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Courageous Steps by Tinubu in making Nigeria a destination of choice for investors , says Edun

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The President Bola Ahmed Tinubu administration to steer the economy in the right direction has propelled Nigeria to become the destination of choice for most investors.
Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun made this known yesterday at a press briefing in Marrakech, Morocco.

Highlighting Nigeria’s current investment climate and the opportunities available for foreign and domestic investors, the finance minister said Nigeria has taken bold, courageous steps to improve its economy and is now a prime destination for investment.

Edun acknowledged that more work is needed but believes that Nigeria is on the right path towards economic recovery, job creation, and inclusivity for women and young people.

He insisted that the opportunity being presented is not only to showcase what Nigeria has done but to also allow people to gain a better understanding of the progress that has been made.

The Minister noted that some countries now see Nigeria’s progress as an inspiration but lack the courage to take similar steps.

According to him, “regarding the opportunity to attract investment, there have been many conversations and in all honesty the narrative is that with the bold courageous steps that Nigeria has taken, we are now at the forefront almost number one on people’s list when they want to look at where to invest, that is now the narrative.

“There is more to be done but Nigeria is definitely on the right path, taking the right decisions for the economy to recover and for it to attract foreign direct investment as well as domestic investment in other to recover true economic growth, job creation and at the same time achieve inclusivity of women and young people.”

The finance minister added that “the opportunity we have had, not so much to stand in front of people and showcase but that they get the opportunity within this environment to understand even more clearly what has been done and the truth is there are some countries here that say that ‘these are steps we would like to take but they do not believe they have essentially the courage to do it’.

With regards to debt restructuring, the finance minister said the goal is to improve or modify the terms of the debt so that the borrower can better meet their obligations.

Edun agreed that waiting to restructure debt is not always the best approach but instead suggested being proactive and looking for opportunities to improve the conditions under which the debt was borrowed.

However, he pointed out that given the current global economic climate, debt is becoming less affordable due to high interest rates.

He noted that, if a borrower has access to cheap financing, they should take advantage of it as long as they are comfortably servicing the debt.

In situations where a borrower can afford to do so, they should try to pay down debt in order to avoid it becoming a burden.

Speaking about more government borrowing but this time from the Central Bank, the finance minister underscored President Tinubu’s commitment to fiscal responsibility, rule of law, and a responsible approach to managing government finances, particularly in the context of borrowing from the central bank.

According to him, one of President Tinubu’s key priorities is to adhere to the legal framework and regulations already in place and this, the minister explained, extends to the President’s commitment to staying within the limits for “Ways and Means”.

Edun emphasized that President Tinubu is aware of the importance of fiscal responsibility, even though he may resort to overdraft borrowing, “his goal is to ensure that the government doesn’t exceed the statutory limits set for such borrowing.

Moreover, the minister said that there has been a realization of the need to reduce the reliance on borrowing from the central bank, which might have been excessive or appeared to be spiraling out of control in the past.

On the talks with the World Bank on $1.5 billion budget support, the minister confirmed that Nigeria was in talks with the World Bank to access the facility.

According to Wale Edun, “it has free money through IDA International Development Association. It is for the poorer countries and right now I think we qualify as one of the countries that can borrow in the normal window of World Bank funding but also some concessionary IDA funding and that means that effectively the interest rate will be zero.

“So, therefore, there is no stigma attached to qualifying for World Bank funding to help finance development. In this particular case, it has long been in the pipeline, and we are hoping that the funding will come through soon.

“A lot of hard work is being done. There is a Federal Executive Council meeting on Monday, that should be able to discuss this, as well as other initiatives for financing on reasonable terms. We have talked about the high costs of money, the World Bank money is the cheapest”.

Speaking on the current level of hardship Nigerians are going through as a result of putting an end to subsidy on fuel and exchange rate unification, the finance minister said “these are painful reforms and Mr. President is a man of empathy who promised not to leave the vulnerable and poor behind.

“As you know there is a set of interventions being rolled out which, day by day, should improve things. More food has been grown, fertilizers are being released, Compressed Natural Gas (CNG) transport is the order of the day, while the government buses, conversion kits are on the way, there is take-up of that initiative by the private sector.

“So day by day we are moving closer to affordable and even cleaner energy simply because the price of petroleum products has been put where it really stands rather than having cheap fuel which is below the market price and below its value. Now you are seeing the right value and that is making the move to cleaner and finer energy.

