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.
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Tragedy in Nsukka as Six UNN Graduates Reportedly Found Dead After Final Exams
NSUKKA, ENUGU STATE — Tragedy has struck the University of Nigeria, Nsukka (UNN), following reports that six fresh graduates of the institution have been found dead inside an apartment in the Hilltop area of Nsukka, Enugu State.
The victims, reportedly comprising five females and one male, were said to have been discovered lifeless on Thursday morning, barely a day after completing their final examinations.
The incident has thrown the university community into mourning, with students and residents struggling to come to terms with the shocking development.
According to reports, the deceased had recently concluded their academic activities and were said to have participated in sign-out celebrations marking the completion of their studies.
The gathering, which was expected to be a moment of excitement and celebration after years of academic pursuit, reportedly ended in tragedy.
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The circumstances surrounding the deaths remain unclear, as there are conflicting reports about the number of victims and what transpired inside the apartment.
Meanwhile, the Acting Public Relations Officer of the university, Inya Agha Egwu, has acknowledged receiving enquiries about the incident and assured journalists that the university management would issue an official statement.
Efforts to obtain an immediate response from the Enugu State Police Command were reportedly unsuccessful as calls to the Police Public Relations Officer, Daniel Ndukwe, were unanswered.
As of the time of filing this report, the identities of the deceased and the actual cause of their deaths had yet to be officially established.
The tragic development has raised concerns across the university community, with students and residents awaiting further information from the police and university authorities.
Further details will be provided as official statements emerge.
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BREAKING: Manchester United Sack Michael Carrick After Disastrous Start to Season
MANCHESTER, England — Manchester United have sacked head coach Michael Carrick with immediate effect following the club’s disastrous start to the 2026/27 season.
The 45-year-old Englishman was reportedly informed of the decision on Thursday morning after the club’s hierarchy concluded that a managerial change was necessary to address the team’s poor performances.
Carrick’s dismissal follows a disappointing run of results that has left Manchester United languishing in 18th position on the Premier League table, with just one victory from their opening 10 league matches.
The decision was reached following discussions involving chief executive Omar Berrada, director of football Jason Wilcox and co-owner Sir Jim Ratcliffe.
Carrick had come under mounting pressure in recent weeks, particularly after Manchester United suffered a humiliating 3-0 defeat to Bournemouth.
Although he was initially given another opportunity to turn the situation around, Sunday’s dramatic 4-4 draw against Aston Villa reportedly proved decisive.
United fought back from a two-goal deficit to rescue a point through two late stoppage-time goals. However, the result extended the club’s disappointing run and left them trapped in the relegation zone.
Meanwhile, former Chelsea and Tottenham Hotspur manager Mauricio Pochettino is expected to take over as Manchester United’s next head coach.
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The Argentine, who currently manages the United States men’s national team, has reportedly reached a verbal agreement in principle with the Old Trafford club.
Manchester United are expected to activate a release clause believed to be worth approximately £7 million to secure his departure from the US national team, where his contract runs until 2030.
The overall compensation could rise if Pochettino brings members of his preferred coaching staff to Old Trafford.
Pochettino previously managed Southampton, Tottenham, Paris Saint-Germain and Chelsea, and is now being linked with a return to the Premier League.
Carrick’s dismissal represents a dramatic turnaround after his impressive performance during the second half of last season.
Appointed in January following the departure of Ruben Amorim, the former Manchester United midfielder guided the club to a third-place Premier League finish and secured qualification for the UEFA Champions League.
However, his success last season could not shield him from the consequences of United’s poor performances this campaign.
Pochettino’s potential first major assignment could be a high-profile Premier League encounter against Liverpool at Anfield on November 22, as Manchester United seek to revive their struggling season.
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Notorious Bandit Kingpin, Kachalla Bello, Killed in Rival Gang Clash in Katsina Forest
KATSINA STATE – A notorious bandit leader identified as Kachalla Bello has reportedly been killed during a fierce gun battle between rival armed groups in a forest in Faskari Local Government Area of Katsina State.
Bello was reportedly among those killed when rival bandit factions engaged in a deadly confrontation on Tuesday evening, November 10, 2026, amid an apparent struggle for territorial control.
According to local sources and counter-insurgency reports, the clash involved heavy exchanges of gunfire, leaving several fighters dead.
The late bandit leader was reportedly notorious for terrorising farming communities across parts of Katsina State through attacks, abductions and other criminal activities.
Beyond kidnapping for ransom, Bello was accused of subjecting some of his victims to forced labour on farmlands allegedly belonging to him.
Local accounts indicated that he frequently abducted farmers while they were working on their farms and compelled them to work on his farmland before considering their release.
His alleged activities reportedly contributed to insecurity, economic hardship and displacement among residents of affected communities, particularly farmers who depended on agriculture for their livelihoods.
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However, the Katsina State Police Command had yet to officially confirm Bello’s reported death as of the time of filing this report.
The Command’s spokesperson, Abubakar Sadiq-Aliyu, reportedly said he was making efforts to verify the incident and establish the exact location of the alleged confrontation.
He explained that security personnel were working to identify the location of the clash and liaise with the relevant Divisional Police Officers (DPOs) for further investigation.
Meanwhile, security observers have repeatedly identified rivalries and internal disputes among armed criminal groups as factors contributing to violent confrontations within bandit networks operating across Nigeria’s North-West region.
The circumstances surrounding Bello’s reported death, including the number of casualties recorded during the encounter, remain unclear.
Further details are expected as security agencies work to establish what happened.
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