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Buhari sets deadline for fuel subsidy removal
Buhari sets deadline for fuel subsidy removal
The Minister of Finance, Zainab Ahmed, has disclosed that President Muhammadu Buhari has set June 2023 as the date for the removal of fuel subsidy.
Ms Ahmed disclosed this while appearing Thursday before the House of Representatives ad hoc committee investigating the fuel subsidy regime from 2013 to 2022.
She explained that if Mr Buhari’s regime continues to service the subsidy, the country will spend N6.4 trillion annually.
Mr Buhari’s new deadline for removing fuel subsidy will be a month after he hands over to his successor in May 2023, leaving the new leader to deal with any backlash and commotion that may follow the decision.
“One thing that stands out in the Medium Term Expenditure Framework was that if the nation holds on to fuel subsidy as it is designed now, we will be incurring from January to December a subsidy cost of N6.4 trillion,” the minister pointed out. “But we suggested to the Federal Executive Council, and the council approved that, maybe, we could look at the option of exiting the subsidy (regime) half year. So, if we did that, then the cost would be N3.35 trillion, which is half of the N6.7 trillion.”
The FEC, she stated, approved the second option.
“That is the option that was conveyed by His Excellency, the President, to the National Assembly. But Let me also say that even though this is a reduced option, it would mean that we are borrowing more than we would have borrowed if we did not have fuel subsidies,” Ms Ahmed further stated. “In 2022, we are carrying the cost of subsidy throughout the whole year.”
The minister also mentioned that the N3.35 trillion earmarked for servicing subsidies in 2023 until June, as outlined in the approved MTEF, was being considered by the National Assembly.
Ms Ahmed defended the decision stressing that subsidy funds could have been used to support other critical sectors such as social protection, health care, and education.
The minister, therefore, suggested a national summit on the subsidy regime.
Last November, Mr Buhari’s regime said it would remove fuel subsidy by June this year and provide “deserving” Nigerians with a N5,000 monthly transport allowance, which the NLC described as “comical.”
Following the rejection, Mr Buhari approved an 18-month suspension of the planned removal of fuel subsidy in January.
Aare Adetola Emmanuel King Congratulates Hon. Adesola Ayoola-Elegbeji on Election Victory
The Chairman/CEO of Adron Group, Sir Aare Adetola Emmanuel King KOF, has congratulated Hon. Adesola Ayoola-Elegbeji on her resounding victory in the just-concluded by-election for the Remo Federal Constituency seat in the House of Representatives.
In a goodwill message issued by him, he described the victory as “a historic moment for the Remo people, coming at a time when the constituency yearns for a leader with vision, courage, and genuine commitment to service.”
He noted that the outcome of the election was an attestation to the trust and confidence reposed in Hon. Ayoola-Elegbeji by the people, adding that her sterling qualities, integrity, accessibility, and compassion for the grassroots had endeared her to the electorate.
“The overwhelming support you garnered at the polls is proof that you are the right voice at the right time to carry the aspirations of Remo to the national stage,” he stated.
While acknowledging that the by-election followed the painful demise of the late Hon. Adewunmi Oriyomi Onanuga (Ijaya), Aare Adetola Emmanuel King said Hon. Ayoola-Elegbeji’s emergence symbolizes the continuity of purposeful representation. He expressed confidence that she would not only sustain the legacy of her predecessor but also surpass it with new energy, innovative ideas, and progressive leadership.
The Adron Group Chairman further prayed for divine wisdom, strength, and compassion for the Member-Elect as she assumes office, expressing confidence that her tenure will usher in meaningful development, economic empowerment, and greater opportunities for the people of Remo Federal Constituency.
Olowu Celebrates Former Military President, Ibrahim Babangida, At 84
Olowu of Kuta, HRM Oba Dr Hammed Oyelude Makama, CON, Tegbosun III, has congratulated former military president, Gen Ibrahim Badamasi Babangida, rtd, who is 84 today.
Olowu, in a statement he signed, eulogised the former military ruler for his modest achievements while he was in power.
According to Olowu, ” IBB is an enigma. He has carved a niche for himself as a former military president. His tenure witnessed the completion of many monumental legacy projects that are still visible today. His Hill Top Mansion in Minna has become a Mecca of sorts for those who aspired to lead Nigeria.”
