Asianet Pakistan Private Limited

Revisiting or reinstating petrol subsidy in any form would have no meaningful positive impact on the economy, finance and economic experts said yesterday.

They were unanimous in cautioning against any thought of reintroducing subsidy payment, which they warned would destabilise the economy and reserve the steady consolidation being experienced.

Experts described any thought of returning subsidy as a policy reversal that is unviable, unsustainable, sentimental, counter-productive and injurious to the economic growth and national development.

One-time Vice President Atiku Abubakar promised that his administration, if elected, would reinstate subsidy payment.

Incumbent President Bola Ahmed Tinubu had on May 29, 2023, announced the stoppage of payment of subsidy on petrol, promising to re-channel funds hitherto used by the Federal Government to subsidize importers.

Those who bared their minds included Chief Executive Officer, Economic Associates, Dr. Ayo Teriba; Managing Director, Arthur Steven Asset Management, Mr. Olatunde Amolegbe; Managing Director, HighCap Securities, Mr. David Adonri; former Registrar, Chartered Institute of Bankers of Nigeria (CIBN), Dr. Uju Ogubunka, Chief Economist at ARKK Economics and Data Limited, Dr. Samson Galadima Simon, Managing Director, Ambosit Capital Managers, Dr. Wahab Balogun and Dr. Yusha’u Aliyu of the Institute of Professional Economists and Policy Management among others.

They argued that savings from subsidy removal and other incremental incomes from government reforms should be channeled into critical infrastructural development, social welfares and institutional support systems for the needy and the vulnerable citizens.

Teriba, who said that the proposal to reverse subsidy removal was more political than economic, noted that politicians always appeal to their bases for electoral purposes by making populist statements that they will find difficult to implement.

According to him, reinstating subsidy on petrol will discourage investment and kill businesses in the oil and gas sector.

He noted that Dangote Refinery would not be able to thrive as its doing were subsidies on petroleum products not removed.

Teriba said that whatever the government policy is, it must ensure that prices are cost reflective to attract domestic and foreign investment.

He said the question should not be whether subsidy should be given or not, because there will always be subsidy but doing it the right way.

‘The reality is that subsidy will always be there. This government subsidizes CNG buses conversion, electric vehicles and education through soft loans. What I don’t subscribe to is price subsidy. I would prefer giving out coupons to the most vulnerable to enable them buy things that they need most,’ Teriba said.

Amolegbe, a senior investment banker and former president of Chartered Institute of Stockbrokers (CIS), echoed the same sentiment noting that the ship has already sailed on the subsidy issue and it is very unlikely to return for many reasons.

He said: ‘Firstly, our finances as a country cannot accommodate it. Secondly, we now have local refining capacity so who will you be subsidising, a private enterprise? Thirdly, it will cause untold damage to the stable macroeconomic environment we’ve sacrificed to attain in the last few years.

‘Finally, all it will do is take us back to an era where funds that are supposed to be used to build much-needed infrastructure will end up being spent on wasteful subsidies.’

Adonri said reinstatement of petrol subsidy is not a viable and sustainable option.

He said: ‘The economy has already adjusted to the new energy price level because of its flexibility. Reversal of the reform will connote policy inconsistency which is very injurious to economic stability.

‘It will be ironic for a developing economy to subsidize consumption when domestic production of goods is financially hampered. Instead of consumption subsidy, Nigeria needs production subsidy for domestic creation of wealth and generation of direly needed productive employment.

‘Should the reform policy be rolled back for political expediency, it will stifle the allocative efficiency of resources in the financial and energy sectors of the economy.

‘Thinking about reinstatement of petrol subsidy ought to be treated as a monumental economic sabotage. The reform should continue with unrelenting intensity.’

Balogun said a permanent return to the old subsidy would be a poor economic choice because Nigeria had already experienced the enormous cost of keeping petrol prices below their economic value.

He noted that the combined cost of the former petrol subsidy and foreign-exchange subsidy was estimated at about five per cent of Gross Domestic Product (GDP) before the reforms, thus the scale of resources that had previously been absorbed by the subsidy system and could have been deployed to other national priorities.

‘The government does not have free money,’ Balogun said, explaining that every naira spent subsidising petrol represents money that cannot be spent elsewhere unless government raises additional revenue, cuts other expenditure or borrows.

The concern, according to him, becomes more serious because the government is already facing a high debt-servicing burden.

Balogun said borrowing money at high interest rates simply to keep petrol prices artificially low would offer short-term relief but could leave the country with a much larger financial burden in the future.

He, however, underlined the need to ensure the savings from subsidy removals translate into tangible improvements in ordinary people’s lives.

According to him, the removal of petrol subsidy created a major shock that spread far beyond filling stations as higher petrol prices increased transportation costs and affected the movement of food, agricultural production, manufacturing and other economic activities.

