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Let the Naira Speak: Tinubu’s Economic Doctrine and the End of Nigeria’s Fiscal Illusion

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Let the Naira Speak: Tinubu’s Economic Doctrine and the End of Nigeria’s Fiscal Illusion

By Dr. Bunmi Awoyemi

There are moments in the life of a nation when truth roars louder than propaganda, when facts silence hysteria, and when reality — quiet, undeniable, unyielding — outshines even the brightest fiction of the cynical mind.

Such is the moment Nigeria now inhabits.

In a stunning affirmation of fiscal direction and monetary realignment, Bloomberg, one of the most revered bastions of global economic analysis, has declared that the Nigerian Naira has decoupled from oil market volatility. Yes — the very currency once held hostage by the price of Brent crude, now shows signs of autonomy, of stability, of resilience.

But what did some Nigerians do with this triumph?

They reached not for applause, not for understanding, not even for cautious optimism — they reached, instead, for conspiracy. They alleged that Bloomberg had been “bought” by the Tinubu administration. Bloomberg — the financial lighthouse for the world’s biggest investors, with over 2,700 journalists in 120 countries — was suddenly accused of succumbing to naira-for-news transactions.

To the incurable pessimists, I say this: Truth is not for sale, and your cynicism is not scholarship.

The Resurrection of a Failing Giant
Let us remember what Nigeria looked like in May 2023. The country stood on the edge of fiscal oblivion. Foreign reserves had shriveled to a meager $3.9 billion in usable capital, barely enough to cover a few months of import obligations. External creditors were circling, and default was a whisper away. We owed the IMF $3.4 billion in pandemic support loans. We owed commercial creditors in Europe, China, and the Gulf. We owed international airlines their trapped funds. We owed forward contract obligations on oil that left our own refineries starved. Nigeria owed the CBN ways and means of N22 trillion which Godwin Emefiele the immediate past CBN Governor foisted on Nigeria by recklessly and unlawfully printing naira, which contributed to inflation in Nigeria.

Even worse, 31 out of 36 states were in a state of economic paralysis. They owed salaries. They owed pensioners. They owed contractors. They owed dignity.

The Naira was being artificially pegged, distorted by a central bank that had become a political tool rather than a monetary authority. Oil subsidies were guzzling over ₦500 billion to ₦600 billion per month, while education, health, and infrastructure groaned under neglect. Nigeria was a grand mansion with a leaking roof, termites in the foundation, and bandits in the living room.

Enter President Bola Ahmed Tinubu.

A Shock Doctrine, A Necessary Jolt
From his first days in office, Tinubu made it clear: there would be no more deception, no more sugar-coating, and no more financial narcotics. He removed the fuel subsidy — an unholy altar of corruption worshipped for decades. He unified the exchange rate, liberating the naira from the claws of manipulation. He began repaying outstanding debts — foreign, domestic, and diplomatic — to restore Nigeria’s standing in the global financial order.

He paid off the IMF’s $3.4 billion, reducing our exposure to zero. He cleared over $800 million in forward contract obligations, freeing up Nigerian crude for domestic processing. He settled all outstanding payments to international airlines, averting an exodus that would have crippled global connectivity.

The reward?

Our foreign net reserves surged to $23 billion.
Inflows returned.
Investors re-engaged.
The Naira found stability — without being subjected to the volatility in oil and gas prices.

Bloomberg Did Not Lie — The Market Has Spoken
The report from Bloomberg on July 8, 2025, stated clearly: “The Nigerian naira has shown unprecedented stability, holding firm against the dollar despite weakening oil prices, a feat not seen in decades.” This was not a puff piece. It was a verdict of the marketplace.

Analysts at Deutsche Bank and CardinalStone confirmed it. FX inflows had grown. Market confidence had improved. The CBN’s policy tightening was working. The reform momentum was real — and noticed.

And yet, from some quarters of Nigeria’s intelligentsia came howls of indignation. “They must have been paid,” they said, as if progress was treason.

To those voices, I say: No one is buying Bloomberg. What’s been bought — and bought dearly — is Nigeria’s chance at survival. Paid for not in cash, but in courage.

From Collapse to Competence: States, LGs, and the New Nigeria
With the subsidy gone, the Federal Allocation (FAAC) nearly doubled in dollar terms. What happened next was nothing short of a fiscal resurrection.

Over 70% of states cleared half of their debts.

States that could not pay ₦30,000 minimum wage began paying ₦70,000.

Pensions were cleared.

Contractors returned to sites.

LGs, for the first time, received direct allocations from the Federation Account — a constitutional amendment signed into law by Tinubu finally gave them autonomy.

Development has become decentralized and democratized. With six new zonal development commissions, each funded with ₦200 billion, Nigeria now has regional engines of growth. This is not token reform. This is structural devolution — restructuring without the noise.

