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NEWS

Ministers Weren’t Sacked Presidency Clarifies Tinubu’s Cabinets.

The Nigerian presidency has moved swiftly to clarify President Bola Tinubu’s cabinet reshuffle, which saw five ministers exit and seven new ones appointed. According to Special Adviser on Information and Strategy, Bayo Onanuga, the departing ministers were not sacked but rather discharged from their duties. The cabinet reshuffle, announced on Wednesday, affected Uju-Ken Ohanenye (Women Affairs), Lola Ade-John (Tourism), Tahir Mamman (Education), Abdullahi Gwarzo (Minister of State for Housing and Urban Development), and Jamila Ibrahim (Youth Development). However, Onanuga said that the term “sacked” does not accurately describe their departure. In addition to several appointments, President Tinubu reassigned 10 ministers to new portfolios The Nigerian presidency has clarified the recent cabinet reshuffle by President Bola Tinubu, which involved the exit of five ministers and the appointment of seven new ones. Special Adviser on Information and Strategy, Bayo Onanuga, emphasized that the ministers who left were not “sacked” but were instead relieved of their duties. The reshuffle, announced on Wednesday, affected Uju-Ken Ohanenye (Women Affairs), Lola Ade-John (Tourism), Tahir Mamman (Education), Abdullahi Gwarzo (Minister of State for Housing and Urban Development), and Jamila Ibrahim (Youth Development). Onanuga stated that referring to their departure as being “sacked” is inaccurate. In addition to these changes, President Tinubu reassigned 10 other ministers to new portfolios.

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President Tinubu
NEWS

FEC Takes Key Decision as Tinubu Announces Second Cabinet

The Federal Executive Council (FEC) has approved the merger of the Ministry of Tourism with the Ministry of Culture and Creative Economy. According to President Bola Tinubu’s special adviser on information and strategy, the decision was made during the FEC meeting held on Wednesday, October 23, in Abuja, involving the president’s second cabinet. President Tinubu’s second cabinet is composed of 40 ministers, whom he appointed after the 2023 elections. The newly merged Ministry of Arts, Culture, and Creative Economy is tasked with a broad range of responsibilities, including preserving Nigeria’s traditional customs, languages, art, and artifacts. Meanwhile, the tourism ministry is expected to identify, develop, preserve, and promote Nigeria’s tourism resources.

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Hdgj
NEWS

IMF Lowers Nigeria’s Growth Forecast Due to Oil Production and Flooding

The International Monetary Fund (IMF) has reduced its growth forecast for Nigeria, citing low oil production, severe flooding, and inflation as significant challenges to the nation’s economy. In its latest World Economic Outlook (WEO), the IMF revised Nigeria’s projected growth rate for 2024 to 2.9%, down from the previous estimate of 3.3%. The downgrade stems from various disruptions in oil production, agricultural setbacks due to flooding, and rising inflation. Additionally, global growth projections for 2025 are expected to hold steady at 3.2%, reflecting a 0.1% decline from earlier forecasts. For Nigeria, the 2025 growth rate is anticipated to rise slightly to 3.1%. The IMF highlighted that Nigeria’s inflation remains a significant issue, projecting it to stabilize at 25% in 2025 and drop to 14% by 2029. Despite these challenges, the government’s recent reforms have helped stabilize some parts of the economy. The country also continues to grapple with declining oil production, primarily due to pipeline vandalism and theft, which have hindered revenue generation. The IMF’s assessment underscores the urgent need for Nigeria to address both natural and man-made challenges affecting its economic stability.

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Hggj
Technology

How to sell your crypto in Nigeria Despite the restrictions.

If you’re in Nigeria and want to sell USDT (Tether) for Naira despite the Binance restrictions, there are several alternative methods and platforms you can use: Even though Binance may have some restrictions in Nigeria, you can still access P2P platforms to sell your USDT directly to buyers. These platforms facilitate direct exchanges between users, often with escrow protection to ensure safe transactions. Some Nigerian crypto exchanges may allow you to sell USDT for Naira: You can also engage in over-the-counter (OTC) trading, where you negotiate directly with buyers. Be cautious and ensure the legitimacy of the buyer by using escrow services or trusted intermediaries. Some crypto wallet apps in Nigeria offer an easy way to sell USDT for Naira. These apps connect you with buyers or facilitate direct sales: Steps for Selling on P2P Platforms Always be cautious and ensure you are using platforms with proper security measures.

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Gv
NEWS

Insecurity in Nigeria today is so bad Obasanjo voice out.

