Sunday Dare speaks as guest speaker at Gazelle News Event- identifies 3key revenue sector for PPP, Alake Solid Minerals,Increased FDI from non-oil revenue sector
Blog post description.
baron
7/16/20262 min read
BREAKING NEWS
Sunday Dare and Senator Musiliu Obanikoro Deliver Powerful Addresses on Tinubu Administration’s Gains and Lagos Future
At the Gazelle News Annual Lecture on July 15, Chief Sunday Dare, Special Adviser to President Bola Tinubu on Media and Public Communications, delivered a masterclass speech outlining the Tinubu administration’s key economic achievements. He emphasised local government autonomy as the critical mechanism to channel these gains directly to the grassroots.
Senator Musiliu Obanikoro, Director General of the Dr. Obafemi Hamzat Governorship Campaign and current Deputy Governor of Lagos State, assured Lagosians that the incoming Governor Hamzat will elevate the state to the next level.
Key Highlights from the Presentation:
• Nigeria has grown its monthly federal revenue base to ₦8.8 trillion (from under ₦1 trillion previously), largely driven by non-oil sectors.
This remarkable fiscal expansion rests on three major pillars:
1. Solid Minerals Revolution (led by Minister Dele Alake)
• Five lithium processing plants are now operational in Nasarawa, Abuja, and Zamfara.
• Combined daily capacity: 10,000 metric tonnes of lithium.
• Projected daily revenue: $20 million (approximately $600 million monthly / $7.2 billion annually) in fresh foreign exchange.
• This is significantly boosting FX reserves, supporting naira stability, and contributing to the ₦8.8 trillion revenue milestone.
2. Blue Economy (led by Minister Oyetola)
• A $10 billion sector has been unlocked.
• Cargo clearance time at major ports reduced from 14 days to under 72 hours through digitalisation and public-private partnerships (PPPs).
• Over $30 billion in PPP pledges secured.
• Focus areas include fishing, coastal tourism, marine transport, and transforming Nigeria’s vast waters into a major growth corridor.
3. Trade, Investment & Reserves (led by Minister Jumoke Oduwole and Taiwo Oyedele)
• External reserves now exceed $45 billion.
• Nigerian Stock Exchange trading at all-time highs.
• Debt-to-revenue servicing ratio improved from 96% to 60–70%.
Local Government Autonomy
Chief Dare described the direct funding of Nigeria’s 774 local government councils as the “final structural piece” and “last mile delivery” of the Renewed Hope Agenda. He declared an end to the era of local councils begging state governors for funds. Local government chairmen are now expected to function as CEOs, leveraging PPPs to deliver tangible infrastructure such as primary health centres, solar-powered boreholes, and skills academies.
2030 Vision
• Fully operational refineries ending fuel imports.
• Nationwide fibre optic and 5G rollout.
• Stronger naira supported by minerals, blue economy, and robust reserves.
• Expanded conditional cash transfers reaching 15 million households.
• Shift from macroeconomic gains to visible grassroots prosperity.
Overall Message
Dare framed these reforms as irreversible structural changes that have moved Nigeria from revenue scarcity to abundance. With local government autonomy now in place, the focus is on ensuring this wealth reaches ordinary citizens through prudent spending and accountability at the local level.
God bless President Tinubu.
