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Why I Removed Subsidy On Petrol – Tinubu

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President Bola Tinubu explained on Tuesday that the decision taken to remove subsidy on petrol was a challenging one but necessary to ensure a transparent and accountable energy sector.
The President, who spoke at the opening of the 2024 Nigeria International Energy Summit, NIES, in Abuja, acknowledged that the decision has led to hardship, especially amongst low-income earners, assuring that eventually the economy will improve and the benefits will manifest.
Represented by the Minister of Information and National Orientation, Mohammed Idris, Tinubu said energy security was a priority for his administration.
He said: The petroleum subsidy has, over the years, strained our economic resources, leading to inefficiencies and, most importantly, hindering our ability to invest in critical areas of energy security.
“By removing the subsidy, we are creating a more transparent and accountable energy sector. The funds that were previously allocated to subsidising petroleum products are now redirected towards developing and upgrading our energy and other social infrastructure.
“Furthermore, the removal of the subsidy has encouraged further private sector participation in the energy industry, with the potential to attract more local and international investors and foster innovation and competition that will drive down costs and improve the overall efficiency of our energy sector.”
Acknowledging the hardship caused by the decision, the President said: “I am acutely aware of the immediate impact this decision may have had on our citizens, especially those with lower incomes.
Therefore, in parallel with the subsidy removal, my administration is committed to implementing social intervention programmes to mitigate the short-term effects on vulnerable populations. These programmes will ensure that the burden of subsidy removal is shared equitably and that the most vulnerable among us are protected.
“The decision to remove the petroleum subsidy is not an easy one, but it is a necessary one for the long-term energy security and economic prosperity of our beloved nation. I call upon all stakeholders, including industry experts, policymakers, and the general public, to engage in constructive dialogue and collaboration as we navigate these challenging but transformative times.
“Together, we can build a resilient and sustainable energy future for Nigeria.”

NEWS

2027 Elections: CAN Disowns Man Claiming its General Secretary

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By Laide Akinboade, Abuja

The Christian Association of Nigeria (CAN) on Wednesday, disassociate itself from Archbishop Chivir Chianson and the group he represents, following attempts to present himself as the General Secretary of the Association and associate CAN with a purported church mobilisation in support of a political candidate ahead of the 2027 general elections.

This was contained in a statement issued by the CAN President, Archbishop Daniel Okoh in Abuja.

Okoh insisted that Archbishop Chivir Chianson is not the General Secretary of CAN and has no authority or mandate to speak or act on its behalf.

According to the CAN boss, “Furthermore, the group he represents has no official affiliation, working relationship or institutional connection with CAN.

“CAN has not authorised, endorsed or mandated the individual or his group to organise, promote or undertake any political mobilisation in its name. Any political position, endorsement or activity attributed to them must not be mistaken for the position or activities of the Association.

“As the umbrella body representing Christians across Nigeria, CAN has a responsibility to defend the interests of the Christian community and contribute to national development. It will not allow individuals or groups with no official relationship with the Association to appropriate its identity or exploit its name to advance political or personal interests”.

Okoh therefore reiterated the commitment of CAN, “The Association wishes to reaffirm its commitment to political neutrality as the country approaches the 2027 general elections. CAN will continue to engage national issues objectively and hold political leaders accountable, irrespective of party affiliation, without endorsing or mobilising support for any political party or candidate”.

He also urged the members of the public, particularly Christians, as well as media organisations, to disregard any claim of official representation of CAN by the individual or his group.

“We also call on TVC News and other media organisations to exercise due diligence in verifying the credentials and institutional affiliations of individuals presented as representatives of the Association.

“CAN will take all appropriate steps to protect its name, identity and institutional integrity against unauthorised representation and misrepresentation”.

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2025: NDLEA Arrests 1,200, Seizes 30 Tonnes of Drugs in Edo – Marwa

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The National Drug Law Enforcement Agency (NDLEA), arrested 1,200 suspects and seized more than 30 tonnes of illicit substances in Edo in 2025, according to its Chairman, retired Brig.-Gen. Mohamed Buba Marwa.

Marwa disclosed this on Wednesday in Benin during a visit to the palace of the Oba of Benin, Oba Ewuare II.

Marwa, who was accompanied by senior agency officials, including NDLEA commandants in Edo and Delta, sought the traditional ruler’s support in the fight against drug abuse and trafficking.

He said that more than 15 million Nigerians were abusing drugs, representing about three times the global average, with devastating consequences for young people, families and communities.

“The drug scourge has continued to devastate our youth, our families and our communities,” he fumed.

Marwa said the problem affected all communities, including the Benin Kingdom, and required a collective response involving traditional institutions, religious organisations, civil society groups, government and the media.

“But most importantly, the traditional institution, which is arguably the most respected institution in Nigeria today,” he said.

He explained that the NDLEA’s responsibilities included enforcing drug laws and providing counselling, treatment and rehabilitation for people struggling with drug dependence.

Marwa also highlighted alternative development as a new pillar of the agency’s drug control strategy aimed at encouraging cannabis farmers to cultivate legal crops such as cassava, yam and maize.

He said cannabis accounted for 75 per cent of the 16 million kilogrammes of illicit substances seized by the agency nationwide in the past six years.

According to him, the initiative seeks to help farmers abandon illicit cultivation for legitimate livelihoods, with government support for infrastructure, including roads, schools, clinics and water supply.

Marwa said the programme had commenced as a pilot project in three communities in Ondo State, with the possibility of extending it to Edo.

He added that he had presented the proposal to the Edo governor, who welcomed the initiative.

The NDLEA chairman sought the Oba’s blessing and support in encouraging communities across the kingdom to shun drug abuse and trafficking.

Responding, Oba Ewuare II commended Marwa for his efforts against drug abuse and other social problems.

The traditional ruler said he had a suggestion for improving the agency’s operations and would communicate it privately to Marwa.

“I have a suggestion I will make in writing that I will not want to say here in public to NDLEA, as my own thinking on how to improve the work of NDLEA,” he said.

The Oba also acknowledged the importance of collective efforts in addressing societal challenges and wished Marwa and his delegation well.(NAN)

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JAIZ Bank Denies Involvement in N104m Investment Fraud in Jos Branch

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By Tony Obiechina, Abuja

Jaiz bank has denied involvement of alleged N104m fraud in its Jos branch.

In a statement by its Corporate Communications Department in Abuja on Wednesday, the bank said “Jaiz Bank Plc wishes to address recent media reports alleging institutional fraud involving a disputed ₦104 million investment arrangement in Jos, Plateau State”.

According to the statement, following a comprehensive review of transactions involving a former employee and some complainants, Jaiz Bank clarifies that the disputed funds were never received, booked, or registered under any official Jaiz Bank investment product or account.

Continuing, the state that internal records show no evidence of Bank-authorized investments, but rather indicate private transactions between the complainants and the former employee.

“The transaction details provided by the complainants do not align with Jaiz Bank’s established operational, regulatory, or authorization protocols.

“As the matter is pending before the High Court of Justice of Plateau State, Jaiz Bank urges the public and media to avoid drawing premature conclusions based on unverified public narratives.

“Jaiz Bank remains fully committed to ethical, Shari’ah-compliant finance, transparency, and cooperation with regulatory and judicial authorities to ensure a fair resolution”, the statement added.

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