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Tinubu: Nigeria Averted Bankruptcy Through Swift Actions

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President Bola Tinubu articulated on Thursday the rationale behind his administration’s economic reforms, saying the primary motive was protecting the interests of future generations.

The President said this at the State House in Abuja while receiving a delegation of former National Assembly colleagues from the aborted Third Republic, during which he served as a Senator representing Lagos West.

“For 50 years, Nigeria was spending money of generations yet unborn and servicing the West coast of our subregion with fuel. It was getting difficult to plan for our children’s future,” Tinubu was quoted to have said in a statement by his media aide, Bayo Onanuga.

He highlighted the challenges faced at the beginning of his administration, especially economic and social issues, and expressed his gratitude for the delegation’s support in addressing these difficulties.

“We faced serious headwinds when I took over, very challenging times. Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse.  President Tinubu declared that the administration had been able to stem the tide and expressed appreciation to Nigerians for their collective support in turning things around.

“Today, we are sitting pretty on a good foundation. We have reversed the problem; the Exchange rate is stabilising. Food prices are coming down, especially during Ramadan. We will have light at the end of the tunnel.”

He said firm adherence to democratic tenets is the best route to economic, social, and political development.

“I am happy that you are holding to your belief in democracy. I thank you for keeping faith and remembering how we started. Some people missed the ball.   “Some leadership failed, but we kept the faith with our democratic beliefs and freedom and the right to aspire to the highest office in the land. I am benefitting from it.”

Senator Emmanuel Chiedoziem Nwaka, who spoke on behalf of the group, expressed his delight at some of the programmes that the Tinubu administration had implemented, especially the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP) and at what the two organisations were offering Nigerians.

“I appreciate you for what you are giving to students because the student population is the largest demographic in the country. I’ve spoken with many of them, and many have benefited from it.

“And the next one is the CREDICORP. That’s a major way of fighting corruption. You see a young man, you come out of school, you want to buy a car, you have to put down cash, you want to buy a house, and you are not married, but with the CREDICORP, you can get things done. I’m following their activities; we are delighted,” he said.

Other members of the delegation were Sen. Bako Aufara Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Hon. Amina Aliyu, High Chief Obi Anoliefo and Hon. Eze Nwauwa.

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Ogun, NNPC Partner to Revive OKLNG as $7bn Port, Marine Economy Project Takes Shape

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Ogun State and the Nigerian National Petroleum Company Limited (NNPC) have opened discussions on the revival of the long-delayed Olokola Liquefied Natural Gas (OKLNG) project in Ogun Waterside, adding a major energy component to the emerging $7 billion maritime and industrial development taking shape along the state’s coastline.

The development comes barely a week after the Ogun State Government signed Memoranda of Understanding with global ports and logistics operator, DP World, for the development of the Gateway Deep Sea Port and the 10,000-hectare Ogun State Blue Marine Special Economic Zone.

The DP World agreements, signed in Paris in the presence of President Bola Ahmed Tinubu, are expected to attract more than $7 billion in initial investment and create over 50,000 direct jobs. The Gateway Deep Sea Port is planned with a four-kilometre berth and an 18-metre draft, while the adjoining economic zone is designed to support manufacturing, processing, logistics and export-oriented industries. (Channels Television)

Receiving officials of NNPC in Abeokuta on Wednesday, Governor Dapo Abiodun said the renewed interest in the LNG project would further strengthen Ogun’s emergence as a major industrial and energy hub.

“Last Wednesday, we signed an MoU on the Deep Sea Port, and today we have the NNPC team here discussing the activation of the LNG plant,” Abiodun said.

The Governor said the proposed LNG facility, which had been on the drawing board for more than three decades, could provide a major energy base for industries within the emerging coastal economic corridor and contribute to meeting the energy needs of the wider South-West.

He described the revival of the project as particularly significant coming immediately after the agreement with DP World, noting that the port, marine economy, industrial zone and LNG project could collectively create an integrated ecosystem for energy, manufacturing, maritime trade and logistics.

“They have come to discuss with us the LNG plant that was originally designed and called OKLNG, which was meant to be situated on our coastline. Now, they have brought the project back to life,” the Governor said.

According to Abiodun, discussions with NNPC focused on land acquisition, incentives and other requirements necessary to facilitate the take-off of the project, with the state government committing to provide the necessary cooperation and guarantees.

