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World Bank loan to be used to pay N8,000 to 12 million families for six months, says Tinubu

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President Bola Tinubu has indicated that his administration will pay N8,000 to 12 million Nigerian families for six months to cushion the effects of petrol subsidy removal.

Tinubu had announced the removal of subsidy on petroleum products during his inaugural presidential on May 29 causing the prices of petroleum products to jump over 200% and an increase in food prices and transportation.

Amid threats by labour unions to down tools over the rising cost of living, Tinubu maintained that the government has plans to address citizen’s needs.

On Thursday, Tinubu wrote to the Senate seeking the approval of the Senate for $8OO million palliative loan from the World Bank.

“You may also wish to know that the purpose of the facility is to expand coverage of shock-responsive safety net supports for all and vulnerable Nigerians and the cost of meeting basic needs,” Tinubu said in a letter to the Senate.

Tinubu explained that “under the conditional cash transfer window of the programme, the federal government of Nigeria will transfer the sum of 8000 a month to 12 million poor and low-income households for a period of six months with a multiplying effect on about 60 million individuals.”

The World Bank facility, Tinubu said, would be utilised to scale up the National Social Safety Net Programme.

“In order to guarantee the credibility of the process, digital transfers will be made directly to beneficiaries accounts and mobile wallets,” Tinubu said.

“It is expected that the programme will stimulate economic activities in the informal sector and improve nutrition, health, and education outcomes for beneficial households.

“Giving the above, I wish to invite the senate to kindly grant approvals for additional loan facilities USD800milliom to be secured from world bank for the national social safety net programme.”

Tinubu on Wednesday asked the House of Representatives to amend the 2022 Supplementary Appropriations Act to provide N500 billion to fund palliative measures against the impact of fuel subsidy removal.

Tinubu is seeking to extract N500 billion from the N819,536,937,813 supplementary budget.

Former President Muhammadu Buhari introduced the supplementary budget in 2022 for capital projects due to the impact of the floods on farmlands and road infrastructure.

The life span of the budget has since been extended till 31 December.

“Thus, the sum of N500 billion has been extracted from the 2022 supplementary budget of N819 billion for the provision of palliative. I hope the House will consider this request expeditiously,” Tinubu said.

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Empowerment

Senator Jibrin Isah Echocho’s Legacy of Compassion Reshapes Kogi East

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Jibrin Isah Echocho

In an era where public service is often measured by fleeting promises, Senator Jibrin Isah Echocho is charting a different course, one rooted in tangible impact and enduring compassion.
The Igala Vanguard, a prominent socio-cultural group in Kogi East, has applauded the senator’s transformative approach to governance, emphasizing his unwavering commitment to healthcare access and economic empowerment.
Senator Echocho’s intervention in settling hospital bills at three major general hospitals has become a beacon of hope for struggling families.
For many, healthcare costs often force heartbreaking choices between medical treatment and basic survival. By lifting this burden, the senator has restored dignity and well-being to vulnerable residents.

“This isn’t just about paying bills; it’s about saving lives and ensuring no one is denied care because of poverty,” remarked Engineer Lawrence Akpa, leader of the Igala Vanguard.

The initiative has triggered discussions about sustainable healthcare reforms and inspired calls for other leaders to adopt similar strategies to fortify public health systems.

But Senator Echocho’s impact stretches beyond healthcare. His empowerment programs, targeting widows, youth, and low-income earners—are equipping citizens with the tools to rebuild their lives. From vocational training and small business grants to educational scholarships, the senator is laying the foundation for long-term economic resilience.

“These programs are creating a ripple effect,” said Akpa. “They are breaking cycles of dependency and giving people the means to take charge of their futures.”

Widows who once faced economic exclusion now run thriving businesses. Youths who lacked direction are mastering trades. Students who risked dropping out are now chasing academic dreams. The senator’s interventions are not just short-term fixes but blueprints for self-reliance.
Senator Echocho’s story has become a rallying point for leadership with empathy. The Igala Vanguard is now calling on other political leaders to replicate his model of service—one that prioritizes impact over optics.

“What he’s doing in Kogi East transcends politics,” Akpa added. “It’s about restoring faith in governance and proving that leadership can indeed be a tool for change.”

Community voices echo this sentiment. Residents have described the senator’s programs as a lifeline, particularly in rural areas where poverty and lack of infrastructure pose daily challenges.
While celebrating these achievements, the Igala Vanguard also expressed optimism about future initiatives. They urged Senator Echocho to sustain the momentum and expand his programs to reach even more underserved communities.

