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Even Tinubu is not sure if Wale Edun resigned or was sacked

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Tinubu

Tinubu faces criticism amid confusion over Wale Edun’s exit as questions grow over whether the former finance minister resigned or was sacked

WALE Edun ceased being anonymous decades ago when he made his name elsewhere.

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He is so close to Tinubu, politically, that if the now President drawled Wale, nobody would be guessing who he meant.

Yet we have been left guessing how the former Minister of Finance and Coordinating Minister of the Economy left office.

It is another proof that the only important thing to Tinubu is his re-election which is getting tougher.

“It has been a pleasure and privilege to serve your administration and the Renewed Hope Agenda,” a press statement by Bayo Onanuga, President Tinubu’s Media Adviser claimed Edun wrote in his letter of resignation.

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“Under your leadership, Nigeria has emerged stronger, more resilient, and more internationally respected.

“I wish you and the administration every success in the future”.

Onanuga’s press release of 22 April was meant to refute the absurdity of Tinubu not knowing how to present the departure of Edun, who had resigned as Commissioner of Finance from Tinubu’s cabinet in 2004 when Tinubu was in his second term as Governor of Lagos State.

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Edun’s ill-health had also been cited then as the reason for his resignation.

In the light of the flagging performance of Tinubu, if Edun a close associate, an astute economist and investment banker resigned, it could be seen as a verdict on the government.

The story would be worse if Edun were sacked after Tinubu had leveraged his expertise in praising the administration’s economic reforms.

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Was Tinubu caught unawares by Edun’s resignation? Could anyone be allowed to walk out of Tinubu, who appears more stranded by the day?

Onanuga, in his statement, doubled down on Edun’s illustrious private sector career, “Before then, he worked from 1980 to 1986 at Chase Merchant Bank (later Continental) in Lagos. He joined the World Bank in September 1986 through the elite Young Professionals Programme, where he worked on economic and financial packages for several countries in Latin America and the Caribbean.
“In 1989, he co-founded Investment Banking & Trust Company Limited (now Stanbic IBTC) and served as executive director.

In 1994, he founded Denham Management Limited, which has since become the Chapelhill Denham Group. He served as chairman from 2008 to 2021.

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Onanuga was 24 hours behind schedule with his curated rebuttal of how other Tinubu worshippers saw Edun. They wanted him out and got Tinubu’s buy-in.

Their dilemma was having no explanation for how suddenly the high-performing economy had conflicting figures of where things stood. They blamed Edun for that.

Edun had been public with poor performance of the budget, low funding of capital projects, rising debts, more borrowing.

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These contradicted Tinubu’s claims about how removal of petroleum subsidy had saved the economy, led to a new prosperity.

In trying to defend Tinubu, he took the blame for low releases for capital projects. We are to believe that there were tonnes of money for the projects and Edun refused to release them.

An admission from the Office of Secretary to Government of the Federation – Edun was removed “to strengthen cohesion and synergy in governance.

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In other words, he was sacked.

Edun had just stepped off the plane from representing Nigeria at the World Bank meetings in Washington. The urgency of removing was obvious.

Nigerians are not buying the stories that “ill-health” saw Edun out of the cabinet. Onanuga said Edun wanted to be excused so that he could focus on “his private business”.

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Almost sounds like an allegation of Edun prioritising personal business over the public’s.

Tinubu cannot sack anyone over such a tribial matter.
Edun, whether he resigned or was sacked, raises more questions about accountability, insecurity, and the “primary purpose of Tinubu’s administration”.

Finally…
KENYAN President William Ruto, possibly irked by President Tinubu’s comment in Yenagoa that Kenyans were suffering more than Nigerians, mauled Nigeria with responses that supervened the matter.

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“Our education is good. If you listen to a Nigerian speak English, you’ll need a translator. We’ve the best human capital anywhere in the world,” Ruto said in a video that has gone viral.

Some communication experts suggest that the response was directly targetted at Tinubu, and not other Nigerians.

FRIDAY morning started for me with the depressing story of Lisa Stephen who bandits left for dead after amputating her.

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Her story on Channel 4 is still on Arise TV YouTube platform.

She lives in Widows Village, near Jos, a place that earned its name from its population of widows who bandits have brutally killed their husbands.

On the night she lost an arm, she lost more.

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The bandits grabbed a 10-month-old baby she was breastfeeding and slashed it into two, forced her to watch her husband shot beside her and her second child killed by breaking the skull.

