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Fuel subisdy is gone – Tinubu
Nigeria’s new President, Bola Tinubu says the era of subsidy payment on fuel has ended.
Tinubu who made the assertion while delivering his inaugural speech as the 16th President of Nigeria also disclosed that his team will disclose the key aspect of the economic policy for his administration.
The fuel subsidy is gone,” Tinubu declared in his inaugural speech at the Eagle Square on Monday after he was sworn in as Nigeria’s 16th President.
His words: “We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources.
“We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions.”
Tinubu said his government shall instead channel funds into infrastructure and other areas to strengthen the economy, adding that a “unified exchange rate” is guaranteed under his administration.
He also spoke on revamping Nigeria’s economy by ensuring budgetary reforms and promised to make electricity more accessible by encouraging various state governments to participate in power generation.
Furthermore, the former Lagos State governor vowed to rid Nigeria of terrorism and criminality.
“Security shall be top of our administration,” he said, adding that he will reform security architecture, invest more in security personnel, better training and provide better equipment for security personnel.
He added that his government will review various multiple taxations.
BELOW IS THE FULL STATEMENT
President Bola Tinubu
President Bola Tinubu, on Monday, delivered his inaugural address at Eagle Square, Abuja.
The Oath of Office was administered by the Chief Justice of Nigeria, Kayode Ariwoola.
Below is the full text.
My Fellow Citizens,
I stand before you honoured to assume the sacred mandate you have given me. My love for this nation is abiding. My confidence in its people, unwavering. And my faith in God Almighty, absolute. I know that His hand shall provide the needed moral strength and clarity of purpose in those instances when we seem to have reached the limits of our human capacity.
This day is bold and majestic yet bright and full of spirit, as is our precious nation.
As a nation, we have long ago decided to march beyond the dimness of night into the open day of renewed national hope.
The question we now ask ourselves is whether to remain faithful to the work inherent in building a better society or retreat into the shadows of our unmet potential.
For me, there is but one answer. We are too great a nation and too grounded as a people to rob ourselves of our finest destiny.
This nation’s journey has been shaped by the prayers of millions, and the collective sacrifices of us all.
We have endured hardships that would have made other societies crumble.
Yet, we have shouldered the heavy burden to arrive at this SUBLIME moment where the prospect of a better future merges with our improved capacity to create that future.
To the surprise of many but not to ourselves, we have more firmly established this land as a democracy in both word and deed.
The peaceful transition from one government to another is now our political tradition. This handover symbolizes our trust in God, our enduring faith in representative governance and our belief in our ability to reshape this nation into the society it was always meant to be.
Here, permit me to say a few words to my predecessor, President Muhammadu Buhari. Mr President, you have been an honest, patriotic leader who has done his best for the nation you love. On a more personal note, you are a worthy partner and friend. May History be kind to you.
For many years, Nigeria’s critics have trafficked the rumour that our nation will break apart, even perish.
Yet here we are. We have stumbled at times, but our resilience and diversity have kept us going.
Our burdens may make us bend at times, but they shall never break us.
Instead, we stand forth as Africa’s most populous nation and as the best hope and strongest champion of the Black Race.
As citizens, we declare as one unified people devoted to one unified national cause, that as long as this world exists, NIGERIA SHALL EXIST.
Today, Fate and Destiny join together to place the torch of human progress in our very hands. We dare not let it slip.
We lift high this torch so that it might shine on every household and in every heart that calls itself Nigerian. We hold this beam aloft because it lights our path with compassion, brotherhood, and peace. May this great light never EXTINGUISH.
Our administration shall govern on your behalf but never rule over you. We shall consult and dialogue but never dictate. We shall reach out to all but never put down a single person for holding views contrary to our own.
We are here to further mend and heal this nation, not tear and injure it.
In this vein, may I offer a few comments regarding the election that brought us to this juncture. It was a hard-fought contest. And it was also fairly won. Since the advent of the Fourth Republic, Nigeria has not held an election of better quality.
The outcome reflected the will of the people. However, my victory does not render me any more Nigerian than my opponents. Nor does it render them any less patriotic.
They shall forever be my fellow compatriots. And I will treat them as such. They represent important constituencies and concerns that wisdom dare not ignore.
They have taken their concerns to court. Seeking legal redress is their right and I fully defend their exercise of this right. This is the essence of the rule of la
Brazil superstar Neymar was handed a dramatic recall to the country’s World Cup squad on Monday, returning to the national team after a near three-year absence.
The inclusion of Neymar, Brazil’s all-time leading goalscorer with 79 goals in 128 appearances, was the biggest surprise in the 26-man squad named by coach Carlo Ancelotti.
Ancelotti announced Neymar’s selection at a gala ceremony in Rio de Janeiro, with loud cheers ringing out as the veteran attacker’s call-up was confirmed.
Speculation has raged for months over whether the 34-year-old former Barcelona and Paris Saint-Germain attacker would force his way back into the national team set-up.
The forward, a veteran of the 2014, 2018, and 2022 World Cups, had not played for Brazil since suffering a knee injury during a World Cup qualifying game against Uruguay in 2023.
