NEWS
Okonjo-Iweala Narrates Encounter With Ruthless Fuel Subsidy Cabal
This isn’t the first time the idea of petrol subsidy removal would be mooted. The Jonathan administration under which the incumbent Director General of the World Trade Organization, WTO, Dr Ngozi Okonjo-Iweala, served as Minister of Finance and Coordinating Minister of the Economy also had its fair share of mention in the saga.
In fact, former President Jonathan said at that time severally that fuel subsidy was unsustainable and tried unsuccessfully to remove it.
In a video that went viral last week, Okonjo-Iweala is seen narrating how she spearheaded efforts to scrap payment of questionable subsidies and how beneficiaries viciously fought back, culminating in her mother’s kidnapping and demand for her resignation.
She narrates in the video: “My second example has to do with a very specific one in my country, the clean-up of the fuel scarcity regime in 2012 during my second stay as Finance Minister.
“Nigeria has a physically challenging force of fuel regime, the country exports crude oil and imports fuel because their refineries are in a very bad shape and provides a subsidy for the refined oil as support.
“At the end of 2011, a total of N1.73tr, US $11b equivalent, was submitted as claims for subsidy by 143 marketers, who were importing the product.
“These numbers seemed horrendously large compared to what I had last when I was in government in 2006, which was close to $2b in subsidy.
“So, we decided to study these claims. We audited about $8.4b worth of claims and we found out $2.5b worth of fraud. That is, many of these marketers were trying to claim $2.5b fraudulently.
“With the full backing of the President and the Economic Team, we decided that we were not going to entertain these claims or to pay.
“The pressure from affected marketers was tremendous…not only to say we would not pay but also to say we would clean up the whole mechanism for the subsidy claims and put in place something more transparent, something clearer.
“This did not go down well with them. When we insisted on our position of non-payment and implementation of the new verification regime, these, and well-connected interests, were angered, and came to blame me personally for this.
“There were personal consequences. My 83-year-old mother, a retired professor of sociology, was kidnapped by four young men and held for five days.
“She was totally terrified. She asked them why she had been kidnapped and they told her ‘Because your daughter, the Finance Minister, refused to pay oil marketers their dues’.
“The kidnappers, negotiating with my brother, demanded my resignation, publicly; that I should go on television, publicly and announce my resignation and depart from the country as a condition for my mother’s release.
“Needless to say these were some of the worst days of my life. Imagine when you are in a position, you want your parents, all of whom are here with you today, and your relatives to be proud of you. You want to be a source of good for your family.
“You can imagine how I felt, sitting there and thinking, just because of trying to do something right. To implement a policy that was good for the country, to lead to the taking of my mother’s life. These were some of the worst days of my life.
“With my father’s support and the firm resolve of the President, we all decided I should not give in to the blackmailers and I refused to resign.
“Following a manhunt for my mother by security agencies, she was able to make a dramatic escape after five days in captivity, where she was only given water and half of a sausage roll.
“So, here with the well-justified clean up and reform of a policy, but implemented in a dangerous reform environment where the losers in the reform, where the entrenched vested interests decided to fight back to derail implementation.
“The decision not to resign was a very difficult and risky one but, as it turned out, it worked.
“But on my down days, I ask myself, what if it hadn’t? What if they had gone ahead and murdered my mother, as she overheard them planning to do with one of the handlers on the phone? Could I have justified trading firmness on policy and standing up to blackmailers, implementing a good policy for my mother’s life? What decision would you have made?”
The newly redeployed State Commandant of the Nigeria Security and Civil Defence Corps (NSCDC), Niger State Command, Commandant Abdulhamid Salisu Kabara, has assumed duty and taken over the leadership of the command.
Kabara took over from Commandant Suberu Siyaka Aniviye, who was suspended following the deaths of 37 persons arrested in connection with suspected illegal mining activities in the state.
