Spotlights
Nigeria not ripe for total subsidy removal – Economist warns against monopoly

An economist and public affairs analyst, Dr Samson Simon has urged the Federal Government not to heed advice for the total removal of subsidy on petrol.
Simon, who is the Chief Economist, Economics & Data Limited was reacting to the interview granted Bloomberg Tv by the Chairman of Dangote Group, Aliko Dangote, wherein he urged the government to completely remove subsidy.
He, however, said it was not the right thing to do at the moment considering that the country does not have sufficient local refining capacity.
Speaking to DAILY POST in an exclusive interview, he observed that “theoretically, on paper, removal of subsidy is the best thing, it frees up resources to attend to more critical needs of the state, such as education, healthcare, infrastructure.
“But we have tried to remove subsidy and we have failed woefully, and while we have inflicted maximum pains on Nigerians by hiking the pump price of fuel, we are still even paying more for subsidy, that means there is a problem somewhere.
“I think what we are not getting right is that we need to ensure domestic refining, and then domestic supply of feedstock to these refineries, by the way it should not be limited to Dangote, because Dangote is a businessman, he is after profit and when he is a monopolist, he is even more dangerous.”
The economist also cautioned against allowing monopoly to thrive in the market, warning that Nigerians would suffer for it.
“There should be a competition. We have been a net exporter of cement for a while now and it has not really been a blessing in the sense that those people that are manufacturing cement charge more than the global average.
“So, domestic refining does not necessarily translate to lower prices; there is a need for us to ensure competition.
“Even for cement, I know that Dangote is not the sole-manufacturer of cement but he controls more than 60 percent of the market. One of things defining monopoly is not necessarily having a sole supplier, but a dominant supplier, it is still a monopoly and that is why we are all feeling the pains.
“In the same manner, I don’t think this is the right time. Yes, Dangote should be encouraged, but we may still suffer enough if we allow him to be the sole person now, all of us are going to feel the pain of it.”
He added that, “while we try to remove subsidy, we have to look for ways to bring down the pump price of fuel, they are not mutually exclusive, in the sense that we can still remove subsidy, it is just a means to an end, you are not requesting for subsidy for the sake of subsidy, but so that you have a lower pump price.
“So, if there is a strategy to bring down the pump price of fuel, while not paying for subsidy, I think that will be excellent, there is nothing that will be better than that
“And the strategy I have in mind is domestic feedstock and domestic refining, not only for Dangote but for the general oil industry in Nigeria. That will go a long way in helping fix the problem.”
Spotlights
2027: Governor Alex Otti Breaks Silence on Defecting to APC

Abia State Governor, Dr. Alex Otti, has denied reports circulating on social media that he has defected from the Labour Party (LP) to the All Progressives Congress (APC), as reported by Politics Nigeria.
The governor’s reaction followed claims by some online platforms suggesting that Otti had abandoned the Labour Party — the platform that brought him to power — to join the ruling party.
In a statement issued on Tuesday, the Abia State Commissioner for Information, Prince Okey Kanu, described the defection story as completely false and the work of political mischief-makers trying to distract the government.
Kanu said those behind the rumours are uncomfortable with the governor’s steady performance and growing popularity across the political landscape.
He said, “Governor Alex Otti remains a committed and proud member of the Labour Party, the platform under which the good people of Abia overwhelmingly elected him to serve.”
According to him, Otti’s focus has not changed: it remains on rebuilding Abia, promoting transparency, and ensuring that every part of the state feels the impact of good governance.
The commissioner further reminded the public that during the October edition of “Governor Alex Otti Speaks to Abians,” the governor had clearly stated that his interest was not in political defections or power play, but in genuine service and the transformation of Abia State.
However, the statement reaffirmed Otti’s loyalty to the Labour Party, describing his administration as one guided by the principles of accountability, fiscal discipline, infrastructure renewal, youth empowerment, and inclusive development.
Kanu urged Abians to ignore the rumour, insisting that it was another attempt to divert attention from the progress the state is witnessing under Otti’s leadership.
