News
Subsidy removal: Marketers seek CBN loan to build 30,000 gas stations
Oil marketers have written to the Federal Government over their proposal to build about 30,000 gas stations to cushion the effects of the proposed subsidy removal on Premium Motor Spirit, popularly called petrol.
Nigerians are currently counting down to the June 2023 projected date for subsidy removal, as the call for palliatives to ameliorate the impact of the halt in subsidy is gaining momentum.
There are also projections that petrol may sell for about N750/litre if the Federal Government removes subsidy by June this year.
To help cushion this, oil marketers, in a letter to the Federal Ministry of Finance, also asked the Federal Government to make the Central Bank of Nigeria release the N250bn intervention fund for the National Gas Expansion Programme as loans to vehicle owner to acquire gas conversion kit.
This came as the organised labour stated that it was considering a meeting with the incoming government on subsidy removal date.
In the letter by the oil marketers, dated April 3, 2023, and received by the Federal Ministry of Finance on the same day, the marketer stated that they were ready to deploy gas dispensers to 30,000 filling stations nationwide to cushion the impact of fuel subsidy removal.
The letter, which was signed by the National President, Independent Petroleum Marketers Association of Nigeria, Chinedu Okonkwo, and addressed to the finance minister, read in part, “We are writing to request an audience with you to present a palliative solution to cushion the impact of the removal of the unsustainable petrol subsidy.
“Our partners, Gas Analytics & Solutions Ltd, have an agreement with the independent Petroleum Marketers Association of Nigeria to co-locate natural gas dispensers on our network of over 30,000 filling stations in Nigeria.
“This collaboration with IPMAN presents the most economic and expedient platform to deploy the necessary infrastructure to support a fast national roll-out of CNG (Compressed Natural Gas) for vehicles.”
IPMAN expressed belief that this platform would provide a cushion to Nigerians from the shock of high petrol price once subsidy is removed and would significantly reduce the need for foreign exchange to import petrol.
“Furthermore, CNG emits 30 to 60 per cent less Green House Gases than petrol and diesel, making it more appealing to attracting additional financing from international and regional developmental finance institutions that are disposed to supporting natural gas utilisation projects compared to petrol refineries.
In addition, the Nigeria Midstream Downstream Petroleum Regulatory Authority and the Gas Aggregation Company of Nigeria have set up a joint working committee to provide the permits, approvals, and natural gas feedstock as required.
“What is left is the support of the Central Bank of Nigeria to provide access to the Gas Expansion Fund for vehicles, Keke, and truck owners to access loans to finance the acquisition of natural gas conversion kits,” the oil marketers stated.
IPMAN said it had applied to CBN through the NIRSAL microfinance bank for a partnership to develop a finance scheme for qualified Nigerians to access the gas expansion facility to convert their vehicles and need the support of the federal ministry to conclude with CBN NIRSAL Microfinance Bank.
It said the Gas Expansion Fund was envisaged to support the increased utilisation of natural gas in Nigeria, and access to the funds by qualified vehicle owners would support and justify IPMAN members making the required investment along the natural gas value chain to deliver gas to vehicles.
“Without a large pool of CNG customers, IPMAN will not be able to raise the funds required to setup CNG filling stations.
“We believe that with the support of the Ministry of Finance, IPMAN’s partnership with Gas Analytics will provide a platform that can in a matter of a few months cushion the impact of petrol subsidy removal and significantly reduce the need for foreign exchange to import petrol.
“We request an audience with you to discuss this further and present our proposal. We looking forward to hearing from you soon. Thank you for your time and consideration,” the oil dealers stated through their umbrella association.
In August 2021, the Federal Government claimed to have commenced the implementation of the CBN N250bn intervention fund for the National Gas Expansion Programme.
The then Permanent Secretary, Federal Ministry of Petroleum Resources, Bitrus Nabasu, had stated that the process of receiving applications from potential beneficiaries to access the facility had commenced.
The intervention facility for the NGEP is targeted at stimulating finance to the critical sector and to motivate investment in the gas value chain, and is being funded by the CBN.
