Adebayo Unveils Five-Point Agenda And Targets 75k MW Power Generation

Presidential Candidate of the Social Democratic Party (SDP), Adewole Adebayo has faulted the currency redesign policy of the Central Bank of Nigeria (CBN). Gatekeepers News reports that the CBN had October announced the redesign of N200, N500, and N1000. The apex bank had said advised customers to deposit their old notes before January 31, 2023, when they would cease to be legal tender. However, on Sunday, the CBN Governor, Godwin Emefiele said President Muhammadu Buhari has approved the extension of the phase-out to February 10 following several complaints that many Nigerians could not access the new naira notes. Speaking during an interview on Sunday, the SDP presidential candidate said there were no policy or project management parameters behind the currency redesign initiative. He said the process of currency swap should not be “chaotic”, noting that the currency is central to the economy. “There is no policy behind it. There was no planning, definition of stakeholders, or project management parameters. No timeline and simulation done,” he told Channels Television. “The process is not supposed to be chaotic. The economy is a sensitive thing. Currency is so central to the economy because it is the means of exchange.” Adebayo criticised the CBN governor for seeking the approval of the president for a one-week extension, adding that the apex bank should not be “subject to political interpretation”. The SDP presidential candidate said Emefiele should have consulted with the board of the apex bank on the currency redesign rather than the President, who he said is a “political leader”. “The CBN is not supposed to be allowing itself to be subject to political interpretation,” he said. “Even this idea of going to the president to take permission for a one-week extension, none of that is …there is a board of governors for the CBN that is supposed to deal with the internal business of the CBN. “With all due respect, for every ailment of this election, there is INEC, DSS, and police. You don’t want to give the CBN a role to play in the management of the election. “To say, I have gone to take instruction and permission from the President to add more 10 days, that is not how to run the CBN with all due respect. “The idea is not something that the changing of currency is emanating from a political person, which is the president. “The idea is that the CBN belongs to all of us whether there is a change of government, party, or person. “It looks like the governor of the CBN should rather be working in the Presidency as a Special Adviser or something. “I don’t want the CBN to look like an extension of the politics of Nigeria.” Presidential Candidate of the Social Democratic Party (SDP), Adewole Adebayo has faulted the currency redesign policy of the Central Bank of Nigeria (CBN). Gatekeepers News reports that the CBN had October announced the redesign of N200, N500, and N1000. The apex bank had said advised customers to deposit their old notes before January 31, 2023, when they would cease to be legal tender. However, on Sunday, the CBN Governor, Godwin Emefiele said President Muhammadu Buhari has approved the extension of the phase-out to February 10 following several complaints that many Nigerians could not access the new naira notes. Speaking during an interview on Sunday, the SDP presidential candidate said there were no policy or project management parameters behind the currency redesign initiative. He said the process of currency swap should not be “chaotic”, noting that the currency is central to the economy. “There is no policy behind it. There was no planning, definition of stakeholders, or project management parameters. No timeline and simulation done,” he told Channels Television. “The process is not supposed to be chaotic. The economy is a sensitive thing. Currency is so central to the economy because it is the means of exchange.” Adebayo criticised the CBN governor for seeking the approval of the president for a one-week extension, adding that the apex bank should not be “subject to political interpretation”. The SDP presidential candidate said Emefiele should have consulted with the board of the apex bank on the currency redesign rather than the President, who he said is a “political leader”. “The CBN is not supposed to be allowing itself to be subject to political interpretation,” he said. “Even this idea of going to the president to take permission for a one-week extension, none of that is …there is a board of governors for the CBN that is supposed to deal with the internal business of the CBN. “With all due respect, for every ailment of this election, there is INEC, DSS, and police. You don’t want to give the CBN a role to play in the management of the election. “To say, I have gone to take instruction and permission from the President to add more 10 days, that is not how to run the CBN with all due respect. “The idea is not something that the changing of currency is emanating from a political person, which is the president. “The idea is that the CBN belongs to all of us whether there is a change of government, party, or person. “It looks like the governor of the CBN should rather be working in the Presidency as a Special Adviser or something. “I don’t want the CBN to look like an extension of the politics of Nigeria.”
The presidential candidate of the Social Democratic Party (SDP), Prince Adewole Adebayo, has unveiled a five-point agenda for transforming Nigeria, promising to tackle insecurity, unemployment, low productivity, inadequate electricity supply and weak institutions if elected president in 2027.

