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Removal Of Fuel Subsidy Worries Experts

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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.

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PDP Kicks As APC Wins FCT Council Polls

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The Peoples Democratic Party (PDP) has inaugurated a special legal team to handle election petitions arising from last Saturday’s Area Council elections in the Federal Capital Territory.

This comes as the All Progressives Congress (APC) won in Abaji, Kwali, AMAC, and Bwari Area Councils, while the PDP secured victory only in Gwagwalada.

The Tide reports that the council elections were held on Saturday, February 21, 2026, across all six FCT area councils, including Abaji, AMAC, Bwari, Gwagwalada, Kuje, and Kwali.

Results announced so far by the Independent National Electoral Commission (INEC) show that the All Progressives Congress (APC) won in Abaji, Kwali, AMAC, and Bwari Area Councils, while the PDP secured victory only in Gwagwalada.

In a statement issued yesterday by PDP’s National Publicity Secretary, Ini Ememobong, the party congratulated its candidates, who emerged winners in the chairmanship and councilor elections.

The opposition party acknowledged the victories, noting that the number of wins was lower than expected but significant given the alleged irregularities during the polls.

“We specifically congratulate the Chairman-elect of Gwagwalada Area Council, Mohammed Kasim, and the councillors who have been declared successful by the Independent National Electoral Commission (INEC).

“This victory, though less in number than we anticipated, is particularly gladdening because it is against the background of unprecedented intimidation, high-powered money politics, and brazen executive brigandage,” the statement read.

Ememobong claimed that there are reports and video evidence indicating voter intimidation and unlawful conduct that influenced the outcome of the elections.

“Reports and video evidence abound where armed security personnel were used to cart away result sheets in polling units, intimidate voters, and unduly influence the outcome of the elections.”

To address complaints and litigations arising from the polls, he said the party has set up a legal team headed by its National Legal Adviser, Shafi Bara’u, Esq.

The statement urged candidates with legitimate grievances to contact the Legal Adviser promptly, as delays could jeopardise their chances in election petition cases.

“The incredible voter apathy in these polls is a direct response to the anti-people Electoral Act 2026, where the people have completely lost faith in the electoral outcomes from elections conducted under this Act.

“These Local Council polls may just be a foreshadowing of the forthcoming general elections in 2027 if changes are not urgently made,” the statement added.

The PDP called on the National Assembly and the President to take corrective action to safeguard the integrity of Nigeria’s democracy.

 

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S’Court Gets New Justice As CJN Swears In Oyewole, Wednesday

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The Chief Justice of Nigeria, Kudirat Kekere-Ekun, will on Wednesday swear in Justice Joseph Oyewole as a Justice of the Supreme Court of Nigeria.

The ceremony is scheduled to be held at 2pm at Courtroom Two of the Supreme Court complex in Abuja.

The court urged guests to adhere strictly to the court’s protocols and security measures.

This was contained in a statement issued yesterday by the Supreme Court’s Director of Information and Public Relations, Dr Festus Akande.

The court described Oyewole’s appointment as a step towards reinforcing the capacity of the apex court to deliver fair and timely judgments.

Recall that Oyewole was, until his elevation, a Justice of the Court of Appeal and Presiding Justice of the Enugu Division, and joins the apex court bench as part of ongoing efforts to strengthen the judiciary.

The National Judicial Council recommended Oyewole for the position alongside 35 others for various judicial offices, following its 110th meeting held on January 13, 2026, and presided over by Justice Kekere-Ekun.

The statement partly read, “The Chief Justice of Nigeria, Hon. Justice Kudirat Kekere-Ekun, GCON, will on Wednesday, 25th February, 2026, preside over the swearing-in ceremony of the newly appointed Justice of the Supreme Court, Hon. Justice Joseph Olubunmi Kayode Oyewole, JCA.”

According to the statement, Oyewole served with distinction at the Court of Appeal and as Presiding Justice of the Enugu Division prior to his elevation.

“His appointment underscores the commitment of the Nigerian judiciary to upholding the rule of law, ensuring justice, and strengthening the bench with experienced and dedicated jurists. He brings a wealth of legal expertise and integrity to the apex court to further enhance its capacity to deliver fair and timely judgments,” the statement added.

The apex court further described the swearing-in as “another significant step in rejuvenating the judiciary and ensuring the continued delivery of justice in line with the highest standards of integrity, competence, and impartiality.”

The Supreme Court reiterated its commitment to justice, fairness and judicial independence for the benefit of Nigerians.

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Fubara Mourns Senator Mpigi

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Rivers State Governor, Sir Siminalayi Fubara, has expressed deep shock and sadness over the sudden passage of  Senator Barinada Mpigi, the Senator representing  South East Senatorial District of Rivers State.

In a tribute to mourn the deceased, Governor Fubara described Mpigi as a brother, a consummate politician and one of the leading lights in Rivers State.

He said that Mpigi died at a critical time when his services were still needed by the people of Rivers  State and prayed God Almighty to grant him eternal rest.

The governor  commiserated with his immediate family,  the Rivers South East Senatorial District and the Senate at large, asking them to take solace in the fact that the deceased lived a good life and impacted positively on the people.

Senator Mpigi died  at the age of 64. Until his death, he was the Chairman of the Senate Committee on Works.

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