Former Peoples Democratic Party (PDP) presidential aspirant, Dele Momodu, has advised President Bola Tinubu against taking the reputation of a dictator by fighting citizens’ right to protest.

Dele Momodu‘s advice followed statements from Nigeria’s security agencies, including Department of Security Services (DSS), Nigeria Police, Nigeria Army and Defence Headquarters against citizens’ planned hunger protest.

Momodu reminded President Tinubu that he engaged in several protests before becoming president against policies of governments.

In a statement on Friday, on his X handle, the publisher of Ovation Magazine said, “As I write this, my mind goes back to my earliest recollection of you as a Senator of the Federal Republic of Nigeria. As a young journalist, you were everyone’s delight. The June 12 Presidential election annulment brought out the best in you as a pro-democracy figure.

“You spent money and time fighting the military. Our exile years were lived in constant fear and trepidation.”

The PDP chieftain told Tinubu that since he became President things have been hard for citizens because of his economic policies.

He said the President failed to realize the country was more complicated than Lagos State.

He continued, “Unfortunately, things have not been easy for Nigerians (except members of the privilegentsia) since you realized your lifelong ambition. And let me be frank sir. You caused it all. You did not realize that a country is much more complicated than a state.

“I’m sad and embarrassed that a fighter for democracy is now saying Nigerians will not be allowed to congregate and demonstrate on the streets, something you and I enjoyed during the military regimes, at home and abroad.

“I will never support anarchy, after engaging in peace initiatives in Sierra Leone, Liberia and The Gambia. But I’m reasonably assured that any potential threat can be contained and nipped in the bud, since our secret service claims to have discovered the sponsors of mayhem. Such people should be arrested speedily.

Dele Momodu further advised President Tinubu to go back to his friends who fought for democracy alongside him for sincere truth.

He told Tinubu to use the opportunity of the planned protest to test the strength of Nigeria’s security agencies.

“Please Sir, go back to your original friends in civil liberties and seek their assistance. Then, use this opportunity to test the strength, security architecture and combat readiness of our security agencies. Ignore the advice of the hawks in your team. They have nothing to lose since they are mostly beneficiaries of what others died for. Resist the temptations of full blown dictatorship,” he said.

The Take-It-Back Movement, a civil society organization, has claimed that its bank account with a major bank has been frozen on the orders of the Department of State Services (DSS).

According to the group, this action is a direct response to their involvement in the upcoming nationwide protest.

 

In a statement posted on their X account on Friday, the organization condemned the freeze as an unlawful act.

The group demanded that their account be reinstated within 24 hours or face legal action against the bank.

It has now come to our attention that @UBAGroup has frozen our account on the instructions of the DSS over our involvement in the forthcoming protest.

“We describe this action as lawless, and demand our account be unfrozen immediately within the next 24hours, without which a legal action will be instituted against @UBAGroup,” the post read.

Former African Action Congress (AAC) presidential candidate, Omoyele Sowore, commented on the situation, labeling it a conspiracy against the Nigerian populace.

Naija News reports that Nigerians are organizing a nationwide protest from August 1 to August 10, 2024.

The protest, dubbed #EndBadGovernance, aims to address the issues of widespread hunger and inflation in the country.

Recall that the DSS on Thursday issued a stern warning against the planned nationwide protest aimed at addressing the economic hardships in the country.

In a press statement signed by the Director of Public Relations and Strategic Communications, Dr Peter Afunanya, and made available to Vanguard, the DSS disclosed that it had identified the sponsors of the protest.

In a move to stabilize the foreign exchange market and counteract the recent depreciation of the naira, the Central Bank of Nigeria (CBN) has disbursed $148 million to 29 authorized dealers.

This was disclosed in a statement posted on the apex bank’s website on Friday.

The statement highlighted that the sales were conducted on Monday, July 22, and Tuesday, July 23, 2024, with exchange rates ranging between ₦1470.00/$1 and ₦1510.00/$1.

This intervention follows the CBN’s previous disbursement of $122.67 million to 46 authorized dealers two weeks ago, aimed at promoting market stability and reducing volatility.

Additionally, a week ago, the CBN announced the sale of $20,000 to each Bureau De Change (BDC) operator at the rate of ₦1,450/$1.

Despite these efforts, the naira has continued to depreciate, trading above ₦1,600 against the US dollar at the official market on Thursday.

The continuous decline of the naira has raised concerns among businesses and consumers, with rising import costs and increasing inflationary pressures.

The CBN’s interventions are critical in providing liquidity and restoring confidence in the market during these challenging times.

