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Fuel Subsidy: Presidency Breaks Silence, Reveals Why NNPC Is Giving Nigerians 30-Day Discount
The Presidency has rejected claims by African Democratic Congress (ADC) presidential candidate Atiku Abubakar that the Nigerian National Petroleum Company Limited (NNPC) retail fuel discount represents a return to petrol subsidy.....KINDLY READ THE FULL STORY HERE▶
The Federal Government explained that the discount was introduced to commemorate Nigeria’s 66th Independence anniversary and that the national oil company had subsequently agreed to extend the offer for another 30 days.
The Special Adviser to the President on Media and Public Communications, Sunday Dare, disclosed this in a statement issued on Sunday.
According to Dare, the initiative allows NNPC Retail to sell petrol at landing cost for a 30-day period despite the unprecedented surge in global crude oil prices.
He maintained that the arrangement was different from the previous subsidy regime, arguing that the company was using its corporate financial resources to cushion the impact of short-term fluctuations in the international oil market, with the backing of President Bola Tinubu.
“When NNPC Retail agrees to sell fuel at landing cost for 30 days during an unprecedented global crude price spike, it is not writing checks to opaque import cartels.
“It is leveraging its corporate balance sheet to absorb short-term global volatility, backed directly by President Bola Ahmed Tinubu,” Dare stated.
He further explained that the temporary ceiling of ₦1,350 per litre on ex-gantry costs was designed to serve as a buffer against sudden price shocks rather than an attempt by the government to control fuel prices.
Under the arrangement, he said, refiners and importers would absorb temporary increases in costs above the ceiling and recover the difference when international crude prices decline or exchange rate conditions improve.
Dare added that the price ceiling would be reviewed monthly based on published cost audits.
He argued that maintaining relatively stable fuel prices would provide greater economic certainty than allowing frequent fluctuations, which often result in higher transportation costs that rarely decline at the same pace when fuel prices fall.
“₦1,400 today and ₦1,400 tomorrow provides far greater economic stability than ₦1,500 today and ₦1,300 tomorrow,” he said.
The presidential aide also criticised Atiku’s proposal for a targeted production subsidy on petrol, describing it as an economically unsound policy presented for political purposes.
Dare referenced recent remarks by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, who stated that Nigeria produces approximately 1.8 million barrels of crude oil daily for a population exceeding 200 million people.
He stressed, however, that the Federal Government does not have direct ownership of all the crude oil produced in the country.
According to Dare, introducing a broad production subsidy without sufficient crude oil volumes freely available to the government could recreate the problems associated with the former subsidy system.
“To propose a blanket ‘targeted production subsidy’ on crude without the physical, unencumbered volume to back it up is pure economic illiteracy,” he said.
He warned that such a policy could encourage a lack of transparency, fraudulent round-tripping and significant financial losses, which he said had plagued Nigeria under the previous subsidy arrangement.
The Presidency also argued that domestic refineries, including the Dangote Petroleum Refinery, require more crude oil than the government could freely provide without violating existing international supply agreements.
It noted that the limitations had compelled Dangote and other domestic refiners to import crude oil to meet their operational requirements.
The Federal Government further rejected comparisons between crude oil allocation and agricultural commodities such as garri and cassava, insisting that such comparisons failed to reflect the complexities of international commodity markets.
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Former Police Spokesman Frank Mba Begins New Career After Leaving Police Force.
Retired Deputy Inspector-General of Police Frank Mba has launched a law firm in Abuja, marking a new chapter in his professional career months after retiring from the Nigeria Police Force following 34 years of service.....KINDLY READ THE FULL STORY HERE▶
The firm, FRANK MBA LEGAL, was officially unveiled on Friday, October 9, 2026, at its office in Wuse 2, Abuja.
The ceremony attracted serving and retired police officers, government officials, members of the National Assembly and other prominent personalities.
Notable guests included the Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu; former Inspectors-General of Police Mohammed Dahiru Abubakar and Usman Alkali Baba; and retired Deputy Inspector-General of Police Sadiq Abubakar.
Other dignitaries present were retired DIGs Tijani Baba and Dan Kwara, as well as serving DIGs Ekene Onwuemeelie, Isiyaku Abubakar and Suleiman Mohammed.
Speaking at the unveiling, Mba said he established the firm to continue contributing to society by applying his experience in policing, legal education and public service to the legal profession.
“Retirement is not the end of service; it is an opportunity to serve in a different capacity,” he said.
The former police chief explained that he intends to draw on his expertise in leadership, conflict management and the administration of justice to protect people’s rights and facilitate the resolution of disputes.
Mba retired from the Nigeria Police Force in March 2026 after a 34-year career during which he occupied several important positions.
He served as the Force Public Relations Officer on three occasions and also held the position of Police Public Relations Officer in Lagos State.
He subsequently served as Commissioner of Police in Ogun State and was part of the police management team overseeing the Department of Training and Development, where he contributed to personnel development.
His transition into legal practice follows years of academic preparation in the field. Mba obtained his Bachelor of Laws degree from the University of Lagos, attended the Nigerian Law School and was called to the Nigerian Bar in 2002.
He later earned a Master of Laws degree with distinction from the University of Dundee in Scotland.
Beyond his domestic policing career, Mba served with the Nigerian Police contingent to the United Nations Mission in Liberia between 2006 and 2007, an assignment that earned him a United Nations Medal.
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Bayern Munich Breaks Silence On Shock Erling Haaland Transfer Speculation.
