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IMF proposes more taxes, higher interest rates after subsidy removal

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The International Monetary Fund, on Friday, said for Nigeria’s fuel subsidy removal policy and foreign exchange unification initiative to translate to economic growth and stability, the Federal Government must collect more taxes to fund the national budget and pay public debts.

The IMF Africa Department Director, Abebe Selassie, made the position known during a press briefing on the Sub-Saharan Africa Regional Economic Outlook at the ongoing World Bank Group/International Monetary Fund Meeting in Marrakech, Morocco.

He spoke against the backdrop of the harsh economic conditions in Nigeria on the back of the removal of fuel subsidy and foreign exchange unification by President Bola Tinubu after taking office in late May.

The deregulation of the downstream oil sector has pushed petrol prices from about N185/litre to about N600/litre, a development that has caused pain and untold hardships for more Nigerians.

Aside from this, policies aimed at unifying the official and parallel market rates of the naira announced in early June by the government have worsened the sharp rise in the prices of goods and services following the jump in the pump price of petrol.

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Despite the initial savings made from fuel subsidy removal by the Federal Government, over 90 per cent of government revenue still goes into debt servicing, leaving it with a meagre amount to cater to major economic growth and development projects.

However, the IMF said on Friday that Nigerian policymakers must urgently complement the fuel subsidy removal with a set of policies that could ameliorate the economic challenges facing the country.

Selassie said, “The exchange rate reforms that the government did were very, very welcome, trying to unify the rate, similarly the fuel subsidy. But that will not help and will not stick unless you also are tightening monetary policy; unless you’re also doing something to mobilise more tax revenues. So, a holistic package of reforms is what’s needed.

“So, you have a medley of things mainly rooted in the fiscal challenges that Nigeria has faced, not having tax revenues. At the same time, this is a country with incredible potential and we have seen reforms moving in the right direction in recent months. What is needed, we feel, is making the reforms holistic and help reinforce each other. Just as things were not reinforcing each other in the past, I think there is scope to make the reforms reinforce each other.”

The IMF director noted that Nigeria had over-relied on oil revenue, making it difficult to tap its potential in other areas.

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He said, “Why are there not enough tax revenues? I think in the past, over-reliance on oil was when prices were high. Second, of course, also is the subsidy regime, which also entails quite a lot of loss of government resources being directed where they perhaps should not be. So, I think these are all interlinked issues, including causing some of the inflation that you’re seeing, because, given the difficulty to tap international capital markets, the government has had to rely more on domestic financing, which has either crowded out the private sector or of course caused the monetary injection, which again has weakened the exchange rate.”

Selassie, however, said the leaders at the Central Bank of Nigeria and the Ministry of Finance were new, adding that there was a need to give them more time to act.

He expressed confidence in their ability to make the right economic decisions, saying, “I think we have to give a bit of time to the new administration also, I mean, the central bank governor has just been appointed. The Minister of Finance has only been in office for a few weeks. So, we’re hopeful that they will move in the right direction, and we stand there to provide any policy advice the government needs.”

Debt talks

On Nigeria’s debt, the IMF director said the country leaders had yet to initiate any discussion on debt cancellation or forgiveness.

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The Debt Management Office data showed that Nigeria had a total debt stock of $113.4bn as of June 30, 2023.

The IMF director said, “I am not aware of any discussions that are going on debt profiling and restructuring in Nigeria. There are, of course, like elsewhere in the region, debt pressures. And I think in Nigeria, by far the most important cause of the pressures is the fact that the government doesn’t generate enough tax revenues for all the services it needs to provide. So, interest payment as a share of revenues is very high and not leave much room to spend on other issues. I think that is the key issue and the one that needs to be worked on.”

He also said Nigeria’s debt was still manageable but noted that more revenue must be generated to service it.

“When we look at the debt in Nigeria, our sense is that the stock is manageable in general. It’s the debt servicing that is much more difficult. And the debt servicing is hampered, as I said earlier, by the country not generating enough non-oil tax revenues. I think that is by far the most important area of reform, by far the most important area of work that there is for any administration in Nigeria,” Selassie added.

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“Go and Verify”: How Sunday Umeha Is Redefining Representation in Ezeagu/Udi

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Rt. Hon. Barr. Sunday Cyriacus Umeha has continued to distinguish himself not only as a grassroots politician but as a sound parliamentarian who clearly understands the true essence of legislative representation and public service.