The statement read, “The Central Bank of Nigeria sold a cumulative sum of US S148,000,000.00 in the Nigerian Foreign Exchange market to authorised dealers on July 22 and 23, 2024.

“The sale of foreign exchange was to 29 authorised dealer banks at an exchange rate of 1470.00/US$1-1510.00/US$1.”

A former presidential candidate of the African Action Congress (AAC), Omoyele Sowore, has dared the Minister of the Federal Capital Territory (FCT), Nyesom Wike over the planned nationwide strike.

Recall that Wike had stated that the protest would not hold in Abuja.

He said that August 1 had been set aside for the chairmen of the six Area Councils of the FCT to give out certificates of recognition to their traditional rulers.

The Minister gave the warning while briefing journalists on the outcome of the FCT Security Council meeting in Abuja on Thursday.

Reacting via his X handle on Friday, Sowore stated that the protest would start from Abuja.

He shared a news article of the minister declaring that there would be no protest in the territory, and wrote, “It is starting from and in Abuja!.”

Naija News reports that some Nigerians are mobilising for the nationwide protest slated for August 1 to August 10, 2024.

Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, has revealed the details of the meeting between traditional rulers and President Bola Ahmed Tinubu.

Recall that Tinubu held an emergency meeting with Traditional Rulers led by the Sultan of Sokoto, His Eminence, Muhammad Sa’ad Abubakar III on Thursday.


The meeting was not unconnected to the imminent nationwide protest over the widespread hardship in the country. The protest is slated for August 1-10, 2024, on Thursday.

Speaking after the meeting, the monarch said Tinubu asked Nigerians who are dissatisfied with his administration to express their dissatisfaction at the polls and vote him out in the 2027 presidential election.


Ooni of Ife noted that Tinubu called for dialogue while reiterating his resolve to end the country’s economic hardship.


“The President has said, ‘Any leader that you don’t like, wait (until 2027) and vote him out.’ He is open to dialogue. We know that Nigeria faces many challenges. But are we going to destroy our nation by ourselves? Is that what we are all after?

“It is very difficult to build, but it is the easiest to destroy. We are all stakeholders in this country and are stronger as a nation than individually,” the Ooni of Ife said.

Tinubu had earlier said the sponsors of the protest are enemies of Nigeria, adding that his government is doing everything to address the challenges faced by Nigerians.

He also said Nigeria’s economy is on the path of recovery and gave assurance of better days.

This comes amid rising dissatisfaction among Nigerians on the state of the economy as core and food inflation stood at 34.19 percent and 40.87 percent, respectively.

Wale Edun, the minister of finance, says over 600,000 households have benefited from the direct cash transfer programme of the federal government following the resumption of payments.

Edun spoke on Thursday in Abuja during the half-year review ministerial press briefing, themed, ‘Economic Recovery and Growth: Progress and Prospects 2024’.

On July 18, 2023, President Bola Tinubu ordered an immediate review of the conditional cash transfer scheme — an intervention initiative coordinated by the national social investment programme agency (NSIPA).

The president later suspended all programmes administered by NSIPA for six weeks, as part of a probe of alleged malfeasance in the management of the agency and its programmes.

During a radio interview session in Kaduna, Mohammed Idris, the minister of information and national orientation, disclosed the federal government’s plan to resume the intervention schemes.

Speaking at the press briefing, the minister reiterated Tinubu’s commitment to the welfare of ordinary Nigerians and the government’s efforts to ensure transparency and accountability in its social protection initiatives.

“Following the resumption of payments, over 600,000 households have already received this direct transfer this week,” Edun was quoted as saying in a statement by in a statement on by Mohammed Manga, the ministry’s director of information and public relations.

Edun said the government has made significant strides in its economic reforms, “well on its way to achieving a step-change in the revenues of the government; closely in line with the budget for 2024”.

He also announced the government’s exit from the ways and means borrowing mechanism, highlighting successes of the government’s reforms while citing a projected budget deficit of 4 percent in the 2024 fiscal year.

Edun acknowledged the temporary hardships caused by the reforms but assured that Nigerians would soon benefit from the expected outcomes.

He said the government’s “well-coordinated economic policies are beginning to yield results, evidenced by the deceleration in inflation growth, a rise in foreign investments compared to the same period last year”.

The minister said one of the major priorities of the incumbent government in the immediate term is to reduce food prices and focus on providing all the necessary support to increase local food production, given the impact of high food prices on inflation.

He said efforts are underway to achieve this goal.