The group reaffirmed its support for his vision, stressing the need for collective efforts among stakeholders to address lingering socio-economic disparities in the region.
As Kogi East moves forward, Senator Echocho’s leadership offers a powerful reminder of what governance can achieve when anchored in compassion, vision, and action. His legacy, still unfolding, promises not just relief but renewal for the people of Kogi East.

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Empowerment

Lawan Urges Holistic Economic Reforms Beyond Temporary Relief Measures

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Ahmad Lawan

Former President of the Senate, Ahmad Lawan, has sounded the alarm over Nigeria’s soaring interest rates, which he described as a chokehold on entrepreneurship, agricultural growth, and sustainable development.
Speaking in Yobe North during a food distribution exercise targeting vulnerable communities, Lawan highlighted the broader structural challenges stifling Nigeria’s economic potential. While acknowledging the importance of providing immediate relief to struggling citizens, he advocated for transformative policies to address the root causes of economic hardship.
Lawan’s remarks signal a call for a shift from reliance on short-term interventions to sustainable economic strategies. His emphasis on affordable financing reflects the need for systemic changes to empower small businesses and farmers.
A statement by his is Media Adviser, Dr. Ezrel Tabiowo, quoted him to have said,“We can’t continue to manage hunger with handouts,” Lawan stated. “The focus must be on creating an environment where businesses and farmers thrive independently through affordable credit facilities and secure environments.”
According to Lawan, Nigeria’s commercial banks charge prohibitive interest rates of up to 34 percent, a figure he argues discourages investments and keeps the nation’s productive sectors in a state of stagnation.
“In countries where businesses flourish, loans are accessible at less than 1 percent interest rates. We must adopt similar practices to unlock Nigeria’s economic potential,” he said.
Lawan also linked food insecurity to rising insecurity, especially in northern Nigeria, where farmers are increasingly unable to access their farmlands due to banditry. He urged the federal government to intensify efforts to restore peace and create enabling conditions for agricultural revival.
“Food security is a matter of national security,” he declared. “We cannot expect sustainable growth when our farmers are unable to cultivate their lands due to fear of attacks.”

Acknowledging the reforms initiated by President Bola Tinubu’s administration, Lawan expressed optimism for economic improvements by 2025.
However, he stressed the need for state governments to complement federal efforts by implementing local strategies that promote food security, job creation, and access to credit.
“Governance cannot be centralized,” Lawan said. “States must take ownership of development plans tailored to their specific challenges and strengths.”
Lawan’s critique of Nigeria’s banking system underscores the need for urgent reforms to lower borrowing costs and expand access to financing for small and medium enterprises.
“The current interest rates imposed by commercial banks are callous and unsustainable,” he argued. “Unless we reform our financial systems to support entrepreneurs and farmers, our fight against poverty will remain a losing battle.”
While the food distribution organized by the Senator Ahmad Ibrahim Lawan (SAIL) Foundation offered short-term relief, Lawan insisted that Nigeria’s long-term economic trajectory depends on policies that promote self-reliance.
“Temporary relief measures have their place, but our focus must be on equipping Nigerians to build sustainable livelihoods,” he emphasized.
Lawan’s advocacy highlighted the intersection of economic policy, security, and agricultural development. His push for affordable loans, agricultural security, and federal-state collaboration underscores the urgency of addressing Nigeria’s economic vulnerabilities.
As Nigeria grapples with inflation and food insecurity, Lawan’s call for reforms sets the stage for debates on how to transition from crisis management to sustainable economic growth.

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Empowerment

Peter Obi Empowers 25 youths with N75m, Urges them to Embrace Hard Work, Integrity

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The Labour Party (LP) presidential candidate in the 2023 general elections Peter Obi has admonished youths to imbibe the spirit of hardwork, discipline and integrity as sure parth to success.

Obi who is also a former Governor of Anambra State spoke recently when he held an inspiring interactive session with youths in Onitsha, Anambra State, at the invitation of the Faithspiration Initiative.
His empowering message centered on the importance of hard work, discipline, and integrity.
Obi reminded the youths that success in life is not determined by one’s background but by an unwavering commitment to doing the right things and working tirelessly towards achieving goals.
He shared his personal journey, explaining that although he was born and raised in Onitsha, success did not come easy.
He underscored that like many of them, he too faced challenges but was able to overcome them through hard work and discipline.
“There is no shortcut to success,” Obi stated. “It is not where you come from, but how determined you are to do the right things and work hard that truly counts.”
To further support the youths, Obi provided N300,000 each to 25 individuals to help them further their productive ventures, and pledged to continue empowering two more youths every month, starting in January.

In closing, Obi reiterated his belief in the potential of Nigerian youth to drive change. “A New Nigeria remains POssible,” he affirmed.

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