Tinubu: Removing Fuel Subsidy Was Necessary for National Growth
President Bola Tinubu has defended the controversial removal of fuel subsidies, calling it a necessary step toward economic recovery and long-term national development .
Speaking at the National Conference on Public Accounts and Fiscal Governance in Abuja on Monday, Tinubu said:
“In 2022 alone, we spent over ₦4 trillion on fuel subsidies—more than our capital expenditure.”
He described the move as painful but vital , emphasizing that it freed up resources for more impactful investments.
“This was not just about saving money—it was about redirecting value to where it matters most.”
Saved Funds Going Into Infrastructure, Social Programs
Tinubu revealed that the government has redirected subsidy savings into:
- Critical infrastructure projects
- Strengthened social safety nets
- Targeted economic reforms
He stressed that these moves aim to rebuild public trust and promote inclusive development across Nigeria.
“We’ve expanded transportation networks, launched new infrastructure initiatives, and built stronger financial buffers,” he added.
He also noted that the subsidy removal helped reduce smuggling , curb inefficiencies , and lay the foundation for a more self-reliant economy .
Tax Reforms Also Driving Revenue Growth
The President highlighted recent tax reform laws passed by the National Assembly, saying they will help broaden Nigeria’s revenue base and make tax compliance easier for small businesses.
“These reforms simplify processes, digitize collections, and reduce leakages,” he explained.
He described the changes as part of his administration’s broader strategy under the Renewed Hope Agenda , which seeks to diversify Nigeria’s economy away from oil dependency.
Key sectors benefiting from this shift include:
- Agriculture
- Manufacturing
- Digital services
- Renewable energy
- Creative industries
He also praised the Central Bank of Nigeria (CBN) for its efforts in stabilizing the naira and reducing inflationary pressures.
Transparency Is Non-Negotiable – Tinubu
Tinubu reiterated that transparency and accountability remain central to his administration’s governance.
He pointed to digital tools like:
- Integrated Payroll and Personnel Information System (IPPIS)
- Government Integrated Financial Management Information System (GIFMIS)
- Open Treasury Portal
“Public funds must be traceable. Public officers must be accountable. Citizens must be informed.”
He urged all stakeholders to support the transition from opaque spending to open budgeting , reinforcing public confidence in governance.
Senate President Urges PACs to Assert Oversight Authority
Senate President Godswill Akpabio , represented by Senator Abdul Ningi , called on the Public Accounts Committees (PACs) of the National Assembly to assert their constitutional powers.
“Oversight is not political. It is patriotic duty.”
Akpabio condemned the growing trend of non-compliance with legislative summons , especially from major institutions like the CBN, NNPC , and FIRS .
“Refusing to appear before PACs is an affront to democracy and rule of law.”
He urged lawmakers to demand answers, track revenues, and ensure implementation of budgets aligns with national priorities.
House Speaker Warns Against Ignoring Audit Reports
Speaker of the House of Representatives, Abbas Tajudeen , raised concerns about ₦300 billion in unrecovered public funds flagged by audit reports.
“This level of non-compliance is unacceptable.”
He said the House has moved beyond passive review to active enforcement of audit recommendations , urging collaboration with anti-corruption agencies to hold offenders accountable.
“Fiscal responsibility cannot thrive without consequences.”
He also emphasized the need to modernize the audit process through:
- Real-time tracking tools
- Digitized reporting systems
- Automated audit software
“We are making transparency a democratic right—not just a technocrat’s privilege.”
Call to Action: Share Your Thoughts!
Do you think removing fuel subsidies has benefited Nigerians? Are the reallocated funds reaching the right areas?
💬 Leave a comment below and join the conversation on Nigeria’s evolving economic policies.
📢 Don’t forget to share this article to spread awareness about how fuel subsidy removal is shaping Nigeria’s future.
