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Which Way Nigeria: The Imperatives of A New Economic Direction

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Presidency Clears The Air On Tinubu’s Planned Visit To Qatar

*Which Way Nigeria: The Imperatives of A New Economic Direction*

By Dapo Otubanjo, a financial analyst & real estate entreprenuer

 

After eight months in the Villa, the clock ticking on President Tinubu’s administration has gathered enough time for us to start seeking accountability for his actions, and the delivery of his electoral promises to a Nigeria with an urgent need for national renaissance, and a new economic direction.

The realities of our lives today as Nigerians is gravely incongruous to the promise to renew hopes, and reinvent the economy for a new era of opportunities, and prosperity for all of us. The agony of excruciating economic stagflation is now more widespread, and tending towards a period of national economic depression.

Nigerians understand, and have demonstrated severally in time past, that when time and government change, so must we the people as “new challenges require new responses”. Unfortunately the economic pains of this era are like a disaster with no solution in sight, leaving most folks in the terrifying situation of inadequate household income for survival talkless of a decent living.

Given Nigeria’s precarious economic situation post Buhari’s government of destructive economics, there was no doubt about the need, and urgency for appropriate reforms to reorganize the country for economic recovery, and national security. And whilst the reforms of Tinubunomics are requisite liberal policy prescriptions, the executions are mired in premature timing, terrible implementation, and insensitive partisan gloating over the government’s audacity to introduce the reforms rather than a democratic tolerance for national discussions on the devastating consequences of its impacts as leverage to gauge acceptance, and gather citizens feedbacks for reviews, adjustments, and corrective measures in its areas of deficiencies, and ineffectiveness.

However the opportunity still exist, for correction and, to arrest our miserable spiral towards economic doomsday, and President Tinubu must hurriedly embrace the wisdom to do a reset, and refine the wrong elements of his reforms for the achievement of better outcomes in critical areas of job creation, reducing, and stabilizing both the value of the naira, and inflation, and attracting significant local, and foreign investments for the immediate task of economic recovery, and recreation of a vibrant middle class that was totally wiped out by the previous APC government, and long term goals of industrialization, and sustainable growth in the economy, and our export sector.

The best, and most imperative solution, and palliative for the rising cost of living is immediate wage increase across all sectors. The Federal government must seek to achieve wage increase of two hundred thousand naira for Federal workers, negotiate with the states for one hundred and fifty thousand naira for all state employees, and push the private sector towards fifty thousand naira as the barest minimum for the lowest set of workers to fuel consumer spending that was hitherto dwindling for obvious reasons, and improve households financial resources to minimally mitigate against worsening economic situation.

The inflationary effects of an unstable naira need a freeze otherwise the application of wage increase will be futile, and become a continuous demand. It is imperative for the government to return the provision of interventions in the FX market through partial exchange rates management until all foreign investors seeking full liberalization are willing to bring in their funds, and/or when the sale of government assets, and export earnings are sufficient enough to provide adequate supply for FX demands. The arbitrage gains of FX trading in the previous APC government made FX business highly profitable with devastating practices of round tripping, and speculative FX trading that continuously encourage a large number of folks to hoard, and hold on to a large pool of foreign currencies at the expense of a free fall in the value of the naira.

Through the CBN, the government need to urgently introduce appropriate monetary measures to curb these practices, and incentivize the release of more foreign currencies into the market.

Our national challenges cannot be resolved by government alone but the government have a crucial role to play in setting the agenda, and transforming the private sector into a pivot for growth, and national development. President Tinubu should as a matter of national emergency deploy all presidential support for the Dangote, and other refineries to achieve refining capacity sufficient enough for local fuel consumption, and make provisions to export excess supply to the West African sub region. And use the support, and other regulatory instruments to negotiate a stable fuel price over three to five year period as further safeguard against inflation, and forex pressure on the naira.

So many of our Federal assets are wallowing in the inefficiencies of terrible operations, corrupt government practices, and nepotistic managements delivering inadequate, and unreasonable returns for the Nigerian state. There should be an urgent consideration for their privatization, and sales to generate requisite, and significant revenues to shore up the economy, and engineer a long term foundation for sustainable growth, and national prosperity.

