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Buhari’s Subsidy Regime, Monumental Fraud -PDP

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The Peoples Democratic Party (PDP) has described the fuel subsidy regime under the President Muhammadu Buhari-led All Progressives Congress (APC) administration as a monumental fraud and an unpardonable scam against the Nigerian state.
The party stated this, yesterday, in a statement signed by its spokesman, Kola Ologbondoyan, and made available to newsmen in Abuja.
This is even as the party counselled officials of APC-led government to “stop lying to Nigerians and tell the truth of how trillions of naira, claimed to have been paid as a subsidy, was cornered by APC leaders and members of the cabal in the Buhari Presidency.”
The PDP also described last Monday’s declaration by the Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Mele Kyari, that there will be no more subsidy and under-recovery as dramatic.
The statement read in part: “Our party notes that if the Federal Government is running away from its subsidy policy, the substantive Minister of Petroleum Resources, President Buhari or his Minister of State, Timipre Sylva, should muster the courage to announce this to Nigerians through a policy statement.
“Our party holds that this sudden announcement of an end to fuel subsidy and commencement of a deregulation regime of the oil sector is a desperate step by the Buhari administration to stave off an investigation into the siphoning of trillions of naira by APC leaders using phoney subsidy claims.
“The PDP invites Nigerians to note how President Buhari set the stage for unprecedented subsidy looting under his regime.
“It would be recalled that in his bid to smear the PDP, President Buhari, while leading the agitation against the decision by the PDP administration to deregulate the oil sector in 2012, declared that fuel subsidy does not exist. He had called the subsidy regime and its operators a fraud.
“Rather than riding on this declaration on the assumption of office, the Buhari Presidency provided official cover for the cabal and APC leaders to use his ascendancy to power to engage in underhand dealings, plunder our nation’s subsidy resources, pillaged trillions of naira from the oil cashbox, only to now turn around to announce an end to a subsidy, seeing that there is nothing left to steal with the current international price crash.”
While chiding President Buhari for alleged lack of openness in the handling of petroleum subsidy since he assumed power in 2015; the PDP said nothing but an alleged scam on the part of APC leaders was responsible for the first citizen’s inability to speak up on the issue.
“We ask, could this be the reason behind Mr. President’s inability to make any concrete statement on the exposed subsidy scam under his administration in the last five years?
“Could it also be the reason the oil subsidy, which Nigerians where enjoying under the PDP, was adjudged a fraud but suddenly ceased to be a fraud from 2015 till Monday, even when Nigerians no longer enjoyed any benefit from the payout within this period?
“Nigerians now know the reason the APC administration had refused to allow for an independent inquest into the alleged N1.4trillion oil subsidy sleaze through which certain APC leaders were benefiting from alleged N58 hidden toll per litre which Nigerians were forced to bear for years after fuel price was increased by the APC administration from PDP’s subsidized cost of N87 to N145 per litre.
“It is now clear to all why the APC administration had resorted to muddling up oil revenue transactions, refused to open up on federation equity of crude while frustrating free flow of information on product exchange and revenue remittances, and why they have been promoting reports on imaginary pipeline losses as well as other opaque and non-transparent transaction in a sector that is directly under the supervision of Mr. President.
“This is in addition to the over N14trillion stolen through various shady oil subsidy contracts, including the stolen N9trillion detailed by the leaked NNPC memo and the N1.1trillion worth of crude stolen with 18 unregistered vessels linked to APC interests, all of which the Buhari Presidency had refused to investigate despite demands by Nigerians.
“The PDP, therefore, insists that the decision of the APC-led administration to embrace subsidy now that oil price had crashed cannot foreclose the irretrievable demand for a forensic audit of all the fraudulent under-recoveries, through which funds meant for subsidy was diverted to private pockets of APC leaders.
“The PDP is also demanding a forensic audit of over-bloated 60 million litres of petrol that NNPC claimed it was importing under its former GMD, Dr. Maikanti Baru, to justify the fraudulent subsidy payout.
“The PDP urges the National Assembly to stand on the side of Nigerians, expose all those involved, who got what in this huge scam against our nation as well as take steps to recover the over N14trillion stolen by the cabal and certain APC leaders and channel same for the welfare of Nigerians especially at this critical time.”

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Victory Over Insurgency Certain, Tinubu Assures

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President Bola Tinubu has expressed confidence that the country would win the fight against insecurity.

The President gave the assurance at the Argungu International Fishing Festival in Argungu town, Kebbi State, on Saturday.

He noted that the relative peace currently being enjoyed in Kebbi and neighbouring states was the result of sustained investments in security intelligence, coordination among security agencies, and community engagement.

Tinubu assured farmers and fishermen of sustained federal support to guarantee food security and safety across the country.

“The peace we are witnessing today is not accidental. It is the outcome of deliberate and sustained efforts. I assure you that the fight against banditry, insurgency, and insecurity will be won.

“Our farmers, fishermen, traders, and families will go about their lawful activities without fear,” he assured.

The President commended the organisers of the festival for sustaining the cultural event for decades, noting that it had endured for 83 years despite social and security challenges.

Describing the Argungu festival as a powerful symbol of unity, resilience, and peaceful coexistence, Tinubu stated that it reflects the richness of the country’s culture and the opportunities to harness its natural and human resources for national growth.

He said, “Today, this festival stands as a powerful symbol of unity, resilience, and peaceful coexistence among our people.

“It reflects the richness of our culture, the strength of our traditions, and the opportunities inherent in harnessing our natural and human resources for national development.”

The President was received by a large crowd of residents, traditional rulers, fishermen, tourists, and government officials from across the country.

The President reaffirmed his administration’s commitment to youth and women empowerment, irrigation development, rural electrification, and agricultural productivity.

Earlier, the Kebbi State Governor, Nasir Idris, said his administration was determined to elevate the Argungu Fishing Festival to full international standards while pursuing aggressive development across critical sectors of the state.

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US Embassy, Lagos Consulate Close Today For President’s Day

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The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.

The mission made this known in a notice shared on its official X page, yesterday.

“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.

According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.

The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.

In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.

Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.

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Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role

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United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.

Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.

The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.

Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.

“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.

The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.

Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.

The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.

In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.

“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.

Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.

He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.

Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.

 

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