Economy

CSO condemns video threatening President’s wife over economic woes

Published

2 years ago

February 24, 2024

A rights group, Save Nigeria Movement (SNM), a famous Civil Society Organisation (CSO) in Nigeria has condemned in strong terms a video in which an acclaimed Islamic cleric is seeing attacking Nigeria’s First Lady, Senator Oluremi Tinubu by over the hardship experienced in the country.

In a video which has already gone viral on the internet, an unnamed man simply identified as an Islamic cleric was heard calling the President’s wife an infidel and insinuating that she should be killed according to the Shariah law because she is a Christian and pastor.

The cleric also criticised the Muslim/Muslim ticket that secured President Bola Tinubu’s election victory as fraudulent, adding that Oluremi Tinubu should be condemned to death for her role as a pastor.

But in a strong worded press release made available to journalists in Abuja by its Convener, Rev. Solomon Semaka, SNM condemned in strong terms such unguarded and primitive utterances and warned those trying to weaponize Nigeria’s current economic challenges using religion, politics and tribal sentiments to desist forthwith.

Excerpts, “while we question the logic of the so-called cleric and can’t seem to make any coherent connection between Senator Oluremi Tinubu, her being a pastor, the Muslim/Muslim ticket and why she should be killed because she’s an infidel, intelligence available to us points to the fact that Mr. President is the target here. This is highly condemnable and Nigerians while advocating for a better country do not support such sinister plots aimed at destabilizing the nation in this critical times of our nations trajectory to Stability and growth.

Rev Semaka however opined that the current situation was a combination of many years of mismanagement of critical sectors of the economy such as the exchange rates, poor commodity pricing regime and the persistent non metering system adopted in the sales of our crude oil. Advising president Tinubu to consider metering the sales of our crude oil to block leakages and boost foreign exchange earnings. This is the only way to have enough foreign exchange earnings to defend the naira.

“We, therefore, condemn in strong and unequivocal terms those hiding under religion and tribal sentiments to foment trouble and destabilise the efforts currently underway to address the country’s challenges. We don’t know the motive behind the video and the calls for the killing of President’s wife but we condemn it in totality. It is not just barbaric but never part of Islamic teachings and Nigerians must not allow a misguided fanatic to set the nation on fire with his unfounded and urreligious utterances”.

The CSO cautioned Nigerians at this critical time to mind their utterances and public statements to guard against “inciting people against and causing public disturbance as efforts are believed to be in top gear to address the obvious but surmountable challenges Nigerians are facing by the administration. We cannot afford any breakdown of law and order at this material time. Government needs all the concentration and focus it can ganner to pull us out of our current situation for our collective good”

The CSO equally decried the rising spate of tribal skirmishes and tensions currently going on across the country especially in the south with flash points in Lagos and called for tolerance, unity of purpose and unalloyed loyalty to the nation to enable Mr President deliver on his Renewed Hope Agenda.

“We patriotically call on peace lovers and leaders across board to condemn the video purportedly released by the said Imam. Religious leaders cannot afford to abuse their sacred callings now that citizens needs to be praying for the nation’s stability. The President’s wife is not the only Nigerian female pastor and her religion has nothing to do with the situation in the country, trying to demonise her for no justifiable reason is simply a ruse to get at President Bola Ahmed Tinubu and Nigerians cannot accept that.

“It is equally sad that instead of uniting to overcome the challenges that we face as a people, some persons have taken to stirring ethnic rivalry and tensions across the country. The situation in Lagos is particularly worrisome and disturbing. Our security agencies and all peace lovers must stand up to fight the ills trying to weaken our collective resolve and hope in the current administration to a standstill”, the statement concluded.

Economy

JUST IN: FG Halts Planned 15% Import Duty on Petrol, Diesel

Published

3 weeks ago

November 13, 2025

Our Reporter

By: Fabian Apechihin

The Federal Government has suspended the planned implementation of a 15 percent import duty on petrol and diesel.

This was disclosed on Thursday by George Ene-Ita, Director of Public Affairs at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), who urged Nigerians to avoid panic buying.

President Bola Tinubu had earlier, on October 29, approved the imposition of the tariff following a proposal by the Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji. The approval, conveyed in a letter signed by the President’s Private Secretary, Damilotun Aderemi, was intended to take effect from November 21, 2025.

The proposed policy sought to impose a 15 percent duty on the cost, insurance, and freight (CIF) value of imported petrol and diesel. It was aimed at supporting domestic refineries — such as the Dangote Refinery and modular plants — by making imported fuel less competitive. However, experts cautioned that the move could lead to an increase of up to ₦150 per litre in pump prices and further fuel inflation and transportation costs.

In its latest update, the NMDPRA confirmed that the import duty is no longer under consideration.

“It should also be noted that the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) is no longer in view,” the Authority stated.

The agency further assured the public of adequate fuel availability across the country, noting that national stock levels remain within the required sufficiency threshold.

“There is a robust domestic supply of petroleum products — including PMS, AGO, and LPG — from both local refineries and imports, ensuring timely replenishment of depots and retail stations,” the statement added.

NMDPRA cautioned marketers against hoarding, panic buying, or arbitrary price increases, emphasizing that it will continue to monitor the market to prevent any disruption in supply.

