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Why Nigerians Are Facing Current Economy Hardship – Bagudu

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By Tony Obiechina, Abuja

Minister of Budget and Economic Planning, Abubakar Bagudu, has said that citizens should expect discomfort as a result of the policies of the Bola Tinubu-led administration but he believes the policies would translate into shared prosperity.

Bagudu said this during the presentation made by the nation’s economy at the House of Representatives on Tuesday.

He said the National Assembly, particularly the House of Representatives, was right to be worried about complaints on Nigeria’s cost of living.

“One of the quickest wins and this challenge does not come unanticipated.

We reckon with global challenges that are impacting us domestically, and we reckon with the transitional nature of some of the measures that we have taken.

“We know that they will have some impact, but we have compensatory kindnesses, one of which is to support domestic production, particularly one that we are most familiar with 36 states of Nigeria plus the FCT and the agricultural production is a component as well as other infrastructural activities for which funding has been generously provided in the budget.

“What is happening in our country is akin to somebody visiting a reconstruction site. It might be inconvenient. Those living in it might be inconvenienced, especially when such a construction site involves people living in them. In improving the site, you have to discomfort those who are living there as well as those who are coming to help.”

The minister noted the government’s plan to prioritise projects that will stimulate economic activity as quickly as possible.

Bagudu said, “We are very clear that we are on the right track and the challenges of the moment are being dealt with.

“We are sure that we will overcome the challenge of the moment, and we build our path to sustain economic growth that includes everyone.”

In a related development, the Central Bank of Nigeria (CBN) has said that it approved $28.6bn on foreign education and another $11bn on foreign medical trips between 2010 and 2020.

The governor of the CBN, Olayemi Cardoso made the revelation on Tuesday during a presentation before the House of Representatives

Cardoso said the figures which summed to $40bn have contributed to the country’s foreign exchange crisis which has dragged the naira to depreciate to over N1,400 at the official market.

The CBN made provisions for school fees and healthcare at a CBN-approved rate.

According to the CBN boss, recent data shows there are significant changes in the demand for PTA for payment of school fees abroad compared to the early 1990s.

Cardoso quoted UNESCO Institute of Statistics data which shows that the number of Nigerian students abroad increased from less than 15,000 in 1998 to over 71,000 in 2015.

He said that by 2018, the figure had reached 96,702 Nigerian students schooling around the world.

The CBN said Nigerian students schooling abroad will exceed 100,000. UK’s Higher Education Statistics Agency projected a 64 per cent increase in Nigerian study in the country, rising from 1,320 in the 2009-2020 academic session to 21,305 by the 2020-2021 session.

Cardoso said, “Given this data, it is crucial to highlight that between 2010 and 2020, foreign educational expenses amounted to a substantial $28.65bn, as for the CBN publicly available balance of payment statistics.

“Similarly, medical treatment abroad has entered around $11bn in costs during the same period. Consequently, over the past decade, foreign exchange demand for education and healthcare has totaled nearly $40bn.

“Notably, this amount surpasses the total foreign exchange reserves of the CBN. Mitigating a significant portion of this demand could have resulted in a considerably stronger naira today.”

Cardoso also revealed plans to introduce a new foreign exchange operation mechanism for the operation of the Bureau de Change segment and fight currency hoarding.

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Bayelsa state is for APC, says Lokpobiri

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“As he delivered 13,591 votes to president Tinubu in his Ward 8”

From Mike Tayese, Yenagoa

As the 2027 political activities is gathering momentum and with Presidential Primary done and dusted by the Ruling All Progressives Congress (APC), the Minister of State for Petroleum (Oil), Senator Heneiken Lokpobiri has declared that Bayelsa state is for APC.

The Minister handed down this while answering questions from Newsmen after the declaration of results from the presidential primary election in Ward 8 in Ekeremor Local Government Area of Bayelsa state.

According to him, “today is the presidential primary to nominate who will be the candidate of APC in 2027 presidential election. We started with the state Assemblies, then House of Representatives and Senate.Today is the nomination for who will be our presidential candidate”.

