News
President Tinubu Reveals why he Included Fuel Subsidy Removal in his Inauguration speech
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
Lagos cracks down on street begging, arrests 15 beggars
The Lagos State Government on Friday arrested 15 street beggars during an enforcement exercise carried out in the Ikosi Ketu and Mile 12 areas.
Commissioner for Environment and Water Resources, Tokunbo Wahab, who confirmed the development via his X handle, said the operation was part of ongoing efforts to maintain public order and prevent the misuse of public spaces.
“Fifteen street beggars were apprehended this morning during our enforcement operations at Ikosi Ketu and Mile 12,” Wahab said. “This is part of our ongoing effort to maintain order, ensure safety, and protect public spaces from misuse.”
He added that the ministry would sustain its enforcement activities while working with relevant social welfare agencies to offer rehabilitation support where necessary.
“Lagos must remain safe, clean, and orderly for all who live and work here. Our resolve remains firm,” he stated.
Friday’s arrests follow a similar operation on Thursday, during which eight suspected phone snatchers were picked up on the Mile 2 pedestrian bridge by operatives of the Lagos State Environmental Sanitation Corps. The suspects were later sentenced to six months’ imprisonment.
The government says it will continue to intensify enforcement actions aimed at safeguarding public spaces and curbing street begging across the state.
News
Lagos unveils plan to minimise Lekki-Ajah road disruption
The Lagos State Government has assured residents and commuters that the planned rehabilitation of the Lekki–Ajah corridor will not result in heavy traffic disruption or prolonged gridlock.
In a statement issued on Friday, the government acknowledged growing public concerns, especially with the festive season approaching, but emphasised that the project has been strategically designed to maintain steady vehicular movement throughout the construction period.
According to the statement, the rehabilitation will be executed in “carefully planned phases,” with only selected portions of the road undergoing repairs at any given time. These sections, it said, have been deliberately chosen to ensure minimal impact on the main carriageway.
As part of its traffic management strategy, the state government is activating alternative routes and improving existing bypasses.
“Alternative routes are being opened and strengthened, including the Coastal Road and adjoining service lanes, to provide smoother diversions where necessary,” the statement said.
To further ease congestion, major construction activities will be done at night, when traffic volume is lowest. The government confirmed that a night-shift schedule has been adopted for critical repair components.
On traffic control measures, the Lagos State Traffic Management Authority (LASTMA) will deploy officers in large numbers along the stretch to ensure free flow of movement and promptly address any bottlenecks that may arise.
The government reiterated that the rehabilitation project is aimed at delivering long-term improvements, not additional discomfort.
“The rehabilitation project intends to improve the Lekki–Ajah corridor, not to add discomfort to residents,” it said, urging the public to remain patient as the upgrades progress.
Reaffirming its commitment to infrastructural development, the statement added that the government will continue to engage with stakeholders and provide updates as work advances.
News
FG vows to end frequent power grid collapses
The Minister of Power, Adebayo Adelabu, says the Federal Government is intensifying efforts to halt frequent national grid collapses and improve the reliability of electricity supply across the country.
Adelabu, represented by the Permanent Secretary of the Ministry, Alh. Muhammadu Mamman, spoke in Uyo, Akwa Ibom State, on Friday during the maiden retreat of the Nigerian Independent System Operator (NISO) themed “NISO on the Move.”
He said President Bola Tinubu’s administration began implementing reforms from inception to ensure grid stability and reduce persistent power outages.
According to him, the establishment of NISO is one of the new approaches adopted by the government to address long-standing structural challenges in the power sector. Nigeria has suffered repeated grid collapses due to ageing infrastructure, poor maintenance, inadequate funding, and vandalism, leading to widespread blackouts and increased reliance on generators by households and businesses.
“Since the commencement of this administration, things have been done differently,” Adelabu said. “The creation of NISO is part of government’s efforts to stabilise the grid, reduce outages, and ensure every Nigerian has access to electricity. This retreat provides an avenue for engagement and improved coordination.”
Chairman of NISO’s Board of Directors, Dr. Adesegun Akin-Olugbade, praised the agency’s staff, noting that their dedication enabled the successful synchronisation of the Nigerian power grid with the West African Power Pool (WAPP).
He described the achievement—four hours of uninterrupted unified frequency across Nigeria, Niger, parts of Benin, Togo, and extending to Mauritania—as a milestone once considered impossible.
Managing Director of NISO, Abdul Mohammed, explained that the agency was created to support government reforms by attracting private investment and enhancing efficiency in the power market. He lamented that despite huge investments, the sector still suffers because power infrastructure requires far more funding than has been committed over the years.
“The power business is extremely capital-intensive,” Mohammed said. “We haven’t spent as much as needed to make the grid fully reliable. NISO is here to complement government efforts by drawing private-sector investment and optimising existing resources.”
Akwa Ibom State Governor, Umo Eno, represented by Commissioner for Power, Iniobong Robson, commended NISO for its discipline and clarity of purpose, noting that the agency had recorded impressive progress since its establishment.
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