Business
Why we back FG on petrol subsidy removal by 2022 – IPMAN, others
• NANS rejects proposed fuel price hike, threatens shutdown
The Independent Petroleum Marketers Association of Nigeria (IPMAN), said yesterday, that its support for the Federal Government over the planned removal of subsidy on Premium Motor Spirit (PMS), stems from the realization that the Petroleum Industry Act (PIA) signed into law by President Muhammadu Buhari on August 16 makes no provision for subsidy.
Besides, IPMAN President, Chinedu Okoronkwo, told the News Agency of Nigeria (NAN) yesterday that his association has consistently “advised the government to remove petrol subsidy because it is not in the interest of development of the downstream sector.”
But the National Association of Nigerian Students (NANS) threatened, yesterday, to shut down the country should the Federal Government go ahead with the planned fuel subsidy removal.
The students’ body also rejected the government’s plan to pay N5,000 transport allowance to 40 million Nigerians to cushion the effect of soaring fuel prices.
Okoronkwo, in the NAN interview, said: “We welcome the decision of the government to stop subsidising petrol by 2022 and we are hoping it will attract more investments to the sector, especially with the passage of PIA.”
He added: “What we want is that a level playing field be provided for everyone in the sector to encourage competition once the subsidy is removed.”
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Also speaking on the issue, the immediate-past President, Major Oil Marketers Association of Nigeria (MOMAN), Tunji Oyebanji, said continued subsidising of petrol was not sustainable in light of current economic realities.
He said the 2022 deadline was realistic and its impact might be mitigated with the coming on stream of the 650,000BPD Dangote Refinery, Bua Group Refinery, Waltersmith Refinery and other modular refineries.
Oyebanji, who is the Managing Director of 11 Plc, however, faulted the plan to replace the subsidy with cash transfer to Nigerians due to lack of a reliable data base in the country.
“In my personal opinion, I am of the view that such funds should be channeled to areas like education and mass transportation that would be accessible to ordinary Nigerians,” Mr Oyebanji said.
An oil and gas expert, Wilson Opuwei, said the conversation about fuel subsidy in Nigeria “should have been a thing of the past because it was an obvious wastage of the nation’s resources”.
Mr Opuwei, who is the Chief Executive Officer of Dateline Energy Services Ltd., maintained that the elite were the major beneficiaries of the fuel subsidy regime.
He said: “We should let market forces determine the price of petrol and other products, not the government dolling out subsidies with funds that we don’t even have.”
NANS rejects proposed fuel price hike, threatens shutdown
Declaring its position on the issue yesterday, the National Association of Nigerian Students (NANS) threatened to shut down the country should the Federal Government go ahead with the planned fuel subsidy removal.
Addressing journalists in Abuja, NANS President, Comrade Sunday Asefon, said the union would mobilise its 41 million members across the country to protest what he branded a “strange proposal.”
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The present economic realities in the country, Asefon said, made it wrong for the government to contemplate something as critical as deregulating the petroleum sector “without thinking it through, without consultation and without a robust debate.”
He described the move as a plan by the government to get money at all costs to squander and finance the ostentatious lifestyles of public officers and senior civil servants, adding that any attempt to aggravate the economic woes of Nigerians would not only be unconscionable but reckless.
“Nigerians are really suffering. We are in dire socioeconomic straits. We are weeping in our hearts and souls. We are dying in silence. We feel the agony and anguish because we are practically involved,” he said.
Continuing, he said:It will amount to testing the patience of Nigerians. And we wish to warn against it. The country is very stretched and tensed. In case the government is not aware, we are passing them this intelligence free of charge now. Again we advise: let the government not stretch it further.
“The consequences will be dire. The people are already flamed. Mendacity will beget mendacity
NANS is happy that the organised labour and civil society groups have all rejected the proposal.
”We shall ensure that the entire country is shut down and paralysed should the Federal Government proceed with its insensitive plan of deregulation, or even any further increase in the pump price of fuel. We have had enough.
