NEWS
Subsidy Removal, Currency Reforms Vital For Economic Revival – VP Shettima
Vice President Kashim Shettima has called on Nigerians to exercise patience with President Bola Tinubu’s administration as it tackles the economic difficulties inherited upon assuming office.
He expressed confidence that the nation’s economy will witness substantial progress in the near future, leading to improvements in key areas such as inflation, income levels, GDP, poverty alleviation, and food security.
The appeal was made during the 2nd Chronicle Roundtable organized by 21st Century Media Services in Abuja on Thursday.
He said “Soon, Nigeria’s economy will experience significant growth once we’ve overcome these sacrifices. Positive changes will soon be evident across all economic indicators – inflation, per capita income, GDP numbers, poverty reduction, food security, and all aspects close to the hearts of our people.”
As the Guest Speaker at the roundtable, Vice President Kashim Shettima, through his spokesman Stanley Nwocha, elaborated on significant policy initiatives undertaken by the Tinubu administration.
These include the removal of petroleum subsidy, which he highlighted as a major issue prior to Tinubu’s leadership.
He emphasized the need for patience and time to tackle the substantial challenges, particularly the nation’s struggling economy, which was in a precarious state upon assumption of office.
Shettima said “We look forward to the positive impact on the economy that will be brought by some of our new initiatives in the oil and gas sector, creative arts sector, the newly rejigged steel and solid minerals sectors, our housing sector, the blue economy, and the digital sectors, to mention but a few.
“There is no doubt that there’s a time to plant and a time to reap. In between those times, we appeal for patience and seek collective sacrifice from all, especially from us. We wish there were a way to treat this ailment without surgery.”
In his address titled “Because These Shortcuts Are Not The Right Ways,” Vice President Kashim Shettima acknowledged the challenging nature of the decision to remove fuel subsidy, given its adverse effects on citizens’ lives.
However, he emphasized that it became a necessary choice when it was revealed that the previous administration of former President Muhammadu Buhari had not allocated funds for it in the 2023 budget.
He explained: “His Excellency, President Bola Ahmed Tinubu, chose the option that would save the life of the nation, instead of one that would merely prolong its imminent and predicted economic death. Before we took charge, the biggest elephant in the room was the question of fuel subsidy removal.
“We understood why our predecessor made the decision to remove it and refused to budget for it in their final fiscal year. The year before we took office, Nigeria’s debt service-to-revenue ratio had grown to 111.8%.
“The anticipated debt crisis may sound like fancy economic jargon to the man on the street, but you and I are in a better position to understand how such miscalculations have played out in other countries. It’s an economic death sentence.
“In plain terms, our debt servicing was such that if you earned, say, N100,000, the entirety of the money wasn’t only paid to your debtor; you were forced to borrow an additional N11,800 to pay the debtor. How do you intend to survive this, and how many more loans before you become a pariah?.”
“We are not even discussing the nation’s budget deficits, diversions of resources from critical sectors of the economy, and corruption masterminded in the subsidy regime.”
Recognizing the principle of government continuity, Vice President Kashim Shettima stated that any successor to the previous government would have faced the same choice: to navigate through the challenges or abandon ship, risking national collapse.
He noted that other presidential contenders did not find it ethically acceptable to criticize the removal of fuel subsidy, as it was among the solutions they had also proposed to the Nigerian people.
NEWS
2026 Poll: Osun Ndigbo Backs Adeleke’s Second-Term Bid
Ahead of the 2026 governorship election, the Ndigbo community across the local government areas of Osun State has declared its support for the second-term bid of Governor Ademola Adeleke.
A government house statement in Osogbo on Wednesday night has it that ndi Igbo cited his administration’s developmental strides across the state for their decision.
The endorsement was made during a courtesy visit by leaders of the Igbo community in Osun to the governor at the Government House in Osogbo, where they commended his leadership and commitment to inclusive governance.
ALSO READ: Adeleke on Why he Deserves Second Term
Speaking on behalf of the association, President-General of the Ndigbo in the state, Chief John Dike, praised the governor for the infrastructural and social development projects being carried out across the state.
He particularly commended the governor for appointing some members of the Igbo community as Senior Special Assistants, describing the gesture as a sign of recognition and inclusion of the community in the affairs of the state.
Chief Dike, however, appealed for further inclusiveness, requesting that more Igbo indigenes be considered for appointments into the state cabinet and other employment opportunities within the government.
He also urged the state government to allocate land for the construction of a modern secretariat for the Igbo community and grant approval for an endorsement rally in support of the governor’s re-election bid.
In addition, the Ndigbo leader sought assistance for Igbo farmers operating within the state, while assuring the governor of the community’s unwavering support for his administration and second-term ambition. Members of the delegation also presented campaign caps to the governor as a symbol of their solidarity.
Responding, Governor Adeleke expressed appreciation for the endorsement, noting that the Igbo community has continued to contribute positively to the social and economic development of the state.
He assured them that his administration would continue to promote their welfare and support their progress, while granting the requests presented during the visit.
NEWS
Adeleke on Why he Deserves Second Term
Osun State Governor, Senator Ademola Jackson Nurudeen Adeleke, has declared that his administration’s record of performance and fulfilment of electoral promises justifies a second term in office.
A government house statement in Osogbo on Wednesday has it that the governor made the declaration while hosting a delegation of the Ansar-Ud-Deen Society of Nigeria (ADS), Osun State Council, during a courtesy visit to the Government House, Osogbo.
