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The many silver linings of Tinubu’s 7 months in office By Bayo Onanuga

Published

2 years ago

December 23, 2023

Sahara Weekly

Tinubu to Attend Guinea-Bissau Independence Day Commemoration

The many silver linings of Tinubu’s 7 months in office

By Bayo Onanuga

The removal of fuel subsidy and the move to merge foreign exchange rates, two headline reforms introduced by the Tinubu administration since late May, triggered problems such as high fuel prices and the depreciation of the Naira, two monstrosities which combined to cause a general spike in costs of services and goods.

Today, many Nigerians complain of a rise in the cost of living.

According to the latest NBS report, Nigeria’s inflation, which rose to 26.7 percent in September, again rose to 28.2% in November from 27.33% in October. Food Inflation remains untamed, rising from 31.52% in October to 32.84% in November 2023.

To compound the economic problems, few multinational companies such as GlaxoSmithKline, Procter & Gamble have announced their exit from our country, complaining about the difficult operating environment and the scarcity of dollar.

The truth is that the new policies alone are not solely responsible for the economic problems we are facing today. We were destined for the tough and rough patch, where we are today because of the prevailing conditions before Tinubu took over on 29 May.

As at June 2023, budget deficit was N10.8 trillion. Actual Debt service was 98.95 percent of revenue, far higher than the projected 59.37 percent. Inflow into the country’s foreign reserve came in trickles. And so bad was the state of affairs that Nigeria could not remit about $800 million fund of foreign airlines. JP Morgan exposed our near insolvency by claiming in a report that our net foreign reserve was just about $3.7 billion, not the $33 billion plus flaunted by Emefiele’s CBN.

President Tinubu, who promised during the campaign to take hard and difficult decisions, moved to tackle the economic problems from Day One, by first dispensing with the wasteful fuel subsidy that was billed to consume about N7trillion this year, five times more than what was provisioned for capital spending.

President Tinubu is quite aware of the side effects of his move to reset our economy. Though his administration has earned plaudits from the World Bank, the IMF and rating agencies such as Moody’s and Fitch, he is not carried away by the praises.

He is focussed on turning the economy round for growth, development and prosperity.

The moves are yielding some good effects. Amidst what some sections of the media perceive as general gloom, some silver linings are emerging, signposting that with a little more patience, our material conditions will improve and inflation will be tamed. For businesses, operating conditions will also improve.

In its third quarter report for the year, the NBS reported that GDP grew by 2.54percent. In a similar period in 2022, GDP recorded a growth of 2.25%. To demonstrate that the sun may be shining on us again, the 2.54% GDP growth recorded in Q3, was also higher than the 2.51% recorded in Q2.

The service sector, made up of information and communication, financial and insurance, was responsible for the growth witnessed in Q3. It had a 3.99% growth, contributing 52.7% of the aggregate GDP. The agriculture sector declined from 1.34% growth in Q2 to 1.3percent in Q3.

Growth was also recorded in construction and real estate, metal ores(69.76%), coal mining(58.03%), chemical and pharmaceutical products(6.77%), Cement(4.2%) and construction(3.89%). Oil reported a negative growth of 0.85%, a major improvement to the negative 22.67% recorded at the same period last year. It was -13.43 in Q2 of 2022. The improvement in the oil sector and its contribution to GDP has been attributed to the improvement in the security of oil infrastructure and operations, leading to increased production. Going forward in this Q4 and 2024, the NNPC Limited is confident that the sector will continue to climb the curve.

In the same Q3, according to NBS, the Industrial sector grew by 0.46%, an uptick compared with Q3 2022, when it had a negative 8% growth, even in the era of P&G and GSK exit.

An interesting revelation in the NBS Q3 report was the big jump in the volume of trade, from N12.16 trillion in Q2 to N18.8 trillion. Trade volume in the same period in 2022 was N12.28 trillion. We also recorded a trade surplus of N1.89trillion in Q3, an increase from the N708.8 billion in Q2 2023. In Q3 in 2022, we recorded trade deficit of N409.39 billion.