Since emerging as the Member representing Ezeagu/Udi Federal Constituency in the House of Representatives, Umeha has consistently demonstrated capacity, vision, and commitment both on the floor of the National Assembly and within his constituency.

Unlike many politicians whose promises disappear after elections, Rt. Hon. Umeha has steadily transformed his campaign mantra, “Go and Verify,” into practical realities visible across communities in Ezeagu and Udi Federal Constituency.

From road construction to solar-powered streetlights, classroom projects, healthcare interventions, agricultural empowerment, scholarships, boreholes, and youth development programmes, his stewardship has remained rooted in service delivery and measurable impact.

Observers say one of the strongest qualities that separates Umeha from many lawmakers is his deep understanding of parliamentary responsibilities. Through strategic bills and motions, he has continued to show that representation goes beyond rhetoric and political appearances.

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Among several notable legislative efforts, he sponsored bills seeking the establishment of a Federal College of Entrepreneurship and Skill Acquisition in Ezeagu/Udi Federal Constituency, reforms in the education sector through the abolition of levies in public basic schools, mandatory insurance protection for NYSC members, and the establishment of a National Football Academy.

He also sponsored motions addressing critical national concerns, including the investigation into the gruesome killing of Nigerians by soldiers in Enugu State and the urgent completion of the Karshi/Apo Road project in Abuja to ease traffic congestion.

Political analysts note that these interventions reflect a lawmaker who understands that effective representation must combine constituency development with strong legislative advocacy.

Many constituents equally commend him for remaining faithful to the promises he made during his campaigns. Across the constituency, residents point to completed and ongoing projects as evidence that the lawmaker has not reneged on his commitments to the people.

Beyond governance and legislative duties, Rt. Hon. Umeha also played significant roles in efforts aimed at restoring sanity, stability, and internal cohesion within the Labour Party before his eventual defection to the APC.

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Sources within the political space in Enugu State revealed that Umeha consistently pushed for peace, unity, and institutional order within the party during periods of internal crisis and leadership disagreements. His interventions were said to be driven by the desire to protect the interests of party members and preserve the integrity of the platform.

However, following prolonged internal challenges and unresolved structural issues within the Labour Party, the federal lawmaker eventually moved to the All Progressives Congress (APC), a decision many political observers described as strategic and inevitable.

Despite the political transition, supporters insist that his focus has remained unchanged — delivering quality representation, empowering constituents, and sustaining developmental projects across Ezeagu/Udi Federal Constituency.

For many residents, Rt. Hon. Barr. Sunday Cyriacus Umeha represents a rare blend of grassroots leadership, legislative competence, humility, and political responsibility.

And across the constituency, the verdict from many communities remains simple:

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“He promised, and he delivered.”

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Chief Sir Paul Chukwuma Lays His Beloved Sister to Rest

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Today, Friday 8 May 2026, Chief Sir Paul Chukwuma (Onwa Umueri) laid his beloved sister, Late Mrs Christiana Amaka Okeke to rest in a solemn but dignified ceremony.

A large number of family and friends gathered in Ogboji in Orumba South Local Government Area for her burial.

It was a solemn yet beautiful celebration of a life well lived, one marked by grace, resilience, and strong family values. The Funeral Mass was officiated by His Emience, Cardinal Peter Ebere Okpalaeke, The Catholic Bishop of Ekwulobia Diocese.

In a heartfelt family tribute, Chief Sir Paul Chukwuma shared that her sister “it is indeed well with your soul and has gone to rest with the Lord,” expressing profound grief over the irreplaceable loss of a beloved sibling who played a significant role in their family. He prayed for God to grant her His mercy and reward her with Beatic Vision. He opined that they as a family will continue from where she stopped. Our Hope in God and Believe in the resurrection of the dead and communion of the saints will spur them on as they continue to place all their hopes in God who made Heaven and Earth.

