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Subsidy Removal: ‘I Feel Your Pain, Your Sacrifice Won’t Be In Vain’, Tinubu Tells Nigerians

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President Bola Tinubu on Monday sympathised with Nigerians over the pains of the recent subsidy removal on Premium Motor Spirit known as petrol. 

In his 2023 Democracy Day speech on June 12, the President said his decision to remove fuel subsidy during his inauguration on May 29, 2023 is to save Nigeria country from going under and take the country’s resources away from the stranglehold of a few unpatriotic elements.

He asked Nigerians to sacrifice a little more for the survival of the country.

Democracy Day is celebrated yearly on June 12 in honour of the winner of the June 12, 1993, presidential election, the late Chief Moshood Kashimawo Olawale (MKO) Abiola and other heroes of democracy.

Addressing Nigerians on Monday, Tinubu said, “The democracy that will yield right dividends to the people who are the shareholders means more than just freedom of choice and right to get people into elective offices. It means social and economic justice for our people.

“To the winner of June 12, democracy offers the best chance to fight and eliminate poverty. Thirty years ago, he (MKO Abiola) christened his campaign manifesto, ‘Farewell to Poverty’ because he was convinced that there is nothing divine about poverty. It is a man-made problem that can be eliminated with clearly thought-out social and economic policies.

“It is for this reason that, in my inauguration address on May 29, I gave effect to the decision taken by my predecessor-in-office to remove the fuel subsidy albatross and free up for collective use the much-needed resources, which had hitherto been pocketed by a few rich.

“I admit that the decision will impose extra burden on the masses of our people. I feel your pain. This is one decision we must bear to save our country from going under and take our resources away from the stranglehold of a few unpatriotic elements.

“Painfully, I have asked you, my compatriots, to sacrifice a little more for the survival of our country. For your trust and belief in us, I assure you that your sacrifice shall not be in vain. The government I lead will repay you through massive investment in transportation infrastructure, education, regular power supply, healthcare and other public utilities that will improve the quality of lives.”

From N184/Litre To Over N500

The President during his inaugural speech on May 29 at the Eagle Square in Abuja had announced the removal of subsidy payment on petrol. The President said that the immediate past administration of Muhammadu Buhari did not make provisions for subsidy in the 2023 budget beyond June.

Many Nigerians had expected that the new price regime would come into effect by July 1 but almost immediately after the presidential pronouncement, queues resurfaced at filling stations across the country even as retail outlets hoard the product and increase prices.

Already, a litre of petrol is being sold at over N500 across the country following the price adjustment by the Nigerian National Petrol Company (NNPC) Limited and the presidential pronouncement on subsidy removal.

Fuel queues have since surged for the vital commodity, compounding the traffic situation in parts of the country, even as transportation costs skyrocket to more than 100% increment.

The Organised Labour had resolved to embark on a nationwide strike beginning Wednesday but was restrained by a court order of Monday, June 5, 2023. The Organised Labour subsequently shelved its planned strike after a meeting with the Federal Government last week.

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President Tinubu’s reforms push customs revenue to ₦1.3 Trillion in Q1 2025 — CG Adeniyi

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The Nigeria Customs Service (NCS) has recorded an unprecedented revenue of ₦1.3 trillion in the first quarter of 2025, more than double the ₦600 billion collected during the same period in 2023.

In a statement released on Saturday, May 24, 2025, by Bayo Onanuga, the Special Adviser to the President on Information & Strategy, the Comptroller-General of Customs Bashir Adewale Adeniyi attributed this remarkable growth to transformative reforms under President Bola Tinubu’s Renewed Hope Agenda, as revealed in an upcoming State House documentary marking the President’s second anniversary.

Adeniyi highlighted that the revenue surge emanated from improved technological deployment, enhanced port operations, tightened enforcement on revenue leakages, and a renewed culture of accountability across Customs commands.

“We collected ₦1.3 trillion in Q1 2025 alone. This is not due to higher import volumes. Imports have dropped due to foreign exchange constraints.

“What has changed is efficiency, transparency, and enforcement,” the Comptroller-General said.

He disclosed that the Service is preparing to launch the E-Customs Modernisation Project.

This $3.2 billion initiative will digitise cargo processing, surveillance, and payment systems across Nigeria’s ports and borders.

“We’re laying the foundation to move from a manual, paper-based system to a fully digital service. The E-Customs Project is central to our future. Once fully deployed, we project it will add $250 billion in cumulative revenue over 20 years,” he said.

