…rolls out 35 new buses to commute 7,000 people daily
The Speaker of the House of Representatives, Rep. Femi Gbajabiamila, has launched the second edition of the GbajaRide community transportation initiative as part of plans to ease the movement of residents and students in Surulere, Lagos, particularly due to the hardship occasioned by the ongoing currency swap policy and fuel scarcity.
At the launch of the second phase of the GbajaRide initiative at the Teslim Balogun Stadium in Surulere on Tuesday, Gbajabiamila announced that a total of 15 medium-sized buses with a 26+1 capacity and 20 air-conditioned 18-seat buses were earmarked for the transportation scheme.
He said the two different sets of buses would commute an estimated 5,000 Surulere residents and 2,000 students on daily trips, noting that “we intend to add more buses to the service.”
The GbajaRide scheme was first launched in June 2018, when the Speaker was serving as the House Leader in the 8th Assembly. It kicked off with 30 brand new buses, 160 motorcycles, and 25 tricycles, used to empower and ease the movement of residents of Surulere.
He said: “GbajaRide is part of the relief designed to provide transportation service for the people of Surulere at a discounted rate. We must commend the government of Governor Babajide Olusola Sanwo-Olu for the rollout plans to ease the pains Lagosians go through during this period.
“While GbajaRide will be moving residents of Surulere at a discounted rate, the transport service will move all our secondary school students, teachers and residents of age 70 and above from designated bus stops in Surulere free of charge.”
“The GbajaRide transport service in partnership with Lagos State Government will key into existing rules of engagement of LAMATA on routes and operations that will meet the transportation needs of the people of Surulere.”
The Speaker said, learning from the first phase, GbajaRide was now structured under a proper management service that would run the new service in partnership with the Lagos State Government and with the cooperation of members of the Lagos State Park and Garage Administrators.
Gbajabiamila noted that as the representative of his people, he had a good understanding of the current hardship and discomfort being faced by many Nigerians, including his constituents.
“The House of Representatives under my leadership has been on the side of the people, working tirelessly to rescue you from economic saboteurs seeking to derail the successes of President Buhari and the APC administration. I am glad that the judiciary also confirmed our position on the implementation of the naira redesign policy of the central bank. The good news is that relief is underway.”
He said as Nigerians prepare to vote on February 25 and March 11, the development of Surulere, Lagos State, and Nigeria will be on the ballot for consideration, and that the sustenance of the transportation initiative would “be guaranteed if we choose APC in the forthcoming elections.”
“I strongly believe that residents of Surulere, irrespective of tribe or religion, will affirm and attest to all the developmental projects facilitated in Surulere 1 and 2 Federal Constituencies and beyond.
“Surulere is enjoying all these developments because our community has enjoyed the support of Asiwaju Bola Tinubu from 1999 till date. It is our time to return this support and love to the man we believe will bring relief and succour to many Nigerians when elected.
“As we all go out on February 25, 2023, I urge you to vote APC in the Asiwaju for President, Rt. Hon. Wasiu Sanni Eshinlokun for Senate and my humble self – Femi Gbajabiamila – for House of Representatives. While on March 11, 2023, we should vote APC to return our Governor, Mr Babajide Olusola Sanwo-Olu and Hon. Desmond Elliot back into office.”
Gbajabiamila also urged the people of Surulere and Lagos Park and Garage committee members to cooperate with the management of the GbajaRide Transport service for ease of movement of residents and students.
“I also urge the management service and drivers of GbajaRide to make safety a top priority, and I pray that GbajaRide will be safe from accidents and our people will find joy in subscribing to GbajaRide any day any time. God bless you all.”
Also at the function was the Chairman House of Representatives Committee on Defence, Rep. Jimi Benson; APC Lagos State Chairman, Hon Cornelius Ojelabi; Special Adviser to Lagos Governor on Transportation, Hon Sola Giwa; SSA to the Lagos Governor on Sports, Mr. Anthony Adeyinka; MD of Lagos State Housing Development Corporation, Hon. Ayo Joseph; the Oniba of Iba, Lagos, Oba Suleiman Raji; the Onikate of Ikate-Surulere, Oba Lateef Adams; Secretary of Lagos GAC, Alhaji Mutiu Are; Member of Lagos GAC, Chief Olorunfunmi Bashorun, among other dignitaries.
