Connect with us

news

Subsidy: “I am ready to work and listen at any time,’’ We will review the minimum wage to reflect the realities, Says Tinubu

Published

on

..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.’’

Related News
Four arrested for allegedly sodomising eight minor boys in Jigawa
Benue Gov dissolves State Assembly
Sanwo-Olu pardons 49 prisoners for 2nd term celebration
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.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.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

news

REA Targets 3.7GW Solar Manufacturing to Bridge Nigeria’s Power Deficit

Published

on

The Rural Electrification Agency (REA) has unveiled plans to establish 3.7 gigawatts (GW) of local solar photovoltaic (PV) panel manufacturing capacity by the end of 2027 as Nigeria intensifies efforts to expand electricity access and reduce dependence on imported renewable energy equipment.

Managing Director of the agency, Engr. Abba Aliyu, disclosed the initiative in Abuja during a benchmarking visit by officials of the Zanzibar Utilities Regulatory Authority (ZURA).

He said the agency is encouraging Chinese solar manufacturers to establish production facilities in Nigeria, noting that locally assembled solar panels are already being exported from Lagos to neighbouring Ghana.

According to him, the planned manufacturing expansion will significantly reduce imports while strengthening Nigeria’s renewable energy value chain. Aliyu attributed the rapid global growth of renewable energy to falling prices of solar panels and lithium batteries, saying technological innovation has made off-grid electricity the most cost-effective solution for millions of underserved communities.

He said Nigeria’s electricity access rate currently stands at 61.2 per cent, leaving about 80 million people without reliable power supply.

To address the challenge, REA has adopted a least-cost electrification strategy that determines the most suitable technology for each community rather than relying solely on national grid expansion.

The agency has mapped more than 700,000 communities nationwide, with plans to serve about 45 per cent through solar home systems, 31 per cent through mini-grids and the remaining 24 per cent through grid extension.

Aliyu added that REA has developed one of Africa’s most extensive geospatial electricity databases, covering more than 51,000 health facilities, 11,000 markets, thousands of schools, factories, dams, electricity feeders and existing mini-grids to support investment planning.

He noted that the agency’s interventions also target underserved communities receiving less than six hours of electricity daily. The REA boss warned that electricity demand would continue to rise sharply as Nigeria’s population grows, more sectors become electrified and emerging technologies such as artificial intelligence and data centres consume increasing amounts of power.

Continue Reading

news

Budget Office Explains PFIPC Allocation, Says Agency Emerged During Buhari Administration

Published

on

•Explains how PFIPC was allocated money in the budget.

The Budget Office of the Federation (BOF) yesterday explained that the Presidential Foreign Intervention Promotion Council (PFIPC), which the presidency declared as fake and is currently being investigated by the Independent Corrupt Practices Commission, ICPC, had its origin in the last administration of late President Muhammadu Buhari.

The Director-General of the Budget Office, Mr. Tanimu Yakubu who provided the explanation in a statement, after appearing before members of the House of Representatives, in Abuja said the PFIPC’s institutional origin was premised on the Presidential Economic Advisory Council inaugurated by President Muhammadu Buhari on October 9, 2019. He also explained how the fake agency was allocated money in the 2026 budget.

His words, “PEAC/PFIPC did not enter the 2026 Budget merely because it asked for funds. The Council had its origin in the Presidential Economic Advisory Council inaugurated during the administration of the late President Muhammadu Buhari on October 9, 2019. By the time preparation of the 2026 Budget began, official instruments had already been issued by the institutions charged with those functions.

“The Office of the Accountant-General of the Federation had assigned an administrative code to the PFIPC. The Office of the Head of the Civil Service of the Federation had approved an authorised establishment and a recruitment waiver. The applicable public-service salary structure also existed. These instruments did not come from the Budget Office. They came to it.

“The Budget Office did not create the Council. It did not assign its code. It did not approve its establishment. It did not grant its recruitment waiver. It received official instruments and did what the law required of it: it measured their fiscal effect.”

Mr. Tanimu further explained that the Council submitted a personnel estimate of N3.850 billion for the 2026 Fiscal Year and that his Office had to reduce that figure to N802.978 million, using the authorised establishment, the approved recruitment waiver, the applicable public-service salary structure and the extant costing methodology

According to the D-G, “Council later submitted a personnel estimate of N3,850,935,000.00. That estimate did not form the basis of the Budget Office’s recommendation. The Budget Office disregarded it and made an independent calculation using only the authorised establishment, the approved recruitment waiver, the applicable public-service salary structure and the extant costing methodology.

“That calculation produced N802,978,783.00. This was not a concession to the Council. It was the Budget Office’s own fiscal judgment. It was the amount placed in the Executive Budget proposal and later appropriated.

Mr Yakubu said that the Council could not receive the approved funds for personnel because its promoter, Prince Adeyemi Adeniyi could not secure Financial Clearance, an instrument that confirms that necessary fiscal and regulatory had been met.

He said, “Financial Clearance is the point at which a personnel provision may begin to acquire legal force as expenditure. It is not a routine letter. It is the confirmation that the fiscal and regulatory conditions for recruitment have been met. Until it is issued, the figure remains in the budget. It does not create staff. It does not open payroll. It does not produce salary. The Budget Office did not issue Financial Clearance for PEAC/PFIPC because the conditions were incomplete.

