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President Tinubu Contemplates ‘Temporary Subsidy’ on Petrol Amid Economic Struggles”

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President Bola Ahmad Tinubu

President Bola Tinubu is considering a “temporary subsidy” on petrol as crude oil prices and foreign exchange rates continue to soar, TheCable understands.

There is yet no final decision, presidency sources told The Cable, but the proposal is “firmly on the table” as Nigerians continue to groan under harsh economic realities following the removal of petrol subsidy in May 2023.

Already, labour unions have threatened to embark on an indefinite strike if the petrol price further surges.

The Kenyan government, on Monday, re-introduced fuel subsidies to curb soaring prices of petrol, kerosene, and diesel in the country.

The move came after months of violent anti-government protests over the burden of high cost of living.

According to a presidency official, the “realistic” amount of petrol consumed in the country is now known following the removal of subsidy on Tinubu’s inauguration, hence the amount spent on subsidy “can now be controlled”.

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On Monday, the Nigerian National Petroleum Company (NNPC) Limited said there are no plans to hike pump prices despite the rise in crude oil prices, landing cost, and fall in the value of the naira.

This is understood to be an option for Tinubu to keep the current prices, although private importers have not made a definite pronouncement on any possible adjustments.

But speculations around another increase in the pump price of petrol (currently at over N600) have caused tensions across the country, leading to panic buying in the early hours of Tuesday.

Since Tinubu announced the removal of the petrol subsidy, Nigerians have had no respite from price hikes.

Foreign exchange challenges, coupled with the unrestrained slump of the naira — Nigeria’s local currency — have led to a sustained upward trend, in the prices of goods and services.

On Monday, TheCable reported that the Central Bank of Nigeria (CBN) plans to implement new measures to stabilise the naira against the dollar.

Weeks after Tinubu was inaugurated as Nigeria’s elected president, his administration — already fraught with legitimacy issues — quickly introduced several policies in a bid to revive the economy.

But with the current economic realities, it appears that these policies are not yet yielding the expected results.

The Cable

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Insecurity: US lawmaker accuses Matawalle of bribe attempt to silence recommendation calling for his sack

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Governor Matawalle

 

Kimberly Daniels, a United States Democratic member of the Florida House of Representatives for District 14, has alleged that Nigeria’s minister of state for defense, Bello Matawalle, attempted to bribe a US official to deflect the narrative of the United World Congress of Diplomats, UN-WCD, report.

The lawmaker made the claim in a viral video released on her official Facebook account on Monday.

She said Matawalle’s alleged move was to cover up the UN-WCD report on Christian genocide in Nigeria, which indicted him.

Daniels insisted that no amount of pressure can silence her stand against the killings of Christians in Nigeria.

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“A US elected official was offered money by Nigeria’s minister of state defense, Bello Matawalle, to change the narrative of the UN-WCD Christian genocide in Nigeria report,” she said in the viral video.

Recall that Daniels, who doubled as the chairperson of UN-WCD, had called for President Bola Tinubu to remove Matawalle over alleged complicity in the killings in Plateau, Benue, Kaduna, and other parts of Nigeria.

Matawalle is yet to officially reply the US lawmaker.

Daniels alleged that following her recent press statement on what she described as targeted killings of Christians in Nigeria, she came under pressure from individuals she linked to the minister, including what she characterised as attempts to discredit her report and “buy support” from US-based elected officials.

According to her, an unnamed American lawmaker allegedly received an offer of financial inducement to publicly counter her position and defend the Nigerian defence leadership.

She claimed to have received evidence of a communication, including a prepared statement and promotional material, purportedly linked to the minister.

She also claimed that the bribery attempt is meant to divide America elected officials not knowing that they are united.

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Just In:President Tinubu Sacks Minister Of Finance

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President Bola Ahmed Tinubu has approved a minor cabinet reshuffle in the membership of the Federal Executive Council.

According to a memo signed by the Secretary to the Government of the Federation, Senator George Akume, two cabinet members, Mr. Wale Edun and Arc. Ahmed Musa Dangiwa are to leave the cabinet while their replacements have been named.

Edun, until the latest development, was the Minister of Finance and Coordinating Minister for the Economy. He has been directed to hand over to Mr. Taiwo Oyedele who is now to take over as Minister of Finance and Coordinating Minister of the Economy. Oyedele was formerly a Minister of State in the ministry.

Also Mr. Muttaqha Rabe Darma (PhD .) has been named as the ministerial nominee and minister designate for the Housing and Urban Development Ministry.

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The memo also directed Dangiwa to hand over to the Minister of State in the ministry.

The memo stated that “all handing over and taking over processes should be completed on or before close of business on Thursday 23rd April, 2026.”

Explaining the President’s decision, Akume said: “These changes are aimed at strengthening cohesion, synergy in governance as well as achieving more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda.”

He said the President, in approving the cabinet reshuffle, has fully exercised his powers as conferred on him by Sections 147 and 148 of the Constitution of the Federal Republic of Nigeria (1999, as amended).

The President thanked the outgoing ministers for their services to the nation while wishing them the best in all their future endeavours.

The President, Akume noted, equally assured all cabinet members that “the process of reinvigoration shall be continuous.”

Signed:

Yomi Odunuga,
Special Adviser, Media and Publicity to the Secretary to the Government of the Federation

21-04-2026

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JUST IN: FG Files 13 Count Charges Against Alleged Coup Plotters

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By Yusuf Danjuma Yunusa

The Federal Government has filed a 13-count charge before the Federal High Court in Abuja against individuals accused of plotting to overthrow President Bola Tinubu. Among those named in the suit are a retired major general, a retired naval captain, a serving police inspector, and three other suspects.

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According to security sources, the coup was scheduled to be executed on Nigeria’s Independence Day. However, the plot was uncovered after preparations and plans were leaked, leading to its successful disruption.

The development prompted the Federal Government to cancel the Independence Day programme—a move described as highly unusual by political observers.

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