Nabasu had stated that the fund was available to finance the establishment of gas processing plants and small-scale petrochemical plants, gas cylinder manufacturing plants, CNG regasification modular systems, automatic conversion kits or components manufacturing plants, CNG primary and secondary compression stations, as well as micro distribution outlets and service centres of liquefied petroleum gas sales.
The warning comes as the scheme continues preparations for the mobilisation of a fresh batch of prospective corps members, while also intensifying efforts to ensure their safety during orientation camp journeys.
In a public notice shared on its official X account on Monday, the NYSC declared that NERD clearance is now compulsory for all prospective corps members.
The scheme urged prospective corps members to complete the process early to avoid delays in mobilisation.
“This is to inform PCMs (Prospective Corps Members) that without NERD clearance, no NYSC. Get your NERD clearance early. Avoid delays in your mobilisation.”
Reiterating the mandatory nature of the requirement, the NYSC stated, “NERD clearance is compulsory for all PCMs. No NERD clearance, No NYSC!!!”
The latest advisory comes barely hours after the NYSC announced the mobilisation of another batch of prospective corps members for the 2026 Batch ‘B’ service year, urging institutions and eligible graduates to complete all necessary documentation ahead of the orientation exercise.
It also follows another recent safety advisory by the scheme in which prospective corps members were warned against travelling at night to orientation camps.
The NYSC advised them to break their journeys whenever necessary and lodge in safe locations or designated military and security formations where available, rather than risk travelling after dark.
The renewed advisories reflect the scheme’s efforts to improve both the integrity of its mobilisation process and the safety of prospective corps members, amid growing security concerns on Nigerian highways.
With mobilisation activities gathering pace, prospective corps members are expected to complete all required registration and verification procedures, including the newly emphasised NERD clearance, before reporting for orientation camp.
The development follows public concern over a viral video showing the girls in detention, which prompted calls for the Nigerian government to intervene.
On Instagram, #Queenbethia had posted the video on Sunday: “Pls tag every relevant authority because this is nonsense !!!! This cannot keep happening!! Mauritius is notorious for this !!!”
They have been held at the Mauritius airport since July 31, 2026, she lamented.
“They are currently on their way back to Nairobi,” the commission stated.
The commission reiterated its commitment to the welfare and protection of Nigerians living or travelling abroad, saying the intervention aligns with the Federal Government’s renewed focus on citizens’ welfare.
“NiDCOM, in line with Mr President’s Renewed Hope Agenda, remains committed to the welfare and protection of all Nigerians home and abroad,” it added.
NiDCOM did not disclose the identities of the girls, the country where they were detained, or the circumstances that led to their arrest.
The commission also did not indicate when they are expected to arrive in Nairobi or Nigeria.
Similarly, neither the Mauritius government nor the airport have spoken officially about the reasons behind their delay at the airport.
By Chinedu Sabastine
ENUGU — Tension is mounting in Umuchigbo Iji Nike Autonomous Community in Enugu East Local Government Area of Enugu State as hundreds of indigenes have rejected the alleged appointment of a traditional ruler, insisting that only a transparent election can produce their Igwe.
The residents, who gathered at the community square on weekend, declared that the autonomous community has no recognised traditional ruler and appealed to Governor Peter Mbah to direct the Ministry of Chieftaincy Affairs to conduct an election in line with the community’s constitution.
The protest followed reports that Jude Agu had been presented as the community’s traditional ruler, a move the indigenes described as unconstitutional and capable of causing unrest.
The protesters also cited a subsisting interlocutory injunction of the Enugu State High Court restraining Jude Agu from parading himself as Igwe or Igwe-elect of the community pending the determination of the substantive suit.
The order, delivered on July 25, 2025, by Justice A.A. Onovo in a suit No E/491/2023 filed by Chief Maurice Nonyelum Ekete against Jude Agu and Hon. Kenneth Mbah, directed all parties to maintain the status quo until the case is determined.
The indigenes argued that recognising any monarch without an election amounted to disregarding both the community’s constitution and a valid court order.
Addressing journalists, community elder Chief Gabriel Okoh accused former Town Union Chairman, Hon. Kenneth Mbah, of frustrating an earlier election process.
