News
Removal Of Fuel Subsidy Worries Experts
Some financial experts have expressed worry over the removal of fuel subsidy by the Federal Government.
They told newsmen in separate interviews in Lagos that the removal of the subsidy would lower the standard of living of the masses.
According to them, the removal of fuel subsidy will cause a lot of hardship on the people and the rate of unemployment in the country will further increase.
A lecturer at the Department of Economics, University of Lagos, Dr Tunde Adeoye, said that the removal of fuel subsidy would adversely affect the cost of transportation and price of commodities.
“I so much believe that the removal of the fuel subsidy will impose great pains on the citizens of this country.’’
Former director, CBN, Mr Titus Okunronmu, said that government’s decision on fuel subsidy would mostly affect the people on fixed incomes.
Okunronmu said that the poverty index would rise because more people would be made poorer because of the increase in the standard of living.
He also said that workers would agitate for more salaries that would lead to inflation in the country.
“In my own view, I do not believe that the market forces can develop the economy.’’
He said that the government belief that market forces could enhance fair and equitable distribution of resources within the economy without tackling corruption would be difficult to achieve.
The immediate Past President of the Association of National Accountants of Nigeria, Dr Samuel Nzekwe, also said that the removal of fuel subsidy would lead to increase in the price of commodities and rent.
Nzekwe said that it would affect the masses more than the rich and reduce the purchasing power of the average Nigerian.
Nzekwe added that it would affect the cost of transportation and increase the cost of fueling generators, especially those used by industry operators.
“It is not really good enough to remove fuel subsidy because companies might start downsizing due to high cost of petrol.’’
General Manager, Cash Craft Assets Management Ltd., Mr Ayodeji Fagbenle, also said that the removal would encourage inflation in the economy.
“The removal of fuel subsidy will have a negative effect on the economy because it will definitely increase the level of poverty within the country.”
Fagbenle added that this would also reduce the purchasing power and make life more difficult for the people.
General Manager, True Bond Microfinance Bank, Mr Wole Olowu, said that the decision to remove fuel subsidy was untimely because of the state of the economy.
Olowu urged the government to urgently ensure that the refineries were working, explaining that most companies would not be able to cope with the increase in the price of petrol.
According to him, most of them will not have no alternative than to retrench some of their staff.
Olowu said that the increasing unemployment rate would increase the crime rate in the country.
He suggested that the government should put in place measures that would improve the well-being of the people.
News
Senate Holds Emergency Meeting ‘Morrow
The Senate has announced that it will hold an emergency plenary sitting tomorrow (Tuesday).
The announcement was made yesterday in a statement signed by the Clerk of the Senate, Emmanuel Odo, who said all senators have been requested to attend.
“The President of the Senate, Godswill Akpabio, has directed the reconvening of plenary for an emergency sitting on Tuesday, February 10th, 2026,” the statement read.
The session is scheduled to commence at 12 noon.
This comes just days after the Senate passed the amendment bill on February 4, but voted down Clause 60(3), which would have required presiding officers to electronically transmit results from polling units directly to the Independent National Electoral Commission’s Result Viewing portal in real time.
The rejected clause aimed to make the process mandatory.
The lawmaker replaced it with the current discretionary “transfer” of results, which allows electronic transmission only after votes are counted and publicly announced at polling units.
Civil society groups and opposition figures in the country have condemned the Senate’s decision, labelling it a setback for Nigeria’s democratic progress.
Senate President Akpabio has, however, defended the Senate’s actions, insisting during a public event that the Senate did not reject electronic transmission and vowing not to be intimidated.
Tomorrow’s emergency sitting could see the Senate reconsider the rejected amendment amid public outcry and potential legal challenges from figures such as lawyer Femi Falana, with possible implications for Nigeria’s democratic processes and the balance between incumbency protections and verifiable voting technology.
News
Probe Senate Over Electoral Act, Tax Laws, SERAP Tells CCB
The Socio-Economic Rights and Accountability Project (SERAP) has petitioned the Code of Conduct Bureau (CCB) to investigate members of the Senate and other public officers over alleged irregularities in the passage of the Electoral Act Amendment Bill and the Tax Reform Laws.
According to a statement issued yesterday by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation is seeking a prompt, thorough, and effective probe into claims that some senators removed provisions on electronic transmission of election results from the Electoral Act Amendment Bill during plenary, despite a majority having voted for their inclusion and without any debate on the proposed removal.
“According to our information, certain members of the Senate allegedly removed the provisions on electronic transmission of election results from the Electoral Act Amendment Bill during plenary after the majority of the senators had voted for the inclusion of the provisions and without any debate on the proposed removal of the said provisions,” SERAP said.
The organisation also requested the CCB to investigate alterations in the Tax Reform Bills, which reportedly led to discrepancies between the harmonised versions passed by the National Assembly and the copies signed into law and gazetted by the Federal Government.
“Similarly, the National Assembly recently alleged that there are unlawful alterations and some material differences between the tax reform bills passed by the legislative body and the tax reform laws gazetted by the Federal Government.
“A Sokoto lawmaker, Abdussamad Dasuki, raised the issue under a matter of privilege, drawing the attention of the House to the alleged discrepancies between the harmonised versions of the tax reform bills passed by both chambers of the National Assembly and the copies gazetted by the Federal Government.
“The lawmakers said the alterations contained in the gazetted copies did not receive legislative approval. These alleged unlawful alterations raise questions over the legality and legitimacy of both the law-making processes and the versions of the tax laws circulated by the Federal Ministry of Information,” the petition added.
The Senate had denied removing the provisions on electronic transmission of election results, saying it only removed the term “real time” from the sentence, citing judicial concerns.
