu’s dismal policies and overburdened by his failure to address the policy fallouts.

“The manufacturing sector, which holds the key to higher incomes, jobs, and economic growth, has been bogged down by rising input prices, higher energy and borrowing costs, and exchange rate complexities.

“For example, since 2023, the average price of diesel has doubled to N1,600 per litre. Electricity tariff has recently been increased by 250% from N68/Kwh to N206/Kwh.

“As reported by the Guardian (13 May 2024), in Q1 of 2024, energy prices were up by 70%, costing manufacturers N290 billion.

“Since May 2023, corporate Nigeria has lost more than a dozen enterprises to other countries. Unilever, GlaxoSmithKline (GSK), Procter & Gamble (P&G), Sanofi-Aventi Nigeria, Bolt Food, Equinor, among others had exited Nigeria citing reasons including foreign exchange complexities, security concerns, and high operational costs.

“According to the Nigeria Employers’ Consultative Association (NECA), nearly 20,000 jobs may have been lost due to the departure of 15 multinational companies from Nigeria.

“Those enterprises that remain are struggling to survive. Vanguard Newspaper (20 May, 2024) reported a significant rise – to nearly 30% – in unsold goods in the warehouses of manufacturers of fast-moving consumer goods, occasioned by the rising cost of living and declining purchasing power of the citizens.

“According to the Guardian, manufacturers reported in Q1 a 10% drop in capacity utilization, a 10% drop in production, a 5% drop in investment, and more than 7% drop in sales.

“The Daily Trust (1 May, 2024) quoted Dangote lamenting that nearly 97% of manufacturing concerns in Nigeria will be unable to pay dividends this year.

“In an economy with high rates of unemployment, a declining manufacturing sector cannot be an option.

“Third, President Tinubu’s foreign exchange policies have not had any positive impact on Nigeria’s foreign trade balance, contrary to policy expectations.

“In particular, the free-float and the resulting devaluation of the Naira has not resulted in an appreciable improvement in Nigeria’s trade balance.

“Devaluation has not enhanced the competitiveness of local producers and has had no positive impact on exports of goods, primary or manufactured. In Q4 of 2023, for example, while imports surged 163.1%, exports rose at a slower 99.6%, indicating a huge foreign trade deficit.

“Similarly, in Q1 of 2024, Nigeria recorded a trade deficit of $7.5 billion, with exports value of $12.7 billion and import value of US$14 billion. Overall, the trade deficit as a percentage of GDP increased by 0.83% from 0.05% in May 2023 to 0.88% in May 2024.

“Fourth, President Tinubu’s policies have failed to attract foreign investments into the country despite all the posturing and media hype by the President’s men.

“Exchange rate unification and free float of the Naira have not led to higher capital inflows (whether Foreign Direct Investment or Foreign Portfolio Investments), again contrary to policy expectations.

“ Indeed, FDI inflows declined by 26.8%, from US5.33 billion in May 2023 to US$3.9 billion in May 2024. It is not difficult to understand why: FDI is about TRUST.

“It is about the investing world trusting the leadership of a country to act and deliver on promises made. Investors come when the right policies are designed and delivered timely and efficiently by public institutions.”

News

Oba Of Benin Suspends Palace Chiefs

Published

2 hours ago

August 28, 2025

Editor

The Oba of Benin, Ewuare II, has suspended two of his chiefs for falling for dereliction of duties.

This was contained in a statement signed by the Secretary to the Benin Traditional Council (BTC), Frank Irabor and made available to journalists in Benin City.

He said their suspension was as a result of their long absence from the palace, resulting in their failure to carry out their palace responsibilities.

The suspended persons are: Chief John Igiehon, the Izuwako of Benin and chief Aimiukpomonyako Oghogho (Ebengho), the Oyenmwensoba of Benin.

“The under-mentioned two (2) chiefs have been suspended from the Palace of the Oba of Benin.

“This is as a result of their long absence from the Palace, resulting in their failure to carry out their Palace responsibilities.

“The public is advised to be wary of unscrupulous chiefs that are no longer functioning in the Palace. His Royal Majesty has approved their _ Suspension and directed the public be duly informed.

“The names of the chiefs are: – ; 1. CHIEF JOHN IGIEHON, THE IZUWAKO OF BENIN and, _ 2 CHIEF AIMIUKPOMONYAKO OGHOGHO (EBENGHO), THE OYENMWENSOBA OF BENIN”, the statement said.

