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Jonathan ran Nigeria’s economy aground – Presidency

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1 year ago

September 30, 2025

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The Presidency last night accused former President Goodluck Jonathan of lacking a clear economic agenda during his administration of over five years, alleging that he ran the country’s economy aground.

According to the Presidency, Nigeria’s current economic woes began under Jonathan’s government.

In a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the Presidency also warned Jonathan — described as a gentleman — to be wary of those urging him to contest the 2027 presidential election.

The warning follows a recent comment credited to Professor Jerry Gana, who said the former President would contest the 2027 election and send President Bola Tinubu “back to Lagos.”

While stating that Jonathan was free to join the race, the Presidency maintained that Nigerians would not forget what it described as his “abysmal performance in office.”

The statement read:“As we begin the march towards the 2027 elections prematurely foisted on the nation by the desperation of the opposition ganging up against President Bola Tinubu despite his glaring economic strides, we are once again regaled with a cacophony of voices, most of them full of sound and fury, signifying nothing — to paraphrase inimitable William Shakespeare in one of his classic works, Macbeth.

One recent statement that stands out in its absurdity is Professor Jerry Gana’s. The former Minister of Information and National Orientation, moving to draft former President Goodluck Jonathan into the 2027 presidential race, affirmed that the former President would contest on the platform of the discredited Peoples Democratic Party (PDP), which left behind a legacy of economic ruin after 16 years of bad governance.”

The Presidency further dismissed Gana’s claims that Jonathan could defeat Tinubu, describing them as delusional.

It added:“We should caution former President Jonathan to be wary of the PDP’s sugar-coated cheerleaders. Politicians of Jerry Gana’s ilk merely want to lure him into the race to satisfy their personal, political, religious, and ethnic interests. They will abandon him midstream, as they did in 2015, and leave Gentleman Jonathan in the lurch.

Don’t get us wrong: President Jonathan reserves the right to run if he wishes. It is his inalienable right. President Tinubu will wholeheartedly welcome him if he decides to enter the race. But Jonathan will have his day in court to determine whether, having been sworn in twice as president, he is constitutionally eligible to contest and, if successful, be sworn in for a third term.”

Onanuga stressed that Jonathan’s record would also be put to test before Nigerians:

“We cannot forget in a hurry how his regime, devoid of any clear economic agenda, engaged in frivolous spending, ran the economy aground, and put the country in dire straits. The downturn that President Tinubu is working very hard to overcome actually began under Jonathan.

In 2010, Jonathan inherited $66 billion — $46 billion in foreign reserves and $20 billion in the Excess Crude Account. By 2015, when he was voted out, reserves had fallen below $30 billion, and the Excess Crude Account was depleted to $2 billion, despite record oil revenues.

By December 2014, the Federal Government could no longer pay salaries, while at least 28 states owed workers huge arrears.”

The Presidency contrasted this with what it called Tinubu’s “bold reforms” in office: “In just over two years, President Tinubu has removed the ruinous fuel subsidy, unified the exchange rate, and stabilised the economy. GDP grew by 4.23% in Q2 2025, inflation dropped to 20.12% in August 2025 — the lowest in three years — and foreign reserves now stand at $42.03 billion. Investor confidence has returned, the Naira has stabilised, and critical infrastructure projects such as the Lagos-Calabar Coastal Highway are underway.

In plain language, the nation has turned the corner. Nigerians are beginning to reap the gains of Tinubu’s reforms. The PDP broke the economy; President Tinubu is fixing it. Jonathan and others are welcome to the 2027 race, but Nigerians will not allow them to return and run it down again.”

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Nigeria demands two permanent UN seats, veto powers for Africa

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2 weeks ago

September 25, 2026

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Nigeria has demanded at least two permanent seats for Africa on the UN Security Council, with veto powers for as long as the privilege exists.

Vice-President Kashim Shettima made the demand while delivering President Bola Tinubu’s national statement at the 81st UN General Assembly in New York.

He also demanded five non-permanent seats for Africa, in line with the continent’s longstanding common position on reforming the Security Council.

Shettima said the Council’s present configuration no longer reflected contemporary geopolitical realities and weakened the legitimacy of global decision-making.

