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
‘We Went Eight Years Without Salaries, Pensions, Gratuities’ — Ex-Water Corp Spokesperson Backs Soludo in Obi Debt Row
The ongoing debt controversy between former Anambra State Governor Peter Obi and the state government has taken a fresh turn after the Anambra State Government shared a statement attributed to Victor Ononye, a former spokesperson of the defunct Anambra State Water Corporation.
Ononye was presented by the state government as corroborating its Fact No. 3, which concerns alleged unpaid salaries, pensions and gratuities involving former Water Corporation workers during the administration of Peter Obi.
In the statement shared by the government on Wednesday, Ononye said he was in a position to verify the claim, recalling the experience of workers of the Water Corporation during the period.
SEE MORE: Presidency Challenges Obi to Quit 2027 Race Over Anambra Debt Claims
“Yes. I can verify Fact No 3 of Soludo’s submission,” Ononye said.
“The staff of Anambra State Water Corporation where I was the spokesman suffered terrible gnashing of teeth without salaries,pension and gratuity for eight years.”
He further alleged that workers were dismissed without committing any offence and claimed that staff of the Anambra State Environmental and Sanitation Authority (ANSEPA) experienced a similar situation.
“The workers were unilaterally dismissed without committing any offence. The same fate was suffered by staff of Anambra State Environmental and Sanitation Authority (ANSEPA) in the administration under review,” he said.
Ononye also claimed that the situation had severe consequences for affected workers.
“Hundreds of people died in the anguish. The few who survived did so by the special grace of God. Ask anyone who lost his entitlements what it feels like to do so. Don’t forget that the victims are our brothers and sisters,” he said.
He also linked the alleged situation to the collapse of public pipe-borne water supply in the state.
“The ripple effect is that for eight years, there was nothing like pipe borne water in Anambra and people lived as nothing happened. Dirt, filth and squalor, sickness and diseases became the order of the day,” Ononye stated.
He further alleged that the Greater Onitsha Water Supply Scheme suffered during the period.
“The multi billion Naira Greater Onitsha Water supply scheme has now been converted into a fish pond while similar water schemes at Enugu and Abakaliki are working till date. Shame on you all,” he said.
The statement comes as the Anambra State Government continues to challenge Obi’s claim that he left office in March 2014 without outstanding salaries, pensions, gratuities or other financial liabilities.
In its Fact No. 3, the state government said Obi owed “verified salaries, gratuity, and pension to retired teachers and staff of Water Corporation.”
The government said arrears owed to staff of the defunct Water Corporation “lingered throughout” Obi’s tenure and eventually resulted in court processes and judgments.
According to the government, the Soludo administration negotiated a settlement with the affected workers and had already paid the first two instalments of an agreed three-instalment arrangement.
The government also said it had cleared about ₦22 billion in inherited gratuity arrears involving retired state and local government employees and teachers, while other legacy arrears remained under consideration.
NEWS
Reno Omokri Hails Dangote as Wealth Hits $51.3bn After Refinery IPO Launch
Former presidential aide and social commentator, Reno Omokri, has congratulated Dangote Group President, Aliko Dangote, following the launch of the Dangote Refinery Initial Public Offering (IPO) and a reported rise in the billionaire’s wealth to $51.3 billion.
Omokri disclosed this in a statement on Wednesday, describing the development as a major achievement for Dangote and Nigeria’s industrial sector.
The Dangote Refinery IPO opened on September 14, offering 4.1 billion ordinary shares at ₦525 per share. The offer, which could raise about ₦2.15 trillion if fully subscribed, is scheduled to close on October 13, 2026.
SEE ALSO: Peter Obi Backs Dangote Refinery IPO, Urges Nigerians to Invest
According to Omokri, Dangote’s wealth had risen to $51.3 billion, placing him 36th on Forbes’ Real-Time Billionaires ranking.
“Hearty congratulations to Alhaji Aliko Dangote, President of the Dangote Group, on the success of the Dangote Refinery, whose triumph at the Nigerian Stock Exchange has catapulted Mr Dangote to a new all-time wealth record of $51.3 billion, making him the 36th wealthiest person on the planet, according to Forbes’ real-time Billionaires ranking.”
Omokri said the IPO had also created an opportunity for investors to participate in the ownership of the refinery.