“They will pay for land in the Economic Zone, and we will be giving them all the cooperation that this project deserves. We will give them all the assistance and guarantees,” he said.

The Governor said the project could generate substantial employment and multiplier effects, citing the NNPC facility in Bonny, Rivers State, where he said about 14,000 people are employed.

He added that the Ogun facility could supply gas to industries within the economic zone as well as businesses and communities across Ogun and the wider South-West.

The renewed push for OKLNG adds an important energy dimension to the coastal investment corridor being developed around Ogun Waterside. The Federal Government had, at the Paris signing ceremony, identified the OK LNG project as part of the broader strategic corridor linking maritime infrastructure, industry, energy and trade. (State House Abuja)

Under the emerging development framework, the Gateway Deep Sea Port would provide maritime access for the movement of raw materials, equipment and finished products; the Blue Marine Special Economic Zone would provide the industrial and logistics platform; while the LNG project could strengthen the energy supply required to support gas-based industries and other businesses.

President Tinubu had described the integration of the port with the economic zone as an industrial ecosystem, while noting that the emerging corridor would connect with the OK LNG project and other strategic infrastructure. (State House Abuja)

Abiodun said DP World’s global experience in developing ports and integrated economic zones would be important to the realisation of the coastal development, noting that the company operates major port and economic-zone facilities around the world.

He explained that the deep sea port was being developed under a Public-Private Partnership framework, with private investors providing the funding while the Federal Government serves as guarantor.

On the LNG project, NNPC Group Chief Financial Officer, Mr Adedapo Segun, said the company was undertaking a comprehensive review of the challenges that stalled the project in the past, with the objective of finding lasting solutions and resuscitating it.

“We are here to engage with the government of Ogun State on the project we are looking to site along the coastline of the state,” Segun said.

Also speaking, NNPC Executive Vice President, Gas, Power and New Energy, Mr Lekan Ogunleye, disclosed that the company would require approximately 1,728 hectares for the LNG plants, utilities, storage facilities and associated infrastructure.

He said the project would also require about 2.5 kilometres of dedicated Atlantic frontage to support marine traffic and safety requirements for up to three LNG jetties.

Ogunleye congratulated the people of Ogun State on the proposed project, saying its successful implementation would have a significant impact on the economic fortunes of the state.

For Ogun, the simultaneous movement on the OKLNG project and the DP World-backed port and Blue Marine Special Economic Zone represents the development of complementary infrastructure around the same coastal corridor—linking energy supply with maritime access, industrial production, logistics and export markets.

The development also adds to the wider infrastructure network planned for the area, including the Ogun section of the Lagos-Calabar Coastal Highway, which the Presidency said would provide a critical connection between the port, economic zone, Lagos, the Nigerian hinterland and wider African markets. (State House Abuja)

The emerging Ogun Waterside corridor therefore moves beyond the development of an individual port or LNG facility, with the projects collectively aimed at creating an integrated platform for energy, maritime commerce, manufacturing, logistics and international trade.

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Urgent 10k Promise: 3 Die, Several Injured In Govt House Stampede

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At least three people have been confirmed dead, while several others were injured following a stampede at the Niger State Government House in Minna.

 

The incident reportedly occurred on Tuesday night when a crowd gathered at the Government House. The injured victims are currently receiving treatment at the General Hospital, Minna.

According to reports, the gathering was linked to efforts by government officials to engage youths who were reportedly planning a protest over the recent deaths of 37 artisanal miners in the state.

Among those confirmed dead were a woman identified as Dije and her daughter, Hurairat, both internally displaced persons (IDPs) from Allawa community in Shiroro Local Government Area.

Sources said Dije, who had been living with her husband in Gurmana, was visiting her daughter when they heard reports that money would be distributed at the Government House. The pair subsequently joined the crowd.

An IDP, Mallam Musa Allawa, told journalists that the mother and daughter would be buried today

Some government appointees had earlier posted on social media that youths gathered at the Government House to show solidarity with Governor Mohammed Umaru Bago.

A government source, however, said more people, including women, later trooped to the venue after hearing reports that the governor would distribute N10,000 to those present.

When contacted, the Chief Press Secretary to the Governor, Bologi Ibrahim, said the state government would issue an official statement on the incident.

