NewStats: 3,259,434 , 8,170,092 topics. Date: Saturday, 24 May 2025 at 11:56 PM 3r162d

zero8zero:
Tinubu is a step ahead of Trump.

As in, Trump literally smacks our behind to expedite action on our hip status. We have been a prospective member since 2021 but dilly-dallying on full hip until Trump recently pulled out funding from African Development Fund which definitely going to kind of cripple the effectiveness of African Development Bank that has been largely helpful towards infrastructural development around the continent. Good a thing is the tenure of Adeshina has effectively ended as AFDB President. The next president will definitely have a tough tenure ahead.

Stolen:
AT THEIR OWN RISK.


WITH RUSSIA ANS USA AND IN THE DESERT, ANYTHING CAN HAPPEN.

Absolutely nothing is going to happen. Those world powers would rather protect their economic interests than protect human lives.

With the US, UAE very much invested in this project as well as top global financiers such as the Islamic Development Bank, OPEC fund, European Investment Bank, the project could be said to be as good as done. Conceptualized in 2016, nine years after, the source of funding for its take off is pretty much settled. For many reasons, this project pushes Nigeria as a frontier, it is going to boost Nigeria's economic power. Russia is not only a military power but its gas resources makes her a major economic power house, despite tons of sanctions aimed at suppressing her earning power, Russia is still holding strongly. Europe's demand for her gas is a no brainer to the extent to which Russia is staying afloat the tons of sanctions imposed on her, in the process, improving her local currency to boot.
In the same vein, Nigeria promises to hold an economic bargaining power in the near future.
Europe is going to be a winner as much as African nations by which this project will certainly improves regional energy access, regional integration, as well as regional trade.
However, this must not be confused with Nigeria-Algeria gas pipeline project. This is also another $10billion gas pipeline project known as the Trans-Sahara Gas Pipeline deal which would see gas pumped through the undersea Mediterranean pipeline, transmitted to Italy, Spain and other parts of Europe. It could also be loaded into liquified natural gas tankers or vessels for exports. This pipeline es through Niger Republic to Algeria - one of the largest gas deposit in Africa behind Nigeria.
In conclusion, Nigeria is running two mega pipeline projects side by side, a $25b gas project to Morocco and a $10billion gas project to Algeria.

The United Arab Emirates has agreed to contribute to a huge gas pipeline project that will connect Nigeria to Morocco and eventually reach Europe.

Morocco’s Minister of Energy Transition and Sustainable Development, Leila Benali, told lawmakers on Tuesday that the UAE is now one of the ers of the project, which is estimated to cost $25 billion.

“As for finance. The project has won the of IDB, OPEC Fund, EIB and the UAE,” she said.

Benali also said that Morocco has finished all feasibility and engineering studies needed for the pipeline.

According to Moroccan industry experts, the project has already ed the feasibility study and Front End Engineering Design stages.

The gas pipeline, now called the “African-Atlantic Gas Pipeline”, will connect Nigeria’s gas network with Morocco’s southern city of Dakhla and then go northward toward Europe.

The line will through 15 African countries, boosting trade, development, and access to electricity in the region.

In Phase One, it will link Morocco to gas fields near Senegal and Mauritania, and connect Ghana to the Ivory Coast.

Phase Two will link Nigeria to Ghana, while Phase Three will connect the Ivory Coast to Senegal.

Experts said this pipeline will help bring more power to African homes and businesses while encouraging economic partnerships across the region.

With more than 400 million people living along its route, the pipeline is seen as a key driver of regional integration, industrial growth, and improved infrastructure.

Morocco and Nigeria have set up a t venture to manage the project. They signed a financing agreement earlier to help move it forward.

China’s Jingye Steel Group has been awarded the contract to supply pipes for the construction.
At 6,800 km long, including 5,100 km offshore, the pipeline will become the longest offshore gas pipeline in the world once completed.

Benali added that Morocco also aims to become a regional leader in clean energy, with high potential to produce green hydrogen and other renewable resources.

https://punchng.com/uae-to-invest-in-25bn-nigeria-morocco-gas-pipeline-project/

Anyone not enthused by this good news, is under a weight heavier than human comprehension. It is advisable for us as citizens to be responsible, able and objective as much as possibly as the spirit of patriotism demands of us. We ought to follow the data, statistics, processes as much as possible with an open mind. Neutralizing negative perceptions and a sharp resistance to anything that come off as positive about the country. This is a very great feat and deserves a tea party. The very first time in history we are off IMF red books. As the media aide rightly put it, we will still do business with IMF but in a proactive manner going forward. Let's follow the processes and statistics meticulously and disengage from media propaganda aimed at disparaging the country. Hopefully, we are into the era of reimagining while we focus on reducing other financial obligations and boosting the country's industrial capacities. God bless Nigeria.

