STATE HOUSE PRESS RELEASE
President Bola Tinubu says the future of the Nigerian child is going to be brighter as the path to take them out of poverty has been cleared with his signing into law of the Student Loans Re-enactment Bill.
The President spoke on Wednesday night when he hosted members of the APC Presidential Campaign Council and the Independent Campaign Council to Iftar at the State House in Abuja.
“The only thing that can fight poverty is education. Today, I signed the bill for the Student Loan Scheme. Imagine the children of the poor; what about people going through the mud, fishing in the ponds? How do you tell their children that their future will be brighter? It is only through education that we can fight poverty. A promising future awaits our children,” the President affirmed.
The President also used the occasion to reassure Nigerians that the economy is being steered onto the path of sustainable growth and broad-based prosperity for Nigerian families in all parts of the country.
“The economy is looking much better. Yes, we have challenges of inflation, but we will bring it down. When the exchange rate was going haywire, it looked like we were asleep, but we worked on it diligently, and it is going down; it is getting better. Borrowing was higher a year ago, but today, we are reengineering the financial landscape, and our revenue is expanding. And we are taking up our sovereignty and earning our respect back in the comity of nations,” President Tinubu said.
Acknowledging members of the PCC and ICC for their rigorous efforts toward his election, the President said: “It is your footwork and footprints that made me the President. I campaigned on hope, and you promised Nigerians hope and a good result when campaigning for me. There are a lot of expectations. I, therefore, have to work hard for it. There is a windy road we are traveling on. We have to navigate carefully. Otherwise, one ends up in the bush, and that is all I have been focused on.
“It is your effort, resourcefulness, and dedication that has brought us here. The results will not come suddenly, you have endured the campaign, you must endure more, and I assure you that a very bright light beckons for you and your children. Nigeria will prosper, and we will all reap the benefits. We will work with determination and persistence.”
While urging citizens to continue to have faith in Nigeria by supporting his administration to succeed for the benefit of all, President Tinubu noted that “Europe and America did not get to where they are today in one day, but through persistence and hard work, which takes time and consistent focus.”
“Pray for Nigeria, think Nigeria. This is not play time. Let us believe in ourselves. We must ask questions. What is happening to our solid minerals? No rival wants you to be bigger than them. We must be dogged. We have to sort out our problem ourselves,” the President said.
Vice-President Kashim Shettima, Senate President Godswill Akpabio, Director-General of the defunct PCC, Senator Simon Lalong, and the Director-General of the defunct ICC, in their various remarks, thanked the supporters for their perseverance, assuring them that the President had not forgotten all their efforts and would not disappoint them.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
April 4, 2024
STATE HOUSE PRESS RELEASE
IN DETAIL: THE STUDENT LOANS (ACCESS TO HIGHER EDUCATION) ACT, 2024
President Bola Tinubu, on Wednesday, April 3, 2024, signed into law the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Bill, 2024. The Act is of historic proportions as it seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
WHY THE PREVIOUS ACT WAS AMENDED
The repealed Student Loan Act, 2023, had some challenges bordering on governance and management, purpose of the loans, eligibility criteria for applicants, method of application, repayment provisions, and recovery of the loans.
THE AMENDMENTS UNDER THE NEW ACT
Student Loans (Access to Higher Education) (Repeal and Re-enactment) Act, 2024 sufficiently resolved the challenges highlighted above and includes the following amendments:
(a) Establishes the Nigeria Education Loan Fund (NELFUND) as a body corporate that can sue and be sued in its name and has the power to acquire, hold, and dispose of movable and immovable property for the purpose of its functions.
– This ensures that the Fund can legally enter contracts, including loan agreements, and may also initiate action to ensure repayment by beneficiaries.
(b) Empowers the Fund to provide loans to qualified Nigerians for tuition, fees, charges, and upkeep during their studies in approved tertiary academic institutions and vocational and skills acquisition institutions in Nigeria.