Our demands, and exploration for foreign investments must seek prospects in the Middle East, and some parts of Asia where there are abundance of liquidity for investment capital, and great probability for immediate result. The president should constantly deploy his most brilliant envoys to the region for continuous negotiations, and schedule all presidential investment travels around the region for closing of appropriate investment deals.

Recently, the government launched over a hundred billion naira housing programme. As good, and commendable that is, it is still a drop in the ocean, and too meagre for any significant social, and economic impact for a nation of over two hundred million population. We must seek to raise trillions of naira within a short term for the substantial growth of the sector, and its exponential impacts on the economy, and provide complementary infrastructure for urbanization, rural connections, and the financial reform of our mortgage system to reduce interest rates, increase period, and affordability, and expand access to more households. We have a large pool of idle funds in various pension schemes, and must explore a viable government means for these funds to find profitable returns in real estate business opportunities.

The erosion of value in our banking sector capitalization levels are critical challenges for our national ambitions, and obviously needs urgent rounds of renewal towards the trillions of naira capitalization threshold to adequately fund the expansion of national productivity, manufacturing, sustainable large scale credit industry, and a new middle class.

And those super highways (SHW) the president promised us need to start coming alive in urgent, and huge contract awards, and accelerated construction works as credible means to connect communities, and states across the country, and ease the movement of people, and products. Our rail networks need significant improvements, and expansion with appropriate security measures to complement the comprehensive renewal, and expansion of our transport means, and its impact in the boosting of trade, and commerce.
Generations of Nigerians have endured economic crises at different times of bad governance often with the deceptive cliché that the situation will eventually get better. President Tinubu must make a departure from that decades old political narrative, and explore credible means within the limitless possibilities of our potentials to stimulate immediate economic recovery, and long term sustainable growth, secure, and unite the country, and deliver the promise of a developing nation.

Today’s worsening economic situation is not a new territory for Nigeria as we have often travelled through tough national periods of economic stagnation, and recession, widespread poverty, and underdevelopment. The president should reasonably review thoroughly the economic reforms of the democratic government of 1999 – 2007, and draw appropriate economic lessons from the successful economic reforms of that era in reasonable FX market, and inflation management, naira stabilization, privatization, bank consolidation, the commencement of a credit system that was subsequently unscaled, a widening middle class, and amazing economic growth that put Nigeria at the forefront of the globally acclaimed narrative of Africa rising. And essentially gave a national rebirth to the audacious can do spirit of the Nigerian folks. It was an era of incredible demonstration of what we can achieve together through collective actions, and visionary leadership, and we must seek to replicate the same economic results as a navigating path out of our current economic downturn.

The current generation of Nigerians possess all that we require to transform ourselves from a nation perpetually travelling in the wrong direction into a developing country of proud citizens. The onus is essentially the president’s to lead from the front, and set forth a clear vision with opportunity for everyone to make appropriate contributions towards sustainable growth, and national development.

Tough times define great leaders. And time, and chance they say happen to all of us. There is a great moment for the president to seize, and more importantly for the sake of our nation, we hope he takes this period as an incredible chance to cement the foundation of his legacy, and unfold the greatness of Nigeria.

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Why Ifako-Ijaiye’s Voice Is Louder At The Lagos Assembly: The Jah Factor

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Why Ifako-Ijaiye’s Voice Is Louder At The Lagos Assembly: The Jah Factor

By Ibukun Simon

In legislative politics, not all representatives are created equal. Some merely occupy seats; others shape conversations, influence outcomes, and leave visible footprints in the lives of their people. Since 2019, Ifako-Ijaiye Constituency I has belonged firmly to the latter category, thanks to the emergence of Hon. Adewale Temitope Adedeji, fondly known as JAH, as its representative in the Lagos State House of Assembly.

As a journalist who has covered proceedings of the Lagos Assembly consistently since 2015, I have witnessed first-hand how representation can either fade into the normal routine or rise into relevance. The entry of Hon. Adedeji into the Assembly marked a clear turning point—not only for Ifako-Ijaiye, but for the quality of debate, advocacy, and people-focused legislation within the House.