‘A reform cannot be judged only by whether it improves government finances. It must ultimately improve people’s lives,’ Balogun said.

Galadima recalled that many economists, as well as international financial institutions, had supported subsidy removal because government was effectively paying a large part of the cost of petrol consumed by Nigerians.

He noted that the argument for removing the subsidy was that the money could instead be used to finance infrastructure, hospitals, schools, roads and other development needs.

He rejected a complete return to the former subsidy system, urging the government to direct part of the gains from subsidy removal towards the poorest Nigerians.

‘What is fair is to channel the gains to the most vulnerable,’ Galadima said.

He suggested that government should develop a credible and transparent social protection system that identifies the poorest households and provides assistance to them.

Galadima said such support should not become another avenue for political patronage or the distribution of money to favoured individuals.

According to him, government should have a reliable register of vulnerable Nigerians and gradually extend assistance to those at the bottom of the income ladder.

He pointed out that government should not expect market reforms alone to distribute economic gains to ordinary citizens.

Galadima pointed to improvements in foreign exchange reserves, the capital market and other macroeconomic indicators, saying that although such developments could be beneficial to the economy, they were difficult for an average Nigerian to connect with his or her daily experience.

‘What people need to see is food becoming more affordable and infrastructure improving,’ Galadima said.

He cited visible improvements such as better roads and public infrastructure as examples of government actions that citizens could directly associate with economic reforms.

Aliyu argued that the Petroleum Industry Act of 2021 had already provided the legal framework for ending the subsidy regime, meaning that any attempt to bring back the former system would involve significant legal and political considerations.

‘Before subsidy is reintroduced, the PIA must be repealed,’ Aliyu said, arguing that the issue could not simply be settled through a political announcement.

According to him, any attempt to restore subsidy would require consideration by the National Assembly as well as a review of the legal framework governing the petroleum sector.

Aliyu also expressed concern about the exchange-rate regime and the ability of Nigeria’s state-owned refineries and the Nigerian National Petroleum Company Limited (NNPCL) to operate efficiently.

He said these issues were important because the cost of petrol in Nigeria is closely connected to crude oil prices, exchange rates, refining capacity and the efficiency of the petroleum supply chain.

Ogubunka faulted former Vice President Atiku Abubakar for promising to return subsidy payment on petrol.

‘At his level, he does not know whatever the impact of subsidy removal or return is. When we talk of the impact of subsidy removal on the masses, he may not be the right person to judge,’ Ogubunka said.

He pointed out that economic statistics point to improvement on economic growth in post-subsidy era, adding that steps should now be taken to ensure that positive impact of the subsidy removal gets to the ordinary people.

He said that discussions on best ways to manage and support the masses should be held between the people and government.

Nigeria’s national netball team has intensified preparations for the 2027 Netball World Cup African Qualifier, with the players currently training in London under head coach Alison Akinrinsola.

The Nigeria Netball Federation is working to prepare a competitive squad capable of securing one of the available qualification places when the African qualifiers take place in Nairobi, Kenya, from September 19 to 26, 2026.

The tournament will be held at the Kasarani Indoor Arena, with Nigeria among 10 African countries expected to compete for two available World Cup qualification places.

President of the Nigeria Netball Federation, Dr Oluwatoyin Aluko, said the federation was putting measures in place to ensure the team is properly prepared for the continental competition.

The Nigerian players have already gained valuable international exposure after featuring in friendly matches against Jamaica, Pakistan and Scotland before the 2026 Commonwealth Games in Glasgow last month.

Those matches gave the squad the opportunity to test itself against stronger opposition and experience different styles of play ahead of the Nairobi qualifier.

The current training camp in London is focused on improving combinations within the squad while working on the physical, technical and mental aspects of the players’ preparation.

Aluko also stressed the importance of improving the technical foundation of netball in Nigeria.

‘We are putting in a lot of effort to equip the coaches and umpires,’ Aluko said.

As part of the federation’s development programme, coaching and umpiring clinics have already been held in the South-South and South-East zones. The South-West clinic is scheduled for the final week of August, while the Northern Zone programme will take place in the first week of September.

The programme is aimed at improving coaching standards, strengthening officiating and creating a better development pathway for players across the country.

Nigeria will face a strong field in Nairobi, including South Africa, Uganda, Kenya, Malawi, Zimbabwe, Namibia, Zambia, Botswana and Tanzania.

South Africa and Uganda have already secured qualification for the 2027 Netball World Cup through the World Netball ranking-based route, leaving the remaining African teams to fight for the available places in Nairobi.

The 2027 Netball World Cup will be held in Sydney, Australia, from August 25 to September 5, 2027.

President Bola Ahmed Tinubu yesterday took a swipe at former Vice President Atiku Abubakar over his pledge to reverse the removal of petrol subsidy if he is elected in the January 16 presidential election.

