
News
Subsidy: FG borrowing to import fuel, says Finance Minister
The Federal Government has said it sometimes borrows funds to buy petrol as the country continues to incur rising fuel subsidy bills.
The government also confirmed that there was a possibility of global economic recession this year, but stressed that Nigeria’s foreign exchange reserves were healthy enough to withstand the shocks.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this on Tuesday on the sidelines of the World Economic Forum in Davos, while speaking during an interview with Arise TV.
In the interview, monitored by our correspondent in Abuja, the minister also stated that the Federal Government at some point had to borrow funds to buy Premium Motor Spirit, popularly called petrol, despite the huge subsidy spending on the commodity.
Ahmed again insisted on ending the fuel subsidy regime, while adding that would be done gradually from the second quarter of this year by the current government.

She said the government would be able to increase the revenue performance on the 2022 figure, as well as reduce the debt service to revenue ratio.
“We also have to exit fuel subsidy, because that is also a very significant contributory factor. You can look at it in two ways – it is revenue that would have come to the government but it doesn’t because it has been spent on fuel subsidy,” she said.
The minister added, “But also, where there is nothing for the government to buy the refined petroleum products, we have to borrow to buy the petroleum products. So if you take that out, that’s about N3.25tn, that is a significant relief.”
Explaining why the fuel subsidy was not removed in June 2022 despite the plan of the government to halt it at the time, Ahmed said it was a decision that was taken by the government due to the lingering impact of the COVID-19 pandemic and heightened inflation.
“Removal of fuel subsidy at that time would have increased the burden on the citizens, and the President does not want to contemplate a situation where measures are taken that further burdens the citizenry,” she stated.
Ahmed added, “So the decision was to extend the period from June 2022 to 18 months, beginning from January 2022. So in June 2023, we should be able to exit. The good thing is that we hear a consistent message that everybody is saying this thing needs to go and that it is not serving the majority of Nigerians.
“I listened to some of the new leaders campaigning for the next round of leadership in the country and they are saying they will get rid of it very quickly.”
Asked whether it would be possible to halt the fuel subsidy regime in June this year, Ahmed replied, “What will be safer is for the current administration, maybe at the beginning of the second quarter, to start removing the fuel subsidy.”
This, she said, was because the gradual removal of subsidy would not be so harsh, as when removed at once.
“The idea for us in the budget is that the cost of subsidy should not exceed that N3.23tn. So whether it is done completely by June or July or whatever is the process, the cost is capped,” Ahmed stated.
News
Troops foil mass abduction attempt, rescue nine civilians
Troops of Joint Task Force North West Operation FANSAN YAMMA (JTF NW OPFY) foiled an attempted mass abduction by terrorists in Unguwar Rogo Village, Kaura Namoda Local Government Area of Zamfara State, rescuing nine civilians, including an infant.
The incident occurred on 16 August 2026, when troops received a distress call that terrorists, believed to be led by suspected kingpin Mallam Shuaibu, had infiltrated the community and attacked civilians travelling along a local route.
Preliminary intelligence indicates that the attack may have been carried out in reprisal for the recent arrest of suspected collaborators linked to the terrorist network. The suspects had earlier been intercepted by troops while attempting to procure motorcycles and Premium Motor Spirit (PMS) in support of the terrorists’ activities.
In an apparent attempt to retaliate and abduct civilians, the terrorists concealed themselves within a millet farm along the route and opened fire on passing vehicles, causing some drivers to lose control and veer off the road.
Responding swiftly to the distress call, troops of Sector 2 moved to the area and decisively engaged the terrorists, denying them the opportunity to carry out the abduction. Faced with the troops’ superior response, the terrorists abandoned their mission and fled into the surrounding forest.

