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.”
Economy
Naira Hits Record Depreciation Amid Trump’s Tariff Shock

Naira Hits Record Depreciation Amid Trump’s Tariff Shock
Naira hits record depreciation amid Trump’s tariff shock. The Nigerian naira recorded its steepest depreciation against the US dollar on Thursday, falling to ₦1,552.53/$1 at the official market — a drop of ₦21.28 from ₦1,531.25 on Wednesday.
This marks the sharpest single-day loss since March 22, when the currency fell by ₦18.96.
At the parallel market, the naira also weakened, dropping from ₦1,555 to ₦1,560/$1.
The depreciation follows U.S. President Donald Trump’s new tariff measures, which have rattled global markets and sparked concerns over Nigeria’s $10 billion trade ties with the U.S.

Naira Hits Record Depreciation
Despite the slide, the Central Bank of Nigeria reported a Net Foreign Exchange Reserve of $23.11 billion — the highest in over three years.
Economic analysts, including Dr. Muda Yusuf of the CPPE, warned the tariffs could impact Nigeria’s economy and undermine the naira, especially with the end of the African Growth and Opportunity Act (AGOA).
Crime
EFCC Reaffirms Commitment To Economic Growth – Olukoyede

EFCC Reaffirms Commitment To Economic Growth – Olukoyede
EFCC reaffirms commitment to economic growth. The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has reiterated his commitment towards using the anti-corruption fight to stimulate growth in the economy.
He stated this in Abuja on Thursday, April 3, 2025 while receiving the the Managing Director/Chief Executive Officer of Nigerian Export- Import, NEXIM Bank, Mallam Abba Bello who came on a courtesy visit to the corporate headquarters of the EFCC.
While expressing delight at the visit, Olukoyede noted that the mission of the EFCC and that of NEXIM Bank align in the area of stimulation of the country’s economic growth.
“We have shared mandates with your bank as an export-import promoting bank, which is to grow the economy. Doing that, you are promoting the economy and on our part, one of our mandates is to also use the instrumentality of the fight against corruption to grow the economy. So, from that perspective I believe we have a shared mandate”.
The EFCC boss lauded Bello’s leadership skills in steering NEXIM Bank away from insolvency to profit-making entities. “You deserve a round of applause for turning the institution around. To have done that is no joke at all. It’s a major responsibility because you have to deal with both external and internal factors.
Even changing the orientation of the people you met on ground, changing the system, the processes and all of that takes a lot. For you to have achieved that milestone, I think you need to be applauded and also be encouraged to do more”, he said.
While acknowledging that the Commission is not a debt recovery agency, Olukoyede disclosed that the Commission only steps in when debts verge on economic sabotage.
He pointed out that many cases of non-performing loans have underlining fraudulent content and the EFCC would stop at nothing to tackle such cases.
“We are careful of the way we come in, particularly when it comes to the issue of loan recovery. We look at the area of economic sabotage.
When somebody is granted a loan, particularly if the money is from the commonwealth or from investors’ resources in a bank and they divert the money or the money did not go to what it was meant for, obviously that is economic sabotage. More than 90% of the cases of bad loans have underlining fraud”, he said.
Earlier in his remark, Bello commended the EFCC for assisting his bank in handling several cases resulting from “abuse which was occasioned by all kinds of things, technical abuse of the process of lending money to beneficiaries of the bank.
So what we started doing was to see how we can redeem the situation. The EFCC helped us and played a leading role in the recovery of the monies that were given out fraudulently or without following due process”.

Commitment To Economic Growth
The NEXIM boss appealed to the EFCC to continue to assist his bank in the recovery of loans taken by former internal staffers of the bank.
He also sought collaboration with the Commission in the area of fraud prevention, especially “not allowing people to get into fraudulent activities and corruption; stopping those with virtual knowledge to engage in things that are unworthy. The EFCC has done a lot of engagement for those that are in that kind of business.
We can partner with the EFCC either as participants or stopping them from engaging in the fight on the bad side, we would be giving them an option to train and engage in the export value chain,” he said.
Economy
Youths Urge Abiodun To Complete Abandoned Ipokia Polytechnic

Youths Urge Abiodun To Complete Abandoned Ipokia Polytechnic
Youths urge Abiodun to complete abandoned Ipokia polytechnic. Youths in Ipokia, Ogun State, have appealed to Governor Dapo Abiodun to fulfill his promise to complete the abandoned Ogun State Polytechnic project in the area.
The polytechnic, approved in 2017 under former Governor Ibikunle Amosun, was part of plans to upgrade MAPOLY to a university.
Despite partial construction, the project was stalled after Abiodun reversed the upgrade and relocated the polytechnic back to Abeokuta in 2019.

Youths Urge Abiodun
During a peaceful protest on Thursday, youths lamented the dilapidated state of the institution and called on the governor to revive the project.
Community leaders emphasized the potential benefits of the polytechnic for education and local development.
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