Connect with us

News

President Tinubu Reveals why he Included Fuel Subsidy Removal in his Inauguration speech

Published

on

300 Views

Nigerian President, Bola Tinubu has on Friday described fuel subsidy as a “scam” and disincentive to growth, saying it rewarded smugglers and reduced the burden of the “real cost” of the commodity for some countries.

Tinubu made the assertion during a meeting with members of the Nigerian community in France, said a statement by his Special Adviser on Special Duties, Communication and Strategy, Dele Alake, later that day.

Addressing Nigerians in France, Tinubu explained that the Special Adviser on Monetary Policy, Wale Edun and Alake had excluded fuel subsidy removal from his inaugural speech, “but he felt it was expedient to stop the subsidy on the first day”.

President Bola Tinubu meets with Nigerians in Paris, France on Friday, June 23, 2023. Photo: State House
This marked the first time the President would publicly comment on his May 29 inaugural speech, in which he declared that fuel subsidy is gone.

The comment sparked a near-instant hike in prices and hoarding, leading to calls for protests by the Nigeria Labour Congress (NLC). This is despite former President Muhammadu Buhari’s early moves to end the payment of fuel subsidy by June.

President promised to reposition the education and health sectors, adding that ongoing reforms on the economy would be sustained and expanded, with a view to relieving families struggling with the burden of poverty and insecurity.

The remarks come 11 days after the President signed the Students Loan Bill into Law.

See the full statement below:

STATE HOUSE PRESS RELEASE

DIASPORA NIGERIANS POUR ENCOMIUMS ON PRESIDENT TINUBU FOR DECISIVE ACTION ON ECONOMY, PRESIDENT PROMISES TURN AROUND IN EDUCATION, HEALTH, SPORTS, SECURITY,

ENERGY

President Bola Ahmed Tinubu Friday in Paris–France assured Nigerians of repositioning the education and health sectors, while the ongoing reforms on the economy will be sustained and expanded, with a view to relieving families struggling with the burden of poverty and insecurity.

In an interactive session with members of Nigerian community living in France, who lauded President Tinubu for taking bold, decisive and visionary steps in fixing the economy, the Nigerian leader said more creative and innovate policies will be explored and implemented in areas that directly impact livelihood of Nigerians, like electricity sports and energy.

“To all of you, our hope renewed,’’ he said, welcoming plethora of suggestions going forward for the economy, and explaining some of the short-term and long-term framework for providing growth opportunities for individuals, families and institutions.

President Tinubu said the interest of Nigerians will always be protected, even in engagements with the international community, governments and multilateral institutions on global issues relating to climate change, energy transition, food security, trade, security and diplomacy.

“We have transport challenges, electricity challenges, infrastructural challenges and others. I let out the giant elephant of fuel subsidy without bringing down the house,’’ he said, adding, “Our diversity is our asset, if we know how to use it.’’

“We must promote unity and stability for all. Whether you voted for me during the elections, or not, I am your President. I will work on your behalf to ensure a turning point of prosperity,’’ the President told the gathering of professionals, including David Alaba, a footballer.

The President said he was presented with an option of meeting with a handful of Nigerians in France, but he preferred a larger number, pledging to be persistent, determined and focused on reforms for a better country.

President Tinubu explained that the fuel subsidy was a “scam” and disincentive to growth as it rewarded smugglers and reduced the burden of real cost of the commodity for some countries.

He said the Special Adviser on Monetary Policy, Wale Edun and Special Adviser on Special Duties, Communication and Strategy, Dele Alake, had excluded fuel subsidy removal in his inaugural speech, but he felt it was expedient to stop the subsidy on the first day.

“It was the next day I called the GMD of NNPL,’’ he said.

Nigeria’s Ambassador to France, Kayode Laro, thanked the President for accepting the proposal for the meeting with Nigerians on short notice and tight schedule, while the Chairman of the Nigerians in Diaspora Commission, Abike Dabiri-Ereluwa introduced some of the experts in France.