“While appreciating the efforts of stakeholders in maintaining smooth and uninterrupted supply, the public is assured of NMDPRA’s commitment to safeguarding national energy security,” the statement concluded.

Economy

FGN, Sign $400m Deal To Boost Local Steel Production

Published

1 month ago

October 29, 2025

Our Reporter

From Hassan Taiye

The Federal Government of Nigeria, FGN, through the Ministry of Steel Development, has signed a Joint Strategic Cooperation Declaration with Stellar Steel Company Limited.

Stellar Steel Company Limited is a steel-manufacturing enterprise established to operate in Nigeria, with major investment backing from Chinese parent groups: Galaxy Group and RSIN Group based in Fuzhou, Fujian Province, China.

The company has committed approximately US$450 million for a steel plant project in Ogun State, Nigeria, scheduled to begin operations by mid-2026.

This landmark partnership is aimed at revitalising Nigeria’s steel industry and reducing the nation’s dependence on imported steel products, according to a statement signed by the the Principal Information Officer, PIO, Ijomah Opia, for the director, Information and Public Relations in the ministry.

The agreement, signed in Abuja, on Tuesday 28th October, 2025 will see Stellar Steel invest $400 million in the construction of a modern Steel Plant in Ewekoro, Ogun State. The project will be developed in three phases, with the first phase expected to begin production by 2026.

The Minister of Steel Development Prince Shuaibu Abubakar Audu signed the agreement when he hosted Mr Li, President of Inner Galaxy Group and other members of the Stellar Steel Company Limited in the Ministry’s Headquarters in Abuja.

According to Prince Audu, the collaboration aligns with the federal government’s goal of achieving 10 million tonnes of crude steel production per annum by 2030, a major step toward industrial self-reliance and economic diversification.

The minister further stated that the Federal Ministry of Steel Development would facilitate policy and infrastructure support, including inclusion of Stellar Steel’s logistics projects in the National Infrastructure Plan and access to available fiscal incentives.

Highlights of the cooperation includes the followings:

1.Development of a localised iron ore supply chain to reduce import dependence and save over $1 billion in foreign exchange annually.

Creation of more than 2,000 direct and 20,000 indirect jobs across the steel value chain.
Promotion of green steel production using clean and energy-efficient technologies.
Strengthening of Nigeria’s position as a regional steel manufacturing hub in West Africa.

Audi also said that in return, Stellar Steel would prioritise local recruitment and training, partnering with Nigerian universities to build technical and managerial expertise in steel production.

Prince Shuaibu emphasised that this strategic cooperation marks a new era for Nigeria’s steel industry and demonstrates the government’s commitment to sustainable industrial growth and economic transformation.

In his remarks the leader of the delegation, Mr Li assured the minister that Stellar Steel would respect all agreements reached and would ensure the completion of the project in record time and assured that all safety standards will be observed.

Mr Li was accompanied during the visit by Mr You Xiastian, Vice Chairman of RSIN Group, Mr Jackie Den, Vice President of Inner Galaxy Group and Mr Yin, Director of RSIN Group.

He recalled that the Minister of Steel Development, Prince Audu, performed the groundbreaking ceremony of the Steel Plant in Ogun State sometime in April, 2025.

Speaking at the signing, representatives of both parties emphasised that the partnership would strengthen Nigeria’s industrial base, create jobs, and foster technology transfer in the sector.

Economy

EU Delegation Strengthens Ties with Nigerian Senate

Published

1 month ago

October 29, 2025

Our Reporter

From Hassan Taiye

A high-level delegation from the European Union (EU) Parliament’s Foreign Affairs Committee, led by Mr. David McAllister, paid a courtesy visit to the Nigerian Senate today October 28, 2025.

“We are here to deepen our understanding of the situation in West Africa and strengthen our partnership with Nigeria,” McAllister said.

Senate President Godswill Akpabio welcomed the delegation, emphasizing Nigeria’s strategic partnership with the EU. “Nigeria is committed to strengthening ties with the EU, highlighting areas of mutual interest, including security, trade, and governance,” Akpabio said.

The delegation, comprising Ambassador Greta Mylott, EU Ambassador to Nigeria and ECOWAS, Miss Zelaya Zorko, Miss Mata Tamido, Sebastian Tankman, General Christophe Gomart, and Sebastian Buharo, is undertaking a comprehensive tour of West Africa, with stops in Nigeria and Ghana.

During the visit, Akpabio shed light on the challenges facing female representation in Nigeria’s parliament. “Women often vote for male candidates, making it difficult for female candidates to win elections,” he noted.

“The Senate is exploring innovative solutions, including constitutional amendments, to boost female participation in the legislative process, with support from organizations like the Black Women’s Forum.”

The EU delegation’s visit aims to foster greater understanding and cooperation between the EU and Nigeria, addressing shared concerns, such as terrorism, climate change, and economic development.

“The EU is committed to supporting Nigeria’s development efforts,” McAllister assured the Senate, emphasizing the bloc’s interest in seeing a stable, prosperous, and democratic Nigeria.

Their visit also includes participation in the forthcoming International Islamic Conference on Security and Governance in West Africa and the Sahel, scheduled for November 4-6, 2025 at ECOWAS Commission.

Akpabio expressed optimism about the potential for enhanced cooperation, highlighting Nigeria’s readiness to work with the EU to address common challenges.