About the author
Conseil des ministres au Burkina Faso : session présidée par Ibrahim Traoré à Ouagadougou
Le Conseil des ministres du Burkina Faso s’est réuni à Ouagadougou le jeudi 12 mars 2026 pour une séance ordinaire présidée par Ibrahim Traoré, Président du Faso et Président du Conseil des ministres. La réunion s’est tenue de 09 h 00 à 11 h 01 et a permis d’examiner plusieurs dossiers inscrits à l’ordre du jour. Principaux points abordés Au cours de cette séance, le Conseil des ministres a : délibéré sur plusieurs dossiers relatifs à la gestion des affaires de l’État ; entendu une communication orale portant sur des questions d’intérêt national ; procédé à des nominations dans l’administration publique ; autorisé certaines missions officielles à l’étranger. Cette session s’inscrit dans le cadre des réunions ordinaires du gouvernement visant à assurer la conduite des politiques publiques, la coordination de l’action gouvernementale et le suivi des décisions de l’exécutif. Le […]
Daniella Mawusi Ntow Sarpong Thanks Mahama for Appointment as Fire Service Chief
Daniella Mawusi Ntow Sarpong, the Chief Fire Officer and Director-General of the Ghana National Fire Service, has expressed deep appreciation to John Dramani Mahama for appointing her to lead the service. Speaking in an interview on Dwaso Nsem on Adom FM, Madam Ntow Sarpong also extended her gratitude to Vice President Jane Naana Opoku-Agyemang and the governing National Democratic Congress for the confidence placed in her leadership. “I want to use this opportunity to thank President Mahama, Vice President Prof. Jane Naana, and the entire NDC government for the confidence reposed in me and for honouring me with this leadership role,” she said. Commitment to Serve The Fire Chief pledged to meet the expectations attached to the position, assuring both government and the public of her dedication to the role. “I pledge to fulfil my mandate and discharge my duties […]
No Ghanaian Casualties in Middle East Tensions – Samuel Okudzeto Ablakwa
Samuel Okudzeto Ablakwa has confirmed that no Ghanaian has been killed or injured following the recent escalation of tensions in the Middle East, as government steps up efforts to protect its citizens in the region. In a Facebook update on Tuesday, March 3, the Minister revealed that he convened a virtual meeting with Ghana’s Ambassadors and Consuls General across the Middle East to assess the situation and coordinate further consular interventions. “This evening, I convened a virtual meeting with our Ambassadors and Consuls General in the Middle East to assess the latest developments and explore further consular interventions towards the protection of Ghanaians,” he stated. Diplomatic Coordination Across the Region Heads of Mission from Israel, Saudi Arabia, Qatar, Kuwait, the United Arab Emirates, Iran and Turkey participated in the discussions. “I am glad to report that so far no Ghanaian […]
IET-GH Marks World Engineering Day, Highlights Engineers’ Role in Ghana’s Development
The Institution of Engineering and Technology Ghana has joined the global engineering community in marking World Engineering Day for Sustainable Development, observed annually on March 4 and endorsed by UNESCO. In a statement issued to commemorate the day, the Institution highlighted the central role engineers play in Ghana’s development. It noted that engineering remains vital to infrastructure delivery, environmental protection, industrial growth, and technological progress. Engineering at the Heart of National Development According to IET-GH, Ghanaian engineers are providing practical solutions to major national challenges, including climate change, sanitation, energy transition, resilient infrastructure, and sustainable urban development. The Institution reaffirmed its commitment to ethical standards, innovation, and professional excellence, stressing that the country’s long-term growth will depend heavily on the expertise, creativity, and integrity of its engineers. It also encouraged young people to consider careers in engineering, describing the profession […]
Ga Traditional Council Summons KOKA Over Comments About COCOBOD CEO
The Ga Traditional Council has summoned entertainment critic Kwaku Osei Korankye Asiedu, popularly known as KOKA, over comments he allegedly made on social media concerning the Chief Executive Officer of the Ghana Cocoa Board, Dr. Randey Abbey. In a formal letter, the Council directed KOKA to appear before Ga chiefs and priests at the Ga Mantse Palace on Thursday, March 5, 2026. The traditional authorities stressed the importance of his presence, urging him to treat the invitation with urgency and seriousness. “Your presence is respectfully requested to address the matter and offer any necessary explanations. Kindly treat this invitation with the seriousness it deserves,” the letter stated. The correspondence was signed by the Secretary of the Court of Priests of Ga, acting on behalf of the Chief Priest of the Ga Traditional Area.
