President Tinubu’s economic diplomacy Flourishing – Federal Gov’t
President Tinubu’s economic diplomacy Flourishing – Federal Gov’t
Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, says the economic diplomacy carried out by President Bola Tinubu around the world is generating the desired results.
The Minister said this while briefing State House Correspondents after a meeting with the president in Lagos on Sunday.
Edun said the president had embarked on fruitful economic diplomacy on all the continents: Brazil in South America; China and India in Asia as well as Germany and France in Europe, and elsewhere.
He said, as a follow up on economic diplomacy, he led a delegation to Riyadh, Saudi Arabia, recently, to ensure the success of the developing relationship between him and Mohammed bin Salman, the Crown Prince.
The News Agency of Nigeria (NAN) reports the delegation included Sen. Abubakar Bagudu, the Minister of Budget and National Planning and Mr Wale Tinubu, a member of the Presidential Economic Coordination Council.
Others were: Ms Sanyade Okoli, Special Adviser to the President on Finance and the Economy and Mr Muhammad Abdullahi, Deputy Governor, Central Bank of Nigeria (Economic Policy).
The delegation held talks with Saudi EXIM Bank, the Saudi Development Fund and the Saudi Agricultural and Livestock Investment Company (SALIC) to advance ongoing conversations about their investments in Nigeria.
“Twice in the last year, Mr President has been in Saudi Arabia, had meetings with the Crown Prince and talked about trade, economic cooperation, financial cooperation and collaboration.
“We just followed up on some of those leads across the various opportunities for foreign direct investment, trade partnerships and for even financial investment,” said Edun.
He said the Saudi Agricultural Livestock Investment Company had on December 23 increased its investment in Olam by $1.2 billion.
Edun said the president had taken steps to stabilise the Nigerian macroeconomic environment to encourage such investments in the country.
The minister said the takeaways from the visit included prospective investments, foreign exchange and jobs for Nigerians.
“If you look at the demographics of Saudi Arabia, to the extent that they are investing abroad, they are not going to be exporting their people, they’re not like some of the other big, populous countries of Asia.
“So, clearly, where they invest, that is jobs for Nigerians. That’s the simplest way I would put it.
“The Olam transaction was a long time in the works; it was first discussed at the first Business Council Meeting held last year in Saudi Arabia, and it materialised this year,” said Edun.
Also speaking with State House correspondents, Bagudu said the Saudis saw in Tinubu somebody who was changing his country, just like they had transformed their own country.
He said Salman, the Crown Prince of Saudi Arabia, was faced with a people who believed they were wealthy, and felt entitled.
“He came as a leader and he said, well, you might be rich, you might be entitled, but our economy is not passing the right direction.
“So, he introduced reform measures, which were unusual then in Saudi Arabia; removal of oil subsidies, introduction of VAT legislation, among others.
“I have a receipt here, when I ate food, I noticed that the VAT was 15 per cent. But today, Saudi Arabia is turning into a wonderland, an amazement in investment; money is flowing,” said Bagudu.
According to him, the Saudis appreciate Tinubu, who is facing a greater challenge, but yet took on those reforms.
“You can see clear confirmation that they want to stand by this leader, because he has taken risks that are unusual and they celebrate his courage and capacity.
“For me, that is the number one achievement for our country. The relationship will blossom such that our reserves and our economic ties will improve with the kingdom,” he said.
Bagudu said he was confident that more investments would follow the engagements of the Nigerian delegation to Saudi Arabia.
On the prospects of the economy in 2025, he said the economy had turned the corner.
“I think we have made the tough choices, we have seen the worst we could see and is not unexpected.
“So, what we expect to see in 2025 is a better economy, lower inflation, more employment opportunities, more support for businesses, more infrastructure development.
“We also expect more funding of security and better security, and all those priority areas; human capital development, education, health.
“We’re sure to see more in that direction, and the quality of life will get better,” Bagudu said. (NAN)
News
Scores of terrorists neutralised after Major attacks on military base
Scores of terrorists neutralised after Major attacks on military base
Nigerian troops have successfully neutralised several terrorists and thwarted coordinated attacks in Adamawa and Borno States.
The Joint Task Force, Operation Hadin Kai, announced that the successes followed swift and decisive responses by soldiers to attempts by insurgents to overrun military formations in the North-East.
In a statement issued on Friday, Acting Media Information Officer of the Task Force, Lieutenant Solomon Atokolo, confirmed that the operations resulted in heavy casualties for the terrorists.
He explained that the first attack took place in the early hours of January 16, 2026, when insurgents targeted a patrol base at Sabon Gari in Madagali Local Government Area of Adamawa State.
Atokolo stated that troops under Sector 4 of Operation Hadin Kai quickly engaged the attackers and successfully repelled them. He added that reinforcements from Gulak and the Battalion Quick Reaction Force were promptly mobilised to support the operation, ensuring that the assault was decisively crushed.