Adeniyi added that the newly launched Authorised Economic Operator (AEO) Programme is now onboarding pre-vetted importers, allowing compliant businesses faster processing and reducing port congestion.

“It’s about trust and efficiency. If you’re compliant, you get green-lane treatment. This is how modern customs systems work globally,” he said.

The Customs CG confirmed that the Service has intensified its anti-smuggling operations and closed long-standing revenue leakages.

He said over ₦64 billion was recovered from previously under-assessed or undervalued imports in the last nine months, and major smuggling rings at the Seme, Idiroko, Katsina, and Sokoto borders have been dismantled.

He said the new joint border patrol task forces established in coordination with the Nigerian Army, DSS, and Police have also yielded positive results.

“We’re no longer just chasing smugglers in the bush. We’re using data, surveillance drones, and port intelligence to act in real-time. Once systemic leakages are now being plugged,” ” Adeniyi said.

To ease trade and reduce business costs, Adeniyi disclosed that NCS is fast-tracking the roll-out of the National Single Window.

This digital portal will integrate all government agencies involved in cargo clearance.

“Right now, you deal with up to 15 agencies manually. With the Single Window, you’ll do it all online, in one place. This will slash clearance time and costs,” the CG explained, adding that clearance timelines at Apapa and Tin Can Ports have already dropped from 21 days to 7–10 days for compliant importers.

The Comptroller-General said the agency has introduced fast-track lanes for agro-exports and is working with the Nigerian Export Promotion Council (NEPC) to streamline outbound cargo processes in line with the government’s push for non-oil exports.

“We’re promoting exports aggressively. Last year, Nigeria exported over ₦340 billion worth of solid minerals and agro commodities through formal channels, up by 38%. We’re targeting even more in 2025,” he said.

He stated that the Customs Service is also undergoing internal transformation, with over 1,800 officers trained in advanced data analytics, risk profiling, and artificial intelligence.

“Customs is no longer just about physical inspection. We are becoming an intelligence-led organisation, and our officers are being retrained to match global standards,” Adeniyi said.

“The President gave us a clear directive: block leakages, facilitate trade, and raise revenue without burdening Nigerians. That is what we are doing. And the results are beginning to speak for themselves.”

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Tinubu Appoints Philip Shaibu, Anyim Pius and others into 20 Fed Agencies

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President Bola Tinubu has approved a fresh round of appointments into more than 20 federal agencies in a move that sees several high-profile figures return to public service.

Among the appointees is former Edo State Deputy Governor Philip Shaibu, named Director-General of the Nigerian Institute of Sports, while former Katsina Governor Ibrahim Shema is the new Chairman of the Federal Capital Development Authority.

The appointments, announced via the official X account of presidential adviser Bayo Onanuga, reflect a spread across Nigeria’s geo-political zones.

Former Senate Presidents Ken Nnamani and Anyim Pius Anyim return as chairmen of the Nigerian Institute for Policy and Strategic Studies and the National Merit Award Committee, respectively.

Labour activist Isa Aremu now heads the Michael Imoudu National Institute for Labour Studies.

Also on the list are Asabe Vilita Bashir is appointed Director-General of the National Centre for Women Development.

President Tinubu also approved new commissioners for the National Population Commission, alongside new leadership for the Nigerian Agricultural Insurance Corporation, the Federal Mortgage Bank, and the Nigeria–São Tomé Joint Development Authority.

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Dangote Attends Time 100 Impact Dinner in New York

The renowned industrialist was named among the top 100 philanthropists listed in an inaugural list released by TIME Magazine on 22 May.

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L-R: Chief Executive Officer, TIME, Jessica Sibley, President/CE, Dangote Industries Limited (DIL), Aliko Dangote, Group Executive Director, Commercial Operations (DIL), Fatima Aliko Dangote and Managing Director/CEO, Aliko Dangote Foundation, Zouera Youssoufou, attending TIME100 Impact Dinner, at One World Observatory in New York City.

The Chairman of Aliko Dangote Foundation, Aliko Dangote, has pledged to invest greater funds in the upliftment of vulnerable populations across Nigeria and Africa, as part of his philanthropic efforts to give back to the society.

Dangote spoke on the sidelines of the TIME100 Impact Dinner held at ASPIRE at the One World Observatory in New York City, USA.

The renowned industrialist was named among the top 100 philanthropists listed in an inaugural list released by TIME Magazine on 22 May, alongside other global personalities such as Michael Bloomberg, football icon David Beckham, NBA star Stephen Curry, Melinda Gates and Oprah Winfrey.

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