The organised labour has threatened to stage a protest on Monday if Adelabu fails to heed their calls.
IMF urges Nigeria to remove electricity subsidy
The International Monetary Fund has warned the Nigerian government to remove what it called implicit fuel and electricity subsidies.
In a report published recently by the IMF, the organisation told Nigeria that the subsidies would guzzle three per cent of the nation’s Gross Domestic Product in 2024 as against one per cent in the year before.
According to the report, the IMF commended the Federal Government for, among other things, phasing out “costly and regressive energy subsidies”, saying this was critical to creating fiscal space for development spending and strengthening social protection while maintaining debt sustainability.
President Bola Tinubu’s administration removed fuel subsidies during his inauguration on May 29, 2023.
IMF noted, however, that “adequate compensatory measures for the poor were not scaled up promptly and subsequently paused over corruption concerns. Capping pump prices below cost reintroduced implicit subsidies by end-2023 to help Nigerians cope with high inflation and exchange rate depreciation.”
The body also acknowledged that the price of electricity had tripled for high-use premium consumers on Band A feeders, 15 per cent of the 12 million customers who account for 40 per cent of electricity usage.
As Nigerians agitate for the reversal of the Band A tariff from N206.80 per kilowatt-hour to N68, IMF submitted that “the tariff adjustment will help reduce expenditure on subsidies by 0.1 per cent of Gross Domestic Product, while continuing to provide relief to the poor, particularly in rural areas”.
The IMF advocated that “once the safety net has been scaled up and inflation subsides, the government should tackle implicit fuel and electricity subsidies”.
It warned, “With pump prices and tariffs below cost-recovery, implicit subsidy costs could increase to 3 per cent of GDP in 2024 from 1 per cent in 2023. These subsidies are costly and poorly targeted, with higher income groups benefiting more than the vulnerable”.
The IMF reechoed that “as inflation subsides and support for the vulnerable is ramped up, costly and untargeted fuel and electricity subsidies should be removed, while, e.g., retaining a lifeline tariff”.
It projected that the implicit fuel subsidy could gulp as high as N8.4tn in 2024 from N1.85tn in 2023, N4.4tn in 2022, N1.86tn in 2021 and N89bn in 2020.
The electricity subsidy being paid to customers under Band B, C, D, and E was projected to stand at N540bn by the end of 2024.
The PUNCH reports that the Nigerian National Petroleum Company and the Minister of State for Petroleum (Gas), Heineken Lokpobiri, have repeatedly debunked claims that the Federal Government was paying fuel subsidies through the back door.
Meanwhile, the IMF’s call for the removal of electricity subsidy is coming amid protests from Nigerians who are calling on the Minister of Power, Adebayo Adelabu, to return the Band A tariff to the status quo.
The organised labour has threatened to stage a protest on Monday if Adelabu fails to heed their calls.
MURIC Urges Security Agencies to Protect JAMB Candidates, Exam Centres Nationwide
The Muslim Rights Concern (MURIC) has called on security agencies in Nigeria to ensure maximum protection for candidates and officials participating in the forthcoming Joint Admissions and Matriculation Board (JAMB) examinations scheduled to begin on April 16, 2026.
In a press statement issued on Tuesday, April 14, 2026, the Islamic human rights organisation stressed the need for heightened security measures across all examination centres nationwide, citing growing insecurity in several parts of the country.
The statement, signed by the Executive Director of MURIC, Professor Ishaq Akintola, urged the Nigeria Police Force, the Nigerian Army, and the Nigeria Security and Civil Defence Corps (NSCDC) to collaborate effectively in safeguarding candidates and examination personnel throughout the examination period.
According to the group, the appeal became necessary due to rising security concerns in parts of northern Nigeria, where banditry, communal tensions, and violent attacks have continued to threaten public safety.
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MURIC specifically raised concerns about states such as Plateau, Borno, Katsina, Sokoto, and Kwara, warning that some of these areas remain vulnerable to attacks and mass abductions, particularly targeting young students and examination candidates.
The organisation warned that candidates travelling to and from examination centres could be at risk in volatile locations and called for “special attention” to ensure their safety before, during, and after the examinations.
It further urged security agencies to remain vigilant, noting that “eternal vigilance is the price of freedom,” and emphasised the need for proactive intelligence gathering and rapid response mechanisms to prevent any disruption of the exercise.
MURIC also highlighted the importance of securing examination venues themselves, stressing that any attack on candidates or officials would have far-reaching consequences on education and national development.
The group reiterated its commitment to advocating for peaceful coexistence and safety for all citizens, especially young Nigerians pursuing education.
The JAMB examination, conducted annually by the Joint Admissions and Matriculation Board, is a critical gateway for admission into tertiary institutions across the country, with hundreds of thousands of candidates expected to participate nationwide.
Security agencies are yet to issue a formal response to the appeal, but authorities have previously assured Nigerians of adequate protection during national examinations and other major public exercises.
MURIC Urges Security Agencies to Protect JAMB Candidates, Exam Centres Nationwide
Lafarge Convicted of Terrorism Financing by French Court in Landmark Case
A French court in Paris has found cement manufacturer Lafarge guilty of financing armed extremist groups during the Syrian civil war, in a landmark ruling that could reshape global standards on corporate responsibility in conflict zones.
