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Subsidy Removal: Roll Out Palliative Measures, ActionAid Tells Tinubu

Published

2 years ago

June 4, 2023

Editor

As Nigerians groan over the removal of fuel subsidy, ActionAid Nigeria, AAN, has on President Bola Tinubu to immediately provide palliative measures to reduce the impact on Nigerians.

The call was made by the Country Director, AAN, Ene Obi, in an address during a press conference on the issue of subsidy removal and the plight of Nigerians.

Obi who was represented by the Director of Resource Mobilization, ActionAid Nigeria, Andrew Memedu, where Tinubu was made to understand that his declaration had thrown millions of Nigerians into untold hardship, which also businesses have been negatively impacted.

Meanwhile, AAN also pointed out that Tinubu also failed to “acknowledge the inadequacies of the electoral umpire and the marred February 25th General Elections that brought him to power as the fifth democratically elected president of Nigeria. Instead, the president hailed the election as the best election since the Fourth Republic.”

Therefore, CSO described the President’s speech on the February 25 presidential election, which AAN was an observer as “unacceptable”, and condemn it, accusing the President of “erroneously” opined outcome of the election as a reflection of the will of Nigerians.

The statement pointed out that the President failed to acknowledge and accept the many violence that characterized the election which took the lives of many and disenfranchised thousands of eligible voters.

She said: “In his (Tinubu) speech, the President also made a far-reaching statement – “subsidy is gone”-concerning the subsidy regime of the country which immediately plunged the already impoverished Nigerians into untold hardship.

“This statement was welcomed with reckless reactions from oil marketers – hoarding petrol products and in many cases, selling petroleum products at unregulated prices.

“Less than 48hours after the inauguration speech, the Nigeria National Petroleum Corporation Ltd jumped on the President’s announcement and released a national price list for Premium Motor Spirit (PMS) – capping the new price between N488-N550 per liter.

“The removal of petrol subsidy undoubtedly has significant adverse effect on Nigerians and this ranges from increased transportation cost, higher cost of living, inflation, reduced purchasing power, social unrest, as well as heightened level of crime and criminality.

“Also, a critical underlining negative impact of the removal of petrol subsidy is that it is certainly going to widen poverty bracket in Nigeria, particularly amongst the poor masses and the excluded citizens with the ravaging unemployed youth.

“We acknowledge the failure of President Muhammadu Buhari administration to resuscitate the 4 abandoned refineries with all the funding voted to it.

“We think the focus is to think of bringing that investment back to life. The question is, how can a nation so endowed by such natural resources, not refined its products and now asking citizens to pay the price.

“Now the new President comes and says, no discussion as if there we have committed a crime against our leaders.

“As advocates of human rights, ActionAid Nigeria makes its recommendations to the Federal Government as follows: Resuscitate the four refineries to create more jobs to engage the volume of young people of Nigeria; We need to first establish, review and investigate what makes up this subsidy with citizens, organized labour involved, CSOs and stakeholders in a transparent investigative process, as government inefficiencies should not be passed to the citizens as subsidy.

“Review the Social Protection programme for the most vulnerable which was started by the past administration. Remember that the survey on multi-dimensional survey by the National Bureau of Statistics stated that more than 133m Nigerians live below the poverty line. This was before the flooding last year that affected more than 31 states. Government must also ensure that women, young persons and Persons with Disability are specially considered in the Social Protection Programme.

“Promote alternative energy sources like Compressed Natural Gas (CNG) to reduce the reliance on petrol by all.Immediately provide affordable and safe public transportation system across the country.

“In conclusion, the removal of fuel subsidy in Nigeria presents a huge challenge and the untold hardship has been reported from different parts of the country. ActionAid Nigeria stands firm in our commitment to advocate for the protection of the most vulnerable and marginalized during this transition.

“We call on the government to prioritize social protection measures, invest in critical sectors, and ensure transparency in the utilization of saved resources.

“Together, let us work towards a Nigeria where the well-being and dignity of every citizen is upheld.”

News

Reps Move To Regulate Cryptocurrency, POS Operations

Published

4 hours ago

October 6, 2025

Editor

Concerned about the growing cases of cybercrime, money laundering, and terrorism financing linked to digital finance platforms, the House of Representatives has set up an ad hoc committee to review the economic, regulatory, and security implications of cryptocurrency adoption and Point-of-Sale (POS) operations in Nigeria.

Speaker of the House, Abbas Tajudeen, who inaugurated the committee on Monday in Abuja, said the move became necessary amid increasing concerns over fraud and consumer exploitation in the country’s rapidly expanding digital finance ecosystem.

He noted that while Nigeria’s resilient economy has the potential to support cryptocurrency growth, the risks associated with its unregulated operations, including its use for illicit financial flows, cannot be overlooked.

Abbas explained that the absence of clear regulatory guidelines, coupled with the volatility and complexity of digital assets, compelled the House to intervene and establish a regulatory and consumer protection framework for Virtual Asset Service Providers (VASPs), including cryptocurrencies and crypto-assets.

He said Nigeria’s economy has consistently demonstrated resilience, often recovering from recessions and recording growth in non-oil sectors, making it a potentially strong environment for cryptocurrency trade. However, he cautioned that the vulnerabilities inherent in digital currency operations must not be underestimated.