ALSO READ: How Can 37 Suspected Illegal Miners Die in Gov’t Custody? Nigerians Demand Answers
The development was contained in a statement signed by the NSCDC Niger State Command spokesperson, DSC Abubakar Rabiu Muti on Saturday.
According to the statement, Kabara’s assumption of office comes at a particularly sensitive period for the command following the deaths of the 37 persons in custody.
The new commandant expressed deep sadness over the loss of lives and extended his heartfelt sympathy to the families of the deceased and everyone affected by the incident.
Kabara stressed that while the NSCDC remains committed to its statutory responsibilities, including arrest, investigation, enforcement and the fight against illegal mining, the sanctity of human life must remain paramount.
President Bola Ahmed Tinubu has directed state governments and stakeholders in the transport sector to intensify efforts to ensure lower transportation fares for Nigerians from October 1, 2026.
The President’s directive was contained in a statement issued on Saturday by his Special Adviser on Information and Strategy, Bayo Onanuga, on the National Affordable CNG Transit Programme.
Tinubu said he met with the governors of the 36 states on August 27, where they agreed on the objective of ensuring that more Nigerians begin to see measurable reductions in transportation costs from October 1.
SEE ALSO: ‘Calling Tinubu Bola, Giving Him Orders Is Insolence’ — Sunday Dare Blasts Atiku
Following the meeting, an implementation committee was established under the auspices of the Nigeria Governors’ Forum and chaired by Kwara State Governor, AbdulRahman AbdulRazaq.
The President said the committee, PI-CNG and EV, state governments and other stakeholders were already working to identify priority transport corridors, determine appropriate interventions and put the necessary arrangements in place.
He said the ongoing global energy crisis had made the initiative more urgent, adding that several states had already demonstrated how cheaper energy could translate into lower transportation costs.
In Borno, Tinubu said CNG-powered and electric public transport services were moving commuters for between ₦50 and ₦100 on routes where commercial operators charge between ₦300 and ₦600.
He said Kaduna’s 100 CNG-powered buses provided free transportation on major routes and carried about 3.2 million passengers in their first year, saving commuters more than ₦3.5 billion in transport costs.
According to the President, CNG buses deployed to Pacesetter Transport in Oyo State reduced the Lagos–Ibadan fare from about ₦8,000 to ₦3,200 during the initial deployment.
He added that alternative-energy transit services in Adamawa had cut fares by as much as 50 per cent, from ₦8,000 to ₦4,000.
In Enugu, Tinubu said the deployment of 100 CNG buses reduced the Enugu–Nsukka fare from ₦2,500 to ₦1,500.
He also disclosed that government-supported buses in Plateau transport about 13,000 commuters daily at ₦200, compared with more than ₦500 charged by commercial operators.
Through the Federal Government’s partnership with the National Union of Road Transport Workers, passengers using CNG-converted commercial vehicles on several Abuja routes are also benefiting from a 40 per cent fare reduction.
Tinubu cited the Area 1–Gwagwalada route, where fares have dropped from ₦1,500 to ₦900, while fares from Nyanya have fallen from ₦700 to ₦420 and Wuse from ₦400 to ₦240.
In Niger State, passengers on the Suleja–Abuja route now pay ₦550 compared with about ₦800, while Abia State has deployed 40 electric buses with fares subsidised by 50 per cent.
“These are not projections. Nigerians are already experiencing these savings,” Tinubu said.
The President said disruptions to global energy supplies were putting pressure on petrol and diesel prices and increasing transportation costs worldwide.
He noted that while Nigeria could not control developments in global energy markets, its natural gas resources could help reduce the country’s exposure to such shocks.
Tinubu said his administration had, over the past three years, invested in developing a CNG transportation ecosystem across the country.
According to him, more than 120,000 vehicles have been converted to CNG, while the country now has over 400 certified conversion centres and more than 90 CNG refuelling stations.
The President also rejected calls for a return to the petrol subsidy regime, saying the policy had consumed trillions of naira and left the economy exposed to movements in international oil prices.
He instead urged states to accelerate the adoption of cheaper energy alternatives.