The Funeral and Burial Ceremony was graced by notable dignitaries including Her Excellency Senator Dr Iyom Uche Ekwunife, APC State Chairman, Most Distinguished Senator Emma Anosike, Chief Uzoma Igbonwa (Okeife Alor), YPP Deputy Governorship Candidate 2025 Governorship Election, His Excellency, Chief Uzu Okagbue, Former Nigeria Ambassador to Burundi, His Excellency, Ambassador Elijah Onyeagba (Ozonkpu Ike Enuguwu-Ukwu N’Umunri, Dr Oby Orah, Executive Director FAAN, Prof Charles Esimone, Former Vice Chancellor Unizik, Chief Hon Raph Okeke, Barr CJ Chinwuba, Hon Chizo Obidigwe, Hon JC Okeke (Deputy Chairman ,APC Anambra State, chief Anthony Obiazie (Ichie Ide), Onwa Lento Aluminium.

Others are The Vice Chancellor of Benue State University and Members of the Governing Council, the Rector Anambra State Polytechnic,Dr Njideka Rita Chiekezie, Hon Obi Henry APC State secretary, Hon Ify Nwachukwu (Ada Onowu), Prof Jaja Nwanegbo, and several other respected leaders from the political, traditional, and religious communities.

Late Mrs Christiana Amaka Okeke died after Major Brain Tumour Surgery in Germany, aged 44 years. May the soul of Late Mrs Christiana Amaka Okeke rest in perfect peace, and may God grant the entire Chukwuma of Umueri and Okeke family of Ogboji, the strength and comfort to bear this irreparable loss.

*Videos and Photos Speak:*
*(C) Paschal Candle.*

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2027: Anambra ADC Intact Despite Obi, Kwankwaso Departure – Guber Candidate

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By Okey Maduforo Awka

Gubernatorial candidate Mr John Nwosu and running mate of the African Democratic Congress ADC in Anambra state Chief Ndubuisi Nwobu have stated that despite the deoature of Mr Peter Obi, and Alhaji Rabiu Musa Kwankwaso,the party is still intact and would run it’s full course in the 2027 general election.

The duo however lamented that the deoature of Obi is indeed painful but was quick to add that the party must forge ahead .

He said as leaders, Obi and Kwankwaso and other key chieftains of the ADC who suddenly left to the Nigeria Democratic Congress (NDC) would have waited to resolve the problems the ADC is facing when it mattered most rather than taking a swift to another fold.

Chief Nwobu bared his mind and feelings of other stakeholders of the ADC while briefing newsmen shortly after the ADC Anambra Leadership Consultative Meeting held on Friday in Awka the state capital.

He noted with nostalgia that the candidate of the Labour Party (LP) during the 2023 general elections, Mr. Peter Obi could have shown restraint and commitment in the ADC even in face of the party’s plethora of litigations pending before different courts than leaving it unceremoniously with others.

He vowed that despite the development, leaders and members of the State chapter of the ADC are resolute to take the full circle of the electoral battle ahead of next year’s general elections and would get to it to successfully.

Accorisng to him, the National leadership of the party was not given the opportunity to settle down even less than 24 hours before the supreme Court judgment on Thursday last week when news about the detection of those who left the party rented the air waves up till Friday and Saturday same week and finally on Sunday when the news was finally blown to the entire world.

Nwobu disclosed that the opposition ADC in the state at the moment parades about nine House of Representatives and six State House of Assembly aspirants who have bought nomination forms to contest the 2027 elections while more have indicated interest to join the epical race.

The ADC stalwart further maintained that all those who indicated interest to contest the various positions are greatly prepared to run the race with high morals.

“We feel pains that these people left the party (ADC); definitely it’s going to affect the gains of the party. There’s no point saying every other thing. That having been said I am telling you that those who remain in the party are resolute and prepared to run the course.

He said the ADC Anambra Leadership Consultative Meeting reaffirm loyalty and support to the National leadership under David Mark as national chairman and Rauf Aregbesola as the National Secretary.

Nwobu who was flanked by Hon. Christian Okeke, Ven. Chris Orajekwe and Arch. Afam Moma, Samuel Ikefuna, and Reginald Akunekwe and Ben Chuks Nwosu said “the state leaders reaffirm loyalty and support of the ADC Anambra state to the National leadership headed by Senator David Mark and His Excellency Rauf Aregbesola.”

“The meeting resolved to commend the founding chairman of the ADC Chief Ralph Okey Nwosu for the exemplary show of representing the ADC platform as an umbrella body for the coalition and his selfless role In navigating the coalition to it’s fruition.”

