Connect with us

Featured

Subsidy Removal Will Set Nigeria on Fire, NLC Warns FG

Published

on

The Nigeria Labour Congress, NLC, has warned that those pushing for subsidy removal in Nigeria are out to set the country on fire.

The warning came against the backdrop of an announcement that the outgoing government of President Muhammadu Buhari had left the decision of petrol subsidy removal to the incoming government.

According to NLC, the focus should be on the local refining of petroleum products and not subsidy removal.

General Secretary of NLC, Emma Ugboaja, in a chat in Lagos yesterday, said nobody should drag Nigerian masses and workers into any increase in fuel price in the name of subsidy removal, insisting that organized labour will not accept it.

He said: “It will be uncharitable in 2023 for any government to talk about subsidy or no subsidy for a product that is naturally and thoroughly well-endowed in Nigeria. It smacks of wickedness for us to be discussing subsidy as an issue, rather than discussing production.

‘’The energy and resources people are putting into discussing subsidy show a lack of focus. It shows a lack of seriousness and a lack of appreciation of what governance should be. If in 2023, rather than getting people that will make proper use of our natural endowment, we are busy discussing the cosmetic challenge of subsidy or no subsidy, it is absurd.

‘Absurd comedy of subsidy’

“One would have thought that people should be setting before the incoming government a genuine challenge on how to move Nigeria forward, not for us to continue in the rigmarole of vicious, musical chairs and absurd comedy of subsidy or no subsidy. We cannot be people that do not respond to records.

“It is an open thing that the government that is about to leave in 2016 told Nigerians they had removed the subsidy. Despite the NLC’s position that there was no subsidy to remove and that what people were harping on was a price hike. They had told us that they removed the subsidy in 2016, so what subsidy are they removing or are we discussing now?

‘What we should be discussing is how to refine crude oil in Nigeria and make the product available for domestic consumption. Anything outside that shows the wickedness of the kind of intellectuals we have. We feel sick each time we see normal people come out on national television giving theories on subsidies and how they can be ploughed into healthcare or education.

Nothing is more dangerous than the way our elites try to hoodwink Nigerians. The truth is Nigerians need to wake up, we cannot continue in this vicious cycle of humiliation and slavery.

No subsidy to be removed’

“There is no subsidy for anybody to be removed. The point that has to be made is that we must refine it. Anything outside making our refineries work is wickedness. We need to make our refineries work. It is not rocket science. We hear them on an almost daily basis say Taskforce has demolished or destroyed certain numbers of refineries in Niger Delta creeks. Why can’t you use our universities to process quality control, why will you not use our universities to process cheaper and smaller processes of refining?

“We should stop treating these elites with kid gloves. Our elites are wicked to the country. So, don’t tolerate this new wave of wastage of our resources in the name of a media wave to create a capture of the psyche of Nigerians on subsidy removal that is imminent. What should be imminent is the local refining of crude in Nigeria. Nothing else should be imminent.

“Anybody moving Nigerians in the direction of subsidy removal wants to blow up the country. They can go ahead and blow up the country. But the truth is anything less than refining crude in Nigeria; you cannot push us into that argument. We have been down this route before, and it has never paid off. We keep calling it a fraud and that fraud was confirmed in 2016 when they looked us in the face and told us that they have removed the subsidy. They looked us in the face and said they were finally removing subsidiaries to free Nigerians. We protested, and they said we didn’t have any capacity to stop them and went ahead with it. They should not drag us into any increase in fuel price in the name of subsidy removal. Any increase in petrol price from the government in the name of subsidy removal, we will challenge it. We will work against it, it is straightforward.”

Speaking similarly, the Pro-Labour Civil Society Organisations, the Joint Action Front, JAF, through its Secretary, Abiodun Aremu, said: “JAF is opposed to the neo-liberal policies of privatisation and deregulation at all times.

‘’It is such policy regime that is responsible for the hike in fuel prices, sharp corrupt practices in the petroleum sector and the artificial fuel crisis induced by the Buhari regime in the past eight years

‘’The new NLC leadership needs to restore confidence in Nigerians that labour is, indeed, prepared for a total fight against all inimical socio-economic policies at the heart of the underdevelopment of the country.”

Reacting to labour’s warning yesterday, the chairman of the Major Oil Marketers Association of Nigeria, MOMAN, Olumide Adeosun, said major marketers were not comfortable with the sustenance of petrol subsidy because it had over the years stifled investment and growth in the sector.

He said: “We need full deregulation in line with the provisions of the Petroleum Industry ACT, PIA. The legislation is ultimately the best for the nation.”

Similarly, the National Operations Controller, the Independent Petroleum Marketers Association of Nigeria, IPMAN, Mike Osatuyi, said the Federal Government had continued to subsidise the price of petrol because of continued regulation of the sector.

He said: “We have always been opposed to petrol subsidies. We believe that subsidy will cease to be once the downstream sector is deregulated.

“This is required to conserve funds currently expended on subsidy as well as attract serious investors to invest, thus growing the sector.”

Also speaking, the Chief Executive Officer, the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, said: “It is clear that the current petrol subsidy is fiscally unsustainable.