News

Lawyers Fault EFCC Statement, Say It’s Misleading

Published

3 hours ago

August 28, 2025

Editor

Some legal practitioners in Bauchi state have faulted the Economic and Financial Crimes Commission (EFCC) official statement about their client on Wednesday, adding that it was erroneous, false and misleading.

It could be recalled that EFCC posted on its official Facebook handle that a Bauchi State High Court has cleared the commission to proceed with its investigation of a former Chairman of the Peoples Democratic Party in Bauchi State, Hamza Koshe, and his company, Pentech Engineering Nigeria Ltd.

According to the EFCC statement, the commission said Justice Aliyu Baba, in a judgment delivered on July 30, 2025, dismissed an application by Koshe seeking to restrain the EFCC and the Independent Corrupt Practices and Other Related Offences Commission from probing him.

However, in a statement jointly signed and made available to newsmen in Bauchi on Thursday by Jibrin S. Jibrin Esq, M.M. Usman Esq, H.B. Pali Esq, Abbas Ibrahim Esq, I.G. Agwam Esq and Salome Audu Esq all counsel to Pentech Engineering Nigeria Ltd & Anor as well as Koshe insisted that the statement was misleading.

According to them, the EFCC owed the public the duty of relating only the truth of what the courts decided as regards the contract financing agreement in the issues their clients were parties.

“Our attention as the legal representatives of Pentech Engineering Nigeria Ltd & Alhaji Hamza Koshe in respect of suit No. BA/271/2024 has been drawn to the statement posted on the official page of the EFCC on Wednesday, where the Commission supposedly rendered an analysis of the judgement delivered by the High Court of Justice No. 4 Bauchi Presided by Justice Aliyu Usman on the 30th July 2025.

“Now against the background of the erroneous, false and misleading publication by the EFCC on the matter, we deem it necessary to set the records straight by stating what actually is the truth of the matter in terms of the enrolled judgment Order of the Court to which this press release is attached.

“It is proper to state as a fact that in an earlier judgement relating to the subject of this release, the verdict of the High Court of Justice No. 10 Bauchi presided by Justice M. M. Abubakar delivered on the 19th December, 2024 is to the effect that the Contract Financing Agreement the subject matter of the suit having been found to be valid and not contravening any law remains enforceable hence, Pentech Engineering Nigeria Ltd is accorded the applicable injunctive reliefs as regards the activities of the Commission.

“We state as a fact that the main question of law determined in Justice Aliyu Baba Usman’s judgment is to the effect that the Contract Financing Agreement the subject of the suit is valid.

“The EFCC failed to state in its statement in reference the fact that many parties and contractors concerned or involved in the Contract Financing Agreement in the issue have been invited by the Commission with virtually all of them responding, honoring its invitation on the matter and thereby discharging their legal obligation speak volumes of ‘the bidding of some’ which the publication seeks to achieve ab initio,” said the lawyers.

The counsel added that the mischief and deliberate misrepresentation in EFCC’s statement could be seen when not only did it make no mention of this fact but also created the impression that their clients went to Court to evade investigation on the matter.

They said that Koshe was a guest of the Commission having honored its invitation in September 2024 which he was released on administrative bail, the terms and conditions applicable to which he has been observing.

“It is also important to clarify as a fact that there is no truth at all in the Commission’s statement to the effect that our client sought a perpetual injunction of general nature against the Commission’s activities.

“The truth about the reliefs sought by our clients is as contained in the Court’s processes filed in the suit in reference.

“We challenge the Commission to provide evidence of where our client ever sought a perpetual injunction at large or of general nature against it or any other body duly established by law.

“We urge members of the public to disregard in its entirety EFCC’s statement on the subject and be guided in its stead by the facts as contained in the relevant court processes to which this release is attached,” he said.

News

Tricycle Riders Sentenced To Five Years Over WhatsApp Group Mobilising Protest Against Nigerian Gov

Published

4 hours ago

August 28, 2025

Editor

Borno State Governor Babagana Umara Zulum has been accused of being power-drunk following allegations that he ordered the arrest and conviction of two members of the ruling All Progressives Congress (APC) and tricycle operators for creating a WhatsApp group to mobilize a protest against his administration.

Crack police operatives carried out the arrests in Maiduguri before the scheduled End Bad Governance protest.

The two men, identified as Mohammed Bukar (alias Awana) and Ibrahim Mohammed (alias Babayo), were convicted on June 30, 2025, by Hon. Justice A.M. Ali and handed a five-year prison sentence.

Court documents with reference number BOHC/MG/CR/2150/CT10/2024 revealed that the men were accused of creating a WhatsApp group called “Zanga Zanga Group”—translated as Protest Group—to mobilize Keke Napep (tricycle) operators for a planned demonstration against the Borno State Government.