He added, “We wish to assure Abians that Governor Alex Otti remains resolute in his mission to continue to build a new Abia where truth, justice, and equity prevail under the banner of the Labour Party.”
Spotlights
Supreme Court Takes Fresh Decision On State Of Emergency In Rivers

The Supreme Court on Tuesday, reserved judgment in a suit challenging the declaration of a state of emergency in Rivers State by President Bola Tinubu, according to Naija News.
A seven-man panel of Supreme Court judges led by Justice Inyang Okoro, took the decision after parties in the suit made their final presentations.
The date of ruling on the matter will be communicated to the parties involved by the apex court.
Naija News understands that the plaintiffs in the matter are the Attorneys General of 10 states, while the defendants are the Federal Government and the National Assembly.
During Tuesday’s proceedings, the fifth plaintiff, Delta State, decided to withdraw from the lawsuit. This decision was not contested by the counsel representing the federal government, Lateef Fagbemi (SAN).
Fagbemi argued that the declaration by President Tinubu followed constitutional provisions and was done to curb the political crisis which had engulfed Rivers State.
He added that the state governor, Siminalayi Fubara; his deputy, Ngozi Odu; and members of the State House of Assembly were not removed but suspended, as part of extraordinary measures required to bring decorum in the state.
He, therefore, urged the apex court to dismiss the suit in its entirety.
In his submisison, the legal representative for the plaintiffs, Eyitayo Jegede (SAN) emphasized that their case does not dispute the President’s authority to declare a state of emergency.
He told the court that instead, the suit questions the scope of this declaration, particularly concerning its impact on the positions of the governor, deputy governor, and the State House of Assembly.
It would be recalled that President Tinubu had in March 2025, declared a state of emergency in Rivers State following the political crisis which enveloped the state as a result of the disagreement between Governor Fubara and his predecessor in office, Nyesom Wike.
The declaration expired in September, leading to the restoration of full democratic processes in the oil-rich state.
Spotlights
Fresh Prophecy Emerges For Tinubu Ahead 2027; Nnamdi Kanu’s Protest – This Is A Warning’
!['I'm optimistic' - Tinubu sends 2025 New Year message to enduring Nigerians [FULL TEXT]](https://thepapers.ng/wp-content/uploads/2024/09/Bola-Ahmed-Tinubu-e1653653706419.jpg)
A striking new prophecy has emerged, directly linked to credible reports of a conspiracy involving certain military personnel plotting to overthrow President Bola Tinubu’s administration.
Residents are aware of the gravity of the situation, and the atmosphere is charged with caution and resolve as discussions about the future of the government intensify.
Although the Defence Headquarters has dismissed the reports, saying there was no coup-related detention or plan within the military. But according to Prophet Julius Okonkwo, a well-known cleric and the presiding pastor of Kingdom Seeker Ministries based in the United States, he issued a scary message to President Bola Ahmed Tinubu in what he described as a fresh warning.
Prophet Okonkwo said: “What saved Tinubu over coup rumour was his past Goodwill. This man is a special human being. God put him there; nobody can unseat him. I want the opposition to know this and everyone behind this coup, if it is true, Tinubu is coming back by 2027, mark it down. A coup cannot work in this country. God is angry with those who are behind it.
The prophet also issued a message for retired generals in the country to desist from any evil behaviour over Tinubu’s government. He said: ‘God will put some people to shame, some retired Generals need to seek forgiveness as soon as possible. Nigeria is on the path of peace and sanity; whoever wants to put this country in flames will sleep and never wake up.”
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REVEALED: Former Governor Under Watch Over Alleged Coup Plot Against Tinubu As Investigations Deepen; Details Emerge
The Director, Defence Media Operations, Brigadier General Tukur Gusau, told Sunday PUNCH that the Armed Forces were unaware of any coup plot.
He also claimed that no new update had been issued since the earlier statement on the arrest of some officers.
