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Subsidy: “I am ready to work and listen at any time,’’ We will review the minimum wage to reflect the realities, Says Tinubu
..Vested interests resisting subsidy removal – Shettima
President Bola Tinubu on Friday said that the national minimum wage needs a review to reflect realities, assuring that improved livelihood for Nigerians remains a top priority of his administration, with more people-focused economic policies.
President Tinubu also advised national and sub-national governments to work together on the issue, which, according to him, already requires “soul searching.’’
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This is as the All Progressives Congress, APC, governors under the umbrella of Progressive Governors Forum, PGF, have thrown their weight on the removal of subsidy.
Speaking when he received members of the PGF led by the Chairman, Senator Hope Uzodinma of Imo State, at the Presidential Villa, Abuja, President Tinubu said that there is the need to look at the minimum wage
According to him, “We need to do some arithmetic and soul searching on the minimum wage,’’ adding, “We will have to take a look at that together, and the revenue. We must strengthen the source and application of our revenue.’’
President Tinubu urged the governors to seize the opportunity of being chosen among millions of citizens in their states to make a difference in the lives of people, adding that he will work for the benefit of Nigerians.
He said, “This meeting is not strange to me, and the content of the meeting is so valuable. The camaraderie is very stimulating. This is about the Nigerian project, not Bola Tinubu.”
He also assured that the multiple exchange rates will be streamlined, noting that governance was a continuum.
He said, “I have inherited the assets and liabilities of my predecessor. This is the first time you entered the Council Chambers, and it is my first time too for a meeting.
“As progressives and thinkers under the umbrella of the All Progressives Congress (APC), you have a role to play in educating our people and making sure we manage ourselves,’’ the President told the governors.
He further said it was a good and encouraging sign that the APC has a majority in the National Assembly and some Houses of Assembly, which will make it easier to develop policies that will directly impact the economy and the people.
“If we work together, the Nigeria of our dreams is not far away. Rest assured that we will not have multiple exchange rates anymore. You asked for this meeting, and I had to set aside time to be here.
“We have a political party that we will need to manage, whichever way, we have inherited assets and liabilities, and we cannot complain,’’ he stated.
President Tinubu said he would maintain an open-door policy, willing to entertain issues, deliberate, and collectively find solutions to the challenges facing the country, including security.
“It is in our hands, and I am ready to work and listen at any time,’’ he added.
In his remarks, the Vice President, Kashim Shettima, called on the governors to rally around the President as he tackles the challenges that stagnate the economy, like the oil subsidy and multiple exchange rates.
“Let us rally around the President and not buckle. There are vested interests that may want to resist the subsidy removal. Its removal will free resources for the development of your states,” he added.
Earlier, the Governor of Imo State pledged the support of the Progressive Governors to the President, noting that the initial decisions already foretell good intentions for the economy.
“We are here today as members of the APC to fraternize with you as our leader, and congratulate you on your election as President, and Commander-in-Chief.
“We are using this opportunity to express our support for you at this trying time in our history,’’ he said.
Uzodinma noted that the President had started well, by placing the economy and welfare of the people on a priority list, with honesty of purpose.
“We are aware of your capacity and excellent track record,’’ the PGF Chairman stated.
Speaking to correspondents later, Uzodinma, declared that Tinubu never prepared the 2023 Appropriation Act that did not provide for subsidy payment beyond June this year, and therefore, he was not the one that directed the cessation of subsidy payment.
Uzodinma, who noted that all the presidential candidates promised to remove subsidy if elected, also said that since every government must inherit assets and liabilities from preceding governments, subsidy removal was part of the liabilities taken over by the Tinubu administration.
The PGF boss recalled that even the National Economic Council (NEC) led by former Vice President Yemi Osinbajo also agreed that subsidy must go.
He said petroleum subsidy was no longer sustainable as he said it was pulling the country down.
Uzodinma noted that it has come to the point where it was either managed or it would kill the country.
He added: “If you’ll recall, government after government attempted to remove subsidy on petroleum products, right from 1999 till date and it has not been 100% successful. After all, subsidy has been removed from AGO and today, 70% of the houses in various metropolis have generators installed as source of energy.
