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Ex-minister Yuguda tackles Atiku over attack on Jonathan
By Bonaventure Phillips Melah
Bashir Yuguda, a former Minister of National Planning and Minister of State for Finance, has said that the administration of former President Goodluck Jonathan left a legacy of good governance, democratic leadership, economic reforms, and statesmanship that cannot be undermined by false narratives.
Yuguda who also served Nigeria as Ambassador to the United Arab Emirates and Qatar, was reacting to a remark credited to former vice president Atiku Abubakar who was quoted to have said that Jonathan’s administration was affected by inexperience.
Yuguda said in a statement on Friday that the former President governed with honour, experience, vision, and restraint, particularly during the 2015 transfer of power.
Atiku had said during an interview on ARISE News Channel, that many young leaders in Nigeria have found it difficult to succeed in office because they lack adequate experience and are not fully prepared for the demands of governance.
The former Vice-President pointed to Nigeria’s leadership transition after the tenure of the late Umaru Musa Yar’Adua, stating that although Yar’Adua had a promising start in office, the administration that followed under Goodluck Jonathan later struggled amid growing national challenges.
“For instance, like this case of Umaru Yar’Adua, who started very well and was succeeded by Goodluck Jonathan. I know Jonathan very well — a decent young man — but he was inexperienced, and that, I believe, also contributed to his failure to manage the affairs of the country, particularly when he was faced with challenges,” he said.
Reacting to the former Vice-President’s remarks, Yuguda described Atiku’s comments as inaccurate and inconsistent with the facts.
He stressed that before Jonathan took the presidential oath, he had already served in key executive positions as Deputy Governor, Governor, Vice-President, and later Acting President during the illness of the late Yar’Adua, adding that these were not ceremonial roles but critical leadership experiences that prepared him for governance at the highest level.
The former minister stated, “During that period, Nigeria’s economic profile expanded significantly. The country attained the status of Africa’s largest economy, attracted strong investor confidence, and maintained relative stability in key indicators. Poverty levels declined to some of the lowest recorded since the return to democratic rule in 1999. These are not retrospective claims; they are outcomes documented by credible institutions.
“In agriculture, the administration moved the conversation from subsistence to sustainability. Reforms in the sector improved food availability and earned Nigeria global recognition for progress towards hunger reduction targets.
“The Jonathan administration revived train routes across Nigeria to provide an inexpensive alternative to road and air travel. On behalf of the President, I personally commissioned the rehabilitation and restoration of the Zaria–Gusau–Kaura Namoda rail line, which had deteriorated over time following 26 years of neglect.
“His vision for transformational development also found expression in the attention he gave to the education sector. He established no fewer than 12 new federal universities, with nine of them in the North, and about 165 Almajiri schools to enhance access to education across the country. Those of us in government at the time understood that these gains were the result of focused policy execution, not happenstance.”
Yuguda said what stood out most about former President Jonathan to many of those who served with him was his temperament.
The former Minister of State for Finance continued:
“He possessed a calmness that steadied governance, even in moments of pressure. I recall numerous occasions when he would discourage any attempt by his appointees to respond sharply to critics, including former leaders. His position was clear: leadership must not descend into unnecessary confrontation.
“That disposition was consistent with the loyalty he demonstrated to his own principal, President Umaru Musa Yar’Adua of blessed memory. Even in trying times, he upheld the dignity of that office and the sanctity of that relationship. Even as a former President, he has continued to visit his successors, including President Bola Ahmed Tinubu, to consult them on important national and sub-regional issues. It is a standard worth reflecting on, especially when contrasted with the well-known strains that existed between Vice-President Atiku Abubakar and President Olusegun Obasanjo during their time in office.
“No leader is beyond criticism, and President Jonathan himself would be the first to acknowledge that he is human and capable of error. But to reduce his presidency to a question of inexperience is to overlook both the depth of his preparation and the substance of his record.
“His most enduring legacy, in my view, lies in his respect for democratic values. Despite the security challenges at the time of the 2015 elections, Jonathan did not use them as an excuse to prolong his stay in office. He not only ensured that elections were conducted even in areas with the most difficult security challenges, he also pioneered the deployment of technology to enhance the transparency and credibility of the electoral process.”
Yuguda recalled that Jonathan honourably conceded power without hesitation, placing national stability above personal ambition — a decision he said profoundly shaped Nigeria’s democratic culture.
The statement added, “President Jonathan has remained consistent even out of office, measured in speech, respectful of institutions, and disinclined towards inflammatory commentary. That is why he has continued to be in high demand in peace negotiations and election observation missions within and outside Africa. In an era where political discourse is often heated, that restraint is not weakness; it is statesmanship.
“Ultimately, Nigerians will judge based on evidence, not assertions. They can differentiate between leadership that left tangible footprints and narratives that seek, after the fact, to redefine it. President Jonathan’s contributions are visible, documented, and enduring.
“They do not require embellishment, and they certainly cannot be diminished by revisionist claims, especially by one whose claim to experience in the last two decades has remained an unrealised ambition to be elected President of our great country.”
“We must reflect on what might have become of our nation’s democracy if those who now criticise Jonathan had found themselves in his position when his former boss, President Yar’Adua of blessed memory, fell ill.
