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.
News
Wike Explains Why He Rejected Senate Seat After Two Terms as
By staff Reporter Rukevwe Odeh
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has explained why he declined to pursue a Senate seat after completing his eight-year tenure as governor of Rivers State.
Wike said he rejected the opportunity to join the National Assembly because he believed the position would restrict his freedom to express his views on national issues.
The former governor made the disclosure on Friday, October 30, 2026, during the inauguration of a pedestrian bridge constructed by Dunamis International Gospel Centre in Abuja.
According to him, many former governors seek election into the National Assembly after leaving office, but he deliberately chose a different political path.
Wike explained that his decision was informed by his desire to speak freely without the restrictions he believed would come with becoming a senator.
He said he preferred to remain in positions where he could freely express his opinions, particularly on matters concerning the state of the nation.
The minister maintained that he had consistently spoken his mind regardless of the position he occupied.
Wike also urged political and religious leaders to prioritise quality leadership, accountability and service to humanity.
He stressed that leadership should not be measured by political positions or public declarations but by tangible achievements and the positive impact made on people’s lives.
The former Rivers governor further called on Nigerians to assess public office holders based on verifiable accomplishments rather than unverified information circulating on social media.
He commended the leadership of Dunamis International Gospel Centre for investing in infrastructure that promotes public safety and improves the welfare of residents.
The minister’s remarks came during the commissioning of a pedestrian bridge built by the church along the Nnamdi Azikiwe International Airport Road in Abuja.
Wike served as governor of Rivers State from 2015 to 2023 before his appointment as FCT minister.
News
FG Begins ₦50,000 Monthly Cash Support for Vulnerable Nigerians
By staff Reporter Rukevwe Odeh
The Federal Government has commenced a monthly cash assistance programme providing ₦50,000 to eligible vulnerable households to cushion the effects of rising living costs across the country.
The initiative, known as the National Emergency Relief and Stabilisation Intervention (NERSI), is designed to provide immediate financial relief to millions of Nigerians struggling with increasing food prices and the rising cost of essential goods.
Minister of Humanitarian Affairs and Poverty Reduction, Dr Bernard Doro, announced the commencement of the programme in a statement issued in Abuja on Friday, October 30, 2026.
According to the minister, the intervention is intended to help vulnerable households meet essential needs and reduce the financial pressure caused by the rising cost of living.
Doro explained that the programme would be reviewed periodically to reflect changes in living costs, adding that beneficiaries would be notified directly before any adjustments to the payments.
How Beneficiaries Will Receive Payments
The minister disclosed that the government was working with licensed digital financial service providers to ensure secure, timely and transparent disbursement of the funds.
He said eligible beneficiaries would receive text messages requesting their consent before payments are made directly into their bank accounts or mobile wallets.
Doro emphasised that beneficiaries were not required to submit applications, pay registration fees or register through agents to access the intervention.
He also warned Nigerians against fraudsters seeking to exploit the programme, urging them not to disclose their Personal Identification Numbers (PINs) or Bank Verification Numbers (BVNs) to anyone.
The minister advised Nigerians who were uncertain about messages they received or were asked to pay money to access the intervention to contact the official NERSI helpline on 0700-022-2222.
He added that the programme would complement existing federal government social protection and economic support initiatives, while strengthening household resilience and promoting economic stability.
The minister said the intervention was part of President Bola Tinubu’s Renewed Hope Agenda, reaffirming the government’s commitment to delivering financial assistance with transparency and accountability.
The commencement of the programme comes amid continued economic pressures on Nigerian households, particularly from rising food prices and the increasing cost of essential goods.
News
Sowore Alleges Police, DSS Seized CCTV Footage of Ekiti Attack
By staff Reporter Rukevwe Odeh
African Action Congress (AAC) presidential candidate, Omoyele Sowore, has accused the Ekiti State Police Command and the Department of State Services (DSS) of seizing CCTV footage allegedly capturing an attack on him and members of his team in Ado-Ekiti.
Sowore made the allegation during an interview on Channels Television’s Politics Today on Friday, October 30, 2026, where he recounted how about 20 men allegedly attacked him at a restaurant.
According to the activist, the assailants were armed with sticks and bottles and threatened to kill him if he returned to Ekiti State.
He said the incident occurred while he was meeting supporters after an interview with MIDAS FM 90.5 in Ado-Ekiti.
Sowore alleged that the attackers were captured on the restaurant’s CCTV cameras but claimed that security agencies had taken possession of the footage to prevent the identification and prosecution of those responsible.
He also accused the Ekiti State Government of sponsoring the attack, alleging that some of the assailants came from the Government House and received support from DSS operatives.
The activist said he sustained injuries to his face and other parts of his body and was taken to a hospital for treatment.
However, the Ekiti State Police Command gave a different account of the incident, describing it as an altercation between Sowore and some individuals at a restaurant.
The police said operatives responded to an alert, rescued the activist and took him to the Police Hospital in Ado-Ekiti, where he received medical attention.
The command also announced that an investigation had been ordered to establish the circumstances surrounding the incident and identify those involved.
Sowore rejected the police description, insisting that he and his associates were attacked rather than involved in an altercation.
As of the time of filing this report, the police and DSS had not publicly responded to his specific allegation that they seized the CCTV footage. The Ekiti State Government had also not publicly addressed his accusation of sponsorship.
Despite the incident, Sowore vowed to continue his political activities and advocacy, insisting that the attack would not intimidate him.
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