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Subsidy Removal’ll Worsen Nigerians’ Suffering, PFN Tells FG
The Pentecostal Fellowship of Nigeria (PFN) has told the Federal Government that removing fuel subsidy would worsen the suffering of the majority of Nigerians who are already impoverished.
The President of PFN, Bishop Wale Oke, urged the government to shelve the proposed policy in order not to worsen the hardship and trigger crisis in the country.
Oke said this in a statement, yesterday, on the proposed subsidy removal.
He explained that the implementation of the policy would lead to hike in the price of fuel and this would have a ripple effect on prices of goods and services
Oke warned that the implementation of such policy would increase the hardship currently being experienced by the people of the country.
The cleric said prices of foodstuffs and other daily needs were increasingly going out of reach of the people, noting that if the proposed subsidy removal was effected, it would exacerbate the hardship of the people of the nation.
Oke further said the situation in the country was very bad because of the steady decline in the purchasing power of Nigerians as a result of the continuous fall in the value of the nation’s currency.
The statement read, “Everybody will feel it, particularly the less privileged. The negative effects will surely outweigh the positive.
“The cost of transportation for human and goods across the country will skyrocket and other things connected which will have a spiral effect on general living standard of the populace; the suffering will be multi-dimensional. Please let all stakeholders be sensitive to this avoidable path and do the needful.
“By whatever means, let the Federal Government put its heart into ensuring that our refineries are back to life. In addition, in order to stem the rising cost of living, farmers and others connected to them should be encouraged. This is what can help our economy.”
He said the PFN would always support policies that would enhance good governance, but charged the government to this effect to put in place tangible palliative measures that could ameliorate the hardship being experienced.
He said, “Without begging the issue, there should be well defined palliative measures in place that can cushion the effect of the hardship being experienced by Nigerians, especially the commoners. One is not talking about political palliatives that never last. We have seen enough of such.
“An increase in the price of petroleum from its present N165 to N340 per litre can trigger tension and crises in the country which in turn can paralyse our economy if not handled with utmost care.
“Again, the planned introduction of N5,000 for 40million poor Nigerians is to create a cesspool of corruption. How do you define the poor? They, mostly, don’t use telephones. They, mostly, don’t have bank accounts. How will the money get to them?”
Oke advised the government to be wary of policies that could jeopardize the conduct of the 2023 general elections, insisting that all hands must be geared towards steering the wheel of the country to safety.
As a panacea to the rising cost of food items, the PFN President advised that farmers and relevant stakeholders should be empowered with relevant tools and funds through loans with little interest.
Oke, who is also the presiding Bishop of The Sword of the Spirit Ministries, implored the government not to relent in its efforts at ensuring that security challenges in the country become a thing of the past.
Similarly, the Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele has warned President Muhammadu Buhari against the proposed fuel subsidy removal.
In a statement released by his media aide, Osho Oluwatosin, Ayodele warned the government to withhold plans to remove fuel subsidy in the interest of the poor masses because a lot of things would be affected by it.
He made it known that the Nigerian economy isn’t in good shape at the moment and removing subsidy at a critical economic situation would cause more damage than good for the Nigerian economy.
He noted that some banks, companies would be affected and that the debt profile of the country would keep on increasing unless the government swings into action.
Furthermore, he warned Buhari not to be carried away by wrong advice because it would lead his government to nowhere.
‘’The removal of fuel subsidies at a time like this is not advisable because the economy of Nigeria isn’t in good shape. Already, the people are faced with enough hardship and removal of fuel subsidy will only worsen the situation.
‘’When the report came up last week that the government will be replacing subsidy with N5,000 transportation grant for 40million poor Nigerians, I smiled because that plan is not sustainable, there is no provision for it in the 2022 budget, then what’s the plan?