“We have Nigerians who are doing great today among us. We have the diaspora day and diaspora investment summit that provides opportunities for us to celebrate them, and attract new interests,’’ she said.

Prof Emmanuel Iga, Abiodun Odunuga, Anino Elawa, commended the President for the great steps taken in three weeks to reposition the economy.

“You have shown we have a committed and competent leader. You are the first President, who has no godfather. You are your godfather. We are impressed with removal of subsidy and streamlining of foreign exchange. We will wait for the palliatives,’’ Iga said.

Nigerians at the event assured President Tinubu of their full support for his progressive ideas.

Special Adviser to the President
Special Duties, Communication and Strategy
June 23, 2023

News

Suicide: Man, 84 rescued from 140feet well in Lagos

Margaret Adeseye, Controller General of the Fire Service, confirmed that the victim was successfully recovered by the rescue team and subsequently handed over to the family members for further necessary attention.

Published

on

By

2 Views

• Team from Lagos Fire Service rescues the man

The Lagos State Fire and Rescue Service had successfully rescued an 84-year-old man who fell into a well estimated to be about 140 feet in a suicide attempt.

The incident occured today at No. 35A, Fadeyemi Street, Pipeline, Aboru, Agbado Oke-Odo Local Council Development Area (LCDA), Lagos State.

Margaret Adeseye, Controller General of the Fire Service, confirmed that the victim was successfully recovered by the rescue team and subsequently handed over to the family members for further necessary attention.

She emphasised that the Lagos State Fire and Rescue Service reiterates its commitment to prompt emergency response and urges members of the public to seek help and report emergencies through the appropriate channels when in distress

Continue Reading

News

Governor Alia Showcases Administration’s Completed and Ongoing Projects Across Key Sectors

‎Infrastructure projects, healthcare upgrades which have, educational interventions, and agricultural support programmes are visible across the state and open to verification by citizens, civil society groups, and the media alike.

Published

on

By

5 Views

Image credit: Government House Photo


‎Benue State Governor, Hyacinth Iormem Alia, recently took senior media executives in the state on a tour of his administration’s completed and ongoing infrastructure projects across key economic sectors in the State.

Sir Tersoo Kula, chief press secretary to the governor, said that the essence of the exercises was to silenced the opposition party’s negative criticism of the administration.

He said that the independent media assessment was neither choreographed nor designed as an alternative for data-driven governance,
‎rather, the exercise portrays the administration as carving a niche for openness and transparency.

‎Development, indeed, must be demonstrated, and that demonstration as far as Alia’s administration is concerned, is ongoing, physical, and accessible.

The statement reads:

“The exercise provided opportunity for independent media professionals to see, firsthand, projects and interventions undertaken by the administration across key sectors.

‎The observations expressed by the visiting media team were their independent professional impressions, not government-issued verdicts or statistical reports.

‎It is an established yardstick for establishing genuineness that firsthand observation remains a legitimate and long-established journalistic tool, complementing, but not substituting empirical data.

‎The Benue State People’s Democratic Party’s (PDP) public posturing in defiance of facts concerning the unprecedented transformation recorded by Governor Hyacinth Alia is the saddest commentary ever.

‎Contrary to suggestions of vagueness, the administration of Governor Hyacinth Alia has consistently made information on projects, budgets, and sectoral interventions available through official channels, including budget documents, procurement processes, and public briefings.

‎Infrastructure projects, healthcare upgrades which have, educational interventions, and agricultural support programmes are visible across the state and open to verification by citizens, civil society groups, and the media alike.

‎Are Benue people not enjoying the properly lit up streets, especially in the Makurdi metropolis courtesy of “operation lit up Makurdi”?

‎In the Education sector, has Governor Alia not rejuvenated the primary school system with upgraded infrastructure and injection of over 9000 man power? Are we not seeing storey buildings for the first time in our primary schools?

