The President Bola Ahmed Tinubu-led administration has released a breakdown of the N15.8 trillion in savings from fuel subsidy removal and gains of other reforms over the last three years.

The Minister of Finance, Taiwo Oyedele, disclosed this on Wednesday, giving a detailed breakdown of the administration’s subsidy removal reforms.

According to Oyedele, the reforms resulted in N15.8 trillion in savings that accrued to the Federation Account.

He noted that the savings from fuel subsidy removal were shared among the Federal Government, states and local governments.

According to him, the Federal Government received N5.43 trillion, while the states received N6.52 trillion and local governments received N3.88 trillion from the fuel subsidy removal savings.

Oyedele explained that the reforms also generated N3.12 trillion in other incremental revenues and N11.85 trillion in incremental borrowing.

As a result, the Federal Government had approximately N20.4 trillion in incremental resources during the period under review.

However, he noted that additional expenditures incurred by the government during the same period amounted to approximately N30.64 trillion.

“The Federal Government had approximately N20.4 trillion in incremental resources.

“Over the same period, additional expenditures amounted to approximately N30.64 trillion. Subsidy removal therefore did not create one large pool of cash available to the Federal Government. It reduced a major fiscal burden and the amount of additional borrowing that would otherwise have been required”, he stated.

He added that of the N30.64 trillion in expenditures, N9.39 trillion was spent on wage adjustments, N9.37 trillion on external debt servicing, N6.47 trillion on infrastructure, and N3.14 trillion on electricity subsidies.

Tinubu had in May and June 2023, announced the removal of fuel subsidy and the liberalisation of the naira, which led to significant increases in fuel prices and fluctuations in the value of the naira.

Scores of security personnel drawn from the Nigerian military, Nigerian police, Nigeria Immigration Service and Vehicle Inspection Officers (VIO) and others are currently on alert at the headquarters of the Ministry of Defence, Abuja.

The heavy deployment, it was learnt, was done ahead of the planned massive protest by the retired military officers over the non-implementation of consequential adjustments to their pensions.

President Bola Tinubu recently approved new salary scale for serving military officers with a view to bolstering their performance across all the theatres of operations in the country.

The increment, which the retired military officers said it shouldn’t have left them out having served the country diligently for 35 years or more, cut across all the ranks in the military.

According to report, a visit to the Ministry of Defence Headquarters on Wednesday morning, shows no fewer than three Armoured Personnel Carriers (APCs) belonging to the military were counted, with about 18 vehicles belonging to the police, Army, Immigration, VIO, NSCDC, FRSC and other security agencies, which were stationed at both ends of the roads and other strategic locations around the protest ground.

Armed soldiers were seen moving around the venue as security operatives took strategic positions along roads leading to the ministry – the development that has already caused gridlock around the area.

Although the planned protest was yet to begin as of when filing this report at about 9:10am, the retired military officers insisted that the protest would go ahead as planned, saying “no going back”.

The report quoted a retired Master Warrant Officer, who didn’t want his name in print, as saying that the Minister was supposed to have met them in order to sort out the issue but the people around him prevented him from doing so.

“Gen. Christopher Musa is a kind man. He is always willing to see to the welfare of both the serving and retired personnel but those around him don’t want him to succeed.

“This protest would go as planned to draw the attention of the world that we also deserve to be treated with fairness, not with impunity. We also deserve what was given to the serving personnel,” the report said.

He maintained that the retirees are protesting the alleged failure of the authorities to implement consequential adjustments to their pensions following salary increases approved for serving military personnel.

One of the leaders of the retirees, Innocent Azubike, a retired Colonel, had said the protest was aimed at demanding what he described as the constitutional pension rights of military retirees.

Azubike said President Bola Tinubu approved a salary increase for military personnel in November 2025, which, according to him, should have resulted in a corresponding adjustment of pensions for retired personnel.

He, however, alleged that the adjustment had yet to be implemented despite repeated acknowledgements by military authorities of the President’s approval.

Azubike said, “We have a protest on Wednesday at the Ministry of Defence to demand our constitutional pension rights.

“In November last year, the President approved a new pay increase for the military, and it came with a consequential adjustment for retirees and pensioners.

“It was in the news throughout that November, and the high military authorities repeatedly thanked the President for the gesture.

“But suddenly, in July and August, it was not implemented and they started changing their stories, as if it should be forgotten.”

Over 20 people have been reportedly killed in Binper community, Bwai District of Mangu Local Government Area of Plateau State following attacks on houses in the area.

The attack happened less than a week after three persons were killed, while Fulani and Mwaghavul communities accused each other of arson.

According to the National President of the Mwaghavul Development Association (MDA), Bulus Dabit, the attackers invaded the community around midnight while victims were asleep.

Report quoted an eyewitness, Daniel Musa, as saying that the heavily armed attackers moved from house to house, forcing their way in and attacking residents in their sleep.

He said: “Our village came under attack last night and in the early hours of today, Tuesday. Heavily armed persons were moving from house to house, opening the doors of people who were sleeping and slaughtering them.

“As of this morning, we have confirmed over 20 deaths, while several others sustained serious injuries and some people are still missing, “ he added.

Security officials had not commented on the incident as of the time of filing this report.