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

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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

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Jarigbe dumps PDP for APC, cites deep division in party

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Another senator elected on the platform of the Peoples Democratic Party (PDP), Jarigbe Agom Jarigbe, representing Cross River North, has officially defected to the All Progressives Congress (APC).

Jarigbe’s defection was formally announced on the floor of the Senate on Tuesday through a letter read by the Deputy Senate President, Jibrin Barau.

In his letter, the lawmaker explained that his exit from the PDP followed months of internal crises and irreconcilable divisions that had crippled the party both at the national and state levels.

“I rise to formally notify you and the distinguished leadership of the Senate of my resignation from the Peoples Democratic Party, on whose platform I was elected to represent the good people of Cross River North Senatorial District,” Jarigbe wrote.

“The decision came after deep and thoughtful reflection on the current state of my former party.

“It is with regret that I note the persistent and deep-seated divisions and the deliberate factionalisation at both the national and state levels as the primary reasons for my departure.

”Jarigbe said he decided to align with the ruling party to continue delivering effective representation to his constituents.

“In the light of the foregoing, and in the best interest of my constituents, I have chosen to join the All Progressives Congress,” he added.

“I believe that under the leadership of President Bola Tinubu and the steady guidance of the National Assembly, the APC provides a stable and progressive platform to deliver the democratic dividends expected by the people of Cross River North.”

Following the announcement, Barau welcomed Jarigbe into the party, saying, “You are most welcome. Please welcome him,” as senators across party lines applauded.

Jarigbe’s defection further strengthens the APC’s grip on Cross River State, where all three senatorial seats are now occupied by members of the ruling party.

The other two senators from the state are Eteng Williams (Cross River Central) and Asuquo Ekpenyong (Cross River South).

His defection also increased the number of APC senators to 76, PDP 25, Labour Party 4, APGA 2, SDP 1, and NNPP 1, totalling 109.

His move comes amid renewed turmoil within the PDP, which has been engulfed in a leadership crisis that has split the party into two factions.

The rift pits loyalists of Acting National Chairman Umar Damagum against a group allied with the Minister of the Federal Capital Territory, Nyesom Wike.

The party’s internal conflict deepened after a Federal High Court in Abuja halted its planned national convention, initially scheduled for November 15 and 16 in Ibadan, Oyo State.

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Orji Uzor Kalu backs using U.S military action to “smoke out terrorists”

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Nigerian serving Federal lawmaker, Senator Orji Uzor Kalu has thrown his weight strongly in support of United States military action in Nigeria to wipe out jihadist terrorists in the country.

Speaking to Journalists shortly before Tuesday’s plenary, the Senator who currently represents Abia North backs the President of the United States, Donald Trump when he said “he spoke the truth” about the mindless killings by Jihadists in Nigeria.

“Nigerians are being killed whether they’re Christians or Muslims. Are they not being killed? He asked.

The former Chief Whip said the terrorists are Nigeria’s common mortal enemies whose major objective is to destabilize and destroy the country and should be stopped by all means necessary -including using U.S military action to “smoke them out”.

Kanu told reporters that he has been in talks with two former US Presidents and at least 60 Senators regarding Trump’s military threat and that they’ve all promised to support Nigeria’s combat terrorists in the country.

Kanu further noted that Trump couldn’t have been flippant with his words,.

He pointed out that the American Intelligence community must have identified their specific targets, warning it’s wasn’t the time to show any form of pity towards terrorists.

He recalled how he dealt with armed militia group, Bakassi Boys when he served as Governor.

Commenting on the chances of the ruling All Progressives Congress at the polls in 2027, Kalu waved off the existence of any opposition political party that can wrest power from the party, predicting a walk over victory for President Bola Tinubu.

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Again, Court Halts PDP National Convention

Justice Peter Lifu issued the fresh order Tuesday, restraining the PDP from proceeding with the convention scheduled for November 15 and 16.

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‎‎

For the second time in two weeks ,the People’s Democratic Party has suffered another legal setback as a Federal High Court in Abuja has stopped the party from holding its 2025 National Convention in Ibadan.‎‎

Justice Peter Lifu issued the fresh order Tuesday, restraining the PDP from proceeding with the convention scheduled for November 15 and 16.

The court also barred the Independent National Electoral Commission, INEC, from supervising, monitoring, or recognizing any outcome of that gathering.

‎‎The ruling followed a suit filed by former Jigawa State governor, Sule Lamido.

Lamido, a founding member of the PDP, told the court he was denied the chance to purchase the chairmanship nomination form, effectively excluding him from the race.‎‎

Justice Lifu agreed, ruling that the PDP failed to comply with legal requirements for conventions, including publishing the timetable for members.

He stressed that due process must be strictly observed, warning that democracy itself is endangered when rules are ignored.‎‎

The judge further held that Lamido would suffer greater harm if unlawfully excluded, and noted that Lamido had undertaken to pay damages to the PDP should his suit later be deemed frivolous.‎‎This latest ruling mirrors an earlier decision.

On October 31, Justice James Omotosho of the same court issued similar orders, stopping INEC from recognizing the outcome of the convention if conducted.‎‎

Justice Omotosho ruled that the PDP failed to issue the mandatory 21‑day notice of meetings and congresses, which would have enabled INEC to carry out its statutory duty of monitoring. ‎‎

He warned that the party’s disregard for procedure placed the convention in jeopardy, and advised the PDP to comply with the law before proceeding with any election.

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