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Tinubu’s Administration Secures $30 Billion in Foreign Investments

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President Bola Tinubu has shared that his administration, in less than two years, has attracted a significant $30 billion in foreign direct investment (FDI) commitments to Nigeria.

Tinubu’s message was conveyed by the National Security Adviser, Nuhu Ribadu, who represented him at the 2024 Comptroller General of Customs (CGC) conference held in Abuja.

Ribadu listed Tinubu’s strategy to transform Nigeria into an attractive investment hub by focusing on policies that promote economic stability and transparency.

“Since taking office, we have worked relentlessly to create an environment where investors feel confident about Nigeria’s future,” Ribadu said on behalf of Tinubu.

“The result is that we have already secured over $30 billion in investment commitments.” This, he pointed out, underscores the administration’s vision to lay a solid economic foundation despite numerous challenges.

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The president’s ambitious economic reforms, including the removal of fuel subsidies and the unification of Nigeria’s exchange rate system, have been focal points of his administration.

These measures, Tinubu noted, are intended to foster an environment that is both sustainable and fair, encouraging businesses to thrive in a transparent framework.

Though the reforms have required adjustments and sacrifices from Nigerian citizens, Tinubu argued that they are vital for the country’s long-term development and resilience.

In addition, Ribadu cited Nigeria’s improved stability and the administration’s success in raising crude oil production to 1.8 million barrels per day, a feat that reflects Tinubu’s resolve to reposition Nigeria as a leader in global oil production.

This output, boosted by strengthened security in oil-producing regions and collaborative efforts with local communities, is one of the steps aimed at maximizing Nigeria’s natural resources for economic growth.

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Tinubu Says His Tough Economic Reforms Are Now Helping Nigeria’s Economy Grow

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President Bola Tinubu has claimed that his government’s economic reforms are beginning to bear fruit. Speaking at the APC National Summit held at the State House banquet hall in Abuja on Thursday, Tinubu defended his administration’s decisions and insisted that the ruling party has not failed Nigerians. “Two years ago, we set out on a journey powered by hope and a strong belief in this country. We made a promise to tackle Nigeria’s problems directly and rebuild the trust of our people,” he said.

The president expressed confidence that the economic policies introduced since May 2023 are taking effect. He noted that the removal of fuel subsidies was a tough but necessary decision meant to steer the country toward a better future. “We took the bold step to end the subsidy, and we did it for the good of the country. Good things don’t come easy,” Tinubu added.

Since taking office, his administration has introduced a wave of economic reforms, including floating the naira and slashing fuel subsidies—moves which both the government and international bodies say were essential to fix Nigeria’s struggling economy.

However, these changes have been deeply felt by everyday Nigerians, many of whom are battling an intense cost-of-living crisis. With inflation soaring and economic growth sluggish, the World Bank estimates that nearly half of Nigeria’s population lived in poverty in 2024. Similarly, the International Monetary Fund (IMF) recently pointed out that while the reforms may be important in the long run, they are yet to make a real difference in the lives of ordinary citizens.


 

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APC Governors Say They Support Tinubu for Second Term and Will Make Sure He Wins in 2027

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The Progressive Governors’ Forum has pledged full support to ensure President Bola Tinubu secures a second term in office. Speaking at the APC National Summit in Abuja, the forum’s chairman and Imo State Governor, Hope Uzodimma, urged his fellow governors to take firm control of politics in their states and work to secure victories for the party across all levels.

Uzodimma emphasized that a united and active effort by APC governors will pave the way for Tinubu’s re-election in 2027. He also acknowledged the public backing Tinubu has received from APC governors in the North, calling it a strong step toward solidifying the president’s position as the party’s next flag bearer.

According to him, APC governors must promote federal government policies and dominate their political spaces to ensure success in the next general elections. Uzodimma closed his remarks by formally calling on the summit to adopt the position of the Progressive Governors’ Forum in endorsing Tinubu for a second term and committing to deliver that mandate.


 

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Dangote Drops Petrol Price Again as New Rates Start Across Nigeria

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Dangote Petroleum Refinery has once again slashed the pump price of petrol across Nigeria, offering some relief to consumers. The new price now falls between N875 and N905 per litre, reflecting a N15 drop. This update was shared on the refinery’s official social media page on Thursday.

According to Dangote, the price cut affects major fuel distributors working with the refinery, including MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy. With this change, Lagos residents will now buy petrol at N875 per litre. Those in the South-South and South-East regions will pay N905, while the South-West sees a new rate of N885.

In the North-West and central parts of the country, it’s N895, and the North-East will also pay N905. Dangote added that their petrol and diesel are not only high-quality but also designed to support engine efficiency and reduce environmental impact.


 

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