Economy
Tinubu Reveals How He Nearly Quit 2023 Presidential Race
Tinubu Reveals How He Nearly Quit 2023 Presidential Race
Tinubu reveals how he nearly quit 2023 presidential race. Mr Tinubu thanked the guests for their presence, payers and contributions to the country’s development.
President Bola Tinubu has said nearly quit the 2023 presidential race. Mr Tinubu stated this at a special Iftar held in his honour at the Presidential Villa on Saturday.
Mr Tinubu thanked guests for their presence, prayers, and contributions to the nation’s development, and appreciated Nigerians for their outpouring of goodwill and prayers as he marked his 73rd birthday.
Reflecting on his political journey, Mr Tinubu recounted a moment of doubt during the 2023 election campaign when he contemplated withdrawing from the race after an encounter with a close relative.
He said, “Those close to me know that the odds were against me. During the campaigns, one of them came to my living room around 3:30 a.m. and said he needed just N50,000 to buy foodstuff for our uncle.
“He told me, ‘The currency is gone because of you. People are jumping over bank counters because there is no cash. Our uncle, a wealthy man, doesn’t even have N10,000 in cash.
What are you running for? I told him, ‘I am running for President, not for you and our uncle.’ I gave him the N50,000. As he walked out, he turned to me and said, ‘I don’t think you will make it.’ I replied, ‘I will make it,’” said Tinubu.
Mr Tinubu stated that his uncle later called to confirm receiving the money but admitted that he had only given the messenger N10,000 and kept the rest.
“I was amazed. At that moment, I almost dropped the idea of running for President. But thanks to Aminu Masari and all of you who encouraged me. When I came to Abuja, Masari told me, ‘I am the chairman of the North-West Group; don’t look back’,” he said.
Mr Tinubu noted that he assumed office during a time of economic uncertainty and had to make immediate, difficult decisions, including removing the fuel subsidy.
“On the day of my inauguration, I had to decide on something not originally in my speech, and that was the fuel subsidy removal,” he said.
Noting that Nigeria had reached a point of no return on the issue, the President said: “The hallmark of a great leader is the ability to make the right decision at the right time.
“That was the day I declared that the subsidy was gone. The following day, I was hounded and thoroughly abused in the media. But I stood firm, knowing it was the right thing to do for our nation’s future.”
Vice President Kashim Shettima lauded the President’s sacrifices, stating that history would remember him as the leader who took on the nation’s most complex challenges.
“Thanks to his boldness, future presidents of Nigeria will not have to wrestle with the same ghosts that haunted past administrations, including fraud-ridden fuel subsidies, an unstable forex market, and the suppression of local government autonomy.
“These were the thorny issues that many before him sidestepped. But Asiwaju did not sidestep history; he came to rewrite it. And in rewriting it, Asiwaju has taken the bullets that many before him simply lacked the courage to face.
Tinubu Reveals How
“But that is the thing about true leadership: it is not for those who seek comfort. It is for those who understand that the path to national greatness is lined with difficult choices,” he said.
Senate President, Godswill Akpabio, praised Mr Tinubu’s ability to forgive and his relentless passion for national development.
Mr Akpabio described the President as a leader who thinks outside the box and as the ‘most audacious president’ in the country’s history.
He said that under Mr Tinubu’s watch, governors were getting more allocation.
“If I were a governor under your administration, I would have been a ‘supernatural governor’ and not an uncommon governor,” he said.
The Deputy Speaker of the House of Representatives, Benjamin Kalu, described Mr Tinubu as a leader who has broken barriers and uplifted future Nigerian politicians.
He noted that the Mr Tinubu had taken a backseat to raising leaders for decades.
“Today, he is at the forefront because Nigeria needs him. In 2019, despite not being from his region, he supported me in my most difficult political moment.
Nigeria needs leaders who rise above tribal considerations, and he has demonstrated that,” he said.
