Author: Citynews

Popular Nollywood actress Doris Ogala has left many stunned with her confession and revelation about clergyman, Pastor Chris Okafor. While attending a church event, she revealed that she was the epitome of stubbornness as a child. Doris disclosed that she once slept with 2 dead bodies and jumped from the roof to the bush, yet is still alive. “I am the definition of stubborn. I have jumped from the roof to the bush, and God kept me alive. I have slept with two dead bodies inside the room, and I could be killed the next day. But God said, “It’s not…

Former presidential candidate, Peter Obi, has claimed the hike in petrol and diesel prices is due to a lack of strategic planning, warning that external shocks to the global economy quickly affect local prices. Obi stated this in a statement issued on Thursday. He highlighted the impact of the ongoing US-Iran conflict on global oil markets, saying, “A few weeks ago, petrol was selling for less than ₦1,000 per litre, but today it costs over ₦1,200 per litre. “Diesel, which was also priced below ₦1,000 per litre, is now over ₦1,500 per litre. These rapid increases illustrate how quickly external…

A new study has revealed that about 63 per cent of Nigerians fell below the poverty line following the removal of petrol subsidy, highlighting the welfare impact of the country’s recent economic reforms. The research, presented on Thursday at a stakeholders’ dialogue organised by the Agora Policy in Abuja, showed that the national poverty headcount rose sharply from a baseline of about 49.8 per cent to roughly 63 per cent after the subsidy removal. The rate later moderated slightly following the introduction of social protection measures. The dialogue, themed “Sustaining and Deepening Economic Reforms in Nigeria,” brought together policymakers, economists, civil society leaders, and private sector representatives to examine the effects of the Federal Government’s reform agenda. Participants included the Deputy Governor for Economic Policy at the Central Bank of Nigeria, Muhammad Abdullahi; the Special Adviser to the President on Finance and Economy, Sanyade Okoli; the World Bank Senior Economist for Nigeria, Samer Matta; the Country Director of CARE International, Hussaini Abdu; and the Executive Director of Agora Policy, Waziri Adio. The study was presented by a Senior Lecturer in the Department of Economics at the University of Abuja, Mohammed Shuaibu. It analysed the economic and social consequences of major reforms introduced by the Federal Government, including the removal of petrol subsidy and adjustments in electricity tariffs. President Bola Ahmed Tinubu had announced the removal of the petrol subsidy during his inauguration on May 29, 2023. According to the study, the policy triggered widespread price increases across the economy and significantly affected household welfare. “After the subsidy removal, poverty increased from a baseline of about 50 per cent to 63 per cent,” Shuaibu said. He noted that social protection initiatives helped reduce the severity of the impact but did not fully reverse the decline in welfare conditions. “However, when social protection measures such as cash transfers were introduced, the poverty rate moderated to around 56.2 per cent,” he added. The findings showed that the effects of the reform were uneven across income groups. While high-income households were largely shielded from the shocks, low-income households experienced the greatest decline in purchasing power. According to the data, poverty among low-income households rose sharply from about 50 per cent before the subsidy removal to around 63 per cent afterwards. At the same time, the national poverty gap widened significantly. The poverty gap increased from 31.6 per cent to over 45 per cent, indicating deeper deprivation among poor households. Although social transfers slightly reduced the gap, the improvement remained limited due to delays in implementing intervention programmes and the relatively small scale of support provided. The study also examined how the reforms affected household consumption patterns. Findings showed that consumption declined across all income groups following the removal of the subsidy and the adjustment of electricity tariffs. “Across the board, household consumption declined following both the subsidy removal and electricity tariff adjustments. However, social transfers helped cushion the impact, especially for low-income households,” Shuaibu explained. The decline in consumption was particularly pronounced among rural and low-income households, where rising energy and transport costs significantly reduced spending capacity. Urban low-income households also experienced reduced consumption, though the effect was slightly moderated where social transfers were available. Beyond household welfare, the research assessed the broader macroeconomic impact of electricity tariff reforms. The study found that tariff adjustments caused a modest rise in consumer prices, initially increasing prices by about 0.26 per cent and later to roughly 0.52 per cent after social protection measures were included. However, the electricity reform also had a small positive impact on economic output. Real Gross Domestic Product increased by about 0.42 per cent under the reform scenario, before moderating to around 0.21 per cent when social protection programmes were factored