00:00Nigeria President, Bola Ahmed Tanubu has said that the West Africa country has no fear over whatever the President of the United States, Donald Trump is doing, although the Nigeria President did not give details what the US President is doing that the nation has no fear of, but,
00:18President Tanubu at a meeting with political leaders at the State House in Abuja on Tuesday said that the country has met its revenue target for 2025 from non-oil revenue sources, saying, if Nigeria as of August has already met revenue target from non-oil products, the country has no fear of whatever the President of the United States, US is doing, adding that, the economy of the country is now stabilized, saying,
00:47the Naira currency is now performing well in the foreign exchange market, with a claim he met dollar exchange rate at 1,900 Nairas per $1 on May 29, 2023 when he took over as the President of the West Africa country, praising himself that he has worked hard to reduce the foreign exchange rate from 1,900 Nairas to 1,450 Nairas per $1, a claim,
01:14we fact-checked to be very incorrect, we observed that President Bola Tanubu on May 29, 2023 met for an exchange rate at 461 Nairas per $1, on the day of his inauguration, President Bola Ahmed Tanubu issued a policy statement directing the Central Bank of Nigeria to ensure a unified exchange rate,
01:36a policy statement, a policy statement that made the exchange rate to increase from 461 Nairas to 853 Nairas per $1 at the end of 2023.
01:47After the President, Bola Ahmed Tanubu officially pegged and increased the foreign exchange rate from 461 Nairas to 750 Nairas per $1 in his 2024 budget,
02:00which made cost of foodstuff and other cost of living in the country to increase more than 200%, and while presenting the 2025 budget,
02:10President Bola Ahmed Tanubu pegged and increased the foreign exchange rate from 750 Nairas to 1,500 Nairas per $1, this policy action of the President has since made cost of foodstuffs
02:24and other basic necessities in Nigeria to increase outrageously more than 700% with no reduction till date,
02:32like, a sachet water that used to be sold for 5 Nairas is now sold between 20 Nairas to 50 Nairas in some locations in Nigeria.
02:42Details of some of President Bola Ahmed Tanubu's statements as presented by the Presidential Spokesperson,
02:48Bayo Onanuga reads verbatim below.
02:52President Bola Ahmed Tanubu said on Tuesday in Abuja that the revenue target for 2025 was achieved in August,
03:00following economic reforms focused on stimulating the non-oil sector.
03:04He said that the bulk of the revenue came from the non-oil sector.
03:09The President assured Nigerians that the Renewed Hope agenda is firmly anchored on building critical infrastructure,
03:15improving health facilities, ensuring food sovereignty, and providing security.
03:21He spoke at a meeting at the Presidential Villa with the founding members of the defunct Congress for Progressive Change
03:27and the Buhari Organization, led by the former governor of Nasrawa State, Umaru Tanko al-Makura.
03:34President Tanubu said that the economy was heading in the right direction.
03:38The economy is now stabilized.
03:41Nobody is trading pieces of paper for foreign exchange, forex, anymore.
03:47The economy is now predictable.
03:49You do not need to know the CBN governor, Yemi Cardoso, to obtain foreign exchange or import goods.
03:57What we need now is building the ship and the vessels for the export of our goods and creating more jobs for our people,
04:03the President noted.
04:05He said the federal government will establish agricultural mechanization centers in all regions of the country
04:11to build capacity, expand cultivation and harvest, and guarantee food sovereignty.
04:17We are going to have trainees.
04:19That program is our path to food sovereignty.
04:22Quote, reflecting on his long-standing relationship with the CPC,
04:27President Tanubu described the political
04:29Journey and merger as, a sweet memory, and express gratitude to the group for their support.
04:35When I see people like you, I am determined to work harder.
04:39President Tanubu assured the delegation that the legacies of former President Mohamedou Buhari
04:45would be sustained and immortalized with the Buhari House,
04:48adding that more members of the old CPC would be given opportunities to participate in the government.
04:54Thank you for your patience until now, but first of all, we must cure the economy and bring hope to the people,
05:02which is what we stand for.
05:04Thank you for believing in me, he said.
05:07The Speaker of the House of Representatives,
05:09Right Honorable Tajuddin Abbas thanked President Tanubu for his statesmanship
05:14and magnanimity towards the people and government of Katsina State.
05:18Abbas thanked the President for his vision and broad-mindedness in accommodating all political stakeholders.
05:25The leader of the delegation and former Governor of Nasarawa State, Al-Makura,
05:30said members of the former Congress for Progressive Change are committed to the success of the APC government.
05:36Al-Makura thanked the President for his extensive participation in the final rites for President Buhari.
05:42You not only buried President Buhari but also honored him and ensured a befitting state burial with full military honors.
05:49Above all, your presence throughout the ceremony was comforting as it was reassuring,
05:55Al-Makura stated.
05:57He assured President Tanubu of the group's loyalty and support.
06:01This is to assure you that we believe in your administration,
06:04and that will be our focus and commitment to ensure the success of our party
06:08and your ultimate victory in the 2027 elections, Al-Makura stated.
06:13The economy is stabilised.
06:20Nobody is trading a piece of paper for exchange rate anymore.
06:28When I took over 1.9, it's 1.35, 1.45 now.
06:51It's been stabilised.
06:52There are people who can predict.
06:54You don't have to know a Cardozo before you get your foreign exchange, you get your imports.
07:03What we need now is building the ship, the vessels,
07:08for export and import of our goods,
07:11and create jobs for the people.
07:13There's a guarantee that I know many of you are to suffer the initial abuse and the fear.
07:36Where are we going?
07:37We know the direction that we should go.
07:41We are going up.
07:47No, those who may not know, who may not know.
07:51Today I'm standing before you, I can brag
07:53that Nigeria is not borrowing.
07:57A dime.
07:59From Luka Bank.
08:00The referendum, we have met our target of revenue
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