Bayern Munich president Herbert Hainer has played down speculation linking the club with a move for Erling Haaland, insisting that the German champions have sufficient attacking options even if Manchester City are relegated from the Premier League over their ongoing financial charges case.....KINDLY READ THE FULL STORY HERE▶
He made the remarks during an interview with German newspaper BILD on Sunday when asked whether Bayern would consider signing the Norwegian international if Manchester City were forced out of the English top flight.
“We have Kane, Olise, Diaz and more. We scored over 120 goals last season. So, I think we are very well equipped in attack,” Hainer said.
Bayern’s attacking options include England captain Harry Kane, Michael Olise and Luis Díaz. Hainer expressed confidence that the existing squad has the quality needed to continue delivering goals.
However, the club president did not completely dismiss the possibility of pursuing Haaland in the future, suggesting that circumstances could change in the coming years.
“If we’re talking about the future in a few years, then there will be a new situation, and we’ll see,” he added.
Manchester City continue to face scrutiny over financial charges, with possible sanctions, including relegation, remaining a subject of speculation as the case and any appeal process unfold.
Meanwhile, concerns have reportedly emerged among senior figures in English football over the possibility of Manchester City competing in next season’s UEFA Champions League even if they are relegated from the Premier League for financial breaches.
The issue centres on the possibility of City winning the Champions League, which could allow them to qualify for the following season’s competition as holders, regardless of their position in the English football pyramid.
According to a BBC Sport report, there is no automatic mechanism preventing a club from participating in a UEFA competition if it qualifies on sporting merit.
The report also states that an independent commission found Manchester City guilty of charges relating to the alleged inflation of sponsorship revenue by £830 million through sham contracts and the concealment of a further £90 million in expenses.
The commission reportedly concluded that City would have breached the Premier League’s profit and sustainability rules in all nine seasons between 2009–2010 and 2017–2018 without the alleged financial manipulation.
Manchester City have strongly denied wrongdoing, describing the outcome as a “Premier League conspiracy”. The club lodged an appeal against the verdict last week.
Questions have also reportedly been raised about whether City could retain their UEFA licence if the verdict is upheld and the club receives significant punishment.
One source said the issue of the club’s licence “had been raised”, adding that a solution “would require the sort of joined up thinking that’s been a bit lacking so far”.
The Football Association issues UEFA licences, although the process is delegated to the Premier League. Licensing decisions are based on current information and do not take historical sanctions or breaches into account.
Under the existing rules, a club that satisfies all minimum admission criteria cannot have its licence refused. The principal grounds for rejection include overdue payments to other clubs or players and outstanding tax liabilities. Match-fixing convictions within the previous 10 years and certain conflicts involving multi-club ownership can also affect eligibility, although neither reportedly applies to City.
Another source questioned the grounds for refusing the club a licence, stating that “licences are awarded on the basis of current financial performance, so the grounds to refuse one are unclear”.
If Manchester City lose their appeal, they could face severe sanctions, potentially including a substantial points deduction, a heavy fine and transfer embargoes.
However, the hearing to determine the appropriate punishment has yet to be scheduled.
A points deduction could prevent City from qualifying for the Champions League through their Premier League position, although qualification through cup competitions could remain possible.
Immediate expulsion from the Premier League is also reportedly among the possible options.
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ADC Suffers Major Blow As Top Sokoto Chieftain Defects To APC.
The All Progressives Congress (APC) has strengthened its presence in Sokoto State following the defection of a chieftain of the African Democratic Congress (ADC), Aminu Ibrahim, to the ruling party.....KINDLY READ THE FULL STORY HERE▶
He explained that his defection was motivated by his desire to contribute to the development of Sokoto State, particularly in education and other key sectors of the economy.
The former rector said he considered it a responsibility to deploy his academic knowledge and professional experience towards improving the welfare of the people.
Reacting to the development, the Sokoto State APC Chairman, Haruna Sarkin-Gobir Adiya, welcomed Ibrahim into the party, describing his arrival as a significant boost to its membership.
Adiya urged the new member to work closely with other party leaders and members to strengthen unity and cooperation as the APC prepares for the 2027 general elections.
Meanwhile, the National Chairman of the APC, Nentawe Yilwatda, has dismissed allegations that the ruling party protects its members from prosecution and conviction over corruption and other offences.
Yilwatda made the remarks during an appearance on Channels Television’s Sunday Politics.
He argued that the party could not support the denial of anyone’s fundamental human rights, including the right to participate in an election, through what he described as strict prosecution.
He said, “Nobody is protected in the APC. I don’t want to mention names, but I know members of our party (APC) who are undergoing prosecution – who appear in court every day. As APC members, we can’t use strict prosecution to go ahead and deny people their fundamental human rights.”
The APC chairman also expressed confidence that President Bola Tinubu would win the presidential election scheduled for January 16, 2026, citing the party’s internal polling results.
According to him, the APC had conducted assessments across the states and its findings indicated that Tinubu was in the lead.
“We have done fact-finding; we are leading. We have done our polls. We have our own polls that give us the real statistics across the states,” he said.
When asked whether the polls indicated that Tinubu would win, Yilwatda responded, “Of course!”
He further maintained that the APC was not intimidated by opposition parties, arguing that the ADC and the Nigeria Democratic Congress (NDC) had an electoral disadvantage because, according to him, they had not won any elections before 2027.
On the tax reforms introduced by the President, Yilwatda said the new tax regime had benefited the poorest Nigerians by expanding the tax base and increasing government revenue.
Addressing the power sector, he also claimed that the APC-led government had enabled state governments to generate, transmit and distribute electricity.
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