“It’s not going anywhere… it’s not going to end any time soon,” he said. “It would now be up to them to come to an agreement and stop this brutal, brutal conflict.”

After much grandstanding and puffing with threats of sanctions, the precursor has been gathering storm from failed promises to failed deliverables. For Trumpism, the optics are going from bad to worse. Any candidate who as much coveted Trumpism, is a recipe for disaster. So far, the Trump lites both in Canada and Australia have tasted humiliating defeats in the elections. Funnily, both incumbents in Canada and Australia who had had a dwindling fortune and on the verge of defeat leading to the election until Trump happened which automatically led to a dramatic change of fortune. The world, well, maybe the west are rejecting Trump and his endorsed candidates. That's fast, considering we are just into a little over the first quarter of his presidency.
At home, Trump recorded the lowest 100-day approval rating of any President in 80years.
I really wish he can turn it around as soon as possible.

The comments come as the Kremlin expressed willingness for direct talks, but rejected a recent US peace proposal on the grounds that it did not grant international recognition to territory seized by Russian forces.

Ukraine, for its part, has consistently refused to recognise any Russian annexations, arguing that President Vladimir Putin must not be rewarded for invading its sovereign territory.

The Putin that we know will most likely never pull out of the conquered territories and so the war continues.

The United States will no longer act as a mediator in peace negotiations between Ukraine and Russia , the State Department has confirmed, signalling a shift in Washington’s role in the ongoing conflict.

Tammy Bruce, a spokesperson for the department, said the US is changing “the methodology of how we contribute” to the
talks and will no longer “fly around the world at the drop of a hat” for meetings.

“We will continue to help, but we will no longer fly around the world as mediators in meetings,”Ms Bruce told reporters.

“Now it is up to the two sides, the time has come when they must present and develop concrete ideas on how to end this conflict. It will be up to them.”

US Vice President JD Vance has warned that the war in Ukraine is unlikely to end soon, saying it is now up to Kyiv and Moscow to reach a settlement.
Speaking to Fox News, Mr Vance said President Trump had brought both sides to the negotiating table, but that the US would no longer lead efforts to mediate peace.

“It’s not going anywhere… it’s not going to end any time soon,” he said. “It would now be up to them to come to an agreement and stop this brutal, brutal conflict.”

The comments come as the Kremlin expressed willingness for direct talks, but rejected a recent US peace proposal on the grounds that it did not grant international recognition to territory seized by Russian forces.

Ukraine, for its part, has consistently refused to recognise any Russian annexations, arguing that President Vladimir Putin must not be rewarded for invading its sovereign territory.

The announcement marks a significant change in the US approach to the war, following warnings that it would withdraw from its mediating role if no progress was made.

The State Department said on Tuesday that it would quit unless it saw “concrete proposals” from both Kyiv and Moscow on how to end the war.

It comes after Russia launched its biggest assault on Kyiv since July last year , killing at least 12 people and injuring 90, according to Ukrainian officials.

https://www.standard.co.uk/news/world/us-withdraws-ukraine-russia-peace-talks-b1225632.html

The dumbest thing I have heard all year.

A local judge in handcuffs - an act of Trumpism. This is the same guy accusing the Biden istration of weaponizing the law enforcements against him, hounded with charges and trials. Here he is bouncing a judge off her court premises in a blatant display of an abuse of power. In a supposedIy most self-styled democratic nation in the world, ironically, relentlessly attacking the judicial system, flouting the orders of the court and arresting a sitting judge. Talking about flouting court orders; The Supreme Court had asked Trump to bring back an immigrant he wrongly deported to El Salvador in a 9-0 ruiling, but in his characteristic manner, Trump shrugged it off. Plainclothes officers continue to abduct University students off the streets, so-called "enemies aliens" are being flown abroad to a mega prison against the orders of the courts. Law firms, media outlets, are capitulating to Trump's intimidation. You dare criticize Trump's policies and just might be next in the shark's mouth.
Like tress falling on each other, the FBI director, Kash Patel and the Attorney General, Pam Bondi were doubling down on a sheer spectacle of authoritarianism.
Senator Bernie Sanders put it succinctly and I quote " Let's be clear, Trump's arrest of Judge Dugan in Milwaukee has nothing to do with immigration. It has everything to do with Trump moving this country towards authoritarianism".

