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The Economy: Disturbing Signals From Presidency
Signals emanating from and around the Presidency in recent times have not been complementary to the institution, especially as pertains to the management of the Nigerian economy. With the most acute implications is the issue of the creation of a new Presidential Economic Advisory Council (PEAC), in the face of the National Economic Council (NEC) which is provided for in Section 153 of the Constitution. President Muhammadu Buhari had recently established the PEAC under circumstances that attracted more suspicion than merit for it, in spite of the impeccable credentials of the designated members. The major plank on which public misgiving had rested was the equally trending story that the personal aides of the Vice President who is also the Chairman of the NEC, have been redeployed to operate from offices outside the immediate precincts of the State House. The two stories largely reinforce the public take that there is a rift between the offices of the President and the Vice President – a development which if true, projects the Presidency as a house divided against itself.
While as expected, the State House media team had been striving to neutralise whatever insinuations that have been generated by these strands of information, the need exists for caution to guide the Presidency as the various operatives launch one initiative after the other, many of which only heighten public sense of unease in these times. Public concern over the stance of the Presidency on the economy is justified by the harsh experiences of the first term, during which the country went into avoidable economic recession. Nigerians and foreigners alike who have stakes in the Nigerian economy easily blame the government for allowing the recession through inchoate economic policy measures made worse with wrong timing.
With the advent of PEAC, the Presidency has set for itself another challenge of convincing Nigerians that it has no agenda of vitiating the integrity of the NEC and thereby launch Nigerian economy into another season of arrested development as occurred during the first term. Given that the management of a country’s economy thrives better with transparency and orderliness in the regime of policy administration, the simultaneous operation of two economic advisory bodies hardly bodes for efficiency. Against the backdrop of the foregoing therefore, many Nigerians wondering over the legitimacy as well as utility of the new body, especially from the context of two fears. Firstly, is why create a parallel body to the constitutionally established NEC in respect of providing economic advisory inputs to the Presidency? With the Vice Presidency as its Chairman, does NEC report to any other authority beyond the President? Secondly, was the advent of PEAC playing out the script which is trending virally, on the ground that it was intended by the hawks in the Presidency to blight the political relevance of the Vice President, Professor Yemi Osinbajo, and predispose him to irrelevance in Nigeria’s presidential political calculus for 2023. This second fear has trended to the extent of assuming the semblance of realty in many quarters, leading some governors to actually demand formal clarification from the Vice President. He in his response to them, explained that the PEAC was just a personal think tank for the President himself and has no negative effect on the NEC. Whether the inquiring governors and the Nigerian public were convinced by the Vice President, is a matter for another day.
Meanwhile, the country is yet to come to terms with an earlier Presidential directive for all Ministers to communicate with the President officially only through the Chief of Staff, Mr Abba Kyari. Needless to recall the wave of resentment it generated when that order saw the light of day, as many suspected a hidden agenda of tacit marginalisation of whoever does not fit into the good books of Kyari, as the ‘clearing house’ for the President’s attention and favours. Many had argued then whether the Vice President should also pass through Abba Kyari to communicate with the President. However, the advent of PEAC has left many permutations trending in the public domain.
Coming back to the spectacle of the PEAC against the backdrop of happenings in the Presidency leads more than a few Nigerians to nurse the fear that the economy may still be a weak link in Buhari’s second term – this time due to infighting among the key factors in the government’s engine room. While the major weak point throughout the first term of Muhamadu Buhari as the President of the country was the nation’s economy, largely due to the misreading of its features at the inception of his tenure, the prospects of having a continuation of the same malady in the second term may be a pill too bitter for Nigerians to swallow without a whimper.
Yet, the manifest concerns of the APC government at the centre, seem to focus less on the burning issue of an improved economy and more on permutations for the post-Buhari era come 2023. Many think that the circumstances that ushered in the APC into political power at the centre in 2015 and 2019 seem to have overwhelmed the party and the Presidency that they literally forget that the country’s perennial development challenge is on the economic front.
The question now is, having bulldozed themselves into power in 2015 and 2019, is the APC keen on winning the peoples’ hearts for the future? The disturbing signals from the Presidency point to a different direction.
Monima Daminabo
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We’re Vigilant, Steadfast In Preserving Peace, Stability Of Rivers – Fubara …Lays Wreath To Mark 2025 Armed Forces Remembrance Day
Rivers State Governor, Sir Siminalayi Fubara, has pointed to the robust government-security agencies’ collaboration that has greatly helped in achieving the reassuring peace and stability enjoyed in the State.
The Governor also described such feat to divine help, insisting that without the grace of God, every human effort and strategies would have come to naught.
Governor Fubara spoke at the venue of events climaxing the 2025 Armed Forces Remembrance Day Celebration at Government House in Port Harcourt on Wednesday.
Earlier at the parade ground in Isaac Adaka Boro Park, Governor Fubara inspected the guard of honour mounted by officers of the Armed Forces and security agencies.
