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Tinubu considering partial reversal of fuel subsidy on petrol

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Tinubu considering partial reversal of fuel subsidy on petrol

 

President Bola Tinubu is considering a “temporary subsidy” on petrol as crude oil prices and foreign exchange rates continue to soar, TheCable understands.

There is yet no final decision, presidency sources told TheCable, but the proposal is “firmly on the table” as Nigerians continue to groan under harsh economic realities following the removal of petrol subsidy in May 2023.

Already, labour unions have threatened to embark on an indefinite strike if the petrol price further surges.

The Kenyan government, on Monday, re-introduced fuel subsidies to curb soaring prices of petrol, kerosene, and diesel in the country.

The move came after months of violent anti-government protests over the burden of high cost of living.

According to a presidency official, the “realistic” amount of petrol consumed in the country is now known following the removal of subsidy on Tinubu’s inauguration, hence the amount spent on subsidy “can now be controlled”.

On Monday, the Nigerian National Petroleum Company (NNPC) Limited said there are no plans to hike pump prices despite the rise in crude oil prices, landing cost, and fall in the value of the naira.

This is understood to be an option for Tinubu to keep the current prices, although private importers have not made a definite pronouncement on any possible adjustments.

But speculations around another increase in the pump price of petrol (currently at over N600) have caused tensions across the country, leading to panic buying in the early hours of Tuesday.

In Nigeria, the petrol pump price has been increased twice since the subsidy was scrapped. It moved from N185 to over N500 in May, and later to N617 in July.

The exchange rate, which reached an all-time high of N950 at the parallel market, has also witnessed significant increases.

Since Tinubu announced the removal of the petrol subsidy, Nigerians have had no respite from price hikes.

Foreign exchange challenges, coupled with the unrestrained slump of the naira — Nigeria’s local currency — have led to a sustained upward trend, in the prices of goods and services.

On Monday, TheCable reported that the Central Bank of Nigeria (CBN) plans to implement new measures to stabilise the naira against the dollar.

Weeks after Tinubu was inaugurated as Nigeria’s elected president, his administration — already fraught with legitimacy issues — quickly introduced several policies in a bid to revive the economy.

But with the current economic realities, it appears that these policies are not yet yielding the expected results.

TheCable

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Kano Correspondents’ Chapel Showcases One-Year Scorecard, Pledges More Reforms

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The leadership of the Correspondents’ Chapel of the Kano State Council of the Nigeria Union of Journalists (NUJ) has marked its one year in office with the public presentation of its stewardship report.

The report, presented by the Chairman of the chapel, Alhaji Murtala Adewale, at the NUJ Press Centre, Kano, highlighted achievements in welfare, professional development and institutional reforms.

According to Adewale, members’ welfare was prioritised, with ₦500,000 direct support to 10 members, ₦8.5 million loan facilities, two Hajj slots, ₦2 million medical intervention for a member, and Ramadan food distribution worth ₦2.5 million.

He said the executive also secured an additional ₦30,000 monthly allowance for members, bringing total direct financial benefits to ₦9.5 million within the year under review.

On professional development, the chairman listed initiatives such as the Tea Break Platform for networking, a four-day retreat in Kaduna, and the Distinguished Awards of Excellence to honour veteran journalists and past leaders.

The chapel also established a Cooperative Society with ₦10 million capital, installed an Olympic-standard table tennis facility, and produced a Government Compendium showcasing Kano State’s development strides.

Office improvements included unlimited 5G internet, DSTV subscription, a cleaner for the premises, procurement of an electric kettle, reactivation of the chapel’s bank account, creation of an official Facebook page, and provision of refreshments for members.

Adewale attributed the achievements to members’ unity and commitment, pledging to consolidate the gains with more programmes to enhance welfare, strengthen ethics and build capacity.

The event was attended by senior journalists, media executives, academics, government representatives and professional bodies, who commended the chapel for institutionalising accountability through the public presentation of its scorecard.

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Kano Line Resuscitation Committee Chairman Felicitates Gov. Abba Kabir Yusuf on Third-Year in Office

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The Chairman of the Kano Line Resuscitation Committee, Alh. Saidu Abdullahi Shu’aibu, has congratulated the Executive Governor of Kano State, His Excellency, Alh. Abba Kabir Yusuf, on the occasion of his third year anniversary in office.

In a congratulatory message, Alh. Saidu Abdullahi Shuaibu described the administration of Governor Alh. Abba Kabir Yusuf as purposeful, people-oriented and committed to restoring the lost glory of Kano State across various sectors.

He particularly commended the Governor for his unwavering support and commitment toward the revitalization of Kano Line, nothing that the ongoing reforms and investment in the transportation sector have rekindled hope among workers and the people of the state.

According to him, the efforts of the present administration in improving infrastructure, enhancing public transportation, empowering youths, supporting education, healthcare and promoting economic growth have continued to earn the confidence and support of the people in line with the “Kano First Agenda”.

Alh. Saidu Abdullahi Shuaibu further prayed for Almaighty Allah continued guidance, wisdom and protection upon Governor Alh. Abba Kabir Yusuf as he continues to steer the affairs of Kano State toward greater development and prosperity.

He reaffirmed the commitment of the Kano Line Resuscitation Committee to support the administration’s vision of transforming the transportation sector for the benefit of the people of Kano State.

 

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CS-SUNN Workshop Demonstrates Tools for Evidence-Based Nutrition Planning

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The Civil Society – Scaling Up Nutrition in Nigeria (CS-SUNN) has organized a two-day capacity-building workshop for stakeholders in Kano State on the use of the National Nutrition Budget Tracking System (NNBTS).

The training, held at Tahir Guest Palace, brought together key actors in the health and nutrition sector to enhance accountability and strengthen nutrition financing across the state.

During a presentation titled “Overview of Nutrition Financing in Nigeria: State Trend Analysis Review”, CS-SUNN official Jibrin Okpaji stressed that government interventions at all levels are vital for tackling malnutrition and its associated challenges.

Okpaji noted that sustained investment in nutrition is essential for improving public health and reducing preventable deaths among vulnerable populations.

He emphasized the need for stakeholders to acquire the technical expertise to effectively use the NNBTS, which would bolster advocacy for increased budgetary allocations and promote transparency in resource management.

Abdulrahman Abdullahi, Secretary of CS-SUNN Katsina State Chapter, described the NNBTS platform as a key tool for evidence-based planning, monitoring, and accountability in nutrition programs.

The training featured live demonstrations of the portal, practical exercises on data entry and reporting, and the generation of scorecards, analytical reports, and policy briefs using sample data.

Participants also developed state-level implementation frameworks and action plans for the effective adoption of the system.

In his goodwill message, CS-SUNN Kano Coordinator Salman Mohammad urged participants to fully utilize the training to achieve its objectives.

Stakeholders described the workshop as timely and crucial for strengthening nutrition governance and improving coordination among actors in Nigeria’s nutrition ecosystem under initiatives led by CS-SUNN and its partners.

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