“But there is a need to creatively manage the transition from the current pricing regime to a fully or partially deregulated arrangement. It is a tricky issue which could pose a serious challenge to the government if not tactically managed.

‘’The reality is that the sentiments among the citizenry are not favourable to the deregulation of petroleum product pricing or petrol subsidy removal. Even some elites are curiously not persuaded by the justification for the subsidy removal.

“If the policy transition is not properly managed, there is a risk of a social and political backlash which may be difficult to contain. No doubt, there is a sound economic and business case in favour of fuel subsidy removal.

‘’But the social and political contexts are equally critical. The subsidy is not sustainable, which is why there is a need to accelerate engagement with the relevant stakeholders to come up with a policy transition strategy that is sustainable, realistic and pragmatic. The conversation should not only be economic, but also social and political.”

“We need to expeditiously address the ongoing rehabilitation of our refineries. Domestic refining of petroleum products will ease the currently prohibitive cost of petroleum products which is largely a consequence of our vulnerability to volatilities in global oil prices and currency depreciation. The Dangote Refinery should also be supported to ensure early completion.”

Source: Vanguard

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Featured

Attempted Coup: DSS Arraigns Five for Alleged Refusal to Reveal Timipre Sylva’s Hiding Place

Published

on

By

The Department of State Services (DSS) at the Federal High Court in Abuja, arraigned five associates of former Minister of Petroleum Resources, Timipre Sylva.

They are accused of concealing information regarding the whereabouts of their principal, who is alleged to be a financier of an aborted coup attempt against President Bola Tinubu.

Sylva, a former Governor of Bayelsa State, has been declared wanted by the Federal government, and his identified properties have been marked for forfeiture following his indictment as the sponsor and mastermind of the alleged coup plot.

The five associates are Reuben Ayuba, Musa Mohammed, Friday Paul, Paganengigha Anagaha, and Ayebaifife Suobite. They were arraigned on Wednesday before Justice Peter Lifu.

A two-count charge filed against them indicates that the accused became accessories after the fact of felony on April 28, 2026, by concealing the whereabouts of Timipre Sylva, who is classified as a fugitive. The alleged offense is contrary to Section 519 of the Criminal Code Act Law of the Federation of Nigeria, 2004.

Additionally, the DSS has accused them of conspiracy to commit a felony, specifically for concealing the whereabouts of Timipre Sylva, also a fugitive, in violation of Section 516 of the Criminal Code, LFN 2004.

All the accused persons pleaded not guilty to the charges when they were read to them.

DSS lawyer, Emmanuel Orubor, requested that the judge schedule a date for the DSS to commence their trial by calling witnesses to testify against the defendants.

In response, Sunusi Musa (SAN), who represented Reuben Ayuba and Paganengigha Anagaha (the 1st and 4th accused persons), filed a bail application for his clients on various grounds.

Similar applications were made by Ibrahim Imadegbelo, representing Musa Mohammed (the 2nd accused), I. G. Kelubia, standing for Friday Paul (the 3rd defendant), and E. C. Sogo, who argued for Ayebaifife Suobite (the 5th accused person).

The lawyers pointed out to Justice Lifu that their clients have been in custody since October 25, 2025, and urged the court to grant them bail on liberal terms.

In a brief ruling, Justice Lifu granted them bail in the sum of N5 million each, along with two sureties for each, in a similar amount. The sureties are required to swear to an affidavit of means, provide evidence of three years of tax payment, demonstrate visible means of livelihood, and submit recent passport photographs.

Justice Lifu ordered that the claims of identities of the sureties must be verified by the Registrar of the Court.

Pending the perfection of the bail conditions, the Judge ordered that the accused persons be remanded in Kuje Correctional Centre in Abuja and fixed July 22 for the commencement of trial.

Continue Reading

Featured

UBA Reinforces Commitment to Rewarding Customer-Loyalty with N400m Bonus

Published

on

By

UBA Rewards Customer Loyalty with Over ₦400 Million Bumper Account Anniversary Bonus
…Reinforces commitment to rewarding customers for consistent savings
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has rewarded thousands of customers with over ₦400 million in anniversary bonuses under its flagship UBA Bumper Account, reaffirming the Bank’s unwavering commitment to rewarding customer loyalty and promoting a strong savings culture.

The payout, one of the largest loyalty rewards under the Bumper Account initiative since its launch, saw qualifying customers receive anniversary bonuses directly into their accounts, demonstrating UBA’s resolve to create lasting value for customers who consistently save with the Bank.

The UBA Bumper Account is a unique savings product that rewards customers simply for maintaining and growing their savings. Every year an eligible account reaches its anniversary, customers receive a cash bonus, making disciplined saving both rewarding and beneficial over time.
Speaking on the milestone, UBA’s Head, Retail Products, Tomiwa Sotiloye, said the Bank remains committed to ensuring that customers benefit directly from their relationship with UBA.