into the model. Firm-level investment also recorded slight gains following the tariff adjustments, though part of the improvement was offset by the cost of implementing social protection measures. In contrast, the removal of the petrol subsidy had a contractionary effect on economic activity. Rising fuel prices and transport costs triggered inflationary pressures that affected business operations and investment. The research also incorporated insights from focus group discussions conducted across Nigeria’s six geopolitical zones. Participants generally acknowledged that reforms were necessary given the country’s fiscal and macroeconomic challenges, but many criticised the speed of their implementation. According to the study, many households responded to the economic shocks by cutting consumption, reducing transport use, rationing electricity, and borrowing to meet basic needs. “Households adjusted to the shocks not through recovery but through sacrifice,” Shuaibu said. Businesses reported similar challenges, stating that rising fuel and electricity costs significantly increased operating expenses. Some firms said they had been forced to raise prices, reduce staff strength, or shut down operations. Others said they switched to alternative energy sources to cope with rising electricity tariffs and fuel costs, although many complained that government support programmes had either not reached them or were insufficient. The study concluded that while the reforms were necessary to correct structural distortions in the Nigerian economy, their implementation created severe short-term shocks. Providing a monetary policy perspective, CBN Deputy Governor Abdullahi said the reforms became unavoidable because the Nigerian economy had been weakened by deep structural distortions. “Nigeria faced severe macroeconomic imbalances, economic distortions, and collapsing revenues before major reforms began,” he said. He explained that Nigeria’s crude oil earnings had declined sharply over the past decade, dropping from about $92bn in 2012 to less than $2bn in 2023, representing a nearly 98 per cent decline in expected revenue during that period. According to him, the situation placed enormous fiscal pressure on the country and made economic reforms unavoidable. Abdullahi also said the CBN inherited distortions in the foreign exchange market, including multiple exchange rate windows that encouraged arbitrage. He added that the subsidy regime and exchange rate distortions together were estimated to have cost the Nigerian economy about six per cent of its Gross Domestic Product. The CBN official further disclosed that the apex bank inherited a backlog of about $7bn in foreign exchange obligations owed to businesses and investors. He said about $4.5bn of the backlog had already been cleared in a bid to restore confidence in the financial system. He emphasised that rebuilding confidence in the foreign exchange market and improving the performance of the oil sector were critical to stabilising the economy. Abdullahi also revealed that Nigeria’s foreign reserves were weaker than previously believed. Although official reserves stood at about $32bn, he said much of the funds were borrowed resources and swaps, leaving the country with net reserves of only about $800m before the reforms. Despite the difficult transition, he said the reforms were beginning to show early results. According to him, inflation has been declining for about 19 months, while food inflation is currently at its lowest level in about 13 years. He added that Nigeria is gradually moving towards single-digit inflation for the first time in more than a decade. Abdullahi also said net foreign reserves had improved significantly, rising from about $800m to roughly $32bn, which he said had strengthened investor confidence. He also highlighted the growth of non-oil exports, which reached about $6bn last year, with the government targeting $12bn in the near future. Also speaking at the dialogue, the Director-General of the Lagos Chamber of Commerce and Industry, Chinyere Almona, said the reforms had corrected several long-standing distortions but had placed significant pressure on businesses. Almona noted that removing the petrol subsidy alone could save the government about $7.5bn annually, funds she said should be invested in infrastructure and human capital development. “For the private sector, what we want to see is that the savings from the fuel subsidy removal are actually being used to fund infrastructure,” she said. She added that rising fuel prices had significantly increased electricity generation costs for businesses. According to her, while macroeconomic indicators such as foreign reserves and the balance of payments have improved, many Nigerians are yet to feel the benefits.

Popular Nigerian comedian and skit maker, Broda Shaggi, has reportedly been hospitalised after he was allegedly shot while filming a comedy skit in the Sango-Ota area of Ogun State. The entertainer, whose real name is Samuel Perry, was said to have been recording content with his crew on Sunday afternoon under the Sango-Ota bridge when the incident occurred. According to reports, the comedian sustained a gunshot injury during the shoot and was immediately rushed by members of his team to Blooming Care Hospital in the Alakuko area of Lagos for urgent medical attention. A police source, who spoke on condition…

