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First UNICAL female VC, Obi, assumes office
Prof. Florence Banku Obi on Tuesday assumed office as the 11th vice chancellor of the University of Calabar. She is the first female vice chancellor of the 45 years old university.
Besides the Pro-Chancellor of the University, Senator Nkachi Nwoagu, other dignitaries at the event are the Minister of State for Power, Prince Goody Agba, the Deputy Governor of Cross River State, Prof. Ivara Esu, the former governor of the state, Donald Duke, and his wife, Onari; the Speaker of Cross River State House of Assembly, Hon. Eteng Jonas William; and Senator Florence Ita-Giwa.
The new VC said, “I accept and consider this call as an opportunity to plough in with greater intensity and dynamism, and to mobilize and channel our creative energies in ideas, vision and action to put our institution on a higher pedestal of reckoning.”
She also said, “My inauguration as the 11th vice-chancellor of the University of Calabar bestows on me the obligation to provide academic, administrative and financial leadership in this citadel of learning for the next five years.
“It is particularly a great responsibility for me, for the special reason that this is the first time a woman is taking over the mantle of leadership in a university ruled by male Vice-Chancellor for the past 45 years.”
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FG Draws Red Line on Fuel Subsidy, Warns of Naira Crisis if Reforms Are Reversed
FG Draws Red Line on Fuel Subsidy, Warns of Naira Crisis if Reforms Are Reversed
The Federal Government has ruled out a return to petrol subsidy and multiple foreign exchange rates, warning that reversing the economic reforms introduced under President Bola Ahmed Tinubu could worsen Nigeria’s fiscal position, weaken the naira and increase the cost of living.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, reiterated the government’s position on Saturday, October 17, 2026, amid renewed debate over fuel prices and economic policy ahead of the 2027 general elections.
Speaking on the sidelines of the World Bank and International Monetary Fund meetings in Bangkok, Thailand, Oyedele said the administration would not reverse its decisions to remove petrol subsidies and liberalise the foreign exchange market.
He maintained that the government’s priority was to preserve the reforms while pursuing measures to ease the pressure of high fuel prices on households and businesses.
The minister’s latest comments followed his October 8 briefing in Abuja, where he warned that restoring petrol subsidy could cost Nigeria more than ₦20 trillion annually if petrol prices were returned to their pre-reform levels.
According to Oyedele, even a proposal to sell petrol at ₦500 per litre could require more than ₦16 trillion annually, depending on consumption and other factors.
He argued that financing such expenditure would put significant pressure on public finances and potentially divert resources from essential responsibilities, including salaries, pensions, education, healthcare, infrastructure and security.
Oyedele also warned that reversing the reforms could undermine investor confidence, increase borrowing costs and put further pressure on the naira. He said the exchange rate could approach ₦3,000 to the dollar within months under the scenario he outlined, while subsidised petrol could still cost at least ₦2,000 per litre.
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These figures were presented as warnings about the possible consequences of restoring subsidy, rather than confirmed predictions of future exchange rates or petrol prices.
The minister argued that a subsidy does not eliminate the actual cost of petrol but transfers part of the bill from consumers to the government. Since crude oil, shipping and many refining inputs are priced in dollars, he said, keeping domestic petrol prices artificially low could expose public finances to additional foreign exchange costs.
He also warned that subsidised petrol could encourage cross-border smuggling if prices in Nigeria fell significantly below those in neighbouring countries, potentially leaving Nigerian taxpayers to finance fuel consumed elsewhere.
Oyedele further rejected calls to restore multiple foreign exchange rates, arguing that doing so would recreate distortions the government sought to eliminate through market liberalisation.
Under the previous system, different exchange rates operated across official and other market segments. The government argued that the arrangement encouraged arbitrage, reduced transparency and weakened confidence in the foreign exchange market.
The administration has maintained that a more unified, market-driven system would improve transparency and allow the naira’s value to respond more closely to market conditions, although exchange-rate volatility and the cost of living remain major concerns for Nigerians.
Despite ruling out a return to broad-based fuel subsidy, the government has announced temporary measures intended to moderate petrol prices.
