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Subsidy Return Will Reverse Economic Gains – Minister

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The Minister of Information and National Orientation, Mohammed Idris, has cautioned against calls to restore the petrol subsidy.

 

He said a return to the old regime would undermine Nigeria’s improving fiscal position, weaken investor confidence, and reverse gains from the economic reforms of the President Bola Tinubu’s administration.

According to a statement issued by his Media Aide, Rabiu Ibrahim, in Abuja on Monday, the minister stated this in an Op-Ed published on Monday in some national dailies, titled “Restoring Fuel Subsidy Will Reverse Nigeria’s Economic Gains.”

He outlined the fiscal benefits of subsidy removal, the economic risks averted, and the difficult trade-offs that would confront the country should petrol subsidy be reintroduced.

“Restoring subsidy would almost instantly return Nigeria to the economic conditions of 2022, recreating the same fiscal pressures, distortions, scarcity and incentives for arbitrage that made the old system unsustainable,” Idris said.

Idris said proponents of subsidy restoration must confront its real opportunity costs.

“Do we restore petrol subsidy, or sustain student loans and consumer credit for young Nigerians? Do we restore subsidy, or preserve higher allocations to states and local governments? Do we restore subsidy, or continue funding roads, rail, power and security?

“Do we restore subsidy, or strengthen the fiscal capacity required to expand healthcare, education and social protection for vulnerable Nigerians?” he asked.

The minister recalled that in 2022, amid declining oil production and weak revenues, Nigeria spent about $10 billion on fuel subsidies, while the World Bank warned that the subsidy was consuming resources that could otherwise have supported education, healthcare, infrastructure and social protection.

Citing the Federal Government’s recently presented “Nigeria’s Reform Scorecard: The Benefits, Costs and Harms Prevented,” Idris said the Minister of Finance and Coordinating Minister of the Economy, Dr Taiwo Oyedele, disclosed that subsidy savings mobilised N15.8 trillion in resources for the Federation between June 2023 and December 2025.

He explained that approximately ₦5.43 trillion accrued to the Federal Government, N6.52 trillion to states and N3.88 trillion to local governments, clarifying that the N15.8 trillion was not a separate pool of cash but resources released within the Federation’s wider fiscal system.

According to Idris, the increased fiscal space has strengthened the capacity of states and local governments to meet salary and pension obligations and invest in essential services, while supporting major federal investments in infrastructure, security, agriculture and human capital.

He said, “The Reform Scorecard recorded approximately N6.47 trillion in additional expenditure on strategic infrastructure, alongside more than N400 billion committed to major social investment initiatives, including NELFUND, MOFI Real Estate Investment Fund, MREIF and CREDICORP.

“In contrast, social transfers have reached more than 10 million Nigerian households.”

Idris added that Nigeria was already carrying an electricity subsidy estimated at N3.14 trillion between June 2023 and December 2025, warning that reintroducing petrol subsidy would impose an additional burden on public finances.

He noted that the Organised Private Sector and the wider economic community had also cautioned against reversing the reform.

“Nigeria cannot build tomorrow’s economy by returning to yesterday’s unsustainable subsidy regime. We have moved beyond that model,” he said.

He urged Nigerians to view the reforms in the context of the country’s long-term economic stability and the need to build a stronger and more productive economy.

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Court Arraigns Journalist In Benue

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A Benue State High Court, presided over by Justice Mary Abounu, has arraigned the Benue State correspondent of Aljazirah Newspaper, Henry Ibya, in Makurdi over alleged cyberstang.

 

The trial judge had sought the prosecution’s response to the defendant’s argument that the journalist was reliable and should be granted bail.

The absence of the prosecution counsel in court did not stop the proceedings, as the defendant’s counsel, Tom Uja, Esq., notified the court of his bail application for his client.

He stated that the prosecution had taken the journalist to two other courts in the state on the same charge and that his client had never failed to appear in court whenever required.

Although the prosecutor’s absence did not affect the judge’s decision to proceed and grant bail, which was also believed to be in the interest of justice, the matter was adjourned until November 5, 2026.

One Terna Abuul, said to be the Director of ICT at Rev. Fr. Moses Orshio Adasu University, Makurdi, reported Henry Ibya to the Nigeria Police Force, Benue State Command.

The director had accused the journalist of allegedly reporting mismanagement in the institution’s ICT department.

According to Abuul, Ibya’s report accused him of wrongdoing.