– Build, operate, and maintain a diversified pool of funds to provide loans to qualified applicants and ensure access to higher education, vocational training, and skills acquisition.
– These amendments ensure that students can apply for and receive loans to cover tuition, institutional charges, and some upkeep.
(c) Separates the governance functions from the management operations of NELFUND by establishing a board of directors with a chairman and a secretary.
– The board’s members are drawn from relevant ministries, regulatory bodies, and participating agencies, including the Federal Ministries of Finance and Education, the FIRS, NIMC, NUC, NBTE, and NCCE, as well as representatives of universities, polytechnics, colleges of education, students of tertiary institutions, and the organized private sector.
– Establishes a management team led by a managing director, including executive directors responsible for the day-to-day management and operations of the Fund.
– The President of the Federal Republic of Nigeria appoints the Board and Management.
(d) Properly defines the resource structure of the Fund by, among other things, establishing the General Reserve Fund into which shall be paid 1 percent of all taxes, levies, and duties collected by the Federal Inland Revenue Service and accruing to the benefit of the Federal Government, and
– From which the Fund shall pay amounts payable as loans to qualified applicants for tuition, fees, charges, and upkeep, as well as the Fund’s operational expenses and such expenditures necessary to attaining the Fund’s objectives and functions.
(e) Changes to eligibility criteria for applicants
– Removes the family income threshold so Nigerian students can apply for these loans and accept responsibility for repayment according to the Fund’s guidelines.
– Removes the guarantor requirement so that students can apply for and receive loans subject to application and identity verification guidelines as provided by the Fund.
– Student applicants can no longer be disqualified based on their parent’s loan history.
(f) Establishes a justice and fairness provision mandating the Board to ensure a minimum national spread of loans approved and disbursed in each financial year.
(g) Applicants to the Fund may apply for loans to cover tuition and other fees payable to the school and maintenance allowance payable to the student.
(h) Repayment of loans by beneficiaries
– The Fund shall not initiate loan recovery efforts until two years after the completion of the National Youth Service Programme.
– A beneficiary may request an extension of enforcement action by the Fund by providing a sworn affidavit indicating that he/she is not employed in any capacity and is not receiving any income.
– Only a person who provides a false statement to the Fund under this section is guilty of a felony and is liable to imprisonment for three years.
– Makes provision for loan forgiveness in the event of death or acts of God causing inability to repay.
The Act effectively removes the previous encumbrances found in the first iteration of the Act, and paves the path for the protection of Nigeria’s future by ensuring that citizens have the means to fund their education, acquire critical skills, and become productive contributors to national development.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
April 4, 2024
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU HAILS SENATOR ADAMS OSHIOMHOLE ON BIRTHDAY
President Bola Tinubu heartily congratulates Senator Adams Oshiomhole on the occasion of his birthday, today, April 4, 2024.
Senator Oshiomhole was President of the Nigeria Labour Congress (NLC) from 1999 to 2007; Governor of Edo State from 2008 to 2016, and National Chairman of the All Progressives Congress (APC) from 2018 to 2020.
The President joins the family and friends of the Distinguished Senator in celebrating his close ally and a man for all seasons.
“Comrade Adams Oshiomhole is of strong character. He is ever so committed to his principles, unbending and fearless in the pursuit of a just cause. He is a man you can take to battle and be sure of victory. He is fiercely loyal and stands firmly by what he believes in,” the President said.
President Tinubu thanks Senator Oshiomhole for his fervent support while asking God Almighty to grant him many more years in good health.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
April 4, 2024
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU AT ECOWAS PARLIAMENT: STRONG AND DIRECT REPRESENTATION UNITES WEST AFRICA AMIDST FORCES OF DIVISION
President Bola Tinubu has called on ECOWAS member states to come together, strengthen ties, and reject forces bent on causing division within the community.
