#Wale Tinubu

[tracknews1]

HM Wale Edun Charts Path From Macro Economic Stability to Growth at 30th Nigeria Economic Summit

At Tuesday’s 30th Nigeria Economic Summit, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, presented a roadmap towards ensuring Nigeria’s macroeconomic stability and growth under President Bola Tinubu’s administration. The summit, themed “Collaborative Action for Growth, Competitiveness, and Stability,” gathered prominent leaders from public and private…

[morganablenewsmedia]

Dangote Will Only Sell Petrol To NNPC — FG

Dangote Will Only Sell Petrol To NNPC — FG Sales And Distribution Commence Today Federal Government of Nigeria, through the Minister of Finance and Coordination Minister of the Economy, Wale Edun, revealed on Friday that the distribution of Premium Motor Spirit (petrol) will start on Sunday. This disclosure was made by the Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch…

[goldmynetv]

FG spent N3.6 trillion on fuel subsidy in 2023, projects N5.4 trillion in 2024 - Wale Edun

The Federal government said fuel subsidy is projected to gulp about N5.4 trillion in 2024 as against the N3.6 trillion budgeted for the same intervention in 2023. This is contained in a draft copy report of the Accelerated Stabilization and Advancement Plan (ASAP) presented to President Tinubu by the finance minister, Wale Edun, on Tuesday. The report showed that the estimated expenditure on…

[akeliciousmedia]

Reps to Tinubu: Unfreeze NSIPA Accounts, Settle N-Power Stipends in 72 Hours

The House of Representatives has called on President Bola Tinubu to direct Wale Edun, Minister of Finance, to unfreeze the accounts of the National Social Investment Programmes Agency (NSIPA) within 72 hours. The resolution, adopted during plenary on Tuesday, followed a motion sponsored by Deputy Speaker Benjamin Kalu and 20 other lawmakers. The House urged the immediate release of funds to…

[ejesgistnews]

Tinubu's Bold Reforms Spark Hardship but Promise Long-Term Gains — Finance Minister Wale Edun. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has attributed the economic challenges facing Nigerians under President Bola Tinubu's administration to the delayed implementation of critical reforms by past governments. Speaking on Friday in Abuja at the launch of the Federal Civil Service Policies and Guidelines on Rewards and Recognition; Policy and Guidelines/Incentives and Consequences; Management Policy and Guidelines, Edun emphasized that the economic hardships currently being experienced stem from years of inaction. NIMC Gives Reasons Why All Nigerians Must Pay for New National ID Cards He noted that previous administrations lacked the courage to implement necessary reforms, leaving Nigerians to bear the brunt of overdue policy adjustments. Reforms and Their Impact President Bola Tinubu, in his inaugural speech on May 29, 2023, announced the removal of the petroleum subsidy. This decision led to a sharp increase in fuel prices, rising from ₦195 per litre to the current ₦1,100. Edun described the subsidy removal as a bold but overdue step, stating that it was vital for economic recovery despite the discomfort it has caused. BREAKING: Armed Herdsmen Resume Attacks On Enugu Community, Kill Three Farmers, Injure Others He remarked: "After 18 months of bold and necessary reforms implemented by Mr. President, the country has changed. Yes, these reforms caused pain, discomfort, and an increased cost of living, but the successes and gains are beginning to materialize." Edun highlighted that market-based foreign exchange pricing and subsidy removal had already yielded financial benefits for federal, state, and local governments. "Subsidies accounted for 5% of GDP, approximately $20 billion, which could now be redirected into infrastructure, health, education, and social services," Edun explained. He stressed that these funds are already flowing into government coffers to address key developmental needs. Civil Service Reforms Launched The event also served as an opportunity to celebrate the strides made in civil service reform under Folasade Yemi-Esan, the Head of Civil Service of the Federation (HCSF). Edun lauded Walson-Jack for her leadership in introducing transformative policies aimed at enhancing public service efficiency. He described the policies as pivotal to achieving President Tinubu’s broader economic goals of reducing inflation, creating jobs, and lifting Nigerians out of poverty. Head of Service Speaks on Public Service Transformation In her remarks, the Head of Service, Yemi-Esan, expressed her commitment to redefining public service delivery in Nigeria. She described the newly launched policies as tools designed to embed excellence, accountability, and integrity at the core of government operations. "Today’s event is part of a collective journey to transform the civil service into a globally competitive and responsive institution, aligned with the aspirations of Nigerians," she said. She encouraged newly promoted directors to view themselves as role models and urged all civil servants to strive for excellence. "The recognition of newly promoted directors today underscores our dedication to rewarding excellence and providing clear pathways for professional growth," Yemi-Esan added.

