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
National Police Council Ratifies Disu’s Appointment
Disu is now expected to proceed to the senate for confirmation as the last hurdle before attaining a substantive position as the IGP.
The National Police Council has ratified the appointment of Olatunji Disu as the acting Inspector General of Police.
The decision was taken at a meeting presided over by President Bola Tinubu , the third National Police Council session under his administration since taking office.
Disu was nominated by the president last week following the resignation of Kayode Egbetokun .
Disu is now expected to proceed to the senate for confirmation as the last hurdle before attaining a substantive position as the IGP
The National Police Council is responsible for the organisation, administration and operational oversight of the Nigeria Police Force, including the appointment and discipline of senior officers.Governors of Kwara, Ogun, Lagos, Ondo, Enugu and Plateau states attended the meeting, alongside the ministers of Police Affairs, the Federal Capital Territory and Interior.
News
DSS Arrests Suspect Over Edo Attack on Peter Obi, Others
Stephen stated online that Obi was lucky to have escaped in Benin, and vowed that the former presidential candidate wouldn’t be that lucky next time.
• Suspect Udeme Monday Stephen, posted on his X account @stevetom788.
The Department of State Services (DSS) has arrested a man suspected of being behind the recent attempt to assassinate the 2023 presidential candidate of the Labour Party (LP), Mr. Peter Obi, in Benin, the Edo State capital.
Obi, a former governor of Edo State, Chief John Oyegun, and several chieftains and members of the opposition All Democratic Congress (ADC), on February 24, escaped death by the whiskers when armed men fired several gunshots at them at their party’s meeting in Benin.
Shortly after the attack, one Udeme Monday Stephen, posted on his X account @stevetom788.
He claimed responsibility for the attack and threatened further attacks on Obi.
Stephen stated online that Obi was lucky to have escaped in Benin, and vowed that the former presidential candidate wouldn’t be that lucky next time.
“We warned Obi against his entrance into Edo State, but he mistook our resolve for his Obidiots online noise. Thank his stars he (Obi) survived this one…
“I learned that he’s going to my Rivers State… Na my men go handle that one and dem no dey miss target… Speak no peace to a bastard and wish him no long life, for he’s destined to die,” posted Udeme.
A top security source disclosed that, no sooner had Stephen issued the threat than DSS operatives began covert investigation, deploying forensic analysis to track and arrest him.
The source disclosed that the suspect is 26 year old called Udeme Monday Stephen, and teaches at Jessica High School in Eliozu, Rivers State, at Umuehere Community, in Obio-Akpor LGA of the state.
“I strongly believe that the outcome of the agency’s forensic investigations implicated the suspect,” the source stressed”
You know that, as a responsible security organisation saddled with the task of counter-espionage, VIP protection, among other asset protection duties, the DSS is always alive to its responsibility of investigating credible intelligence, irrespective of tribe or religion.
“They swiftly deployed operatives and the man who threatened Peter Obi was nabbed and is in custody,” the source declared, adding that Stephen would soon be charged to court.
News
Chaos at Lagos Airport tollgate as cashless policy commences
The implementation of the Federal Airports Authority of Nigeria’s (FAAN) new cashless payment policy at airport access gates sparked significant chaos and gridlock at the Murtala Muhammed International Airport (MMIA) tollgate in Lagos on Sunday, March 1, 2026.
Motorists and passengers faced long delays, with vehicles backing up at the toll lanes as many drivers attempted to register for the required prepaid “Go Cashless” cards on the spot.
The policy, which took full effect nationwide on March 1, 2026, prohibits cash payments at airport toll gates, car parks, executive lounges, and other revenue points, mandating the use of contactless prepaid cards issued by FAAN.
The sudden enforcement caught numerous users unprepared, despite prior announcements and publicity campaigns urging early registration at designated FAAN offices or points near entrances.
Reports described heated exchanges between drivers and toll officials, failed electronic transactions, and confusion over the new system, leading to some passengers missing flights and widespread frustration.
FAAN’s Director of Public Affairs and Consumer Protection, Henry Agbebire, confirmed that no cash payments were accepted on the first day, attributing the congestion to on-site registrations. He emphasized that the initiative aims to eliminate revenue leakages, enhance transparency, and align with the Federal Government’s push for a cashless economy, in partnership with the Central Bank of Nigeria.In response to the disruptions,
FAAN issued an appeal for patience and cooperation from motorists and airport users. The authority noted it had deployed additional personnel to the gates and increased registration points to speed up processing for first-time users.
Officials acknowledged the initial adjustment challenges as typical for such a major transition but assured that operations would stabilize over time.Similar gridlock was reported at the Nnamdi Azikiwe International Airport in Abuja, highlighting nationwide implementation hiccups on day one.
FAAN reiterated that prepaid cards enable faster, safer, and more convenient transactions moving forward, with provisions made for easy access and activation.
-
Business3 days agoGlobal Links and Services Ltd adds Namibia to its Tourism Packages
-
News3 days agoGovernor Nwifuru Suspends Commissioners of Work and Infrastructure
-
News2 days agoA Lagos Drug Kingpin Ends Up in NDLEA Net After 13 Years in Hiding
-
News2 days ago
Police hunt for abductors of Ebonyi ex-deputy Governor’s Father
-
News17 hours agoDSS Arrests Suspect Over Edo Attack on Peter Obi, Others
-
News1 day agoChaos at Lagos Airport tollgate as cashless policy commences
-
International21 hours agoHow Iran chooses its supreme leader, and who could be next?
-
News17 hours agoNational Police Council Ratifies Disu’s Appointment