He also added that one of the benefits of some of the measures taken, “is the fact that there has been a 30 per cent reduction in smuggling of petroleum products across the border, I think is a major achievement of that all important step to remove fuel subsidy.

Meanwhile, the Minister has been appointed as the Chairman of the African Governors’ Forum of the World Bank.

The African Governors’ Forum is a platform for African finance ministers and central bank governors to engage with the World Bank on issues of mutual interest.

The African Caucus was established in 1963 to strengthen the voice of African Governors.

A statement issued by the Federal Ministry of Finance on its official X (formerly Twitter) account, said that this marks the first time Nigeria has assumed the role of Chairman in 60 years.

It said: “World Bank Appointment: Nigeria’s Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun has been appointed to Chair the African Governors’ Forum of the World Bank.

“This marks the first time Nigeria has assumed the role of Chairman in 60 years.

‘’The appointment presents a unique opportunity for Nigeria and the implementation of President Tinubu’s Renewed Hope Agenda.’’

According to the IMF’s guiding principles for the caucus, the forum’s Chairman is determined by rotation based on the alphabetical order of African countries.

This system ensures that each country takes its turn to lead the group, preventing one nation from chairing the forum twice while others have yet to assume the role.

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JUST IN: First Lady Secures N30.5bn Support from Dangote, NNPC, Governors for Food Bank

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…Private sector, states rally behind national fight against hunger
…Programme targets vulnerable households, children under six
By Bolaji Ogundele, Abuja
Nigeria’s private sector leaders and state governments on Thursday pledged over N30.5 billion in support of the National Community Food Bank Programme, a flagship initiative championed by the First Lady, Senator Oluremi Tinubu, to combat hunger and food insecurity across the country.

The pledges were announced at the official launch of the programme and inauguration of its Board of Trustees, drawing commitments from major corporate organisations, philanthropic foundations, and subnational governments.

Leading the pack, the Aliko Dangote Foundation, represented by its Managing Director and CEO, Zouera Youssoufou, on behalf of Africa’s richest man, Alhaji Aliko Dangote, committed N20 billion in-kind support over five years.

“It is an honour to stand here today on behalf of the organised private sector. This programme directly addresses food insecurity among vulnerable households, particularly children under six.

“Aliko Dangote Foundation will commit N20 billion in-kind support over the next five years on the provision of fortified and nutritious food products”, Youssoufou said.

She urged broader corporate participation, saying, “I would like to call on the entire organised private sector to actively support this programme,” adding that its success would deliver “a Nigeria where no child goes to bed hungry,” in line with “President Bola Ahmed Tinubu’s Renewed Hope Agenda.”

The Nigerian National Petroleum Company (NNPC) Limited also pledged N10 billion over five years, with Sofia Mbakwe representing the Group Executive Officer, Bayo Ojulari.

“This ceremony stands as a powerful testament of purposeful leadership by Her Excellency Senator Oluremi Tinubu,” Mbakwe said.

Highlighting the programme’s framework in partnership with the Bank of Agriculture, she added, “NNPC Limited is committing a starting sum of N10 billion to be disbursed over the five-year period.”

She assured that the company would “leverage our strategic partners and stands ready to work with you to ensure that this program delivers lasting and measurable impact.”

Also lending support, the Sir Emeka Offor Foundation pledged N500 million, announced by its representative, Chidioke James.

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“Today is not just about launching a fund. It is about launching hope. No society can truly prosper while hunger persists.

“We are very proud to stand with the mother of the nation, the First Lady. The founder has asked that I announce the commitment of 500 million.”

At the grassroots level, the Association of Local Governments of Nigeria (ALGON) pledged full institutional support for the programme, describing it as timely and critical.

Represented by Hamisu Mohammed, ALGON said local governments, as “custodian of the community and the masses,” view the initiative as “a signature legacy project.”

“This initiative comes at a critical time for food insecurity and rising cost of living. Local government fully appreciates grassroots-driven solutions,” he said, pledging “cooperation and partnership particularly in rural and underserved communities.”

Similarly, the Chairman of the Nigeria Governors’ Forum (NGF) and Governor of Kwara State, Abdulrahman AbdulRazaq, assured that state governments would provide substantial counterpart funding.

“Across our states, we see the pressure many households face in accessing affordable and nutritious food. More than one third of the children under five are stunted. This points to chronic undernutrition with lasting consequences for fiscal growth and development. This is not only a health issue, it’s a national issue,” he said.