‘’I have said it before that I foresee a massive protest against hunger which will involve everyone in the country, the government doesn’t have to wait till this happens, that’s why I warned them ahead, but the path they are toiling right now is moving towards the direction of the protest. They have gotten it wrong and a time will come when political leaders will regret their positions because there will be attacks against them from everywhere by those who elected them.
‘’I advise the Federal Government to hold on with the plans to remove subsidy for the sake of the masses and for peace to reign in the country. If not, there will be an uprising,’’ he said.
Meanwhile, the Archbishop of the Enugu Ecclesiastical Province, Church of Nigeria, Anglican Communion, Most Rev. Emmanuel Chukwuma has asked the Federal Government to jettison the idea of paying N5,000 palliative to 40million Nigerians.
The government said the decision was to cushion the effect of the planned removal of fuel subsidy.
But Chukwuma, who rejected the removal of subsidy, described the proposed N5,000 palliative “as a huge disgrace.”
He said this during a press conference on the activities lined up for the 50th Anniversary of the Enugu Diocese, Anglican Communion.
While noting that the Enugu Diocese was concerned about the level of governance of Nigeria, he added that “we are also concerned about peace and the unity of Nigeria, as well as infrastructural development.”
He called on the government “to be sensitive about the situation of Nigeria; we frown against the killings, the banditry, the kidnappings, inequality, injustice and all the evils.
“Of late, we can see how ‘Mkpuru Mmiri’ is destroying our youths, it is highly condemnable. We are calling on our youths to please avoid this so that they don’t get their heads out of order. This is not how they will become future leaders.
“Right now, I want to say that the government of Nigeria has not treated the South-East fairly; particularly now that we are getting into the yuletide, Enugu-Onitsha Expressway is a total disaster, Enugu-Port Harcourt they are putting it to use but it is not yet complete.
“We are calling on the minister of works to stop playing pranks and politics with the roads in the South-East. Rail transport should also be extended to the South-East; we see no reason the minister of transport should neglect his own zone.
“It is important for our government to know that most youths are angry; they are angry because they are hungry. I just heard about giving N5,000 to 50million Nigerians, it is a disgrace. It will not bring any positives on our people. We are also frowning at galloping inflation.
“Our naira is becoming useless and something must be done about it. E-naira or whatever is not the solution at all.”
He also called on the residents of South-East not to toy with the on-going voter’s registration exercise, stressing that “these things count; South-East should stop shortchanging themselves; that’s the only way they will have a say in 2023.”
On the church’s anniversary, Chukwuma disclosed that, “It became a Diocese in August, 1970; exactly last year August, Enugu became 50 years of its inauguration with the first Bishop, Rt. Rev. Gideon Nweke Otubelu. By the grace of God, he championed the course of Enugu Diocese for 27 years.
“Last year, when it became 50 years of Enugu’s inauguration as a Diocese, we could not celebrate because of COVID; we had to shift it to this year.
“Right now, we have mapped out a one-week anniversary programme to celebrate the 50 years of Enugu Diocese. We started with a crusade which is going to last till Sunday and we have decided that from last week of this month, we will have activities from church to church, and rally, and then end it up with thanksgiving service on the 5th of December at the Cathedral Church of the Good Shepherd.
“More importantly, the two days out of it all are the 4th and the 5th of December. On the 4th, we shall be having a rally at the Christ Church field, where all the churches will assemble to have a rally for the 50th anniversary and they are going to march, church by church, archdeaconry by archdeaconry and so on.
“There, we will also have a dedication anniversary of the diagnostic centre of our hospital at the Good Shepherd Specialist Hospital, Uwani, Zik Avenue. The diagnostic centre is necessary to complement the hospital because we believe in health care, we believe in mission; on that same 12th, we are also going to dedicate a building built by the women at the Brethren Home Convent.