“It is because of this absence of clear rules, coupled with the volatility and complexity of the technology, that the House of Representatives found it imperative to establish regulations and consumer protection measures that will regulate the activities of Virtual Assets Service Providers, including cryptocurrencies and crypto assets,” Abbas said.

He added that the committee’s mandate includes conducting public hearings to gather input from stakeholders that would guide the House in developing legislation for a comprehensive regulatory framework governing cryptocurrency and other digital finance platforms.

The Speaker urged members of the committee to discharge their duties with patriotism and integrity, ensuring that the best interests of the nation guide their work.

In his remarks, the Chairman of the Committee, Olufemi Bamisile (APC–Ekiti), described the assignment as one of national importance aimed at striking a balance between financial innovation and national security.

“We have been entrusted with a task of national significance — to review the economic, regulatory, and security implications of cryptocurrency adoption and Point-of-Sale operations in Nigeria,” Bamisile said.

He added that the committee would work closely with key regulatory and security agencies such as the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), Nigeria Deposit Insurance Corporation (NDIC), Nigerian Financial Intelligence Unit (NFIU), Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the Nigeria Police Force.

News

World Habitat Day: Okpebholo Commends Building Control Agency For Developmental Milestones

Published

5 hours ago

October 6, 2025

Editor

Governor Monday Okpebholo of Edo State has commended the management and staff of the Edo State Development and Building Control Agency (ESDBCA) for their significant contributions to urban growth and infrastructural development across the state.

The governor gave the commendation on Monday when he played host to the delegation of the agency in his office as part of programme to mark this year’s World Habitat Day celebration.

The deputy governor, Hon. Dennis Idahosa who received the team on his behalf, commended the agency led by the Managing Director, Mr. Imoisili Igabali, for its “selfless contributions” to the development of our dear state.

In a statement by his Chief Press Secretary, Mr Friday Aghedo, Idahosa noted that the agency had played a pivotal role in driving urban renewal and enforcing modern building standards in the State, describing their efforts as vital to the government’s vision of sustainable city planning.

“We want to thank you for being part of the growth and development of our dear state. Your work has not gone unnoticed.

“What is most important to us is that we have the political will to ensure that this agency continues to fulfill its mandate effectively,” he stated.

He expressed optimism on the future of urban development in Edo State and pledged continued government support for the agency’s initiatives.

“On behalf of His Excellency, Senator Monday Okpebholo, I want to thank you for this wonderful day.

“We congratulate you as a state, and we thank God for giving us a capable leader in Mr. Igabali, whose dedication and teamwork continue to yield results,” he said.

Earlier in his remarks, the Managing Director of the agency expressed appreciation to the Governor and his deputy for their support and for taking the time to receive the agency’s delegation during the World Habitat Day observance.

The 2025 World Habitat Day celebration in Edo State was marked with renewed calls for sustainable housing, improved infrastructure, and enhanced urban management — key pillars of the Okpebholo administration’s development agenda.

News

UNFPA Launches Technical Working Group On Disability Inclusion In Northern Nigeria

Published

5 hours ago

October 6, 2025

Editor

The United Nations Population Fund (UNFPA) has supported Bauchi State to inaugurate the first Disability Inclusion Technical Working Group (DITWG) aimed at promoting equity, inclusion, and human rights for persons with disabilities.

Speaking during the inauguration of the group in Bauchi on Monday, Ms Muriel Mafico, UNFPA Representative in Nigeria said that out of the 19 Northern states in Nigeria, Bauchi was the first to inaugurate the group.

According to her, the inauguration marked a significant milestone in the collective commitment in advancing inclusion, equity, and human rights for all persons with disabilities.

Represented by Olawunmi Akande, an official of UNFP, Mafico said that disability inclusion is central to achieving the Sustainable Development Goals (SDGs) and the vision of the 2030 Agenda.

“Disability inclusion is not an act of charity, but a matter of human rights, development, and justice.

“UNFPA is committed to ensuring that persons with disabilities, especially women, girls, and young people have equal access to sexual and reproductive health services, education, and opportunities to participate meaningfully in decision-making processes.

“UNFPA stands ready to support this Working Group through evidence generation, capacity building, inclusive programming, and technical assistance,” she said.

Also speaking, Mr Abubakar Sambo, an official of the Bauchi State Agency for Disabled Persons, said that the objectives of the group was to promote, coordinate and collaborate through a multi-sectoral approach to disability inclusion by bringing together relevant stakeholders and Organizations of People with Disabilities.

He also explained that the group would provide technical support and expertise in areas such as inclusive education, accessible infrastructure, health services, and disability-inclusive employment practices.

Sambo also emphasized on monitoring and reviewing policies and programmes in Bauchi State to ensure alignment with international standards and best practices.

He added that the technical group would also advocate for disability rights through public awareness campaigns, policy dialogues, and engagement with key decision-makers, Amongst others.

Earlier, Mrs Brisca Jerome, Executive Secretary, Bauchi State Agency for People with Disabilities, said the support from UNFPA would complement the state government’s efforts toward inclusive governance.

She appreciated the support of the UN agency and the state governor for creating an enabling environment for partners to strengthen activities and programmes targeting persons with disabilities.

She said that the DITWG consists of a 36 man group from all stakeholders in the sector.

The DITWG is to be chaired by the Executive Secretary, Bauchi state Agency for People With Disabilities.