One of the measures is a 30-day petrol discount at Nigerian National Petroleum Company Limited (NNPC) Retail stations, introduced in October. Under the arrangement, NNPC Retail agreed to forgo its retail profit margin and sell petrol at cost for the period, with priority intended for public transport operators.
Oyedele has insisted that the arrangement is not a return to fuel subsidy because the discount is borne by the company through reduced margins rather than payments from public funds. The distinction has nevertheless attracted debate, with critics questioning whether the intervention amounts to a form of subsidy in practice.
The government has also proposed a ₦1,350-per-litre ceiling on the ex-gantry or landing cost of petrol to moderate sudden price movements caused by changes in global crude oil prices and exchange rates.
The proposed ceiling is not a fixed pump price of ₦1,350 per litre. Under the mechanism outlined by the minister, refiners and importers would initially absorb costs above the ceiling and seek to recover the shortfall when market conditions improve. The arrangement is intended to smooth price fluctuations rather than permanently fix petrol prices.
Other measures highlighted by the government include support for local refining, the expansion of compressed natural gas (CNG) as an alternative transport fuel, tax and duty waivers on petroleum products, and targeted assistance for vulnerable households and businesses.
The government says such interventions can provide temporary relief without recreating the large and recurring liabilities associated with the former subsidy regime.
The fuel subsidy debate has intensified as Nigerians continue to face the effects of higher petrol prices on transport fares, food distribution, electricity generation and business operating costs.
The removal of petrol subsidy in May 2023 was one of Tinubu’s major economic policy decisions. The government has defended the reform as necessary to reduce fiscal pressure and redirect resources towards other priorities, while critics argue that the resulting rise in living costs has placed a heavy burden on households and businesses.
Calls for a return to subsidy have featured prominently in political discussions ahead of the 2027 elections, with proponents arguing that government intervention is needed to provide relief to consumers.
Oyedele said the government remained open to alternative proposals but insisted that anyone advocating a return to subsidy should explain its total cost, how it would be financed sustainably and the price consumers would ultimately pay at filling stations.
The administration’s challenge remains balancing its commitment to market-oriented reforms with demands for more immediate and meaningful relief for Nigerians struggling with the high cost of living.
FG Draws Red Line on Fuel Subsidy, Warns of Naira Crisis if Reforms Are Reversed
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Tinubu Reappoints INEC Commissioner, Nominates Six Others Ahead of 2027 Elections
President Bola Ahmed Tinubu has reappointed Dr Bala Bila as a National Commissioner of the Independent National Electoral Commission (INEC) and nominated six other officials to fill vacancies in the electoral body ahead of the 2027 general elections.
The nominations cover four National Commissioner positions and two Resident Electoral Commissioner (REC) positions. All six nominees are expected to undergo screening and confirmation by the Senate before assuming their respective offices.
The Presidency announced the appointments in a statement issued on Friday, October 16, 2026, by Bayo Onanuga, Special Adviser to the President on Information and Strategy.
According to the statement, the nominations became necessary following the expiration of the tenures of serving officials, leaving vacancies within the electoral commission.
Among the nominees is Professor Mustapha Aliu, who has been nominated to replace Professor Abdullahi Zuru as the National Commissioner representing the North-West.
Bashir Muhammed Umar was nominated to replace Professor Muhammad Adamu as the National Commissioner representing the North-Central zone.
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Tinubu also nominated Mrs Oluwatoyin Babalola, the current Resident Electoral Commissioner in Osun State, as the National Commissioner representing the South-West. She is expected to succeed Professor Cornelius Ajayi, whose tenure expires on October 24, 2026.
For the Resident Electoral Commissioner positions, the President nominated Dr Samuel Akinjide Akinleye, a retired permanent secretary, to represent Ekiti State.
Zahradden Basiru Sanusi, from Jigawa State, was nominated to replace Professor Saidu Ahmed Babura as a Resident Electoral Commissioner.
Meanwhile, Tinubu reappointed Bala Bila to continue serving as the National Commissioner representing the North-East.
The President urged the Senate to expedite the screening and confirmation process to enable INEC to fill the vacancies ahead of the forthcoming general elections, which the Presidency says are scheduled for January 2027.
The appointments come as INEC prepares for the next general elections, with the commission responsible for managing electoral activities, including voter registration, political party compliance, candidate nominations and the conduct of national elections.