Tinubu said Edo currently has 50 CNG buses in active service, while Kano has converted more than 1,000 commercial vehicles and is expanding its conversion and refuelling network.
He added that Delta, Kwara and Lagos were expanding CNG-supported transport services, while Akwa Ibom had taken delivery of 50 CNG buses ahead of commercial operations.
The President urged all states to maintain momentum towards October 1 by working with transport unions and commercial operators, supporting vehicle conversion and fleet deployment, and facilitating the infrastructure required.
“Above all, ensure that savings from cheaper energy reach Nigerian citizens through lower fares,” Tinubu said.
He assured that the Federal Government would continue to support the expansion of CNG infrastructure and conversion capacity while creating an enabling environment for states, transport operators, manufacturers and private investors.
“Nigeria has the gas. We are building the infrastructure. We are already seeing the savings,” Tinubu said.
“Now we must move faster and scale this so more Nigerians feel those savings in the fares they pay every day.”
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has clarified that it does not determine or fix the pump prices of Premium Motor Spirit (PMS), commonly known as petrol.
The Authority made this known in a statement on Saturday amid concerns over the recent increase in petrol prices and the financial pressure it has placed on households, transport workers and businesses across the country.
The NMDPRA said it was “fully sensitive” to the difficulties being experienced by Nigerians, adding that it remained committed to seeing relief as market conditions stabilise.
SEE ALSO: Spike in Petrol Price Moves NLC to Demands Emergency Palliatives
According to the regulator, the Petroleum Industry Act (PIA) 2021 provides the legal framework for petrol pricing.
It said Section 205(1) of the Act stipulates that wholesale and retail prices of petroleum products shall be based on unrestricted free-market pricing conditions.
The Authority therefore stated that it does not fix pump prices or issue administrative price templates.
It explained that government intervention in petroleum pricing under Sections 205(2)–(4) of the PIA is restricted to exceptional circumstances where there is formal evidence of a declared market failure.
The NMDPRA noted that no such market failure has been declared.
It, however, said Section 216 of the PIA empowers the Authority to prevent anti-competitive practices, price-fixing and abuse of market dominance.
Border Surveillance
The regulator also disclosed that it is working with the Nigeria Customs Service and other relevant security agencies to intensify surveillance along border corridors.
According to the Authority, the move is aimed at curbing the illegal cross-border diversion and smuggling of petroleum products and supporting supply stability.
Consumer Protection
The NMDPRA stressed that deregulation does not exempt petroleum operators from regulatory compliance or fair-trade standards.
It said it was collaborating with the Federal Competition and Consumer Protection Commission (FCCPC) under an existing Memorandum of Understanding to monitor the market for price-gouging, collusion, under-dispensing and compromised product quality.
The Authority further announced plans to open dedicated feedback and reporting channels for members of the public and industry stakeholders to report irregular pricing and exploitative trade practices.
It said such reports would be subjected to regulatory investigation and enforcement where necessary.
The NMDPRA reaffirmed its commitment to ensuring energy security, promoting fair competition and protecting consumers within the legal framework established by the Petroleum Industry Act.
Dangote IPO Will Spread Wealth Across Nigeria – Emir Sanusi
Abdulhamid Kabara Takes Over as New NSCDC Niger Commandant
Tinubu Sets October 1 Deadline for Lower Transport Fares Nationwide
‘We Don’t Fix Pump Prices’ — NMDPRA Breaks Silence on Rising Petrol Prices
The Soludo, Obi Spat – When Brothers Fight to the Finish
‘Calling Tinubu Bola, Giving Him Orders Is Insolence’ — Sunday Dare Blasts Atiku
Trump’s Family Unveils New Cryptocurrency Platform
Senate Denies Receiving Petitions Against Tinubu’s Ambassadorial Nominees
Dangote Cement Lights Up Benue Host Communities With CSR Initiatives
Reps Recommend 3-year Jail Term For Aviation minister
Tems Sets New Record On Billboard Hot 100 Chart
