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Why Buhari Canceled Planned Subsidy Removal

Published

4 years ago

January 28, 2022

Eric

Details have emerged on how security advice forced President Muhammadu Buhari to make a U-turn on the decision to remove fuel subsidy.

An impeccable security source told The PUNCH that intelligence handed over to the President by security officials showed that the protests that would have accompanied the subsidy removal might have been far worse than the #EndSARS demonstrations, mass protests against police brutality that grounded many parts of the country in 2020.

The official, who spoke to The PUNCH on strict condition of anonymity because he was not authorised to speak with the press, said the President was eager to implement the Petroleum Industry Act which would have ensured that subsidy was removed by June and investments in the oil sector increased.

He further stated that the government was afraid that such protests would have easily been hijacked by the opposition and affected the chances of the All Progressives Congress in next year’s election.

The official added, “The police, DSS, the National Intelligence Agency and the Office of the National Security Adviser usually send security reports to the President on the impact of sensitive issues like fuel subsidy. Reports given to the President showed that the protests being planned by unions would have been 10 times bigger than the #EndSARS protests.

“Petrol price was projected to increase to about N350 if the international price of oil continues to rise. This would have increased the cost of everything and encouraged everyone to take to the streets.

“They also drew the President’s attention to the coups sweeping many African countries and how the protests could have been hijacked by the opposition. This was why the President not only delayed subsidy removal but transferred the responsibility to the next government.”

Former President Goodluck Jonathan had in 2012 faced a similar challenge when he removed petrol subsidy forcing the price to rise from N65 per litre to N140.

The incident sparked protests in several parts of the country especially in Lagos where thousands converged on Ojota for over a week, grounding commercial activities in the country’s commercial capital.

“Some ministers actually advised the President to go ahead with subsidy removal because of the potential investments that deregulation would bring. But the President could not have taken such advice. The country is currently facing insecurity in several states, people are hungry. Outright removal of subsidy would have led to a rise in the cost of goods and protests. The alternative given to the President is to increase fuel price slightly. This could be done gradually by adding N3 or N5 periodically,” he said.

When one of our correspondents called the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, on the phone on Thursday for a reaction, he declined making any comments on the issue

But, the Special Adviser to the President on Media and Publicity, Femi Adesina, had in an interview on Channels Television’s ‘Sunrise Daily’ programme on Wednesday, said subsidy removal would have forced Nigeria into a tailspin.

Adesina added, “If that subsidy had been removed, it would have been a show of will that we want to solve this problem (oil fraud). There was a will but if you have a will and what you want to do will upturn the system, throw the country into a tailspin, then you would have to reconsider, you will weigh it. That is why further consultations will still happen.”

The Nigeria Labour Congress and the Trade Union had last year said it would on Thursday (yesterday) and February 2 embarked on nationwide protests against government’s plan to remove fuel subsidy.

But on Tuesday, the union shelved the protests following government decision to shift fuel subsidy removal by 18 months and amend the Petroleum Act, whose implementation was earlier scheduled to start in June.

The Punch

Featured

Tinubu Nominates Oyedele As Minister of State for Finance, Moves Anite-Uzoka to Budget Ministry

Published

18 hours ago

March 3, 2026

Eric

A statement signed by the Special Adviser to the President on Information and Strategy Bayo Onanuga, has announced that “President Bola Tinubu has nominated Taiwo Oyedele as the minister of state for finance, replacing Doris Anite-Uzoka.

“Mrs Anite-Uzoka will now move to the Ministry of Budget and National Planning, as the Minister of State, her third portfolio in the administration.

“President Tinubu has today conveyed the nomination of Mr Oyedele to the Senate for confirmation in a letter to the Senate President, Godswill Akpabio.

“Until President Tinubu nominated him as a minister, Mr Oyedele from Ikaram, Akoko, Ondo State, was the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.

“Mr Oyedele, 50, is an economist, accountant and public policy expert.

“He attended Yaba College of Technology, where he obtained a Higher National Diploma (HND) in accountancy and finance. He attended Oxford Brookes University and earned a BSc in applied accounting.

“He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

“Mr Oyedele spent 22 years of his working career at PwC, joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader.

“Mr Oyedele is also a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.”

Featured

Defection: Atiku’s Son, Adamu, Resigns As Adamawa Commissioner

Published

23 hours ago

March 3, 2026

Eric

Adamu Abubakar, the first son of former Vice-President Atiku Abubakar, has resigned as Adamawa State’s commissioner for works and energy development, days after Governor Ahmadu Fintiri defected from the Peoples Democratic Party to the All Progressives Congress.

Abubakar’s resignation letter, dated 2 March 2026, was addressed to the governor through the Secretary to the State Government. He gave no reason for his departure.

The timing is pointed. Fintiri announced his defection to the APC in a statewide broadcast last Friday, saying his cabinet and the PDP’s state structure had moved with him. Within 24 hours, 22 commissioners and special advisers publicly announced they were following suit. Abubakar, whose father remains one of the PDP’s most prominent national figures, was not among them.

In a statement issued Monday night, Abubakar’s media aide Abdulaziz Jauro said the former commissioner thanked the governor for the opportunity to serve and pledged continued loyalty to the administration’s developmental agenda. He also expressed gratitude to his father “for granting him the moral support and blessing to serve the people of Adamawa State” — a line that, read in context, suggests Atiku was consulted on the decision.

Abubakar said his resignation was not a withdrawal from public life. “This does not mark the end of his commitment to public service,” the statement read, “but rather the beginning of new avenues for developmental collaboration.”

The resignation leaves unresolved the question of whether it reflects a political break with the governor over his defection or a personal decision unconnected to the broader party realignment now reshaping Adamawa’s political landscape.

Featured

DSS Nabs Man over Assassination Attempt on Peter Obi

Published

1 day ago

March 3, 2026

Eric

Nigeria’s Department of State Services (DSS) has detained a man in connection with the recent attack and alleged assassination threats targeting Labour Party’s 2023 presidential candidate, Peter Obi.

According to AIT, the shooting incident took place on February 24, 2026, in Benin City, Edo State, during a political gathering attended by Obi and several figures from the African Democratic Congress (ADC). The meeting was hosted by former APC National Chairman, John Oyegun. Gunmen reportedly opened fire at the venue, causing panic and forcing attendees to disperse for safety.

According to security sources, shortly after the attack, an individual identified as Udeme Monday Stephen allegedly took to social media claiming responsibility and issuing additional threats against Obi, warning of further violence.

Intelligence officials reportedly initiated swift investigations, employing digital tracing and forensic tools that led to the arrest of the 26-year-old suspect in Rivers State. He is said to be a teacher at a private secondary school in the Eliozu area of Obio-Akpor Local Government Area.

The suspect remains in DSS custody and is expected to face prosecution. The agency reiterated its commitment to responding to credible threats and safeguarding lives and national interests without bias.