The US-based cleric also issued a stern warning to the organisers of the Free Nnamdi Kanu protest, claiming that it is not the right approach to seek freedom for the IPOB leader.
“I am appealing to President Tinubu to consider the release of Nnamdi Kanu, for God’s sake. Those planning to stage a protest won’t succeed in their mission but rather cause a serious problem for the man in detention. This is a warning.”
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Full List of Military Coups in Nigeria and Names of Persons Who Were Behind Them
Spotlights
VIDEO: Popular Prophet Mentions 3 Tinubu’s Ministers Working With Coalition Ahead 2027 Polls

Primate Elijah Ayodele, the leader of the INRI Evangelical Spiritual Church, has issued a compelling prophetic warning regarding three current ministers in President Bola Tinubu’s administration.
He confidently asserts that these ministers are poised to collaborate with the ADC coalition, a move he believes will substantially undermine the president’s political future.
In a recent prophetic broadcast on Facebook, Primate Ayodele stated that this betrayal within Tinubu’s cabinet would take many by surprise.
2027 Election: Goodluck Jonathan Told What To Do Ahead Of Poll As Plots To Unseat Tinubu Deepens
According to him, the ministers are actively aligning themselves with an emerging opposition coalition, and their eventual actions will shake the foundation of the ruling All Progressives Congress (APC).
“Three of Tinubu’s ministers will be playing along with the coalition, and that will hit Tinubu,” Ayodele declared. He warned that the alignment was not mere speculation but a spiritual certainty, urging the presidency to tighten its internal political controls and assess the loyalty of those in top government positions.
Ayodele criticized the rising insecurity and political manipulation within the country, urging Nigerians to pray and political leaders to refocus on good governance, not selfish ambitions. He stressed that internal betrayal from trusted allies is often more dangerous than external attacks.
2027 Election: Goodluck Jonathan Told What To Do Ahead Of Poll As Plots To Unseat Tinubu Deepens
Spotlights
Alleged Money Laundering: How I Paid $3 Million Into Aisha Achimugu’s Company’s Account – Witness

Trinity Usman, an Economic and Financial Crimes Commission’s (EFCC) witness, on Friday, told the Federal High Court, Abuja Division, that he received and transferred three million dollars into Aisha Achimugu’s company account.
Mr Usman, the 2nd prosecution witness (PW-2), told Justice Emeka Nwite while being led in evidence by the EFCC’s lawyer, Ekele Iheanacho, SAN.
The PW-2, a Bureau De Change (BDC) operator, spoke in the ongoing trial of Halima Buba, managing director of SunTrust Bank, and her co-defendant, Innocent Mbagwu, the executive director/chief compliance officer of the bank.
The duo are being prosecuted on money laundering offences to the tune of $12 million.
In a six-count charge, they were alleged to have aided high-value cash transactions without routing them through a financial institution.
The offence is said to be contrary to Section 21(a), 2(1), and 9(1)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 19(2)(b) of the same Act.
The defendants were, on June 13, arraigned by the anti-graft agency.
They, however, pleaded not guilty to the counts, and admitted to a N100 million bail with one surety, each in like sum.
At the resumed trial, the witness said he was in court to tell what he knew about the transactions he did with Oceangate Engineering Oil & Gas Ltd, owned by Mrs Achimugu.
Mr Usman, who said he was a businessman and general contractor, said he was also into agro allied and oil business.
He said he carried out the businesses with companies or registered names.
He said his companies include Triple A and Tee Service Venture, T.M. Agro Allied Farm, Triple A and D Oil and Gas Ltd, Triple A and Tee BDC Ltd, among others.
“Sometimes in April 2025, one Suleiman Ciroma contacted me that he had a transaction that he needed 3 million US dollars to (be transferred to) Oceangate Engineering Oil & Gas Ltd.
“In that particular time, I have the money being in my Triple A and Tee Oil and Gas Nig Ltd account.
“After we agreed with him, Suleiman Ciroma gave me the dollar payment in cash.
“I paid him the dollars into Oceangate Engineering Oil and Gas Ltd account,” he said.