The minister said with the outcome of the first half of 2024, “the economy is turning the corner.”

Edun added that with macroeconomic stability, the economy is being well positioned for sustained and inclusive growth that creates jobs, lifts millions out of poverty, and drives domestic and foreign investments that would improve the general wellbeing of the average Nigerian.

The Federal Capital Territory Command of the Nigeria Police Force has deployed 4,200 policemen in Abuja ahead of the planned nationwide protest.

 

The spokesperson of the FCT Police Command, Josephine Adeh, in a statement on Friday, disclosed that the deployment was to ensure public safety, protection of protesters and to prevent the protests from being hijacked by non-state actors.

 

Adeh added that Police operatives deployed include explosive ordinance device experts at various strategic locations.

 

She added that there would be raids on identified black spots, uncompleted buildings/shanties, and stop and search operations, among others, in collaboration with sister security agencies.

Tunji Bello has officially assumed his role as the Executive Vice Chairman/ Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC) today.

 

The Senate had on Tuesday confirmed the appointment of Bello Olatunji as Chief Executive Officer/Executive Vice Chairman of the FCCPC.

President Bola Tinubu in June approved the appointment of Bello as the new FCCPC Boss after removing Babatunde Irukera in January 2024.

Bello’s confirmation followed consideration of the report of the Senate Committee on Trade and Investment presented by Suleiman Sadiq, the Senator representing Kwara North during plenary on Tuesday.

The President expects that the new Chief Executive Officer of the agency will ensure the holistic realization of the Commission’s mandate of protecting and promoting the interest and welfare of Nigerian consumers, and ensuring the adoption of measures to guarantee the safety and quality of goods and services.

 

Bello, a lawyer, administrator, and renowned journalist is the former secretary to the Lagos State Government and holds a Master’s degree in International Law and Diplomacy from the University of Lagos. He studied Law at the same university and was called to the Nigerian Bar in 2002.

 

Bello began his career in journalism at the Concord Newspapers in 1985 and held the positions of Group Political Editor; Sunday Concord Editor, and Editor, National Concord.

He is a winner of the US Alfred Friendly Press Fellowship and was appointed the Chairman, Editorial Board of THISDAY Newspapers in 2001.

He also served as Commissioner for Environment under various administrations in Lagos State.

Bello brings a wealth of experience to the FCCPC, and we are confident he will be a strong advocate for fair competition and consumer protection in Nigeria.

He was welcomed to the Commission by Adamu Abdullahi, Executive Commissioner Operations, and Kola Alabi, Executive Commissioner, Corporate Services.

Abdullahi served as the Commission’s chief executive in an acting capacity until Bello resumed.

Before settling into his office, Bello went round the Commission to familiarize himself with the staff.

[BuinessDay]

The economy is growing faster and government’s financial position becoming better as ongoing reforms continue to address fundamental pillars for sustainable development.

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, yesterday gave a full overview of the national economic data, with significant improvements in fiscal and monetary positions. 

Speaking at the newly introduced quarterly media briefing yesterday in Abuja, Edun highlighted that the economy grew faster in the first quarter of 2024 compared to 2023.

According to him, economic activity in the first quarter of 2024 was not only faster than first quarter of 2023, but it was also the second fastest first-quarter growth in the last six years.

He noted that the economic growth was broad-based across several sectors including agriculture, industries and services, with agricultural growth recovering from negative in the first quarter of 2023 to a modest growth in the first quarter of 2024.

 

He pointed out that the industrial sector grew seven times faster in first quarter 2024 than in first quarter 2023.

He attributed this positive economic performance to the government’s well-coordinated fiscal and monetary policies.

Edun explained that aggregate federal government revenue in the first half of 2024 was more than double of the corresponding period in 2023.

He attributed the revenue growth to the reconfiguration and improvement in government finances, with oil revenue as a percentage of gross revenue increasing from 11 per cent in the first half of 2023 to 30 per cent in the first half of 2024.

The finance minister also highlighted the strong performance of non-oil revenue, which not only surpassed the revenue in the first half of 2023 but was also 30 per cent above the 2024 budget target, without any increases in taxes.

He emphasised the government’s commitment to further improving revenue through increased oil production and sales, as well as enhancing the fiscal policy landscape to attract more investment into the sector.

He pointed out that Nigeria’s debt burden has reduced in dollar terms, and the government’s fiscal deficit has improved, as the country’s economic reforms continue to yield positive results.

 

“Our debt has fallen in dollar terms from $108 billion to $91 billion. Not only that, the government has diligently serviced all its loans and obligations with no recourse to ways and means financing. The government has met all its obligations,” Edun said.