The villagers dread the next attack which they say will come, and there would be no security agents to defend them.

Didn’t the President deploy 5,000 drones “immediately” against bandits, when he visited Jos Airport? Tinubu is hardly working.

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THE appointment of Fatima Zuntu as Director-General of the National Biosafety Management Agency, NBMA, has hit an iceberg.

The NBMA Act requires 15 years post-qualification experience.

Mrs. Zuntu left school 10 years ago.

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The horde of people around President Tinubu can’t even screen a proposed appointee. We can only imagine what else they are not doing.

SOME communities in Kwara State have fallen under the control of bandits.

What is the benefit of being in the President’s party?

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Governors of 31 States are firmly for the President but none of them is spared the attacks of bandits and terrorists.

What does the President do for those States?

Also read: Tinubu Returns to Abuja After Eid, UK Visit

What does the President do for Nigeria?

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Opinion

Tegbe’s 24-Hour Energy Zones and the Shift From Megawatts to Money

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Tegbe

 By Sufuyan Ojeifo,

There is a point at which a country’s electricity problem ceases to be merely an electricity problem. It becomes a problem of economic geography.

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Also read: Everton Celebrates Nigeria’s 66th Independence With Football Legends

Where can factories operate with confidence? Where can businesses plan beyond the next appearance of a generator? Where can hospitals, schools, technology companies, markets and households begin to organise their lives around the reasonable expectation that electricity will be there?

This is the thinking behind the latest initiative from the Minister of Power, Joseph Tegbe, to develop what the Federal Government calls Energy Zones – defined corridors where homes, businesses and industries could receive stable, 24-hour electricity.

The proposed zones cover the Lagos axis, the Abuja-Kaduna-Kano corridor and the Enugu-Port Harcourt corridor. Tegbe’s latest move is a meeting with selected electricity distribution companies to begin working through what it would take to make the idea real.

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At first glance, it sounds like another promise of uninterrupted electricity in a country that has heard too many such promises. However, there is something more consequential in the architecture of the proposal.

Tegbe is asking Nigerians to look at the power problem differently.

For years, the national conversation has been dominated by generation. How many megawatts are being produced? How much can the transmission grid carry? How many generating plants are working? These are important questions. But electricity does not become useful simply because it has been generated.

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It must travel. It must be received. It must be distributed. And ultimately, somebody must be able to use it. That last part has often been treated as the end of the conversation when, in reality, it is where the economic value of electricity begins.

Tegbe has put the point plainly. The constraint is not limited to generation and transmission; it also includes how much electricity can be taken up and delivered at the distribution end.

The proposed Energy Zones are intended to address precisely that gap while improving commercial demand and the revenue performance of the distribution companies.

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There is an important idea here.

Nigeria does not necessarily have to wait for every weakness in the electricity value chain to be solved simultaneously before beginning to create pockets of reliability.

A country of more than 200 million people, with enormous differences in industrial activity, population density and commercial demand, may have to proceed through carefully selected economic corridors while the wider system is repaired.

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This is not an argument for abandoning the national grid. It is an argument for making the grid more economically purposeful.

The three corridors selected by the Ministry are revealing. Lagos and its adjoining industrial axis represent perhaps the country’s most concentrated commercial and industrial demand.

The Abuja-Kaduna-Kano corridor connects the political capital with major commercial and industrial centres in the North. Enugu-Port Harcourt links important commercial, manufacturing and energy-producing communities in the South-East and South-South.

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These are not simply lines on a power map. They are lines on Nigeria’s economic map. That distinction matters.

For too long, Nigerians have experienced electricity largely as a household inconvenience. The light goes off. The generator comes on. A business buys diesel. A manufacturer factors self-generation into production costs. A hospital makes contingency arrangements.

A young entrepreneur learns, often painfully, that the real price of electricity is not what appears on the bill but what it costs to keep the business alive when the supply fails.

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A reliable electricity corridor changes that equation.

If a factory knows that a particular industrial cluster has dependable power, investment decisions begin to change.

If a commercial district can plan around predictable electricity, operating costs become easier to manage.

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If businesses can depend on supply for most of the day, generators can move from being the first line of defence to being what they were always supposed to be: backup.

This is where Tegbe’s technocratic instincts may prove significant.