“Now, during the presidential campaigns, the presidential candidates of all the political parties promised that when they assume office they’ll remove subsidy on petroleum products. No presidential candidate of any political party that did not make that promise as part of his campaign manifesto.
“Now what Mr. President did during the inauguration, he did not direct that subsidy should be removed, we already agreed as a government and in the National Economic Council that subsidizing petroleum products is no longer sustainable because for the past two years, we have been borrowing to subsidize and in various meetings.”
Uzodimma lamented the sudden adjustment of petroleum pump price in less than 24 minutes the President announced that subsidy is gone.
Describing it as man inhumanity to nan, the governor contended that the product that was hiked was still the old product that enjoyed the subsidy.
“I am not aware any fuel marketer has imported fuel,” he said.
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Our Security Crisis Troubles Me Most,” Tinubu Admits
President Bola Tinubu says insecurity remains the most troubling challenge facing Nigeria, especially the Northern region.
He said on Saturday in Kaduna that urgent efforts were required to rebuild trust, strengthen unity and restore safety across communities.
Tinubu, represented by the Speaker of the House of Representatives, Tajudeen Abbas, spoke at the 25th Anniversary of the Arewa Consultative Forum (ACF) and the launch of its Endowment Fund.
The president said insecurity must be tackled decisively to prevent further economic decline and educational setbacks.
Tinubu said, “Nothing troubles me more gravely than the security crisis bedevilling Nigeria, especially Northern Nigeria,
“We cannot prosper when one limb of the national body is paralysed.”
He said his administration inherited complex security challenges but was addressing them with “urgency and determination.”
The president said that the government was committed to eliminating terrorist and bandit groups operating in the North and reversing the region’s economic decline.
He expressed optimism about Northern Nigeria’s economic prospects, saying he looks forward to the day crude oil tankers begin to roll out from Kolmani and other northern oil fields.
Tinubu added that key infrastructure projects, including the Abuja, Kaduna,Kano Superhighway,. were being fast-tracked for completion and commissioning.
He said the North must speak with honest and courageous voices to address its challenges, warning that the region cannot progress if leaders fail to protect vulnerable communities.
“We fail the day we sleep comfortably while millions sleep with empty bellies, the day fear becomes a permanent companion for travellers,” he said.
Tinubu added that although decades of dysfunction had strained unity, the diversity represented at the ACF anniversary demonstrated a collective resolve to resist division and restore solidarity.
The president praised the ACF for serving as the conscience of Northern Nigeria for 25 years, saying that the forum had consistently defended dignity, fairness and equality for millions.
He described the Silver Jubilee as a celebration of courage, advocacy and principled service.
Tinubu urged leaders across all sectors to recommit to the values that guided the founding of the ACF, stressing that the unity and stability of the North were vital to Nigeria’s overall peace and development.
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Nestoil Secures Major Win as Court Removes Asset Freeze in $1bn Dispute
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• Security personnel vacate office premises
• Company says damage to property undergoing assessment
Nestoil last night took possession of its office headquarters in Lagos after an initial defiance by some security agencies of a November 20, 2025 court order by Justice Daniel Osiagor, which directed them to immediately withdraw their officers from the premises of the defendants.
Lawyer to the defendants, Chino Obiagwu (SAN) who confirmed the development yesterday, noted that despite the overreaching orders by the courts, the police had declined to vacate the property as well as other assets, including its bank accounts, which were earlier frozen.
In the high-profile debt dispute between FBNQuest Merchant Bank Limited, First Trustees Limited, and oil and gas conglomerate Nestoil Limited, the Federal High Court in Lagos had directed the Lagos State Police Command to immediately withdraw its officers from the premises of the defendants.
“The Court yesterday (Friday) vacated the ex parte that was granted by the court for First Trustees to take possession of Nestoil Towers, among others, and freeze the account. So, all those orders were overreaching and yesterday the courts, the same federal high court, vacated all the orders and directed that Nestoil should recover their possessions and recover the accounts and other assets.
