NEWS
Petrol Price Will Drop To ₦400, ₦500 Under Atiku’s Plan — Dino Melaye
Senator Dino Melaye, a chieftain of the African Democratic Congress (ADC), has said petrol prices could fall to between ₦400 and ₦500 per litre if the party’s proposed fuel subsidy policy is implemented under an Atiku Abubakar-led government.
Melaye made the statement during an appearance on Democracy Today, an AIT programme, on Monday, while explaining the ADC’s economic agenda ahead of the 2027 general elections.
According to him, the proposed restoration of fuel subsidy is aimed at making Nigeria more affordable by reducing the cost of petroleum products and easing pressure on transportation and the prices of goods and services.
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Melaye said the high cost of petrol has affected several sectors of the economy, including transportation, movement of goods, aviation and other businesses.
“Everything is around this subsidy. Once transportation is affected, movement of goods and commodities is affected,” he said.
He added that aviation fuel was also contributing to increased costs within the aviation sector, describing petroleum products as an important link across different areas of the economy.
Defending the ADC’s position on subsidy, Melaye argued that resources which he alleged were previously lost to corruption could instead be redirected towards Nigerians through the proposed policy.
“What we intend to do is that at the initial, there is no subsidy. What you have is corruption. It’s money being stolen. So, instead of the corruption, we are replacing corruption now by leveraging on the people,” he said.
Asked whether the ADC would restore fuel subsidy, Melaye said the party intended to bring it back fully.
“We are bringing back subsidies 100% because subsidies, there is nothing like subsidies. What we have is corruption,” he said.
Melaye further linked the proposed policy to the price of petrol and other petroleum products.
He said the policy would result in a reduction in the price of Premium Motor Spirit (PMS), diesel, kerosene, aviation fuel and other petroleum products.
“And once there is reduction from 1,400, you start buying fuel at 500 or at 400, definitely it’s going to have a resultant effect on every other facet, including price of goods and commodities,” Melaye said.
He argued that cheaper petrol would reduce transportation costs and contribute to lower prices of goods and commodities.
Melaye also questioned the Federal Government’s borrowing levels, comparing borrowing under former President Muhammadu Buhari, when fuel subsidy was in place, with borrowing under the current administration.
He claimed that Buhari’s administration borrowed ₦87 trillion over eight years with fuel subsidy, while the current administration had borrowed ₦157 trillion without subsidy.
Former Delta State Governor, Dr Emmanuel Uduaghan, has reportedly died, according to sources said to be close to his family.
The sources confirmed the development on Monday, October 19, 2026, although details surrounding the circumstances of his death remained unclear as of the time of filing this report.
“Uduaghan is no more; he is dead,” one of the sources reportedly said.
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The reported death comes months after claims that the former governor had died circulated on social media before being dismissed by his media aide, Henry Unini.
In June, reports of Uduaghan’s alleged death spread across Facebook and WhatsApp, prompting Unini to publicly debunk the claims and assure the public that the former governor was alive.
“I can tell you for a fact that Dr. Emmanuel Uduaghan is alive,” Unini said at the time.
“Frankly, I don’t know where the writer got his information from. The death of someone is not something you take and write about casually,” he added.
Unini acknowledged at the time that Uduaghan had been experiencing health challenges but maintained that he was receiving medical attention.
“It is now common knowledge that Dr. Emmanuel Uduaghan has been sick, but he is receiving proper medical care,” the media aide said.
He also stated that the former governor was recuperating, assuring the public that there was no immediate cause for concern.
“There is no cause for alarm whatsoever,” Unini said.
The media aide thanked friends, well-wishers and residents of Delta State who contacted the family to verify the former governor’s condition. He also urged the public to avoid spreading unverified information.
“The rumour was uncalled for,” he said while addressing the earlier reports.
As of the time of filing this report, further details about the circumstances surrounding Uduaghan’s reported death had yet to emerge.
The Delta State Government has commenced a ₦5 billion grassroots empowerment programme targeting 100,000 small-scale business owners and other beneficiaries across the state’s 500 wards.
The initiative, announced on Monday, will see each beneficiary receive ₦50,000 to support small businesses, strengthen household finances and stimulate economic activities across the state.
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The Executive Assistant to the Governor on Public Enlightenment (Projects and Policies), Mr Olisa Ifeajika, disclosed this while speaking with journalists in Asaba.
Ifeajika explained that the programme was designed to complement the state government’s investments in critical infrastructure with direct financial assistance to residents.
According to him, Governor Sheriff Oborevwori directed local government councillors to facilitate the distribution of the funds, with each of the 500 wards expected to reach at least 200 beneficiaries.
He added that the initiative reflects the administration’s commitment to improving livelihoods and expanding economic opportunities for Deltans, in line with the people-centred objectives of the MORE Agenda.
The Minister of Education, Dr Maruf Tunji Alausa, has commended Alhaji Aliko Dangote and the Aliko Dangote Foundation for plans to acquire Initial Public Offering (IPO) shares of Dangote Refinery on behalf of eligible Nigerian tertiary institution students.
Alausa described the initiative as an innovative approach to promoting financial literacy, youth empowerment and wealth creation among young Nigerians.
According to a press release issued by the Federal Ministry of Education on Monday, October 19, 2026, the initiative is expected to benefit up to four million students aged 18 and above, with each eligible student expected to receive 10 IPO shares without requiring prior investment or share purchase.
The minister said the programme would expose students to capital markets, responsible investing and long-term financial planning, preparing them for greater economic participation and financial independence.
He noted that the initiative aligns with the Nigeria Education Sector Renewal Initiative (NESRI) and President Bola Ahmed Tinubu’s Renewed Hope Agenda by connecting education with enterprise, human capital development and inclusive economic growth.
According to Alausa, the initiative reflects the importance of partnerships between the education sector and private organisations in equipping young Nigerians with the knowledge and skills needed to participate in the economy.
He said the Federal Ministry of Education remained committed to strengthening private-sector partnerships to improve educational quality, relevance, equity and efficiency while preparing learners for a changing economy.
While appreciating the foundation’s contribution to youth development, the minister clarified that the ministry’s commendation was based on the initiative’s educational and developmental value.
He stressed that the ministry’s position “does not constitute an endorsement of any particular investment decision.”
Alausa also encouraged other corporate organisations to support similar initiatives that promote financial awareness, economic productivity and entrepreneurship among young Nigerians.
He urged businesses to support NESRI and the Renewed Hope Agenda in building a financially informed and economically productive generation.
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