‎Has the Benue State University Teaching Hospital not turned into a medical tourist centre? Are there no upgrades in the hospital including a VIP clinic which is even digitalized? How about the attention given to the primary health care centres with the renovation of over a hundred across the state?

‎In the area of commerce, is it not true that Benue State has built and established a brewery and a fruit juice company amongst others? ‎Sir Tersoo Kula, ‎Chief Press Secretary to the Governor of Benue State.

The second phase was 25 roads and he has also completed all of them. These are verifiable and were witnessed by the visiting media team.

‎It is not a miracle that the people of Idye in Makurdi for the first time were not displaced by flooding in 2025. The massive intervention of ecological management by the Governor made it possible.

The same thing applies to the Wurukum market. Were the traders not happy that their shops survived flooding last year?

‎It is rather very clear now that the immediate past People’s Democratic Party (PDP) led administration that performed abysmally in the state and was outrightly rejected at the polls to a point that they are presently in acute distress, sustained by emergency measures rather than structural strength lacks the faintest knowledge of what development is all about. They see, touch and feel but cannot understand how it is done. This is a very sad reality.

‎Development, indeed, must be demonstrated, and that demonstration as far as Alia’s administration is concerned, is ongoing, physical, and accessible.

‎It is also necessary to put records straight that the presence of national media figures and senior government communicators at such engagements does not invalidate the process.

‎Governor Alia is fully equipped intellectually and administratively. He is not oblivious of the fact that governance thrives on engagement, openness, and dialogue. Development communication is not diminished by interaction; rather, it is strengthened when facts are tested through public exposure.

‎As Alia leads, Benue State government remains firmly committed to accountability, fiscal responsibility, and continuous improvement.

‎Rankings, indices, and performance metrics are tools for reflection, not definitive judgments divorced from context.

‎The administration is focused on correcting inherited structural challenges, strengthening institutions, and ensuring that public resources deliver measurable impact over time. The government welcomes constructive criticisms and a data-driven discourse.

‎However, it rejects the notion that acknowledging visible progress or facilitating independent assessment amounts to propaganda.

The people of Benue State deserve both facts and fair representation, but abhor selective skepticism.

‎Let it be on record that, progress and development in Benue State is not proclaimed by press statements alone; it is reflected in ongoing innovations and projects, improved service delivery, and the daily experiences of the masses.

‎These and many more realities remain open to scrutiny, verification, and public accountability which this administration does not fear, but has embraced and is ever ready to be taken on, at any time.”

Continue Reading

News

FG to launch new women, youth empowerment fund

The platform – ‘The Women and Youth Financial and Economic Inclusion (WYFEI), will be unveiled on Wednesday by the Vice-President Kashim Shettima , at the State House Conference Centre, Abuja.

Published

on

By

15 Views

Vice-President Kashim Shettima

The Federal Government is set to launch a new learning fund and empowerment platform targeted at unlocking the potential of Nigerian children, women and youths.

The platform – ‘Women and Youth Financial and Economic Inclusion (WYFEI), will be unveiled on Wednesday by the Vice-President Kashim Shettima , at the State House Conference Centre, Abuja.

This is contained in a statement issued on Monday by the Senior Special Assistant to the President on Media and Communications (Office of the Vice President), Stanley Nkwocha.

“The initiative, convened by the Office of the Vice President in collaboration with Sterling One Foundation, the United Nations System and other ASIS partners, will form part of the outcomes of the Africa Social Impact Summit (ASIS) 2026 High-Level Policy Engagement,” said the statement.

He emphasised that the WYFEI is the country’s flagship platform for advancing women and youth economic empowerment through compact-based delivery, co-investment frameworks and performance accountability.

“This will make Nigeria the implementation platform of the African Union’s WYFEI programme.

“WYFEI will also be launched in other countries after Nigeria.”

Continue Reading

Trending