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Why Atiku’s Subsidy Removal Promise Is Popular- Fayemi.
Former Ekiti State Governor and ex-Minister of Solid Minerals Development, Kayode Fayemi, has described the presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar’s proposal on fuel subsidy as a political strategy similar to the Muslim-Muslim presidential ticket adopted by the All Progressives Congress (APC) in the 2023 election.
Fayemi made the remarks while discussing the ongoing debate over fuel subsidy and Atiku’s position on the issue.
“My take on that is that Atiku’s proposal of subsidy is politically equivalent to our own Muslim-Muslim ticket in 2023. It’s a political strategy. It’s not an economic construct,” Fayemi said.
He, however, acknowledged that the proposal could resonate with Nigerians who have been adversely affected by the removal of petrol subsidy, saying vulnerable citizens were more concerned about their economic wellbeing than the technical arguments surrounding subsidy policy.
“But understandably, it’s a political strategy that will sell with those who are hard done by the impact of fuel subsidy removal,” he said.
Fayemi reiterated his support for the removal of fuel subsidy, saying he had advocated the policy for years, including during his tenure as chairman of the Nigerian Governors’ Forum.
“I was and I remain an advocate of fuel subsidy removal. As chairman of the governors’ forum, I spent four years in this battle,” he said.
He also said President Bola Tinubu inherited work that had already been substantially completed by the previous administration regarding subsidy removal, although he criticised the manner in which the policy was implemented.
“What President Tinubu inherited, in fairness to him, was the work that had already been completed by that administration. The only challenge I had with it was the way it was done,” Fayemi said.
According to him, state governors had previously worked with the Federal Government and the World Bank to develop a safety-net strategy aimed at cushioning the impact of subsidy removal on vulnerable Nigerians.
“However, as I have also consistently said, because at the Nigerian Governors Forum, we actually had a committee work with the federal government and the World Bank, by the way, to develop a safety net strategy that would address what would happen to the most vulnerable segment of our population,” he said.
Fayemi said the hardship being experienced by vulnerable Nigerians was what he believed Atiku was seeking to leverage politically with his subsidy proposal.
“I believe that’s what Vice President Atiku is taking advantage of. The vulnerable segment of the population is still hard done by,” he said.
He added that many Nigerians were less concerned about the technical details of subsidy removal than their ability to afford basic necessities.
“They just want to live reasonably well, eke out a living, have one or two meals a day, be able to send their kids to school, not be taken in by sickness or anything that might create further problems for them,” Fayemi said.
He further linked poverty and inequality to insecurity, saying they were “also at the root of the insurgency and the banditry that we’re dealing with.”
Fayemi concluded that, just as the APC’s Muslim-Muslim ticket was a political strategy aimed at maximising electoral support in 2023, Atiku was similarly seeking to benefit from public dissatisfaction over the effects of subsidy removal ahead of the 2027 election.
The Lagos State environmental enforcement unit, Taskforce on Wednesday busted hideouts in Obalende, Marina and other parts of Lagos Island and arrested suspected criminals.
The agency said it undertook the enforcement operation to ensure compliance with the provisions of the Lagos State Environmental Protection Law of 2017.
The exercise, which commenced in the early hours of the day, was led by the Chairman of the agency, Adetayo Akerele, who supervised operations across identified blackspots with a history of environmental and criminal violations.
At Obalende, the Chairman commended the natives and the residents for their surveillance and taking responsibility in encouraging sustained participation to drive away men of the underworld from the areas.
During the enforcement exercise,Taskforce operatives arrested over 30 suspected miscreants, drug peddlers, Omotaku and other street urchins around Marina and Obalende for disturbing public peace and attempting to perpetrate criminal activities. Some of the suspects were also implicated in acts posing threats to public infrastructure, including billboards and road signage. Several narcotics like India hemp, Marijuana , Codeine, Colorado, Shase etc were found on them. All the suspects will be charged to court accordingly.
Akerele emphasized that active citizen participation, alongside consistent enforcement operations by Taskforce operatives and other relevant agencies, remains critical to achieving lasting environmental sanity across the State.