”We know that neo-liberal and imperial economists will soon emerge to confuse themselves with some well- rehearsed stale analyses and commentaries.”
“It is therefore very strange that the Federal Government could contemplate the removal of fuel subsidy now. The four refineries are not functioning, and if they are functioning at all, it is at a near zero level. There is a zero consultation with stakeholders to even consider issues around deregulation and why it should or should not be. The survival of Nigerian workers and their wards is yet to be discussed, yet a date that may take lives out of them has been fixed.
”Furthermore, inflation is already passing a skyrocketing level. So we may need to find a word to describe the kind of inflation that will be experienced if the pump price of PMS goes above 200 percent. In fact, we are very convinced that the Federal Government is acting impulsively on a matter as sensitive as this. And our conviction is based on many things that cannot just add up. Beyond the issues already raised, let us consider the following economic confusions:
”In the 2022 Appropriation Bill, the FG already provided for fuel subsidies. One then wonders why it will provide for what it plans to eliminate.
”Upon which data did the Honourable Minister of Finance, Budget and National Planning determine that only 40 million Nigerians are vulnerable? And what is the definition of vulnerability in our socioeconomic context?
“Where does she intend to generate the money which will be paid to those 40 million Nigerians since there is no provision for it in the 2022 Appropriation Bill?
”Is it not a very strange economics to rob the poor to pay the poor even lower? In which economic sense or theory does 5000 the inflationary effect of 200 percent increment on the central economic item of a country?”
Asefon urged the government to rescind the plan till adequate arrangements like refining at home and utilising the nation’s petrochemical by-products are made.
”After that, there will be a robust discussion by all stakeholders to deal with associated socioeconomic issues and discuss the details of the new regime. It is only on this condition that there can be a corresponding social equilibrium, economic prosperity, job and wealth creation for Nigerians.”
Finance, Budget and National Planning Minister , Zainab Ahmed, had announced that the government would remove fuel subsidy and replace it with a monthly N5,000 transport grant to about 40 million poor Nigerians.
The Nation
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Railway
NRC Cries Out as Vandals Strip Railway Tracks in Plateau, Bauchi
NRC Cries Out as Vandals Strip Railway Tracks in Plateau, Bauchi
The Nigerian Railway Corporation has raised fresh concern over reported coordinated attacks on railway infrastructure in parts of the country, warning that the growing wave of vandalism may trigger fatal train accidents and undermine billions of naira invested in the rail sector.
The corporation said recent incidents recorded in Plateau and Bauchi states have exposed a dangerous trend of deliberate destruction and illegal removal of railway materials critical to safe train operations and national economic activities.
According to a statement issued by the Chief Public Relations Officer of the NRC, Callistus Unyimadu, one of the latest incidents occurred on May 21, 2026, when a truck loaded with suspected vandalised railway materials got stuck between Kuru and Science School in Plateau State, exposing the activities of criminal elements involved in the theft and illegal transportation of railway assets.
The NRC also disclosed that along the Zango axis in Bauchi State, between Kilometer 878 and 889, railway slippers were completely removed on both sides of a level crossing, leaving only a few disconnected rail components behind.
The corporation warned that the destruction of railway tracks, slippers, clips, fastenings and signalling materials poses grave danger to rail transportation, noting that such acts could lead to catastrophic train accidents, disruption of services, loss of lives and severe economic setbacks.
Describing the development as an attack on critical national infrastructure and public safety, the Managing Director and Chief Executive Officer of the NRC, Kayode Opeifa, condemned the persistent vandalism, saying it amounted to sabotage against national progress.
He noted that the increasing incidents across the North Central and North East railway corridors indicate an alarming pattern requiring urgent intervention from security agencies, state governments, traditional rulers, community leaders and residents living along rail lines.
Opeifa appealed to Nigerians to regard railway infrastructure as a strategic national asset built with taxpayers’ money to support transportation, trade and economic growth, stressing that such facilities should not be reduced to scraps for illegal business activities.
