Latest news with #Tinubu
DW
10 hours ago
- Climate
- DW
Nigeria: Death toll from major floods passes 150 – DW – 05/31/2025
Torrential rains in central Nigeria on Wednesday triggered flooding and widespread damage. Rescuers say the death toll has surpassed 150 people. The death toll from widespread floods in central Nigeria rose to more than 150 people on Saturday, local emergency services reported. After torrential rains earlier in the week, flood waters have swept away more than 50 homes in the market town of Mokwa in the central Niger state. More than 3,000 people have been displaced. Torrential rain submerges Nigerian market town To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video How did President Tinubu respond to the flooding? "I extend my heartfelt condolences to the affected families and the good people of Niger State at this difficult time," Nigerian President Bola Tinubu said in a statement on X. "Search-and-rescue operations are ongoing, and all relevant federal agencies have been mobilised to support the state government's efforts," he added. "Relief materials and temporary shelter assistance are being deployed without delay." Ibrahim Audu Husseini, spokesperson for the Niger State emergency agency told AFP on Friday that he "expected the toll to rise considerably because there are different rescuers at different locations." Why is flooding so dangerous in Nigeria? Mokwa is a key local hub for traders from the south of the country and farmers from the north. It is located around 220 kilometers (140 miles) west of the capital Abuja. The flooding was triggered by several hours of heavy rain, with the collapse of a nearby damn exacerbating the situation. Nigeria's Meteorological Agency warned of possible flash floods in 15 of Nigeria's 36 states, including Niger State, between Wednesday and Friday. Nigeria's rainy season has only just started and normally lasts around six months. The annual occurrence regularly kills hundreds of people. A lack of drainage, the construction of homes on waterways and the dumping of waste in drains and water channels all make the flooding worse. Flood awareness and alleviation in Nigeria To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Nigeria suffered one of its worst disasters in decades in 2024, with flooding killing more than 1,200 people and displacing another 1.2 million. The flooding, which impacted 31 of the country's 36 states, also destroyed more than 1.4 million hectares (3.5 million acres) of farmland. Edited by: Wesley Dockery, Zac Crellin
TimesLIVE
a day ago
- Business
- TimesLIVE
Nigeria offers oil tax relief for cost-cutting measures
Nigerian President Bola Tinubu has signed an executive order introducing a performance-driven framework for oil sector operators, designed to link tax incentives directly to verifiable cost savings. Under the new Upstream Petroleum Operations Cost Efficiency Incentives Order 2025, operators who successfully implement industry-standard cost reductions in onshore, shallow-water and deep offshore fields will qualify for defined tax relief. These tax credits will be capped at 20% of an operator's annual tax liability. "This order is a signal to the world: we are building an oil and gas sector that is efficient, competitive, and works for all Nigerians," Tinubu said in a statement. "It is about securing our future, creating jobs, and making every barrel count."
TimesLIVE
a day ago
- Business
- TimesLIVE
Nigeria's Tinubu touts economic gains at mid-term but inflation, insecurity persist
Nigerian President Bola Tinubu on Wednesday marked his second anniversary in office by declaring that his economic reforms were working, but international bodies have warned of persistent economic and security problems. Since 2023, Tinubu's policies — the removal of a costly petrol price subsidy, cuts to electricity price subsidies, and two currency devaluations — have triggered the worst cost-of-living crisis in a generation, fuelled by inflation rates of more than 23%. "Our economic reforms are working. We are on course to building a greater, more economically stable nation," Tinubu said in an anniversary statement. He said the measures were needed to avert a severe fiscal crisis that would have led to "runaway inflation, external debt default, and a plunging Naira and an economy in a free-fall". Tinubu said the fiscal deficit has narrowed sharply to 3.0% of GDP in 2024 from 5.4% in 2023, supported by improved government revenue generation. He claimed inflation had begun to ease, but this is largely because the index was rebased for the first time in more than a decade.