April 25, 2025 F.B.I. agents arrested a Milwaukee judge on Friday on charges of obstructing immigration agents , saying she steered an undocumented immigrant through a side door in her courtroom while the agents waited to arrest him in a public hallway.

The decision to charge a sitting state court judge is a major escalation in the Trump istration’s battle with local authorities over deportations. The istration has demanded, under threat of investigation or prosecution, that local officials not impede federal efforts to deport millions of undocumented immigrants, and the arrest sent a message that the istration intends to take a harder line with those that do.

The arrest of the judge, Hannah Dugan , comes after months of rising tensions between the Trump istration and the judiciary. President Trump and his top advisers have repeatedly assailed “local judges” for halting or questioning actions taken by the istration, particularly when it comes to immigration cases.

Mr. Trump’s drive to round up and deport large numbers of migrants has also led to other disputes with federal judges, especially over his use of the Alien Enemies Act to send Venezuelans out of the country.

In the Milwaukee case, charging documents described a confrontation last Friday at Judge Dugan’s courthouse, in which federal agents said she was “visibly upset and had a confrontational, angry demeanor” when a group of immigration, D.E.A. and F.B.I. agents came to apprehend Eduardo Flores-Ruiz, a citizen of Mexico who was in her courtroom to face domestic violence charges.

According to the criminal complaint, the judge confronted the agents and told them to talk to the chief judge of the courthouse. She then returned to her courtroom.

“Despite having been advised of the istrative warrant for the arrest of Flores-Ruiz, Judge Dugan then escorted Flores-Ruiz and his counsel out of the courtroom through the ‘jury door,’ which leads to a nonpublic area of the courthouse,” said the complaint, which was written by an F.B.I. agent.

A Drug Enforcement istration agent spotted Mr. Flores-Ruiz leaving the building and notified his colleagues, according to the complaint. Agents approached him on the street outside the courthouse.

“A foot chase ensued,” the complaint said. “The agents pursued Flores-Ruiz for the entire length of the courthouse” before catching and arresting him, the complaint said.

The judge was charged with obstructing a proceeding of a federal agency, and concealing an individual to prevent his discovery and arrest. After a brief appearance as a defendant in federal court in Milwaukee, which unfolded about a mile from her own courthouse, the judge was released on her own recognizance.

In a statement, the judge’s defense team said she would fight the charges. “Judge Dugan will defend herself vigorously, and looks forward to being exonerated,” the statement said, adding that she had hired Steven Biskupic, a former U.S. attorney, to represent her.

“Judge Hannah C. Dugan has committed herself to the rule of law and the principles of due process for her entire career as a lawyer and a judge.” The bureau arrested Judge Dugan on suspicion that she “intentionally misdirected federal agents,” Kash Patel, the F.B.I. director, wrote on social media on Friday, before the charges were unsealed.

On Friday night, Mr. Patel posted on social media a picture of the judge in handcuffs shortly after her arrest.

David Crowley, the Milwaukee County executive, criticized the F.B.I.’s handling of the case. “It is clear that the F.B.I. is politicizing this situation to make an example of her and others across the country who oppose their attack on the judicial system and our nation’s immigration laws,” he said in a statement.

Wisconsin’s Democratic governor, Tony Evers, also raised concerns about how the Trump istration was treating judges.

“Unfortunately, we have seen in recent months the president and the Trump istration repeatedly use dangerous rhetoric to attack and attempt to undermine our judiciary at every level, including flat-out disobeying the highest court in the land and threatening to impeach and remove judges who do not rule in their favor".

Pam Bondi, the attorney general, defended the arrest of the judge, telling Fox News that when someone obstructs justice by “escorting a criminal defendant out a back door, it will not be tolerated.” “It doesn’t matter who you are, you’re going to be prosecuted,” Ms. Bondi said.

Ms. Bondi also discussed the recent arrest of a former judge in New Mexico, who was charged with obstruction over harboring a person federal agents said was a Venezuelan gang member.

“Some of these judges think they’re above the law. They are not,” she said. “We will come after you and prosecute you. We will find you.

”Christopher A. Wellborn, the president of the National Association of Criminal Defense Lawyers, reacted with alarm to the judge’s arrest, saying American democracy “rests upon the independence of the judiciary.”

“Retaliatory action from the executive branch that appears to undermine this foundation demands our unwavering scrutiny and a resounding response,” he added.