The court ruled that the company’s Syrian subsidiary made payments to armed groups, including ISIS and the Nusra Front, between 2013 and 2014, in a bid to keep its cement plant in northern Syria operational during intense fighting.
The judgment also convicted eight former Lafarge employees, including senior executives, for authorising and facilitating the transactions, marking one of the most significant cases of terrorism financing in corporate operations ever handled in France.
According to the court, the payments amounted to approximately $6.5 million, allegedly used to secure safe passage for staff, maintain supply routes, and purchase materials from areas controlled by armed factions.
Presiding judge Isabelle Prévost-Desprez said the arrangement effectively created a “commercial relationship with armed groups,” stressing that economic survival was prioritised over legal and ethical obligations in a war environment.
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The case focused on Lafarge’s Jalabiya cement plant in northern Syria, acquired in 2008 and operating shortly before the outbreak of the Syrian civil war. Investigators told the court that funds were also used to ensure the movement of employees through territories controlled by militant groups.
The ruling has been described by legal experts as a historic precedent in corporate terrorism financing law, as it is among the first instances in France where a multinational company has been convicted for directly funding armed extremist organisations.
The court also examined Lafarge’s operational structure following its 2015 merger into Holcim, which has not yet issued a detailed response to the ruling.
Prosecutors had earlier sought financial penalties and asset confiscation, but the court has yet to announce the final sentence and full penalties in the case.
The verdict follows related proceedings in the United States, where Lafarge previously admitted that its Syrian subsidiary made improper payments to armed groups and agreed to a large financial settlement in a separate investigation.
Analysts say the ruling could have far-reaching consequences for multinational companies operating in high-risk conflict zones, forcing stronger compliance systems, stricter oversight, and tighter controls to prevent indirect funding of armed groups.
The case is widely seen as a turning point in global corporate accountability, highlighting the legal risks companies face when continuing operations in war-torn regions where militant groups exert territorial control.
Tinubu Declares End to “Broken Revenue System”, Unveils New Economic Reforms
President Bola Ahmed Tinubu has declared that Nigeria has entered a new phase of economic transformation, insisting that the country will no longer operate a “broken, inefficient and unfair revenue system” as his administration intensifies fiscal and tax reforms.
Tinubu made the remarks in Abuja during the commissioning of the Nigerian Revenue Service (NRS) headquarters, where he reaffirmed that ongoing reforms are aimed at strengthening Nigeria’s tax system, improving revenue generation, and restoring public confidence in governance.
He described the reforms as a “covenant with Nigerians,” stressing that they are not political rhetoric but a deliberate effort to rebuild the country’s economic foundations and ensure long-term stability.
According to him, Nigeria is gradually transitioning “from uncertainty to renewed hope” through structural reforms designed to improve efficiency, fairness, and transparency in revenue administration.
The President emphasized that no country can achieve sustainable development with a weak fiscal structure, adding that his administration deliberately embarked on overhauling the system to eliminate leakages, improve compliance, and ensure that national revenue is effectively deployed for development.
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“No nation achieves lasting prosperity on a weak and fragmented revenue system,” Tinubu said, adding that government must earn public trust through a fair and transparent tax structure.
He noted that the reforms are focused on simplifying tax processes, reducing distortions, and creating a more investment-friendly environment that encourages both local and foreign investors.
Tinubu also highlighted early signs of progress, pointing to improvements in fiscal stability, stronger reserves, and increased investor confidence as indicators that the reforms are beginning to yield results.
He attributed these gains to what he called “deliberate policy choices and national discipline,” insisting that the government remains committed to long-term structural changes rather than short-term economic fixes.
The President described the newly commissioned NRS headquarters as a symbol of institutional renewal and administrative efficiency, noting that it represents more than just a physical structure.
“This building is more than concrete and steel. It is a symbol of professionalism, transparency, efficiency and service delivery,” he said.
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Tinubu also tasked the Nigerian Revenue Service with evolving beyond revenue collection into a trust-building institution that reflects accountability and fairness in its operations. He stressed that taxpayers must see clear value for their contributions through improved public services and national development.
“The Nigerian Revenue Service must not only collect revenue, it must build trust,” he said, adding that institutions must demonstrate integrity and responsiveness to citizens.
He further acknowledged the challenges associated with economic reforms, noting that while such policies may cause short-term hardship, they are necessary for long-term prosperity and national stability.
Tinubu urged Nigerians to remain patient and supportive of ongoing reforms, saying sustainable development requires shared sacrifice and collective commitment.
The President also reiterated that Nigeria’s future depends on deliberate policy choices and strong institutions capable of driving inclusive growth and global competitiveness.
“We have chosen reform, we have chosen discipline, we have chosen progress,” he said. “We will stay the course until the promise of Nigeria is matched by the performance of its institutions.”
The commissioning of the NRS headquarters marks a key milestone in the federal government’s broader economic reforms in Nigeria, particularly in tax administration and public finance management, as authorities push to diversify revenue sources beyond oil dependence.
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