“Umuchigbo people are against imposition. All we want is election. If Jude Agu wants to be Igwe, he should come to the village square and contest like every other aspirant,” he said.
Youth leader Anthony Ikechukwu Anike warned that imposing a monarch without the consent of the people could trigger avoidable tension.
“The matter is still in court, yet we are hearing that someone has received a staff of office. We will pursue every legal means to protect our rights. The government should come and conduct a transparent election,” he said.
Speaking on behalf of other aspirants, retired Permanent Secretary Chief Maurice Nonyelum Ekete said the community’s constitution clearly prescribes election as the only legitimate process for selecting an Igwe.
“Our demand is simple. Let the Ministry of Chieftaincy Affairs conduct an election as it has done in other communities. Whoever wins should become the Igwe. We are not against anybody; we are against imposition. We are not against anybody becoming Igwe. We are only saying that whoever wants the throne should submit to a transparent election.” Chief Ekete said.
Other aspirants, Chief Joseph Iloka and Chief Josephat Ezeoha, also backed the call for a transparent election, insisting that the people should be allowed to freely choose their traditional ruler.
As of the time of filing this report, efforts to obtain the reaction of the Enugu State Ministry of Chieftaincy Affairs were unsuccessful.
Umuchigbo community rejects ‘appointed’ monarch, insists on election
By Chinedu Adonu
ENUGU — Tension is mounting in Umuchigbo Iji Nike Autonomous Community in Enugu East Local Government Area of Enugu State as hundreds of indigenes have rejected the alleged appointment of a traditional ruler, insisting that only a transparent election can produce their Igwe.
The residents, who gathered at the community square on weekend, declared that the autonomous community has no recognised traditional ruler and appealed to Governor Peter Mbah to direct the Ministry of Chieftaincy Affairs to conduct an election in line with the community’s constitution.
The protest followed reports that Jude Agu had been presented as the community’s traditional ruler, a move the indigenes described as unconstitutional and capable of causing unrest.
The protesters also cited a subsisting interlocutory injunction of the Enugu State High Court restraining Jude Agu from parading himself as Igwe or Igwe-elect of the community pending the determination of the substantive suit.
The order, delivered on July 25, 2025, by Justice A.A. Onovo in a suit No E/491/2023 filed by Chief Maurice Nonyelum Ekete against Jude Agu and Hon. Kenneth Mbah, directed all parties to maintain the status quo until the case is determined.
The indigenes argued that recognising any monarch without an election amounted to disregarding both the community’s constitution and a valid court order.
Addressing journalists, community elder Chief Gabriel Okoh accused former Town Union Chairman, Hon. Kenneth Mbah, of frustrating an earlier election process.
“Umuchigbo people are against imposition. All we want is election. If Jude Agu wants to be Igwe, he should come to the village square and contest like every other aspirant,” he said.
Youth leader Anthony Ikechukwu Anike warned that imposing a monarch without the consent of the people could trigger avoidable tension.
“The matter is still in court, yet we are hearing that someone has received a staff of office. We will pursue every legal means to protect our rights. The government should come and conduct a transparent election,” he said.
Speaking on behalf of other aspirants, retired Permanent Secretary Chief Maurice Nonyelum Ekete said the community’s constitution clearly prescribes election as the only legitimate process for selecting an Igwe.
“Our demand is simple. Let the Ministry of Chieftaincy Affairs conduct an election as it has done in other communities. Whoever wins should become the Igwe. We are not against anybody; we are against imposition. We are not against anybody becoming Igwe. We are only saying that whoever wants the throne should submit to a transparent election.” Chief Ekete said.
Other aspirants, Chief Joseph Iloka and Chief Josephat Ezeoha, also backed the call for a transparent election, insisting that the people should be allowed to freely choose their traditional ruler.
As of the time of filing this report, efforts to obtain the reaction of the Enugu State Ministry of Chieftaincy Affairs were unsuccessful.
