Connect with us
Maduka University Advert

News

I have no regret removing petrol subsidy —Tinubu

Published

on

Spread the love

President Bola Tinubu says he has no regrets about removing petrol subsidy in May 2023, insisting that Nigeria cannot continue to be Father Christmas to neighbouring countries.

The former Lagos governor who stated this during the first presidential media chat televised Monday night, said removing petrol subsidy was in a bid to save generations to come, noting that the country was already spending its future while giving freebies to neighbouring countries.

Tinubu said petrol subsidy removal some 18 months ago have increased competition within the sector and that the pump price of petrol has gradually crashed.

“The market is being saturated. No monopoly, no oligopoly, a free market economy flowing,” he said.

Questioned about the economic hardship following the subsidy removal, the President said he had no regret as the reform had become necessary.

He also knocked calls for the phased removal of subsidies, saying the nation was headed for financial disaster.

Maduka College Advert

With the subsidy removal, he said what was imperative was for Nigerians to manage within available resources and shun unnecessary expenses.

“What contingency? We were spending our future. We were spending our generations’ fortunes; we were not investing. We were just deceiving ourselves. That reform is necessary. I could see the smugglers fighting back; that doesn’t affect me. It affects smuggling. Why should you have expenditures that you don’t have revenue for? I don’t want to question people who have acquired limousine kind of vehicles on the road. We should teach management in all our programmes. We have to manage our resources within our means,” Tinubu stated.

“There is no way that you give out fuel and allow all the neighbouring countries as Father Christmas. I don’t have any regret whatsoever in removing the subsidy. It is necessary. We cannot spend our future generations’ investments upfront.

“Phased removal is part of unnecessary fear. No matter how you cut it, you still have to meet the bills. So cut your coat strictly to your size. Management is the issue and we have no choice but to pull the hand brakes, otherwise, we are headed for slippery slopes and in such financial disaster, not just for us, but for our children and grandchildren. Where is the pathway for prosperity?”

The All Progressives Congress (APC) chieftain also said he does not believe in price control and he won’t go that path.

“I don’t believe in price control, we will work hard to supply the market,” he said.

Nigeria, Africa’s most populous nation, faces energy challenges, with all its state-owned refineries non-operational.

The country is heavily reliant on imported refined petroleum products, with the state-run NNPC being the major importer of the essential commodities.

Fuel queues are commonplace in the country. Prices of petrol soared since the removal of subsidy in May 2023, from around N200/litre to over N1,000/litre, compounding the woes of the citizens who power their vehicles, and generating sets with petrol, no thanks to decades-long epileptic electricity supply.

The government simultaneously unified forex windows, with the value of the naira nosediving terribly from $1/N700 to over $1/1600 at the parallel market.

Prices of food and basic commodities immediately climbed through the roof as Nigerians battled attendant inflation.

The president, however, said he has no deliberate intention to subject Nigerians to pain, assuring that the benefits of the ongoing economic reforms would soon be felt by all.

News

Tinubu names Bianca Odumegwu-Ojukwu as Minister of Foreign Affairs

Published

on

Bianca Odumegwu-Ojukwu, Minister of Foreign Affairs
Spread the love

…Nominates Amb. Sola Enikanolaiye as Minister of State

President Bola Tinubu has appointed Ambassador Bianca Odumegwu-Ojukwu as Nigeria’s new Minister of Foreign Affairs after the resignation of Ambassador Yusuf Tuggar, who is reportedly preparing for a political move ahead of the 2027 general elections.

The President also forwarded the name of Ambassador Sola Enikanolaiye for appointment as Minister of State for Foreign Affairs, pending approval by the Senate.

The appointments were disclosed in a statement released on Wednesday by presidential spokesman Bayo Onanuga.

According to the statement, the reshuffle is aimed at improving Nigeria’s diplomatic strategy and ensuring that the country’s foreign policy supports the administration’s economic agenda more effectively.

“These adjustments are part of ongoing efforts to reposition Nigeria’s foreign policy architecture for greater efficiency, strategic engagement, and stronger global partnerships,” the statement read.

Odumegwu-Ojukwu, who previously served as Minister of State for Foreign Affairs and has years of diplomatic experience, is expected to oversee Nigeria’s international relations as the government intensifies focus on economic diplomacy, regional peace, and wider global partnerships.

Maduka College Advert

The presidency highlighted her long-standing involvement in global affairs, stating:

“Ambassador Odumegwu-Ojukwu brings decades of diplomatic experience and a deep understanding of Nigeria’s engagement with the global community,” the statement read.