Also, Imo State Governor, Hope Uzodimma, commended Mr Tinubu’s decisive leadership at a time when Nigeria needed stability.
“Only a leader with deep conviction and love for the country could have taken the bold and yet necessary decisions that averted national collapse and now restoring hope and confidence across the federation,” he said.
Commenting, Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijani, shared his personal experience of being appointed by Mr Tinubu despite his past activism.
He said, “Before my appointment, I had never met the President. But after my confirmation, he told me, ‘I have looked at your records and activism, and I am giving you an opportunity to serve.”
The minister recounted a recent meeting at the World Bank, where a senior official described Mr Tinubu as the best reformist leader in Africa today.
Mr Tinubu’s childhood friend, Prof. Shaffideen Amuwo, reminisced about their early years and how divine providence led him to the presidency.
He stated, “Our relationship did not just start in Chicago; we played soccer together as children. While I chose the library, my brother chose politics because he loved to speak.
Today, Allah has shown His greatness by guiding him to lead Nigeria. The city of Chicago, founded by a Black man, has educated the man who now leads the most populous Black nation on earth.
I pray that Allah continues to hold his hand and guide him as he works to save our country.”
Persistent Grid Collapse, Weak Power Supply Worsening Economic Hardship: Oyintiloye
Speaking with journalists on Sunday in Osogbo, Oyintiloye said the situation had continued to deteriorate despite assurances and reforms introduced by authorities.
He described unreliable electricity as a major setback to the federal government’s reforms in the power sector.
He appealed to President Bola Tinubu to urgently intervene, noting that poor power supply is worsening economic hardship across the country.
Oyintiloye said the poor supply has compounded the effects of the current heatwave, making living conditions more difficult for many Nigerians.
The former lawmaker called for the constitution of a panel to investigate recurring national grid collapses and persistent supply challenges despite significant investments.
“It is a terrible situation across Nigeria with persistent poor power supply,” he said.
“Many small-scale businesses and large industrial players are affected, while most homes cannot boast of even three hours of electricity supply daily for domestic use.
“Despite numerous reforms and promises, the national grid continues to collapse. The situation is now compounded by gas supply shortages, weak transmission infrastructure, and chronic underinvestment across the power value chain.
“Nigerians are groaning, and urgent action must be taken by the Minister of Power, Adebayo Adelabu, and his team. The situation cannot continue like this.”
Oyintiloye warned that the situation has already triggered protests in parts of the country and could escalate if not addressed promptly.
“The situation must be quickly addressed before it becomes a national embarrassment. Nigerians need to be informed whether the issue is due to structural failure or sabotage within the power sector,” he said.
Electricity
“This epileptic power supply has led to a series of peaceful protests nationwide. I appeal for the President’s intervention before these protests turn violent.
“Electricity is essential for households and the survival of businesses. Since the end of last year, there has been no stable power supply across the country, despite assurances by those in charge and huge investments in the sector.
“Poor power supply should not be added to the challenges Nigerians are currently facing. The high cost of fuel has also made it difficult for those relying on generators to cope.”
Eid-el-Fitr: NRC Sets To Run Three Lagos–Ibadan Train Trips Monday
Eid-el-Fitr: NRC sets to run three Lagos–Ibadan train trips Monday. He assured passengers of NRC’s continued commitment to safe, reliable, and efficient rail services.
This was contained in a statement issued on Friday in Lagos by NRC chief public relations officer, Callistus Unyimadu.
He said the additional trip was in response to high passenger turnout during the Eid-el-Fitr travel period.
“The extra trip is aimed at easing passenger movement and providing more travel options for commuters returning after the Eid-el-Fitr celebrations.
“Under the schedule, departures from Lagos (Mobolaji Johnson Station, Ebute Metta) will be at 7.45 a.m., 1.40 p.m., and 4.00 p.m.
“From Ibadan (Obafemi Awolowo Station, Moniya), trains will depart at 8.00 a.m., 10.50 a.m., and 4.30 p.m.,” he said.