“The 2026 Appropriation Bill did not become law until Presidential Assent on 31 March 2026. Before that date, the Budget Office could cost the proposal. It could not grant final Financial Clearance against a bill that had not yet become law.

“After assent, a further condition remained outstanding. The National Salaries, Incomes and Wages Commission had not confirmed that the proposed staffing and remuneration arrangements complied with its prescribed template and the approved public-service compensation framework.

“The Budget Office could calculate the cost. It could not open the gate. There was therefore no Financial Clearance. There was no lawful recruitment. There was no payroll enrollment. There was no salary payment.”

The D-G added, “The personnel provision was N802,978,783.00. It represented 61.63 per cent of the total appropriation of N1,302,978,783.00. It has sometimes been described as though the Council could have received the whole amount and spent it at will. That description is false.

“Personnel appropriations are not paid to agencies as lump sums. After every legal condition has been met, salaries are paid month by month. The money moves electronically into the designated bank accounts of verified employees enrolled on the Federal Government payroll.

“The institution does not receive the annual personnel provision as cash under its control. Even in a lawful process, the Council would not have received N802,978,783.00 in one payment. The money would have gone over twelve months to individual employees. That process never began. No Financial Clearance was issued. No recruitment took place. No payroll record was created. No salary became due. Not one kobo of the personnel provision could lawfully have been drawn. Not one kobo was drawn. There is no personnel expenditure to recover because there was no personnel expenditure.”

The PFIPC controversy became public on June 11, 2026, when the Chief of Staff to the president, Mr Femi Gbajabiamila, declared the Council as fake and petitioned the law enforcement agencies.

However, at a press conference on June 26, the Director General of the PFIPC, Prince Adeniyi Adeyemi faulted the presidency’s disclaimer. He alleged that Gbajabiamila received N400 million through a proxy and demanded an additional N200 million to secure his appointment — an allegation which the Chief of Staff denied and has sued him to court claiming N15b as damages for defamation. Adeyemi is currently in custody after he was arrested by the police in connection with the PFIPC scandal and alleged forgery.

Before his arrest, Adeyemi claimed he personally approached officials of the budget office to seek the inclusion of the Council in the federal government’s budget.

Recently, Central Bank of Nigeria (CBN) confirmed that it opened two domiciliary accounts linked to the PFIPC on the directive of the Office of the Accountant-General of the Federation (OAGF).

The apex bank, however, said the accounts, one denominated in United States dollars and the other in British pounds sterling, were never funded or operated.

Continue Reading

news

BREAKING: Trump Applauds Tinubu’s Fight Against Terrorism, Pledges Continued US Backing

Published

on

United States President Donald Trump has commended President Bola Tinubu for what he described as his decisive leadership in tackling terrorism and insecurity in Nigeria, particularly attacks targeting Christian communities.

Trump conveyed the praise in a letter dated July 6, 2026, the contents of which were made public on Wednesday in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.

In the letter, titled “President Trump lauds President Tinubu’s decisive leadership against terrorists,” the US President applauded Tinubu’s efforts to confront security challenges and reaffirmed Washington’s commitment to supporting Nigeria’s counter-terrorism operations.

“Thank you for your thoughtful letter. Your kind words mean a great deal to me, and I appreciate your decisive leadership on behalf of the Nigerian people.

“I applaud your resolve to tackle the issues plaguing your nation, especially the violence affecting Christian communities, and it is a true honour to stand with you in the fight against terrorists and to make the Federal Republic of Nigeria stronger and more prosperous,” Trump wrote.

Trump described the relationship between the United States and Nigeria as increasingly important amid growing security challenges across West Africa.

“The United States-Nigeria relationship is crucial at a time when conflict has spread across West Africa and around the world. We both share a mutual goal of confronting terrorism in all its forms, and our historic US-Nigeria 2026 Defence Cooperation Roadmap has established a robust framework to accomplish this feat,” he stated.

The US President also highlighted ongoing defence cooperation between both countries, noting that American Special Operations Forces had been deployed to assist Nigeria’s military.

“I am proud to have deployed the United States Special Operations Forces—among the most elite military units anywhere in the world—to equip the brave men and women in the Armed Forces of Nigeria with the skills, tools and intelligence they need to protect your homeland and ensure the safety and security of citizens, particularly those of faith who have been under attack.

“I look forward to our continued discussions over the course of my Presidency,” Trump added.

According to the Presidency, Nigeria and the United States have expanded security cooperation in recent months following the establishment of a Joint Working Group co-chaired by the National Security Advisers of both countries.

The collaboration has centred on intelligence sharing, military training and coordinated operations against terrorist groups.

The statement noted that one of the key outcomes of the partnership was the joint operation carried out on May 16 against ISIS hideouts in the Lake Chad region, which reportedly led to the killing of the group’s senior leader, Abubakar Al-Minoki, along with several of his lieutenants.

The Presidency also disclosed that the US Assistant Secretary of State for Africa, Frank Garcia, visited Abuja last week, where he held talks with senior Nigerian officials and pledged to deepen bilateral cooperation in security and other strategic sectors.

Continue Reading

Trending

Copyright © 2025 Newsthumb Magazine | All rights reserved