Mohammed Bukar and Ibrahim Mohammed were the 6th and 7th defendants in the case in which Governor Zulum accused them of using videos on the WhatsApp group to instigate Keke Napep (tricycle) operators in Borno State to join the protest against the government.

They were also accused of producing videos in Kanuri and Hausa languages, urging tricycle riders to come out en masse, declaring “no going back” on the planned protest against the Borno State Government.

On June 30, 2025, Hon. Justice A.M. Ali sentenced the duo to five years’ imprisonment for allegedly planning the protest on WhatsApp.

Meanwhile, the seven defendants were charged with two counts: Count 1. That the defendants conspired to form a group named Zanga Zanga group (or protest group) on WhatsApp social media platform wherein they agreed to take up arms, to wit; guns, knives, bows and arrows and all forms of dangerous weapon against the Government thereby committing an offence contrary to Sections 60 and punishable under Section 79 of the Penal Code Laws of Borno State 2023.

Count 2. That the defendants formed a group named Zanga Zanga group (or. protest group) on WhatsApp social media platform and agreed to take up arms, to wit; guns, knives, bows and arrows and all forms of dangerous weapon against the Government thereby committing an offence punishable under Section 79 of the Penal Code Laws of Borno State 2023 All the defendants pleaded not guilty to the charges brought against them at their arraignment on April 11, 2024. The prosecution called four witnesses to prove their case.

However, all defendants pleaded not guilty when arraigned on April 11, 2024.

The prosecution called four witnesses, including Sgt. Isa Abubakar, an investigating police officer attached to the Crime Squad of the Nigerian Police, Borno State Command.

Sgt. Abubakar testified that on July 21, 2024, the 6th defendant used one of the videos as his WhatsApp status to mobilize tricycle riders for the End Bad Governance protest.

He added that the 6th and 7th defendants also made another video in Hausa, saying, “Allah Yaisa Zulum two Billion Namu,” roughly translating to “May God punish Zulum for our two billion.”

He further testified that he downloaded the videos and arrested the two suspects on July 23, 2024, before handing them over to the Crime Squad office in Maiduguri.

Justice Ali said, “I have considered the pleas for leniency made by each of the convicts and the pleas made on their behalf by their counsel. The 5th convict is 17 years old, the 2nd convict is 14 years old, and the 3rd convict is 15 years old.

“The 5th, 2nd, and 3rd convicts are therefore young persons within the meaning of the Children and Young Persons Law of Borno State.

“It was held by the Apex court in the case of Aminu Tanko VS the State 2009 Legalpedia SC 61216 that where the sentence prescribed upon conviction in criminal charge is term of imprisonment then some extenuating factors, such as the age of the convict and whether he is a first offender can be taken into consideration in passing the sentence.

“It is in this regard that, on the 1st count charge, I sentence the 5th, 2nd, and 3rd defendants to community service specifically washing the toilets of General Hospital Maiduguri, for 3 months. Make an order that they be given 20 strokes of the cane each.

“On the 2nd count charge, the 5th, 2nd, and 3rd convicts are sentenced to 6 months’ imprisonment. The 2nd and 3rd convicts are to be held at the children’s remand home, while the 5th defendant is to be remanded at the Maiduguri correctional centre. The period of imprisonment should commence today.”

“Regarding the first convict, who is also a young man, he is hereby sentenced to 5 years’ imprisonment. The first convict is sentenced to 5 years’ imprisonment. The 6th convict is sentenced to 5 years’ imprisonment. The 7th convict is sentenced to 5 years’ imprisonment. All sentences should commence today, the 30/6/2025,” Justice Ali added.

Earlier, SaharaReporters reported that the families of two commercial tricycle operators had accused the state government, led by Governor Babagana Zulum, of ordering their arrest and prolonged detention after they allegedly planned a peaceful protest over the alleged mismanagement of funds contributed by riders.

The detained operators, identified as Muhammed Bukar and Ibrahim Muhammed—both members of the ruling All Progressives Congress (APC)—were arrested by the Police Crack Squad on the alleged orders of Borno State Commissioner for Youth and Sports Development, Saina Buba.

According to relatives, the riders were detained for three months and two weeks at a police facility before spending an additional two months in prison custody while facing trial.

At the centre of the dispute is a daily N100 ticket fee collected from tricycle operators, supposedly serving as insurance to provide financial support to any operator facing emergencies.

However, the riders alleged that officials managing the fund embezzled the money and failed to assist operators in need, prompting plans for the protest before their arrest.