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Tinubu Assures Nigerians of Brighter Days Ahead Despite Challenges from Fuel Subsidy Removal

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President Bola Tinubu has reassured Nigerians of a better future despite the challenges posed by the removal of the fuel subsidy.

Speaking at the combined 34th and 35th convocation ceremonies of the Federal University of Technology, Akure, Ondo State, on Saturday, Tinubu, represented by Prof. Wahab Egbewole, Vice Chancellor of the University of Ilorin, highlighted the necessity of the policy.

He explained that his administration inherited a steeply declining economy burdened by heavy debts from fuel and dollar subsidies. “The subsidies, initially aimed at supporting the poor, ironically worsened their conditions and threatened the nation’s economic stability,” Tinubu said.

He emphasized that removing the subsidy and unifying exchange rates were critical steps to prevent economic collapse and ensure a better future. While acknowledging the immediate hardships, the president noted that the country’s macro and micro-economies are steadily improving.

Tinubu assured Nigerians that the “Renewed Hope Agenda” remains on track, adding, “Brighter days are almost here. The challenges call for patriotism, and I assure all Nigerians there is light at the end of the tunnel.”

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Governor Zulum Claims Some People Profit from Boko Haram Insurgency

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Borno State Governor, Professor Babagana Zulum, has alleged that certain individuals are benefiting financially from the prolonged insurgency caused by Boko Haram and are reluctant to see it end.

In an interview with BBC Hausa, the governor lamented how these individuals, who profit from the crisis in the Northeast and neighboring Chad, are hindering efforts to combat the insurgency.

“There are people who don’t want this insecurity to end because they will not be happy with that,” Zulum stated.

While acknowledging progress in the fight against the insurgents, he expressed concern about the resurgence of Boko Haram fighters who have returned to the region after being driven out of Chad.

Zulum called for unity among citizens and urged them to support security agencies to tackle the menace effectively. However, the governor refrained from naming those allegedly profiting from the crisis.

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Pastor Bolaji Idowu of HICC Interrogated by Police in Abuja For Fraud

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Nigerian Pastor, Pastor Bolaji of the Lead Pastor of Harvesters International Christian Center (HICC), is under interrogation with the Force Criminal Investigation Department (FCID) in Abuja. The Pastor has been accused for real estate fraud and illegal money collection.

A report was shared with the confirmation from the police that this is just the beginning of the investigation with Pastor Bolaji. The investigation will be a long process as they will look through his financial records.

A police stated to the media “The Next Level Prayer Conference, Pastor Bolaji Idowu, has been arrested by the police, and he is being grilled in Abuja over real estate fraud and money laundering.”


 

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Senator Jimoh Ibrahim Advocates Heavier Taxes for Wealthy Nigerians to Boost Economy

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Jimoh Ibrahim, the Senator representing Ondo South Senatorial District, has called for the taxation of rich Nigerians to help address the country’s economic challenges. Speaking to the Senate Press Corps after plenary on Tuesday, December 3, Ibrahim emphasized that taxing the wealthy is a global practice during economic crises.

During the plenary, he provided insight into the report on the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). Ibrahim highlighted that implementing higher taxes on affluent citizens would be a first for Nigeria and an effective way to increase the nation’s revenue.

“The rich in Nigeria are not paying enough taxes to be good jolly fellows with the poor. In other countries, taxes are paid on transactions, and the rich contribute more. Luxury taxes should be monitored and collected,” he said.

The senator also proposed the creation of a comprehensive database of taxable wealthy individuals, noting that only 18% of Nigerians currently fall within the tax net, leaving 72% untaxed.

Ibrahim urged the government to focus on transactional taxes for affluent citizens and to introduce laws ensuring effective collection of luxury and other taxes.

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