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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?”
Gunmen have killed a former staff member of Ogun State Television, Mrs. Kitan Oyesiku, popularly known as “Aunty Kitan,” alongside her security guard in a violent early morning attack in Agodo community along the Abeokuta–Siun–Sagamu Expressway in Ogun State.
The incident, which occurred in the early hours of Sunday, threw residents of the area into panic and mourning as news of the killings spread across the community.
The victims were reportedly attacked inside their residence by unknown armed men who stormed the compound and carried out the operation before fleeing the scene.
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The security guard on duty was also killed during the invasion.
The attack took place within the Abeokuta axis of Abeokuta, raising fresh concerns over insecurity in parts of the state.
The bodies of the deceased have since been deposited at the morgue of the State Hospital, Ijaiye, Abeokuta.
As of press time, the motive behind the attack remains unclear, while security agencies are expected to launch a full-scale investigation into the incident.
An anonymous source who spoke on the development said the incident was discovered after concerned church members went to check on the deceased when she failed to appear at church service.
The source said: “They had come around to check on Mrs Oyesiku when they did not see her in the church. On getting to her residence, they found out that the security officer had been killed, and they later also saw that the assailants had also killed Mrs Oyesiku. That was how they raised the alarm in the community.”
When contacted, the spokesperson of the Ogun State Police Command confirmed the incident and said an official statement would be issued after preliminary investigations.
Mrs. Oyesiku, a former broadcaster with the state-owned television station, was well known in media circles before her retirement.
Her death has sparked grief among colleagues, friends, and residents across Ogun State, as calls mount for improved security in the area.
President Bola Tinubu has congratulated Governor Biodun Oyebanji of Ekiti State on his re-election, describing the outcome of the governorship election as a clear affirmation of the people’s trust in continuity, stability, and development-focused leadership.
Tinubu also called on opposition parties in the state to accept the results of the election and work with the re-elected governor to strengthen governance and accelerate development across Ekiti.
His message was contained in a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, following the official declaration of results by the Independent National Electoral Commission (Independent National Electoral Commission).
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The president said the victory represents a strong endorsement of Oyebanji’s performance during his first term in office, noting that the people of Ekiti have reaffirmed their confidence in his leadership.
He urged the governor to remain humble in victory and ensure inclusive governance that carries all stakeholders along in the next phase of administration.
“President Tinubu urges Governor Oyebanji to remain magnanimous in victory and to carry all Ekiti people along as he consolidates on his achievements in the next four years,” the statement read.
Tinubu further appealed to candidates who participated in the election to prioritize peace and unity, stressing the importance of collaboration in moving the state forward.
He noted that the election outcome should mark the beginning of broader cooperation among political actors in Ekiti rather than division.
According to him, Oyebanji’s first term witnessed notable progress in key sectors such as infrastructure, agriculture, education, healthcare, youth empowerment, and rural development under the BAO agenda.
The president described the renewed mandate as a reflection of voters’ confidence in stability and continuity of governance.
“The renewed mandate is therefore a clear vote of confidence in continuity, stability, and people-centred governance,” Tinubu stated.
He also reaffirmed the Federal Government’s commitment to partnering with the Ekiti State Government to deepen development and ensure the delivery of democratic dividends under the Renewed Hope Agenda.
Tinubu praised the conduct of voters during the election, describing the process as largely peaceful, and commended security agencies for maintaining order throughout the exercise.
Meanwhile, Biodun Oyebanji was officially declared winner of the poll after securing 319,224 votes across all 16 local government areas of the state.
The victory makes him the first governor in the history of Ekiti State to win consecutive re-election, marking a significant milestone in the state’s political history.
U.S. President Donald Trump has predicted that British Prime Minister Keir Starmer will step down from office, accusing the Labour leader of failing on two critical issues — immigration and energy policy.
Trump made the remarks on Sunday in a post on his Truth Social platform, where he claimed Starmer’s leadership had fallen short in addressing challenges facing the United Kingdom.
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“Keir Starmer will resign as Prime Minister of The United Kingdom,” Trump wrote. “He failed badly on two very important subjects — IMMIGRATION AND ENERGY (OPEN NORTH SEA OIL!). I wish him well!”
The U.S. president did not provide any evidence to support his claim, nor did he reveal the basis for his prediction that Starmer would leave office.
Starmer, who leads the Labour Party, became Prime Minister after securing victory in the UK’s general election.
Since taking office, his government has faced criticism over a range of issues, including migration policies, energy security, and the cost-of-living challenges confronting many Britons.
Trump’s comments come as debates over immigration and energy continue to dominate political discussions in the UK.
However, there has been no official statement from Starmer, his office, or the British government suggesting that he plans to resign.
As of the time of filing this report, Starmer remains in office and continues to lead the government despite the claims made by the American president.
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