By: Manoah Kikekon
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| Bola Ahmed Tinubu |
ABUJA, NIGERIA – As the 2026 Ramadan season draws to a close, President Bola Ahmed Tinubu has issued a direct challenge to Nigeria’s media industry: follow the money. During a high-profile Iftar gathering at the Aso Rock Presidential Villa on Friday, the President urged media proprietors and executives to extend their investigative spotlight beyond the federal level and hold subnational authorities accountable for their ballooning revenues.
The President’s appeal comes at a pivotal moment in Nigeria’s journey toward true fiscal federalism, following the landmark 2024 Supreme Court ruling that granted full financial autonomy to the country’s 774 Local Government Areas (LGAs).
President Tinubu emphasized that his administration has dismantled the barriers that previously hindered local governments from accessing their funds directly. "We’ve opened up the principle of federalism to the extent that local governments are now getting their money," the President stated.
However, he was quick to point out that with great power and great funding comes a heightened need for oversight. "How they use it is in your hands, so don’t bombard me alone. Look at local government too, and equally, the sub-national," he urged, noting that states are also currently in their strongest financial positions in decades.
Reflecting on the impact of his economic reforms, President Tinubu highlighted a significant shift in state-level stability. While many states historically relied on federal bailouts and loans to pay civil servants, the President claimed that era is effectively over.
"Today, there is no state that is borrowing to pay the salaries of employees," Tinubu declared. While acknowledging that current allocations may still feel insufficient given the economic climate, he stressed the importance of strategic management. "We have to manage what we have to sustain today, survive tomorrow, and make progress."
In a rare moment of personal candor, the President confessed that he is a "daily addict" of Nigerian newspapers. "There is no morning that I ever leave my house without going through the newspapers. I read all of you might not be in full detail, but the headline, the one that hit me," he disclosed.
He thanked the media for their relentless criticism, admitting he was "a little stubborn" at the start of his administration due to the volume of negative headlines. However, he credited this "barrage" with provoking the intellectual curiosity required of a leader who must perform. "You didn't spare me, but you challenged me," he told the executives.
Addressing the controversial removal of the petrol subsidy in May 2023, the President insisted the decision was a matter of survival. He argued that at the time he took office, Nigeria was "cheating on the edge of bankruptcy."
"I cannot look back other than make corrections as I move along, save the nation, and bring it back from the brink," he said. He pointed to current improvements in foreign exchange management and inflation control as evidence that the country has successfully been pulled back from the precipice of total economic collapse.
Acknowledging the "almost impossible" challenge of sourcing funds in the current economic landscape, President Tinubu expressed empathy for the operational hurdles facing media houses. He specifically addressed the issue of tariffs affecting the industry.
"The question of tariff was discussed this afternoon," Tinubu revealed. "What I cannot report back here is whether I took action in the area that affected you or not, but if I missed that, I’ll go back to rectify."