“ So, we have been making efforts to take possession, but the CP refused to withdraw his men until this evening due to pressure from all angles, the CP has withdrawn his men and the company has taken full possession of the Nestoil Towers,” Obiagwu stated.
While stressing that gaining access into the corporate offices was difficult for the security agents since it is electronically controlled, Obiagwu, however pointed out that the CCTV cameras outside were defaced, pointing out that the company was taking steps to take inventory to ensure that there’s no substantial damage to the property.
“What we know is that in a situation like this, we will advise the company to look at their reputational damages, because there was no basis whatsoever for First Bank to come to this property. This property is not owned by Nestoil or any of the companies they are claiming are owing them.
“They are just tenants. And you cannot come to a property owned by somebody else and lock it up for two weeks and chase away people and close businesses,” he added.
The directive followed a court order which vacated an earlier ex parte order that had authorised law enforcement agents’ presence at the facilities of Nestoil Limited, Neconde Energy Limited, and their directors, Ernest Azudialu-Obiejesi and Nnenna Obiejesi.
In a formal letter to the Lagos State Commissioner of Police, the Deputy Chief Registrar of the Federal High Court, Longwa, conveyed the court’s decision, informing the police hierarchy that the legal basis upon which officers had been deployed to the premises had been set aside.
The letter, dated November 20, 2025, referenced Suit No. FHC/L/CS/2127/2025, and confirmed that Justice Osiagor’s ruling effectively nullified the earlier enforcement actions taken in connection with the plaintiffs’ claims.
“We refer to the Order of Honourable Justice D.E. Osiagor delivered on the 20th day of November, 2025, in respect of the above-mentioned matter. We hereby request that you withdraw your officers from the premises of the defendants, in view of the fact that the said order has been set aside. We look forward to your kind cooperation in this regard,” the letter stated.
The court’s decision restored control of the affected premises to the defendants pending further hearing of the substantive suit, which the Lagos State Police Command was expected to comply with.
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But despite the court’s explicit directive, officers of the Lagos Police Command earlier on Friday reportedly refused to leave and went further to block Nestoil staff from accessing their offices, an action that triggered outrage within the company and raised fresh concerns about institutional disregard for judicial authority.
Before the decision of the police to leave the premises, speaking at the premises, Nnaji Iwe, Associate Director and Chief of Staff at Nestoil, said the company had fully complied when the initial ex parte order was served, only to be confronted with resistance when the same court vacated it.
“When the ex parte order was served on us, we complied without resistance. Now that the Federal High Court has vacated that order, we expect the Commissioner of Police to obey. It is not for him to pick and choose which orders to obey,” he noted.
Iwe disclosed that officers not only denied access but also tear-gassed staff, forcing them to flee for safety. “We came in peace, ready to take lawful possession. Instead, we were tear-gassed. We are law-abiding citizens. No one should be above court orders,” he stressed.
Nestoil’s Group General Counsel, Abimbola Atitebi, described the police defiance as a dangerous affront to judicial authority, revealing that court bailiffs were told by police officers that the Federal High Court “needed permission” before its order could be enforced.
“This is beyond terrible. Ex parte orders are temporary. The court vacated it, wrote formally to the Commissioner of Police, and directed him to withdraw officers. For the police to remain there is a complete breakdown of the rule of law” Atitebi said.
The counsel warned that the prolonged occupation of the premises, despite the vacated order, sent troubling signals to foreign investors and undermined the federal government’s efforts to attract investment.
“This is a company in a critical sector. Foreign tenants are trapped. Some cannot access their belongings. What message are we sending? If police will not obey the Federal High Court, what will they obey?”, he said.
The underlying lawsuit was filed by FBNQuest Merchant Bank and First Trustees Limited, who alleged significant indebtedness on the part of Nestoil and its affiliates. The earlier ex parte order had paved the way for a purported receiver-manager to take possession of certain assets.
However, the court found that the order meant to preserve the subject of litigation pending formal hearing had overstayed its legally allowable lifespan and was improperly used to take possession.