“And we wish to affirm that the ADC’s best is from Anambra state and Anambra state will not be found wanting in the efforts of the party to achieve success during the 2027 general elections,” he said.

“For our brothers who has moved on tp other platform, we wish them well. I look forward to a day we will all join hands together to salvage this country,” Nwobu stated.

He explained further that no new leadership has been Inaugurated in Anambra,adding that that it’s unnecessary for somebody to say he or she has resigned as the party is still contending on issues of offices, conduct of Congresses at the Federal High court.

Chief Nwobu stated that the Inauguration of officials elected at Congresses across the states would be made on the 11th of this month.

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Enugu, SSDO advance domestic resource mobilisation for climate responsive budgeting

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By Chinedu Sabastine

The Enugu State Government, in partnership with the South Sahara Social Development Organisation (SSDO), has intensified efforts to strengthen domestic resource mobilisation (DRM) as part of broader strategies to boost climate finance and promote responsive budgeting.

The initiative aligns with the administration’s climate policy framework, which emphasises sustainable development, a green economic transition, and improved fiscal planning.

This was disclosed during a two-day stakeholders’ dialogue on domestic resource mobilisation for climate-responsive budgeting held at Sylvia Hotel, Independence Layout, Enugu and funded by ActionAid Nigeria.

 

Speaking at the event, the Deputy Director of Climate Change in the Ministry of Environment and Climate Change, Nnamdi Arum, said the state has integrated climate considerations across its projects and programmes.

 

According to him, while Enugu continues to benefit from international funding support, deliberate steps are being taken to strengthen internally generated resources for climate initiatives.

“Climate change has been prioritised across ministries in Enugu State. Most projects are now designed with green considerations in mind,” Arum said.

He commended Governor Peter Mbah for appointing Prof. Chukwumerije Okereke as Special Adviser on Climate Change, noting that his leadership has helped translate climate policies into actionable programmes.

Arum added that the government is actively engaging diverse groups, including youths and persons with disabilities, to ensure inclusive climate policy development.

On funding gaps, he acknowledged that despite progress, external support remains crucial particularly in the agricultural sector to enhance food security and affordability.

In his remarks, Research Policy Officer with SSDO, Okechukwu Ajah, said the dialogue aimed to bridge the gap between policy formulation and implementation.

He noted that although Enugu has domesticated its climate policy and action plan, challenges such as weak inter-ministerial coordination and the absence of clear climate budget tagging persist.

“Many agencies still operate in silos, and there is no distinct climate imprint in budgeting across ministries. This affects ownership and effective implementation of climate policies,” Ajah said.

He expressed optimism that the engagement would yield practical, implementable recommendations, stressing the need to move from theory to action.

Ajah also highlighted the importance of youth inclusion in climate discussions, describing young people as critical stakeholders in shaping sustainable futures.

One of the participants, Chidera Ekoh, described the dialogue as insightful, noting that it provided practical knowledge on addressing climate challenges.

“Climate change is already impacting our economy. This programme has equipped us with the knowledge to prioritise challenges and mobilise resources effectively,” Ekoh said

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Enugu Govt Disowns Group Accused of Defrauding Traditional Medicine Practitioners

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The Enugu State Government has disowned a group allegedly defrauding traditional medicine practitioners under the guise of acting on its behalf.
In a disclaimer issued on April 28, 2026, the government warned against the activities of individuals operating under the name Association of Traditional Medicine Practitioners of Enugu State (AMTIPES), describing the body as illegal and unrecognized.
According to the statement signed by the Special Adviser to the Governor on Media, Hon. Onyekwere Nwobodo, the group has been harassing practitioners and collecting unauthorized levies despite having no accreditation from the state.
The government clarified that the registration and certification of traditional medicine practitioners in Enugu State fall strictly under the Ministry of Culture and Tourism, in line with existing laws. It stressed that no other body has the authority to act on its behalf in this regard.
Authorities disclosed that reports of AMTIPES’ activities have been forwarded to law enforcement agencies. Some individuals linked to the group have already been apprehended and are currently facing prosecution in court.
The government urged members of the public, particularly traditional medicine practitioners, to remain vigilant and avoid any dealings with the impostors.
It further emphasized that compliance with only officially recognized channels would protect practitioners from exploitation, reiterating the warning that “to be forewarned is to be forearmed.”

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