Speaking at the inauguration of the Sixth Legislature of the ECOWAS Parliament, on Thursday in Abuja, President Tinubu, who is the Chairman of ECOWAS Authority of Heads of State and Government, said regional solidarity is imperative to strengthen the bloc’s resilience and effectiveness at this critical juncture.
He emphasized that member states can not afford to remain passive spectators while the community faces the threat of disintegration.
“We stand united against such forces and are committed to ensuring that our unity remains unshaken. We must ensure that cooperation amongst us is strengthened, with a view to building a sense of common destiny and purpose. No one can do this for us. We must come together.
“To this extent, reinforcing the legitimacy of the decisions taken by the Authority of Heads of State is key in sending a message that ECOWAS is one indivisible body. It is also very important that the executives, on the other hand, show similar confidence in the Parliament, which would indeed deepen democracy in our region. Meanwhile, in the midst of ongoing challenges, our partnership can be a driving force for stability, growth, and prosperity in our region,” the President said.
The President reaffirmed Nigeria’s unwavering commitment to the aspirations of the community and, by extension, the fundamental objectives upon which the ECOWAS Parliament was established.
Affirming the important role of the ECOWAS Parliament in the bloc’s journey towards a future of peace and prosperity for all, President Tinubu said success cannot be achieved without the loyal contribution and hard work of the community’s legislative agency.
“Furthermore, to realize the ECOWAS ‘Vision 2050’, we require greater involvement of the people in the decision-making processes of the community. That can only be achieved through their duly-elected representatives who, being members of their national parliaments, are seconded to the community parliament. We are here, collectively, to serve all the good and great people of West Africa.
“I am aware that the ECOWAS Parliament is seeking enhanced powers, primarily through the election of its members by direct universal suffrage. This will increase the role parliamentarians must play and the responsibilities that they will assume in advancing our regional development objectives, particularly in harmonizing laws and regulations across the member states.
“Indeed, the practice of directly electing public officials aligns with the democratic principles that Nigeria upholds, as it enhances the legitimacy of our democratic institutions. This principle is also in line with the spirit of the ECOWAS Protocol on Democracy and Good Governance. As a one-time legislator myself, I look forward to reviewing a proposal regarding this matter, and we stand ready to support direct elections into the ECOWAS Parliament. We believe this would ensure that citizens have a direct say in their representation – in addition to the legitimacy and credibility such a process will confer,” the President said.
President Tinubu also stated that Nigeria, as the host of the community’s institution, will continue to support the Parliament to achieve its objectives.
“I am aware of the plan to have all ECOWAS institutions in one complex and of the good progress that has been made. Nigeria is also working to meet its responsibilities in constructing the ECOWAS Parliament’s Headquarters in Abuja within the same complex.
“I would like to emphasize that, as you conduct the business of the 6th Legislature, it is my hope that your discussions will provide you the opportunity to address the prime concerns of the region and come up with resolutions that will lead to the attainment of peace and the advancement of all. You can stand assured that Nigeria is always ready to support the ECOWAS Parliament, in whatever endeavours you are engaged, to move the ECOWAS mission forward,” the President stated.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
April 4, 2024
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU TO GAVI CEO: NIGERIAN MANUFACTURERS ARE CAPABLE AND READY TO PRODUCE VACCINES
President Bola Tinubu has called on Gavi, the Vaccine Alliance, to collaborate with potential Nigerian vaccine manufacturers to ensure equitable access to life-saving vaccines for children and adults.
Speaking at a meeting with a delegation of GAVI led by its Chief Executive Officer, Dr. Sania Nishtar, at the State House, on Thursday, President Tinubu said partnership on local vaccine production has become necessary owing to the challenges faced by developing countries, especially during the COVID-19 pandemic and other infectious disease outbreaks.
”We have capable and talented people who can make the necessary contributions to the production of vaccines in Nigeria and the rest of Africa,’’ the President told the visiting CEO, who assumed office on March 18, 2024, and has embarked on visits to some African countries.
