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Buhari Thanks Ministers, State House Staff For Support, Loyalty

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N2.343trn new borrowing request captured in 2021 budget – DMO

Fails to dissolve Cabinet; Seeks Senate Approval For Payment Of N226bn, $556.8m, £98.5m

President Muhammadu Buhari on Wednesday in Abuja participated in a valedictory session of the Federal Executive Council (FEC) and met with staff of the State House.

He however failed to dissolve his cabinet, a development which the Minister of Information, Alhaji Lai Mohammed later explained as an endorsement for Ministers to work till May 29, 2023.

The president’s engagement was part of a countdown on his eight years of administration, expressing appreciation for all the support and loyalty of the cabinet members and the staff.

In his remark at the valedictory session held at the State House Council Chamber, Buhari thanked all the ministers for their steadfastness in pursuing the goals of the administration.

The president however urged support for the incoming President, Sen. Bola Tinubu, even from outside government.

Buhari appreciated the ministers for working closely together, despite many odds and challenges, and sustaining the synergy that translated into many achievements.

“I am proud to say we gave our best,’’ he added.

The president directed the ministers to tidy up their work and avoid last-minute rush that could compromise the good deeds they had done over the years.

“In the cause of our years together, ranging from our newest addition to the oldest members of the team for the past seven and half years, we have differed on many issues.

”I urge that we understand that those positions were for the collective good, and no one should keep grievances, or carry these differences forward.

“For those of us that will not directly be in government, I know that I am one of such, I ask that we continue to provide our support, in whatever way we can, if called upon by our great party, All Progressives Congress (APC), that gave us the platform to stand and we must continue to support it in every way we can,’’ he said.

The president attributed all the good work and goodwill received by the administration to God’s intervention, adding: “I also thank God for the strength and for keeping us together.’’

“I look forward to a  great many of you, disproving that Daura has not become too distant because I am no longer Mr President.

Buhari appoints Simbine as NISER’s 1st female D-G

President Muhammad Buhari

“I will also be happy to do the many things that I have not been able to since May 29, 2015, one of such is my favourite pastime of taking care of my cattle.

“I wish all of us the best and hope to hear good news whenever any of our names are mentioned. Thank you and God bless the Federal Republic of Nigeria,’’ he stated.

Buhari also met with members of Staff of the State House, lauding both the senior and junior workers for supporting his administration for eight years.

He noted that the administration had stretched to accommodate the views of workers and to meet some of their needs within available resources.

in another development, President Muhammadu Buhari has sought the approval Senate to issue a promissory note for the payment of 566,754,584.31 dollars, 98,526,012.00 Pounds and N226,281,801,881.64 judgment debt owed by the Federal Government.

Buhari’s request was contained in a letter addressed to the President of Senate Ahmed, Lawan and read at plenary on Wednesday.

Buhari in the letter said: “Distinguished Senate President, you may wish to be informed that the Federal Executive Council (FEC) at its meeting of March 29, 2023, approved the liquidations of top priority judgment debts and general debts owed by Ministries, Departments, and Agencies (MDAs) through the issuance of promissory notes.“The judgment debts are to be settled through the issuance of promissory notes which will then be redeemed over time through provisions in the budgets of the Federal Government of Nigeria.

”Thus debt securities have been issued for the settlement of the judgment debts and approval of the National Assembly is required for this purpose.“In view of the foregoing, I wish to request the Senate to kindly consider and approve through its resolution the settlement of the top priority debts incurred by Federal MDAs in the sum of 566,754,584.31 dollars, 98,526,012.00 Pounds and N226,281,801,881.64 through the issuance of promissory notes.

“The Honourable Attorney-General of the Federation and Minister of Justice and the Honourable Minister of Finance, Budget and National Planning shall provide any information that may be required by the Senate for the consideration of this request.

”Senate also at plenary passed for first reading five bills. The bills include Federal Medical Centres Act Amendment Bill 2023 sponsored by Sen.Gobir Ibrahim (APC- Sokoto), Federal Teaching Hospital, Markurdi, Benue State Establishment Bill,2023 by Sen.Gobir Ibrahim (APC- Sokoto),

Others are the Central Bank of Nigeria(CBN) Act Amendment Bill,2023 by Sen.Gobir Ibrahim (APC- Sokoto),and Federal University of Petroleum Technology, Ohaji -Egbema Establishment Bill,2023 by Sen.Rochas Okorocha.

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Education

Children’s Day: London Academy Business School Celebrates Nigerian Children

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...Reiterates commitment to provide high-quality education to Nigerian Child***
Dr. Larry, the Director of London Academy Business School (LABS), joined other Nigerian leaders from other industries to celebrate children on children's Day. In his words, Dr. Larry stated that children remind us of the future.
While speaking to reporters, he emphasized the aura of love that children create in the homes and throughout society, Also that "the joy and happiness from children are amazing, sufficient enough to drive energy for nation building."

Dr. Larry also advocated for effective child protection policies and implementation, urging all critical stakeholders, including parents, teachers, and the government, to protect and celebrate children.
  To ensure that high-quality education is available to children in Nigeria, London Academy Business School has established a Lagos Study Centre with state of the art facility and modern technology with plans to expand across all cities in Nigeria.

