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ActionAid Nigeria Demands Immediate Action on Fuel Price Increases, Calls for Economic Reform

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ActionAid Nigeria Demands Immediate Action on Fuel Price Increases, Calls for Economic Reform

By: Michael Mike

ActionAid Nigeria has condemned the latest hike in pump price of petroleum products, demanding immediate action from the government on economic reform

The Non Governmental Organisation said increasing the minimum wage from N30,000 to N70,000 was never enough to bring economic succour

ActionAid, in a statement on Wednesday signed by its Country Director, Andrew Mamedu asked that: “The Federal Government must prioritise the welfare of Nigerian Citizens over revenue generation and provide a comprehensive plan to protect vulnerable citizens and support small businesses within 48 hours. This plan must include measures to mitigate the impact of high fuel prices on the poor and vulnerable.”

Mamedu lamented that: “Since President Bola Ahmed Tinubu assumed office in May 2023, the removal of fuel subsidies has led to a harsh economic reality for many Nigerians. Despite efforts to recover, the Federal Government’s decision to allow fuel prices to surge again has worsened the situation, leading to a ripple effect on the economy.

“In May 2023, just before President Tinubu’s inauguration, petrol prices were already high at N185 per litre, causing widespread discontent among Nigerians due to the accompanying high cost of goods. However, on his first day in office, fuel prices skyrocketed to N500 per litre, leading to a sharp surge in the prices of essential commodities.

“Since then, fuel prices have continued to rise steadily. By August 2023, it reached N626.70 and continued to fluctuate, surmounting N668.3 in January 2024 and N770.54 in July 2024. As of September 2024, it has increased again to a staggering N897 per litre, which greatly worsens the situation for many Nigerians.”

He noted that: “Clearly, Nigeria’s fuel pricing is heavily influenced by the dollar-to-naira exchange rate due to the country’s reliance on imported fuel, which is denominated in US dollars (USD). Consequently, a depreciation of the naira against the dollar leads to higher fuel import costs, resulting in increased prices at the pump as well.

“This direct correlation between exchange rates and fuel prices makes Nigeria’s fuel pricing vulnerable to exchange rate fluctuations. Any changes in the dollar-to-naira rate will have a ripple effect on fuel import costs, ultimately impacting the prices consumers pay at the pump, and highlighting the need for a more stable exchange rate to mitigate the volatility in fuel pricing.”

He added that: “It is one thing to fix an impending problem of inflation in the economy, and it is another thing to provide temporary solutions to keep the mouths of Nigerians shut. Although the minimum wage has increased from N30,000 to N70,000, it fails to address the root causes of inflation and does little to alleviate the suffering of Nigerians, who continue to bear the brunt of skyrocketing commodity prices, particularly fuel costs. We need a comprehensive and sustainable solution, not just a quick fix to silence the masses.”

On the latest increase, Mamedu said: “ActionAid Nigeria strongly condemns this development, which will push millions of Nigerians deeper into poverty. We demand transparency in fuel pricing, including a clear breakdown of costs and revenues associated with fuel imports, refining, and distribution. The Federal Government must provide a detailed explanation of the fuel pricing mechanism to ensure accountability and trust.

“To address the root causes of this crisis, we also demand the establishment of an independent committee to monitor fuel pricing and ensure transparency. This committee must include representatives from civil society, the private sector, and government agencies. Additionally, the Federal Government must invest in Nigerian refineries and provide targeted support to vulnerable citizens and small businesses affected by fuel price increases.”

He said: “Concurrently, the Federal Government must implement a comprehensive economic reform plan as soon as possible, including measures to diversify the economy, increase foreign exchange earnings, and stabilize the naira. This plan should include specific targets and timelines for reducing inflation, improving foreign investment, and promoting local production. We demand transparency and regular progress updates to ensure accountability and build trust with the citizens.”

Mamedu warned that: “ActionAid Nigeria will hold the government accountable for their actions and demand a better future for all Nigerians. We will take all necessary actions to ensure that the government is held accountable to Nigerian citizens.”

ActionAid Nigeria Demands Immediate Action on Fuel Price Increases, Calls for Economic Reform

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Yobe: Buni urges journalists to uphold professionalism

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Yobe: Buni urges journalists to uphold professionalism

By: Yahaya Wakili

Governor Mai Mala Buni of Yobe State has appealed to media practitioners in the state to continue to uphold professionalism while discharging their responsibilities.

He urges the journalists to abide by the ethics of the profession, remain united, and promote peace and harmony among themselves.

The governor made the appeal today while receiving the newly elected leadership of the Nigeria Union of Journalists (NUJ) Correspondents Chapel, led by its elected chairman, Mr. Nabilu Balarabe of the News Agency of Nigeria (NAN), at the Government House, Damaturu.

Ably represented by his deputy, Hon. Idi Barde Gubana (Wazirin Fune), he commends journalists in the state for their synergy and collaboration with the state government in projecting a positive image of the state.