The chief judge in Milwaukee County, Carl Ashley, said in a statement that Judge Dugan’s caseload would be handled by another jurist in the courthouse and declined to comment further.

The Trump istration has vowed to investigate and prosecute local officials who do not assist federal immigration enforcement efforts, denouncing what they call “sanctuary cities”[b] for not doing more to assist federal apprehensions and deportations of millions of undocumented immigrants.

There is no precise legal definition for a sanctuary city, but the term generally refers to places where local governments put limits on how much they will assist federal authorities with deportation efforts. While disagreements about immigration enforcement are often political and policy fights, there are also significant differences in federal and local laws that contribute to the different approaches.

[b]At the Justice Department, senior officials have urged prosecutors to look for cases in which local authorities, whether they are municipal, state or court officials, have tried to stop or hinder immigration agents. The Milwaukee case involves a frequent flashpoint in that debate, when immigration agents try to arrest immigrants who are appearing in state court.

Local authorities often chafe at such efforts, arguing they endanger public safety if people dealing with relatively minor legal issues feel it is unsafe to enter courthouses.

The charging papers against Judge Dugan suggested she had been incensed to learn that immigration agents were in the courthouse, and had called it “absurd,” according to one witness.

At first, the judge asked the immigration agent if he was in the courthouse for a hearing, and when the agent said no, the judge “stated that the agent ‘would need to leave the courthouse,’” according to the complaint.

Judge Dugan then asked the agent if they were in possession of a judicial warrant, to which the agent replied no, it was an istrative warrant, according to the complaint.

I.C.E. typically uses istrative warrants, which are issued by the agency to apprehend people. Such warrants do not carry the same authority as a warrant issued by a judge, meaning that people in their homes typically don’t need to open their doors to immigration agents in possession of only an istrative warrant.

In the first Trump istration, a local Massachusetts judge was indicted on federal charges of obstructing immigration authorities.

The charges were dropped after the judge agreed to refer herself to potential judicial discipline. That case also involved allegations that a judge had allowed a defendant being sought by I.C.E. agents to leave the building via a back door in order to avoid detention.

The Massachusetts Judicial Conduct Commission has filed formal disciplinary charges against Judge Shelley Joseph. She has denied wrongdoing.

https://www.nytimes.com/2025/04/25/us/politics/fbi-arrest-judge.html

Let's summarize the financial reengineering under the current istration into key bullet points:

1. Each statistics is backed by hard economic data

2. The fiscal prudency didn't come at the expense of liquidity.

3. There's a major reduction in Nigeria's debt obligations.

4. Nigeria's return to a balance of payment surplus within a year.

5. Investors landscape is shifting positively as a result of reforms boosting portfolio investments - which is a key measure of foreign confidence.

6. There's been a surge in Disapora remittances, thereby signifying a renewed trust in Nigeria's economy.

7. In public sector, states are receiving more resources than ever. FAAC is increasingly reaching an historic highs.

8. There has been no austerity in public sector operations by the current istration so far.

9. In private sector, companies previously plagued by low returns and profitability are strongly rebounding.

10. Ongoing major infrastructural projects is a key to boosting industrial and agriculture sector.

This systematic financial reengineering has equally earned Fitch's rating and IMF validity.

Fitch Upgrades Nigeria To 'B' Rating, Stable Outlook On Policy Reforms;

https://nairaland.unblockandhide.com/8396287/fitch-upgrades-nigeria-b-rating#134951492

IMF: Nigeria Will Navigate Global Shocks Due To Tinubu's Reforms;

https://nairaland.unblockandhide.com/8403433/imf-nigeria-navigate-global-shocks#135054908

The Presidency has said Nigeria is on a firmer path to economic recovery and prosperity under President Bola Tinubu, citing significant gains in debt reduction, foreign reserves, investor confidence and trade surplus in 2024.

In a detailed update posted online on his X handle yesterday, senior special assistant to the president, Otega Ogra, said the istration listed major achievements recorded within the first full year in office, describing them as a reflection of “strategic leadership, prudent fiscal management and macroeconomic reforms.”

According to Ogra, Nigeria’s total debt stock—covering external and domestic borrowings by the federal government, the 36 states and the FCT declined from $108.2 billion to $94.2 billion as at December 31, 2024.

He further revealed that the istration has successfully cleared all verified foreign exchange backlogs of about $7 billion, while gross external reserves grew from $33.0 billion in 2023 to approximately $40.9 billion by the end of 2024.

Net reserves reportedly rose even more dramatically, from $4.0 billion to $23.3 billion—an increase of over 480 percent.

