Tinubu to Corporate Nigeria: I’ve No Excuses to Underperform, I Campaigned for the Job Says govt working to bring down inflation rate, economy being charted to growth path Deji Elumoye and Michael Olugbode in Abuja President Bola Ahmed Tinubu, last
night, told the corporate Nigeria that he had no excuses to underperform because he campaigned for the job of the president of the country.
He, however, declared that Nigeria's economy was at a turning point and would require the steadfast support of the private sector for
sustained growth and prosperity. In yet another meeting yesterday, the president also disclosed that his administration was working
round the clock to bring the nation's inflation rate down to a manageable level. Speaking during Iftar at the State
House, Abuja, with members of the Nigerian business community, the Continued on page 5
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Naira Sustains Gain, Reaches N1255/$1 at Official Window, N1,245/$1 at Parallel Market Landmark Group begs FG to reroute 1.5km of 700km coastal road to save tourism business
Bennett Oghifo and Nume Ekeghe in Lagos The naira yesterday continued to
gain against the dollar, at the official window while it maintained stability at the parallel markets. At the Nigerian Autonomous
Foreign Exchange (NAFEM) window, the naira closed at N1255.07/$1, a gain from its previous close at N1,262.85/$1 on Wednesday, reflecting a gain of
N7.78. However, on the parallel market for the first time in two weeks was unchanged, as it exchanged N1,245/$1
the same as the Wednesday. The daily turnover saw a decline reaching $138.99 million yesterday, in contrast to the $166.18 million recorded
on Wednesday, indicating a decline of 16.36 per cent. Continued on page 5
NERC: Electricity Tariff Increase Would Reduce Grid Collapses, Enhance Supply Senate vows to take action on power rates hike on resumption
Emmanuel Addeh, Chuks Okocha, Adedayo Akinwale, Kingsley Nwezeh, Sunday Aborisade in Abuja and Nume Ekeghe in Lagos
About 24 hours after raising the electricity tariff for premium customers by over 230 per cent, Vice Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr. Musiliu Oseni, yesterday, defended the decision, stressing that it will bolster electricity supply nationwide. Oseni insisted that the move will help reduce incidence of national grid collapses as well as encourage increased investment in the power sector. Speaking during an interview on Arise Television, Oseni, however, added that the commission was implementing measures to prevent any exploitative practices by distribution companies towards customers. He stressed that a situation room will be established to collect and address customer complaints from those impacted by the tariff adjustment. Continued on page 5
TINUBU BREAKS FAST WITH CORPORATE NIGERIA... Standing and speaking is CEO of Airpeace, Allen Onyema; seating next to him, L-R: Chairman of UBA, Tony Elumelu; Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Amina Oyagbola; on the far right is Minister of Trade and Investment, Doris Uzoka-Anite; backing the camera is Vice President Kashim Shettima and President Bola Ahmed Tinubu listening as Onyema made his remarks during the President’s breaking of fast dinner with corporate Nigeria … yesterday night