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Shock Clarification: Shettima Denies Subsidy Removal Was In Tinubu’s Inaugural Speech

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4 months ago

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Vice President Kashim Shettima has clarified that the removal of fuel subsidy by President Bola Tinubu on May 29, 2023, at Eagle Square, Abuja, was a personal and bold policy decision, and not part of his official inauguration speech.....KINDLY READ THE FULL STORY HERE▶

He made the clarification while speaking at the Nasarawa Economic Summit 2026, where he served as Special Guest of Honour.

Shettima explained that the decision triggered major shifts in petrol prices and the overall cost of living, but insisted that the reforms were necessary to rescue Nigeria’s economy from deeper crisis.

According to him, the Tinubu administration inherited a fragile economic situation, including very low foreign reserves that could barely support fuel imports for a short period.

“Some of the economic decisions that the Presidency took were almost inevitable because even our national reserves were paltry and not even enough to import fuel for one month,” he said.

He added that President Tinubu deliberately avoided announcing the severity of the situation publicly at the time, instead taking what he described as a difficult but necessary step behind the scenes.

“The removal of the fuel subsidy was not part of his official speech. He kept it close to his heart,” Shettima stated.

The Vice President also maintained that the administration’s reforms are beginning to yield positive results, noting improvements in investor confidence, capital market performance, and foreign reserves.

He claimed that the economy is gradually stabilising, with rising stock values and renewed interest from investors.

“Confidence is returning to the marketplace… Capital follows credibility, stability, and direction,” he said.

Shettima’s comments come shortly after President Tinubu told investors in Paris that Nigeria had achieved foreign exchange stability following the removal of fuel subsidy, describing it as a key step in easing economic pressure.

Meanwhile, Finance Minister Wale Edun and other officials have continued to defend the policy, insisting it has helped remove long-standing distortions in the economy and will support long-term growth despite short-term hardship.

The subsidy removal remains one of the most controversial reforms of the Tinubu administration, with government officials highlighting economic gains while many Nigerians continue to feel the impact on transport, food, and living costs.

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The Ultimate Political Twist: Olubadan Drops Bombshell, Declares Tinubu ‘Not An APC Man’ And Deserves To Rule for A Long Time!.

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3 minutes ago

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August 24, 2026

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  • The Olubadan of Ibadan, Oba Rasheed Ladoja, has stated that President Bola Tinubu’s leadership should be judged beyond party lines, describing him as a leader for all citizens who has earned a prolonged tenure through his administration’s achievements.....KINDLY READ THE FULL STORY HERE▶

    • Speaking on Monday during the groundbreaking ceremony for the dualisation of the Ibadan-Ijebu Road in Ogun State, the monarch clarified that the gathering was a platform to express gratitude to the President for endorsing the critical infrastructure project rather than a partisan rally.

    • Highlighting the security challenges associated with the route, Ladoja noted that the highway had previously been a hotspot for kidnappings, making its reconstruction vital for regional safety and economic connectivity.

    • Elaborating on his stance, the monarch remarked, “I’ve been hearing everybody talking APC, APC. Bola Tinubu is not an APC man, no. Bola Tinubu is working and deserves to be president for a long, long time… He’s not an APC president. He’s president of Nigeria.”

    • While maintaining that the event was non-partisan, Ladoja acknowledged that the President’s tangible delivery of projects could bolster the ruling party’s appeal, noting that opposition groups would need to present a genuinely viable alternative to win over voters.

    • The Olubadan concluded by expressing confidence that the electorate in Ibadan land will ultimately exercise their democratic choice based on performance when the time for elections arrives.

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Not On Our Watch: Aiyedatiwa Defends Mega Flyover Project And Slams Claims Of Waste Under Tinubu’s Watch!.

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8 minutes ago

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August 24, 2026

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  • Ondo State Governor, Lucky Aiyedatiwa, has clarified that President Bola Tinubu did not issue a blanket ban on state governors building flyovers, stressing that his administration’s new 2.38-kilometre flyover project at Oba Adesida Road in Akure is both necessary and urgent.....KINDLY READ THE FULL STORY HERE▶

    • Speaking at the project’s flag-off ceremony on Monday, Governor Aiyedatiwa warned against quoting the President out of context, noting that President Tinubu’s previous caution—made during a meeting with the Olubadan of Ibadan, Oba Rasheed Ladoja—only targeted flyovers built in low-traffic areas with no clear economic value.

    • Aiyedatiwa credited the President’s economic reforms for increasing financial allocations to the 36 states and the Federal Capital Territory, enabling infrastructure funding.

    • Explaining the rationale behind the project, the governor highlighted that the Oba Adesida axis serves as a critical commercial, administrative, and social artery in Akure, but has suffered from severe traffic congestion, rising vehicular movement, and accident risks due to rapid growth.

    • Describing the initiative as a core part of his urban renewal and infrastructure strategy, Aiyedatiwa stated that a careful evaluation was conducted before launching the project to protect citizen safety and boost economic productivity.

    • Finally, the governor directed the project contractors to strictly respect the approved timelines, design specifications, budget, and professional standards to deliver long-lasting value to the people of Ondo State.

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Blockbuster Return: Super Eagles Goalkeeper Amas Obasogie Makes Sensational Comeback To Bendel Insurance!.

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16 minutes ago

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August 24, 2026

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  • Super Eagles goalkeeper Amas Obasogie has officially re-signed with the Nigeria Premier Football League (NPFL) side Bendel Insurance on a one-year deal.....KINDLY READ THE FULL STORY HERE▶

    • The 26-year-old goalkeeper returns to his former club and captaincy roots after spending two seasons playing abroad in the Ethiopian and Tanzanian leagues.

    • Bendel Insurance welcomed back their former star on their official X account, stating, “Back where it all began. Former captain and Super Eagles goalkeeper Amas Obasogie returns and signs a one-year contract. Welcome home, Amas. The story continues.”

    • Following stints with Ethiopia’s Fasil Kenema and Tanzania’s Singida Black Stars, Obasogie shared on social media that his time away has equipped him with renewed experience, hunger, and determination to give his all for the badge and supporters.

    • He also extended a heartfelt farewell message to Singida Black Stars, expressing gratitude for the memories and friendships made during his time in Tanzania.

    • Having been part of the Super Eagles squad that secured a bronze medal at the 2025 Africa Cup of Nations in Morocco, Obasogie’s homecoming provides Bendel Insurance with a seasoned presence in goal ahead of the 2026/27 NPFL season.

    • In related NPFL news, Niger Tornadoes resumed training at the newly renovated Bako Kontagora Stadium in Minna on August 24, pending final league approval, as they prepare to host Enyimba for their opening fixture of the upcoming campaign.

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