He praised the First Lady’s “personal commitment” to tackling hunger and aligned the initiative with ongoing state-level nutrition interventions.

“The NGF stands ready to work closely with the federal government… I’ll confer with my colleague… we’ll present a counterpart fund that will closely align to what the Federal Government is donating,” he added, referencing the Federal Ministry of Health’s N17 billion pledge.

 

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BREAKING: Court Puts Off El-Rufai’s Bail Hearing, Sets New Date

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The Federal High Court in Kaduna on Tuesday adjourned the hearing of the bail application filed by former Kaduna State Governor, Nasir El-Rufai, till Wednesday.

The adjournment followed proceedings that took place under tight security, reflecting heightened public interest in the high-profile corruption trial.

Counsel for the ex-governor, Ukpong Akpan, confirmed the development shortly after the session but declined to give details.

“I’m sorry, I can’t talk now, we are in the middle of work. I have to go and file responses. The hearing of the bail application has been adjourned till tomorrow,” he said.

Shortly after the court rose, El-Rufai was escorted out of the premises by operatives of the Independent Corrupt Practices and Other Related Offences Commission in a white Hilux vehicle.

Earlier, the former governor had returned to court amid heavy security for the continuation of proceedings on his bail request.

The security arrangement mirrored the situation during his arraignment last week when he was first docked before the court.

El-Rufai is standing trial before Justice Rilwan M. Aikawa on a 10-count charge bordering on alleged conversion and possession of public property as well as money laundering.

He was brought to court after spending over a month in detention, a development that has continued to draw widespread attention across the country.

The court had earlier fixed March 31, 2026, for the hearing of all pending applications, including the bail request.

However, the anti-graft agency had on March 27, 2026, released him on compassionate grounds following the death of his mother, Hajiya Ummar El-Rufai, in Cairo, Egypt.

In a related development, the former governor was earlier on Tuesday arraigned before a Kaduna State High Court sitting in Kawo on separate charges.

At the State High Court, he was docked alongside one Amadu Sule on allegations ranging from abuse of office and fraud to intent to commit fraud and conferring undue advantage.

The charges, also filed by the anti-corruption commission, are separate from those before the Federal High Court.

After the proceedings at the State High Court, the commission moved El-Rufai to the Federal High Court within the same premises for continuation of proceedings.

With the adjournment, the hearing of the bail application is expected to resume on Wednesday.

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Araraume Felicitates President Tinubu on his birthday. Hails his Reform Agenda and National Milestones

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Senator Ifeanyi Araraume has congratulated President Bola Ahmed Tinubu on the occasion of his birthday, praising the President’s leadership style and the series of reforms that have shaped the direction of the country since he assumed office.

In a statement issued on Saturday, Araraume described President Tinubu as “a courageous reformer whose decisions continue to redefine Nigeria’s economic and governance landscape.” He noted that the President’s first year in office has been marked by bold policy choices aimed at stabilizing the economy and laying the groundwork for long term national development.

Araraume highlighted the removal of the petrol subsidy as one of the most significant economic decisions in recent decades, saying it demonstrated the President’s willingness to confront long‑standing structural challenges. According to him, the policy, though demanding, has redirected national resources toward infrastructure, social investment, and other critical sectors.

He also commended the administration’s unification of the foreign exchange market, describing it as a major step toward restoring investor confidence and strengthening Nigeria’s global competitiveness. The senator noted that the reforms have attracted renewed interest from international partners and signaled a commitment to transparent economic management.

Beyond economic restructuring, Araraume pointed to ongoing infrastructure expansion as evidence of the administration’s focus on national development. He cited the acceleration of key road projects, renewed efforts to expand rail connectivity, and the push to improve power generation and distribution as initiatives that reflect the President’s long term vision for a more productive Nigeria.

The senator further acknowledged the government’s interventions in agriculture, including support for mechanization and targeted programs aimed at boosting food security. He said these efforts are essential to reducing dependence on imports and strengthening local production.

On the diplomatic front, Araraume praised President Tinubu’s engagements across Africa and beyond, noting his role in strengthening regional cooperation within ECOWAS and advancing Nigeria’s interests on the global stage.

“As we celebrate this milestone, it is important to recognize the resilience and determination with which President Tinubu has approached the task of nation building,” Araraume said. “His commitment to reforms, economic stability, and democratic governance continues to inspire confidence in Nigeria’s future.”

He wished the President good health, renewed strength, and continued wisdom as he leads the country through what he described as “a defining period in Nigeria’s history.”

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