“And Mr Dangote’s wealth is not just personal. With this Initial Public Offering, he has expanded his fortune by making it a national one, with money from his productive activities now going into the pockets of potentially millions of Nigerian and international investors.”
The Dangote Refinery has promoted the IPO as an opportunity to broaden ownership, with investors able to subscribe for a minimum of 10 shares, worth ₦5,250.
Omokri also credited President Bola Ahmed Tinubu’s administration for what he described as an economic environment supportive of Corporate Nigeria and local production.
“The thing to note here is that when you have a President like His Excellency, Bola Ahmed Tinubu, GCFR, President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, who believes in Corporate Nigeria, and captains of industry, such as Alhaji Dangote, who produce made-in-Nigeria goods and services, while utilising Nigerian labour and creativity, along with patriotic citizens, who by their consumption habits prioritise made-in-Nigeria, the sky is the limit.”
He further claimed that the development had created a surge in wealth that increased Nigeria’s GDP by three per cent within 48 hours, linking it to President Tinubu’s target of achieving a $1 trillion Nigerian economy by 2031.
“Within 48 hours, Mr Dangote has created a surge of wealth that has increased Nigeria’s GDP by 3%, thereby advancing President Tinubu’s agenda of a $1 trillion Nigerian economy by 2031.”
The three-per-cent GDP claim was made by Omokri in his statement and is presented here as his assertion.
He concluded by thanking Tinubu and Dangote for the development.
“A grateful nation says thank you to President Bola Ahmed Tinubu, without whose economic policies this IPO would never have happened, and Mr Dangote, whose passion has made this vision a mission accomplished.”
NEWS
IGP Disu Proposes New Police Desk for Nigeria’s Creative Economy, Intellectual Property
………..IGP seeks stronger action against piracy, cyber fraud and counterfeiting.
Inspector-General of Police, IGP Olatunji Rilwan Disu, has proposed the establishment of an Orange Economy Security and Intellectual Property Coordination Desk within an appropriate existing structure of the Nigeria Police Force.
Disu made the proposal on Wednesday, while delivering a lecture to participants of Senior Executive Course 48, 2026, at the National Institute for Policy and Strategic Studies (NIPSS), Kuru, Plateau State.
SEE MORE: ‘The Problem Is Misconduct, Not Cameras’ — Inibehe Fires Back at IGP Over Police Recording Ban
The lecture, titled “The Orange Economy and Entrepreneurship for Sustainable Development in Nigeria: The Role of the Nigeria Police Force,” examined the relationship between security, entrepreneurship and the growth of Nigeria’s creative industries.
Disu proposed that the coordination desk should support “specialised policing, inter-agency collaboration, dedicated reporting mechanisms and improved engagement with stakeholders.”
He noted that film, music, fashion, publishing, advertising, digital content, gaming, tourism, heritage and the arts are increasingly driven by entrepreneurship, technology and intellectual property.
The IGP stressed that adequate protection of the sector could enhance its contribution to “employment, investment and national development.”
As part of measures to strengthen policing of crimes affecting the creative economy, Disu advocated an “intelligence-led and partnership-based approach” to tackling organised piracy, counterfeiting, cyber-enabled fraud and other criminal activities affecting creative enterprises.
He also advocated “financial investigation, where applicable,” to trace proceeds linked to criminal networks operating through payment accounts, digital wallets, advertising revenues, logistics networks and online distribution channels.
Disu Seeks Stronger Intellectual Property Protection
On intellectual property protection, the IGP called for stronger collaboration between the Nigeria Police Force, the Nigerian Copyright Commission and other relevant institutions.
He identified the protection of film locations, concerts, festivals, tourism sites and cultural assets, improved cybercrime response, preservation of digital evidence and sustained engagement with creative communities as key areas requiring greater attention.
Disu further highlighted the preventive value of legitimate economic opportunities, noting that “credible pathways from talent to lawful income and employment” can help reduce young Nigerians’ vulnerability to criminal activity.
He stressed that piracy, fraud, extortion and other forms of criminality can weaken businesses, discourage investment and undermine innovation.
The IGP emphasised that “professional, accountable and rights-respecting policing” remains essential to building confidence among creators, entrepreneurs and investors in Nigeria’s growing creative economy.







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