The President assured GAVI CEO of Nigeria’s commitment to fulfilling its outstanding counterpart contributions for routine vaccines for the year 2023.
He directed the Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate, to work with the Coordinating Minister of the Economy and Minister of Finance to ensure the release of necessary funds for vaccine procurement.
”We intend to contribute to the development of our healthcare programme, and we are committed to partnering with GAVI,” the President said.
The President stated that his administration is focused on ensuring that no child is left behind when it comes to vaccination against preventable childhood diseases.
”GAVI’s commitment to humanity is recognized throughout the world. Thank you for the impactful commitment to humanity, and we welcome the collaboration to save our children from preventable diseases.
”We as a nation are committed to your values, and we believe that no child should be left unprotected,” he said.
President Tinubu acknowledged the invaluable perspective shared by the GAVI CEO, who hails from a developing country, Pakistan, and emphasized the importance of leveraging her experience for the benefit of children’s health.
Commending Dr. Nishtar for her visit to Nigeria and support for the administration’s health-sector initiatives, the President pledged to prioritize investments in health sector renewal, noting the importance of coordination and collaboration among federal, state, and local governments.
In her remarks, the GAVI CEO congratulated the Nigerian government on its innovative health-sector initiatives, including increasing budgetary allocations to health to 4.6 percent and commitment to providing HPV vaccines for adolescent girls, among others.
She expressed readiness to collaborate with the Federal Ministry of Health and Social Welfare to leverage policy instruments and technical expertise to advance health outcomes.
Dr. Nishtar announced GAVI’s commitment to providing $250 million grant support to Nigeria, as well as its dedication to addressing vaccine inequity in Africa through initiatives like the African Vaccine Manufacturing Accelerator, which has earmarked $1 billion to support the sustainable growth of Africa’s manufacturing base for vaccine production.
”Nigeria is a very special country. It is a very special country in Africa. It is a special country in the world and it is a very special country for us in GAVI. There is a dictum in GAVI that says, ‘there is no success for GAVI without success in Nigeria’,” she said.
The GAVI CEO also informed the President that the GAVI Board will be meeting in the coming weeks to decide on policy decisions that will impact the way in which Nigeria receives support from the organization, beyond 2028, and that her visit to the country was for discussions with Nigeria’s health managers.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
April 4, 2024
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU TO CORPORATE NIGERIA: HAND IN HAND WITH YOU, I CANNOT UNDERPERFORM ON A JOB I CAMPAIGNED FOR
President Bola Tinubu says Nigeria’s economy is at a turning point and will require the steadfast support of the private sector for sustained growth and prosperity.
Speaking during Iftar on Thursday in Abuja with members of the Nigerian business community, the President expressed gratitude for their support and pledged to engage with them more frequently.
”I would have summoned you before now, not during Ramadan, because you are a very valuable part of my constituency.
”There is no driver of the economy that is bigger than the private sector. If the private sector is not flourishing, there is no growth, no prosperity, no employment or development. No matter how flowery the speeches are, not even a mushroom will grow.
”Thank you for persevering. We are at a turning point in our economy. I do not have to do a quadratic equation to illustrate all of that to you. I just want to appreciate you for your endurance and perseverance,’’ the President said.
Sharing insights from his visit to the New York Stock Exchange in 2023, President Tinubu noted Nigeria’s self-belief and determination to drive economic transformation from within.
”At the New York Stock Exchange, I appealed to foreign investors to consider Nigeria as a prime investment destination.
“At the end of my remarks, I told them we only want them to show their face and diversify Nigeria’s economy not as if we cannot do it ourselves.
“Tony Elumelu walked up to me and thanked me for making that statement. We can do it. Nigeria is a self-believer and can always deliver on its own. We know our first name and our last name. Our first name is: Spirit, and our last name is: Can do.”
President Tinubu reiterated his commitment to fulfilling his mandate, emphasizing that he cannot afford to underperform, given the trust placed in him by the electorate.