On the floor of the Assembly, Hon. Adedeji stands out as one of the lawmakers journalists naturally gravitate towards. His interventions during plenary sessions are deliberate, articulate, and deeply rooted in public interest and knowledge. In the 40-member House, he is widely regarded as one of the top five lawmakers whose contributions command attention, not because of theatrics, but due to his clarity of thought, persuasive delivery, and uncommon mastery of issues. When JAH speaks, the chamber listens—and the press takes notes.

This strength of presence is crucial in a legislative environment where influence matters. In parliamentary practice, experience translates to authority. The Lagos State House of Assembly, like many legislatures, places significant weight on ranking members—lawmakers whose sustained service enhances their ability to push motions, influence committee outcomes, and attract development to their constituencies. Returning Hon. Adedeji to the House in 2027 would therefore mean strengthening Ifako-Ijaiye’s bargaining power and ensuring its concerns are not just heard, but prioritized.

Beyond the chambers, the impact of Hon. Adedeji’s representation is visible across the constituency. In terms of infrastructural development, several road construction and rehabilitation projects have been attracted to Ifako-Ijaiye under his watch, improving accessibility, boosting local businesses, and easing daily movement for residents. These are practical dividends of democracy that speak louder than campaign slogans.

Equally significant is his focus on human development and social inclusion. Since assuming office in 2019, Hon. Adedeji has facilitated job opportunities, empowered the less privileged, and consistently supported students through the distribution of JAMB and GCE forms, helping to remove financial barriers to education. These interventions reflect the impact of a representative who understands that development must touch both infrastructure and people.

What further distinguishes Hon. Adedeji is his constant engagement with constituents. Through consultations, town-hall interactions, and accessibility, he has maintained a relationship that goes beyond election cycles. This closeness has fostered trust and ensured that governance remains responsive to grassroots realities.

As Lagos continues to grow and legislative responsibilities become more demanding, constituencies like Ifako-Ijaiye cannot afford experimental representation. They require lawmakers who understand the system, command respect within it, and can translate legislative influence into real benefits for the people.

From the Assembly floor to the streets of Ifako-Ijaiye, the record since 2019 is clear: effective representation works—and Hon. Adewale Temitope Adedeji has delivered it.

Ibukun writes from Ifako-Ijaiye.

 

Why Ifako-Ijaiye's Voice Is Louder At The Lagos Assembly: The Jah Factor
By Ibukun Simon

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Lack of Understanding or Legitimate Concern? Otti’s Defence of Tinubu’s Tax Reform Sparks National Debate

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Lack of Understanding or Legitimate Concern? Otti’s Defence of Tinubu’s Tax Reform Sparks National Debate

By George Omagbemi Sylvester | SaharaWeeklyNG

“Abia Governor Alex Otti argues critics misunderstand the overhaul of Nigeria’s tax laws, but the controversy reveals deeper anxieties about governance, transparency and economic strain.”

When Abia State Governor Alex Otti publicly defended President Bola Ahmed Tinubu’s newly enacted tax reform laws on February 13, 2026, he did more than just push back at critics, he threw the spotlight back on a fulcrum issue dividing Nigeria’s political and economic classes. Otti’s assertion that Nigerians attacking the tax policy “lack understanding” crystallises a broader fracture in public discourse over fiscal policy, governance and the future of the Nigerian economy.

The comments from Governor Otti came amid an intensifying national conversation over sweeping tax reforms signed into law in June 2025, designed to modernise Nigeria’s tax architecture and expand revenue mobilisation. These reforms (long in the making and championed by a Presidential Fiscal Policy and Tax Reforms Committee chaired by Prof. Taiwo Oyedele) mark the most far‑reaching overhaul of federal tax laws in decades. They include restructuring the Federal Inland Revenue Service into the National Revenue Service (NRS), establishing a Tax Appeal Tribunal and Ombudsman Office, and unifying revenue collection frameworks to improve transparency and efficiency.