Mr Unyimadu assured passengers of NRC’s continued commitment to safe, reliable, and efficient rail services.
NRC Sets To Run Three Lagos–Ibadan Train Trips Monday
He advised travellers to arrive early, comply with ticketing and security procedures, and plan their journeys.
“The corporation appreciates the continued patronage of its services and wishes all passengers a safe and pleasant journey,” he added.
UBA, BII Sign Letter Of Intent To Explore Trade Finance Collaboration Across Africa
United Bank for Africa (UK) Limited (“UBA UK”) and British International Investment plc (“BII”), the UK’s development finance institution and impact investor, announced that they have signed a letter of intent to develop trade finance collaboration opportunities.
The proposed initiative aims to expand access to trade and working capital facilities for businesses operating across Africa.
Access to trade finance remains one of the most significant structural constraints on African trade. Businesses, particularly small and medium-sized enterprises, are frequently unable to secure letters of credit, guarantees, and supply chain finance on commercially viable terms, limiting their capacity to export and import competitively. This trade finance gap is estimated by the African Development Bank to be over USD 80 billion annually.
To help close this gap, UBA UK, the London subsidiary of UBA Group, Africa’s Global Bank, will leverage its deep relationships across the Group’s 20-country African network to originate and structure trade finance transactions. While BII, with a mandate to support productive, sustainable, and inclusive growth across Africa, can support transactions that might otherwise fall outside conventional commercial appetite.
“The signing of this letter with BII represents a landmark moment for UBA UK and for the UBA Group’s global ambitions. As the Group’s hub for Trade Operations, UBA UK is uniquely positioned to connect African businesses with the international financial system. Working alongside BII, we can extend that capability further — mobilising capital where it matters most and helping to close the trade finance gap that holds back so much African potential,” said Lok Mishra, Chief Executive Officer, UBA UK
“British International Investment is committed to catalysing private sector growth across Africa, and trade finance is a critical enabler of that growth. We welcome the opportunity to collaborate with UBA Group, whose pan-African network and deep institutional relationships can help advance our ambition to expand access to trade and working capital finance, particularly in frontier markets,” Chris Chijiuitomi, Managing Director and Head of Africa
The announcement builds on growing momentum around intra-African trade facilitated by the African Continental Free Trade Area (AfCFTA), which entered into force in 2021 and represents one of the world’s most significant trade integration initiatives. Both institutions have identified the operationalisation of AfCFTA as a priority catalyst for a trade finance facility, with UBA UK’s network across major AfCFTA economies offering a basis for supporting businesses navigating the emerging continental market.
This also complements the UK Government’s broader engagement with African economic development, including commitments made at the UK-Africa Investment Summit, and reinforces the City of London’s role as a leading international finance centre for Africa-focused capital mobilisation.
Future cooperation remains subject to further assessment, due diligence and the completion of internal approvals by both parties.
ABOUT UNITED BANK FOR AFRICA (UK) LIMITED
UBA UK is the London-based subsidiary of United Bank for Africa Plc, one of Africa’s leading financial institutions with operations across 20 African countries, the United Kingdom, the United States of America, France, and the United Arab Emirates. UBA UK serves as the Group’s hub for Trade Operations, providing a comprehensive suite of trade finance, treasury, and correspondent banking services to institutional and corporate clients worldwide.
UBA
ABOUT UNITED BANK FOR AFRICA GROUP
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.
ABOUT BRITISH INTERNATIONAL INVESTMENT
British International Investment is the UK’s development finance institution and impact investor. The organisation invests in businesses in developing countries to improve people’s lives and help protect the planet. BII’s work targets the underlying causes of poverty and the climate crisis, helping countries break free from aid dependency for good.
Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women’s economic development.
The company has investments in over 1,600 businesses across 66 countries and total net assets of £9.87 billion. For more information, visit: www.bii.co.uk | watch here. Follow British International Investment on LinkedIn, Bluesky and X.
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