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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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Rayyan Microfinance Bank unveiled by Zulum

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Rayyan Microfinance Bank unveiled by Zulum

By: Bodunrin Kayode

Borno State Governor, Babagana Zulum, has unveiled Rayyan Microfinance Bank, headquartered in Maiduguri, the state capital on Sunday.

Rayyan Bank chaired by Dr Usman Shettima is an Ethically Compliant Digital Bank that offers non-interest financing which is an insignia of Islamic banking to rural communities.

With a commitment to ethical compliance practices, the bank also provides a comprehensive range of banking solutions designed to meet the diverse needs of individuals and businesses.

Speaking at the unveiling ceremony held in Forshams Event Centre, Maiduguri, Zulum emphasised that the bank is a critical tool for building resilience and fostering self-reliance among the people of Borno.

He highlighted its projected role in providing the financial backbone communities need to rebuild livelihoods affected by years of insurgency.

“Microfinance banks are crucial for driving financial inclusion, reducing poverty and promoting economic growth through providing accessible financial services such as small loans, savings accounts and insurance amongst others to low income individuals who don’t have access to traditional banking systems in Nigeria.

“I want to commend the vision and tenacity of the chairman and members of this very important bank, I also want to assure you that the government, under my leadership, will partner with you to promote the ideals of the non-interest banking system which is very important to our economy.” said Zulum

Demonstrating Borno State government’s confidence in the new institution, Zulum directed the State Ministry of Finance to immediately open an account with Rayyan Microfinance Bank.

Following the unveiling, the Governor formally presented the bank to the public, urging residents, cooperatives, and business owners to utilise its services to grow their businesses, support local enterprises, and contribute to the state’s economic resurgence.

The event featured keynote addresses and lectures by the academia, regulatory agencies, religious scholars, and other stakeholders, highlighting the potential of non-interest banking to promote ethical investments and foster inclusive economic growth.

Rayyan Microfinance Bank unveiled by Zulum

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Troops neutralise notorious kidnap kingpin in Jama’a LGA, Kaduna

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Troops neutralise notorious kidnap kingpin in Jama’a LGA, Kaduna

By: Zagazola Makama

Troops have neutralised a notorious kidnapping kingpin, Amadu, during a raid in Malafiya town, Atiku Ward of Jama’a Local Government Area of Kaduna State.

Sources said that Amadu was the leader of a criminal syndicate terrorising Malafiya and surrounding communities with crimes ranging from kidnapping and cattle rustling to armed robbery.

According to the sources, Amadu had been on the most-wanted lists of security agencies and was linked to several high-profile crimes in the area, including the killing of a businessman in September 2025 and an attempted abduction of a prominent local figure’s relative.

The sources said that following credible intelligence on the gang’s hideout, troops conducted a raid on Jan. 25, 2026, to apprehend the remaining criminal elements. During the operation, there was an exchange of fire between the troops and the suspects.

“In the course of the engagement, Amadu attempted to escape and was neutralised. A search of the scene led to the recovery of a locally made pistol,” the sources said.

The sources added that the general area has since been calm, while clearance and confidence-building patrols have been intensified to prevent a resurgence of criminal activities.

Troops neutralise notorious kidnap kingpin in Jama’a LGA, Kaduna

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IBUAM: A New Chapter in University Education, Changing the Phase of the Aviation Industry

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IBUAM: A New Chapter in University Education, Changing the Phase of the Aviation Industry

By: Balami Lazarus

The quest and search for knowledge by men is an unending process, a continuous tense as long as humans live here on the mother planet. Therefore, the quest and thirst for knowledge is like mwala in the Bura dialect, which simply means to dig continuously.

For some decades Nigerian educational space has experienced growth and progress in her university system. The emergence of universities to cater to the educational needs of the citizens is clear evidence that there are positive changes in the system. It has also brought improvements and innovations, walking like a giant with nobility robes in the gown of knowledge, understanding, and wisdom provided by the ivory tower.

Isaac Balami University of Aeronautic Management (IBUAM) is one university that was established recently in the bustling Centre of Excellence, Lagos. Registered and licensed by the National Universities Commission (NUC).

The aviation sector, I have observed, is what many lack understanding of. For some, it starts and ends with airports, aircraft, and pilots. But for Isaac David Balami, it begins with aeronautic and management knowledge provided by his university.

Isaac Balami University of Aeronautic Management (IBUAM) is the first of its kind in the aviation industry/educational landscape of our nation. IBUAM is beginning to change and impart on the aviation industry through academic courses offered at the university.

IBUAM disciplines are in aeronautics and management as its academic training. Its objective, therefore, is to train students in aeronautics, engineering, and aviation management and techniques. To further equip students with “skills in aviation operations and airline management.”

Some courses at IBUAM are aerospace engineering, mechatronics engineering, and aviation operations/airline management, among others.

Isaac David Balami is an aeronautic engineer, aviation expert, entrepreneur, and philanthropist. Isaac has also distinguished himself in union leadership of the National Association of Aircraft Pilots and Engineers (NAAPE).

IBUAM: A New Chapter in University Education, Changing the Phase of the Aviation Industry

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