In the same vein, Atitebi confirmed that the company’s senior counsel will escalate the issue to the highest levels of the police hierarchy and federal security architecture, describing the officers’ refusal to obey court orders as part of “a broader breakdown of constitutional order.”
“We are a law-abiding enterprise,” he said. “We will escalate this to the highest authorities. No democracy can function where court orders are subjected to personal discretion.”
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Renewed Hope : No governor can complain of lack of funds under Tinubu’s administration, Says Sanwo-Olu,
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Lagos State Governor, Babajide Olusola Sanwo-Olu, has declared that under the administration of President Bola Ahmed Tinubu, no state governor or local government chairman can genuinely complain of a lack of funds.
He said the Tinubu administration has significantly increased allocations to subnational governments, ensuring that states and local councils have more resources to meet their developmental obligations.
Sanwo-Olu stated this on Tuesday, November 11, while delivering the keynote address at a one-day public lecture organized by the Arewa Think Tank (ATT) to commemorate Nigeria’s 65th Independence anniversary at the Arewa House, Kaduna.
The lecture, themed “65 Years of Nigeria’s Independence: The Journey So Far with the Renewed Hope Agenda in View,” brought together political leaders, academics, youth groups, and other stakeholders to reflect on Nigeria’s national progress and future under President Tinubu’s Renewed Hope Agenda.
The Lagos Governor praised the resilience and ingenuity of Nigerians since independence, noting that despite the country’s challenges, its capacity for growth, reform, and unity remains unmatched.
“Today, that story has changed. Ask any State Governor or Local Government Chairman, and they will tell you just how much revenue has surged under the watch of President Bola Ahmed Tinubu. There is now more money to do more that benefits the people of Nigeria,” Sanwo-Olu said.
He attributed the improved fiscal outlook to deliberate policy reforms by the Tinubu administration, particularly those designed to strengthen federalism and empower the states and local governments.
According to him, between 2023 and 2024, federal allocations to state governments rose by about 62 percent, while allocations to local governments increased by 47 percent. He said the recently enacted tax reforms, which reduced the Federal Government’s share of Value Added Tax (VAT) from 15 percent to 10 percent, further underscored the President’s commitment to fiscal decentralization and grassroots development.
“With the new tax laws, states now get 55 percent of VAT, while local governments receive 35 percent. This is another bold step by the President to ensure that governance is closer to the people,” he noted.
Sanwo-Olu also lauded the President’s insistence on local government financial autonomy, recalling the administration’s Supreme Court victory, which secured historic legal backing for that autonomy.
He disclosed that President Tinubu’s next major reform focus is restructuring Nigeria’s security architecture through the creation of State Police, an initiative he described as “long overdue and fundamental.”
Citing Tinubu’s recent remarks during a meeting with Katsina leaders, Sanwo-Olu quoted: “I am reviewing all aspects of security. I have to create a State Police. We are looking at that holistically. We will defeat insecurity.”
He described the Renewed Hope Agenda as a bridge-building framework aimed at uniting Nigeria’s diverse regions through equity, reform, and inclusive development.
“President Tinubu is a veteran unifier and a bridge-builder. His Renewed Hope Agenda is about connecting Nigeria, bridges of reform, prosperity, and national unity,” he said.
Drawing inspiration from Nigeria’s founding fathers, especially the late Sir Ahmadu Bello, the Sardauna of Sokoto, Sanwo-Olu emphasized that true national development must be homegrown and context-specific.
“More than six decades later, Sardauna’s words still ring true. Our duty is to build on those legacies, planting trees we may not sit under, but ensuring a better Nigeria for future generations,” he said.
He reaffirmed that Nigeria’s diversity remains its greatest strength, saying: “We will continue to affirm that Nigeria is a proudly multi-ethnic, multi-religious, and multicultural country. What binds us together is far stronger than what divides us. We shall overcome every challenge, poverty, hunger, and terrorism.”
Sanwo-Olu pledged Lagos State’s continued partnership with the Federal Government in actualizing the Renewed Hope Agenda and building a prosperous, inclusive, and resilient nation.
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