Nigeria’s Balance of Payments (BOP) also swung from a deficit of $3.34 billion in 2023 to a surplus of $6.83 billion in 2024, attributed to stronger trade performance and increased investor confidence.

Non-oil exports climbed by 24.6% to $7.46 billion, while gas exports surged 48.3% to $8.66 billion.
Ogra said portfolio investment inflows more than doubled to $13.35 billion in 2024, reflecting renewed interest in the Nigerian economy by foreign investors.

“This confidence is driven by President Tinubu’s bold macroeconomic reforms,” he stated.
Nigerians in the diaspora were also commended for their trust in the country, with personal remittances rising by 8.9% to $20.93 billion. Inflows via international money transfer operators reportedly grew by 43.5% to $4.73 billion.

On Nigeria’s debt obligations, Ogra highlighted that the country’s International Monetary Fund (IMF) liabilities were reduced by over 67%, dropping from $2.47 billion in 2023 to $800.23 million by the end of 2024.

“There have been no defaults. Nigeria under President Tinubu is repaying loans, not piling them up,” he noted.

The statement also drew attention to improved FAAC allocations to states, an increase in local and foreign investments across sectors, and ongoing infrastructure development—including 74 road projects across 24 states, the Lagos-Calabar and Sokoto-Badagry highways and the second phase of the Second Niger Bridge.

“President Tinubu is not just repairing the system, he is restructuring it for generations yet unborn,” Ogra added, urging Nigerians and investors to “bet on Nigeria.”

“Prudent management, optimisation and deployment of resources are what you get when you elect a president who understands finance and has done real work globally,” Ogra said with a call to confidence.

https://leadership.ng/nigerias-debt-has-dropped-by-14bn-under-tinubu-presidency/

Enough talk about China-US trade tangles, maybe not enough talk but a shift away from that to China- Nigeria/Africa's more significant emerging opportunities. China is not only turning to Nigeria or Africa in trade market, she is also set to deliver $51billion investment, aid, and loans over the next two years beginning as recently as 2024. Particularly that African Continental Free Trade Area (AFCTA) opens up the possibility of cross-border value chains developing in Africa.
Most of the goods that China imports from Africa are natural resources , in return, Chinese companies export a wide range of goods to Africa, including manufacturing products, Agricultural, industrial machinery , vehicles, etc. A 2019 statistics, for example, shows Chinese contractors ed for about 60% of the total value of construction work in Africa, this is bonkers! - in a good way, I mean.
So, here's the deal, a desperate Xi Jinping looking to diversify his country's market and dependency on the US market, seeing Nigeria being the biggest market for its products in Africa, will strike a deal on Nigeria's own . I expect the minister of trade and investment push a near perfect deal on the table of Mr President. This is where we're back to the China-Nigeria currency swap. Renewal of Naira/Yuan deal from $2billion to as low as $10billion as kick off. As well as more emphasis on capital goods coming in to stimulate local industrialization. That should be the sweet juice we should squeeze out of the deal. A desperate Xi Jinping would not hesitate accelerating its approval in 1week while FG puts on a big smile.

Product manufacturers in China have turned their attention to Nigeria and other emerging markets following the imposition of trade tariffs on their products by the US President, Donald Trump.

Trump, on April 2, slapped a 46% tariff on Vietnam and a 17% levy on the Philippines before paring those back to 10% for the next three months as he begins bilateral negotiations on trade with about 75 different countries.

Manufacturers say that after Washington raised tariffs on Chinese goods by 145%, U.S. orders for products have vanished.

“It’s a matter of life and death because 60-70% of our business is with American clients,” marketing manager of Conmo Electronic Co, Candice Li SAID in a survey obtained by Channels Television on Tuesday, adding,g “Goods cannot be exported and money cannot be collected. This is very severe.”

Most exporters Reuters spoke with said U.S. orders have either been delayed or stopped coming – a bad sign for the world’s second-largest economy, whose growth last year relied heavily on running a trillion-dollar trade surplus.

Kobe Huang, sales representative at Shenzhen Landun Environmental Technology, which makes water filters and smart toilets, says that for now, European sales are up, but the U.S. market is “frozen.”

U.S. customers and distributors haven’t cancelled orders, he said. “They have asked us to hold on. We are holding on.”

No other country comes close to matching China’s sales of more than $400 billion in goods to the U.S. each year.

And while Trump’s tariffs on the rest of the world are much lower, they are likely to curb global demand in coming months – and implicitly, the appetite for Chinese goods in other countries.

