News
Atiku Insists on Targeted Petrol Subsidy as Presidency Raises N19.1tr Cost
By Derick peretengboro
Former Vice President and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has reaffirmed his plan to restore a targeted petrol subsidy if elected, saying the policy would help ease the hardship caused by rising fuel, transport and food prices.
Atiku said the removal of petrol subsidy had pushed more Nigerians into poverty, stressing that government must prioritise the welfare and purchasing power of citizens.
According to him, Nigeria has sufficient resources to provide relief for its people while supporting local production, businesses and job creation.
In a statement shared on his X account, Atiku also challenged President Bola Tinubu to produce evidence of wrongdoing against him over the controversial $16 billion power sector expenditure, insisting that he should be investigated and prosecuted if there is a genuine case against him.
The former vice president said the issue of subsidy should not be separated from the wider question of accountability, demanding that the Federal Government explain how the savings from subsidy removal have been utilised.
He said Nigerians were promised that subsidy removal would free funds for development, but citizens had instead experienced higher petrol prices, transportation costs, food prices and declining purchasing power.
Atiku asked the government to account for the resources generated since subsidy removal, declaring: “If you have evidence against Atiku, bring it. If you have a case, prosecute it.
Presidency Demands Clarity
The Presidency, however, has challenged Atiku to provide details of his proposed targeted subsidy, including its cost, funding source, beneficiaries and conditions for its eventual withdrawal.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, said conflicting statements from Atiku’s aides had created uncertainty over the former vice president’s actual petroleum policy.
Atiku’s spokesman, Paul Ibe, had earlier said the subsidy would be restored temporarily before being phased out. However, another senior aide, Phrank Shaibu, rejected that explanation, saying Atiku would not commit to a fixed date for ending the subsidy.
Shaibu said the subsidy should remain until domestic refining capacity expands, fuel supply becomes stable, competition increases and market forces are capable of delivering affordable prices without government intervention.
Atiku later reaffirmed that his position had not changed and that he remained committed to restoring a targeted subsidy.
Onanuga consequently demanded a clear and costed proposal, asking Atiku to explain how much the policy would cost, who would benefit, how beneficiaries would be identified and what conditions would determine its eventual termination.
He also argued that petrol prices alone could not solve Nigeria’s cost-of-living crisis, noting that crude oil prices, exchange rates, refining costs, transportation and distribution expenses all influence pump prices.
Presidency Puts Cost at N19.1tr
Senior Special Assistant to the President on Digital and New Media, Otega Ogra, separately estimated that Atiku’s proposed subsidy could cost Nigeria about N19.1 trillion annually.
Speaking on TVC News, Ogra argued that with crude oil at about $80 per barrel, Nigeria could need to subsidise each barrel by approximately $40.
He put the estimated burden at about N52.3 billion daily and N1.5 trillion monthly, warning that such spending could place a significant strain on public finances.
Ogra also criticised the proposal for not clearly specifying the subsidy cap, the volume of crude required or the precise funding mechanism.
Atiku Demands Accountability Over Subsidy Savings
Responding to the renewed allegations over his past involvement in the power sector, Atiku said the claims were being revived to divert attention from questions surrounding the management of funds saved from petrol subsidy removal.
He maintained that although he chaired the National Council on Privatisation while serving as vice president, he did not supervise the implementation of the controversial power projects.
Atiku said he had repeatedly challenged successive governments to investigate him if there was evidence of corruption.
He insisted that nearly two decades after leaving office, allegations without evidence could not replace prosecution or due process.
Olawepo-Hashim Promises N605 Petrol
Meanwhile, Accord presidential candidate Gbenga Olawepo-Hashim has promised that petrol would sell for no more than N605 per litre under his administration.
He said the price could eventually fall to as low as N200 per litre if production costs decline and the exchange rate improves.
Olawepo-Hashim said the proposed N605 price would be sustainable and would not depend on an opaque subsidy system.
He argued that Nigeria must first establish the actual cost of producing, refining, transporting and distributing petrol before determining whether consumers are being subsidised.
The unfolding debate has further intensified the political argument over petrol pricing, subsidy removal, public spending and how best to reduce the economic pressure facing Nigerian households.
By staff Reporter Rukevwe Odeh
The Vice-Chancellor of the University of Lagos (UNILAG), Professor Folasade Ogunsola, has threatened legal action against online news platform NaijaOnPoint over a report alleging financial irregularities involving university staff.
