News
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
News
I Am Not Afraid Of Sack- Super Falcons Coach
Super Falcons head coach Justine Madugu says he is not afraid of losing his job despite mounting pressure following Nigeria’s failure to qualify for the 2027 FIFA Women’s World Cup.
Madugu’s future has come under intense scrutiny after the Super Falcons suffered a 2-1 defeat to South Africa in the decisive CAF play-off in Morocco.
The loss ended Nigeria’s remarkable record of qualifying for every edition of the FIFA Women’s World Cup since the tournament began in 1991.
For the first time since 1991, Nigeria will miss the Women’s World Cup.
The pressure on Madugu intensified after the Super Falcons failed to secure automatic World Cup qualification at the WAFCON.
With calls growing for the Nigeria Football Federation (NFF) to make changes to the technical setup, Madugu insists he is prepared to accept whatever decision the football authorities make.
The coach said representing Nigeria has been a privilege and that he has no fear of being relieved of his position.
“I am not afraid of being sacked. To the glory of God, I have served my country. It was a privilege that was given to me,” Madugu said.
He added, “So far, I have played almost 28 games, won 19, lost four and drawn four. But this defeat came at crucial moments that people did not expect.”
News
Gumi Explains Why Funding Mass Marriages Is Government Responsibility
Islamic cleric, Sheikh Ahmad Gumi, says it is the responsibility of the government to use public funds to support marriage arrangements in states operating under Shariah law.
In a post on his Facebook page on Thursday, Gumi argued that governments in Shariah-governed societies have a duty to address social needs arising from the prohibition of sexual relationships outside marriage.
The Islamic scholar noted that government intervention to assist people who cannot afford marriage should be viewed as part of responsible governance, especially where prostitution, fornication, adultery and promiscuity are prohibited by both religious principles and state laws.
According to him, public resources could legitimately be used to support young people in urgent need of marriage, as well as women who face limited opportunities to find suitable spouses.
“In a Shariah law-driven state, where prostitution, fornication, adultery, and promiscuity are prohibited by both divine and state laws, using public funds to facilitate the marriage of women who are in excess of the available pool of eligible men, or of any young person in dire need of marriage, is a legitimate and responsible component of good governance,” he wrote.
News
Tinubu Says Democratic Regime Not Easy To Manage “Full Of Twists And Turns….”
President Bola Tinubu decried the big task of successfully managing a democratic government, highlighting what he described as
It’s twists, turns, hills and valleys, even as the president assured Nigerians that the nation’s refineries will bounce back.
The President also lamented that the expected benefits from the introduction of Compressed Natural Gas (CNG) are going into the pockets of truck owners.
This came as the President of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), Comrade Salimon Akanni Oladiti, pleaded with President Tinubu to help stop the casualisation of workers in the oil industry.
Speaking when he received the NUPENG leadership at the Presidential Villa, Abuja, the President said the union has been a very good partner in government’s progress.
“You occupy a very critical nerve of the economy of this country,” he said.
He recalled the promise he made while seeking the presidency that he would remove the fuel subsidy and the threat by oil and gas workers to down tools. “We had threat of possible strike and something, and I served notice; you may strike all you want, but fuel subsidy will be gone. And today, to the benefit of our great country.”
“I will soon publish how it is being utilized,” he said, adding that workers at local, state and federal levels are reaping the benefits of subsidy removal through prompt payment of salaries, while landmark infrastructural projects are underway across the country.
“Yes, the economy is not child’s play. It’s a system of financial re-engineering and reset that you impress, and I want to thank you for the cooperation, collaboration and understanding.
“But I’m glad you have seen the effect of being able to find funding for long-term projects: Lagos–Ibadan Road, Abuja–Kaduna, Abuja–Kano, Sokoto–Badagry and other highways and road networks. It’s all for the good of our people and our economy.
“Equally, the introduction of compressed natural gas — well, I will appeal to you: we will do more and encourage you, but ask your drivers to let the benefits trickle down to commuters too, because whatever benefit is coming from CNG is going into the pockets of truck owners. It’s not spreading as fast as I would like, but it should spread.
“The refineries you mentioned are going to come back to work. We’re just building a very firm reset and structural reworking of the economics of it. Ordinary flame and smoke from a refinery doesn’t mean that it’s working until it’s profitable and yields the value for which it was built.
“I’m not a man who will look back and blame everyone, because I’ve accepted the assets and liabilities of my predecessors. No matter what happened in the past years, it’s my responsibility now as President to fix it and make it work for the greatest common good of our population. I take responsibility for that, and I’m going to do it.”
He added: “It’s not easy to manage a democratic regime, full of twists and turns, hills and valleys. But through perseverance, endurance and good determination we can bring about relief — like the joy of a newborn baby after a difficult pregnancy. Motherhood is painful, but the joy is everlasting. I promise you, you will enjoy a better Nigeria.”
Speaking earlier, NUPENG president Comrade Oladiti appealed to the President to check the casualisation of workers in the oil industry.
The NUPENG president, who described the trend as unwholesome, expressed concern that efforts to make oil companies, particularly in the upstream sector, stop the practice have been constantly rebuffed.
He said: “Your Excellency, our relationship with the international oil companies and indigenous players in the upstream sector has been very cordial. However, we want to seize this opportunity to bring to your attention an unhealthy trend we have been trying to correct with little to no success. It is the casualisation of workers, particularly in the upstream sector.
“For a sector that is strategic and taken as the economic jugular of the nation, NUPENG and its counterpart PENGASSAN have been tolerating these unwholesome practices, knowing full well the enormous disruption that any industrial action could cause to the economy.
“We also do not want to be seen as hostile to the Minister of Labour, Muhammad Maigari Dingyadi, who has been very supportive and operates an open-door policy in his relationship with our union.
“We have engaged the management of some of the affected companies without results. Mr. President, we urge you to use your good offices to stop the casualisation of workers in our sector.”
While commending the present administration for rehabilitation and dualisation of federal highways — which he noted will ease movement of petroleum trucks — Oladiti also appealed to President Tinubu to see to the resuscitation of the Nigerian Pipelines and Storage Company (NPSC) depots across the country.
He maintained that injecting life into the depots would complement the ongoing efforts to revive the ailing refineries.
He said: “We’ve seen real progress in the rehabilitation of federal highways, making journeys safer for our tanker drivers.
“We also want to commend your administration’s move to revive the Warri and Port Harcourt refineries through partnership with Chinese firms. Your Excellency, we humbly request that the same energy and drive to inject life back into the refineries be extended to the decaying Nigerian Pipelines and Storage Company depots across the country.
“We strongly recommend they be handed over to private investors to manage under an equity arrangement.”
-
Health & Wellness12 months agoPresident Tinubu Directs Cut in Dialysis Cost from ₦50,000 to ₦12,000
-
News1 year agoPICTURE: In Lagos Couple Sentenced to 22½ Years for Cannabis Trafficking
-
Trending News1 year agoNELFUND Disburses ₦86bn To 449,000 Beneficiaries
-
Business5 months agoDangote Refinery Reduces Petrol Gantry Price To ₦1,200 Per Litre
-
Business2 years agoHeritage Bank Customers’ Path to Securing ₦5m Insured Funds: A Step-By-Step Guide by NDIC”
-
International News5 months agoIndian Police Arrest Nigerian Over ₦290m Drug Haul
-
Business5 months agoAfter Plea Bargain, Court Discharges Stella Oduah of ₦2.5bn Fraud
-
Business2 years ago
Dangote; We Did Not Fix ₦600/Litre Petrol Price