He noted that the government is not relying on ways and means borrowing, which can be inflationary, and has paid back the previous N7.3 trillion obligation within a year of President Bola Tinubu’s administration.

He highlighted the improving debt service-to-revenue ratio, which has declined from 97 per cent in the first half of 2023 to 68 per cent in 2024, indicating the government’s strong position in managing its debt obligations.

On the budget, Edun said that the 2024 budget deficit has moved in the right direction, with a target of 4.1 per cent of GDP, an improvement from the 6.1 per cent deficit recorded in 2023.

“On an annualized basis, we are at 4.4 per cent, so you can see we are effectively very, very close to the budgetary target,” Edun said.

He noted government’s efforts to attract foreign inflows, including the implementation of the national single window project, which is expected to generate $2.7 billion per annum in economic benefits.

He added that the government’s accelerated stabilisation and advancement plan has already attracted $500 million in investment in the gas sector, with $7 billion more on the sidelines waiting to come in.

According to him, to address the high cost of living, the government has implemented several initiatives and interventions, including a strategic input programme to increase the supply of food, a pivot to Compressed Natural Gas (CNG) fuel for mass transit vehicles, and providing lower-cost financing for the manufacturing industry and production.

He expressed optimism that inflation, despite being “quite sticky at the moment,” will moderate soon due to the government’s commitments and actions.

“Clearly, as part of the reform program, on the monetary side, monetary policy has been tightened. CBN has been proactive in adjusting the monetary policy rate to address inflation head-on, which is in line with its legal mandate,” Edun said.

Addressing the concerns about social unrest, Edun acknowledged the right to protest and freedom of speech in a democracy, but urged Nigerians to give the government more time to push through the necessary reforms that have come at a cost.

He emphasized the government’s plans to provide long-term, low-interest mortgages to ordinary Nigerians to help alleviate the high cost of living.

[TheNation]

President Bola Tinubu has acknowledged his participation in various protests throughout his political career but stressed the importance of maintaining non-violence during demonstrations.

 

The President made these remarks while receiving the Letter of Credence from the newly appointed United States Ambassador to Nigeria, Mr. Richard Mills Jr., at the Presidential Villa in Abuja.

During the ceremony, President Tinubu emphasized the critical role of peaceful protests in a democratic society, highlighting that they are a fundamental aspect of democracy and a legitimate way for citizens to express their grievances.

 

However, he noted that no government would tolerate protests that escalate into violence, leading to the destruction of lives and property.

 

The President reiterated his commitment to sustaining democracy and its institutions in Nigeria, ensuring that citizens’ rights to peaceful assembly and expression are protected.

 

He expressed optimism about the continued partnership between Nigeria and the United States, particularly in areas of democratic governance and institutional support.

 

The President said, “Our relationship with America is rich. We believe in democracy and freedom. Some of your predecessors worked hard during our transition to democracy, and we remember the likes of Ambassador Howard Jeter.

 

“We look forward to Nigeria and the United States continuously working to expand cooperation on shared goals and democratic values.

 

“During the military era, we made our voices heard against dictatorship, and I was part of the group that engaged in peaceful protests without resorting to the destruction of property. We have worked hard to ensure 25 years of unbroken democracy, and I will continue to maintain this democracy.”

 

The President said in as much as he believes that demonstrations are part of democracy, “we will never encourage any protests that lead to the destruction of lives and property”.

 

Welcoming the U.S. State Department’s acknowledgement of Nigeria’s strategic role on the continent as Africa’s largest democracy, President Tinubu called on the U.S. government to pay more attention to Africa.

 

He further stated, “Nigeria is ready to play its role as the largest democracy in Africa that is worthy of emulation to other African countries, but we need more U.S. partnership on the continent that is beneficial to both sides. We believe in freedom, and we are providing the leadership to make Nigeria’s economy grow.”

 

Ambassador Mills affirmed U.S. support for Nigeria’s democracy and pledged support for bigger roles for Nigeria in the international arena.

 

Mills said, “Nigeria is crucial to the United States because we share democratic values, and we are ready to give you all the support.

 

“I am here to make sure that the relationship blossoms both on democracy and the economic side.”

 

Expressing the United States’ commitment to expanding cooperation with Nigeria on cybercrimes, the Ambassador announced the establishment of a special office at the Embassy to work closely with the Economic andF inancial Crimes Commission (EFCC).

 

Last modified on Friday, 26 July 2024 06:29