Olowu, who described Gen Babangida as being grossly misunderstood, said history would be kind to him.
He said, “The launch of Gen Babangida’s Autobiography: ‘A Journey In Service’, and the testimonies from the likes of President Bola Ahmed Tinubu and Africa’s richest man, Aliko Dangote, Tony Elumelu, Jim Ovia, Abdusalam Rabiu, Oil Magnate, Arthur Eze, and many others, testified to his goodwill despite leaving public office three decades ago.
” On behalf of myself, my Oloris and Olowu-In-Council.
All members of the defunct IBB Vision 2003 and Vision 2007, I wish President Ibrahim Babangida, rtd, a happy birthday. I also wish him all the best as he aged gracefully,” Olowu added.
Born on August 17, 1941, Gen Ibrahim Babangida, rtd, ruled Nigeria from 1985 to 1993.
His presidency was marked by significant political and economic reforms.
A new dawn breaks over Agunjin — a moment etched in gold in the annals of history — as the crown of the Ariwajoye Adekeye Royal Dynasty returns to its rightful home. With this homecoming, the living legacy of Agunjin’s royal heritage is renewed, strengthened, and destined to shine for generations to come.
The proud sons and daughters of Agunjin welcome His Royal Highness, Oba Isiaka Babatunde Malik Adekeye, Ariwajoye III of Agunjin Land, with joy, reverence, and boundless hope for the future.
A distinguished Nigerian based in New York, Oba Adekeye is a dynamic and accomplished professional whose illustrious career spans cinematography, international trade, and hospitality. Born into the revered Ariwajoye Adekeye Royal Family of Agunjin, in Ifelodun Local Government Area of Kwara State, His Royal Highness now carries forward an ancestral legacy steeped in honor, dignity, and purpose.
The new Oba Adekeye is the proud nephew of the late Oba Jimoh Ajide Adekeye and the grandson of Oba Alade Adekeye — custodians of Agunjin’s noble traditions whose names remain deeply woven into the history of the land.
As the Yoruba say,
“Adé kì í wọ́ lórí aláìní orí.” — The crown does not rest on a head without destiny.”
His Royal Highness wears the crown not as a mere ornament, but as a solemn trust from his ancestors to his people.
The Adekeye Royal Family extends profound gratitude to: His Excellency, H.E.AbdulRahman AbdulRazaq, CON, Chaiman GFON, Sadauna Ngeri of Ilorin, Executive Governor of Kwara State; The Chairman, Kwara State Council of Chiefs, Alhaji (Dr.) Ibrahim Sulu-Gambari, Emir of Ilorin; The Chairman, Igbomina Traditional Rulers Forum, Oba (Barr.) Alh. Ismail Bolaji Yahaya Atoloye Alebiosu, Olupo of Ajase Ipo; The Chairman, Ifelodun Traditional Council, HRM Oba (Dr.) Alhaji Ahmed Awuni Babalola Arepo III, Elese of Igbaja; The Ifelodun Traditional Council Members and the Kwara State Traditional Council.
Our heartfelt appreciation also goes to the Hon. Commissioner for Local Government, Chieftaincy Affairs and Community Development, Hon. Abdullahi Bata, and to the Executive Chairman, Ifelodun LGA, Hon. Femi Yusuf, for their steadfast commitment to upholding historical truths and safeguarding the cherished traditions of Agunjin.
As the newly crowned Ariwajoye III, Oba Adekeye brings decades of professionalism, global exposure, and deep cultural pride to his reign. His vision is noble and unwavering — to champion sustainable development across the Agunjin district, preserve the rich traditions of the land, and unite his people both at home and in the diaspora under one banner of progress, peace, and pride.
In the words of an old royal proverb, “When the king builds bridges, the people will cross to a better tomorrow.” Ariwajoye III now stands as that bridge — connecting the heritage of the past with the promise of the future.
Long live Ariwajoye III. Long live the Ariwajoye Adekeye Royal Family. Long live Agunjin Land.
Prince Oluwatoyin Adekeye For the Family
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