“As you can see, this is Ekeremor Ward 8, this is my own ward, over thirteen thousand registered members of the APC are here to participate in the primary, am not a voter, as a political appointee, the law says I cannot vote or be voted for, but am entitled to be an observer

“Am very happy, voting has been done and our candidate president Bola Ahmed Tinubu has won, the other candidate they don’t know and he got zero vote. As we are speaking here, the excercise is going on in all the 12 wards in Ekeremor LGA . So am very happy that this excercise started peacefully and is ending peacefully.

‘We are fully prepared for whosoever want to challenge our candidate from other parties. We have credible candidates to present against their candidates

“With me here is Barr. Tari-ere Joyce Gita APC candidate for Ekeremor Constituency 1. Hon. Living Mitin APC candidate for Constituency 2, and Barr. Berry Negerese as APC candidate for Ekeremor Constituency 3. While Chief Fidelis Agbiki is the Bayelsa West Senatorial District candidate.

“There is no any other parties in bayelsa again outside APC, the state is APC, anyone you can’t find here is a retired politicians. Anyone you can find here is retired.

“We are sure of victory in Ekeremor LGA come 2027 general elections. We are United, strong to defeat any other candidates from other parties
Am not aware of any other candidates running against Mr President, take whatever you’re seeing here, zero result for whoever is contesting against Mr President .

“We can assure you that the same thing is happening in all the,105 Wards in the state. Bayelsa is for APC”, he said.

Declaring the results, the returning officer of the presidential primary in Ward 8 Ekeremor Local Government Area, Ashanti Bekomowei said, President Bola Ahmed Tinubu scored 13,591 votes, while his contender Stanley Osifo scored zero vote and therefore declared president Bola Ahmed Tinubu as the winner.

The Bayelsa West Senatorial District candidate Chief Fidelis Agbiki and the three Assembly candidates, said APC will come out victorious in all the elective offices come 2027 general elections.

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Tinubu Polls 277,192 Votes In APC Presidential Primaries in Bayelsa*A Restructured Nigeria Possible, Says Gov Diri

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From Mike Tayese, Yenagoa

President Bola Tinubu, on Saturday, polled 277,192 votes in the direct primaries of the All Progressives Congress (APC) across the 105 wards in the eight local government areas of the state.

Governor Douye Diri, who served as the state’s Coordinator/Collation Officer for the presidential primary, declared the results at the collation centre at the Chief DSP Alamieyeseigha Memorial Banquet Hall, Yenagoa.

His Chief Press Secretary, Mr. Daniel Alabrah, quoted Governor Diri as saying that the peaceful conduct of the exercise across the state, from the presidential to the National Assembly and the House of Assembly primaries, showed a shift from the party’s “toxic” primaries previously in the state.

He stressed that no single individual could win an election without collective support, urging members to close ranks ahead of the 2027 general election.

His words: “As our party chairman already informed us, the party at the national level graciously asked me to be the returning officer and the chief collation officer.

“You have conducted yourselves so well. The exercise has been peaceful, calm, and in some areas more of a festive mood.

“To all those who contested and lost, you still have to be party men. I’m seeing a lot of them here, and that shows they are sportsmen. They belong to APC and they are going nowhere,” he said.

The Bayelsa helmsman stated that with the party’s unity and the strength of incumbency at both the state and federal levels, APC was well-positioned to dominate the elections.

“If all of these people here will go back to our wards, can’t we deliver? Can anybody beat us in Bayelsa State? It is a very big capital No.

“We have the human beings that know the strategies of elections. With our numerical strength and incumbency, it is game over in Bayelsa State,” he said.

Giving a breakdown of the results presented by the returning officers in each of the local government areas, he said Tinubu scored 39,454 in Brass, Ekeremor 45,949,
Kolokuma/Opokuma 22,593, and
Nembe 32,487.

The president also got 24,896 in Ogbia, Sagbama 46,283
Southern Ijaw 34,692 and
Yenagoa 30,834.

His only challenger, Mr. Stanley Osifo, got only five votes from Yenagoa local government area.