Despite the tariffs on China, exports from China to other countries, including to Nigeria, have surged.
A poll by AFP said China is expected to post first-quarter growth of around five percent on Wednesday, buoyed by exports.

Analysts polled by AFP forecast the world’s number two economy to have grown 5.1 percent from January to March.

Figures released Monday showed Beijing’s exports soared more than 12 percent on-year in March, smashing expectations, with analysts attributing it to a “frontloading” of orders ahead of Trump’s so-called “Liberation Day” tariffs on April 2.

Many exporters said they have been either diversifying their production bases outside China, or the markets they sell to, away from the United States.

Henry Han, sales manager at Apexto Electronics Co, which makes SSD and micro SD flash drives, says the U.S. market only s for 10% of direct sales, down from 30% before the pandemic. Many of their customers now take shipments of components for final assembly in a third country to avoid the tariffs.

Sales manager David Du, from speaker maker Zealot, said an order from Skechers for 30,000 speakers to be distributed to their U.S. stores was put on hold after Trump’s tariffs. But he said he can rely on other markets.

Zealot got a big and unexpected break in 2015, when an all-in-one speaker, power bank and emergency flashlight became a hit in Nigeria.
He added that its market in Nigeria is now twice as big as the U.S., ing for 40% of total sales and taking in 45 containers monthly.

“We are as big as JBL” in Nigeria, Du said, referring to the Californian audio equipment brand.
READ ALSO: Global Investors Dump US Stocks At Record Pace — Survey

China’s exports to Nigeria are diverse and significant, with a focus on manufactured goods, particularly electrical and electronic equipment, machinery, and vehicles. In 2023, these top exports included electrical and electronic equipment ($2.88B), machinery, nuclear reactors, and boilers ($2.13B), and vehicles (other than railway or tramway) ($1.34B).

The bilateral trade between Nigeria and China reached an all-time high of $15.1 billion (about N25.7 trillion) between January and September 2024, with China’s imports from Nigeria increasing by 36.1 per cent year-on-year.

https://www.channelstv.com/2025/04/15/china-turns-to-nigeria-other-emerging-economies-as-us-markets-freeze/

jmoore:


That's the main point for the masses. Tinubu is a monumental disaster.

That is not the main point, that's just an obvious point. Poverty and insecurity have been with us for as long as we could . However the main drive is the point below: stability, resilience and steady growth which the reforms has brought so far so good.

In a statement by the IMF, Schimmelpfennig said authorities had taken “important steps” to stabilise the economy, enhance resilience, and growth.

Basically, the economy is healthy enough to pull through in the face of global uncertainties. Imagine us being heavily dependent on petrol Importation, paying as huge as $20billion for fuel subsidy and then international supplies took a hit?.
Imagine us paying 97% of our revenue for debt payments and then oil revenues dipped and our foreign exchange took a massive hit?.
And then imagine we found ourselves back to where we once were when 30 states couldn't pay workers salaries because of global meltdown such that our revenues was massively affected?. It would have been absolutely catastrophic for us a a nation right now.
It's no fault of yours when global uncertainties bump into you when you least expected, however, it's all fault of yours when you were caught least prepared.
With global power play which is drastically affecting global demand and supply, Nigeria could beat her chest and say she is as healthy as holding up as much.

The International Monetary Fund (IMF) says Nigeria will navigate global shocks due to the reforms implemented by President Bola Tinubu.

Axel Schimmelpfennig, IMF mission chief for Nigeria, spoke during a visit to Lagos and Abuja from April 2 to 15, where he led a delegation to hold discussions for the 2025 Article IV Consultations with Nigeria.

The team met with Wale Edun, minister of finance and coordinating minister of the economy; Abubakar Kyari, minister of agriculture and food security; Yemi Cardoso, governor of the Central Bank of Nigeria (CBN); ministry of environment and other stakeholders in the private sector, academia, labour unions, and civil society.

In a statement by the IMF, Schimmelpfennig said authorities had taken “important steps” to stabilise the economy, enhance resilience, and growth.

The steps, he noted, include ending the CBN’s financing of the fiscal deficit, removing costly petrol subsidy, and improving the functioning of the foreign exchange market.

“The Nigerian authorities have taken important steps to stabilise the economy, enhance resilience, and growth,” Schimmelpfennig said.

“The financing of the fiscal deficit by the central bank has ceased, costly fuel subsidies were removed, and the functioning of the foreign exchange market has improved. Gains have yet to benefit all Nigerians as poverty and food insecurity remain high.