Value of exports in the third quarter was N10.35 trillion, far higher by 60.78 percent than the N6.44 trillion posted in Q2 2023. Crude oil dominated the export, accounting for 82.5 percent, a confirmation that our country is pumping out more oil for export unlike the previous years.

Just as our exports increased, imports also increased, rising from N5.73 trillion in Q2 2023 to N8.46 trillion in Q3, a rise of 60.8 percent. The imports recorded in the quarter was also higher in value compared to Q3 2022, which was N6.34 trillion.

As the Minister of Budget and National Planning, Atiku Bagudu noted in a recent report, economic prosperity in our country will be achieved with the reforms being implemented, supported by strong monetary and fiscal policies, food supply management and other intervention programmes.

President Tinubu who has never shied away from acknowledging the temporary pains triggered by the reforms, gave an assurance in a recent newspaper interview that his Administration will continue to take proactive measures to wrestle with the problems. Many of these measures are already being taken and in the New Year, we expect the silver linings, that are at present understated, to blossom into rays of sunshine to be experienced by all Nigerians.

*Onanuga is the special adviser Information and strategy to President Bola Tinubu

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Inside the Success of Yoruba Cinema’s Biggest Stars

Published

6 days ago

May 27, 2026

Sahara Weekly

Inside the Success of Yoruba Cinema’s Biggest Stars

King of the Screen: Why Odunlade, Muyiwa, Femi Adebayo Remain Yoruba Movie Giants

The Yoruba movie industry has continued to produce legendary talents whose influence stretches beyond Nigeria to global audiences. Over the years, some actors have distinguished themselves through consistency, versatility, box office success, and cultural impact.

Among the numerous stars in Nollywood’s Yoruba sector, three actors have remained dominant figures whose names constantly resonate with fans and filmmakers alike — Odunlade Adekola, Muyiwa Ademola, and Femi Adebayo.

Odunlade Adekola: The Street King of Yoruba Cinema

Popularly regarded as one of the most entertaining actors in Nollywood, Odunlade Adekola has built a unique reputation through his energetic delivery, comic timing, emotional depth, and strong connection with grassroots audiences.

From comedy to action and emotional family dramas, the actor has consistently proven his versatility in blockbuster productions. His ability to interpret diverse roles effortlessly has made him a household name across Nigeria.

Industry observers believe his dominance on social media platforms, where his movie clips frequently go viral, has further strengthened his popularity among younger audiences.

Beyond acting, Odunlade has also contributed immensely to mentoring upcoming talents and expanding the commercial value of Yoruba films.

Muyiwa Ademola: The Master Storyteller

For many lovers of indigenous movies, Muyiwa Ademola remains one of the finest storytellers the Yoruba film industry has produced.

Widely respected for producing emotional and morally driven movies, the actor earned massive recognition through classic productions that focused on family values, culture, betrayal, perseverance, and societal lessons.

His calm delivery, deep scripts, and originality have kept him relevant despite changing trends in the entertainment industry.

Film critics often describe Muyiwa Ademola as one of the few actors whose productions combine entertainment with strong cultural education, making his movies timeless among older and younger viewers alike.

Femi Adebayo: The Modern-Day Box Office Force

Femi Adebayo has successfully combined traditional Yoruba storytelling with modern cinematic excellence, helping to project indigenous films to international audiences.

The actor, filmmaker, and producer has recorded major successes with high-budget productions that gained attention on streaming platforms and cinemas.

Known for his professionalism and attention to detail, Femi Adebayo has continued to push Yoruba movies beyond local boundaries while preserving cultural identity.

Entertainment analysts say his ability to blend culture, technology, and quality production has positioned him among the leading faces shaping the future of Yoruba cinema.

Growing Global Influence

The success of these actors reflects the increasing acceptance of indigenous Nigerian content globally. With streaming platforms creating wider access to local movies, Yoruba actors are now gaining international recognition and attracting new audiences.