[oelnet]

Nigeria : Bola Tinubu aux anges ; 3600 milliards bientôt dans les caisses de l’État grâce à…

Au Nigeria, le président Bola Tinubu peut être aux anges puisque les caisses de l’État pourraient bientôt recevoir l’importante somme de 3600 milliards. Mais d’où va provenir cette somme ? Concrètement, le gouvernement nigérian vient d’approuver un ambitieux plan d’emprunt extérieur de 2,2 milliards de dollars (3600 milliards de nairas). C’est ce qu’a annoncé Wale Edun, ministre des Finances et…

[jayessentialsblog]

Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has stated that the current administration's reforms in the forex and oil and gas sectors will not be reversed

Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, has pledged to carry out the recent administration’s reforms in the oil and gas and foreign exchange industries. He declared that Nigeria now has deregulated oil market pricing and a market-based foreign exchange rate, two long-overdue changes being carried out by President Tinubu. Edun thinks that cooperation…

[gurutrends]

Striking SSANU, NASU Ask Wale Edun To Pay Withheld Salaries

Two striking university unions in Nigeria have asked the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to pay their four months’ withheld salaries, following an approval of the payment by President Bola Tinubu. The striking unions ruled out the possibility of any meeting or negotiation with the Federal Government, insisting that the Ministry of Finance “do the needful”…

[smlblogtv]

Economic Reform: Edun, Tinubu Meet Afreximbank Boss Oramah

Finance Minister, Wale Edun and Oando Group President, Wale Tinubu recently held a high-level meeting with Afreximbank President, Prof. Benedict Oramah during the World Bank-IMF Annual Meetings in Washington, D.C. The session focused on securing funding to advance President Bola Tinubu’s economic reforms, specifically aimed at strengthening Nigeria’s energy and trade sectors. During the meeting,…

[tracknews1]

The Federal Government is set to initiate cash transfers aimed at assisting 20 million poor Nigerians.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has stated that the rise in Nigeria’s revenue for the 2024 fiscal year is being thoughtfully distributed across several social intervention programs designed to enhance the quality of life for citizens and tackle urgent societal challenges. The minister announced that the social investment program aims to benefit 60…

[morganablenewsmedia]

Federal Government, Dangote Agree On Petrol Sale

Federal Government, Dangote Agree On Petrol Sale Agreement reached On September Petrol Sale Federal Government inaugurated committee has reached an agreement with Dangote Petroleum Refinery to supply crude oil to local refineries. It is understood that the committee was set up to oversee the implementation and sale of crude oil to local refineries in Nigeria which is expected to commence next…

[lagmennet]

Trinidad Shortlists Final Bidders for Petrotrin Refinery

Trinidad’s government has announced three final finalists for the state-owned Petrotrin refinery. According to Naija News, Nigeria’s Oando Plc, owned by Wale Tinubu, President Bola Ahmed Tinubu’s nephew, was one of the three final bids for the refinery takeover. During a recent national budget presentation on Monday, Trinidad’s Finance Minister, Colm Imbert, named the bids. Petrotrin is a defunct…

[akeliciousmedia]

Wale Edun Calls Fuel Subsidy Removal a Key Step Toward Stabilizing Nigeria's Economy

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has said that the initiative of President Bola Tinubu stopped the country from bleeding (referring to stoppage of imported fuel) which he said was costing five per cent of the GDP of the country every year. The Minister was speaking on Monday in Bauchi during the opening ceremony of the National Council on Finance and…

[ejesgistnews]