The Chairman reiterated that Criminals and environmental laws violators will be prosecuted in accordance with the Lagos State Environmental Protection Law of 2017.
The Chairman urged everyone to actively participate in determining the security architecture of their areas and desist from engaging in street violence,harbouring or keeping some disgruntled elements as friends who have nothing positive to offer or contribute to the development of their areas.
The Nigerian National Petroleum Company (NNPC) Limited says it spent N11.2 trillion in 2025 to protect oil assets on behalf of the federal government.
The cost is reflected in the company’s 2025 audited financial report, seen by TheCable on Wednesday, as “other receivables from federation” relating to “advance payments to the federation and costs incurred to secure the country’s oil and gas assets”.
Receivables are amounts owed to a company by customers or the government for goods or services delivered on credit.
This, the NNPC said, is under an approved framework “between the federal government and the group”.
This means that the federal government is expected to refund the NNPC the money the oil firm spent protecting oil assets.
According to the document, the framework allows the NNPC to incur security costs to protect the country’s oil and gas assets and recover the expenses to the federation as energy security costs.
The NNPC also said no “energy security expense”, commonly known as petrol subsidy, “was recognised” during the year, compared with N7.13 trillion incurred in the previous year.
The report, however, showed that the company incurred a defrayed energy security cost of N8.9 trillion, which was carried over from 2024.
“Following a reconciliation exercise with relevant government agencies, the Energy Security cost receivables was netted off against royalties, tax, and dividends due as at December 2024. The reconciliation exercise was recorded in September 2025,” NNPC added.
According to the report, the oil company generated N34.52 trillion in revenue from “contracts with customers” in 2025, covering crude oil, petroleum products, natural gas, power, and services.
The NNPC reported a N25.39 trillion in revenue from crude oil sale in 2025, down from N29.2 trillion recorded from the revenue stream in 2024.
The oil firm also earned N2.1 trillion from petroleum product sale, compared with N9.68 trillion in 2024.
The NNPC said revenue from petroleum products came from the sale of petrol, dual-purpose kerosene (DPK), automotive gasoline oil (AGO), naphtha, lubricants, and other related products.
The report also showed that natural gas revenue rose to N6.15 trillion in 2025, from N5.2 trillion in the preceding year.
Power revenue from the sale of electricity to the Nigeria Bulk Electricity Trading (NBET) increased to N11.8 billion in 2025, from the N9.4 million recorded during the previous year.
Revenue from services, including seismic and time-based contracts, marine operations, engineering services and gas transmission tariffs, fell to N729.33 billion during the review period, from N980.45 billion in the previous year.
The report further showed that the NNPC paid N499 billion in gas flare penalties and fees in 2025.
According to the company, gas flare fees relate to statutory flare charges based on limits approved by the NUPRC in line with section 104 of the PIA, while gas flare penalties are charges for flares above regulatory limits.
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has called on Nigerians to embrace zero tolerance for corruption, saying accountable conduct is essential to sustaining the country’s ongoing reforms.
Olukoyede made the call in his Independence Day message to Nigerians on Thursday, as the country marked its 66th anniversary of independence.
He said the reforms and efforts aimed at strengthening the country’s institutions and economy were “building blocks of the greater nation we desire”, urging citizens to complement such initiatives by rejecting corrupt practices.
“At 66, Nigeria has come a long way. Independence has offered us liberty and self-determination. We are also making considerable progress in nation building.
“All these efforts are significant. They are the building blocks of the greater nation we desire. Let’s therefore couple all our reform-focused initiatives with zero tolerance for corruption,” he said.
The EFCC chairman stressed that corruption could undermine the gains of ongoing reforms if citizens and institutions failed to uphold accountability.
“We cannot be building and allow corrupt practices to vitiate our efforts.
“Progress only comes with purposeful rejection of compromises. Nigeria will surely get better!” Olukoyede said.
He expressed optimism about Nigeria’s future, while urging Nigerians to reject corruption in all its forms and support efforts aimed at strengthening the country’s development.
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