Ghana to Declare 21 Marine Protected Areas Starting at Greater Cape Three Points
Ghana is preparing to declare 21 coastal communities as Marine Protected Areas in a major step toward restoring marine biodiversity and strengthening fisheries management. The first declaration is expected to take place at Greater Cape Three Points in the Western Region. Once designated, fishing activities within the protected zones will be restricted to allow depleted fish stocks to recover. Part of the Global 30×30 Target The move forms part of Ghana’s commitment to the global 30×30 target, which calls for the protection of at least 30 percent of the world’s land and ocean areas by 2030. The goal falls under Target 3 of the Global Biodiversity Framework and has been adopted by more than 190 countries. Despite the widespread commitment, progress remains slow. Since 2022, global reviews show that only about 2.9 percent of the ocean is fully or highly […]
Related
Sultan declares Friday Eid il Fitr after non sighting of Shawwal moon
The Sultan of Sokoto and President General of the Nigerian Supreme Council for Islamic Affairs, Alhaji Muhammad Sa’ad Abubakar, has declared tomorrow as Eid il Fitr . The announcement followed the non sighting of the Shawwal moon across Nigeria on Wednesday night . According to the Sultan’s media team, the declaration was contained in a statement issued by Prof Sambo Wali Junaidu, Wazirin Sokoto and Chairman of the Sultanate Council Advisory Committee on Religious Affairs, in conjunction with the National Moon Sighting Committee . The statement confirmed that no verified reports of the Shawwal crescent were received from moon sighting committees nationwide, meaning Muslims must complete 30 days of fasting for Ramadan 1447AH . It explained that, in line with Qur’an and Hadith, when the new moon is not seen on the 29th day of a lunar month, Muslims are […]
Cardoso says Nigerian economy now stronger against global shocks
Nigeria’s economy is now stronger and better positioned to withstand global economic shocks, according to Central Bank of Nigeria Governor Olayemi Cardoso . Speaking at the Africa Capital Forum in London on the sidelines of President Bola Ahmed Tinubu’s state visit to the United Kingdom, Cardoso said the financial system is being strengthened through disciplined monetary policies and institutional reforms . He explained that the CBN is reviewing its policy framework to make decisions more predictable and reduce uncertainty for investors, with the goal of developing clear, consistent and meaningful policies rather than relying on discretion . Cardoso disclosed that the apex bank has completed work on a new Payments System Vision for Nigeria, which will soon be launched to position the country as a major player in digital payments and cross border transactions across Africa . On the foreign […]
Nigeria spends N32.8trn on defence in 15 years as insecurity persists
Nigeria has spent about N32.88 trillion on defence in the last 15 years, roughly 12.5 percent of total national budgets of N262.834 trillion over the period, yet insecurity remains widespread across the country . Based on official budget exchange rates, the N32.88 trillion translates to about 44.64 billion dollars, but communities across several regions still face insurgency, banditry, kidnapping, communal clashes and oil related violence . Security trackers estimate that more than 100,000 Nigerians have been killed in violent incidents and conflict related attacks since 2012, with thousands abducted and millions displaced from their homes . In 2026 alone, at least 1,091 people were reported killed in violent attacks in the first 41 days of the year, while about 3.726 million Nigerians are currently displaced and living in roughly 3,900 camps nationwide . The recent suicide bombings in Maiduguri, Borno […]
Pomp and splendour as King Charles hosts Tinubu and wife at historic UK state visit
President Bola Ahmed Tinubu and First Lady Oluremi Tinubu were hosted with pomp and splendour by King Charles III and Queen Camilla at Windsor Castle, marking the first state visit by a Nigerian leader to the United Kingdom in 37 years . Military President Ibrahim Babangida was the last Nigerian leader to pay a state visit in 1989, following earlier state visits by former President Shehu Shagari in 1981 and General Yakubu Gowon, all of whom were hosted by the late Queen Elizabeth II . Tinubu and his wife were received by senior royals, including Prince William and Catherine, Princess of Wales, before being escorted to meet the King and Queen for the formal welcome . Because the visit coincides with Ramadan, there was no traditional lunch with the King, but the President and First Lady were still treated to […]
CDS COAS DG NEMA relocate to Maiduguri after Tinubu directive
Chief of Defence Staff General Olufemi Oluyede, Chief of Army Staff Lieutenant General Waidi Shaibu and Director General of the National Emergency Management Agency have relocated to Maiduguri, Borno State, following President Bola Ahmed Tinubu’s directive . The move comes in response to a recent surge in Boko Haram and ISWAP attacks and bombings in Borno, including deadly explosions in Maiduguri, the state capital . Tinubu had ordered all service chiefs and heads of key security agencies to move to Maiduguri to coordinate intensified operations aimed at quickly restoring security and public confidence in the North East . On Wednesday, Oluyede and Shaibu arrived at the Maiduguri Air Force Base, where they were received by the Theatre Commander, Joint Task Force North East Operation Hadin Kai, Major General Abdulsalam Abubakar, and other senior officers . The service chiefs later proceeded […]
Tinubu and First Lady receive royal welcome as UK state visit opens
President Bola Ahmed Tinubu has begun his historic state visit to the United Kingdom with a ceremonial welcome at Windsor Castle, where he was received by King Charles III . This is the first state visit by a Nigerian leader to the UK in 37 years, marking a significant milestone in relations between both countries . Tinubu, accompanied by First Lady Oluremi Tinubu, was honoured with a 42 gun salute by the King’s Troop Royal Horse Artillery as part of the formal arrival ceremonies . Earlier, Prince William and Catherine, Princess of Wales, welcomed the Nigerian First Family and escorted them to meet King Charles and Queen Camilla at the historic royal residence . The two day visit will see the King host the president and his wife at Windsor Castle, with activities including an exchange of official gifts and […]