A mixture of injuries and poor form had left him outside the national team setup, with Ancelotti citing concerns over his fitness after leaving him out of Brazil’s squad for March friendlies against France and Croatia.
However, Neymar, who rejoined boyhood club Santos in January after an injury-ravaged stint in Saudi Arabia, has now earned Ancelotti’s stamp of approval for the World Cup in the United States, Canada and Mexico.
Brazil, who are chasing a record sixth World Cup crown, open their World Cup campaign against Morocco on June 13 before playing Haiti and Scotland in Group C.
Brazil World Cup Squad
Goalkeepers: Alisson (Liverpool/ENG), Ederson (Fenerbahce/TUR), Weverton (Gremio/BRA)
Defenders
Alex Sandro (Flamengo/BRA), Danilo (Flamengo/BRA), Leo Pereira (Flamengo/BRA), Bremer (Juventus/ITA), Douglas Santos (Zenit St Petersburg/RUS), Gabriel Magalhães (Arsenal/ENG), Ibanez (Al-Ahli/KSA), Marquinhos (Paris Saint-Germain/FRA), Wesley (Roma/ITA)
Midfielders
Bruno Guimaraes (Newcastle/ENG), Casemiro (Manchester United/ENG), Danilo (Botafogo), Fabinho (Al-Ittihad/KSA), and Lucas Paqueta (Flamengo/BRA).
Forwards
Endrick (Lyon/FRA), Gabriel Martinelli (Arsenal/ENG), Igor Thiago (Brentford/ENG), Luiz Henrique (Zenit/RUS), Matheus Cunha (Manchester United/ENG), Neymar (Santos/BRA), Raphinha (Barcelona/ESP), Rayan (Bournemouth/ENG), Vinicius Junior (Real Madrid/ESP)
AFP
As the deadline of May 20, 2026, fast approaches, Wema Bank has announced the last call for submissions for children and teens interested in participating in becoming MD/CEO of Wema Bank for one day.
Launched in May 2025 as part of Wema Bank’s 80th anniversary celebration, the One-Day MD/CEO initiative was introduced by Wema Bank to commemorate Children’s Day in a uniquely unprecedented manner. Inspired by the Bank’s 80th anniversary theme “80 Years of Impact, A Future of Possibilities”, the Wema Bank One-Day MD/CEO initiative served as a bridge between past and future, giving children across Nigeria the once-in-a-lifetime opportunity to become the MD/CEO of Wema Bank for one day—Children’s Day.
As 12-year-old Chiderije Mbah emerged winner, the Wema Bank One-Day MD/CEO initiative dominated the conversation on May 27, 2025, with children across Nigeria inspired to put in the work towards a successful future and parents commending the Bank’s consistent commitment to empowering children and helping them build the right future. This year, 2026, the Wema Bank One-Day MD/CEO initiative has returned on a larger scale.
For the 2026 Children’s Day celebration, Wema Bank will give another child or teenager [ages 0-16] a chance to step into the shoes of Managing Director/CEO of Wema Bank, for a day. The child will get to oversee board meetings, make tactical decisions, and experience firsthand the demands and responsibilities that come with the office of MD/CEO, especially for an institution like Wema Bank, Nigeria’s oldest indigenous national bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT.
To participate, children/teens are expected to record a 60-second video detailing what their ideal role in banking would be and what they hope to achieve. This video is to be posted on any social media platform using #EvolutionOfPossibilities and tagging @wemabank on the post. The post with the highest number of likes emerges winner and the winner gets to become MD/CEO of Wema Bank on Monday, May 25, 2026, in celebration of Children’s Day.
Both parents and teens are encouraged to hurry and make their submissions now as entry closes in less than two days, specifically on Wednesday, May 20, 2026.
More details on the Bank’s social media platforms @wemabank
The United States Africa Command (AFRICOM) and Nigerian forces have carried out additional airstrikes against Islamic State in northeastern Nigeria.
The attack followed the killing of of ISIS commander Abu-Bilal al-Minuki, who was eliminated alongside some of his men, on Friday.
In a statement, AFRICOM said No U.S. or Nigerian forces were harmed during the strikes.
Commenting on the operation, the Defence Headquarters said more than 20 ISIS/ISWAP fighters were killed.
According to the Director of Defence Information, Major General Samaila Uba, the operation targeted terrorist hideouts in Metele area of northern Borno, a known flashpoint for insurgent attacks.
In a statement, he said the strikes were based on credible intelligence indicating the movement and convergence of terrorist elements in the area.
The Defence Headquarters explained that the latest offensive is part of sustained counterterrorism operations in the North-East, aimed at dismantling insurgent networks and denying them safe havens.
“The ongoing operations follow the neutralisation of ISIS commander Abu-Bilal al-Minuki and are part of sustained efforts to disrupt terrorist networks, remove them from the battlefield and deny the terrorists any safe haven within Nigeria,” the statement read.
The military further reaffirmed its commitment to defending Nigeria’s territorial integrity, stressing that insurgents will continue to face decisive action.
“The Armed Forces of Nigeria will continue to aggressively defend the sovereignty, security and territorial integrity of the nation. Terrorists who threaten our citizens, communities and national stability will be located and defeated. There will be no safe haven for terrorists anywhere in Nigeria,” it added.
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