Governor Otti’s praise for the new legislation resonated with elements of his own fiscal thinking. Drawing on economic positions he articulated nearly a decade ago, he argued that key principles now entrenched in the law reflect sound fiscal reasoning and long‑standing proposals to strengthen Nigeria’s economic foundations. “Almost 10 years ago, I wrote about the fiscal side of things,” Otti said. “When I read the new tax reform law, I saw many of those arguments reflected in it. I thank Prof. Oyedele. When people attack him, they don’t understand.”

Yet, while Otti’s intervention was meant to de‑escalate public criticism, it instead exposed how complex and emotionally charged the issue of taxation has become in Nigeria. Critics, both inside and outside government, argue that the reforms have not been adequately explained to citizens and that many fear the measures will aggravate hardship amid already high costs of living. One prominent voice of dissent, fiscal policy analyst Aborisade, warned that without transparency and clear communication on how tax revenues will be collected and returned to the people, “these reforms risk becoming deeply unpopular.” Critics also highlight that any tax increase implemented without demonstrable improvements in public services could fuel resentment and mistrust in governance.

That mistrust is not abstract. For years, Nigeria has struggled with weak tax compliance, low revenue‑to‑GDP ratios compared with other emerging economies, and public scepticism over how government revenues are utilised. Many Nigerians remember episodes where policy changes were not accompanied by visible improvements in infrastructure, healthcare or power delivery, reinforcing the belief among skeptics that new taxes equate to greater burden with little reward.

For supporters like Otti and others in government policy circles, the reforms represent a long‑overdue attempt to widen the tax net and reduce Nigeria’s chronic dependence on volatile oil revenues. Advocates argue that a modernised tax system can enhance domestic revenue mobilisation, reduce fiscal deficits, and create a more resilient economy. They point out that reforms provide exemptions and reliefs for low‑income earners and small businesses and are aimed at building a fairer, more transparent system for all stakeholders.

Still, bridging the gap between these competing narratives is challenging. Opposition voices contend that even well‑designed tax policy may fail if the state lacks the capacity to implement it equitably or if the public’s confidence in leadership remains weak. “Without accountability and clear benefits for their contributions, any tax reform risks becoming deeply unpopular,” Aborisade emphasised, warning that heavy taxation without trust can fracture the social contract.

The debate over Tinubu’s tax reform illustrates a deeper truth about contemporary Nigeria: that economic policy no longer exists in a vacuum but is deeply intertwined with public sentiment, political legitimacy, and social cohesion. As one respected economist put it, “Taxation is not just a fiscal tool, it is a trust‑building exercise between the state and its citizens.” When that trust is fragile, even technically sound reforms can be seen as punitive rather than constructive.

Analysts suggest that meaningful public engagement (including sustained information campaigns, transparent revenue utilisation reporting and constructive dialogue with civil society) is essential to soothe anxieties and build confidence in the new system. Without this, what began as an effort to stabilise public finances could widen political and social divides.

In defending the tax reforms, Governor Otti has framed the challenge as one of comprehension rather than critique. But the controversy unfolding across Nigeria is not simply about misunderstanding; it underscores a profound gap between policy design and public perception. For a reform of this magnitude to succeed, Nigerians must be assured not only of its economic merits, but also of its fairness, transparency and tangible impact on everyday lives.

As the implementation phase continues through 2026 and beyond, the Tinubu administration, state governments and economic stakeholders face the critical task of translating legislative change into broader public trust – a task as difficult as any technical reform the tax laws themselves seek to achieve.

 

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Cubana Chief Priest Backs Tinubu Ahead of 2027, Signalling Shift in Celebrity Political Alignments

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Cubana Chief Priest Backs Tinubu Ahead of 2027, Signalling Shift in Celebrity Political Alignments

By George Omagbemi Sylvester | SaharaWeeklyNG

“Socialite’s public declaration underscores growing intersection of business, entertainment and electoral politics as Nigeria inches toward another high-stakes presidential race.”

Cubana Chief Priest Backs Tinubu Ahead of 2027, Signalling Shift in Celebrity Political Alignments

A prominent Nigerian socialite and nightlife entrepreneur, Pascal Okechukwu (popularly known as Cubana Chief Priest) has publicly declared his support for President Bola Ahmed Tinubu ahead of the 2027 presidential election, in a move that has stirred debate across Nigeria’s political and social media landscapes.

