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IPMAN, others back removal of fuel subsidy

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Some stakeholders in the petroleum sector on Tuesday said removing subsidy on fuel would benefit the nation’s economy in the long run.

The stakeholders told Our Correspondent in separate interviews in Lagos that the crash in the price of crude oil in the international market had provided the government the opportunity to stop subsidising the product.

Our Correspondent reports that Mr Mele Kyari, Group Managing Director, Nigerian National Petroleum Corporation (NNPC) had on Monday said the era of fuel subsidy was gone forever in Nigeria.

“There would be no resort to either fuel subsidy or under-recovery of any nature. NNPC will play in the petroleum marketplace, just like another marketer in the space.

“But we will be there for the country to sustain the security of supply at market price,” Kyari had said in the programme aired by Africa Independent Television (AIT).

Mr Chinedu Okoronkwo, President, Independent Petroleum Marketers Association of Nigeria (IPMAN) said the removal of fuel subsidy would allow more investors to come into the sector.

Okoronkwo said: “This is what we have been asking the government to do because there is really no need for government to be subsidising fuel annually with huge amount of money.

“These funds could have been channelled into providing critical infrastructure and health care for Nigerians which we are now seeing due to the Coronavirus pandemic.

“With the removal of subsidy, more modular refineries will come up. We already have Dangote Refinery in Lagos which will soon start operations.

“Also the Waltersmith Modular Refinery in Ibigwe, Imo State, is almost near completion. This means we won’t need to be refining our crude oil outside the country.

“The government should let the market forces determine the price, going forward and allow the private sector to be involved in the process.”

Also, Mr Wilson Opuwei, an oil and gas expert, said while the removal of fuel subsidy was good, it should, however, not be a knee-jerk reaction by the government.

Opuwei, who is the Chief Executive Officer of Dateline Energy Services Ltd, said there should be a timeline and also eligibility criteria to determine those who would participate in the process.

“Once they are able to do all of that and understand the overall gain for the country, that is when we will know we are going somewhere, ” he said.

He expressed optimism that the removal of the subsidy would be sustained even if crude oil price increases at the international market in the coming months.

Ms Tengi George-Ikoli, Programme Coordinator, Nigeria Natural Resource Charter (NNRC), said the group in its 2019 benchmark report had decried the spending of N750 billion on fuel subsidy in 2019.

George-Ikoli, said the NNPC was a player in the sector, noting that the Petroleum Product Pricing Regulatory Agency (PPPRA) and the Ministry of Petroleum Resources were yet to make pronouncements on the removal.

She said: “We need the regulators to inform us on what the new policy is. The NNPC GMD only spoke in an interview but we need to hear from the regulators and that is what we are waiting for.

“Right now there is no under-recovery which is to be expected because the prices are low right now because of what is happening in the world.

“What is happening to the over-recovery due to the crash and where are the funds going. We need to know these things but there is no clarity at the moment.”

George-Ikoli said the government needed to explain to Nigerians how it arrived at the reductions it made to the pump price of fuel which was currently N123.50 per litre.

“Given the COVID-19 situation, Nigeria does not even have enough funds to continue to subsidise fuel but we need more information,” she added.

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“Nigeria’s Biggest Ever Coalition, Civil Groups, Professionals, Labour, Artisans, Declare for Bola Tinubu”

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In what is being described as an unprecedented political development ahead of the 2027 general elections, a broad-based national coalition cutting across civil society organisations, professional bodies, labour groups, artisan associations, and other grassroots networks has announced plans to formally endorse President Bola Ahmed Tinubu for a second term in office.

The coalition, spearheaded by the Coalition of Civil Society Organisations in Nigeria, COCSON, now extends far beyond the traditional civic space, bringing together over 1,500 groups from diverse sectors of the Nigerian society. Participants include human rights organisations, medical and legal professionals, trade and artisan unions, community-based organisations, and influential labour leaders, reflecting a wide national spread and multi-sectoral backing.

The historic convention is scheduled to hold on May 17, 2026, where leaders and representatives of the various groups are expected to converge in what organisers say will be the largest endorsement gathering in Nigeria’s history. The event will serve as the official platform for the coalition to collectively declare support for President Tinubu’s re-election bid.

In a major demonstration of grassroots mobilisation, the coalition also revealed plans to submit a compiled total of 20 million signatures of Nigerians who have endorsed the President’s candidacy. The signatures, gathered through extensive nationwide engagement, are being positioned as a clear indication of public support cutting across regions, professions, and social strata.

Organisers of the event stated that the decision to back President Tinubu is driven by what they described as tangible strides in economic reforms, governance, and national stability. They emphasised that the inclusion of non-traditional actors such as artisans, market groups, and labour unions underscores a broader national consensus that transcends the usual civil society framework.

Political analysts say the scale and diversity of this coalition mark a significant shift in Nigeria’s political landscape, where support structures are no longer confined to political parties and elite stakeholders but are increasingly driven by a fusion of grassroots and professional constituencies.

As momentum builds towards the May 17 convention, observers are keenly watching how this expansive alliance will shape political narratives and influence voter sentiment in the lead-up to the 2027 elections.