Following the engagement, troops rescued nine civilians, including an infant. Two women who sustained gunshot wounds during the terrorists’ attack were promptly evacuated for medical attention and are currently receiving treatment.
Operation FANSAN YAMMA remains resolute in its determination to deny terrorists and other criminal elements the freedom to attack innocent citizens. The Joint Task Force will continue to sustain pressure on terrorist networks while taking all necessary measures to protect lives and restore lasting peace and security across the North West region.
News
Edo Assembly Speaker Blessing Agbebaku resigns
The Speaker of the Edo State House of Assembly, Blessing Agbebaku, has reportedly stepped down from his position.
His resignation came as reports emerged that some lawmakers were working on plans to impeach him from the speakership.
Agbebaku became Speaker of the 8th Edo State House of Assembly in June 2023 after lawmakers elected him to lead the chamber.
The former Speaker was originally
elected on the platform of the Peoples Democratic Party (PDP).
However, he later moved to the All Progressives Congress (APC) in 2025, joining other political figures who changed parties as political alignments in Edo continued to change.

His reported resignation comes as political activities begin to build ahead of the 2027 general elections.
The development is likely to lead to new discussions among lawmakers and political leaders over who will take over the leadership of the Assembly.
The resignation could also affect the balance of power within the House, especially as lawmakers consider the next person to lead the chamber.
Members of the Assembly are expected to meet and take the necessary steps toward filling the vacant Speaker position.
The reason behind Agbebaku’s decision to leave office has not been made public.
It is also not yet clear whether his resignation is connected to recent political developments within the state or other issues involving the Assembly.
More information is expected to emerge as lawmakers react to the development and begin discussions on the next leadership of the Edo State House of Assembly.
News
Sheikh Jingir: Christianity not subordinate to any religion in Nigeria — Pastor Enenche
• Says security agencies must act against provocative religious remarks
Senior Pastor of Dunamis International Gospel Centre, Pastor Paul Enenche, has declared that Christianity is not subordinate to any religion in Nigeria, while condemning comments linked to Islamic cleric Sheikh Yahya Jingir.
Speaking during the church’s Sunday service at its headquarters in Abuja, Enenche reacted strongly to the controversy generated by Jingir’s recent remarks, insisting that Christians could not be regarded as inferior to adherents of any other faith in the country.
The cleric described the suggestion that Christianity was secondary to another religion as unacceptable, arguing that Christians are present in large numbers across every part of Nigeria.
Enenche also warned against taking the Christian community for granted, maintaining that the church remains a significant force in the nation.
He criticised security agencies for failing to invite Islamic cleric, Sheikh Muhammad Jingir, over his recent comments advocating a Muslim-Muslim political arrangement in Nigeria.

According to Enenche, security agencies should have acted against statements capable of provoking religious tension and violence in the country.
The pastor described as unacceptable the suggestion that Christianity should be regarded as subordinate to any other religion in Nigeria, insisting that Christians constitute a significant part of the country’s population.
He said, “Christianity is not secondary, and no group of religious fanatics will ever make it secondary. Not you, not any political group of people will ever make Christianity secondary to any.”
Enenche also questioned why security agencies had not invited the cleric for questioning over his comments, arguing that allowing individuals to make what he described as reckless statements without consequence could threaten national peace.
He said, “I blame security forces for allowing people to make reckless statements. You allow them still moving on the road, allow them still moving, not knowing that such a statement can incite instant violence.”
The pastor added that authorities should have taken steps to establish whether the comments could incite violence, rather than allowing the speaker to continue making such statements publicly.
“People are messing up and destroying the nation; they are walking free of charge, and they are talking,” he said.
Enenche further warned against taking the Christian community for granted, saying Christians had remained calm despite what he described as provocative statements.
“Nobody should take the church in this nation for granted. Don’t take the church for granted,” he said.
His comments followed controversy generated by the Chairman of the Ulama Council of Jama’atu Izalatil Bid’ah Wa’ikamatis Sunnah, Sheikh Muhammad Jingir, who recently advocated the continued adoption of a Muslim-Muslim presidential ticket.
Jingir had, at a special wedding reception organised by the Kano State Government for 1,500 couples whose weddings it sponsored, urged Muslims to vote in a manner that would demonstrate their numerical strength.
Amid reactions to his comments, Jingir told the BBC that he had no regret over his advocacy for a Muslim-Muslim presidential ticket, stressing that he had held the position long before the administration of President Bola Tinubu.
The comments have attracted reactions from various quarters, including the National Coordinator of the Obidient Movement Worldwide, Yunusa Tanko, and Nigeria’s Ambassador-designate to South Africa, Femi Fani-Kayode.
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