He also laid the wreath alongside his Deputy, Speaker of the Rivers State House of Assembly, State’s Chief Judge and Service Commanders, chairman of the State Traditional Rulers Council, acting chairman of the State chapter of Nigerian Legion and a representative of widows of the fallen heroes. Governor Fubara also released the pigeons to signify peace.
Governor Fubara emphasised the role every Nigerian must play in achieving enduring peace and security as they continue to support the Armed Forces and security agencies in overcoming security challenges that confront the country.
He said: “Rivers State has enjoyed significant peace and stability under this administration, a testament to the collaboration between the government and security agencies, as well as the grace of God.
“We remain vigilant and steadfast in preserving this peace and will continue to provide the necessary support to security formations in the State to ensure they can effectively discharge their duties.
“I call on every citizen to rally around our Armed Forces and work together to strengthen our national unity. We must ensure that every section of our country feels included and valued, fostering a stronger and more cohesive Nigeria.”
Governor Fubara commended President Bola Ahmed Tinubu for his efforts in modernizing and prioritizing the welfare of the Nigerian Armed Forces.
The Governor offered the assurance of his administration to remain loyal, supportive while collaborating with the Federal Government in achieving better and improved welfare for men and officers of the nation’s security agencies.
Governor Fubara noted that while Nigeria has endured the trials of civil war, it has continued to tackle the internal threats from terrorism and armed insurgency, saying, “Through it all, our Armed Forces have stood resolute defending us, keeping peace, upholding our nation’s integrity, and ensuring the survival of our beloved country.
“Even as we speak, our servicemen and women remain on the frontlines, courageously combating insurgencies and other threats to our security. Today, we gather to reflect on and celebrate the bravery of our veterans, whose dedication has safeguarded our nation’s territorial integrity and preserved its sovereignty.”
Governor Fubara said that without the heroism of these gallant servicemen and women, Nigeria would not be what it is today, either would the people enjoy the prevailing freedoms and peace that are often taken for granted.
The Governor recommitted his administration to supporting the legionnaires and families of the fallen heroes, and pledged the sum of N50million to the widows to enable them scale up their economic activities, pay rents and solve other problems of their families.
In his speech, the Acting Chairman of Nigeria Legion, Rivers State Chapter, ACC Kuu Aminkipo Promise, expressed appreciation to Governor Fubara for his immeasurable financial support to members of the legion, which has sustained their livelihoods and kept their wards in school.
President Bola Tinubu has congratulated six Nigerians named by President Joe Biden among the 400 recipients of the Presidential Early Career Award for Scientists and Engineers (PECASE) in the United States.
This recognition, established by former President Bill Clinton in 1996, is the highest honour bestowed by the United States government on outstanding scientists and engineers in the early stages of their careers.
This year’s awardees, announced by Biden on Jan. 14, are employed or funded by 14 participating United States government agencies, Mr Bayo Onanuga, the President’s Spokesman, said in a statement in Abuja, yesterday.
The Nigerian honourees include Azeez Butali, Gilbert Lilly Endowed Professor of Diagnostic Sciences, College of Dentistry, University of Iowa; and Ijeoma Opara, Associate Professor of Public Health (Social and Behavioral Sciences), Yale School of Public Health, Yale University.
Others are: Oluwatomi Akindele, Postdoctoral researcher at Lawrence Livermore National Laboratory; and Eno Ebong, Associate Professor of Chemical Engineering, Bioengineering, and Biology at Northeastern University;
The rest are: Oluwasanmi Koyejo, Assistant Professor of Computer Science at Stanford University; and Abidemi Ajiboye, Executive Vice Chair of the Case School of Engineering, Department of Biomedical Engineering, Case Western Reserve University.
Tinubu commended the awardees for their achievements in science, technology and engineering.
He noted that recognising the talents of the awardees underscored Nigerians’ vast potential to excel both at home and on the global stage.
Tinubu looked forward to the honourees sharing their multidisciplinary expertise to benefit Nigeria’s development efforts under the Renewed Hope Agenda.
Sheikh Mohamed bin Zayed Al Nahyan, the President of the United Arab Emirates (UAE) has accepted President Bola Tinubu’s invitation to visit Nigeria this year.
Tinibu invited him on Wednesday during their bilateral talks on the sidelines of the Abu Dhabi Sustainability Week 2025, Mr Bayo Onanuga, the President’s spokesman, said in a statement.
President Tinubu arrived in Abu Dhabi on Sunday as a guest of the UAE President to participate in the Sustainability Week.
He delivered Nigeria’s position on climate and other challenges earlier on Wednesday and congratulated the UAE leader for the successful event.
During the discussions, the Sheikh thanked Tinubu for accepting his invitation and expressed the UAE’s determination to strengthen economic cooperation between Nigeria and his country.
The two leaders also explored attracting investment into Nigeria.
President Tinubu said his government’s economic reforms were yielding fruits and called on the UAE to partner with Nigeria to develop the economy.
He said the reforms had stabilised and grown the economy, encouraging foreign investors, including international oil companies, to announce billion-dollar investments, signalling renewed confidence in doing business with Africa’s most populous nation.
President Tinubu thanked Al Nahyan for the warm reception he and his aides received since their arrival over the weekend.
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