His background is not that of a career power-sector operator. His professional experience has largely been in consulting, fiscal and economic reform, institutional transformation and advisory work. That background has been visible in his early approach to the ministry – diagnosis, audits, financial questions, infrastructure bottlenecks, and attempts to identify where one part of the system is preventing another from functioning properly.

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His Energy Zones proposal fits that pattern. It treats the electricity market less as a single machine waiting for one dramatic repair and more as a system of interconnected constraints that can be isolated, diagnosed and addressed.

Tegbe had already identified the three corridors as priorities for grid stabilisation, with technical audits intended to establish the condition of critical infrastructure. The latest engagement with DisCos suggests that the idea is now moving beyond technical diagnosis towards the more difficult question of how distribution will work within those corridors.

That is where the hard work begins.

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A 24-hour power zone cannot be created by a press statement. It requires generation that is available when needed, transmission capacity that can carry it, distribution infrastructure capable of receiving it, transformers and feeders that can withstand the load, metering that properly captures consumption, customers willing and able to pay, and a commercial structure in which the various participants have an incentive to keep the system working.

It also requires protection. Vandalism and energy theft do not respect administrative boundaries. Neither do faulty equipment, unpaid bills or poor collection practices. Tegbe himself has acknowledged that the sector’s problems reinforce one another. Weak collections affect the market. Market weakness affects maintenance and gas payments. Unreliable supply in turn depresses collections.

This is why the Energy Zone experiment, if it is to succeed, must be judged by more than the number of hours electricity is available.

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The real test will be whether reliability begins to produce economic consequences. Does industrial output increase? Do businesses spend less on self-generation? Does investment respond? Do DisCos collect more because customers are receiving a service they can trust? Does the government recover enough value from improved commercial activity to justify further infrastructure investment?

Those are the questions that should eventually accompany the glossy language of 24-hour power.

And there is another question that Tegbe and the Federal Government will have to confront: what happens outside the zones?

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Nigeria cannot become a collection of electrically privileged corridors surrounded by communities waiting indefinitely for their turn.

The logic of concentrating investment in high-demand areas can be defended economically, especially if the resulting commercial activity strengthens the wider electricity market.

But the strategy will ultimately have to demonstrate how successful zones become stepping stones towards broader reliability.

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That is the difference between an experiment and a system.

There is also a danger in admiring the architecture of reform from the comfort of an office.

It has to be said here that the statement issued by the minister’s media aide was long on ambition and conspicuously short on the details that matter. No timeline. No capacity targets. No specific investment figures. It is the kind of announcement that has, historically, been the precursor to nothing at all.

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So Nigerians should watch the idea with interest, but also with the healthy scepticism that comes from decades of promises about electricity.

The minister deserves a measure of credit for at least diagnosing an important part of the illness.

For once, the conversation has shifted from the head to the feet – from generation to distribution, from megawatts to money.

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At the same time, the Nigerian people have been given blueprints before. They have learned to admire the drawings while the building crumbles.

The Energy Zones remain a proposal. The government has not yet announced the detailed capacity requirements, implementation timetable or precise infrastructure investments that would make 24-hour supply possible.

That is not necessarily a fatal flaw. It may simply mean the idea is still being worked out.

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But it does mean that the language of 24-hour power should be treated as an aspiration until it is matched by the machinery of implementation.

Yet the proposal deserves attention because it reflects a potentially important shift in the way the power problem is being conceived.

Nigeria may not fix its electricity crisis in one heroic sweep. It may have to build reliability corridor by corridor, demand centre by demand centre, and economic cluster by economic cluster.

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There is nothing inherently glamorous about such work. It is engineering, finance, regulation, distribution and relentless attention to the weak link in the chain. But perhaps that is precisely the point.

The country has spent decades waiting for the great national electricity breakthrough.

Tegbe’s emerging approach suggests something less dramatic and potentially more practical: make a few economically critical parts of the system work properly, learn from them, strengthen the model, and expand it.

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The success of that approach will ultimately be measured not in speeches or megawatts, but in what Nigerians can do with the electricity when it arrives.

Does the factory run a second shift? Does the business hire more workers? Does the hospital keep its equipment running through the night? Does the young entrepreneur stop budgeting for diesel and start budgeting for growth?

Also read: Everton Celebrates Nigeria’s 66th Independence With Football Legends

That is where the real power story begins. And that is the standard against which Tegbe’s Energy Zones should ultimately be judged: not by whether 24-hour power sounds impressive in a press release, but by whether the lights stay on long enough for Nigerians to build something with them.

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