Minister of the Federal Capital Territory FCT, Nyesom Wike, has declared that whoever that is calling for reconciliation in the Peoples Democratic Party, PDP, must do so with honesty and sincerity, adding that his camp remained firmly in control of the party’s machinery. Buoyed by Monday’s Court of Appeal ruling that nullified the November 15 and 16, 2025 National Convention held in Ibadan, Oyo State, and the Federal High Court, Ibadan judgement, which affirmed the current National Caretaker Working Committee leadership structure, Wike maintained that while his camp is open to reconciliation, it will only do so as a dominant…

The police in the Federal Capital Territory (FCT) have arraigned an Abuja-based fertility doctor, John Abebe, over allegations that he unlawfully sold a couple’s embryos and exposed their confidential medical records. Politics Nigeria gathered that Abebe, who is also said to be a pastor at Living Faith Church, was brought before Justice A. A. Fashola of the FCT High Court alongside his hospital, Joje Abebe Fertility Centre Limited. He is facing a three-count charge bordering on fra¥d, cr+minal conspiracy, and breach of medical confidentiality. According to the charge sheet, the doctor allegedly defrauded the couple of N19 million and released…

President Bola Ahmed Tinubu has reaffirmed his commitment to democratic principles, national unity, and the rule of law, declaring that he remains a “die-hard democrat” who will continue to defend Nigeria’s democratic system. The President made the remarks on Wednesday while addressing leaders of the All Progressives Congress (APC) and members of the Inter-Party Advisory Council at the State House. Tinubu noted that Nigeria’s democratic journey over the past 26 years has been sustained through the voluntary commitment and sacrifices of political actors across party lines. “I am glad we are all democrats and we all subscribe to this democracy voluntarily and willingly. We have been at it selflessly in the last 26 years,” the President said. Reiterating his personal conviction, Tinubu stressed that his belief in democracy remains firm. “I am a die-hard democrat and I follow that belief wholeheartedly, committed to a united country, Nigeria. That principle and philosophy will live and die with me,” he stated. The President also highlighted the importance of respecting the rule of law and democratic processes, noting that disagreements should be resolved through dialogue and intellectual debate rather than threats. “The rule of law must prevail before any democrat. The majority will have their say and their way, and the minority will have their say and might not have their way. That is the sweetness and essence of democracy,” Tinubu said. Tinubu further emphasised his loyalty to the political platform he belongs to while acknowledging the rights of others within Nigeria’s multi-party system. “I am a registered voter. Whether I am on the same platform with you or not, I am going to stick to my platform,” he said. Reflecting on his political history, the President recalled that he had previously remained in opposition without resorting to threats even when political circumstances were unfavourable. “When it was against me years past, I toed the line and stayed in opposition without threatening anyone but the military junta,” Tinubu added. He concluded by urging political leaders to remain committed to peace, stability, and democratic values for the progress of Nigeria.

Nigeria’s top legal regulatory body, the Body of Benchers, on Wednesday declined to accept a petition filed by a coalition of civil society organisations seeking an investigation into the Nigerian Law School certificate of Deputy Speaker of the House of Representatives, Benjamin Kalu. The petition was submitted at the Body of Benchers headquarters in Jabi, Abuja. However, officials of the body rejected the document on procedural grounds. The group behind the petition was told that the complaint did not meet the required filing process. Instead of receiving the petition formally, the regulatory body handed the coalition official forms. The group…

The senator representing Borno South, Ali Ndume, has said that the core oversight responsibility of the National Assembly of Nigeria has effectively collapsed. CityNews reports that Ndume made the remarks during an interview with Dan’Uwa Rano TV, where he criticised the current functioning of the legislature and expressed concern over what he described as the National Assembly’s failure to properly scrutinise government policies. The lawmaker, who has in recent times been vocal in criticising some policies of President Bola Ahmed Tinubu, expressed dissatisfaction with what he described as the routine approval of executive proposals by the legislature. Speaking during the interview, Ndume said the…

The United Nations’ Sustainable Development Goal (SDG) to end extreme poverty by 2030 is unlikely to be met—no thanks, in large part, to Nigeria. A new report by The World Poverty Clock shows Nigeria has overtaken India as the country with the most extreme poor people in the world. India has a population seven times larger than Nigeria’s. The struggle to lift more citizens out of extreme poverty is an indictment on successive Nigerian governments which have mismanaged the country’s vast oil riches through incompetence and corruption. The 86.9 million Nigerians now living in extreme poverty represents nearly 50% of its estimated…