Time of India
a day ago
- Business
- Time of India
Nigeria's Tinubu touts economy amid cost-of-living anger
Nigerian President Bola Tinubu defended a series of economic reforms enacted by his government in an address on Thursday. "Our economic reforms are working. We are on course to building a greater, more economically stable nation," Tinubu said in the remarks marking his second anniversary in office. Tired of too many ads? go ad free now After coming into power, Tinubu's administration has twice devalued the country currency, the naira, and slashed electricity and petrol price subsidies. Nigeria is Africa's largest crude oil producer. 'We have made undeniable progress' "Despite the bump in the cost of living, we have made undeniable progress," Tinubu said. "We have stabilized our economy and are now better positioned for growth and prepared to withstand global shocks." Although the World Bank has warned that Nigeria continues to face high inflation, the Washington-based financial institution recently said Nigeria witnessed its highest economic growth in 10 years amid Tinubu's reforms. Since Tinubu introduced the economic reforms, inflation in Nigeria has soared to rates of over 23%. High fuel prices, food inflation and rising electricity costs have frustrated working Nigerians and sparked a cost-of-living crisis. The fury over high consumer prices has led Nigerians to take to the streets across the country this and last year. Some protests have even turned violent as demonstrators clash with security forces, leaving people dead. The Nigerian government has arrested protesters and charged some of them with treason, a crime that can come with the death penalty. In his second anniversary address, Tinubu also claimed that security has improved in Nigeria, saying military forces are deterring threats from armed groups. Tired of too many ads? go ad free now Nigeria has witnessed attacks and kidnappings not only from jihadi groups such as Boko Haram but also bandits who sack villages. Tinubu's statement comes after human rights watchdog Amnesty International said at least 10,217 people have been killed in Nigeria by jihadis and armed groups in the two years since he has taken office. Tinubu critics denounce government 'failure' Nigerian politician and journalist Omoyele Sowore criticized Tinubu's second anniversary address, accusing Tinubu on X of ending the "petrol subsidy for people with low incomes" while subsidizing "corrupt government officials and lawmakers." Sowore also said Tinubu's government let the Boko Haram jihadi group move from Nigeria's northeastern states of Borno and Yobe down south into the north-central state of Kogi. "A man who met Boko Haram in Borno and Yobe but let them move down south to Kogi is a failure," Sowore, who ran as a presidential candidate in the 2023 Nigerian election, said.
Yahoo
2 days ago
- Business
- Yahoo
Life is improving in Nigeria, Tinubu says
President Bola Tinubu has told Nigerians that the worst is behind them and that the country is getting better, in a speech to mark the end of his second year in office. Halfway through his term, Tinubu acknowledged the pain his reforms had unleashed, adding that he did not take the patience of Nigerians for granted. "Today, I proudly affirm that our economic reforms are working. We are on course to building a greater, more economically stable nation," he said. On the day he took office in May 2023, he announced the end of a long-standing fuel subsidy - a move that caused a huge surge in prices, leaving many Nigerians unable to buy enough food to eat. Tinubu said: 'Despite the bump in the cost of living, we have made undeniable progress. Inflation has begun to ease, with rice prices and other staples declining." Inflation was 24% last month, according to the official figures, compared to 22% when he took over. This is an improvement from this time last year when it stood at 34%. Weeks later Nigerians took to the streets in a nationwide protest that left several people dead. A fall in the rate of inflation does not mean that prices are falling - just that they are rising at a slower rate than before. Could Nigeria's careful ethnic balancing act be under threat? The World Bank predicts that Nigeria's total output, or GDP, will grow by 4% this year - a faster rate than the 3% when Tinubu took over. However, unemployment remains a major concern, with many graduates still complaining about not being able to find jobs. The president said he had little choice about removing the subsidy, saying the huge cost was a "chokehold on our nation's neck, strangling our nation's future", while allowing corruption to thrive. After his inauguration and under what he called a "Renewed Hope Agenda", Tinubu pledged to tackle economic instability, improve security nationwide, reduce corruption, reform governance, and lift Nigerians out of poverty. Public affairs analyst professor Adeosun Olufemi told the BBC he feels the president has made positive gains in some areas, adding that the governors of Nigeria's 36 states should take the blame for some of the problems over the past two years. "After the president announced fuel subsidy removal, money allocated to state governors increased heavily but what have they done with it?" he asked. The president, 73, won the bruising 2023 election with 37% of the vote – defeating former Vice-President Atiku Abubakar and former governor Peter Obi in a three-way race. There is massive speculation that some of the major political parties could form a coalition ahead of the next election in 2027 to challenge Tinubu, who is expected to seek a second term. Nigeria's fierce political rivals share joke at pope's inaugural mass 'I scarred my six children by using skin-lightening creams' Blank questions, power cuts and a suicide: Nigeria's exams fiasco Go to for more news from the African continent. Follow us on Twitter @BBCAfrica, on Facebook at BBC Africa or on Instagram at bbcafrica Focus on Africa This Is Africa