He said the payment was made in April 2025
“Can you remember the exact date you made the payment?” Iheanacho asked.
“I made the transfer in four tranches but I cannot remember the exact day,” the witness responded.
However, when the lawyer asked the witness if he knew Messrs Buba and Mbagwu, he said he did not know them.
“Take a look at the dock and tell the court if you know the defendants,” Mr Iheanacho asked and the witness simply said, “No.”
Mr Usman told the court that he did the transactions with Triple A and Tee Oil Nig Ltd.
“It was from there I transferred the dollars into Oceangate Engineering Oil and Gas Ltd,” he said.
But when Mr Iheanacho asked the PW-2 if his BDC company, Triple A and Tee BDC Ltd, featured in the transaction, counsel for the 1st defendant (Buba), Johnson Usman, SAN, raised an objection.
The senior lawyer argued that Iheanacho’s question was a ploy to give the witness tips on what to say and the judge directed him to rephrase the question.
The witness said that the licence of Triple A and Tee BDC Ltd, as at the time of the transactions, had been suspended.
He said the cash transactions from Mt Ciroma were made through his staff.
He mentioned the names of the staff as Abdulkadir Mohammed and Kabir Haruna.
The BDC operator also said that he equally did a naira to dollar transaction with Ciroma.
“The naira was transferred into a Triple A and Tee Service Venture Ltd Bank account.
“The naira also was converted into dollars and I sent the equivalent into an Oceangate account,” he said.
However, during cross-examination by Mr Buba’s counsel, Mr Usman SAN, the witness was asked to confirm to court that Triple A and Tee BDC Ltd had been in operations till date and he responded in affirmative.
“After they suspended our licence, we proposed Triple A and Tee BDC Ltd to CBN last year and we have an approval in principle with CBN,” the witness responded.
“Ciroma Suleiman contacted you in these transactions because he knows you as BDC operator?” the lawyer asked and the PW-2 responded in affirmative.
When Mr Usman asked the witness that it was on the basis of that knowledge that the PW-2 sent his staff to collect the dollars from Mr Ciroma, Mr Iheanacho too objected to the question.
The witness admitted that he did not tell the defendants before the transactions that his BDC license was suspended at any time.
He said his oil company account was used for the transactions because it was the account he had available dollars.
‘The choice of using your oil and gas company account to transfer the dollars to Oceangate was your own decision,” the lawyer asked and the witness responded in affirmative.
Counsel to the 2nd defendant (Mbagwu), M.S. Ibrahim, SAN, asked the witness if he made any profit from the transactions and he responded in affirmative.
“Did you tell the defendants whom you have never seeing or know before that you were going to make inflow payment from your oil and gas company’s account?” Ibrahim asked and the PW-2 said, “No.”
After the cross-examination, the witness was discharged and Ms Nwite adjourned the matter until Dec. 10 and Dec. 11 for continuation of trial.
Earlier on Thursday during the cross-examination of Suleiman Ciroma, the owner of Funnacle BDC Ltd and the PW-I by Mr Usman, SAN, the witness said the reason Mrs Achimugu requested for the transfer of the money was that if she had deposited the money in cash in the bank, she would not be able to transfer same.
Mr Ciroma said Trimizi Usman and Hassan Dantani, upon their representatives collecting the money, in turn, transferred the dollars equivalent “less their charges into a designated account provided by Aisha Achimugu.”
He agreed with Mr Usman’s question that in forex transaction, a transfer can only be made from an account where the money came by way of inflow and not by cash deposit.
When the lawyer asked Mr Ciroma that Mrs Achimugu needed the dollar transfer to purchase her two oil blocks, the PW-1 responded in affirmative.
The witness told the court that he is a member of BDC Traders Association Wuse Zone 4 in Abuja.
He said that was why when he made his statements to EFCC on April 14, April 11 and May 7, the executive members of the association were with him at the time.