Atiku, presidential candidate of the African Democratic Congress (ADC), said he would restore subsidy on fuel, adding that the funds freed for use as a result of subsidy withdrawal could not be traced.

The Presidency also knocked Atiku, describing his position as an about-turn on the issue out of desperation for power.

Tinubu described the position as a demonstration of ‘serious ignorance’ about governance and the economy.

The President spoke while receiving the re-elected Governor of Osun State, Ademola Adeleke, at the State House, Abuja.

He said the abolition of the subsidy regime had strengthened the finances of states and enabled them to meet their obligations.

‘I saw one of my opponents now say he will go back to subsidy. I read it. That is a demonstration of serious ignorance on governance and economy.

‘Before I came here, 27 states were unable to pay salaries, not to even talk of pensioners, salary of workers. In your state, I know a man that I raised… who’s nicknamed ‘half salary’.

‘They come to the federal, cap in hand, unable to do anything. The salaries you pay feed families. They (workers) are at the local governments; they are in the states. Where is the concentration of population? It is in the states,’ Tinubu said.

The President’s remarks came against the backdrop of Atiku’s declaration that he would reverse the removal of fuel subsidy if elected President, reopening debate over one of the most consequential economic decisions of the Tinubu administration.

At his inauguration on May 29, 2023, Tinubu boldly and courageously declared: ‘Fuel subsidy is gone.’

Tinubu told Adeleke that increased resources available to states should translate into tangible improvements in the lives of ordinary Nigerians, particularly through payment of salaries and investment in infrastructure and social services.

According to him, state governments bear substantial responsibility for the welfare of Nigerians because much of the population lives within communities where state and local governments are responsible for providing essential services.

‘Take out the president, regard every other person as common men; they have families to feed.

‘The infrastructure you embark upon, the road network, housing, school rehabilitation, resuscitation of healthcare, training of teachers, training of health workers to protect our vulnerable families – they’re part of your responsibilities,’ he said.

Atiku vows to restore petrol subsidy, questions N15.8tr savings

African Democratic Congress (ADC) presidential candidate Atiku backtracked on his position on fuel subsidy removal.

Although he vowed to dismantle the subsidy regime during his campaigns four years ago, he said he could not sustain his previous stance because the proceeds had allegedly been mismanaged.

The three major presidential candidates in 2023 – Tinubu (All Progressives Congress), Atiku (Peoples Democratic Party (PDP) and Peter Obi, then of the Labour Party – promised to remove fuel subsidy because of the corruption associated with it.

Atiku, who promised to restore subsidy during a Hausa-language online interactive session, queried how the funds generated from the subsidy removal had been utilised by the Federal Government.

He said: ‘I did not oppose the removal of the oil subsidy, but where is the money? Where did it go? It was intended to reduce poverty and help children attend school. Where is the money now? It seems they are just stealing it.’

He promised to reinstate the subsidy while pursuing the recovery of funds allegedly misappropriated, if he wins.

Atiku said: ‘If elected, I will bring back the oil subsidy, and whoever stole the money must refund it.’

He said the removal of the subsidy would have been easier for Nigerians to accept if the savings had been channelled into critical areas, including security, education, job creation and expanded opportunities for young people.

Atiku said: ‘The government successfully removed the subsidy, but we do not know where the money went.

‘If they had used the money for development, to solve security problems, for education, and to create opportunities for the youth, it would be different. If elected, I can remove the subsidy and use the money to do all these properly.’

In the last three years, N15.8 trillion has accrued to the country following the subsidy removal.

The Federal Government explained that, due to the surge in revenue, more funds had been channelled towards developmental projects while the money shared among the three tiers of government had increased exponentially.

The minister said N5.4 trillion went to the Federal Government and N10.4 trillion was shared between the state and local governments.

On the part of the Federal Government, Oyedele said N30.64 trillion was spent on additional expenses over the same period, with the largest portions going to public-sector wages, debt servicing and infrastructure.

Oyedele’s scorecard showed that N9.39 trillion was spent on wage adjustments, minimum wage increases and allowances for public servants.

Another N9.37 trillion went into servicing external debt following the impact of exchange-rate depreciation, while N6.5 trillion was spent on strategic infrastructure.

Presidency: desperation for power behind Atiku’s subsidy U-turn

The Presidency attributed Abubakar’s proposal to restore petrol subsidy to desperation for power, accusing him of abandoning his long-held economic position five months to the presidential election in an attempt to win popular support.

It said Atiku, who had campaigned for the elimination of petrol subsidy ahead of the 2023 general election, had now reversed himself by promising to reinstate a system he once acknowledged should be abolished.

Special Adviser to the President on Information and Strategy, Bayo Onanuga, made the assertion in a statement titled, ‘Restoring petrol subsidies: Atiku’s volte-face and desperation for power’.

