NEWS
Fuel Subsidy Removal Was Nigeria’s Decision Alone – IMF Clarifies
Amid allegations of external influence, the International Monetary Fund (IMF) has clarified that Nigeria’s recent removal of its fuel subsidy was a decision made independently by the Nigerian government.
IMF’s African Region Director, Abebe Selassie, addressed the issue on Friday at the IMF and World Bank Annual Meetings, emphasizing the organization’s limited role in Nigeria’s policy changes.
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“The decision was a domestic one,” Selassie stated, refuting suggestions that the IMF influenced the move.
“We don’t have programs in Nigeria. Our role is limited to regular dialogue, as we have with other nations like Japan or the UK.”
Recall that President Bola Tinubu had announced the removal of the fuel subsidy during his inauguration in May 2023, stating, “subsidy is gone.”
This decision quickly drove up fuel prices from approximately ₦200 per litre to around ₦1,200 in some areas, triggering a wave of inflation across essential goods and services.
In a parallel policy shift, Tinubu’s administration floated the naira as part of a broader strategy to stabilize the currency and attract foreign investment.
However, these economic reforms have had mixed results: inflation has surged to 32.72 percent, pushing essential commodities beyond the reach of many Nigerians.
President Tinubu has continued to stand by these reforms, urging patience from citizens as the government pursues longer-term economic benefits.
In the meantime, his administration has introduced interim support measures aimed at mitigating the impact on vulnerable groups.
Director Selassie expressed the IMF’s support for Nigeria’s reform path but highlighted the need for enhanced social protection measures to assist those most affected by the changes.
“We recognize the significant social costs involved,” he said, adding that the government could expand social protections to cushion the most vulnerable.
The IMF’s remarks highlight a complex moment for Nigeria’s economy, with the government balancing ambitious reform efforts against the immediate needs of its citizens.
NEWS
NECO Expands Global Footprints, Accredits Niger, Equatorial Guinea Schools
In a bid to increase its global presence, the National Examination Council (NECO) has accredited more foreign schools.
This was contained in a statement issued under the signature of its Acting Director of Public Relations, Azeez Sanni, on Saturday.
He revealed that the accredited schools are in Niger Republic and Equatorial Guinea.
Recall that last year, the examination body accredited some centres in Niger Republic to enable Nigerian students in the Francophone country to sit for the examinations.
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The statement read, “Determined to broaden its horizon and expand its global presence, the National Examinations Council has accredited more foreign schools to write the Senior School Certificate Examination and the Basic Education Certificate Examination.
“The newly accredited schools, in addition to the existing ones, are in Niger Republic and Equatorial Guinea.
“NECO accreditation team visited the Schools to assess their readiness to write the SSCE and BECE.
“The accreditation 5eam inspected classrooms, laboratories, libraries, computer laboratories, workshops, examination halls and sports facilities to determine their adequacy and suitability for NECO examinations.
“After a thorough evaluation and comprehensive assessment, the schools were granted full SSCE and full BECE accreditation status.”
NEWS
Ex-UN Envoy Warns Of New Cold War Threatening Africa’s Unity
Renowned diplomat and former United Nations Under-Secretary-General, Ibrahim Gambari, has raised alarms over the looming threat of a new Cold War that could fracture Africa along geopolitical lines.
Speaking at the Realnews Magazine Annual Lecture in Lagos, Gambari urged African leaders to urgently reposition the continent amidst intensifying global power struggles.
The lecture, themed “Africa in World Shifting Geopolitics: Matters Arising on Demography, Technology, Artificial Intelligence, Natural Resources,” explored Africa’s strategic role in a rapidly evolving international system.
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Gambari cautioned that without proactive measures, Africa risks being sidelined or exploited in the unfolding global order.
Africa: Battleground in a New Power Struggle
Describing the increasing militarisation by major global powers, Gambari painted a picture of fierce competition for control over Africa’s resources and strategic locations.
He noted that the proliferation of foreign military bases across the continent is evidence of this struggle.
“A relentless militarisation is taking place across the world—from the Atlantic to the Pacific, the Arctic to the Antarctic,” Gambari said. “Rich in natural resources and strategically located, Africa has become a key battleground in this global power struggle.”
He cited Djibouti as a stark example of Africa’s strategic importance.
The country, located near the Red Sea, hosts both the United States’ only permanent base on the continent, Camp Lemonnier, and China’s first overseas military installation.