Gatekeepers Newreports that Adebayo presented the agenda during an interactive session with journalists and members of the Middle-Belt Forum, where he also criticised the administration of President Bola Tinubu.

He argued that economic growth figures would have little meaning if they did not translate into jobs, increased productivity, improved living standards and better opportunities for businesses.

According to Adebayo, Nigeria’s major challenges are rooted in weak institutions, poor accountability, low productive capacity and what he described as government-enabled criminality.

“What is sustaining criminality and violence in Nigeria is that it is either government sponsored or government enabled,” Adebayo said.

He pledged to dismantle structures that facilitate criminal activities and vowed that his administration would not tolerate the involvement of public officials in activities capable of undermining national security.

Security, Economy

Adebayo promised a comprehensive restructuring of Nigeria’s security architecture, with greater emphasis on intelligence gathering, community responsiveness and crime prevention.

He argued that the country could not defeat insecurity by merely responding to attacks after they occurred, stressing the need to identify and disrupt the networks and conditions that sustain violence.

On the economy, the SDP candidate rejected headline growth figures as the main measure of national progress.

He said the real indicators should include the productive capacity and welfare of citizens, businesses and government enterprises.

Adebayo proposed a full-employment strategy, greater transparency in revenue collection, stronger financial accountability and a clear separation between public officials and government contracting.

He also advocated decentralising economic production by giving states and local governments greater roles in sectors such as agriculture and mining.

The SDP candidate proposed what he described as a “promotional tax regime” designed to protect living wages, stimulate investment and encourage businesses to expand production rather than simply increase government revenue.

Mining as Economic Opportunity

Adebayo identified Nigeria’s vast mineral resources, particularly those located across the Middle Belt, as a major economic opportunity that remains largely untapped.

He said properly regulated mining could generate employment, increase government revenue and diversify the economy away from excessive dependence on petroleum.

He called for an end to what he described as the “criminalisation of mining”, insisting that the sector should be formally regulated and developed rather than left vulnerable to illegal operators and criminal networks.

Adebayo Targets 75,000MW Power Generation

On electricity, Adebayo said Nigeria must abandon outdated power-generation targets and begin planning for an economy capable of supporting large-scale industrialisation.

He proposed that the country target between 50,000MW and 75,000MW of electricity generation capacity by 2050 through a combination of gas-fired power plants, solar energy and rehabilitation of existing hydroelectric infrastructure.

“At least Nigeria now, any presidential candidate who is not giving you a plan for 50,000 megawatts is behind time,” he said.

Adebayo also criticised the existing electricity market, alleging that political interests had interfered with tariff collection and other critical aspects of the sector.

He called for the restructuring of electricity distribution companies and the energy procurement system to improve efficiency and ensure more reliable electricity supply to households and businesses.

Foreign Policy, Diaspora

Adebayo said security would remain central to his administration, promising to restructure the armed forces and broader security architecture to make them more responsive to communities while strengthening intelligence capabilities.

He maintained that tackling insecurity would require more than military intervention, stressing the importance of stronger institutions, economic opportunities and a government capable of identifying and dismantling criminal networks before they strike.

On foreign policy, he proposed stronger international partnerships to improve Nigeria’s national security, education, technology and access to global markets.

He also promised to give greater attention to Nigerians living abroad and deliberately integrate the diaspora into the country’s development strategy.

The engagement formed part of the SDP’s consultations with political and community stakeholders ahead of the 2027 general elections.

The party’s National Chairman, Prof. Sadiq Umar Abubakar Gombe, said the SDP was positioning itself to participate in a credible electoral process while contributing to Nigeria’s democratic development.

Gombe urged the Middle-Belt Forum to play a strategic role in shaping the country’s political future, describing the group as an important stakeholder.

“My request for them from the Middle Belt is that as one of the key stakeholders in our country, we came to unveil our manifesto and the manifesto of the candidate to them, so as we move on together toward the rescue mission of our dear country,” he said.

The SDP chairman said the party was encouraged by the reception it received from members of the Middle Belt and their understanding of Adebayo’s policy proposals.

He expressed confidence that the engagement would strengthen collaboration between the SDP and stakeholders in the region ahead of the 2027 presidential election.