The Senate’s consideration of the nominees will determine when the newly nominated officials can formally assume their respective positions.
With the 2027 elections approaching, the appointments are part of efforts to fill vacant positions within the electoral body and ensure that its leadership structure is in place ahead of the polls.
The nominations do not take effect as confirmed appointments until the required Senate screening and confirmation process has been completed.
Tinubu Reappoints INEC Commissioner, Nominates Six Others Ahead of 2027 Elections
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State Police Bill to Reach National Assembly in Two Weeks – Presidency
The Federal Government has said the proposed National Policing Bill, which will provide the operational framework for establishing state police in Nigeria, is about 90 per cent ready and is expected to be transmitted to the National Assembly within two weeks.
Chief of Staff to President Bola Ahmed Tinubu, Femi Gbajabiamila, disclosed this on Thursday, October 15, 2026, after a meeting of the Presidential Working Group on the National Policing Bill at the State House in Abuja.
Gbajabiamila, who chairs the working group, said the committee was close to completing its assignment but needed to address a few outstanding issues, including observations submitted by state governors, before forwarding the proposed legislation to lawmakers.
“The National Policing Bill is more or less ready for transmission to the National Assembly. We will probably have one more meeting after this to cross the t’s and dot the i’s and make sure every area is covered. So, we are 90% ready,” he said.
He added that the committee expected to conclude the remaining work within approximately a week, although the Presidency said the bill would be transmitted within two weeks.
“The governors have one or two observations, and we should be ready in about a week or so,” Gbajabiamila stated.
The Chief of Staff described the proposed legislation as “the most consequential Bill of the administration so far”, noting that the working group had undertaken extensive deliberations since its steering committee began meeting on August 3.
The meeting brought together key government officials and security stakeholders, including Nigeria Governors’ Forum Chairman and Kwara State Governor AbdulRahman AbdulRazaq, Ogun State Governor Dapo Abiodun, Kaduna State Governor Uba Sani and Inspector-General of Police Tunji Disu.
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Representatives of the Federal Ministry of Justice, the Nigerian Bar Association and the Office of the National Security Adviser also participated in the deliberations.
The proposed law is intended to establish the legal and operational framework needed to implement state police, allowing state governments to establish their own police services alongside the existing federal police structure.
The move is part of the Tinubu administration’s efforts to reform Nigeria’s security architecture amid persistent challenges, including kidnapping, banditry, terrorism, communal violence and other violent crimes.
Supporters of decentralised policing argue that state police could improve local intelligence gathering, shorten emergency response times and enable officers to respond more effectively to security threats within their communities.
However, the proposal has also raised concerns about possible political interference, funding disparities between states, human rights safeguards and the risk that governors could misuse state police against political opponents.
The National Policing Bill is distinct from the constitutional amendment required to permit states to establish their own police forces. The proposed legislation is intended to provide the practical rules, standards and safeguards for operating the system, while the constitutional amendment must complete the required approval process.
Both chambers of the National Assembly have approved the constitutional amendment proposal, but it still requires ratification by at least 24 of Nigeria’s 36 State Houses of Assembly before the constitutional change can take effect.
Gbajabiamila acknowledged concerns about the pace of ratification by state legislatures, with reports indicating that only a limited number of states had approved the amendment at the time of the meeting.
He nevertheless expressed confidence that the process would continue, insisting that there was broad national support for the reform.
“I see no reason why anyone will want to have a rethink on it,” he said.
The committee is expected to use its remaining deliberations to address the governors’ observations and ensure that the proposed legislation provides a workable structure for cooperation between federal and state police services.
The framework is also expected to clarify operational standards, accountability requirements and the relationship between the different levels of policing once the constitutional process is completed.
The planned transmission of the bill marks another step in a reform effort that has featured prominently in Nigeria’s security debate. However, the announcement does not mean that state police can begin operating immediately. The necessary constitutional approvals and legislative processes must still be completed before the proposed system can be implemented.
If the timeline announced by the Presidency is met, lawmakers could begin considering the National Policing Bill in the coming weeks, bringing Nigeria closer to a decentralised policing structure intended to address the country’s diverse security challenges.
State Police Bill to Reach National Assembly in Two Weeks – Presidency
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