Dr. Jones-Esan, who has big plans to change the face of education in Nigeria, has also urged the government and private stakeholders to work with him and his team of professionals to change the face of education in Nigeria. He claims that many children have big potentials but can't realise them because they're not in school.
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Tinubu To Adopt Price Control Mechanism For Agro Products

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… Vows to Defend Nigeria From Terror, Criminality – Tinubu***

President Bola Tinubu says he will take steps to ensure price control for agricultural products.

Tinubu said this in his inaugural address on Monday in Abuja.

According to him, rural income shall be secured by commodity exchange boards guaranteeing minimal prices for certain crops and animal products.

He said that agricultural hubs would be created throughout the nation to increase production and engage in value-added processes.

“The livestock sector will be introduced to best modern practices and steps taken to minimise the perennial conflict over land and water resources in the sector.

“Through these actions, food shall be made more abundant yet less costly. Farmers shall earn more while the average Nigerian pays less,” he said.

On foreign policy, Tinubu said that the crisis in Sudan and the turn from democracy by several nations in “our immediate neighbourhood were of pressing concern”.

He said that his primary foreign policy objective would be the peace and stability of the West African continent.

“We shall work with ECOWAS, the AU, and willing partners in the international community to end extant conflicts and to resolve new ones.

“As we contain threats to peace, we shall also retool our foreign policy to more actively lead the regional and continental quest for collective prosperity, ” he said.

The President called on all Nigerians, irrespective of political affiliations, to support his government in his bid to take Nigeria to greater heights.

“Our administration will govern on your behalf but never rule over you.

“We shall consult and dialogue with, but never dictate. We shall reach out to all but never put down a single person for holding views contrary to our own.

“We are here to further mend and heal this nation not tear and injure it,” he said.

In the meantime, President, Bola Tinubu, has promised to defend Nigeria from terror and all forms of criminality threatening the peace and stability of the country and the sub-region.

Tinubu said this in his inaugural address after he was sworn in as the 16th democratically elected president of Nigeria on Monday in Abuja.

He said that security shall be the top priority of his administration, saying that neither prosperity nor justice could prevail amidst insecurity and violence.

“To effectively tackle this menace, we shall reform both our security Doctrine and its Architecture.

“We shall invest more in our security personnel, and this means more than an increase in number.

“We shall provide, better training, equipment, pay and firepower,” he said.

Tinubu said his mission was to improve the lives of Nigerians in a manner that nurtured humanity, encourage compassion toward one another, and duly rewards collective effort to resolve the social ills that sought to divide the nation.

“Our constitution and laws give us a nation on paper, saying we must work harder at bringing these noble documents to life by strengthening the bonds of economic collaboration, social cohesion, and cultural understanding,” he said.

He called for the development of a shared sense of fairness and equity, adding that the South must not only seek good for itself but must understand that its interests were served when good come to the North.

“The North must see the South likewise.

“Whether from the winding creeks of the Niger Delta, the vastness of the northern savannah, the boardrooms of Lagos, the bustling capital of Abuja, or the busy markets of Onitsha, you are all my people.

“As your president, I shall serve with prejudice toward none but compassion and amity towards all.

“In the coming days and weeks, my team will publicly detail key aspects of our programme,” he said.

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Economy

Fuel Subsidy Removal: Don Predicts Reduction In Fuel Price

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Prof. AbdulGafar Ijaiya of the Department of Economics, University of Ilorin, has expressed optimism at President Bola Tinubu’s inaugural remarks on the removal of fuel subsidies, saying this may reduce prices at the long run.

Ijaiya, who spoke on Monday in Ilorin, observed that with commitment from the Federal Government in revamping existing refineries alongside Dangote refineries, will increase the availability of petroleum products.

The expert who however explained that though such effect may not be felt immediately, noted that the present pump price is about N200, depending on filling stations across the country.

He questioned if the present fuel price at about N200 was as a result of the subsidy removal, adding that if it is not, then fuel may likely increase with about 50 per cent rate after the removal.

“But the thing is that very soon, what has gone wrong with the refineries will be corrected and Dangote refineries will commence by July/August,” he said.

Ijaiya, who teaches in the Faculty of Social Sciences of the university, pointed out that in the beginning there might be an increase in the prices of foods and services.

He however asserted that in a society like Nigeria where people are used to hike in prices, it would not mean much to the citizens.

“By Economics principle, we have adjusted our expenditure profile consumption to particular items. We have moved from consuming luxury and unnecessary items to necessary items.

“This means people go for what is necessary and do away with those that are not,” he said.

Ijaiya affirmed that in the long run, the fuel pump price will adjust downward and there would be more supply of the products.

He further added that when there are more supply of a particular product in the market, it will automatically reduce the price.

“If we have enough supply, with time and there are no other man-made distortion that has to do with our behaviour, I see us buying it between N80 and N100 per litre,” he predicted.

The economist also foresee filling station advertising and competing for sales, saying it will be good for the nation.

He, however, cautioned that “we are in an uncertain world”, but maintained that fuel subsidy removal would be good for the country eventually as only a minority are benefiting from it.

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