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    2027 Elections: INEC deploys AI safeguards, explains omission of governorship candidates

    INEC concludes nationwide readiness tour, seeks traditional ruler’s support for peaceful elections

    Taxing, Borrowing the Future Without Building: What has Nigeria’s fiscal authority done for the real sector?

    Tinubu congratulates Flamingos on historic FIFA U-17 Women’s World Cup victory

    Tinubu approves Ibom Deep Sea Port at APC presidential rally

    Tinubu approves Ibom Deep Sea Port at APC presidential rally

    Nigeria begins indigenous production of attack drones in partnership with local tech firm

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    Nigeria: Speaker Abbas inaugurates House committee to strengthen border security

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    President Tinubu departs Abuja tomorrow for Akwa Ibom, Rivers

    Nigeria: FCCPC investigates possible exploitation in airfare price

    FCCPC enforces full fortification of vegetable oil, salt

    Nigeria: National Assembly plans boost funding for primary healthcare

    You Survived Suicide? Then, go to jail! 

    Nigeria: ANA rolls out tough measures against financial mismanagement, breach of intellectual property

  • Entertainment

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    NFC congratulates Funke Akindele as film ‘Behind The Scenes’ grosses over N2b at the box office

    Funke Akindele set to release latest film ‘Where Is Mr. Right?’ Aug. 15

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    British singer Luca Zuccotti visits Afrika Shrine, celebrates Fela’s Afrobeats legacy

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    Burna Boy edges Tems as African artiste on billboard Hot 100 entries

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    Burna Boy, Shakira set to release FIFA World Cup song “Dai Dai”

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    Nigeria: FG moves to establish Armed Forces Medical College

    Nigeria: FG warns public against unauthorized NTI admissions, cancels 2026 NCE, degree intake

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    Nigeria: FG urges Senate to halt establishment of new federal universities, polytechnics for 7 years

    Nigeria: Minister applauds Tinubu, First Lady on National Library project, warns contractors against delay

    Nigeria: UBEC finalises policy framework to unlock education investments

    UBEC partners Sultan’s Foundation in war against out-of-school children menace

    Nigeria: FG moves to establish Armed Forces Medical College

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    Nigeria: Education Minister, NIS Director-General Shaibu meet for collaboration on sports education

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    Election Campaign: Onanuga urges caution in use of AI

    Top oil and gas experts to speak at Realnews 14th Anniversary Lecture Series

    Top oil and gas experts to speak at Realnews 14th Anniversary Lecture Series

    MultiChoice owner cuts DStv subscription prices in Nigeria, Kenya, Ghana

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    DAAR Communications announces closed period ahead of Q3 2026 financial results

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    NNPCL, NLNG, Customs, Dangote, others partner with GOCOP for 2026 conference

    Nigeria: FG empowers 70 digital media managers for grassroots outreach

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    Nigeria begins indigenous production of attack drones in partnership with local tech firm

    Nigeria boosts intra-African trade with air cargo arrangement with Rwanda

    Namibia President calls Dangote’s $2.5b energy investment a landmark for Africa’s industrial future

    Nigeria: Minister says evidence based resource allocation, others critical to achieving $1trn economy by 2030

    NNPCL adds 600,000bpd to Nigeria’s oil output, targets 2mbpd by 2027 – Ojulari

    Dangote eyes Egypt for next phase of African industrial expansion

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    • Politics
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Nigeria to save N5.4trn from subsidy removal in 2024 – Abiodun

by Press Release
September 30, 2024
in Economy, Energy, Finance, NIGERIA
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…urges constructive engagement with govt

The Ogun State Governor, Prince Dapo Abiodun has disclosed that the subsidy on fuel, if not curbed by President Bola Ahmed Tinubu, would have cost the country a whopping N5.4 trillion by the end of 2024.

Governor Abiodun noted that it would have been disastrous for Nigeria to pay such huge amount on subsidy on fuel against the Federal Government’s budget of N6.7 trillion for the same fiscal year.

The Governor stated this during the Special Church Service commemorating the 64th National Day celebration held at the Cathedral Church of St. Peter, Ake, Abeokuta.

He said the money is now available for the development of infrastructures across the country

“The Federal Government, under the amiable leadership of our President, Bola Ahmed Tinubu, wasted no time in embarking on some very bold and audacious initiatives aimed at repositioning our economy and saving us from bankruptcy. We must persevere.

“Mr. President removed the subsidy, which, if not curbed, would have cost us N5.4 trillion by the end of 2024.

“We have been busy subsidizing our neighbours; these are funds that can be invested in improving our infrastructure and other social services.

“Our budget this year for infrastructure was N6.7 trillion, meanwhile, the subsidy would have consumed N5.4 trillion, if not curbed or checked,” Abiodun explained.

Prince Abiodun, while calling on Nigerians to engage the government constructively and not join those fanning the flames of discord, said that protests would not achieve anything other than looting and vandalism of public properties.

“Let us be resilient, let us continue to pray, let us persevere, and let us hold on to our faith in Almighty God.

“Let us not join those who continue to fan the flames of discord in our land, and those who are calling for protests, violence, and civil disobedience, which only leads to vandalism, looting, and destruction of public property.

“Let us engage constructively and work with the government, knowing that this administration is an inclusive one,” he added.

The Governor also disclosed that his administration would continue to implement measures to cushion the effects of the present realities, adding that his administration has deployed CNG buses, started energy transition programs with the launching of e-bikes, reduced workdays for civil servants from five to three days, and provided free medical services for the poor and the elderly, among other initiatives.

He noted that his administration would soon be completing its farmers’ markets across the four zones of the state, adding that the state government’s Gateway Trading Company, where food items would be sold at wholesale prices, would soon begin operation.

“We will soon complete our farmers’ markets across the four zones of the state, where food items will be sold at affordable prices.

“Very soon, you will see our Gateway Trading Company that will start selling different items in different zones across the four zones of the state at wholesale prices. We will continue these types of initiatives to cushion the effects of the current realities,” he said.

Earlier in his message titled “Leading Our Nation Forward in a Time Like This: Lessons from Elisha’s Leadership,” the Diocesan Bishop of Ijebu North Anglican Diocese, The Rt. Rev’d Dr. Akinwande Godwin Odubena, who also read from the book of 2 Kings, Chapter 7, Verse 1, noted that leadership plays a crucial role in the future of any country.

Rt. Rev’d Odubena, who noted that Nigeria is currently dealing with hyper-inflation, problems of oil theft, vandalism, an increase in unemployment that has given birth to internet fraud, insecurity, infrastructure challenges, kidnapping, and banditry, added that the citizens must be hopeful for a better Ogun State and Nigeria as a whole.

The Diocesan Bishop, while noting that it was important for the people and the leaders of Nigeria to trust in the plan of God, said that unity and prosperity must be prioritized.

While urging the leaders of the country to look into the current issues of hardship and hunger, Odubena said the country and its leaders must face their challenges head-on, persevere, and not allow anything to deter them from moving forward.

The Rt. Rev’d Odubena urged leaders in the country, state, local government areas, and homes to recommit themselves to God, appealing to the congregation and the people of the country to speak hope and not curse the nation and her leaders.

Odubena also charged everyone to embrace dialogue to address issues with the government and not to give room for protests and violence, stating that there was a need to exercise caution and move away from vandalizing public infrastructure in the name of protest.

The preacher called on parents and guardians to call their children and wards to order.

The only Bible reading of the service was read from the book of 2 Corinthians, Chapter 11, Verses 16-31 by Governor Dapo Abiodun.

Tags: Ogun StatePrince Dapo Abiodun
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