Signed:
Lanre Lasisi, Special Adviser on Media and Publicity to the Speaker, House of Representatives, Federal Republic of Nigeria.
Effective AfCFTA implementation will boost Africa’s economy and global competitiveness
Acting Executive Secretary of the Economic Commission for Africa (ECA), Antonio Pedro, has urged African nations to accelerate implementation of the African Continental Free Trade Area (AfCFTA) in order to become more resilient and globally competitive.
“Only through an accelerated and effective implementation of the AfCFTA can Africa build sufficient shock absorbers to build resilience,” said Mr Pedro in his remarks at the 42nd Ordinary Session of the African Union Executive Council meeting in Addis Ababa on February 15, 2023.
Launched in 2019 to establish a unified market of 1.3 billion people and a GDP of around US$ 3.4 trillion, the AfCFTA is poised to become the world’s largest free trade area with 55 member states.
Mr Pedro deplored the fact that the COVID-19 pandemic and the Russia-Ukraine war have caused a state of crisis, pushing 55 million people below the poverty line and exacerbating inequalities.
High global inflation has also led to tighter financial conditions. Mr Pedro said despite Africa’s economic growth of 3.9% in 2023 and 2024, more still needs to be done to compensate for the losses experienced in the past three years.
The Acting Executive Secretary pointed out that by fast-tracking the implementation of the AfCFTA, Africa can provide solutions to the global challenges of supply chain disruptions, food insecurity, climate change, and migration.
Highlighting that the AfCFTA provides the economy of scale to invest in manufacturing and increased intra-Africa trade, Mr. Pedro said the free trade area would bring supply chains closer to home and inject self-sufficiency in essential products such as medicines, food and fertilizers.
“By providing more opportunities for women and the youth, the AfCFTA helps reduce inequality and poverty, and improves inclusion,” he said.
However, Mr Pedro highlighted two challenges that require immediate attention – ratification and implementation – and appealed to the ten African countries that have not yet ratified the agreement to do so soon.
Commenting on resource-based industrialization, Mr Pedro said this should focus on value addition, smart operationalisation of local content policies, and tapping into global value chains.
He cited the Battery and Electric Vehicle (BEV) sector as one that could enable the continent to tap into a global value expected to reach US$8.8 trillion in the next three years and US$46 trillion by 2050. The ECA is supporting BEV value chain with “strong political will from the Democratic Republic of Congo and Zambia,” said `Mr Pedro.
ECA is also partnering with stakeholders to support the transboundary agro-industry park and special economic zone involving Zambia and Zimbabwe, which could address food security concerns and tap into Africa’s food import market valued at about US$90 billion per year.
Mr Pedro pledged ECA’s continued support and collaboration with the African Union and other stakeholders to transform Africa into a globally competitive investment destination.
-Ends-
KDSG says no meeting has held this week between FG and governors
A few hours after the Supreme Court adjourned the currency redesign case today, The Cable, a respected publication, published what it described as an exclusive story regarding the intentions of the Federal Government on the matter.
Malam Nasir El-Rufai would like to clarify that The Cable has been misled by its sources on this issue. There has been no meeting this week between the FG and either the Nigerian Governors’ Forum (NGF) or the Progressive Governors Forum (PGF), not to talk of one lasting till the wee hours of today, Wednesday, 15 February 2023.
Rather, senior officials of the FG reached some governors, including Malam Nasir El-Rufai, on phone to initiate discussions on a possible out of court settlement. The terms they proposed were to allow only the old N200 note to remain legal tender and be circulated by the CBN till 10 April 2023. They claimed that the CBN had already destroyed the old N500 and N1000 notes that had been deposited, but that those persons who still held the old notes could redeem them up to 10 April 2023.