“The world of 2026 cannot remain captive to the distribution of power in 1945,” he said.

He said Africa could no longer remain outside permanent membership while issues concerning the continent continued to occupy substantial attention of the Council.

According to him, Nigeria’s position is consistent with the Ezulwini Consensus and Sirte Declaration, adopted as the Common African Position.

Under the position, Africa seeks at least two permanent seats with all existing privileges, alongside five non-permanent seats on the Council.

The African Union reaffirmed the demand in May, saying Africa’s exclusion from permanent representation constituted a historical imbalance requiring correction.

Shettima argued that institutions claiming authority to act for humanity must adequately reflect the people on whose behalf decisions are taken.

He linked Security Council reform to efforts to restore confidence in multilateralism amid widening geopolitical divisions.

The Vice-President also reaffirmed Nigeria’s commitment to the UN Charter and international cooperation.

He said Nigeria supported an international system where diplomacy takes precedence over coercion and international law guides relations among states.

Shettima recalled Nigeria’s contributions to international and regional peace operations in Liberia, Sierra Leone, Darfur, Mali and The Gambia.

He said Nigeria also continues to work through ECOWAS, the African Union and Gulf of Guinea mechanisms.

According to him, these efforts cover mediation, counter-terrorism, democratic governance and maritime security.

Shettima said persistent conflicts across different regions underscored the need to return to dialogue, collective responsibility and peaceful settlement of disputes.

He identified the conflict in Sudan and other theatres as requiring urgent diplomacy because of their humanitarian, economic and geopolitical consequences.

The Vice-President also warned against a global environment where propaganda blurred distinctions between victims and aggressors and complicated accountability.

He maintained that an inclusive and effective UN remained indispensable to global peace and sustainable development

Nigeria’s demand comes amid renewed calls by African leaders for reforms to an institution whose permanent membership remains unchanged since its creation.

The Security Council has five permanent members: China, France, Russia, the UK and the US, each possessing veto power.

Africa currently has no permanent representative on the Council..

The African Union’s preferred reform model provides for at least two permanent African seats, including veto privileges while existing members retain them.

The reform model also seeks five non-permanent seats for Africa.

Shettima said Nigeria remained committed to a multilateral order capable of responding more credibly to 21st-century realities.

According to him, differences among nations must not obscure their common humanity or responsibility to preserve peace for future generations. (NAN)

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New financial markets facility set to open in Abia

Published

3 weeks ago

September 16, 2026

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A forex trading facility is expected to open in Abia State in October, following the 2025 Abia Forex Expo, which organisers said attracted more than 1,500 participants.

The facility is being established by entrepreneur and financial markets personality, Sam Keys, as a platform for financial education, market analysis, trading activities and networking.

According to the organisers, the project followed increased interest in forex trading and other financial market activities among youths and business communities in the state.

The proposed facility will provide a physical location where traders, aspiring investors and other participants can access financial market information, take part in educational activities and interact with others in the sector.

Keys had previously organised the 2025 Abia Forex Expo, which brought together participants interested in forex trading, investment and financial markets.

The new facility is expected to complement such events by providing a permanent location for activities relating to financial market education and trading.

The October opening is expected to attract traders, investors and other individuals interested in learning about the financial markets.

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Abia debunks N50,000 akara tax claim

Published

3 weeks ago

September 15, 2026

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Abia State Government has debunked reports that akara sellers and other petty traders in the state are being compelled to pay N50,000 as tax, describing the claim as misinformation.

The government also said it had approved the designation of some historical and natural sites as State Monuments and State Natural Monuments, while declaring Aba a Creative and Innovative City.

Commissioner for Information, Prince Okey Kanu, disclosed this on Monday while briefing journalists on the outcome of the State Executive Council meeting presided over by Governor Alex Otti.

Kanu said the historical sites approved as State Monuments include the National War Museum, Umuahia; Ojukwu Bunker, Umuahia; and Government College, Umuahia.

Those designated State Natural Monuments are Ibom Waterfall in Arochukwu and Ulochukwu Cave in Alayi, Bende Local Government Area.

According to him, the designations would strengthen the government’s efforts to preserve the state’s cultural and natural heritage, promote tourism and open up new economic opportunities.