Umuchigbo community rejects ‘appointed’ monarch, insists on election
By Chinedu Adonu
ENUGU — Tension is mounting in Umuchigbo Iji Nike Autonomous Community in Enugu East Local Government Area of Enugu State as hundreds of indigenes have rejected the alleged appointment of a traditional ruler, insisting that only a transparent election can produce their Igwe.
The residents, who gathered at the community square on weekend, declared that the autonomous community has no recognised traditional ruler and appealed to Governor Peter Mbah to direct the Ministry of Chieftaincy Affairs to conduct an election in line with the community’s constitution.
The protest followed reports that Jude Agu had been presented as the community’s traditional ruler, a move the indigenes described as unconstitutional and capable of causing unrest.
The protesters also cited a subsisting interlocutory injunction of the Enugu State High Court restraining Jude Agu from parading himself as Igwe or Igwe-elect of the community pending the determination of the substantive suit.
The order, delivered on July 25, 2025, by Justice A.A. Onovo in a suit No E/491/2023 filed by Chief Maurice Nonyelum Ekete against Jude Agu and Hon. Kenneth Mbah, directed all parties to maintain the status quo until the case is determined.
The indigenes argued that recognising any monarch without an election amounted to disregarding both the community’s constitution and a valid court order.
Addressing journalists, community elder Chief Gabriel Okoh accused former Town Union Chairman, Hon. Kenneth Mbah, of frustrating an earlier election process.
“Umuchigbo people are against imposition. All we want is election. If Jude Agu wants to be Igwe, he should come to the village square and contest like every other aspirant,” he said.
Youth leader Anthony Ikechukwu Anike warned that imposing a monarch without the consent of the people could trigger avoidable tension.
“The matter is still in court, yet we are hearing that someone has received a staff of office. We will pursue every legal means to protect our rights. The government should come and conduct a transparent election,” he said.
Speaking on behalf of other aspirants, retired Permanent Secretary Chief Maurice Nonyelum Ekete said the community’s constitution clearly prescribes election as the only legitimate process for selecting an Igwe.
“Our demand is simple. Let the Ministry of Chieftaincy Affairs conduct an election as it has done in other communities. Whoever wins should become the Igwe. We are not against anybody; we are against imposition. We are not against anybody becoming Igwe. We are only saying that whoever wants the throne should submit to a transparent election.” Chief Ekete said.
Other aspirants, Chief Joseph Iloka and Chief Josephat Ezeoha, also backed the call for a transparent election, insisting that the people should be allowed to freely choose their traditional ruler.
As of the time of filing this report, efforts to obtain the reaction of the Enugu State Ministry of Chieftaincy Affairs were unsuccessful.
News
The Great Recalibration: How President Bola Ahmed Tinubu Is Restructuring Nigeria for a Stronger Tomorrow
By RT HON
CHINEDUM ENYINNAYA ORJI
“You cannot build a house for tomorrow on the weak foundation of yesterday. We must lay new blocks, even when the rain is falling.”— Adapted from President Bola Ahmed Tinubu
Three years into his presidency, President Bola Ahmed Tinubu has embarked on what may be the most deliberate economic and governance recalibration Nigeria has seen in a generation.
He came into office on May 29, 2023 with a clear declaration: “Fuel subsidy is gone.” In that single sentence, he signaled that the era of deferring hard choices had ended.
Restructuring, at its core, is about rearranging the house so it can stand longer and serve more people. For Nigeria, that meant confronting distortions that had weakened public finances, scared investors, and made planning impossible.
The first pillar of this restructuring is fiscal discipline. By removing the costly petrol subsidy and cutting electricity subsidies, the administration stopped the bleeding of trillions of naira that once vanished into opaque payments.
The results are already visible in the numbers. The fiscal deficit narrowed from 5.4 percent of GDP in 2023 to approximately 3 percent in 2024, while federation revenue rose from ₦16.8 trillion to ₦31.9 trillion.
That new revenue is not sitting idle. It is being channeled into roads, rails, power, and social programs that touch ordinary citizens directly. More than 2,700 kilometers of roads are under construction or rehabilitation nationwide.
The second pillar is monetary credibility. The unification of exchange rates and clearing of a $4 billion FX backlog restored confidence in the naira and in Nigeria’s commitment to market-based policies.