Gambari warned that the presence of such bases represents more than security interests, suggesting echoes of colonial ambitions aimed at controlling Africa’s wealth and arable land.
“The seaboard of Africa is already dotted with military bases operated by various powers,” Gambari observed. “The continent is once again at the center of a scramble as the new Cold War intensifies.”
The Return of Zero-Sum Geopolitics
Gambari also highlighted the resurgence of zero-sum geopolitics, where nations compete for influence at the expense of others.
He noted that China and Russia are emerging as dominant players in Africa, with China leveraging infrastructure projects and debt relief, while Russia offers weapons and military support.
“These actions signal a destabilising competition for influence,” Gambari said, adding that traditional powers like France, Germany, India, and the UK are also expanding their presence on the continent.
“The age of zero-sum geopolitics is back, with all its destabilising consequences for African countries,” he said.
Unlocking Africa’s Potential Amid Challenges
Despite the geopolitical rivalry, Gambari emphasized that Africa’s youthful and growing population provides a significant opportunity for the continent to assert its influence globally.
He urged African leaders to invest in education, innovation, and youth-driven initiatives to harness this demographic dividend.
“With well over a billion people and an overwhelmingly youthful population, the African continent is destined for a significant role in the demographics of the world,” Gambari said.
“But we must build national and regional strategies to leverage the energy, innovative acumen, and futuristic vision of our young people.”
Gambari warned that without these strategies, Africa’s demographic advantage could remain underutilised.
He also called for the continent to be proactive in shaping the rules of the emerging global order, rather than being passive participants.
“We cannot afford to sit on the sidelines while the rules of a new world order are being written,” Gambari said.
“We must insist on being joint rule-makers, ensuring the new global order reflects our values and aspirations for a fairer, more inclusive, and equitable world.”
A Call to Action
Gambari concluded with a rallying cry for African leaders to harness the continent’s abundant resources and human capital.
He said Africa must use its demographic and strategic advantages to achieve the structural transformation that has long eluded it.
He said, “We must be ready to harness our abundant human and natural resources to leapfrog our development. Although the outcomes of ongoing geopolitical shifts are uncertain, they need not come at the expense of our people and our continent.”
Gambari stressed the need for bold leadership, warning that Africa cannot afford complacency. “Our youth bulge must become an advantage that places us at the forefront of the digital economy and its innovations,” he said.
NEWS
Relatives Of Renowned Journalist Abducted In Kogi, N50m Ransom Demanded
Three relatives of Malam Ahmed Ajobe, a former Editor of Daily Trust, were abducted by gunmen on Thursday evening along the Ankpa-Adoka-Makurdi road in Kogi State.
The victims, identified as a male and two females, include Ajobe’s immediate younger sister, Halimtu-Sadiya Tahir.
The family members were returning from a market in Awo, Ankpa Local Government Area, where they had gone to purchase items for the seventh-day prayers of Ajobe’s late mother, Malama Aishetu Tahir.
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The matriarch passed away on Sunday after a protracted illness.
The abduction occurred around 3 p.m. on the deplorable Ankpa-Adoka-Makurdi road, a known hotspot for criminal activities.
According to a family source, the kidnappers contacted the family on Friday and demanded a ransom of N50 million for the release of the victims.
A close family friend, who spoke on the condition of anonymity, said: “Yes, three of Ajobe’s family members were kidnapped at gunpoint at about 3 p.m. on Thursday.
The kidnappers reached out on Friday afternoon demanding for N50 million as ransom.
However, I can’t confirm what the family is offering in the negotiations because I had to leave the community for an emergency in Lokoja. What I can say is that no amount has been paid yet, and the victims are still in captivity.”
The Kogi State Police Command has confirmed the incident and assured the public that efforts are underway to rescue the victims.
The Police Public Relations Officer (PPRO), William Aya, disclosed that the Divisional Police Officer (DPO) in charge of the area has deployed officers to track the assailants.
“The Commissioner of Police, Bethrand Onuoha, has ordered the drafting of a tactical team to reinforce the local police. We are doing everything possible to ensure the safe release of the victims and to bring the perpetrators to justice,” Aya said.
The Ankpa-Adoka-Makurdi road has long been a source of concern for residents, who have repeatedly called for improved security and road infrastructure.
Negotiations between the family and the kidnappers are ongoing, but as of press time, the victims remain in captivity.