Ogunsola, through her solicitors, Bayo Osipitan and Co., has demanded the removal of the publication, a retraction and a public apology within 48 hours of receiving a letter of demand.
The disputed report alleged that university staff received ₦397 million in irregular payments, while ₦434 million in cash advances remained unretired.
The publication, titled “Citadel of Criminals: Under VC Folashade Ogunsola, UNILAG Staff Pocketed N397million In Irregular Payments While N434million In Cash Advances Went Unretired,” reportedly appeared on NaijaOnPoint’s website and social media platforms.
In the letter signed by Professor Taiwo Osipitan, SAN, the vice-chancellor accused the publisher of making false and misleading allegations linking her office to alleged financial infractions involving university staff.
Her lawyers argued that the report created the impression that Ogunsola presided over and condoned the alleged misappropriation of public funds.
The vice-chancellor, however, denied engaging in, authorising, participating in or knowingly facilitating any criminal conduct or financial impropriety.
The solicitors maintained that the publication was materially false, misleading and damaging to her personal and professional reputation.
While acknowledging the importance of investigative journalism and responsible reporting on matters of public interest, the lawyers said such reports should be based on verified information rather than unsubstantiated allegations presented as established facts.
They demanded that NaijaOnPoint remove the report from its website and social media platforms, publish an unequivocal retraction and apology, and provide a written undertaking not to republish the allegations.
The legal team warned that failure to comply within 48 hours of receiving the demand letter would prompt civil proceedings against the publisher and other persons considered responsible for the publication.
The proposed suit includes claims for ₦500 million in general damages and another ₦500 million in exemplary damages, bringing the total to ₦1 billion.
The solicitors also indicated that they would seek a court order compelling the removal of the publication and restraining further circulation of the allegations.
As of October 31, 2026, the threatened lawsuit had not been reported as filed in
By staff Reporter Rukevwe Odeh
President Bola Ahmed Tinubu has commended the Economic and Financial Crimes Commission (EFCC) for its role in the arrest and extradition of two Nigerian suspects accused of involvement in international child sextortion crimes.
The commendation followed a letter from the Director of the United States Federal Bureau of Investigation (FBI), Kash Patel, praising the EFCC’s contribution to an international investigation targeting criminal networks involved in the sexual exploitation and extortion of minors.
The investigation, known as Operation Artemis, led to the arrest and extradition of two Nigerian suspects, Adebola Festus Adekunle and Mudasiru Afeez Olawale, to the United States in August 2026.
Both suspects are facing federal charges in the United States over their alleged involvement in the crimes.
Economic and Financial Crimes Commission
In his letter to EFCC Chairman Ola Olukoyede, Patel acknowledged the commission’s assistance, noting that the successful outcome of the cases would not have been possible without its cooperation and commitment to international law enforcement.
Reacting to the recognition, Tinubu praised the EFCC chairman and his team for their professionalism and dedication to combating financial crimes.
The President stressed that Nigeria must not become a safe haven for individuals who exploit innocent people, whether within the country or abroad.
He reaffirmed his administration’s commitment to supporting law enforcement and anti-corruption agencies in identifying, apprehending and prosecuting offenders in accordance with the law.
Tinubu also urged the EFCC and other relevant agencies to sustain their efforts, assuring them of continued government support in tackling financial crimes and strengthening Nigeria’s international law enforcement partnerships.
News
Tompolo Donates 30 Vehicles as Adeleke, Oyetola Back Tinubu’s 2027 Re-election Campaign in Osun
By staff Reporter Rukevwe Odeh
High Chief Government Oweizide Ekpemupolo, popularly known as Tompolo, has donated 30 campaign vehicles and other materials to the PBAT Door-to-Door Movement as political leaders in Osun State rallied support for President Bola Ahmed Tinubu’s re-election in 2027.
The donation is expected to strengthen the movement’s grassroots mobilisation efforts across the state as it intensifies its campaign to secure support for Tinubu and Vice President Kashim Shettima ahead of the 2027 general elections.
Former Osun State Governor and incumbent Governor Ademola Adeleke, alongside former Governor Gboyega Oyetola, were among the political leaders who backed the mobilisation drive.
The campaign initiative, spearheaded by Tompolo, is aimed at expanding the movement’s reach across communities and strengthening support for the Tinubu administration ahead of the next presidential election.
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