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Nigeria President Bola Ahmed Tonubu has
2:02
said that the West Africa country has no
2:05
fear over whatever the president of the
2:07
United States Donald Trump is doing.
2:10
Although the Nigeria president did not
2:12
give details what the US president is
2:15
doing that the nation has no fear of.
2:17
But President Anubu at a meeting with
2:20
political leaders at the state house in
2:22
Abuja on Tuesday said that the country
2:25
has met its revenue target for 2025 from
2:28
non-oil revenue sources saying if
2:31
Nigeria as at August has already met
2:34
revenue target from non-oil products the
2:37
country has no fear of whatever the
2:39
president of the United States US is
2:41
doing adding that the economy of the
2:44
country is now stabilized saying the nar
2:47
currency is now performing well in the
2:49
foreign exchange market with a claim he
2:52
met dollar exchange rate at 1,900 naira
2:55
per $1 on May 29th, 2023 when he took
2:59
over as the president of the West Africa
3:02
country, praising himself that he has
3:04
worked hard to reduce the foreign
3:06
exchange rate from 1,900 naira to 1,450
3:11
naira per $1. A claim we fact check to
3:14
be very incorrect. We observed that
3:16
President Boler Tonubu on May 29th 2023
3:20
met foreign exchange rate at 461 naira
3:24
per $1. On the day of his inauguration,
3:27
President Bola Ahmed Tonugu issued a
3:30
policy statement directing the central
3:32
bank of Nigeria to ensure a unified
3:35
exchange rate. a policy statement that
3:37
made the exchange rate to increase from
3:39
461 naira to 853 naira per $1 at the end
3:45
of 2023. After the president, Boler
3:48
Ahmed Tanubu officially pegged and
3:50
increased the foreign exchange rate from
3:53
461 naira to 750 naira per $1 in his
3:58
2024 budget which made cost of food
4:01
stuffs and other cost of living in the
4:04
country to increase more than 200%. And
4:07
while presenting the 2025 budget,
4:10
President Bola Ahmed Tonubu pegged and
4:12
increased the foreign exchange rate from
4:15
750 naira to 1,500 naira per $1. This
4:20
policy action of the president has since
4:22
made cost of food stuffs and other basic
4:25
necessities in Nigeria to increase
4:27
outrageously more than 700% with no
4:30
reduction till date. like a sache water
4:33
that used to be sold for 5 naira is now
4:36
sold between 20 naira to 50 naira in
4:39
some locations in Nigeria. Details of
4:42
some of President Bola Ahmed Tonubu
4:45
statements as presented by the
4:46
presidential spokesperson Beao Onanuga
4:49
reads verbatim below. President Bola
4:52
Ahmed Tonubu said on Tuesday in Abuja
4:55
that the revenue target for 2025 was
4:58
achieved in August following economic
5:00
reforms focused on stimulating the
5:02
non-oil sector. He said that the bulk of
5:05
the revenue came from the non-oil
5:07
sector. The president assured Nigerians
5:10
that the renewed hope agenda is firmly
5:12
anchored on building critical
5:14
infrastructure, improving health
5:16
facilities, ensuring food sovereignty
5:18
and providing security. He spoke at a
5:21
meeting at the presidential villa with
5:23
the founding members of the defunct
5:25
Congress for progressive change and the
5:27
Bhari Organization led by the former
5:30
governor of Nasarawa State Omaru Tanko
5:32
Al- Makura. President Tonubu said that
5:35
the economy was heading in the right
5:37
direction. The economy is now
5:40
stabilized. Nobody is trading pieces of
5:43
paper for foreign exchange forex
5:45
anymore. The economy is now predictable.
5:49
You do not need to know the CBN governor
5:51
Yi Cardardoso to obtain foreign exchange
5:54
or import goods. What we need now is
5:57
building the ship and the vessels for
5:59
the export of our goods and creating
6:01
more jobs for our people. The president
6:03
noted. He said the federal government
6:06
will establish agricultural
6:08
mechanization centers in all regions of
6:10
the country to build capacity, expand
6:12
cultivation and harvest and guarantee
6:15
food sovereignty. we are going to have
6:18
trainees. That program is our path to
6:20
food sovereignty. Quote, reflecting on
6:23
his long-standing relationship with the
6:25
CPC, President Tonubu described the
6:28
political journey and merger as a sweet
6:31
memory and expressed gratitude to the
6:33
group for their support. When I see
6:35
people like you, I am determined to work
6:38
harder. President Tonubu assured the
6:41
delegation that the legacies of former
6:43
President Muhammadu Buuhari would be
6:45
sustained and immortalized with the
6:46
Buhari House, adding that more members
6:49
of the old CPC would be given
6:51
opportunities to participate in the
6:53
government. Thank you for your patience
6:56
until now. But first of all, we must
6:59
cure the economy and bring hope to the
7:01
people, which is what we stand for.
7:04
Thank you for believing in me, he said.
7:06
The speaker of the house of
7:08
representatives, right honorable
7:10
Tajjudin Abbis thanked President Tonubu
7:12
for his statesmanship and magnanmity
7:14
towards the people and government of
7:16
Katsina state. Abbas thanked the
7:19
president for his vision and
7:20
broad-mindedness in accommodating all
7:22
political stakeholders. The leader of
7:25
the delegation and former governor of
7:27
Nasarawa state, Al-makura said members
7:30
of the former Congress for progressive
7:32
change are committed to the success of
7:33
the APC government. Al- Makura thanked
7:37
the president for his extensive
7:38
participation in the final rights for
7:40
President Buhari. You not only buried
7:43
President Buhari but also honored him
7:45
and ensured a befitting state burial
7:47
with full military honors. Above all,
7:50
your presence throughout the ceremony
7:52
was comforting as it was reassuring.
7:54
Al-Makura stated he assured President
7:57
Tonubu of the group's loyalty and
7:59
support. This is to assure you that we
8:02
believe in your administration and that
8:04
will be our focus and commitment to
8:06
ensure the success of our party and your
8:08
ultimate victory in the 2027 elections.
8:13
the economy stabilized
8:25
piece of paper for exchange rate
8:40
when I took over 1 1.9
8:48
1.45 four five now he's been stabilizing
8:52
there people can predict you don't have
8:54
to know a kadoso before you you you get
8:58
your foreign exchange you get your
9:03
what we need now is building the ship
9:08
for export and import of our goods and
9:11
create job for the people
9:26
many of you had to suffer,
9:38
We know the direction that we should go.
9:47
No, those who may not know who not know
9:50
today I'm standing before you I can brag
9:54
that Nigeria is not borrowing a dying
10:03
the revenue we have met our target of
10:09
for the whole year we met it in August
10:12
I've reviewed this morning.
10:26
If no non oil revenue is going well
10:33
we have no fear of whatever
10:45
I've I've just signed off on a huge
10:53
program that every region we have
11:04
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