“Would they have acted with the same wisdom, decorum, and restraint that Jonathan demonstrated in the interest of preserving the nation’s fragile democracy, or would personal ambition have driven them to destabilise it?” he asked.
News
Police condemn killing of Benue MACBAN chairman
Benue State Police Command has condemned the killing of the Chairman of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Benue State chapter, Ardo Rabo Mohammed, and another man, Yakubu Isa, describing the attack as a senseless criminal act capable of undermining ongoing peace and security efforts in the state.
The victims were reportedly attacked by gunmen while returning from a security meeting along the Okwudu-Ogoli Road in Otukpo Local Government Area.
In a statement issued on Saturday, the Police Public Relations Officer, DSP Udeme Edet, said the Commissioner of Police, CP Cletus C.N. Nwadiogbu, condemned the killings and expressed condolences to the families of the deceased.
“The Commissioner of Police strongly condemns in its entirety the brutal killing of the Chairman of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Benue State chapter, Ardo Rabo Mohammed, and one Yakubu Isa, who were reportedly attacked by unknown assailants while returning from a security meeting along Okwudu-Ogoli Road, Otukpo,” the statement read.
According to the police, the command has commenced a full-scale investigation into the incident, with tactical and intelligence teams deployed to track down those responsible.
The Commissioner assured residents that the command would leave no stone unturned in ensuring the perpetrators are identified, arrested and prosecuted.
He appealed to members of the public to remain calm, avoid taking the law into their own hands, and refrain from spreading unverified information capable of escalating tensions.
The police also urged anyone with credible information that could aid the investigation to report to the nearest police station or contact the command through its emergency lines.
News
Lady identifies bandits that abducted her, leading to their arrested wth N11m recovered
Three bandits have been arrested in Benue state after a lady who they had kidnapped and released, identified them at a motor park and raised alarm.
The k!kidnappers came to Ihotu park to board a vehicle to Makurdi and were met by the lady they had earlier kidnapped and released after collecting ransom from her relatives.
They were even using a bag they collected from the girl. The girl raised the alarm, held one inside the vehicle, and two took to their heels, but were caught.
They had a ghana-must-go bag at the back of the vehicle. N11m was found inside the bag.
Following the confirmation of their identity by another lady who was also their victim, mob gathered around with the intent to beat them up and possibly set them ablaze.
But the park manager decided to invite the police and soldiers who rescued them and took them to their station.
It was later gathered that the Benue state Governor, Rev. Father Hyacinth Alia called and said he was interested in the case which made the police to take the apprehended bandits to Makurdi, the state capital.
News
Tinubu’s govt ignores IMF, draws additional loan of $2.5b from UAE
President Bola Tinubu Federal Government has drawn down $1.5bn from a $5bn financing facility arranged with the United Arab Emirates’ largest lender, First Abu Dhabi Bank, despite growing concerns from global financial institutions over the increasing use of complex derivative financing by African sovereigns.
Bloomberg reported on Friday that the latest drawdown represents the first tranche of a $5bn Total Return Swap facility approved by the National Assembly on March 31, 2026, and is expected to support the 2026 budget, finance infrastructure projects, and refinance existing debt obligations.
The report quoted people familiar with the transaction, who asked not to be identified because they were not authorised to speak to the media.
The report read, “Nigeria has accessed the first tranche of a $5bn derivatives deal with the United Arab Emirates’ largest lender, pressing ahead with a transaction that has been scrutinised for being opaque.
“The West African nation drew about $1.5bn in the last couple of weeks from a total return swap transaction with First Abu Dhabi Bank PJSC, according to people familiar with the transaction, who asked not to be identified because they were not authorised to speak to the media.”
The transaction comes at a time when Nigeria is facing higher borrowing costs in international capital markets, forcing the government to seek alternative financing arrangements to shore up its fiscal position and improve access to foreign exchange liquidity.
Under the arrangement, Nigeria is required to pledge Federal Government securities worth about 133 per cent of any amount drawn under the facility. This means that for the full $5bn facility, the government would have to post approximately $6.65bn worth of naira-denominated bonds as collateral.
In return, the Abu Dhabi-based lender provides dollar liquidity to the Nigerian government. The Federal Government will pay a floating interest rate benchmark plus about four percentage points, while the lender receives the returns generated by the underlying government securities.
The transaction effectively allows Nigeria to unlock immediate dollar funding without issuing new Eurobonds or taking on traditional external loans at prevailing market rates, which have become increasingly expensive for frontier economies.
The government has already indicated that the proceeds from the initial $1.5bn drawdown will be deployed to support budget implementation, fund critical infrastructure projects, and refinance costlier domestic and external debts.
However, the financing arrangement has attracted criticism from international financial institutions and market analysts over concerns about transparency and potential hidden liabilities.
In its June 2026 assessment of African sovereign debt markets, the International Monetary Fund warned that derivative financing structures such as total return swaps are often opaque and difficult for investors and creditors to monitor.
The IMF noted that such arrangements are “hard to track, hard to value in real time, and can obscure the true extent of a country’s financial obligations.”
Three days ago, Fitch Ratings warned that Nigeria’s planned $5bn financing arrangement with First Abu Dhabi Bank could increase sovereign debt risks and reduce transparency in public debt reporting.
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