Former Nigerian President Olusegun Obasanjo has raised concerns about the urgent need to address the growing insecurity in various parts of the country. During a visit to Bauchi State, where he commissioned several road projects completed by Governor Bala Mohammed’s administration, Obasanjo emphasized that Nigeria must act quickly to resolve the worsening security situation. He lamented how different the situation is today compared to his time in office, stressing the need for immediate solutions. Obasanjo believes that the key to tackling insecurity lies in community policing, where residents actively monitor and report potential security threats. He argued that community policing is more effective because “everyone knows their neighbors,” making it easier to identify suspicious individuals and prevent crimes. During his visit to the Bauchi Emir’s Palace, he also urged traditional rulers to encourage community policing efforts within their regions. In a more personal revelation, Obasanjo shared how he discovered that he was partially deaf during a medical check-up abroad. This led him to establish the Olusegun Obasanjo Foundation, which focuses on providing hearing aids and treatments to Nigerians suffering from hearing loss. He announced plans to distribute hearing aids to over 10,000 indigent individuals across the Northeast, starting with 2,000 beneficiaries in Bauchi. On the broader issues of poverty and leadership, Obasanjo stated that the poverty experienced by African nations, including Nigeria, stems from bad governance, not a lack of resources. He expressed optimism that with unity and collective effort, the country could overcome its challenges. In response, Governor Bala Mohammed highlighted his administration’s commitment to infrastructure development. He pointed out that the recently commissioned road projects were part of a strategic plan aimed at improving the lives of Bauchi residents, regardless of the political landscape. This exchange underscores the pressing need for better security measures and infrastructure development, both seen as crucial for Nigeria’s progress.

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Gbajabiamila
Politics

Economic Challenges: Nigerians Will Soon Reap the Benefits of Tinubu’s Efforts – Gbajabiamila Assures

Femi Gbajabiamila, the Chief of Staff to President Bola Tinubu, has assured Nigerians that they will soon begin to experience the positive outcomes of the president’s hard work and reforms. Addressing reporters upon Tinubu’s return from a two-week overseas trip, Gbajabiamila expressed confidence that the efforts of the president would soon bear fruit, promising that the nation would see the results of his administration’s policies in the near future. He emphasized that despite the current hardships, relief and progress were on the horizon for the country. According to Gbajabiamila, Tinubu’s brief time abroad allowed him to rest and recharge after months of intense work at home. He explained that the president’s recent trip was essential, as Tinubu had been engaged in rigorous efforts to implement policies aimed at improving the nation’s economy, creating jobs, and addressing other pressing challenges. Now well-rested, Tinubu is prepared to continue his work, driving Nigeria toward sustainable development and progress. LMSINT MEDIA reports that President Tinubu returned to Nigeria on Saturday after a two-week stay abroad. Gbajabiamila spoke to the press at the Nnamdi Azikiwe International Airport in Abuja, where he emphasized the importance of patience among Nigerians. “The kind of work President Tinubu has been engaged in for the past year and a half demands rest, and he has taken that much-needed break. Now that he’s back, fully rejuvenated, he is ready to pick up where he left off,” said Gbajabiamila. He further explained that Tinubu’s administration is focused on ensuring that the right policies are in place, and that they are implemented effectively. “The president is committed to guiding the country in the right direction. We are confident that Nigerians will soon begin to witness the positive results of his hard work.” Gbajabiamila urged Nigerians to remain patient and hopeful, noting that the administration is committed to delivering on its promises under the “Renewed Hope” agenda. He reiterated that Tinubu’s government is working diligently to improve the lives of all citizens and ensure a brighter future for Nigeria. “In due time, the efforts of President Tinubu and his team will yield significant results. We are all expectant and hopeful. The president is back, and he’s ready to continue the good work he’s been doing for the country,” he concluded.

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NEWS

According to the World Bank, Nigeria needs maintain the current government changes for 10-15 years to have an impact.

The World Bank’s assertion that Nigeria must sustain its economic reforms for 10 to 15 years is a clear signal of the long-term commitment required to address the country’s structural challenges. According to the World Bank, these reforms are critical for transforming Nigeria’s economy into a more resilient and competitive one, both within Africa and globally.Currently, Nigeria faces high inflation, driven in part by the removal of fuel subsidies, which has sharply increased transportation and production costs. The unification of the foreign exchange market has further compounded the issue, leading to currency volatility and raising the cost of goods and services. These issues have made life more expensive for everyday Nigerians and present significant challenges for businesses and policymakers alike .However, despite these hardships, the World Bank argues that the reforms are laying the groundwork for long-term economic stability. Without these measures, Nigeria’s economy could continue to lag behind its peers in sub-Saharan Africa, as seen in the current economic disparities. For example, while Nigeria’s growth is projected at 3.3% in 2024, the broader West African region is expected to grow faster, at around 4.4%, driven by stronger economies like Benin and Côte d’Ivoire .The World Bank believes that if Nigeria maintains its reform path, the country could unlock its potential to become a significant engine of growth in the region. These reforms would foster a more productive private sector, create better jobs, and ultimately improve living standards. Yet, this is a long-term vision, and the bank stresses that it requires consistent implementation over the next decade or more to bear fruit .In summary, while the immediate effects of Nigeria’s economic reforms might be tough, the World Bank urges perseverance, as sustained changes could yield transformative benefits for the country’s economy and society.

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