These were not considered as serious proposals, for obvious reasons. Circulating the old N200 notes alone would not be sufficient to relieve widespread human suffering in Kaduna State, and indeed in Nigeria today.They knew that and that is why they falsely claimed that the CBN had already destroyed the old N500 and N1000 notes. This is contrary to the fact available to the governors to the effect that the old notes were in the custody of commercial bank branches throughout Nigeria until the evening of Monday, February 13, and not a single N500 or N1000 had been destroyed.
It is also a non-starter to insist on a new cut off date without first assuring that sufficient new notes would have been printed and circulated. Information available to the governors also indicates that the Mint will need at least 12 months to print the minimum amount of N1 trillion needed to ensure a functioning trade and exchange environment in Nigeria.
The tabling of false facts, inadequate solutions to the sufferings of our people, and the bad faith that some of the FG negotiators displayed in our phone conversations and chats have now been taken further in leaking a false account and context to a respected medium. The plaintiff governors rejected the draft proposal as insincere, and invested our hopes in the Supreme Court of Nigeria.
Malam Nasir El-Rufai will be addressing the people of Kaduna State on this currency redesign mess, the consequences of the extension of the injunction of the Supreme Court of Nigeria, and related matters tomorrow. But the Kaduna State Government feels it is important tonight not to allow an exclusive falsehood to stand, or even gain the slightest traction. This statement is therefore issued to put the records straight.
Signed
Muyiwa Adekeye
Special Adviser to the Governor (Media & Communication)
15th February 2023
PRESIDENT BUHARI CELEBRATES MAMA OLUBISI OSINBAJO AT 90
President Muhammadu Buhari extends hearty felicitations to the Osinbajo family on the 90th birthday celebration of their matriarch, Mama Olubisi, February 16, 2023.
In a letter he personally signed, the President thanked the celebrant for giving the country illustrious offspring like Vice President ‘Yemi Osinbajo, and his other siblings.
Full text of the letter below:
“It gives me immense pleasure to felicitate with our dear Mama Olubisi Osinbajo, as she turns 90, entering the rare ranks of a nonagenarian.
“It is nothing but the sheer grace of God that spares a person to live up to 90, and we are thankful to the Almighty God that Mama has not only reached the milestone, she’s doing so in sound mind, and in good health, surrounded by accomplished offspring and doting family members.
“On behalf of myself, my family, and Nigerians, we rejoice with Mama, and wish her continued grace and joy in the Lord, all the days of her life. Amen.
“I am particularly pleased that the matriarch of the Osinbajo Family had thought it worthy to establish the Olubisi Osinbajo Foundation, which caters for the well-being of widows and families of clergymen. It is an initiative I recommend to other endowed people in our society, as it has lofty rewards not only here, but also in the hereafter.
“Thank you Mama for giving Nigeria the gift of your son and our Vice President, Professor ‘Yemi Osinbajo, SAN, and his other illustrious siblings.
“Please accept my hearty congratulations. Happy 90th birthday anniversary.”
Femi Adesina
Special Adviser to the President
(Media and Publicity)
February 15, 2023
PRESIDENT BUHARI PAYS TRIBUTE TO SENATOR MAMORA AT 70
President Muhammadu Buhari felicitates with Honourable Minister of Science, Technology and Innovation, Senator Adeleke Olorunnimbe Mamora as he turns 70.
In a video recording to mark the anniversary, President Buhari acknowledges the contributions of the Senator to the elections that brought him to office in 2015 and 2019 adding that “Dr Mamora cannot therefore be separated from my political success.”
The full text of the video message is reproduced below:
“Excellencies, Distinguished Ladies and Gentlemen.
“It is my pleasure and delight to pay this tribute to my Minister, Senator Dr Adeleke Mamora, as he turns 70 on February 16, 2023.
“I consider Dr Mamora a co-traveler in my political journey, having served as Deputy Director General of the APC Presidential Election Campaign Committee in 2015, and 2019, respectively.