According to the Presidency, Atiku’s change of position was driven by political expediency rather than sound economic considerations, arguing that the former Vice President was making a promise he should know was fiscally unsustainable and contrary to Nigeria’s current petroleum-sector realities.

‘It is not difficult to explain why Atiku has latched onto the abandoned subsidy regime, five months to the election. Desperate for power, he needed to make a promise that he knew, if he were candid with our people, does not make fiscal sense, is retrogressive, and is against the genuine interest of the people,’ Onanuga said.

It accused him of opportunistically recanting what had been a major plank of his economic programme, rather than presenting what it called a creative alternative to the policies of the President Bola Tinubu administration.

Onanuga, however, acknowledged Atiku’s constitutional right to change his position and propose alternative policies, but said Nigerians were entitled to demand explanations about how the proposed subsidy would be funded and implemented.

The Presidency also disputed Atiku’s claim that the Federal Government had accumulated N30 trillion in subsidy savings, saying no such fund existed.

It explained that the previous subsidy arrangement essentially involved the Nigerian National Petroleum Company (NNPC) selling petrol below its supply cost, thereby accumulating under-recoveries and losses.

According to Onanuga, trillions of naira in subsidy costs incurred under the old arrangement remained in the NNPC’s books.

‘Contrary to Atiku’s claim in his interview, no N30 trillion subsidy windfall or savings exists anywhere except in his imagination,’ he said.

The Presidency further argued that returning to the pre-2023 subsidy system would encounter legal and structural obstacles because the Petroleum Industry Act (PIA) had established a market-oriented framework for the downstream petroleum sector.

It said the PIA had already provided for subsidy removal by the end of June 2023, maintaining that Tinubu’s announcement on May 29, 2023, merely brought forward the implementation by a few weeks to halt further financial losses.

Onanuga said reinstating subsidy could therefore not be achieved merely by announcing a lower petrol price, but would require a clear legal, fiscal and administrative framework, including identification of the source of funding.

The Presidency also said Nigeria’s petroleum industry had changed fundamentally since 2023, particularly with the emergence of substantial domestic refining capacity.

It cited the Dangote Refinery as a major source of locally refined petrol, contending that its production for domestic consumption was facilitated by the market-driven environment created after subsidy removal.

According to Onanuga, restoring the old subsidy arrangement could reverse the progress made in local refining and threaten the viability of smaller domestic refineries.

‘Atiku’s proposal portends a reversal of current local production, and it will spell bankruptcy for smaller local refineries like Aradel’s, causing attendant job losses and a loss of foreign exchange,’ he said.

The Presidency recalled that under the former subsidy system, government absorbed the difference between regulated pump prices and the actual cost of supplying petrol, imposing substantial and often unpredictable costs on public finances.

It said the government had at various times resorted to borrowing and other financing arrangements to sustain the system, including pledging millions of barrels of crude oil against loans.

Onanuga added that the NNPC had reached a breaking point in 2024, owing suppliers billions of dollars.

Wike: Opposition is dead, says Wike

Minister of the Federal Capital Territory (FCT), Nyesom Wike, berated Atiku for regressing into ‘voodoo economics’, saying that his shifting stance on the critical economic issue demonstrated a lack of genuine commitment to the nation’s welfare.

The minister, who spoke with reporters while inspecting some projects in Abuja, accused Atiku of desperation for power.

He said: ‘Leadership is about integrity and consistency. Atiku is confused, and acts like a voodoo economist. Atiku will say anything just to be president.

‘This was a man in 2023 who said he was going to remove the fuel subsidy because it was a fraud. Now in 2026, he was not going to remove the fuel subsidy.

‘Is he going back to the fraud which he had alleged that fuel subsidy was? We should be able to be consistent in what we sell to our people. That is what leadership is all about.’

The minister urged Nigerians to disregard politicians who play to the gallery, insisting that the policy decisions taken by President Tinubu to eliminate the subsidy regime were bold and necessary to rescue the nation’s economy.

The Federal Government has assured that work will soon resume in earnest on the Bida-Lapai-Lambata Road project in Niger State to address the road’s deplorable condition, save lives and property, and tackle the lingering insecurity along the corridor.

The assurance was given during a meeting between the Minister of Works, David Umahi, and a delegation of stakeholders under the aegis of the Coalition of Niger South Development Associations, led by the member representing the Bida/Gbako/Katcha Federal Constituency of Niger State, Hon. Sa’idu Musa Abdullahi, during a courtesy visit to the Minister in Abuja.

The lawmaker reiterated the need for the Federal Government to complete the project, citing its socio-economic importance and the need to address the security challenges affecting communities along the axis.

In his address, the Chairman of Bida Forum, Mallam Muhammad Jameel Muhammad, who spoke on behalf of the coalition, said they had come to appeal for the Minister’s urgent intervention to address the challenges residents had faced on the road for decades.

