Headlines
Pastor Tunde Bakare Joins Presidential Race, Buys APC’s N100m Nomination Forms
Serving Overseer of the Citadel Global Community Church, Nigeria, PastorTunde Bakare, has obtained the N100 million presidential Expression of Interest and Nomination forms of the ruling All Progressives Congress.
He obtained the forms at the All Progressives Congress headquarters in Abuja on Thursday.
The pastor would officially declare his presidential ambition on Monday, May 9, 2022, at the Shehu Musa Yar’Adua Centre, Central Business District in Abuja, according to a statement,
The statement was obtained by our correspondent on Thursday.
Tunde Bakare was a former Vice-Presidential candidate to Muhammadu Buhari during the 2011 elections under the Congress for Progressive Change and he is also the Convener of the Save Nigeria Group.
The statement read, “Having been privileged to serve Nigeria in various nation-building capacities, I intend to take a step further in the service of our beloved country and of you, her worthy citizen, by running
for the Office of the President of the Federal Republic of Nigeria
“It is with utmost humility, therefore, that I write to formally inform you – distinguished citizens of our nation, elder statesmen and stateswomen, political leaders, traditional leaders, overseers of religious establishments, members of civil society, policymakers, students, public servants from the national and sub-national levels of government, stakeholders from the private sector, the intelligentsia, opinion moulders, thought leaders from various institutions of knowledge, and every Nigerian, home and abroad – of my intention to contest.
“Propelled by the desire to rebuild Nigeria into a nation that works for every Nigerian, I have, in the past, engaged in the political process as running mate to President Muhammadu Buhari in the 2011 presidential elections under the Congress for Progressive Change, and subsequently, as the founding member of the All Progressives Congress who moved the motion for the merger that produced the APC.
“I have also served as a leader in the civic space as the Convener of Save Nigeria Group, a coalition of civil society groups that facilitated the rightful recognition of President Goodluck Ebe le Jonathan, first as Acting President, and then as substantive president, through a grassroots people movement and high-level advocacy.
“In 2014, it was my privilege to be selected as a South-West Delegate to the National Conference, where I proposed “The Nigerian Charter for National Reconciliation and Integration” that was unanimously adopted and incorporated into the final report.
“Furthermore, I have been actively involved in awakening collective citizen ownership through the pulpit as the founding Serving Overseer of the Citadel Global Community Church, formerly known as The Latter Rain Assembly.
“I have, in addition, contributed to engendering social, political and economic shifts in Nigeria through propositional platforms, including through such initiatives as the New Nigeria Dialogues, the inaugural event of a think-tank I founded in 2009. I have also provided pro bono advisory services to government institutions through key policy inputs, while fostering coalition-building across divides, in addition to building thriving businesses in diverse sectors.
“I have remained committed to harnessing my local and international networks, platforms and resources towards
the emergence of the New Nigeria. As I offer myself to serve you and to work with you towards the
peace, progress and prosperity of Nigeria, as well as the realisation of the enormous possibilities of a great nation in this decade, it would be a great privilege to welcome you as my special guest on the occasion of the formal declaration of intent.”
The Punch
US President Donald Trump has signed a federal spending bill, officially ending the longest government shutdown in American history.
The legislation, passed by the House of Representatives in a 222–209 vote, followed narrow approval in the Senate just two days earlier. The bill restores funding to federal agencies after 43 days of closure, bringing relief to millions of government employees and citizens affected by halted services.
Speaking after signing the measure on Wednesday night, Trump described the deal as a political victory, asserting that Democrats unnecessarily prolonged the shutdown.
“They didn’t want to do it the easy way. They had to do it the hard way, and they look very bad,” he said.
The temporary funding bill maintains government operations only through 30 January, creating a new deadline for lawmakers to negotiate a long-term budget solution.
As part of the agreement, Senate leaders committed to an early December vote on Obamacare subsidies, a key priority for Democrats during the shutdown standoff.
In addition to reopening federal offices, the bill provides full-year funding for the Department of Agriculture, military construction projects, and several legislative branch offices.
It also ensures retroactive pay for federal workers affected by the shutdown and allocates funding to the Supplemental Nutrition Assistance Program, SNAP, which helps about one in eight Americans access food.
The shutdown, which began in October, forced the suspension of many government services, leaving an estimated 1.4 million federal employees either furloughed or working without pay. It also disrupted food assistance programmes and caused widespread delays in domestic air travel.
With federal operations now resumed, attention in Washington has turned to whether Congress and the White House can reach a longer-term funding agreement before the new deadline at the end of January.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), on Thursday, announced discontinuation of the planned 15 per cent duty on imported petroleum products.
NMDPRA’s Director, Public Affairs Department, George Ene-Ita, conveyed the development in a statement while warning the public to shun panic buying.
President Bola Tinubu, on October 29, approved an import tariff on petrol and diesel, a policy expected to raise the landing cost of imported fuel.
The President’s approval was conveyed in a letter signed by his Private Secretary, Damilotun Aderemi, following a proposal submitted by the Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji.
The proposal sought the application of a 15 per cent duty on the cost, insurance, and freight value of imported petrol and diesel to align import costs with domestic market realities.
Implementation was slated to take effect on November 21, 2025.
The policy aimed to protect and promote local refineries like the Dangote Refinery and modular plants by making imported fuel more expensive.
While intended to boost local production, it is also expected to increase fuel costs, which could lead to higher inflation and transportation prices for consumers.
Experts have argued that the move could translate into higher pump prices for consumers, with some estimating an increase of up to N150 per litre or more.
In an update, however, NMDPRA said the government was no longer considering going ahead with implementing the petrol import duty.
“It should also be noted that the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in View,” the statement read in part.
Meanwhile, the NMDPRA also assured all that there is an adequate supply of petroleum products in the country, within the acceptable national sufficiency threshold, during this peak demand period.
“There is a robust domestic supply of petroleum products (AGO, PMS, LPG, etc) sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations during this period.
“The Authority wishes to use this opportunity to advise against any hoarding, panic buying or non-market reflective escalation of prices of petroleum products.
“The Authority will continue to closely monitor the supply situation and take appropriate regulatory measures to prevent disruption of supply and distribution of petroleum products across the country, especially during this peak demand period.
“While appreciating the continued efforts of all stakeholders in the midstream and downstream value chain in ensuring a smooth and uninterrupted supply and distribution, the public is hereby assured of NMDPRA’s commitment to guarantee energy security,” the statement added.
The Senate has approved President Bola Tinubu’s request to raise N1.15 trillion from the domestic debt market to cover the unfunded portion of the 2025 budget deficit.
The approval followed the adoption of a report by the Senate Committee on Local and Foreign Debt during plenary on Wednesday.
The committee noted that the 2025 Appropriation Act provides for a total expenditure of N59.99 trillion, representing an increase of N5.25 trillion over the N54.74 trillion initially proposed by the Executive.
This expansion created a total budget deficit of N14.10 trillion. Of this, N12.95 trillion had already been approved for borrowing, leaving an unfunded deficit of approximately N1.15 trillion (N1,147,462,863,321).
In a related development, a motion by Senator Abdul Ningi was adopted, directing the Senate Committee on Appropriations to intensify its oversight to ensure that the borrowed funds are properly implemented in the 2025 fiscal year and used strictly for their intended purposes.
President Tinubu had on November 4th requested the approval of the National Assembly for a fresh ₦1.15 trillion borrowing from the domestic debt market to help finance the deficit in the 2025 budget.
The President’s request was conveyed in a letter. According to the letter, the proposed borrowing is intended to bridge the funding gap and ensure full implementation of government programs and projects under the 2025 fiscal plan.