Similarly, the National Assembly had initiated investigations into the alleged discrepancies in the tax bill and released a “certified” version of the Acts to address the contradictions. The law took effect on January 1, 2026.
SERAP said the petition is submitted under paragraphs 1 and 9 of the Code of Conduct for Public Officers contained in the Fifth Schedule, Part 1 of the 1999 Constitution (as amended), and sections 5 and 13 of the Code of Conduct Bureau and Tribunal Act.
It alleged that the processes leading to the passage of the Electoral Act Amendment Bill and the signing of the Tax Reform Laws were marked by alterations to bill provisions without debate and due process of law, as well as alterations to the Tax Reform Bill without the approval of the National Assembly.
“The petition raises issues of conflict of interest, abuse of office, non-disclosure of interests, lack of due process, and erosion of the Code of Conduct for Public Officers in the exercise of legislative power.
“There are also allegations that certain amendments may have been removed or introduced to the Electoral Act Amendment Bill and the Tax Reform Laws to serve private or political interests rather than the public interest,” the petition reads.
Citing the Constitution, SERAP noted that public officers must not place themselves in situations where personal interests conflict with official duties.
Specifically, the organisation asked the Bureau to formally register the petition and “promptly, thoroughly, transparently, and effectively investigate the conduct of the lawmakers and officers of the executive branch allegedly involved;
“Examine whether inducements, benefits, or promises were offered or received in connection with those acts;
“Examine whether the alleged cumulative conduct of lawmakers and officers of the executive branch amounted to abuse of legislative power, conflict of interest, and breach of due process, contrary to the Code of Conduct for Public Officers;
“Refer any substantiated violations to the Code of Conduct Tribunal; and
“Take all necessary steps to uphold the principle that public office is a public trust.”
The petition requested that the Bureau consider the complaint within seven days, warning that legal action could follow if there is no response.
Dated February 7, 2026, the petition was signed by Oluwadare and sent to the Chairman of the Code of Conduct Bureau, Mr Abdullahi Bello.
News
Red Cross Unveils New Generation Of Humanitarians In PH
The Nigerian Red Cross Society (NRCS), Rivers State Branch, has expanded its humanitarian footprint in Rivers State with the formal inauguration of student volunteers at Command Children School (CCS), Bori Camp, Port Harcourt, marking a significant step in promoting humanitarian values among young Nigerians.
The ceremony, which took place at the school premises, officially admitted CCS students into the Nigerian Red Cross Society.
The Rivers State Branch Representative of the Red Cross Society, Mr Noah Idegbesor, disclosed this in his opening remarks at the occasion.
In a symbolic display, the students marched to the flag stand alongside members of the high table and the Branch Representative, where the Red Cross flag was hoisted, signifying the school’s full induction into the Nigerian Red Cross Society.
With the flag raised, CCS was formally declared a member institution of the NRCS.
As part of the inauguration, a certificate of affiliation was presented to the school by the Nigerian Red Cross Society and received on behalf of the school by the Head Teacher, Mrs Onwuzuruigbo Taiwo.
Speaking as Chairman of the occasion, the Acting Director, Nigerian Army 6 Division Education Services, Port Harcourt, Lt. Col. A. Sadiq, described the event as very unique and significant.
Represented by Staff Sergeant Arisa Eberechi, the Director assured of the support of his team in ensuring success of the endeavour.
Also speaking, the Chairman of the Parents Teachers Association (PTA) of the school, Mr Zuru Daniel, said the establishment of the Red Cross unit in the school was a welcome development and assured of the support of the body to ensure its sustainability.
The event also featured a parade by the volunteers, freewill donations from dignitaries and parents in attendance, underscoring community support for the humanitarian initiative.
Speaking earlier, the Head Teacher, Mrs Onwuzuruigbo Taiwo, described the inauguration as an emotional and fulfilling moment.
“It was awesome. We thought it would not be possible, but today it was glorious,” she said.
Taiwo explained that the school’s participation in the Red Cross Society began when management decided to introduce clubs and societies.
“I told my assistant that I wanted the Red Cross to be one of them. The Red Cross signifies many things; it is service to humanity,” she added.
Also, the Assistant Head Teacher, Mrs Bawo Agbana, expressed appreciation to dignitaries, officials of the Nigerian Red Cross Society and parents for their support and presence.
The Assistant Head Teacher (Administration) described the programme as overwhelming and exciting, expressing gratitude to God for its success.
She said the school’s decision to embrace the Red Cross Society was driven by the need to instill values of love, kindness and service in children from an early age.
“Our impression of the Red Cross is being good to people, showing love and kindness. As the children grow, we want to build the spirit of humanity in them so they can show love and care in school, their communities and Nigeria at large,” she said, adding that early training was crucial given current challenges in the country.
She also delivered the closing remark, after which a photo session was held with the newly inaugurated student volunteers.
Other dignitaries at the occasion include Chairman, Python Officers’ Mess, 6 Division, Port Harcourt, Chief Dan Harrison, and the Sualla 1 of Adagbabiri Kingdom, Chief Col. K. Agbana (Rtd.),
Speaking in an interview at the event, 10-year-old primary five pupil, Precious Ote, said she volunteered to join the Red Cross Society because of her desire to help and care for people.
Similarly, 11-year-old Eno Marvellous of Primary Four expressed excitement at becoming a member of the Red Cross Society, noting that her hope is “to save” lives.
The inauguration highlights ongoing efforts by the Nigerian Red Cross Society to nurture a culture of volunteerism, compassion and humanitarian service among schoolchildren in Port Harcourt and beyond.
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