”The outlook is marked by significant uncertainty. Elevated global risk sentiment and lower oil prices impact the Nigerian economy.

“The reforms since 2023 have put the Nigerian economy in a better position to navigate this external environment. Looking ahead, macroeconomic policies need to further strengthen buffers and resilience, while creating enabling conditions for private sector-led growth.

“The authorities communicated to the mission that they will implement the 2025 budget in a manner that is responsive to the decline in international oil prices.”

TIGHT MONETARY POLICY REQUIRED TO CURB INFLATION’

The IMF official also recommended a neutral fiscal stance to monetary policy in bringing down inflation.

He added that fiscal savings from petrol subsidy reforms should be channelled into the national budget to protect critical investments.

Schimmelpfennig further advised that the CBN maintain a tight monetary policy stance to curb inflation.

“In particular, adjustments should protect critical, growth-enhancing investment, while accelerating and broadening the delivery of cash transfers under the World Bank-ed program to provide relief to those experiencing food insecurity,” he said.

“A tight monetary policy stance is required to firmly guide inflation down.”

Schimmelpfennig said the monetary policy committee’s data-dependent approach has served Nigeria well and will help navigate elevated macroeconomic uncertainty.

https://www.thecable.ng/imf-nigeria-will-navigate-global-shocks-due-to-tinubus-reforms/

I predicted Trump was going to reverse himself, unfortunately, nobody wagered against me, I could have been a million dollar bucks richer. It's much like Trump promising a piece of meat but throwing a bone with a little meat stuck on it and then he's having his ers say he's putting America first. Without mincing words, Trump is tanking pretty early, barely four months in. Every American President prides himself in mounting on a podium and saying " I promised X and I delivered X". But here we have a supposedIy alpha President getting his butts sit down by bricks hitting back at his face.
I feel like there's is a bulb going off in his head each time he sleeps at night telling him he's making himself an object of ridicule, so he needed to reverse himself on some of his policy decisions.

"We have to take care of our farmers and hotels and various places where they need the people."

You didn't know this before?

This plan is an example of the continuous endeavor to find a middle ground between strict immigration enforcement and the practical needs of companies who are trying to fill open positions.

You didn't know you needed a fairly balanced immigration policy?, really?. You just found out that Truth Social and White House realities are a world apart.

Trump put forward a proposal at Thursday, April 10, Cabinet meeting that might temporarily let certain undocumented immigrants to stay in the United States if they had significant from their employers. This would be especially true in sectors like agriculture that are experiencing labor shortages.

President Trump reportedly told farmers, "We're also going to work with them that if they have strong recommendations for their farms for certain people, we're going to let them stay in for a while and work with the farmers," on Thursday, April 10, as reported by The Washington Times.

Essential sectors like agriculture, hospitality, and others that depend on manual labor must have access to workers, he said. The president implied that these employees will formally apply for permanent residency status in due time.

Following a meeting with Homeland Security Secretary Kristi Noem, who detailed the Trump istration's plan for illegal aliens to self-deport, the president made the following statements

Trump hinted that the proposal may change into a guest-worker program, which would sponsor the temporary stay and employment of specific persons in the nation by their businesses. "

A farmer will come in with a letter concerning certain people saying they’re great, they’re working hard," said Trump. "We’re going to slow it down a bit for them and then we’re ultimately going to bring them back."

He did say that getting these people legal status would be the end aim, but that it would be a long road. According to the president, "We have to take care of our farmers and hotels and various places where they need the people."

This strategy is crucial in addressing labor shortages in important industries. This plan is an example of the continuous endeavor to find a middle ground between strict immigration enforcement and the practical needs of companies who are trying to fill open positions.

According to Trump, the government is trying to find a way to aid businesses that rely largely on immigrant labor while also trying to rein in illegal immigration. Significant political and legal obstacles are anticipated to stand in the way of this plan's implementation, and its specifics are still up in the air.

https://www.washingtontimes.com/news/2025/apr/10/trump-says-illegal-immigrants-stay-based-boss-recommendations/

As good as it might sound trying to democratize the FCT, it is far from being properly framed and a little too far from being logical and realistic. How reasonably practicable is it having three FCTs?. The operating word here is " federal" - meaning each region would be a host to the three arms of Government ( executive, legislative and judiciary). How possibly can we replicate three three National Assemblies, three Executives and three Supreme Courts?. Of all the three arms, the Supreme Court appears the most practicable, it kind of makes sense having Supreme Court each in Lagos, PH and Abuja, it definitely going to save lots of time and stress going all the way to Abuja for a final verdict.
I have heard Senior Advocates clamour for at least one magistrate court in each Local Government.
Several countries that practice multiple capitals did that by locating an arm of Government at separate locations. For instance, a particular city houses the executive capital (the seat of power), another city houses the legislative capital while a third city houses the judicial capital. It would therefore be more reasonable and better suited if Nigeria could replicate the same arrangement, if there will ever be a consideration at all. Lagos as the Legislative Capital, PH as the Judicial Capital while Abuja retains the Executive Capital.Otherwise, the most acceptable idea will be to give special status to both Lagos and PH while Abuja continue being the sole FCT.