ALSO READ: CNG: Tinubu Orders Deployment of 100,000 Kits in Three Weeks
It was gathered that the delegation was led by the National Vice President of the society, Asiwaju Justice Adeigbe (Rtd), alongside the Chairman of the Osun State chapter, Chief Daud Oladapo.
Speaking on behalf of the delegation, the State Secretary of the society, Dr Afeez Akande, praised the Governor’s performance and pledged the support of the organisation for the continuity of the administration.
“We have been following what you are doing and your track records. You are wonderful and you are marvelous in our eyes. The monumental works you have been doing in Osun make it look like we have never had a Governor like this before,” Dr Akande said.
He noted that the administration’s projects are known for timely delivery and strategic impact on the lives of residents.
“We have identified that once you embark on projects, they are time-bound. It shows genuine administrative acumen, love for the state and love for the people,” he added.
Dr Akande also cited infrastructural developments, specifically the ongoing dualisation of roads, notably that of Iwo as an example of the Governor’s vision-driven leadership.
“That road project has helped to boost economic activities in the area. Such development can only come from someone with vision who follows through with implementation. We appreciate what you are doing and we are resolved to support the continuity,” he said.
Responding, Governor Adeleke thanked the delegation for the visit and reaffirmed his commitment to people-centred governance.
“Today marks the starting point of campaigning for the August 15, 2026 governorship election. We need your prayers and support for a free and fair election through which the will of the people will prevail,” the Governor said.
Governor Adeleke also unveiled an upgraded Five-Point Agenda that will drive his re-election campaign.
“Our reloaded Five-Point Agenda will focus on integrated youth, women and workers’ welfare and empowerment; infrastructure consolidation for citizens’ social and economic wellbeing; agro-industrial expansion for human development and collective prosperity; affordable and qualitative health and education access; and an improved and secured business environment for job creation,” the Governor stated.
Explaining why he deserves a second term, the Governor pointed to the administration’s record across several sectors.
“When the opposition asked whether I deserve to be re-elected, I told them yes based on my performance in this first term in office,” the Governor said.
“I deserve re-election because of what our administration has delivered for the people of Osun. We have empowered the cooperative movement with almost four billion naira, strengthened community development associations with grassroots health and infrastructure projects, and implemented the Imole Medical Outreach that has benefited almost eighty thousand residents.”
He added that the administration has also revived agriculture and rural development across the state.
“We revived the cocoa revolution through aggressive seedling distribution and new farmers’ initiatives, acquired brand new tractors now serving farmers across the state, and implemented thousands of local projects through integrated rural development under the O-RAMP programme,” he said.
Governor Adeleke further highlighted achievements in governance, infrastructure and economic management.
“We introduced a 45-day window for the acquisition of Certificates of Occupancy, revived the Osun Free Trade Zone with active investors, digitised tax and revenue collection, and implemented the SIFMIS payroll application to ensure transparency in the management of public funds,” he stated.
The Governor also cited major achievements in infrastructure and social services.
“We have constructed over 350 kilometres of roads, developed three major flyover bridges, revived six moribund waterworks, drilled 332 boreholes across wards, rehabilitated schools and health centres, and paid inherited half salaries and almost one hundred billion naira in pension debts,” he added.
Governor Adeleke assured the people of Osun that his administration will continue to deliver inclusive governance and sustainable development if re-elected.
“My promise to the people of Osun is that now and when we are re-elected, we will continue to run an inclusive and forward-looking government that keeps the people at the centre of our programmes and policies,” he said.
Other dignitaries, and political functionaries present included the Deputy Governor of Osun State, Prince Kola Adewusi, and the Head of Service, Elder Ayanleye Aina.
NEWS
Fuel Price Shock: Nigerians May Soon Pay ₦1,500 Per Litre – Marketers Warn
Oil marketers have warned that Nigerians may soon pay as much as ₦1,500 per litre for Premium Motor Spirit (PMS), commonly known as petrol, as global oil prices surge following the escalating conflict involving Iran in the Middle East.
The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr. Billy Gillis-Harry, issued the warning on Tuesday while speaking on a television programme on the impact of the global crisis on fuel prices.
According to him, the current volatility in the international oil market has already pushed petrol prices above ₦1,000 per litre at the depot level, with the ex-depot price from the Dangote Petroleum Refinery now standing at about ₦1,175 per litre.
He explained that once logistics, transportation, and other operational costs are added, the final pump price could rise significantly, possibly reaching ₦1,500 per litre in the near future.
Despite concerns about the rising cost of fuel, Gillis-Harry noted that steady availability of petroleum products from the Dangote Refinery remains a major relief for Nigeria, stressing that consistent supply is better than a nationwide fuel scarcity.
He added that the refinery’s production capacity is helping to stabilize supply across the country at a time when global markets remain highly unstable.
The latest price adjustment by the Dangote Refinery marks the fourth review within two weeks. Petrol prices increased from ₦995 per litre to ₦1,175 per litre, while diesel rose from ₦1,430 to about ₦1,620 per litre.
The development comes amid a sharp spike in international crude oil prices triggered by fears of supply disruptions due to the ongoing Middle East conflict.
Brent crude recently climbed above $102 per barrel, while West Texas Intermediate (WTI) rose to around $101 per barrel.
Industry analysts say the rising oil prices are already having a ripple effect on Nigeria’s downstream petroleum sector, forcing depot operators and fuel marketers to adjust their prices in response to the global market trend.
Meanwhile, the management of Dangote Petroleum Refinery has stated that although Nigeria introduced a crude-for-naira arrangement to support local refineries, the facility still purchases crude oil at international market prices, leaving it exposed to global price fluctuations.






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