“Then on the 5th of December, which is Sunday, will be thanksgiving day, during which all the churches in the diocese and the dioceses created out of Enugu, 11 of them will also participate. Enugu has given birth to 11 Dioceses, with Enugu making it 12, forming what is now the ecclesiastical province of Enugu, for which I’m the Archbishop. We have the Nsukka Diocese, Abakaliki, Oji-River, Enugu North, Awgu-Aninri, Nike, Mgbo, Afikpo, Udi and Eha-Amufu Dioceses.
“Enugu Diocese is out to execute pragmatic evangelism; Enugu Diocese is out to make sure that we care for the poor, the less privileged, the widows, orphans and those who are displaced.”
President Bola Tinubu yesterday signed into law four tax reform bills aimed at transforming Nigeria’s fiscal and revenue framework.
The four bills include: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.
The ceremony took place at the Presidential Villa, yesterday.
The ceremony was witnessed by the leadership of the National Assembly and some legislators, governors, ministers, and aides of the President.
The presidency had earlier stated that the laws would transform tax administration in the country, increase revenue generation, improve the business environment, and give a boost to domestic and foreign investments.
“When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Special Adviser to the President on Media, Bayo Onanuga said on Wednesday.
Before the signing of the four bills, President Tinubu had earlier yesterday, said the tax reform bills will reset Nigeria’s economic trajectory and simplify its complex fiscal landscape.
Announcing the development via his official X handle, yesterday, the President declared, “In a few hours, I will sign four landmark tax reform bills into law, ushering in a bold new era of economic governance in our country.”
Tinubu made a call to investors and citizens alike, saying, “Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.”
He described the bills as not just technical adjustments but a direct intervention to ease burdens on struggling Nigerians.
“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet,” Tinubu wrote.
According to the President, “They will unify our fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.”
He added that the long-standing burden of Nigeria’s tax structure had unfairly weighed down the vulnerable while enabling inefficiency.
The tax reforms, first introduced in October 2024, were part of Tinubu’s post-subsidy-removal recovery plan, aimed at expanding revenue without stifling productivity.
However, the bills faced turbulence at the National Assembly and amongst some state governors who rejected its passing in 2024.
At the NASS, the bills sparked heated debate, particularly around the revenue-sharing structure, which governors from the North opposed.
They warned that a shift toward derivation-based allocations, especially with VAT, could tilt fiscal balance in favour of southern states with stronger consumption bases.
After prolonged dialogue, the VAT rate remained at 7.5 per cent, and a new exemption was introduced to shield minimum wage earners from personal income tax.
By May 2025, the National Assembly passed the harmonised versions with broad support, driven in part by pressure from economic stakeholders and international observers who welcomed the clarity and efficiency the reforms promised.
In his tweet, Tinubu stressed that this is just the beginning of Nigeria’s tax evolution.
“We are laying the foundation for a tax regime that is fair, transparent, and fit for a modern, ambitious Nigeria.
“A tax regime that rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity,” he stated.
He further acknowledged the contributions of the Presidential Fiscal Policy and Tax Reform Committee, the National Assembly, and Nigeria’s subnational governments.
The President added, “We are not just signing tax bills but rewriting the social contract.
“We are not there yet, but we are firmly on the road.”
The Senate has issued a 10-day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) over its failure to appear before the Senate Committee on Public Accounts probing alleged financial discrepancies amounting to over ?210 trillion in its audited reports from 2017 to 2023.
Despite being summoned, no officials or external auditors from NNPCL showed up yesterday.
However, representatives from the representatives of the Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission and Department of State Services were present.
Angered by the NNPCL’s absence, the committee, yesterday, issued a 10-day ultimatum, demanding the company’s top executives to appear before the panel by July 10 or face constitutional sanctions.
A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25, was read at the session.
It cited an ongoing management retreat and requested a two-month extension to prepare necessary documents and responses.
The letter partly read, “Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for a period of two months from now to enable us to collate the requested information and documentation.
“Furthermore, members of the Board and the senior management team of NNPC Limited are currently out of the office for a retreat, which makes it difficult to attend the rescheduled session on Thursday, 26th June, 2025.