He said, ‘The first one, sir, is now because of the way the road is. In fact, very close along the stretch, articulated and heavy trucks, so we’re requesting the first one is emergency remedial work on the bad spots, but at least the road will be passable.

‘The second is… all that we want in the next two months: let’s begin to see something on the ground, mobilisation to the site, let the contractors.

‘And the third is that we want to have a monitoring team, community representation. At least, we will be able to interface with the team. We are not saying we are going to interfere with the technical, but we will support that in terms of community relations. What do they need, and what can we do to speed things up?

‘And lastly… it’s important to us. People have said it; we have seen it in the past: that road has been a political campaign tool. So this time around, it shouldn’t be about political approval. We want the job done.

‘We have had governments that have come to do the same. We have even mentioned some. Some will even say that they are doing groundbreaking, but afterwards nothing happened.

‘Honourable Excellency, this is our request, and we will be so much happier, and we’ll be able to calm the frustration of people back home. People will go back today with a certain level of commitment, not promises. Promise and action with a clear timeline.’

In his remark, the Minister of State for Works, Bello Mohammed Goronyo, who received the delegation on behalf of the Minister, commended the lawmaker for his commitment to his constituents.

He said, ‘Sa’idu, you have shown a lot of commitment to your people. The Honourable Minister has already said it: you are a lover of your people. Just keep it up, because God is there to continue to support you.

‘Niger South is the home of my brother-in-law. I know a lot of people from Lapai, and I’m sure when we go there, the Minister will really fulfil this very important pledge that he made.’

‘He has been talking about this Niger for a very long time, and he said we should find time to go there and do the groundbreaking. And I want to tell you that my minister is the type of person who will not just come and give you empty promises. If he will do it, he’ll do it. Take it, or you leave it.

‘And we are lucky in this country to have somebody like you. So we commend you, sir, for your leadership, for your resilience, even though there are some bad eggs that are there.’

On his part, the Minister of Works, David Umahi, said the Federal Government was committed to carrying out projects in Niger State because of concerns raised by the condition of the roads, particularly the frequent incidents of trucks falling along the corridor.

He said the pressure from stakeholders, including Hon. Abdullahi, the Niger State governor, the Minister of Information and Senator Musa, had also contributed to the government’s renewed attention to the project.

He added, ‘Because of the pressure, I went to Mr. President. I said, please, you have so much in your hands. Can we allow that? … President said, if we do it, it will help, and the insecurity within that corridor will be eliminated.’

The Minister further disclosed that important road projects were being undertaken in Niger State through tax credits, including two projects recently awarded.

He said, ‘The greatest beneficiary of the NMP’s tax credit is in Niger State. So both Niger State and the entire South-South constitute 51% of the entire tax credit.

‘President Bola Ahmed Tinubu does not, you know, make a political statement, you know, as far as roads and bridges are concerned. When we came on board, we had it in 2068, you know, but it’s totally over 13 trillion Naira, and with the removal of subsidy and with the removal, the floating of Naira, your guess is as good as mine, what the cost of this project will be.

‘At that time, a kilometre of road was costing about N500 million.

‘Today, a kilometre of road, standard average, with no swampy area, or without pits, you know, is costing between 2.5 million. So you can imagine if you multiply, you know, that, you know, 13 trillion, you multiply by six, you know, find out what the cost will be.

‘And the president has been very intentional in helping this country.

‘He’s been very intentional in funding the roads and the bridges. Every part of this country became a construction site.’

The 2026 NPFL Super 6 Invitational Pre-Season Tournament continues today with two matches scheduled for Matchday Three.

Mighty Jets FC will take on Katsina United at 2pm before Plateau United FC face Rangers International at 4pm.

Both matches are expected to provide another opportunity for the participating clubs to assess their squads and fine-tune their preparations ahead of the new NPFL season.

The tournament has brought together six clubs divided into two groups, with the competition also serving as an important pre-season exercise before the commencement of the league campaign.

Chairman of the House Committee on NELFUND, Ifeoluwa Ehindero (APC-Ondo), said on Friday that the policies and programmes of the Tinubu administration have paved the way for the actualisation of the long-awaited better Nigeria by creating opportunities for youths and strengthening key institutions.

Ehindero spoke just as the Minister of Youth Development, Ayodele Olawande, said that about 239,726 young Nigerians have so far been equipped with digital and practical skills through the Nigerian Youth Academy (NiYA), while over 1.2 million certificates have been issued to young people showing up to build.

Speaking at the presentation of a book titled ‘No More Future: Why Waiting Is Over, What to Build Instead’ authored by a young Nigerian, Mr Christopher Olusa, at the National Assembly Complex in Abuja, Ehindero said Tinubu’s administration had shown, through concrete action, that the future is indeed something to be built and not merely being awaited.

