BEING THE TEXT OF AN ADDRESS PRESENTED AT THE ONE YEAR ANNIVERSARY OF THE ADMINISTRATION PRESIDENT BOLA AHMED TINUBU GCFR BY THE NATIONAL COORDINATOR OF TINUBU NATIONAL THINK TANK AMB. DR. ADEWALE ADEOGUN ON THE 30TH OF MAY, 2024 AT BARCELONA HOTELS, ABUJA.

Protocol:

1. I welcome you to the formal celebration of His Excellency President Bola Ahmed Tinubu (GCFR) one year in office with the theme “Renewed Hope Matched with Actions”.

2. The One Year Anniversary celebration is organized by the Tinubu National Think-Tank (TNT), in collaboration with I Believe in One Project and Nigeria Political Summit Initiative.

3. I welcome our esteemed guests, members of our great party, the All Progressives Congress (APC, and our teeming supporters across the 36 states of the federation and in diaspora. I acknowledge your efforts and sacrifice from the primary election of our party, the APC, the general election, our victory party celebration during the inauguration of our President and the past one year in office celebration today.

4. TNT is a human resource Centre established to serve the interest of President Bola Ahmed Tinubu’s administration and our great party, the APC, to address government and governance issues at the federal, state and local government levels. We project, defend, and rationalize the policies and programmes of this administration and the party in fora, social, and print media. We provide the needed manpower and skills for governments at all levels to utilize for national socio-economic development and youth empowerment.

5. Today, we are proudly celebrating the one-year anniversary of this administration and our existence as a corporate entity, and ensuring that we remain active and visible in the political space to support this administration and our party, the APC, to achieve success and address our developmental challenges.

6. We are proud to identify with President Bola Ahmed Tinubu and his team of competent ministers and administrators. They have demonstrated quality and competence for the past one year in office. They have also shown capacity to deliver and address numerous challenges confronting our dear nation through strategic reforms and interventions with impactful and obvious outcomes. The President is building a solid foundation for the prosperity of our country in the near future.

7. Some of the strategic reforms and interventions of this administration are worth mentioning. The Executive Secretary of the Nigeria Extractive Industry and Transparency Initiative (NEITI), Dr. Ogbonnaya Orji disclosed in March 2024 that Nigeria had an increased revenue flow of 23% in 2023. This made it possible for the three tiers of government to share over N10 trillion in 2023. This is highly attributed to the reforms of this administration in the second quarter with instant impacts in the third and fourth quarters of last year. The revenue forecast of 2024 is over N18 trillion.

8. In the month of March 2024 alone, the three tiers of government shared N1.1 trillion from the gross total revenue of N1.8 trillion. As suggested by Barr. Olisa Agbakoba, SAN, and reinforced by Senator Sani Musa at the sideline of the colloquium organized to commemorate the 61st birthday celebration of the President of the Senate, His Excellency, Senator Godswill Akpabio; the 2025 national budget of N100 trillion is achievable against the 28.7 trillion budget of 2024.

9. The United Nations Statistical Commission recommended rebasing the economy every five years to reflect updated economic conditions. The last rebasing exercise in Nigeria was in 2014, with our Gross Domestic Product (GDP) projected to reach 487 billion US Dollars by the end of 2024. After the rebasing exercise by the Nigeria Bureau of Statistics (NBS), the One trillion-dollars economic projection of Mr. President will be achievable before the end of his first term in office in 2027.

10. Before the administration of President Bola Ahmed Tinubu in May 29, 2023; the Nigerian National Petroleum Company Limited reported to the Federation Accounts Allocation Committee (FAAC) that fuel subsidy cost the government the sum of N1.5 trillion in 2021; N1.2 trillion in 2022; and over N3 trillion budgeted for it between June 2022 to June 2023. However, between June and September 2023, the federal government saved N1.4 trillion based on FAAC allocation documents from NBS. This will lead to freeing up of financial resources for other sectors of the economy, incentivize domestic refineries to produce petroleum products, reduce dependence on importation, increase employment and channel funds for the development of critical public infrastructure among other medium and long time benefits.

11. The International Monetary Fund (IMF) has revised Nigeria’s GDP growth to 3.3% in 2024 based on our economic reforms and interventions through policy measures in stabilizing key microeconomic indicators.

12. The unification of the exchange rate in the country has helped to increase access to foreign exchange based on a single known exchange rate in Nigeria. There is an increase in Foreign Direct Investment (FDI) in the country, and remittances with the restoration of investors’ confidence to do business in Nigeria. Foreign Portfolio Investment (FPI), into the Nigerian Stock Market, rose by 168% Year-On-Year (YOY) to N119 billion in February 2024 from N44 billion in February 2023. This was attributed to improved liquidity in the Foreign Exchange Market through reforms by the Central Bank of Nigeria (CBN). Foreign Direct Investment is expected to double in 2024.

13. From Ministry to Ministry, the success story of this administration is something to celebrate after one year in office. From the N2 trillion Infrastructure and Housing Initiative through Public-Private Partnership, to the Lagos-Calabar Costal High way which is expected to create 30 million jobs, to the Abuja Metro train line and other massive road projects within Abuja and across the country; there are thousand and one reasons to celebrate this administration’s success story.

14. Millions of Nigerians are benefiting from massive economic reforms and interventions in the small and medium scale enterprises sub-sector, students’ loan funds, and other critical intervention strategies of Mr. President and his team.

15. As we celebrate Mr. President’s achievements today, let us collectively support him and pray for many more achievements for employment generation, poverty reduction, and economic recovery of all sectors of our economy, especially food inflation. Our loyalty to Mr. President is strong and active because we believe that positive loyalty is beneficial in the long run. We also need his support to contribute our quotas to his success story.

16. On behalf of the Tinubu National Think-Tank (TNT) and its partners; we congratulate President Bola Ahmed Tinubu, GCFR, and his industrious and innovative team for his massive interventions and reforms geared towards resetting the economy on the path to economic growth and socio-political transformation for the betterment of the Nigerian state. Let us celebrate with strong faith and hope for better days ahead for our dear country, Nigeria, and future electoral victories for our dear party, the All Progressives Congress (APC).

17. TNT and it’s partners are aware of some of challenges facing Nigerians and in Particular those who worked for Mr. President, be rest assured that our Principal is a Listening Leader, there will be amendments where necessary.

18. Today, Tinubu National Think Tank TNT will honour a Hero of the Struggle towards entronment of the Administration with a Posthumous Award. May I at this point ask for a one minute silence for Late Prof. Abdullahi Muhammed Shinkafi and others who are not privileged to be alive today. May their Souls rest in Perfect Peace.
19. TNT will soon initiate a Foundation to Immortalize the late Professor.
20. The Committee to handle this Foundation will be set up and Inaugurated immediately with inputs from his friends and Families.
21. On behalf of Leaders and Members of TNT and our Other Partners, I thank you All for your Attention.
22. God Bless Our President! God Bless Our Party and God Bless the Federal Republic of Nigeria

Amb. Dr. Adewale Adeogun
JAKADAN AREWA (Ambassador of Peace)
National Coordinator TNT
30-05-2024