Patience is a Principle of Reform
It is true: the common man still feels the pinch. Inflation bites. Transport is expensive. Food costs are high. But reforms are not microwave miracles — they are slow-boiling revolutions. The roots go down before the fruit comes up.

We must understand this: macro-stability is the womb of micro-prosperity. You do not build homes on earthquakes. You stabilize the ground first. That is what is happening now.

The previous path would have led to collapse — an Argentina, Greece, Cyprus-style default, a Zimbabwean and Venezuelan currency spiral. Tinubu’s path, though painful, has created the platform for revival.

We are not yet there. But we are no longer where we were.

Hold the Line — And Hold the Right People Accountable
As the Naira stabilizes, FAAC allocations have grown — with 47% going to States and LGs. Now, the spotlight must shift. The Federal Government has laid the foundation. The time has come to hold subnational governments accountable.

Ask your governor: Where is the money? Where are the schools, hospitals, and roads? Ask your LGA chairman: Where are the water projects, drainage, and rural electrification?

The center has opened the tap. Let the localities drink responsibly.

Final Word: The Naira Has Turned a Corner — Let’s Not Turn Back
In a world of doubt, the Naira has begun to stand. In an economy once tethered to the whims of oil, we now see signs of independence. In a nation once defined by policy cowardice, we now see the fruits of hard choices.

Bloomberg did not write fiction. It wrote what the world sees. It wrote what we, too often, refuse to admit: Nigeria is healing.

Let us not let bitterness blind us. Let us not let old wounds become new excuses. Let us embrace the discomfort of transformation — because on the other side lies dignity, stability, and the kind of nation we’ve only dreamed of.

The Naira is speaking.
Let the cynics be silent.

Dr. Bunmi Awoyemi is a Real Estate Developer and Builder.

Let the Naira Speak: Tinubu’s Economic Doctrine and the End of Nigeria’s Fiscal Illusion

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How DSS, ONSA, Army rescue remaining Kurmin Wali abducted worshippers in Kaduna

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How DSS, ONSA, Army rescue remaining Kurmin Wali abducted worshippers in Kaduna

By: Zagazola Makama

In the early hours of Thursday, operatives of the Department of State Services (DSS), working closely with the Office of the National Security Adviser (ONSA) and backed by the Nigerian Army, recovered 88 captives from bandits’ hideouts in the Kajuru–Kachia axis. The victims included men, women and two toddlers.

It would be recalled that gunmen attacked three churches in Kurmin Wali on Jan. 18 and abducted about 167 worshippers. While 80 were released on Feb. 1, others remained in captivity until the latest rescue.

One member of the rescue team, who spoke with security analyst Zagazola after the mission, described the operation as “purely intelligence-led.

“There was no shooting, no drama. Everything depended on timing, trust, and pressure. We had to move quietly through insecure villages, meet the handlers, and wait in the bush until they produced the victims,” the operative said.

According to him, the convoy left Kaduna city at about 8 p.m. on Wednesday under DSS escort and proceeded through Kachia to Kajuru LGA, navigating narrow and insecure routes to reach Maro and Cibiya villages.

At 11:00 p.m., the team made contact with local intermediaries the kachallas men who sit between communities and criminal groups. Thirty minutes later, they were led to Cibiya village. There was no time for pleasantries. We told them straight: we are here for the victims,” the operative said. “Nothing else.” he said.

For reasons known only to the abductors, the captives were not brought to the meeting point. Instead, the rescue team was asked to wait. In the bush. For an hour and a half.

“Those 90 minutes felt like a lifetime,” the operative recalled. “You are in hostile terrain, with no guarantee of what comes next.”he said.

“At exactly 12:45 a.m., in a dark thicket outside Cibiya village, the waiting ended. From different corners of the bush, shadows began to move first a woman clutching a child, then a man limping, then another, and another. In silence, 88 kidnapped worshippers emerged from captivity. There were no sirens. No gunfire. No cheering. Just relief.

He added that one of the vehicles developed a flat tyre at Maro village, but the passengers were quickly redistributed among other vehicles, allowing the convoy to continue to Kaduna.

“We arrived safely and handed over the 88 rescued persons to the DSS headquarters at about 3:30 a.m. for documentation and profiling,” he said.

The source commended the support of the Army and Navy personnel from the Nigerian Army School of Artillery (NASA), Kachia, as well as the Garrison Commander, for providing escort and coordination during the operation.

Zagazola report that the Kajuru LGA has, for years, been a pressure point in Kaduna’s security map. Its forested terrain, poor road access and proximity to Kachia and parts of Niger State make it ideal for bandit transit and hostage warehousing.

The rescue marks more than just the end of a traumatic episode for dozens of families. It also offers a revealing window into Nigeria’s evolving counter-kidnapping architecture one increasingly driven by quiet inter-agency coordination rather than loud battlefield theatrics.