He drew attention to the gains in the education sector through the establishment of the Nigerian Education Loan Fund (NELFUND), which he said has opened the doors of tertiary education to thousands of Nigerian youths who would otherwise have been locked out by financial constraints.

He said the landmark Tax Reform introduced by the President has begun to reposition Nigeria’s revenue architecture for efficiency, fairness, and long-term national prosperity.

According to him, through the pursuit of local government autonomy, President Tinubu demonstrated a firm commitment to deepening democracy and ensuring that development truly reaches the grassroots.

He said policies, including the ongoing constitutional amendment to create state police, were part of Tinubu’s approach to actualise the much-desired better future for Nigerians.

‘These are not promises for tomorrow; they are foundations being laid today. It is this same spirit of building rather than waiting that we celebrate in Christopher Olusa’s work.

‘The book is a powerful call to action; it reminds us that the future is not something we should merely wait for; the future is something we must actively create.

‘For too long, many young people have been encouraged to wait for government, for opportunities, for employment, for someone to discover them, or for circumstances to become perfect.

‘The reality is that nations are transformed when their citizens move from expectation to action, from dependency to enterprise, and from complaining about the future to building it,’ he said.

Minister for Youth Development, Mr Ayodele Olawande, represented by Dotun Omoleye, urged Nigerian youths to take advantage of government policies and programmes to build a desirable future for the country.

He said that the era of waiting for the government to fix things before building, waiting for the right connections before starting, and waiting for permission to become what we already have the capacity to be is over.

The minister said that Nigeria’s greatest asset is not what exists under that soil, but what is inside young people, adding that through the Renewed Hope Agenda, President Bola Tinubu inaugurated the Nigerian Youth Academy (NiYA) to equip youths with relevant skills.

The minister said Nigeria does not lack potential, but sometimes lacks the collective courage in young people to stop waiting and start building.

According to him, the book is a call for that courage; the government’s investment in young people is a call to that courage, and I believe that this generation is finally ready to answer it

The minister said that seven million young Nigerians have been trained, and five million new jobs have been created.

‘Through NiYA StartUp, 200 young business owners have each received one million naira, and a further 200 young Nigerians working in the informal sector have received a N500,000 grant each.

‘Just this month, we are pairing 20 early-stage entrepreneurs with intensive investment-readiness training, mentorship, and non-dilutive funding of up to five million naira each.

‘Government is repositioning NYSC from a routine rite of passage into a genuine platform for skills acquisition, entrepreneurship, and productive engagement after service.

‘To young people in this room, and to the many more who will read this book: the Renewed Hope Agenda has opened a door that did not exist for the generation before you.

‘What you do with that open door is the story that has not yet been written. Christopher has given you a framework. The Ministry of Youth Development will continue to give you platforms, capital, and training, but the actual building of your future remains yours to do,’ he said.

Book reviewer, Prof. Jerry Ugokwe, said many people have treated the future as a destination, or something will happen or be given, stressing that the book has destroyed that illusion that presents the future as what one waits for, rather than something to build.

According to him, we live in a generation of extraordinary contradiction, as this generation has more access to information but still struggles with direction.

‘One of the most compelling strengths of this book is its intellectual honesty. It does not romanticise the Nigerian condition, nor does it weaponise victimhood. Instead, it balances realism with responsibility.

‘The systemic issues are acknowledged- educational gaps, economic volatility, institutional delays but the reader is not allowed to hide behind them.

‘The message is clear: you may not control the system, but you are responsible for your response to it,’ he said.

Speaking in an interview, the author said the book is a product of research and the collection of personal and societal experiences.

Olusa said young people have been taught to wait, and the societal structure keeps them waiting for a bright future.

‘We are expected to wait, and what happens after that is disappointment; so this is put together to help young people; instead of waiting, they can start and build.

‘Life is a process; if we sit down and expect something we did not work for, we will get disappointed at the end of the day.

‘My charge to young people is that they should build. This book challenges the culture of waiting. The future is not something we just move into; it is something we have to build. If you don’t build it, do not expect it,’ he said.

Newly promoted Coventry City will launch their Premier League campaign tonight at the Emirates Stadium with new marquee signing Taiwo Awoniyi targeting a statement debut against defending champions Arsenal.

The former Nottingham Forest forward, who completed his move to Coventry to bolster Frank Lampard’s attack, is set to spearhead the Sky Blues’ frontline in their first top-flight fixture in 25 years.

Speaking at the club’s Ryton training ground ahead of the curtain-raiser, Awoniyi made no secret of his intentions for the campaign ahead:

I think for sure, goals. Like I said, goals. And hard work as well. To give everything for them,’ Awoniyi said.