Further details on the convention and breakdown of participating groups are expected to be unveiled in the coming days.

In what is being described as an unprecedented political development ahead of the 2027 general elections, a broad-based national coalition cutting across civil society organisations, professional bodies, labour groups, artisan associations, and other grassroots networks has announced plans to formally endorse President Bola Ahmed Tinubu for a second term in office.

The coalition, spearheaded by the Coalition of Civil Society Organisations in Nigeria, COCSON, now extends far beyond the traditional civic space, bringing together over 1,500 groups from diverse sectors of the Nigerian society. Participants include human rights organisations, medical and legal professionals, trade and artisan unions, community-based organisations, and influential labour leaders, reflecting a wide national spread and multi-sectoral backing.

The historic convention is scheduled to hold on May 17, 2026, where leaders and representatives of the various groups are expected to converge in what organisers say will be the largest endorsement gathering in Nigeria’s history. The event will serve as the official platform for the coalition to collectively declare support for President Tinubu’s re-election bid.

In a major demonstration of grassroots mobilisation, the coalition also revealed plans to submit a compiled total of 20 million signatures of Nigerians who have endorsed the President’s candidacy. The signatures, gathered through extensive nationwide engagement, are being positioned as a clear indication of public support cutting across regions, professions, and social strata.

Organisers of the event stated that the decision to back President Tinubu is driven by what they described as tangible strides in economic reforms, governance, and national stability. They emphasised that the inclusion of non-traditional actors such as artisans, market groups, and labour unions underscores a broader national consensus that transcends the usual civil society framework.

Political analysts say the scale and diversity of this coalition mark a significant shift in Nigeria’s political landscape, where support structures are no longer confined to political parties and elite stakeholders but are increasingly driven by a fusion of grassroots and professional constituencies.

As momentum builds towards the May 17 convention, observers are keenly watching how this expansive alliance will shape political narratives and influence voter sentiment in the lead-up to the 2027 elections.

Further details on the convention and breakdown of participating groups are expected to be unveiled in the coming days.

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How ISWAP killed Army Col. Six others in Borno.

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☆☆☆As Troops Foil Series of Ambushes.

Troops of the Nigerian Army under operation Hadin Kai have foiled a series of ambush by suspected members of the Islamic State West Africa Province (I SWAP) terrorist along the Monguno in Borno state.

Islamic state of West Africa province (ISWAP) have attacked the Nigerian army from Monguno 242 Battion Barrack in Borno State on their way to reinforce the camp.

A serving Nigerian Army Colonel was  reportedly  killed in an ambush by  insurgents in Monguno, Borno State, during a reinforcement mission

Source added said that colonel I.A. Muhammad was ambushed by ISWAP and killed along with four other soldiers.

Community confirmed that the troops who were on a fighting patrol as part of operation,came under fire from suspected terrorists 

As of the time of felling this report, there has been no official statements from the Nigerian Army regarding the accident.

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Dogara Felicitates Dangote at 69, Applauds His Enduring Impact on Africa

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Hon. Yakubu Dogara, former Speaker of the House of Representatives and Chairman of the Credit Guarantee Company Limited (NCGC), has joined Nigerians and the global business community in celebrating Alhaji Aliko Dangote on his 69th birthday. In a detailed tribute, Dogara described Dangote as “a visionary whose life’s work has become a cornerstone of Africa’s economic transformation.”

Dogara emphasized that Dangote’s entrepreneurial journey is one of resilience and foresight. From humble beginnings, he built the Dangote Group into Africa’s largest conglomerate, with investments spanning cement, sugar, salt, fertilizers, and the landmark Dangote Refinery. These ventures, Dogara noted, have not only revolutionized industries but also created millions of jobs, strengthened Nigeria’s economy, and reduced dependence on imports. “Alhaji Dangote is not just an entrepreneur; he is a nation-builder whose vision has redefined what is possible for Nigeria and Africa,” Dogara said.

He pointed out that the Dangote Refinery, in particular, represents a turning point in Nigeria’s energy sector, offering the promise of self-sufficiency in petroleum products and positioning the country as a major player in global energy markets. “This singular achievement underscores his commitment to solving Africa’s most pressing challenges through bold and innovative solutions,” Dogara remarked.

Beyond his industrial empire, Dogara praised Dangote’s philanthropy through the Dangote Foundation, which has invested heavily in healthcare, education, and humanitarian relief. From building hospitals and funding scholarships to providing aid during crises, Dangote’s generosity has touched countless lives across the continent. “His philanthropy reflects a deep commitment to humanity. He has shown that true greatness lies not only in building industries but also in uplifting lives,” Dogara added.

Dogara also reflected on the inspirational power of Dangote’s story, stressing that his rise from modest beginnings to global prominence serves as a beacon of hope for young Africans. “His journey proves that with hard work, faith, and determination, Africans can build enterprises that rival the best in the world. He remains a shining example of African excellence,” he concluded.

As Dangote celebrates his 69th birthday, his legacy continues to resonate far beyond Nigeria’s borders. His life stands as a testament to the transformative power of vision, enterprise, and compassion—an enduring reminder that Africa’s future can be defined by innovation, resilience, and generosity

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