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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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Osun sues UBA, officials to court over illegal LG accounts

They were specifically accused of allowing the opening, operation and maintenance of accounts for each of the local government councils “by unknown private individuals as signatories…

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• Map of Osun State

The Osun State Government has instituted a criminal case against United Bank for Africa Plc (UBA) and four of its top officials over alleged illegal opening of local government accounts.

Tribune newspaper reported that the Chief Magistrate Court, sitting in Osogbo, Osun State, has fixed January 30 for the hearing of the case, marked Charge No: MOS/601c/2025.

The defendants in the suit are: the UBA Plc, its Group Managing Director, Mr Oliver Alawuba, the Company Secretary and Group Legal Adviser, Mr Billy Odum and the Deputy Managing Director, Mr Chukwuma Nweke.

In the charge sheet, the government filed the 31-count charge against the bank and its officials, with each count relating to alleged infractions involving opening of bank accounts for the state’s 30 local government councils.

In count one, the prosecution alleged that the defendants, on or about December 9, 2025, and on subsequent days, at UBA’S Osun State branch office located in the Olonkoro area of Osogbo, conspired to commit a felony by opening, operating and maintaining what it described as illegal Osun State Local Government Council accounts.

The alleged offence, the charge stated, occurred within the Osogbo Magisterial District and is said to be contrary to and punishable under Section 516 of the Criminal Code, Cap 34, Volume 2, Laws of Osun State of Nigeria, 2002.

They were specifically accused of allowing the opening, operation and maintenance of accounts for each of the local government councils “by unknown private individuals as signatories” after the Local Government Service Commission had introduced to the defendants, Directors of Administration and General Services and Directors of Finance of all the local governments as signatories to the councils’ statutory accounts “and thereby committed an offence contrary to Sections 2 and 3 (1) and (2), and punishable under Section 5(1) and (2) of Osun State Local Government Accounts Administration Law, 2025.”

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Umahi: We’re not tolling Third Mainland Bridge

Umahi affirmed this during inauguration of the N40 billion Closed Circuit Television Camera Centre on the Third Mainland Bridge, the previous day.

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• Third Mainland Bridge

The Minister of Works Senator Dave Umahi has confirmed that the Federal Government has no plan to toll the rehabilitated Third Mainland Bridge in Lagos.

Umahi affirmed this during inauguration of the N40 billion Closed Circuit Television Camera Centre on the Third Mainland Bridge, the previous day.

He said : “We will not engage construction on this bridge because it will entail static load on the bridge.

“It is also within the town, so it will introduce many bottlenecks; that is why we are not tolling this bridge,” he said.

Umahi said that security would be handled by the police, noting that the 11-kilometre bridge would have a five-minute response time.

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Dr. Esege Nwandu Challenges Euracare Hospital’s Statement over Nephew’s Death

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The controversy surrounding the tragic death of 21-month-old Nkanu Nnamdi Esege, son of acclaimed Nigerian author Chimamanda Ngozi Adichie and her husband Dr. Ivara Esege, has intensified with a pointed rebuttal from the child’s aunt, Dr. Anthea Esege Nwandu.

Dr. Nwandu, a dual board-certified Internal Medicine physician with over 30 years of clinical experience in Nigeria and the United States—including board certifications from the American Board of Internal Medicine and the American Board of Lifestyle Medicine, fellowship in the American College of Physicians, and a Master of Public Health from Johns Hopkins Bloomberg School of Public Health—has publicly challenged the January 10, 2026, statement issued by Euracare Multispecialist Hospital in Lagos, where the toddler died on January 7 following a brief illness.

The child had been receiving treatment at Atlantis Hospital for what began as a suspected cold but developed into a serious infection. He was described as medically stable and scheduled for evacuation to Johns Hopkins Hospital in Baltimore for further care when referred to Euracare for an MRI scan and central line insertion on January 6.

In her detailed rebuttal, Dr. Nwandu directly addressed what she described as significant falsehoods in Euracare’s statement, which expressed condolences while asserting that circulated reports contained inaccuracies, that the child arrived critically ill after treatment at two pediatric centers, and that care adhered to international standards.

Dr. Nwandu countered key claims as follows:

  • Euracare’s assertion that the child had received care at two pediatric centers was false; he had been at only one hospital (Atlantis) prior to Euracare.
  • On adherence to international standards: She alleged multiple breaches, including failure to provide continuous oxygen therapy during sedation (a requirement for children on oxygen), lack of continuous monitoring of blood oxygen levels, pulse, and respiration, and no resuscitative equipment (such as an Ambu bag) during transfers within the hospital.
  • She questioned the accuracy of any documentation regarding the timing or duration of respiratory or cardiac arrest due to absent monitoring.
  • Specific practices were criticized as non-standard, including an anesthesiologist carrying the post-sedation child on his shoulder without visual oversight or monitoring, insisting on being alone in the elevator with the child, and disconnecting oxygen during transfer to the ICU.

Dr. Nwandu emphasized that these alleged lapses occurred despite the child’s stability and planned international transfer, describing them as deviations from protocols that could have contributed to the fatal outcome.

Euracare’s January 10 statement expressed “deepest sympathies” for the “profound and unimaginable loss,” denied negligence, noted an ongoing internal investigation, and highlighted collaborative care with external teams. The hospital has described the child as critically ill upon arrival and maintained that all actions followed established protocols.

The case has drawn widespread attention, with Lagos State authorities launching an independent investigation into the circumstances, amid broader scrutiny of medical standards in Nigeria. The Nigerian Society of Anaesthetists is also monitoring developments.

The family, including Adichie, has expressed devastation and called for accountability to prevent future tragedies. Nkanu was one of twin boys born to the couple via surrogacy in 2024. Public figures, including Nigerian President Bola Tinubu, have offered condolences as the matter continues to unfold.

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