Earlier, speaking to party faithful and supporters after the exercise in his Sampou/Kalama Ward 6 in Kolokuma/Opokuma local government area, the governor said the APC remained the only party offering hope to Nigerians through the Renewed Hope Agenda of President Tinubu.

He said while there were two contestants in the presidential primary, the president was the overwhelmingly preferred choice among party members due to his leadership record and national visibility.

Diri acknowledged the reforms undertaken by the current administration were painful but maintained that they were necessary as the country would ultimately be repositioned for long-term prosperity.

He also expressed confidence that the restructuring of Nigeria was possible under Tinubu, describing him as one of the few leaders with the experience, democratic credentials, and political will to transform the country.

According to him, restructuring remains critical to addressing the nation’s recurring ethnic, religious, and political challenges.

Citing Tinubu’s role in Nigeria’s pro-democracy struggle and his involvement in the National Democratic Coalition (NADECO) during the military era, he said the president was one of the best-qualified leaders to champion the restructuring agenda.

Collation of the results was observed by the Independent National Electoral Commission (INEC) Resident Electoral Commissioner in Bayelsa, Isah Ehimeakhe, the commission’s Administrative Secretary, Mrs. Eme Akpa, ‎as well as the state Commissioner of Police, Mr. Daniel Iyamah and service commanders

In attendance were the Deputy Governor, Dr Peter Akpe, Senator Konbowei Benson (Bayelsa Central), House of Representatives members, Oforji Oboku (Yenagoa/Kolokuma/Opokuma federal constituency) and Rodney Ambaiowei (Southern Ijaw federal constituency) as well as the State APC Chairman, Hon. Warman Ogoriba

Also present were the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Speaker of the Bayelsa State House of Assembly, Rt. Hon. Abraham Ingobere, Managing Director of the Niger Delta Development Commission, Dr. Samuel Ogbuku, his counterpart in Niger Delta Basin Development Authority, Prince Ebitimi Amgbare, among other party stalwarts, stakeholders and members.

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Udende Leads Massive Tinubu Endorsement in Benue APC Primaries

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By David Torough, Abuja

The Senator representing Benue North East Senatorial District, Senator Emmanuel Memga Udende, on Saturday led party members across the district to massively endorse President Bola Ahmed Tinubu during the APC presidential primary elections.

Addressing supporters at the Ukum Local Government headquarters in Sankera, the Chairman of the Senate Committee on Anti-Corruption and Financial Crimes said President Tinubu’s administration has delivered significant benefits to both Benue State and Nigeria at large.

Senator Udende highlighted ongoing infrastructural development, improvements in the national economy, and the appointment of Benue indigenes into key federal positions as major reasons behind the overwhelming support for the President.

“For the first time in the history of Benue State, we have our own Senator George Akume serving as Secretary to the Government of the Federation (SGF). We also have a Grade A Minister from Benue State, the Chairman of the North Central Development Commission (NCDC), among several other federal appointments. These achievements justify giving President Tinubu another opportunity to continue his people-oriented policies,” Udende stated.

The senator, however, expressed dissatisfaction with the conduct of the immediate past APC National Assembly primaries, alleging that some individuals attempted to manipulate the process by producing results from guest houses and private residences instead of the officially designated council ward headquarters.

According to him, such actions were unacceptable and the purported results would not stand.

The “Ikuen I Ukum” also commended the people of Ukum and the entire Benue North East Senatorial District for turning out in large numbers to vote, assuring them that their trust and support for President Tinubu and the APC would not be in vain.

In his remarks, the member representing Ukum State Constituency in the Benue State House of Assembly, Hon. Engr. Ezra Nyiyongo, urged party faithful to remain united and continue supporting President Bola Ahmed Tinubu ahead of the forthcoming presidential and National Assembly general elections for the progress of Nigeria.
While Senator Udende cast his vote at the Tsaav Council Ward headquarters in Afia, Ukum Local Government Area, Hon. Ezra Nyiyongo participated in the exercise at Melabu in Mbayenge Council Ward.

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