The 29-year-old Nigerian international, who described himself as a ‘quiet dreamer’ inspired by his father, also shared light-hearted insight into his life offline. Asked to name the most high-profile contact stored in his phone, Awoniyi pointed to Super Eagles teammate and Galatasaray forward Victor Osimhen.

‘Oh, Victor Osimhen. Of course, Osi-goal, number one!’ he laughed.

Reflecting on his career path, Awoniyi cited his FIFA U-17 World Cup title with Nigeria and his move into the Premier League as his crowning moments so far – a standard he hopes to build on when Coventry face Mikel Arteta’s side in London.

Arsenal enter the opener buoyed by a 3-0 Community Shield win over Manchester City, but Lampard’s side will be eager to write a new chapter on their top-flight comeback. Kick-off is scheduled for 20:00 WAT.

President Bola Ahmed Tinubu has congratulated Maryam Ibrahim Dan’ Azumi of Gombe State on her emergence as winner of the women’s category at the 46th King Abdulaziz International Qur’anic Competition in Makkah, Saudi Arabia.

The President described the feat, which saw the Nigerian beat contestants from 132 other countries to win a 300,000 Saudi Riyal prize, equivalent to about N120 million, as a remarkable achievement that has brought immense honour to the country.

In a statement on Friday, President Tinubu said Maryam’s performance at the prestigious international competition demonstrated the excellence, discipline, dedication, and intellectual capacity of Nigerian youths.

Maryam competed in the highly competitive category covering memorisation of the entire Holy Qur’an, recitation, Tajweed and interpretation of all 60 Hizb with Tafsir.

The President said her victory was not merely a personal triumph but a source of national pride, noting that she had placed Nigeria prominently on the global stage through her mastery of the Holy Qur’an.

‘Maryam Ibrahim Dan Azumi’s victory in the highly competitive category covering memorisation of the entire Holy Qur’an, recitation, Tajweed and interpretation of all 60 Hizb with Tafsir is a remarkable achievement that has brought immense honour to Nigeria and further demonstrated the excellence, discipline, dedication and intellectual capacity of Nigerian youths.

‘She has made Nigeria proud. Her achievement in Makkah is a powerful testimony to what our young people can accomplish when talent is matched with discipline, faith, hard work and dedicated mentorship’, Tinubu said.

The President also recalled the achievement of Maryam’s elder sister, Hajara Ibrahim Dan Azumi, who emerged first in a similar Qur’anic competition in Jordan in 2024, describing both sisters as an inspiration to young Nigerians.

He particularly commended their parents, teachers and mentors, as well as others who contributed to their development, saying their accomplishments reflected the sacrifice and commitment required to attain an exceptional level of Qur’anic scholarship.

Tinubu also expressed appreciation to the organisers of the King Abdulaziz International Qur’anic Competition and the authorities of the Kingdom of Saudi Arabia for providing an international platform for promoting excellence in Qur’anic memorisation, recitation, understanding and scholarship.

The President reaffirmed his administration’s commitment to initiatives aimed at nurturing the intellectual, moral and spiritual development of young Nigerians and creating opportunities for them to distinguish themselves at home and abroad.

‘On behalf of the Government and people of Nigeria, I congratulate Maryam on this remarkable victory. May Almighty Allah continue to guide, protect and increase her in knowledge and wisdom, and may her achievement inspire many more young Nigerians to pursue excellence,’ he said.

Tinubu wished Maryam continued success in her Qur’anic scholarship and future endeavours.

The traditional ruler of the Ikate-Elegushi kingdom, Eti-Osa, Lagos State, Oba Saheed Ademola Elegushi, has congratulated the Olu of Warri kingdom, Ogiame Atuwaste III, on his fifth anniversary on the throne.

In a statement from his Special Assistant on Public Affairs, Temitope Oyefeso, the monarch described the Olu of Warri as a dynamic king who has brought innovative ideas and purposeful leadership to the Warri kingdom, resulting in increased development in the ancient city of Warri and among its people over the past five years.

Oba Elegushi said, ‘In the last five years, I have watched with admiration the purposeful leadership you have provided for your people and how you continue to inspire and support them towards making life better for your people; this you often emphasise in our various interactions over the years.’

He added that the Olu of Warri is a bridge builder, continuing to extend a hand of friendship to other traditional rulers across the country, contributing to national development and promoting peace among all Nigerians, regardless of tribe or religion.

Oba Elegushi prayed that the reign of Ogiame Atuwatse will continue for many years and that his impactful leadership will continue to benefit the Warri people and Nigerians in general.

The Citizens Forum for Energy Accountability and Development (CFEAD) has commended the leadership of the Nigerian National Petroleum Company Limited (NNPC Ltd.) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for what it described as progress in restoring confidence, increasing production and attracting fresh investment into Nigeria’s oil and gas sector.