 

The declaration emerged in early February 2026 through a series of Instagram posts and public exchanges with critics and followers. In those posts, the celebrity businessman stated unequivocally that he would align himself with Tinubu’s political camp and work against the anticipated presidential bid of former Anambra State governor and Labour Party figure, Peter Obi.

 

Cubana Chief Priest, who commands a large following across Nigeria’s entertainment and hospitality sectors, framed his decision as both a political and economic calculation. In one exchange, he argued that as an employer and businessman, he preferred collaboration with the incumbent administration rather than opposition politics.

 

He also publicly declared that he and his family had chosen to “stay with the moving train” of Tinubu’s “Renewed Hope” agenda, signalling clear political alignment with the ruling All Progressives Congress (APC).

The shift is politically significant because the socialite had previously been associated with Peter Obi during the 2023 presidential election cycle. In his own words, he acknowledged that he worked for Obi during that campaign, even while holding an advisory role to an APC-aligned state government.

His new stance therefore represents a notable reversal, particularly within the South-East business community, where Obi enjoyed strong support during the last election.

 

The controversy surrounding the declaration intensified after an online clash between Cubana Chief Priest and social commentator Isaac Fayose, the brother of former Ekiti State governor Ayodele Fayose. The dispute centred on the socialite’s decision to align with Tinubu’s political movement, with Fayose accusing him of opportunism. In response, Cubana Chief Priest defended his position, arguing that political alignment was a practical choice for a businessman responsible for large-scale employment.

 

He also linked his support for the APC government to broader political objectives, including the potential release of detained pro-Biafra leader Nnamdi Kanu, stating that such outcomes were more achievable from within the ruling political structure than from opposition ranks.

Beyond social media statements, reports indicate that Cubana Chief Priest has expressed interest in running for a seat in the House of Representatives in 2027 under the APC platform, suggesting that his endorsement of Tinubu is part of a deeper political ambition rather than a mere celebrity opinion.

 

News reports also describe his announcement of political plans and explicit backing of Tinubu as part of the emerging alignment of business figures with the president’s second-term project.

The development coincides with political moves by his associate, the businessman Obinna Iyiegbu, popularly known as Obi Cubana, who has also been linked to pro-Tinubu political structures ahead of 2027.

This clustering of influential entrepreneurs around the ruling party has prompted renewed discussion about the growing role of celebrity endorsements and business interests in Nigeria’s electoral politics.

 

Political analysts say such endorsements, while often symbolic, can influence public perception, especially among young voters who are heavily engaged with celebrity culture. As political scientist Larry Diamond once observed, “In transitional democracies, informal power networks (business elites, media figures, and celebrities) can shape political outcomes as much as formal party structures.”

 

Similarly, Nigerian scholar Professor Jibrin Ibrahim has argued that “the fusion of business capital and political capital is one of the defining features of contemporary Nigerian politics.”

 

However, critics warn that celebrity political alignments rarely translate into structured policy debates or ideological clarity. Economist Pat Utomi has repeatedly cautioned that “Nigeria’s democracy suffers when politics becomes an extension of celebrity influence rather than a contest of ideas and development strategies.”

 

For now, Cubana Chief Priest’s declaration remains a personal political endorsement rather than an official party appointment at the national level. Yet its timing (more than a year before the formal campaign cycle for 2027) illustrates how early positioning has already begun among Nigeria’s political and business elites.

 

Key figures involved:

 

Pascal Okechukwu (Cubana Chief Priest): Socialite and businessman who declared support for Tinubu.

 

President Bola Ahmed Tinubu: Incumbent Nigerian president expected to seek re-election in 2027.

 

Peter Obi: Former Anambra governor and likely opposition contender.

 

Isaac Fayose: Social commentator who criticised the endorsement.

 

Obinna Iyiegbu (Obi Cubana): Business associate linked to pro-Tinubu political structures.

 

As Nigeria moves gradually toward the 2027 electoral cycle, the intersection of celebrity influence, business interests and party politics is likely to intensify, raising fresh questions about the nature of democratic mobilisation in Africa’s most populous nation.

 

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