Governor Buni commended the journalists for their professionalism and constructive engagement, acknowledging the critical role the media plays in democratic governance and national development.

He pledged the state government’s continued support and collaboration with the correspondents’ chapel to ensure the success of the present administration, particularly in promoting government policies, programs, and achievements.

Earlier, the newly elected chairman, Mr. Nabilu Balarabe, said the visit was to pay homage and formally present the new leadership of the chapel to the governor.

He said recently the chapel conducted an election of the leadership of the chapel, in which Nabilu Balarabe of the News Agency of Nigeria (NAN) emerged as chairman and Mr. Musa Buba Mingi of Channels Television as vice chairman.

Others include Malam Habibu Idris Gimba of Daily Trust, Secretary; Mr. Michael Oshoma of TVC, Treasurer; Sa’adatu Maina of Neptune Prime, Assistant Secretary; and Muhammed Mai Tela of People’s Daily, Auditor.

Yobe: Buni urges journalists to uphold professionalism

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NGX woos NPF to list viable businesses

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NGX woos NPF to list viable businesses

The Group Chairman Nigerian Exchange Group, Dr. Umaru Kwairanga has urged the Nigerian Police Force to consider listing other viable business entities of its organisation on the Exchange as it has done with its Microfinance Bank.

Kwairanga made the call on Wednesday in Lagos at the closing gong ceremony in honour of the Inspector General of Police, Kayode Egbetokun, who was at the trading floor of the Nigerian Exchange.

Kwairanga gave the NGX’s assurance that such companies if listed would be given free publicity, easy access to greater ponds of capital, and greater transparency and efficiency in their operations.

He said that the Exchange, its operators and quoted companies would continue to provide environment conducive for NPF businesses, in view of the critical role that the police play in ensuring a stable environment for businesses to thrive.

“Our quoted companies have been key to the success of the Police Trust Fund and stand ready to cooperate with the Nigerian Police in other ways that you require logistical and other support to ensure that we have a secure nation and capital market.

“Apart from its core duties of ensuring Nigeria’s internal security, the Nigerian Police Force has over the years established and grown various thriving businesses for the welfare of its personnel.

“One of them, the Nigerian Police Microfinance Bank is in fact quoted on the main board of the Exchange and doing very well in terms of capital appreciation, dividends and corporate governance,” he said.

The NGX boss advised that the Pension Fund should consider increasing its allocations to eligible equity quoted on the Nigerian Exchange.

While commending Egbetokun for visiting the Exchange, Kwairanga pledged to strengthen the mutually beneficial relationship going forward.

Our Correspondent reports that the visit underscores the continued collaboration between key national institutions in promoting market confidence, investor trust and a transparent, well-functioning capital market.

NGX woos NPF to list viable businesses

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Turkish–Nigerian Poets Unite in Abuja to Promote Peace Through Art

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Turkish–Nigerian Poets Unite in Abuja to Promote Peace Through Art

By: Michael Mike

Nigeria and Turkey have reinforced their cultural partnership through a poetry exchange in Abuja designed to foster peace, dialogue, and mutual understanding between the two nations.

The literary gathering, hosted by the Yunus Emre Enstitüsü, brought together poets, cultural practitioners, diplomats, and arts administrators from both countries to explore shared human values through poetry and performance.

Speaking at the event, Director-General of the Kaduna International Film Festival, Israel Kashim Audu, described poetry as a powerful medium for cultural diplomacy and peacebuilding. He noted that although Turkish poetry is deeply influenced by Anatolian mysticism, Nigerian poetry often reflects post-colonial experiences, identity, and nationhood.

“Despite their different historical contexts, both poetic traditions meet in their pursuit of justice, harmony, and human dignity,” Audu said.

The Abuja Coordinator of Yunus Emre Enstitüsü, Fatih Erkin Mahdum, said the institute has remained committed to promoting Turkish language, arts, and culture in Nigeria since its establishment in 2021. He added that collaborations with Nigerian artists are central to strengthening cultural ties and encouraging creative exchange.

Diplomatic presence at the event underscored its international significance. Mrs Florence Nzako, Counsellor at the Embassy of the Democratic Republic of Congo, alongside Solveig Andresen of the Norwegian Embassy, welcomed participants and commended the initiative for using art to advance peace and intercultural understanding.

Poets at the gathering presented works exploring themes of peace, love, displacement, and resilience, drawing poetic connections between the Bosphorus and the Niger River as symbols of unity and shared humanity.

Also speaking, Director-General and Artistic Director of the National Troupe of Nigeria, Kattumu Bulama Gana, said artistic collaborations provide unique opportunities to understand common histories and aspirations. He described the poetry exchange as a valuable contribution to cultural diplomacy between Nigeria and Turkey.

Turkish–Nigerian Poets Unite in Abuja to Promote Peace Through Art

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