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FG Postpones Petrol Subsidy Removal, Says ‘Timing Was Problematic’

Published

4 years ago

January 25, 2022

Eric

The Federal Government has postponed the planned petrol subsidy removal till further notice due to “high inflation and economic hardship”.

Subsidy or under-recovery is the underpriced sales of premium motor spirit (PMS), better known as petrol.

The government had planned to stop subsidy payments on petroleum products from July this year.

Zainab Ahmed, minister of finance, budget, national planning, disclosed this on Monday in Abuja at a meeting with Senate President Ahmad Lawan.

The meeting had Timipre Sylva, minister of state for petroleum resources; representatives of oil companies, among others, in attendance.

Last week, Lawal had said Buhari did not direct the removal of petrol subsidy, saying their “constituents are raising concerns over the policy”.

The National Economic Council (NEC) said it is still considering the recommendations of its ad-hoc committee – which proposed full deregulation and N302 per litre for PMS.

Ahmed said petrol subsidy was provided for in the 2022 budget to run from January till June.

She, however, said that after consultations with stakeholders — in view of the high inflation and economic hardship – additional provisions would be made beyond the initial period.

According to her, it has become clear that the timing for the removal of petrol subsidy will be problematic as the country still experiences heightened inflation.

“Provision was made in the 2022 budget for subsidy payment from January till June. That suggested that from July, there would be no subsidy,” Ahmed said.

”The provision was made sequel to the passage of the Petroleum Industry Act, which indicated that all petroleum products would be deregulated.

“Sequel to the passage of the PIA, we went back to amend the fiscal framework to incorporate the subsidy removal.

“However, after the budget was passed, we had consultations with a number of stakeholders, and it became clear that the timing was problematic.

“We discovered that practically, there is still heightened inflation and that the removal of subsidy would further worsen the situation and impose more difficulties on the citizenry.

“Mr President (Muhammadu Buhari), does not want to do that. What we are now doing is to continue with the ongoing discussions and consultations in terms of putting in place a number of measures.

“One of these include the roll-out of the refining capacities of the existing refineries and the new ones, which would reduce the amount of products that would be imported into the country.

“We, therefore, need to return to the National Assembly to now amend the budget and make additional provision for subsidy from July 2022 to whatever period that we agreed was suitable for the commencement of the total removal.”

On his part, Lawan appealed to the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) to shelve their planned industrial action over subsidy removal as it has become unnecessary.

TheCable

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Supreme Court Verdict: ADC Chieftain Advises Tinubu to Kiss Aso Rock Goodbye

Published

4 hours ago

May 2, 2026

Eric

A chieftain of the African Democratic Congress (ADC), Eze Chukwuemeka Eze, has declared that it is over for the President Bola Tinubu administration following the Supreme Court ruling that restored the David Mark-led National Working Committee (NWC) of the opposition party.

Eze, in a statement on Friday, criticized the Attorney General of the Federation, Lateef Fagbemi (SAN) and the INEC chairman, Prof Joash Amupitan, asserting that they should be ashamed for acting as obstacles to the survival of democracy in Nigeria.

He said: “The government led by President Bola Tinubu has tarnished the judiciary. Certain judges and courts are reportedly being systematically employed to undermine the leadership of political parties in anticipation of the 2027 general elections.

“Even when all seemed lost, given the recent court rulings in political cases, particularly those involving opposition parties, Thursday’s Supreme Court judgment was a divine intervention.

“We express our gratitude to God Almighty for prompting the Supreme Court to overturn that disgraceful, distorted, and anti-democratic ruling issued by the Federal High Court, the Court of Appeal, and the misguided interpretation and decision of INEC regarding our party, the ADC.”

He stressed that the time has come for Tinubu and his alleged undemocratic associates in Aso Rock to return to Lagos.

“With Thursday’s ruling saving the ADC from destruction, it is time for Tinubu to begin drafting his handover notes and prepare for his return to Lagos State,” Eze stated.

Eze advised the ADC to concentrate on its primary function as a prominent opposition party in the upcoming 2027 general elections, as that the leadership dispute has been resolved.

He emphasized that stability at the upper levels of the party will result in improved organization, clearer communication, and enhanced participation in Nigeria’s political arena.

Notably, he asserted that the ruling will add to Nigeria’s expanding collection of case laws regarding political party governance, and urged the ADC to stay focused on its objective of reclaiming power from the APC due to poor governance.

“It highlights the judiciary’s role in interpreting party constitutions and ensuring adherence, which may affect how future conflicts are resolved,” Eze stated.

He praised the panel for upholding justice, remarking that any opposing decision regarding the ADC’s alleged leadership issue would have further entangled the Judiciary in the murky waters of arbitral corruption.

“Clearly, this ruling has set the stage for cohesion, unity, stability, and effective leadership within the ADC.

“With this issue now definitively settled, even though it should not have been justiciable ab initio, as it pertains to an internal matter of a political party, we urge all our members, stakeholders, and supporters to unite behind the David Mark-led leadership of the ADC to collectively reposition the party for greater national significance, viability, and visibility,” Eze said.