“While appreciating the opportunity provided and the importance of this engagement, we reassure you of our commitment to the success of this exercise. Please accept the assurances of our highest regards.”
But lawmakers rejected the request.
The Committee Chairman, Senator Aliyu Wadada, said NNPCL was not expected to submit documents, but rather provide verbal responses to 11 key questions previously sent.
“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable,” Wadada stated.
“If they fail to show up by July 10, we will invoke our constitutional powers. The Nigerian people deserve answers,” he warned.
Other lawmakers echoed similar frustrations.
Senator Abdul Ningi (Bauchi Central) insisted that NNPCL’s Group CEO, Bayo Ojulari, must personally lead the delegation at the next hearing.
The Tide reports that Ojulari took over from Mele Kyari on April 2, 2025.
Senator Onyekachi Nwebonyi (Ebonyi North) said the two-month request suggested the company had no answers, but the committee would still grant a fair hearing by reconvening on July 10.
Senator Victor Umeh (Anambra Central) warned the NNPCL against undermining the Senate, saying, “If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog.”
Last week, the Senate panel grilled Segun and other top executives over what they described as “mind-boggling” irregularities in NNPCL’s financial statements.
The Senate flagged ?103 trillion in accrued expenses, including ?600 billion in retention fees, legal, and auditing costs—without supporting documentation.
Also questioned was another ?103 trillion listed under receivables. Just before the hearing, NNPCL submitted a revised report contradicting the previously published figures, raising more concerns.
The committee has demanded detailed answers to 11 specific queries and warned that failure to comply could trigger legislative consequences.
The National Association of Nigerian Travel Agencies (NANTA) said over 17 million Nigerians travelled out between 2023 and 2024.
This is as the association announced that it would be organising a maiden edition of Eastern Travel Market 2025 in Uyo, Akwa Ibom State capital from 27th to 30th August, 2025.
Vice Chairman of NANTA, Eastern Zone, Hope Ehiogie, disclosed this during a news briefing in Port Harcourt.
Ehiogie explained that the event aims to bring together over 1,000 travel professionals to discuss the future of the industry in the nation and give visibility to airlines, hospitality firms, hospitals and institutions in the South-South and South-East, tagged Eastern Zone.
He stated that the 17 million number marks a significant increase in overseas travel and tours.
According to him, “Nigerian travel industry has seen significant growth, with 17 million people traveling out of the country in 2023”.
Ehiogie further said the potential of tourism and travel would bring in over $12 million into the nation’s economy by 2026, saying it would be a major spike in the sector, as 2024 recorded about $4 million.
“The potential of tourism and travel is that it can generate about $12 million for the nation’s economy by 2026. Last year it was $4 million.
“In the area of travels, over 17 million Nigerians traveled out of the country two years ago for different purposes. This included, health, religious purposes, visit, education and others,” Ehiogie said.
While highlighting the potential of Nigeria’s tourism, he said the hospitality industry in Nigeria has come of age, saying it is now second to none.
The Vice Chairman of NANTA, Eastern Zone further said, “We are not creating an enabling environment for business to thrive. We need to support the industry and provide the necessary infrastructure for growth.”
He said the country has a lot of tourism potential, especially as the government is now showing interest in and supporting the sector.
Ehiogie emphasized that NANTA has been working to support the industry with initiatives such as training schools and platforms for airlines and hotels to sell their products.
He added, “We now have about four to five training schools in the region, and within two years, the first set of students will graduate. We are helping airlines sell tickets and hotels sell their rooms.”
Also speaking, former Chairman of the Board of Trustees of NANTA, Stephen Isokariari of Dial Travels, called for more support from the industry.
Isokariari stated, “We need to work together to grow the industry and contribute to the nation’s Gross Domestic Product.
“With the right support and infrastructure, the Nigerian travel industry has the potential to make a significant contribution to the nation’s economy.”