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Presidency announces return of $150m Abacha loot from France

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The Nigerian presidency has announced that France will be returning $150 million that was looted by former Nigerian military head of state, General Sani Abacha. President Bola Tinubu expressed his gratitude to France for this decision during a meeting with the French Minister of Europe and Foreign Affairs, Catherine Colonna. He commended the strengthening of bilateral relations between Nigeria and France and expressed optimism about the judicious use of the repatriated funds for development purposes.

President Tinubu also welcomed the growing cooperation between the two countries in various areas of mutual interest, including climate change, economic integration, education, and culture. He acknowledged the signing of a €100 million agreement between Nigeria and France to support the i-DICE program, a Federal Government initiative aimed at promoting investment in Information and Communications Technology (ICT) and the Creative Arts Industries.

Regarding the return of the Abacha loot, the French Presidential Envoy mentioned that the repatriation process had been lengthy but was now successfully concluded, emphasizing the importance of achieving justice, even if it takes time.

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BREAKING: Oronsaye Report: Tinubu to scrap many agencies, merge others

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President Bola Tinubu will implement some of the recommendations contained in the Oronsaye Report.

This is majorly, in order to cut the cost of governance.

This is coming 12 years after the Steve Oronsaye Panel submitted its report on restructuring and rationalising Federal government parastatals and agencies and a white paper issued two years after.

According to Bayo Onanuga, the President and the Federal Executive Council on Monday reached a decision to implement the report.

He said: “Many agencies will be scrapped and many others will be merged, to pave the way to a leaner government.”

CREDIT: DAILY POST

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‘You’re responsible for Nigeria’s economic woes’— Atiku tackles Tinubu

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Atiku Abubakar, the Peoples Democratic Party (PDP) candidate in the 2023 general election, attributed Nigeria’s economic challenges to President Bola Ahmed Tinubu.

In a statement shared on his official social media account on Sunday, the former Vice President of Nigeria urged Tinubu to take cues from Argentina’s President Javier Milei on swiftly restoring investor confidence despite inheriting a troubled economy.

Atiku criticized Tinubu for deflecting blame onto the opposition and his predecessors, calling such actions unnecessary and shortsighted. He emphasized that market dynamics respond to concrete actions, not political rhetoric.

Drawing parallels with President Milei’s leadership in Argentina, Atiku highlighted the need for well-sequenced economic reforms. He commended Milei’s proactive approach in preparing for the post-reform challenges and ensuring the availability of mitigating measures.

Atiku contrasted Tinubu’s administration’s ad hoc and hurried reforms with Milei’s strategic sequencing. He pointed out Argentina’s lean government structure achieved through reducing ministries and privatizing state-owned enterprises, contrasting it with Nigeria’s expanding bureaucracy and excessive spending on official residences.

Atiku likened Tinubu’s administration’s approach to Nero fiddling while Rome burns, accusing him of evading substantive action and blaming the opposition for policy failures, reminiscent of characters in George Orwell’s Animal Farm.

Expressing admiration for Argentina’s reforms, Atiku suggested aligning his “Recover Nigeria Plan” with Milei’s stabilization strategy to alleviate Nigeria’s economic distress. He emphasized the need for transparent policies focused on economic revival and warned against dismissing discontent, particularly among the youth, which could manifest in protests.

The statement referred to the worsening economic conditions in Nigeria, highlighted by soaring inflation rates and high living costs, as reported by the National Bureau of Statistics, with headline inflation reaching 29.90% and food inflation at 35.42% in January 2024.

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BREAKING: Fire guts FCT Minister’s residence

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A fire broke out at the private residence of Dr. Mariya Mahmoud, the Minister of State in the Federal Capital Territory Administration (FCTA), on Sunday afternoon.

Situated at No. 9, Justice Roseline Ukeji Close in the affluent Asokoro district of Abuja, the property was reportedly completely destroyed by the blaze.

Despite prompt emergency response efforts, including the arrival of fire service personnel, nothing could be salvaged from the premises.

Mr. Austin Elemue, the Minister’s Special Adviser on Media, confirmed the incident, indicating that the cause of the fire remained unknown at the time.

Authorities have initiated an investigation to ascertain the cause of the fire.

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