The Growth and Development of Northern Nigeria (GDNN) has called on the Federal Government to designate Lagos and Rivers as Federal Capital Territories.

The organisation described both cities as critical economic hubs whose assets deserve national protection and equitable access by all Nigerians.

Speaking at a press conference in Abuja on Friday, the Acting Secretary, Public Policy Advocacy Unit of GDNN, Haruna Buhari, announced that the resolution emerged from the group’s 18th Steering Committee meeting held on April 9, 2025.

According to him, the designation of Lagos and Port Harcourt as extensions of the Federal Capital Territory would resolve recurring political controversies, ensure federal protection of national assets, and grant all citizens equal access to opportunities, similar to the current status of Abuja.

“The GDNN notes that the North has been the one always in concession to the rest of the country and not any others. To limit this Status to only Abuja is not only treating the North unfairly but turning our backs at the Commitment made in 1975 by the then Head of State General Murtala Ramat Muhammed when a decision was taken to develop Abuja and designate Lagos, Kaduna and Enugu as “Special Areas” as appendages to the new Federal Capital City.

“We also call on the 19 Governors of the North to negotiate Governance conditions of the current Federal Capital Territory that must give preferential treatment to citizens of Niger, Kogi, Nasarawa and Kaduna States that contributed their territories into what is the FCT of today. The same policy can be implemented for the other Federal Capital Territories when created.”

The group also condemned the systematic degradation of the Nigerian Senate under its current leadership.

Citing the suspension of Senator Natasha Akpoti-Uduaghan and referencing similar past incidents involving late Senator Nuhu Aliyu, Senator Ali Ndume, and Senator Abdul Ningi, the northern group accused Senate leadership of weaponising internal rules to silence dissenting voices, particularly from the North.

Buhari argued that all the Senators whose rights have been abused to date by the same or previous Senate Presidents and their Vanguards are from the North, stressing that caution must be exercised in display of reckless abuse of executive privilege as it has consequential repercussions.

Expressing concern that the insecurity situation of the Country is not improving, he urged the National Security Adviser, Nuhu Ribadu to engage genuinely friendly nations that have the technological capabilities to eradicate insecurity if the subsisting solution does not bring about the desired outcome.

The organisation further took a swipe at the Central Bank of Nigeria’s tightening of the Cash Reserve Ratio (CRR), describing the policy as counterproductive to growth, inflation control, and financial access.

Buhari appealed to the Federal Government to disengage completely from any further relationships with any, or replica of the United States Agency for International Development (USAID) now dissolved by President Donald Trump.

According to him, Nigeria must reevaluate its relationships with donor agencies by determining critical essential needs and dictating of any subsequent future engagements, adding that the count has enough resources to its needs.

He also expressed concern that Nigeria’s legal framework for identifying money laundering has criminalised many legitimate traders who conduct large-volume cash transactions daily, especially in open markets across the country.

The group raised the alarm over a looming environmental and health catastrophe emanating from the Mpape landfill dumpsite in Abuja.

https://guardian.ng/news/northern-group-asks-fg-to-designate-lagos-rivers-as-fcts/

Nigeria's economic policies, attendant outcomes, reactions, financial capacities are being closely monitored. We were upgraded from where we once were at a very high level of credit risks to where there's a margin of safety, stability and continued capacity of payment of financial commitments depending on the outlook of our business environment. This is a positive in which Nigeria's creditors and investors will be much interested.

zero8zero:
Trump will be impeached again and this time around, it will be ed by the Senate. And he will be thrown out of office.

PressMyButton:

Seriously, the Republican will rather another President than heading to the polls already defeated in four years. Some powerful Republican senators have been calling him out and asking him to reverse it.

I very much doubt impeachment is ever going to happen. I could tell that some senators are already mooting the idea of introducing a bill to rein in Trump's tariffs power, take the power from him and hand it over to the congress. That in itself is also a tough call.