Nigeria's public debt stock has escalated to N134.3 trillion ($91.3 billion) as of the end of the second quarter of 2024. This marks a significant increase of 10.35% from N121.7 trillion ($91.5 billion) recorded in the first quarter, as reported by the Debt Management Office (DMO). An exclusive document from the Ministry of Finance obtained by Nairametrics reveals that this rise is primarily attributed to the devaluation of the naira, underscoring persistent challenges related to exchange rate fluctuations. Read Also: BRICS Expands to 13 New Countries as Nigeria’s Inclusion Sparks Controversy The document states, “In Q2 2024, the debt stock grew in naira terms to N134.3 trillion from N121.7 trillion in Q1 2024, driven mainly by exchange rate devaluation. The dollar amount of debt was roughly the same.” This indicates that while the total debt has increased in naira, its dollar value has remained stable, reflecting the effects of currency dynamics on debt valuation. Domestic and External Debt Analysis Within the debt structure, domestic debt constitutes 53% of the total, amounting to N71.2 trillion ($48.4 billion), while external debt represents 47%, or N63.1 trillion ($42.9 billion). Notably, Nigeria's debt-to-GDP ratio continues to rise, now exceeding 50%, raising concerns regarding fiscal sustainability. Pay Attention To: Tinubu Appoints Former NFF Official Shehu Dikko, Dismissed Over Corruption Allegations, as Sports Commission DG FGN Bonds, which comprise 78% of domestic debt, highlight the government’s reliance on local bond markets for funding. Other instruments in the domestic portfolio include Nigerian Treasury Bills, Savings Bonds, Sukuk, Promissory Notes, and Green Bonds, illustrating a diverse borrowing strategy. On the external front, multilateral loans account for the largest segment of external debt at 50.4%, with bilateral loans and commercial loans contributing 13.7% and 35.9%, respectively. This balance between concessional and market-based borrowing allows Nigeria to effectively manage its debt obligations while navigating the complexities of global financial markets. Continued Activity in the Debt Market During a recent press conference at the IMF/World Bank annual meetings in Washington D.C., Tobias Adrian, the IMF’s financial counsellor, noted that Nigeria and other frontier markets have remained active in the debt market throughout 2024, despite increased financing costs compared to pre-2021 levels. He stated, “Frontier markets, including Nigeria, have been active in the debt market this year, and though access to financing is still more expensive than before, the overall issuance levels have been encouraging.” Additionally, the Ministry of Finance announced that Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, will advocate for adequate and affordable financing to support Nigeria’s ongoing reforms. The statement highlighted that Edun would lead discussions aimed at bolstering Nigeria’s economic resilience, particularly in light of the nation’s structural adjustments. Recent reports indicate that Nigeria’s debt servicing payments surged by 69% in the first half of 2024, reaching N6.04 trillion, a significant increase from N3.58 trillion in the same period of 2023. This sharp rise in debt service obligations, driven largely by naira devaluation affecting foreign debt repayments, reflects a mounting burden on the Federal Government, with debt repayment consuming a considerable portion of its financial resources. Data from the Central Bank of Nigeria (CBN) reveals that debt service in H1 2024 constituted 50% of the total expenditure of N12.17 trillion and an astonishing 162% of the N3.73 trillion total revenue generated during this timeframe. Stay informed with Ejes Gist News – Your Source for Credible News in Nigeria.

[socialistworld]

Protest and Repression in Nigeria

Protest and Repression in Nigeria

From Socialism Today, magazine of the Socialist Party (CWI England & Wales).    It has been a tale of woes and anguish in Nigeria as the government, led by Bola Tinubu, has continued to unleash multiple […] Special financial appeal to all readers of socialistworld.net Support building alternative socialist media Socialistworld.net provides a unique analysis and perspective of world events. Socialistworld.net also plays a crucial role in building the struggle for socialism across all continents. Capitalism has failed! Assist us to build the fight-back and prepare for the stormy period of class struggles ahead. Please make a donation to help us reach more readers and to widen our socialist campaigning work across the world. Donate via Paypal

[accuratenewsng]

FEC Okays Disasters Relief Fund

The Federal Executive Council (FEC) has approved the setting up of a Disasters Relief Funds that is aimed at engendering quick response to victims of disasters across the country. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated this on Monday while briefing State House Correspondents shortly after the FEC meeting chaired by President Bola Tinubu at the…