What stands out in the Kurmin Wali rescue is not just the outcome, but the method. Rather than a large-scale military assault, the operation relied on fusion intelligence, the blending of DSS human intelligence, ONSA strategic coordination, and Army/Navy tactical support from the Nigerian Army School of Artillery (NASA), Kachia.

This reflects a broader shift in Nigeria’s internal security playbook:DSS handles negotiations, penetration and tracking, ONSA provides strategic oversight and deconfliction, the military ensures area dominance and safe corridors.

Such layered coordination reduces the risk of civilian casualties and prevents kidnappers from scattering hostages during raids, a recurring problem in previous operations.

The initial police denial of the incident also exposed a familiar gap: the lag between ground reality and official acknowledgment, which often complicates response time and public trust.

The Kaduna State Government is yet to issue an official statement on the operation.

How DSS, ONSA, Army rescue remaining Kurmin Wali abducted worshippers in Kaduna

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Marwa Charges Nigerian Youths on Skills Acquisition, Warns Against Drug Abuse

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Marwa Charges Nigerian Youths on Skills Acquisition, Warns Against Drug Abuse

By: Michael Mike

The Chairman and Chief Executive Officer of the National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Buba Marwa (retd) has urged Nigerian youths to prioritise skills acquisition and empowerment opportunities as a strategic defence against drug abuse, unemployment and other social vices threatening national stability.

Marwa gave the charge in Abuja on Thursday while speaking as Special Guest of Honour at the launch of a youth empowerment and skills acquisition programme organised by Grassroots Bridge Builders, a non-governmental organisation.

He described the initiative as a critical intervention that supports the Federal Government’s Renewed Hope Agenda, particularly its focus on youth empowerment, job creation, social inclusion and crime prevention. According to him, equipping young Nigerians with practical and employable skills is a sustainable approach to addressing poverty, drug dependency and insecurity.

The NDLEA boss commended Grassroots Bridge Builders for its plan to train and empower 10,000 youths, noting that such efforts go beyond charity to serve as long-term investments in national development. He stressed that empowering young people strengthens their resilience, builds character and reduces their vulnerability to drug abuse and criminal activities.

Marwa emphasised that the fight against drug abuse cannot be left to government alone, calling for stronger collaboration among non-governmental organisations, civil society groups, faith-based institutions, community leaders and the private sector. He encouraged stakeholders to partner with the NDLEA in developing community-driven programmes that provide young people with skills, dignity and a sense of purpose.

Addressing the beneficiaries, Marwa described Nigerian youths as a vital asset to the country’s future rather than a burden to be managed. He urged them to take advantage of empowerment initiatives, reject drug use and invest in their talents to contribute meaningfully to national growth.

He reaffirmed NDLEA’s commitment to supporting credible, non-partisan initiatives that promote youth development, skills acquisition and drug-free communities, describing youth empowerment as the most sustainable pathway to securing Nigeria’s future.

Marwa Charges Nigerian Youths on Skills Acquisition, Warns Against Drug Abuse

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NSCDC Boss Charges Personnel on Professionalism, Integrityin VIP Protection

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NSCDC Boss Charges Personnel on Professionalism, Integrityin VIP Protection

By: Michael Mike

​The Commandant General (CG) of the Nigeria Security and Civil Defence Corps (NSCDC), Prof. Ahmed Audi has issued a stern mandate to officers to uphold the highest standards of professionalism, integrity, and commitment in the protection of Very Important Persons (VIPs).

The CG gave this charge during his keynote address at a three-day VIP leadership and management workshop held at the NSCDC National Headquarters in Abuja on Wednesday.

The intensive training brought together state commandants, VIP commanders, and armorers from across the country.

​Audi emphasized that the mandate for VIP protection as conferred by President Bola Tinubu is a sacred trust that must not be compromised. He warned that his administration maintains a zero tolerance policy for any form of misconduct.

He said: “This administration will sanction any personnel found sabotaging the Corps’ efforts in implementing the VIP mandate,” adding that: “This responsibility must be carried out to the admiration of the government and Nigerians to justify the confidence reposed in us.”

The workshop, organized under the Directorate of Training and Manpower Development, serves as a strategic intervention to sharpen the tactical and administrative skills of the Corps’ leadership.

Acting Deputy Commandant General Muktar Lawal, explained that the curriculum focuses on: strengthening leadership capacity and management skills.

Improving interdepartmental coordination.

Reinforcing professionalism in armory management and decision-making.

​The CG underscored the importance of excellence by commending the VIP National Commander, Deputy Commandant of Corps Anyor Donald, for his professionalism and loyalty, urging others to embrace similar qualities.

​The event featured goodwill messages from the Corps’ top brass, including Deputy Commandants General Zakari Ibrahim Ningi, fdc; Nnamdi Nwinyi; Pedro Awili Ideba; and Professor Tyoor Frederick Terhemba, all echoing the need for heightened accountability in the field.

NSCDC Boss Charges Personnel on Professionalism, Integrityin VIP Protection

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