The spokesperson of the Niger State Police Command, SP Wasiu Abiodun, also said he would verify the development and provide further details, report said

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Workers Fix Oct 2nd To Begin Strike Over Fuel Price Hike

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Nigerian public servants under the Joint National Public Service Negotiating Council (JNPSNC) have reaffirmed plans to embark on a three-day warning strike from October 2 if the Federal Government fails to address their demands over the rising cost of petrol, wage award and negotiations for a new national minimum wage.

 

The council, comprising eight public sector unions, gave the Federal Government until September 30 to reduce the price of Premium Motor Spirit (PMS) to ₦500 per litre, approve a wage award and begin negotiations for a new national minimum wage of not less than ₦500,000 from 2027.

The JNPSNC said it had mobilised public servants nationwide for the warning strike if the Federal Government failed to address the issues raised in its letter to President Bola Ahmed Tinubu.

The council had, on September 21, written to Tinubu demanding a reduction in petrol prices, an immediate wage award and the commencement of negotiations for a new national minimum wage, among other measures.

In a statement issued on Tuesday by the National Secretary of the JNPSNC and General Secretary of the Nigeria Civil Service Union, Gbenga Olowoyo, the council said its September 30 deadline remained sacrosanct.

Olowoyo said the concerns of Nigerian workers could no longer be ignored, warning that failure to address the issues would lead to the commencement of the three-day warning strike from Friday, October 2.

He said, “The three critical issues requiring urgent attention are as follows: reduction of fuel price to ₦500 per litre. The Federal Government should take urgent steps to bring down the price of Premium Motor Spirit (PMS) to ₦500 per litre.

“This can be achieved through the provision of an intervention fund to address landing costs and support oil and gas operators.

“It is equally important for the Federal Government to ensure the sale of crude oil to the Dangote Refinery and operators of modular refineries at appropriate terms to facilitate increased domestic refining and help bring down the price of petroleum products.

“The current price of PMS, ranging from ₦1,450 to ₦2,000 and, in some locations outside major communities and cities, as high as ₦2,500 per litre, is unacceptable to Nigerian workers.”

“The council said the high cost of petrol had placed severe pressure on workers, their dependants and the wider population.

“The council maintains that the economic hardship occasioned by the high cost of fuel is placing the survival of Nigerian workers, their dependants and the general populace under severe pressure, making it increasingly difficult for Nigerians to live normal and dignified lives.

On the demand for a wage award, the council said, “The Federal Government should urgently approve a wage award for Nigerian workers to cushion the effects of the prevailing harsh economic conditions being experienced by workers, their dependants, and vulnerable Nigerians.”

It added that such intervention would support public servants to remain productive despite the economic pressures.

“The council believes that urgent action on this demand will further enable public servants to consolidate their loyalty, commitment and productivity within the public service ecosystem,” it said.

The workers also called on the Federal Government to urgently constitute a tripartite committee to begin negotiations for a new national minimum wage ahead of 2027.

“The Federal Government should urgently establish a tripartite committee to commence and facilitate negotiations for the new national minimum wage expected to become due in 2027,” the council said.

“The Nigerian workers’ demand for the immediate constitution of the committee is informed by the need to avoid any administrative or procedural delay that could affect the implementation of the new National Minimum Wage once it is eventually negotiated and passed into law by the National Assembly.”

The council said the Federal Government’s response before September 30 would determine whether the planned industrial action would go ahead.

“Consequently, the council states that failure by the Federal Government to take the necessary steps to address these issues on or before 30th September 2026 will leave Nigerian workers with no option but to commence a three-day warning strike, with effect from Friday, 2nd October 2026, to press home their demands,” it said.

The council further urged the President to use his Independence Day address to respond to the issues raised by the workers.

“It is imperative to state clearly that the Independence Day address of the President of the Federal Republic of Nigeria should adequately address these critical issues,” the council said.

It warned that failure to address the demands would deepen dissatisfaction among workers and other Nigerians affected by the economic situation.

“Failure to address the concerns raised, according to the Council, will attract the displeasure of Nigerian workers and their dependants, as well as other vulnerable Nigerians who continue to bear the brunt of the prevailing economic hardship,” it said.

The JNPSNC comprises the Nigerian Civil Service Union; Medical and Health Workers Union; Association of Senior Civil Servants of Nigeria; National Association of Nigerian Nurses and Midwives; Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Employees; Nigeria Union of Public Service, Reportorial, Secretarial, Data Processors and Allied Workers; National Union of Printing, Publishing and Paper Products Workers; and National Union of Agriculture and Allied Employees.

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