Fans and stakeholders in the entertainment industry believe the contributions of Odunlade Adekola, Muyiwa Ademola, and Femi Adebayo have not only sustained Yoruba culture through film but have also elevated Nollywood’s global reputation.

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Eid-el-Kabir: Olowu of Kuta Urges Peace, Unity, Selflessness Among Nigerians

Published

6 days ago

May 27, 2026

Sahara Weekly

Olowu Kuta To Yoruba Obas: Uplift Culture And Tradition Of Our Forebears

Eid-el-Kabir: Olowu of Kuta Urges Peace, Unity, Selflessness Among Nigerians

The Olowu of Kuta, HRM Oba Dr. Hammed Makama Oyelude, CON, Tegbosun III, has called on the Muslim Ummah and all Nigerians to make peace, unity, and selflessness their guiding principles as the world marks this year’s Eid-el-Kabir celebration.

In his Sallah message, the revered monarch described Eid-el-Kabir as a “highly spiritual occasion that demands dedication, commitment, and selflessness.”

Oba Makama said the period should be used to reflect on societal happenings and promote messages of hope and unity without inciting provocation.

He urged Nigerians to live together harmoniously, irrespective of religious, political, or tribal affiliations, stressing that politicians should exercise restraint and avoid inflammatory rhetoric ahead of the 2027 general elections.

“What should be uppermost in the mind of every patriotic Nigerian is **‘Country first,’” he said.

The monarch also appealed to citizens to remain vigilant in the face of insecurity, reassuring that the armed forces and paramilitary agencies are working round the clock to ensure a smooth and peaceful celebration.

“The price wise men pay for eternal liberty is vigilance. I urge everyone to celebrate moderately and extend a helping hand to the less privileged, widows, and orphans, embracing them as our brothers and sisters,” Olowu Makama added.

He concluded by wishing all Nigerians a peaceful and fulfilling Eid-el-Kabir celebration.

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Oba Babatunde Saliu Elebo II Felicitates Muslims on Eid-el-Kabir Celebration

Published

6 days ago

May 27, 2026

Sahara Weekly

Oba Babatunde Saliu Elebo II Felicitates Muslims on Eid-el-Kabir Celebration

By Adeyemi Obadimu Veron

The Oloworo of Oworosoki Kingdom, Oba Babatunde Saliu Elebo II, has extended warm greetings and heartfelt felicitations to Muslims across Nigeria and the world at large on the joyous occasion of the 2026 Eid-el-Kabir celebration.

In a statement made available to Newsmen, the revered monarch urged Muslims to embrace the true teachings of Islam by promoting peace, love, unity, sacrifice, and compassion during and after the festive period.

Oba Babatunde Saliu Elebo II noted that Eid-el-Kabir, also known as Salah, remains one of the most significant celebrations in Islam as it symbolizes total obedience, faith, and devotion to Almighty Allah, drawing inspiration from the unwavering sacrifice of Prophet Ibrahim (Abraham), who demonstrated complete submission to the will of God.

According to the monarch, the Holy Qur’an teaches believers the importance of righteousness, kindness to humanity, tolerance, and support for the less privileged in society. He emphasized that the season should serve as a reminder for all Nigerians to live in harmony irrespective of religion, ethnicity, or political differences.

The royal father further called on Muslims to use the sacred period to pray fervently for peace, stability, economic growth, and sustainable development in Nigeria, stressing that national progress can only thrive in an atmosphere of unity and mutual understanding.

Oba Saliu also encouraged the faithful to extend hands of generosity to widows, orphans, and vulnerable members of society, noting that the essence of Eid-el-Kabir goes beyond celebration and feasting, but also reflects the spirit of sharing and caring for humanity as instructed in the Qur’an.

While wishing Muslims a peaceful and memorable Eid celebration, the Oloworo of Oworosoki prayed for divine blessings, prosperity, good health, and continued harmony in homes and communities.

“May this year’s Eid-el-Kabir strengthen our faith, deepen our love for one another, and bring renewed hope and abundant blessings to our nation,” the monarch stated.