That credibility has produced tangible dividends. The stock market surged nearly fivefold to a record 250,000 points, market capitalization grew, and international rating agency Fitch upgraded Nigeria from B- to B in April 2025.
Foreign investors, who had stayed on the sidelines, are returning. New oil and gas investments are being announced, domestic refining capacity is rising, and fuel imports are falling, easing pressure on our foreign exchange.
The third pillar is sectoral transformation. Recognizing that oil alone cannot carry Nigeria’s future, President Tinubu approved a Presidential Petroleum Reform and Value Optimisation Taskforce to design the next phase of structural reforms in that sector.
The Taskforce is not another talking shop. It is a time-bound technical body charged with delivering execution-ready blueprints to unlock capital, improve transparency, and position Nigeria as a leading global energy investment destination.
Beyond oil, the February 2026 launch of the Nigeria Industrial Policy marks a decisive shift toward manufacturing, value addition, and job creation. The goal is a $1 trillion economy in five years, driven by inclusive and decentralized growth.
This is restructuring with a human face. Through NELFUND, millions of Nigerian students now have access to loans to stay in school. The CNG program is reducing transport costs and easing the burden of subsidy removal on households.
Governance itself is being rewired. The Renewed Hope Ward Development Plan is mapping economic potential across all 8,809 wards, ensuring that planning starts from the grassroots and moves upward to the state and federal levels.
Such decentralization matters. When wards have data, they have a voice. When local governments have more resources, service delivery improves. That is how accountability becomes real, not theoretical.
On security, the administration has intensified operations against banditry, insurgency, and criminal gangs. The link is clear: no investor builds factories where there is no peace, and no farmer feeds the nation where there is no safety.
A good example is the renewed engagement with Ogoni communities. By addressing historical grievances, the government is creating the conditions to restart oil exploration in a way that benefits both the people and the treasury.
Critics are right to point out the hardship. The cost-of-living squeeze has been severe, and inflation remains a challenge. But restructuring is not magic. It is medicine, and medicine often tastes bitter before it heals.
What distinguishes this moment is political will. Previous administrations discussed these reforms for decades. President Tinubu chose to act in the first week, knowing the political cost, because the economic cost of delay was higher.
The international community has noticed. The World Bank’s April 2026 Nigeria Development Update and the IMF’s 2025 Article IV Consultation both acknowledge significant progress in restoring macroeconomic stability.
More importantly, Nigerians are beginning to see the logic. A stable currency means businesses can plan. More revenue to states means more projects in communities. More transparency means fewer excuses.
The central test ahead is jobs. With 3.5 million Nigerians entering the labor force each year, the restructuring must now translate into employment-intensive growth. The industrial policy and infrastructure push are designed for exactly that.
This is not about one man or one party. It is about laying a foundation that no future government can afford to ignore. Institutions, rules, and incentives are being reset.
History will judge this period not by the pain of the transition, but by whether we used the pain to build something durable. The early signs suggest we are.
President Tinubu’s restructuring is far from complete, but it has already changed the trajectory. Nigeria is no longer drifting. It is recalibrating, with purpose, toward a future where our resources work for our people, and where governance finally matches our potential.
RT HON
Chinedum Enyinnaya orji
APC House of Representatives Candidate for Ikwuano Umuahia Fed. Constituency writes from Amaokwe Ugba Ibeku, Abia State.
The Federal Road Safety Corps (FRSC) has announced the demise of its Enugu State Sector Commander, Corps Commander Franklin O Agbakoba.
This is contained in a statement issued by FRSC Deputy Corps Commander in-charge of Enugu State Operations, DCC Kyrian C Okolo, on Friday in Enugu.
“FRSC Enugu State Sector Command received the sad news of the demise of CC Franklin Agbakoba on Thursday, July 30,2026.
“The late Sector Commander died at Niger Foundation Hospital, Enugu where he was receiving treatment.
“His corpse have been deposited at the Eastern Medical Center, Enugu,” he said.
Until his death,CC Franklin Agbakoba made inter-agency collaboration and partnership his legacy and promoted safer roads within Enugu State.
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