“At UBA, we believe customer loyalty deserves meaningful recognition. Every bonus paid is our way of saying ‘thank you’ to customers who continue to trust us with their financial aspirations. Surpassing the ₦400 million milestone reflects our commitment to creating products that not only help customers save but also reward them in tangible ways. It is another demonstration that when our customers grow, we grow with them.”

He added that both new and existing customers can open a UBA Bumper Account seamlessly through https://on.ubagroup.com/bumper-tc, any any UBA branch, the UBA Mobile Banking App, by dialing *919#, or online, positioning themselves to qualify for future anniversary rewards.

Also speaking, UBA’s Group Head, Brands, Marketing and Corporate Communications, Alero Ladipo, said the Bank’s customer-centric philosophy continues to shape its product offerings.

“The UBA Bumper Account reflects our unwavering commitment to putting customers first. We deliberately design products that reward responsible financial behaviour while delivering real value. Crediting over ₦400 million directly into customers’ accounts is not just a payout; it is evidence of our promise to make banking more rewarding and to continually appreciate the confidence our customers repose in us.”

The UBA Bumper Account remains one of the Bank’s flagship retail savings products, combining competitive savings benefits, digital convenience and attractive loyalty rewards. It forms part of UBA’s broader strategy to deepen financial inclusion by encouraging sustainable savings habits while delivering exceptional customer experiences.

Continue Reading

Featured

Dele Momodu Leadership Centre Hosts Media Scholar, Prof Abiodun Adeniyi

Published

on

By

By Anjorin Fehintola Stella

We often measure leadership by the institutions people build or the positions they occupy. Yet, during his visit to the Dele Momodu Leadership Centre, Professor Abiodun Adeniyi repeatedly returned to something less visible but perhaps more enduring; the responsibility of documenting one’s life and thoughts. He spoke as someone who understands, at a personal level, what is lost when experience is left unrecorded. His emphasis on documentation was not stylistic advice for writers. It was an argument about memory itself, about how societies retain or lose the wisdom of the people who pass through them.

Ideas disappear when they are undocumented because memory, at the collective level, is fragile and selective. A society does not remember everything that happens within it, it remembers what is written down, repeated, taught, or institutionalised. An undocumented thought, however brilliant, dies with the person who held it, or worse, drifts into vague anecdote, stripped of its original precision. This is why oral cultures, for all their richness, often struggle to transmit complex ideas across generations with fidelity. Professor Adeniyi’s point, then, was not simply about personal record-keeping. History remembers people largely through what they leave behind, not through what they intended to leave behind. Intention without artefact disappears.

When he spoke about travelling, it would be easy to reduce his words to a fondness for movement or exposure. But the deeper claim runs further than that. Travel disrupts familiarity. It exposes individuals to different ways of living, thinking, governing and imagining society. Professor Adeniyi suggested that travelling remains one of the simplest yet most profound forms of education because it broadens not only knowledge but perspective. A person confined to one environment mistakes the local for the universal. Movement across geographies forces a confrontation with alternative logics, alternative arrangements of power, family, and meaning, and that confrontation is often where genuine learning begins.

Perhaps the strongest advice he gave concerned the pursuit of a doctorate. When Aare Dele Momodu spoke of his desire to pursue a PhD, Professor Adeniyi’s response challenged a growing culture in which academic qualifications are sometimes pursued as symbols of prestige rather than vehicles of inquiry. A PhD earned for the title that follows a name produces a credential without a contribution. A PhD earned out of genuine curiosity produces new knowledge and, more importantly, sustains the kind of intellectual restlessness that defines a thinking life. Professor Adeniyi’s counsel was that one should choose a field that strikes them professionally and personally, something that connects to lived purpose rather than social signalling, because the value of advanced study lies in the questions it forces a person to keep asking long after the degree is conferred.

Professor Abiodun did not reserve his counsel for matters of scholarship alone. Turning to the younger staff in the room, Professor Adeniyi offered something closer to reassurance than instruction, that everything they are currently going through, the uncertainty, the striving, the sense of being far from where they hope to be, is a phase both he and Aare Dele Momodu have lived through themselves. It was a reminder that ambition rarely moves on a straight or visible timeline. The goals and dreams that feel distant now are not denied, only delayed, and what stands between the present moment and their fulfilment is simply time and dedication, applied without pause.

 

Underneath all these threads, travel, documentation, the meaning of scholarship, was a single, unifying idea about legacy. Legacy isn’t what people say about you. It’s what remains after you leave. This distinction matters because praise is temporary and circumstantial, shaped by mood, politics, and memory’s natural decay. What remains, however, is structural. It is the book on a shelf, the institution still running, the idea still being taught.

This is where the conversation returned, inevitably, to the Centre itself. The library. The scholars’ rooms. The conversations. The institution. Professor Adeniyi appeared genuinely moved by what he encountered, not by the scale of the buildings, but by what the buildings were designed to hold. Perhaps that is why Professor Adeniyi appeared genuinely moved by the Centre. It was never merely about architecture. It was about permanence. Buildings become legacy only when they preserve ideas.

Every visit leaves footprints. Some are physical. Others are intellectual. Professor Abiodun Adeniyi’s visit left the latter.

Continue Reading

Trending