Featured

2027: We’re on Track, ADC Hails S’Court Ruling

Published

1 day ago

May 1, 2026

Eric

The African Democratic Congress (ADC) has declared that it would never be intimidated, distracted, or silenced in its push to realize a better Nigeria.

Spokesman of the ADC, Bolaji Abdullahi, said this in reaction to the Supreme Court ruling, which affirmed David Mark’s leadership of the party.

Abdullahi said the judgment has affirmed that the Mark and Rauf Aregbesola leadership of the party is legitimate.

Abdullahi said: “The African Democratic Congress (ADC) congratulates all our members and leaders across the country on today’s Supreme Court ruling which affirmed the leadership of our party under Senator David Mark as National Chairman, and Ogbeni Rauf Aregbesola as National Secretary.

“Today’s decision is a clear affirmation that our party, its structures, and its leadership under our National Chairman, Senator Mark, and our National Secretary, Ogbeni Aregbesola, are legitimate.

“We commend the five-man panel of the Supreme Court, whose unanimous judgment has today done great credit to the judiciary in our country and our political system.

“However, while we welcome this judgment, we do not mistake it for the end of the struggle. The events leading up to this moment have exposed a troubling pattern of interference, bad faith, and attempts to weaken opposition voices in Nigeria.

“Let it be clearly stated: the ADC will not be intimidated, distracted, or silenced. We remain resolute in our mission to provide Nigerians with a credible alternative.

“We therefore urge all our members, supporters, and democratic stakeholders across the country to remain vigilant.”

Featured

Tinubu Appoints Bianca Ojukwu As Foreign Affairs Minister

Published

3 days ago

April 29, 2026

Eric

President Bola Ahmed Tinubu has appointed Ambassador Bianca Odumegwu-Ojukwu as Nigeria’s new Minister of Foreign Affairs.

The announcement was contained in a statement released on Wednesday by Bayo Onanuga, Special Adviser to the President (Information & Strategy).

The appointment followed the resignation of the former Minister of Foreign Affairs, Ambassador Yusuf Tuggar, who stepped down to participate in preparations for the 2027 elections.

According to the statement, Bianca Odumegwu-Ojukwu’s elevation marks a return to a more senior role within Nigeria’s foreign service architecture, having previously served as Minister of State in the Ministry of Foreign Affairs.

Her new appointment places her at the helm of Nigeria’s diplomatic engagements, where she is expected to oversee the country’s foreign policy direction, strengthen international partnerships, and advance economic diplomacy objectives.

“President Bola Ahmed Tinubu has appointed Ambassador Bianca Odumegwu-Ojukwu as Nigeria’s Minister of Foreign Affairs, following the resignation of Ambassador Yusuf Tuggar, who stepped down to participate in the 2027 elections.

“Ambassador Odumegwu-Ojukwu previously served as Minister of State in the Ministry of Foreign Affairs.”

The Presidency noted that the decision forms part of ongoing efforts to reposition Nigeria’s foreign policy framework for greater efficiency and stronger global engagement. It added that the new minister is expected to deepen diplomatic relations, promote Nigeria’s national interest, and ensure the welfare of Nigerians abroad remains a priority.

In the same announcement, President Tinubu also nominated Ambassador Sola Enikanolaiye as Minister of State for Foreign Affairs, subject to Senate confirmation.

Enikanolaiye, from Kogi State, previously served as Senior Special Assistant to the President on Foreign Affairs and International Relations. He is a seasoned diplomat with over three decades of service in Nigeria’s foreign affairs system and has held key postings in Addis Ababa, Belgrade, Ottawa, London, and New Delhi.

The Presidency said the appointments are part of broader efforts to strengthen Nigeria’s foreign policy architecture and improve the country’s global diplomatic engagement.

Bianca Odumegwu-Ojukwu is a lawyer, diplomat, and former beauty queen who has had a long career in public service and international diplomacy.

She was born on 5 August 1967 in Anambra State and studied law at the University of Nigeria, Nsukka. She was called to the Nigerian Bar in 1992 after attending the Nigerian Law School in Lagos.

Her academic background includes a Master’s degree in International Relations and Diplomacy from Universidad Alfonso X El Sabio in Spain, as well as postgraduate diplomas in Human Rights and International Relations from the Berg Institute, Madrid, and in Dynamics of Conflict and Cooperation from the University for Peace in Costa Rica.

Odumegwu-Ojukwu previously served as Senior Special Assistant to President Goodluck Jonathan on Diaspora Matters and later became Nigeria’s Ambassador to Spain from 2012 to 2015, where she also represented the country at the UN World Tourism Organization. She earlier served as Ambassador to Ghana.

She was appointed Minister of State for Foreign Affairs in October 2024 by President Bola Tinubu, where she supported Nigeria’s external affairs portfolio, including diplomacy, consular engagement, and international relations strategy. She has now been appointed Minister for Foreign Affairs.

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