“These were elections that brought me to office as President, and renewal of mandate for the second term. Dr Mamora cannot therefore be separated from my political success, as he worked with his heart, mind and strength for electoral success. Thank you very much.
“The medical doctor-turned politician has made a name as Speaker, Lagos State House of Assembly, a Senator of the Federal Republic, Managing Director, National Inland Waterways Authority (NIWA), Minister of State for Health, and now Minister of Science, Technology and Innovation. Thank you for service to our party, the APC, and to Nigeria, our own dear native land.
“Happy 70th birthday. Best wishes to your dear wife, children and grandchildren.
“Congratulations and happy 70th birthday.”
Femi Adesina
Special Adviser to the President
(Media and Publicity)
February 15, 2023
NATIONAL BROADCAST BY HIS EXCELLENCY MUHAMMADU BUHARI, PRESIDENT, FEDERAL REPUBLIC OF NIGERIA ON THE CHALLENGES OF THE CURRENCY SWAP AND STATE OF THE NATION, ON 16th FEBRUARY, 2023
My Dear Compatriots,
I have found it necessary to address you today, on the state of the nation and to render account on the efforts of our administration to sustain and strengthen our economy, enhance the fight against corruption and sustain our gains in the fight against terrorism and insecurity which has, undoubtedly, been impacted by several internal and external factors.
2.Particularly, I am addressing you, as your democratically elected President, to identify with you and express my sympathy, over the difficulties being experienced as we continue the implementation of new monetary policies, aimed at boosting our economy and tightening of the loopholes associated with money laundering.
3.Let me re-assure Nigerians, that strengthening our economy, enhancing security and blockage of leakages associated with illicit financial flows remain top priority of our administration. And I shall remain committed to my oath of protecting and advancing the interest of Nigerians and the nation, at all times.
4.In the last quarter of 2022, I authorised the Central Bank of Nigeria (CBN) to redesign the N200, N500, and N1000 Nigerian banknotes.
5.For a smooth transition, I similarly approved that the redesigned banknotes should circulate concurrently with the old bank notes, till 31 January 2023, before the old notes, cease to be legal tender.
6.In appreciation of the systemic and human difficulties encountered during implementation and in response to the appeal of all citizens, an extension of ten days was authorized till 10th February, 2023 for the completion of the process. All these activities are being carried out within the ambit of the Constitution, the relevant law under the CBN Act 2007 and in line with global best practices.
7.Fellow citizens, while I seek your understanding and patience during this transient phase of implementation, I feel obliged to avail you a few critical points underpinning the policy decision. These include:
- The need to restore the statutory ability of the CBN to keep a firm control over money in circulation. In 2015 when this administration commenced its first term, Currency-in-Circulation was only N1.4trillion.
- The proportion of currency outside banks grew from 78%in 2015 to 85% in 2022. As of October 2022, therefore, currency in circulation had risen to N3.23 trillion; out of which only N500 billion was within the Banking System while N2.7 trillion remained permanently outside the system; thereby distorting the financial policy and efficient management of inflation;
- The huge volume of Bank Notes outside the banking system has proven to be practically unavailable for economic activities and by implication, retard the attainment of potential economic growth;
- Economic growth projections make it imperative for government to aim at expanding financial inclusion in the country by reducing the number of the unbanked population; and
- Given the prevailing security situation across the country, which keeps improving, it also becomes compelling for government to deepen its continuing support for security agencies to successfully combat banditry and ransom-taking in Nigeria
8.Notwithstanding the initial setbacks experienced, the evaluation and feedback mechanism set up has revealed that gains have emerged from the policy initiative.
9.I have been reliably informed that since the commencement of this program, about N2.1 trillion out of the banknotes previously held outside the banking system, had been successfully retrieved.
