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Commercial Value :Tinubu, set to release 60,000MTs of food grains to stabilise prices, Says Edun

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The federal government has finalised plans to release an additional 60,000 metric tonnes of food grains to make food available and stabilize the price of foodstuff in the country.
Minister of Finance and Coordinating Minister for the Economy, Wale Edun made this known in Abuja on Tuesday, February 20, at the Public Wealth Management Conference organised by the Ministry of Finance and the Ministry of Finance Incorporated (MoFI).

Edun, in his address, said that President Tinubu is committed to supporting the less fortunate during these challenging times.

He stated that President Tinubu had “previously released strategic grain reserves and is currently releasing 42,000 metric tonnes of food grains, with plans for an additional 60,000 tonnes”.

These measures, the minister said, are aimed at ensuring food availability and stabilizing prices, with the expectation that prices will eventually decrease. The priority is to ensure that food reaches the market and people’s tables, no matter the effort required.

According to Edun, “President Tinubu has always said he will not leave the poor, the vulnerable the weaker in society at times like this. He has previously released strategic grain reserves, he’s currently releasing 42,000 metric tonnes of food grains and he has a plan of releasing another 60,000 tonnes of food grains.

“This is in addition to measures to make sure that whatever is in the stores comes out at this important time and we expect food prices to stabilize and begin to fall in a reasonable period and in the meantime, everything that can be done to put food in the market, on the tables of people will be done no matter what it takes.”

The finance minister talked about the implementation of an executive order allowing the Ministry of Finance, through the Debt Management Office (DMO), to offer government-backed securities.

This initiative aims to restore confidence in the Naira and provide Nigerians, both within and outside the country, the option to save in dollars. By offering dollar-denominated securities, individuals can preserve their savings in dollars while demonstrating their commitment to Nigeria.

He also talked about the collaborative efforts between fiscal and monetary authorities to address economic challenges in Nigeria. He highlighted how the Ministry of Finance’s response, including debt management strategies, led to an increase in Treasury bill interest rates, resulting in improved dollar supply to the economy.

This cooperation between fiscal and monetary policies he said demonstrates a concerted effort to stabilize the economy, reduce inflation and interest rates, and attract both portfolio and foreign direct investments.

The chairman of the MOFI Board, Dr. Shamsudeen Usman, stated that MOFI will take a more active role in managing its assets from now on. He encouraged asset operators to view MOFI as partners, not competitors or regulators.

Usman also assured of MOFI’s commitment to high standards of corporate governance, including a policy to prevent conflicts of interest among staff.

The CEO of MOFI, Dr. Armstrong Takang, outlined MOFI’s renewed mandate, focusing on expectations from both the public and private sectors. He announced the launch of a N100 billion Project Preparation Fund aimed at improving the professionalism in managing public assets.

The goal, he said is to generate commercial value for the benefit of the people and enhance investor confidence in the assets’ operations and management.

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Opeifa request for the state government to assist the Railway Police and Otti, thanks Tinubu for picking the best material to rewrite Nigeria Railway history

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Gov. Otti describes Opeifa as a thorough-bred professional ready to rewrite Nigeria Railway history
Lauds President Tinubu for picking the best material to reposition Nigeria’s oldest corporation

A deserving commendation came the way of the Managing Director of the Nigerian Railway Corporation, Dr Kayode Opeifa, as the Abia State Governor, His Excellency, Dr. Alex Otti, described him as an exceptional professional, most suitable to lead the Nigeria’s oldest surviving public corporation.

Governor Otti spoke on Wednesday, at the Government House in Abia State, during a business visit by the MD/CEO of the Nigerian Railway Corporation, as part of his familiarization tour of the Eastern District of the Corporation.

According to Governor Otti: “I have had so many engagements with past leaders of the Nigerian Railway Corporation, you are clearly different and knows the job”. He thanked President Bola Ahmed Tinubu for appointing Dr. Opeifa to lead the Nigerian Railway Corporation, expressing assurance at his ability to deliver.

He thanked the MD/CEO for promising to synergize with the Federal Ministry of Transportation, and the State Government to see that the transformation of the transportation system in Umuahia is achieved. According to the Governor, “Umuahia Bus terminal is progressing rapidly and we felt that it is important to replicate what we have in Paignton, United Kingdom in Umuahia, by linking the train station with the Terminal to enhance intermodal transportation services.

The Governor stated that he was very happy to see that the MD/CEO is committed to taking the track from Aba to Enugu and even beyond. He recalled, with nostalgia how the train had served the people of the state and regretted the downward trends of rain services across the entire South East.

On the MD/CEO’s request for the state government to assist the Railway Police in the state, Governor Otti promised that his government will provide mobility for Aba Railway Police.

He added that the state government is always ready to support the Federal Government institutions as users of such federal institutions are people of the state, adding that his administration cannot differentiate between federal and state government workers.

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Airlin Advocacy Commissions Jos Office, Targets 7m Members By Next Elections,Says Mohammed Gamawa

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During the inauguration ceremony, the National Chairman of Airlin, Mohammed Gamawa, delivered a keynote address, emphasizing the organization’s commitment to educating Nigerians on their civic rights and responsibilities.

According to Gamawa, Airlin aims to bridge the gap between citizens and the principles of the rule of law by fostering a society where people understand not only their rights but also what is expected of them by the country.

“Our goal is to foster interaction among Nigerians, promote respect for the rule of law, and ensure citizens know their rights and civic responsibilities — such as voting to elect future leaders not based on materialism but based on integrity and competence,” Gamawa stated.

He added that understanding and exercising one’s franchise, especially during elections, must go hand in hand with being law-abiding and fully aware of civil responsibilities.

As part of its mission, Airlin is currently targeting 19 states in Northern Nigeria, with Jos becoming the 15th state to be commissioned.

The ceremony also featured the appointment of state and local government coordinators who will help drive the organization’s grassroots advocacy efforts.

With a current membership base of 2.1 million Nigerians aged 18 and above, Airlin projects a significant growth trajectory, aiming to reach 7 million members before the next general elections.

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Nothing new in FBI report on Tinubu, says Onanuga

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Senior Special Adviser to the President on Information and Strategy Bayo Onanuga has dismissed a report of a United State (U.S.) court ordering two law enforcement agencies to release information on President Bola Ahmed Tinubu during a “purported federal investigation in the 1990s.”

In a tweet on his verified X handle, Onanuga told those agitated by the directive that there would be nothing revealing in the anticipated report.

In an April 9 ruling, District Court for the District of Columbia Judge, Beryl Howell ordered the Department of State, Federal Bureau of Investigation (FBI), Internal Revenue Service (IRS), Drug Enforcement Administration (DEA) and the Central Intelligence Agency (CIA) to release the information to Mr. Allan Greenspan.

The information being sought by Greenspan was classified as “confidential information” generated during a “purported federal investigation in the 1990s.”

Judge Howell said that protecting the information from public disclosure “is neither logical nor plausible.”

Commenting on the ruling, Onanuga said: “There is nothing new to be revealed. The report by Agent Moss of the FBI and the DEA report have been in the public space for more than 30 years. The reports did not indict the Nigerian leader”, Onanuga said yesterday.

He said that counsel to the President have been “examining the ruling”.

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