Enikanolaiye, a seasoned career diplomat, had earlier worked as Senior Special Assistant to the President on Foreign Affairs and International Relations.

He has represented Nigeria in several cities around the world, including Addis Ababa, London, Ottawa, Belgrade, and New Delhi.

The statement noted that his nomination is expected to strengthen institutional continuity within the foreign service.

“Ambassador Enikanolaiye’s extensive experience across multiple diplomatic missions will support Nigeria’s evolving foreign policy objectives,” the statement added.

President Tinubu congratulated the two diplomats and urged them to place national interest at the forefront while promoting economic diplomacy and improving the welfare of Nigerians living abroad.

Continue Reading

News

Awka blacksmiths lament neglect by Govt, indigenes

Published

on

Spread the love

Continue Reading

News

Supreme Court fixes Thursday for judgement on ADC leadership dispute

Published

on

FJSC nominates 22 Justices for Supreme Court Bench
Spread the love
The Supreme Court has fixed Thursday, April 30, for judgment in the leadership dispute rocking the opposition African Democratic Congress (ADC).The apex court had reserved judgement in the case, prompting the opposition party to petition the Chief Justice of Nigeria (CJN) that time was not on its side.

However, on Wednesday, the apex court announced that the judgement would be delivered by 2pm, on Thursday.

A five-member panel of the apex court, led by Justice Mohammed Garba, had fixed the matter for judgment after parties adopted their final written addresses.

Mark, who leads a faction of the party, is challenging the March 12 judgment of the Court of Appeal, which ordered parties to maintain the status quo in the dispute.

In his appeal, the former Senate President argued that the appellate court exceeded its jurisdiction and insisted that the crisis bordered on internal party affairs, which courts lack powers to adjudicate.

The suit was initiated by aggrieved party members led by Nafiu Bala Gombe, who is contesting the legitimacy of the Mark-led leadership of the party.

Maduka College Advert

Other respondents in the appeal include the ADC, its National Secretary, Rauf Aregbesola, the Independent National Electoral Commission, and a former national chairman, Ralph Nwosu.

Mark is also seeking an order restraining INEC from recognising any leadership other than his faction, pending the determination of the appeal.

However, the respondents urged the apex court to dismiss the appeal, maintaining that the lower court was properly seized of the matter.

In a letter dated April 28, 2026 and signed by Shaibu Enejoh Aruwa, ADC counsel, the Mark-led faction said if the judgment of the apex court is not delivered within the next three days, the ADC “stands the grave and irreversible risk of being excluded from participating in the 2027 General Election”.

The Mark-led faction said the development would deny the constitutional right of millions of Nigerians to contest the elections under the platform of the party.

“My Lord, this appeal was graciously heard expeditiously on the 22nd April, 2026 and judgment was thereafter reserved to a date to be communicated by the court,” the letter reads.

“However, My Lord, we are most respectfully constrained to request for my Lord’s kind intervention and directive in ensuring that the judgment is rendered timeously having regard that INEC the 4th Respondent in the said Appeal purportedly, acting pursuant to the judgment of the lower court in

“Appeal No: CA/ABJ/145/2026 acted to remove or de-recognize the leadership of the African Democratic Congress (ADC) leaving the ADC without leadership at the moment even though the ADC remains a recognized registered political party in Nigeria.

“My Lord, we also respectfully draw Your Lordship’s attention to the INEC Timetable for the 2027 General Elections and the activities in readiness which have already commenced.

“Your Lordship’s would find attached copies of the INEC Press Release de-recognizing the leadership of ADC and the Revised INEC Timetable for the 2027 General Elections.

“My Lord, the ADC’s ability to comply with these statutory requirements to participate in the 2027 General Elections is wholly dependent on the timely delivery of the judgment in the instant Appeal.

“Without the delivery of judgment within the next three days from the date of this letter, the ADC stands the grave and irreversible risk of being excluded from participating in the 2027 General Elections.

“This would disenfranchise millions of Nigerians who have subscribed to the ideals of the ADC and deny them their constitutional right to freely associate and contest elections through a political party of their choice.

“My Lord, we are mindful of the enormous responsibilities and workload of this Honourable Court. We are equally aware that justice delayed, in this peculiar circumstance, would amount to justice denied. The entire political future of our client and the legitimate expectations of its members nationwide now hangs in the balance.”

Continue Reading

Trending

Maduka College Advert