Mr Ciroma, who agreed that he was duly cautioned before writing the extra-judicial statements, admitted that there was no part he informed the defendants, particularly Mr Buba, that his BDC licence had expired.
Also while being cross-examined by Mr Ibrahim, who appeared for the 2nd defendant, Mr Ciroma agreed that he had never seen Mr Mbagwu physically before.
He also admitted that he had never produced any text or Whatsapp message between him and Mbagwu before the court before.
gazettengr.com
Spotlights
Donald Trump: Why I Can’t Make It To Heaven

President Donald Trump is once again referencing his wish to be “heaven-bound”
Speaking to press aboard Air Force One on Sunday, Oct. 12, the president, 79, answered a question about his August statements regarding his attempts to broker a peace deal between Russia and Ukraine — during which he said, “If I can save 7,000 people a week from being killed, I think that’s pretty — I want to try to get to heaven if possible.”
“I’m being a little cute,” Trump told reporters on Sunday about his previous comments, before quipping, “I don’t think there’s anything going to get me in heaven.”
“I really don’t. I think I’m not maybe heaven-bound. I may be in heaven right now as we fly on Air Force One,” he continued. “I’m not sure I’m going to be able to make heaven, but I’ve made life a lot better for a lot of people.”
Trump went on to tell the press that “had the election of 2020 not been rigged,” he could have prevented Russian President Vladimir Putin from invading Ukraine.
“We had an incompetent administration. We had an incompetent president. And because of a crooked election, millions of people are dead,” Trump said, referring to former President Joe Biden. “And by the way, the Israeli thing was much harder to get settled because of the past administration.”
During a phone interview with Fox & Friends on Aug. 19, the president gave a new explanation for taking action to end the war in Ukraine — including positioning himself as a mediator between Putin and Ukrainian President Volodymyr Zelenskyy.
“If I can save 7,000 people a week from being killed, I think that’s pretty — I want to try to get to heaven if possible,” Trump said at the time.
“I’m hearing that I’m not doing well. I am really at the bottom of the totem pole,” he added, to laughter from the Fox News hosts. “But if I can get to heaven, this will be one of the reasons.”
Last month, Trump referenced his goal to “get into heaven” again when his campaign sent out emails asking for donations that read, “I want to try and get to Heaven.”
The recent emails — which reportedly began on Aug. 23 — requested supporters to donate $15 during a “24-HOUR TRUMP FUNDRAISING BLITZ” to the president, the Independent, Snopes and Newsweek reported. The new emails’ subject line includes, “I want to try and get to Heaven,” per the outlets.
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“Last year, I came millimeters from death when that bullet pierced through my skin. My triumphant return to the White House was never supposed to happen!” the email says in reference to the July 2024 assassination attempt against Trump in Butler, Pa.
“But I believe that God saved me for one reason: TO MAKE AMERICA GREAT AGAIN!,” the message says, according to the Independent. “I certainly wasn’t supposed to survive an assassin’s bullet, but by the grace of the almighty God, I did. SO NOW, I have no other choice but to answer the Call to Duty, but I can’t do it alone.”
During a briefing that same day, White House press secretary Karoline Leavitt clarified that she didn’t believe Trump was joking.
“I think the president was serious,” she said. “I think the president wants to get to heaven — as I hope we all do in this room as well.”
Stock photo of airplanes taking off and landing at Laguardia airport in New York
Trump and Putin failed to reach a peace deal or agree to a ceasefire during their recent summit in Alaska on Aug. 15, despite Trump having vaguely threatened “very severe consequences” if Russia didn’t comply.
Days after his meeting with Putin, Trump changed his tune, telling Zelenskyy and other European leaders that he didn’t think a ceasefire between Russia and Ukraine was necessary or even realistic while larger peace negotiations are underway.
The president admitted to the difficulty of negotiating with Putin during his remarks at the Kennedy Center on Aug. 13.
“I’ve had a lot of good conversations with [Putin]. Then I go home and I see that a rocket hit a nursing home or a rocket hit an apartment building and people are laying dead in the streets,” Trump said.
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