“These sites have been elevated to heritage sites that enhance the state’s tourism potential. With this approval, they are primed to attract recognition as UNESCO Heritage Sites,” Kanu said.

He further disclosed that Aba had been designated a Creative and Innovative City in recognition of its longstanding commercial, industrial and creative significance.

The commissioner said the retrofitting of the Ojukwu Bunker and National War Museum had reached about 80 per cent completion and was expected to be concluded before the end of 2026.

He said the projects would improve the preservation of the sites, enhance visitors’ experience and strengthen their tourism potential.

Kanu also disclosed that the Ministry of Arts, Culture and Creative Economy had received approval to develop the Ibom Waterfall Tourism Corridor in Arochukwu.

He said work had commenced, including grading of access roads to the waterfall, with completion expected before the end of the year.

The commissioner added that the state government had commenced the erection of monuments at strategic locations to preserve Abia’s heritage, honour its heroes and heroines and promote the state’s cultural identity.

He cited a monument being dedicated to the heroines of the 1929 Aba Women’s Riot as one of such initiatives, saying it would celebrate their courage, resilience, resistance and leadership.

No N50,000 tax on akara sellers
On the controversy over alleged excessive taxation, Kanu said there had been no fresh increase in tax rates by the Abia State Board of Internal Revenue, noting that most of the rates being circulated were contained in tax laws enacted in 2020 under the previous administration.

He stressed that the Board could not unilaterally increase tax rates without enabling legislation.

“For starters, these rates are not new. Most of the rates are 2020 tax rates that were introduced by the previous government.

“Let me reiterate that the Board of Internal Revenue cannot raise tax rates without the backing of enabling laws. And no such increases have been introduced by the Abia State Government,” he said.

Kanu explained that demand notices issued by the BIR were provided for under the law, urging taxpayers to comply with relevant tax provisions while assuring that legitimate concerns would be addressed by the appropriate officials.

On the specific claim that akara sellers were being made to pay N50,000, he said: “This is pure fallacy. Nothing can be further from the truth. Akara sellers don’t pay tax or levies. They pay daily tolls. And none can pay N50,000.”

The Chairman of the Abia State Board of Internal Revenue, Mr Uche Elekwachi, corroborated the clarification, saying there was no revenue window under the state’s tax laws requiring akara sellers to pay such an amount.

Elekwachi said the Abia Internally Generated Revenue Service Law establishing the applicable framework was enacted in 2020, before the present administration came into office.

“This whole thing has always been in existence. The Abia Internally Generated Revenue Service Law was enacted in 2020 long before this government came onboard, so we need to make that clarification,” he said.

Gratuity: 2011–2025 retirees next.

On outstanding gratuities owed retired workers, Kanu disclosed that the government had completed payments covering 2001 to 2010 and was preparing for the next batch covering 2011 to 2025.

He said the next payments would commence after the completion of ongoing internal verification and other necessary processes.

The commissioner dismissed claims that the government had only commenced gratuity payments because of pressure from the opposition, explaining that the huge financial commitment involved made payment in batches necessary.

“The payments will be in batches. The funds involved are huge for one balloon payment,” he said.

Kanu also clarified reports suggesting that gratuity payments would continue only until 2031, explaining that such reports are incorrect.

He explained that the State Gratuity Committee had recommended the inclusion of gratuity provisions in the state’s 2026–2031 Medium-Term Expenditure Framework and subsequent annual budgets to ensure that gratuity obligations were systematically provided for and prevent the accumulation of fresh arrears.

“That does not translate to payments being terminated in 2031. As the internal processes and verification of beneficiaries of these payments continue, due payments would still be made in batches,” he said.

He added that the government remained committed to clearing the outstanding liabilities and expressed optimism that the process could be completed earlier than anticipated.

“The conclusion of payment of outstanding gratuities may happen earlier than we ever imagined. Let us therefore wait and see how the next batch of payments will unfold,” Kanu said.

The Commissioner for Arts, Culture and Creative Economy, Mr Matthew Ekwuribe, and the Special Adviser to the Governor on Internally Generated Revenue, Dr Emmanuel Okpechi, were also present at the briefing.

Source: Vanguard.