10.This represents about 80% of such funds. In the short to medium and long terms, therefore, it is expected that there would be:
- A strengthening of our macro economic parameters;
- Reduction of broad money supply leading to a deceleration of the velocity of money in the economy which should result in less pressures on domestic prices;
- Lowering of Inflation as a result of the accompanying decline in money supply that will slow the pace of inflation;
- Collapse of Illegal Economic Activities which would help to stem corruption and acquisition of money through illegal ways;
- Exchange Rate stability;
- Availability of Easy Loans and lowering of interest rates; and
- Greater visibility and transparency of our financial actions translating to efficient enforcement of our anti- money laundering legislations.
11.I am not unaware of the obstacles placed on the path of innocent Nigerians by unscrupulous officials in the banking industry, entrusted with the process of implementation of the new monetary policy. I am deeply pained and sincerely sympathise with you all, over these unintended outcomes.
12.To stem this tide, I have directed the CBN to deploy all legitimate resources and legal means to ensure that our citizens are adequately educated on the policy; enjoy easy access to cash withdrawal through availability of appropriate amount of currency; and ability to make deposits.
13.I have similarly directed that the CBN should intensify collaboration with anti-corruption agencies, so as to ensure that any institution or person(s) found to have impeded or sabotaged the implementation should be made to bear the full weight of the law.
14.During the extended phase of the deadline for currency swap, I listened to invaluable pieces of advice from well meaning citizens and institutions across the nation.
15.I similarly consulted widely with representatives of the State Governors as well as the Council of State. Above all, as an administration that respects the rule of law, I have also noted that the subject matter is before the courts of our land and some pronouncements have been made.
- To further ease the supply pressures particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender.
17.In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.
18.Considering the health of our economy and the legacy we must bequeath to the next administration and future generations of Nigerians, I admonish every citizen to strive harder to make their deposits by taking advantage of the platforms and windows being provided by the CBN.
19.Let me assure Nigerians that our administration will continue to assess the implementation with a view to ensuring that Nigerians are not unnecessarily burdened. In this regard, the CBN shall ensure that new notes become more available and accessible to our citizens through the banks.
20.I wish to once more appeal for your understanding till we overcome this difficult transient phase within the shortest possible time.
21.Fellow citizens, on the 25th of February, 2023 the nation would be electing a new President and National Assembly members. I am aware that this new monetary policy has also contributed immensely to the minimization of the influence of money in politics.
22.This is a positive departure from the past and represents a bold legacy step by this administration, towards laying a strong foundation for free and fair elections.
23.I urge every citizen therefore, to go out to vote for their candidates of choice without fear, because security shall be provided and your vote shall count.
24.I however admonish you to eschew violence and avoid actions capable of disrupting the electoral processes. I wish us all a successful General Elections.
Thank you for listening. God bless the Federal Republic of Nigeria.
PRESS STATEMENT
LET US KEEP CALM AND MAINTAIN THE PEACE
I am saddened by reports of violent protests in parts of our country today especially in Delta, Oyo, Kwara and Edo states. In Delta, there were reports of arson and destruction of bank branches.
I sympathise with all Nigerians who are going through the pains of not being able to get money from banks and ATM points to meet their basic daily needs. I also sympathize with the banks for being victims of the CBN currency redesign policy.
Be rest assured that this phase will soon pass away as our governments at both the federal and state levels are working to surmount the current challenges.
With the Supreme Court reaffirming its order of 8 February on monetary authorities to allow the old and new Naira notes to circulate together, I believe a solution is right on the way and the scarcity of Naira notes will soon be over.
I am happy to note the various measures being put in place by many of our Governors to cushion the effect of the scarcity of Naira on households.
I want to appeal to our young people not to take law into their hands through destructive protests.
We feel your pains and frustration but destroying lives and properties will not solve any problem.
Rather, it will only complicate the crisis we have on our hands.
We must keep the peace and remain calm.
Let us not be provoked. Instead, let us cooperate with the government in seeking immediate and lasting solution.
This difficult time shall soon be over. We must keep hope alive as we move forward to a better, stronger and more prosperous Nigeria of our dream.
God bless you all.
Asiwaju Bola Ahmed Tinubu
Presidential Candidate, All Progressives Congress
February 15, 2023
