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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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FG Issues 6 Fresh Fuel Import Licenses 

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The Nigerian government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, has resumed issuance of petrol import licenses to petroleum marketers. 

 

According to report, the licenses were issued to six petroleum marketers expected to import around 720,000 metric tons of Premium Motor Spirit (petrol).

The report says beneficiaries are major oil marketers such as NIPCO, AA Rano, Matrix, Shafa, Pinnacle, and Bono.

NIPCO is expected to import 120,000 metric tons; AA Rano, 150,000 MT; Matrix, 150,000 MT; Shafa, 120,000 MT; Pinnacle, 120,000 MT; and Bono, 60,000 MT, totaling 720,000 MT of petrol imports.

Although the NMDPRA officially stated the reason for the fresh licenses, Dangote Refinery has reiterated its capacity to meet local fuel consumption demand,while NMDPRA’s recent industrial data showed that the 650,000-barrel-per-day refinery supplied 90 percent of the country’s daily consumption.

NMDPRA’s recent decision toward petrol imports has stirred concerns among stakeholders.

The development comes barely a week after President Bola Ahmed Tinubu appointed Rabiu Abdullahi Umar as Chief Executive Officer of NMDPRA.

President Tinubu had sacked Saidu Mohammed as CEO of NMDPRA while he was on official duty in Germany.

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2027: Atiku Picks ADC’s N90m Nomination Form

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Former Vice President and chieftain of the African Democratic Congress, ADC, Atiku Abubakar has officially obtained his payment receipt for purchase of the party’s presidential election nomination form ahead of the 2027 general elections.

 

The payment for the N90 million nomination form was made on May 8, 2026.

The ADC disclosed this in a post on its official X handle on Saturday.

The post read: “A New Chapter in Nigeria’s Democratic Journey:

“H.E. Atiku Abubakar, GCON, has officially received his payment receipt to contest under the platform of the African Democratic Congress (ADC) ahead of the 2027 Presidential Election.

“This development marks another significant moment in the growing movement for national renewal, democratic inclusion, and people-driven leadership within the ADC.

“As Nigerians continue to seek credible alternatives, the ADC remains committed to providing a strong platform built on unity, competence, economic recovery, security and national progress.

“The formal presentation of nomination forms is expected on Monday at the ADC National Secretariat, Abuja.

“The movement is growing. Hope is rising. Expect more.”

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Consensus: Senator Quits APC For PDP 

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Senator representing Gombe South Senatorial District, Siyako Anthony Yaro, has returned to the Peoples Democratic Party (PDP) after losing the All Progressives Congress (APC) senatorial ticket ahead of the 2027 general elections.

 

Yaro announced his defection in a statement issued to journalists, saying the decision was reached after extensive consultations with political associates, community leaders and supporters across Gombe South.

The lawmaker described the PDP as the political platform that first believed in the collective aspirations of the people of the district and gave him the opportunity to pursue their development agenda.

“This decision was not made lightly. But the PDP remains the party that first believed in our collective dream for a greater Gombe South, a dream of better roads, functional schools, accessible healthcare, and empowered youths and women,” he said.

The senator stressed that his return to the PDP should not be viewed as political desperation or inconsistency, but as a demonstration of responsibility and commitment to the people he represents.

“To my supporters and constituents, I ask that you see this return not as a sign of confusion, but as an act of courage and accountability. My loyalty has always been, and will always be, to the people first,” he stated.

Yaro thanked his supporters for their loyalty and continued support, noting that their encouragement had remained a major source of strength throughout his political career.

He also declared his readiness to continue the political struggle for the people of Gombe South, insisting that he remained committed to defending their interests at all times.

“I am ready to run. I am ready to win. I am ready to continue defending your interests with every breath in my body,” the senator declared.

The lawmaker further urged residents of the district to remain united and focused, saying the future of Gombe South should be determined by the will of its people rather than political interests.

“Let us move forward together. Let us prove that the people of Gombe South are not pawns in any political chess game; we are the architects of our own destiny,” he added.

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