“The terrorists were successfully repelled without any casualty to our troops or damage to equipment, forcing them to abandon the attack,” the statement said.
He added that security forces later carried out clearance operations in the surrounding area, scanning for improvised explosive devices and booby traps to guarantee the safety of both civilians and personnel.
In a separate incident on the same day, terrorists staged a large-scale, multi-directional attack on Forward Operating Base (FOB) Azir in Borno State.
The attackers attempted to breach the base’s defensive perimeter but were met with fierce resistance from troops. With support from the Air Component and other Nigerian Army aerial platforms, the soldiers unleashed sustained firepower that compelled the insurgents to retreat.
Although rocket-propelled grenade fire from the terrorists damaged some troop-carrying vehicles and partially affected the base’s CCTV control room, Atokolo said troops maintained full control of the situation and prevented any further breach.
The military spokesperson disclosed that several weapons and ammunition were recovered from the fleeing terrorists.
Items seized included a 60mm mortar tube, mortar bombs, locally fabricated explosives, heavy machine gun rounds, and hundreds of rounds of 7.62mm NATO ammunition.
The Joint Task Force commended the professionalism and resilience of the troops, reaffirming its commitment to sustaining operations aimed at restoring lasting peace and security to the North-East region.
Scores of terrorists neutralised after Major attacks on military base
Nigerian troops have successfully neutralised several terrorists and thwarted coordinated attacks in Adamawa and Borno States.
The Joint Task Force, Operation Hadin Kai, announced that the successes followed swift and decisive responses by soldiers to attempts by insurgents to overrun military formations in the North-East.
In a statement issued on Friday, Acting Media Information Officer of the Task Force, Lieutenant Solomon Atokolo, confirmed that the operations resulted in heavy casualties for the terrorists.
He explained that the first attack took place in the early hours of January 16, 2026, when insurgents targeted a patrol base at Sabon Gari in Madagali Local Government Area of Adamawa State.
Atokolo stated that troops under Sector 4 of Operation Hadin Kai quickly engaged the attackers and successfully repelled them. He added that reinforcements from Gulak and the Battalion Quick Reaction Force were promptly mobilised to support the operation, ensuring that the assault was decisively crushed.
“The terrorists were successfully repelled without any casualty to our troops or damage to equipment, forcing them to abandon the attack,” the statement said.
He added that security forces later carried out clearance operations in the surrounding area, scanning for improvised explosive devices and booby traps to guarantee the safety of both civilians and personnel.
In a separate incident on the same day, terrorists staged a large-scale, multi-directional attack on Forward Operating Base (FOB) Azir in Borno State.
The attackers attempted to breach the base’s defensive perimeter but were met with fierce resistance from troops. With support from the Air Component and other Nigerian Army aerial platforms, the soldiers unleashed sustained firepower that compelled the insurgents to retreat.
Although rocket-propelled grenade fire from the terrorists damaged some troop-carrying vehicles and partially affected the base’s CCTV control room, Atokolo said troops maintained full control of the situation and prevented any further breach.
The military spokesperson disclosed that several weapons and ammunition were recovered from the fleeing terrorists.
Items seized included a 60mm mortar tube, mortar bombs, locally fabricated explosives, heavy machine gun rounds, and hundreds of rounds of 7.62mm NATO ammunition.
The Joint Task Force commended the professionalism and resilience of the troops, reaffirming its commitment to sustaining operations aimed at restoring lasting peace and security to the North-East region.
News
Federal Govt warns States against negotiating with Bandits
Federal Govt warns States against negotiating with Bandits
The Minister of Defence, Christopher Musa, has urged state governments across the country to stop engaging in negotiations with bandits, warning that such actions undermine national security efforts.
Musa made the call during an interview with BBC Hausa, where he expressed concern that dialogue with criminal groups weakens ongoing military operations.
According to him, reaching agreements with bandits often proves futile, as they cannot be trusted to honour their commitments.
He argued that many of the criminals lack genuine remorse and are likely to renege on any deals struck with them.
The minister disclosed that the Katsina State Government was cautioned over its recent decision to facilitate the release of 70 suspected bandits from custody.
However, the Katsina government had defended the action, describing the move as essential to consolidating community-driven peace agreements with “repentant bandits” in several local government areas.
“Negotiation with bandits is not a way out, those people are not real, whenever they come for reconciliation, they need something,” Musa spoke in Hausa language.
“What’s happening in Katsina we told them, don’t ever make the mistake of reconciling with those people, they are liars.
“We begged people to stop negotiating with them and the government should stop. It’s not right and they will surely come back again. They don’t fear God.
“We already informed them it damages our work, we asked them to stop, you know it’s democracy now not military rule. But we are in talk with them.”
The defence minister refuted claim that the federal government pays ransom to kidnappers.
“Paying ransom is not good. People should stop paying ransom when they kidnap people. Report should be made and actions will be taken.”
“Federal government doesn’t pay for ransom. It might be other people and they are doing that on their own.”
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