“I have no reason to underperform as the elected President of the country because I campaigned for the job.
“I cannot complain about the job. I appreciate the gesture, and what you have told me this evening is very inspiring. Cut the costs. Fix the bends. Summon courage. Save the money, but push the economy. We will be there.There are some countries that have failed. There are some countries that have succeeded. In our time, in my time, all of us must work together to succeed. Thank you very much,’’ the President concluded.
In separate remarks at the Ramadan dinner, industrialists, bank executives, and entrepreneurs pledged their support towards the success of the administration’s economic programmes.
Mr. Tony Elumelu, Chairman of Heirs Holdings, assured the President that the Organized Private Sector (OPS) in the country is solidly behind him.
‘‘Your transformation journey to turn around the economy and businesses are very appropriate for the country.
‘‘We appreciate what you are doing. We know the journey will not be smooth, but given the will, we will get to the Promised Land.
‘‘We admire your decisiveness, and we appreciate what you are doing. You are extremely passionate about taking Nigeria to the Promised Land.
‘‘On behalf of the OPS, we want to assure you that we are 100 percent with you. We have engaged with your ministers and associates; we share ideas, and we support them. We know that under your leadership, you have the ability to heal Nigeria permanently,’’ Mr. Elumelu said.
Allen Onyema, Chief Executive Officer, Air Peace, charged business owners and manufacturers to work towards bringing down the cost of products and services.
Citing the example of Air Peace in reducing the cost of air tickets to London, Mr. Onyema thanked President Tinubu for improving the ease of doing business in the country.
”President Tinubu is thinking of the Nigeria of the future. The ease of doing business is coming back gradually. I can attest to that in the aviation sector because of the people you appointed to head that sector.
”I can also attest to what our High Commission in the United Kingdom did in making Air Peace flights into Gatwick Airport a possibility,’’ he said.
Dr. Stella Okoli, pharmacist and founder of Emzor Pharmaceutical Company, urged the President to look into providing more support for the pharmaceutical industry in the country to make it self-sufficient and self-financing.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
April 4, 2024
Business Mogul, Felix Aganbi, lauds Olu of Warri Kingdom, Ogiame Atuwatse 111
Business Mogul, Feli Aganbi, on Tuesday commended Olu of Warri Kingdom, Ogiame Atuwatse 111 for demonstrating exemplary leadership, living above board and for serving as a source of strength and inspiration for many within and outside Warri Kingdom kingdom.
‘’His Royal Majesty, Olu of Warri Kingdom, Ogiame Atuwatse 111, is an intelligent, straightforward, courageous, selfless, amiable and committed patriot’’.
He also praised the Warri monarch for playing significant roles in the promotion of harmony, socio-cultural cooperation, communal living and peaceful co-existence among diverse peoples.
‘’The current peace, progress and prosperity in the Warri Kingdom can be attributed to his wise and benevolent leadership” he said.
Aganbi in a statement in Koko, headquarters of Warri North, praised Ogiame Atuwatse 111 for serving the kingdom with unerring grace, dignity and decency.
Aganbi, Chief Executive Officer of Akogate Water and Ajimele Oil, praised the monarch for stimulating harmony and development in Delta State, Keeping Itsekiri firmly on the road to development and uplifting the fortunes of Warri Kingdom.
Particularly, he lauded His Royal Majesty for utilizing his boundless energy, robust intellect, uncommon courage and tenacity of purpose to motivate members of the traditional council and prominent leaders for the highest ideals of governance, unity and development in Warri Kingdom.
“Ogiame Atuwatse 111, CFR is a man of impeccable character, a man of dignity, wisdom and compassion” he said.
The statement highlighted the monarch’s visionary leadership and selfless service to humanity.
“May the Good Lord, who has blessed Warri Kingdom, grant you good health, wisdom and strength”.
Ending the statement, Aganbi said “Please accept the assurances of my highest esteem and warmest congratulations on occasion of your 40th birthday’’