The group said recent developments announced by NNPC Group Chief Executive Officer, Bayo Ojulari, and NUPRC Commission Chief Executive, Oritsemeyiwa Eyesan, showed that sustained institutional reforms and stronger operational discipline could reposition the petroleum industry as a driver of economic growth.

In a statement issued on Thursday and signed by its Executive Director, Patriot Unazi Gideon, CFEAD said the reported $20 billion worth of gas sale and purchase agreements secured by NNPC in the past year represented a significant vote of confidence in Nigeria’s energy market.

‘The signing of gas sale and purchase agreements worth more than $20 billion is not simply a commercial achievement for NNPC. It is a strong signal to the international investment community that Nigeria remains open for business and is capable of providing the policy direction, resources and commercial opportunities required for long-term energy investments,’ Gideon said.

Ojulari had disclosed that the agreements covered 1.29 billion standard cubic feet per day of long-term LNG feed gas and 750 million standard cubic feet per day of domestic industrial gas supply to DFL FZE and Dangote Refinery, with seven additional commercial transactions in the pipeline.

The group also praised NNPC for reducing operating costs by $3.4 billion through contract restructuring and optimisation, while recording a six percent increase in crude oil production and an 8.1 percent increase in gas production.

CFEAD said the reported increase in crude production to about 1.71 million barrels per day, the highest level in five years, was particularly significant given the challenges that have historically constrained Nigeria’s petroleum output.

‘The increase in crude production to about 1.71 million barrels per day should matter to every Nigerian because production is directly connected to national revenue and economic stability. When the industry produces more efficiently, the country has greater capacity to earn revenue, fund public services, support infrastructure and create opportunities for businesses and workers,’ Gideon declared.

The group also highlighted the record production of 365,000 barrels per day by NNPC Exploration and Production Limited and the reported 98 percent average recovery across NNPC’s five crude oil export terminals between April 2025 and May 2026.

According to CFEAD, such improvements were evidence that operational efficiency could recover value previously lost through production disruptions, infrastructure challenges and inefficient processes.

It said the performance of the NUPRC was equally deserving of recognition, particularly its role in implementing policies designed to unlock investments in deep offshore oil and gas projects.

The group welcomed the Deep Offshore Oil and Gas Project Incentives (Tax Remission) Executive Order 2026, which the NUPRC said could unlock about $50 billion in investments and increase crude oil and condensate production by an additional one million barrels per day over the coming years.

‘The deep offshore incentive is potentially transformative because it addresses one of the biggest problems facing the petroleum industry: the enormous capital requirement and long investment cycle associated with offshore developments. If properly implemented, the policy can unlock projects that have remained on the drawing board, attract billions of dollars in capital and create thousands of direct and indirect jobs,’ the statement said.

CFEAD said the projected additional production should also be viewed within the broader context of Nigeria’s economic needs, arguing that increased output must ultimately translate into tangible improvements in citizens’ lives.

‘The real test of every petroleum reform is not how impressive the figures look at a conference. The real test is whether the benefits eventually reach the ordinary Nigerian. More production should mean stronger government revenue, more jobs, greater energy security, increased industrial activity and a more stable economy. Nigerians must be able to feel the impact of these reforms beyond the oil industry,’ the statement reads.

The group specifically identified the $10 billion Bonga South project, expected to commence production in 2027, as an example of the scale of investment that could emerge from a more predictable regulatory environment.

It said the wider benefits of deep offshore developments could extend beyond crude production to the marine economy, logistics, engineering, technology transfer and skills development.

‘Projects such as Bonga South are important not only because of the barrels they will produce but because of the ecosystem they can create around them. Nigeria needs a petroleum industry that builds Nigerian expertise, strengthens local businesses, develops technology and creates sustainable employment rather than one that simply extracts crude and exports value,’ Gideon said.

CFEAD urged NNPC and NUPRC to sustain the reform momentum while ensuring that transparency, accountability and institutional independence remain central to their operations.

The group also called on oil-producing communities, operators, investors, security agencies and other stakeholders to support efforts to increase production and attract investment.

‘Nigeria cannot afford another cycle of reform followed by policy reversal. The progress currently being recorded must be protected from political interference, institutional rivalry and unnecessary bureaucracy. What the country needs now is consistency, transparency and collective support for reforms that are delivering measurable results,’ he stressed.

The group said the achievements recorded by NNPC and NUPRC should encourage the Federal Government to deepen reforms across the petroleum value chain and maintain an investment-friendly environment.

It also urged the two institutions to communicate their achievements more effectively to citizens, arguing that public understanding and confidence were essential to sustaining support for the reforms.

‘Nigerians have heard promises about the oil sector for decades. What makes the current moment different is the emergence of measurable indicators of recovery in production, investment and operational efficiency. We commend the leadership of NNPC and NUPRC, but we also expect them to remain accountable to the Nigerian people and ensure that the gains being recorded become a foundation for broader prosperity,’ the group emphasised.