On the strength of the said report, the journalist was arraigned before the High Court in Makurdi.

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64 Dead, 80 Injured As Two High-Speed Trains Collide

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At least 64 people have been killed and dozens seriously injured after two high-speed trains collided near Urda, south of Madrid, in one of Spain’s deadliest rail disasters in more than a decade.

 

The Castilla-La Mancha regional government confirmed the death toll as emergency crews continued rescue operations at the crash site. More than 500 passengers were travelling on the two trains involved, according to a regional government spokesperson.

The BBC reports that the collision of the two trains involved a Renfe high-speed train and an Iryo service operating on the Madrid-to-Seville route. Aerial images analysed by the broadcaster showed parts of the Renfe train leaving the tracks, while carriages of the Iryo train also derailed.

The cause of the collision had not been officially confirmed. However, Spanish media cited preliminary accounts suggesting that the Renfe train struck the Iryo service, which may have been stationary following a problem on the tracks.

The scale of the disaster prompted a major emergency response involving ambulances, helicopters, rescue teams and police officers. At least 80 people were reported injured, with about 50 believed to be in serious condition and 15 in critical condition, according to regional officials.

Several victims were transported to hospitals in nearby areas, while others were taken to Madrid for treatment. Hospitals in Toledo, Ciudad Real and Alcázar de San Juan reportedly suspended planned surgeries to accommodate casualties from the crash.

Blood transfusion centres in Madrid and Toledo also appealed for urgent donations to meet a possible surge in demand.

Survivors described scenes of panic and severe destruction. One passenger, Sebastián Herrero, told Spanish newspaper El Mundo that he felt a powerful impact that threw him into the seats ahead. He said injured passengers had broken noses and arms, while smoke spread through the carriages.

Another passenger, Iñaki, told El País that the impact sent him rolling across the floor. After escaping, he saw injured people and bodies around the wreckage.

BBC Verify also examined images and videos appearing to show a section of railway track piercing through a Renfe carriage, with approximately 10 metres of rail protruding through its roof.

The disaster has revived concerns about railway safety in Spain, which suffered another deadly high-speed rail accident near Córdoba in which 46 people died. The country’s previous worst rail disaster occurred in July 2013, when 80 people were killed in a derailment near Santiago de Compostela.

Spain’s Prime Minister, Pedro Sánchez, said he was shocked by the crash and remained in contact with the transport minister. The Spanish royal family also expressed condolences to victims’ relatives and praised emergency workers.

Meanwhile, the Royal Spanish Football Federation postponed 24 Copa del Rey matches in solidarity with the victims, while most political parties suspended campaign activities.

Rescue and recovery operations continued as authorities worked to establish the full circumstances surrounding the collision.

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Police Arrest Suspected Eiye Cultist, Recover Two Pistols, Cartridges In Ogun

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Operatives of the Special Weapons and Tactics (SWAT) Squad of the Ogun State Police Command have arrested a 26-year-old suspected cultist and recovered two locally made pistols, three live cartridges and a battle axe in the Atan area of Ado-Odo/Ota Local Council of the state.

 

The suspect, identified as Okiki Muhammed Adewusi, popularly known as “Baba Obo”, was arrested in the Ore area of Atan on October 26, 2026, following intelligence received by operatives of SWAT Base 7, Abule Iroko, Sango-Ota.

The Police Spokesperson, Oluseyi Babaseyi, confirmed the arrest in a statement in Abeokuta yesterday.

According to Babaseyi, a search of the suspect’s residence after his arrest led to the recovery of a locally made pistol and three live cartridges.

He added that preliminary investigations indicated that the suspect had allegedly admitted to being a member of the Eiye Confraternity.

Babaseyi said information obtained from the suspect led to a follow-up operation at about 6.30 a.m. on October 27, 2026 during which operatives recovered a second locally made pistol and a battle axe from a separate location.

The recovered items have been secured as exhibits, while efforts are ongoing to arrest other suspects believed to be involved in the activities and recover additional weapons.

The police spokesperson said investigations were ongoing to establish the full circumstances of the case.

The Commissioner of Police, Bode Ojajuni, commended the SWAT operatives for their vigilance, professionalism and effective use of intelligence.

Ojajuni reaffirmed the Command’s commitment to dismantling criminal networks, curbing cult-related activities and tackling the illegal possession of firearms across the state.

He urged residents to provide timely and credible information about suspected criminal activities, assuring them that the Command would act on actionable intelligence to protect lives and property and maintain public safety.

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