He warned vandals, scrap dealers and other individuals involved in the unlawful purchase, destruction or movement of railway materials to desist immediately or face prosecution.
The corporation further called on security agencies to strengthen surveillance and enforcement operations around railway corridors nationwide, while urging members of the public to remain vigilant and promptly report suspicious activities around railway facilities.
The NRC urged Nigerians to join hands in protecting railway infrastructure, insisting that the nation’s rail system remains too important to be left vulnerable to criminal attacks.
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Railway
Sallah Rush: NRC Adds Extra Lagos-Ibadan Train Trips, Osun Sponsors Free Rail Service
Sallah Rush: NRC Adds Extra Lagos-Ibadan Train Trips, Osun Sponsors Free Rail Service
The Nigerian Railway Corporation has announced additional train services on the busy Lagos–Ibadan corridor ahead of the Sallah celebration, citing an anticipated surge in passenger traffic during the festive period.
In a statement signed by the Corporation’s Chief Public Relations Officer, Callistus Unyimadu, the rail operator said six train trips would operate on Tuesday, May 26, 2026, instead of the regular four trips currently running on the Lagos–Ibadan Train Service (LITS) route.
According to the NRC management, the temporary increase is aimed at easing movement for Nigerians travelling to celebrate Sallah with their families and loved ones.
Under the special arrangement, trains will depart from the Lagos end at 7:45am, 1:40pm and 4:00pm, while departures from Ibadan are scheduled for 8:00am, 10:50am and 4:30pm.
The corporation stressed that the expanded operations are only for the Sallah travel window, noting that the normal four-trip Tuesday timetable would resume immediately after the festivities.
It also disclosed that the recently introduced six-trip Thursday operations on the corridor would be temporarily scaled down next week, with only four trips scheduled for Thursday, May 28, during the review period. The regular Thursday six-trip schedule will return the following week.
Meanwhile, the Osun State Government is set to operate its annual free Sallah train service on the NRC narrow gauge line for indigenes travelling home for the celebration in Osogbo.
The special train service will depart from Iddo Station in Lagos on Tuesday, May 26, while the return journey from Osogbo to Lagos is scheduled for Thursday, May 28.
NRC explained that the service, traditionally provided during festive seasons, is being sponsored by the Osun State Government through a paid partnership with the Corporation to enable Osun indigenes travel free of charge for the Sallah celebration.
The management reaffirmed the corporation’s commitment to providing safe, efficient and reliable rail transport services across the country, while wishing Nigerians a peaceful and memorable Sallah celebration.
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Auto
Jetour T2 Earns Top Global Safety Rating, Intensifies SUV Battle in Nigeria
Jetour T2 Earns Top Global Safety Rating, Intensifies SUV Battle in Nigeria
Jetour has thrown down the gauntlet in Nigeria’s increasingly competitive SUV market after its rugged T2 model secured the coveted NCAP 5-Star safety rating — a global benchmark regarded as the highest standard in crash protection and accident avoidance technology.
The achievement is expected to boost the brand’s appeal among Nigerian motorists seeking tough, family-oriented SUVs that combine advanced safety, luxury and off-road capability for the country’s challenging road conditions.
Jetour Nigeria discloses this in a statement, stressing that it is backing the T2 with a growing nationwide dealership and after-sales support network, including trained technicians, genuine spare parts, structured maintenance plans and warranty coverage aimed at boosting long-term ownership confidence.
Positioned as a bold “super SUV,” the Jetour T2 was designed specifically with Nigerian driving conditions in mind, according to the automaker.
In a country where motorists often encounter congested urban roads, long-distance highways and rough rural terrain within the same trip, the T2 is engineered to adapt seamlessly to changing environments.
Safety is seen as one of the vehicle’s strongest selling points. The SUV comes equipped with a comprehensive airbag system, SRS airbags, parking sensors, rear camera and surround-view monitor.
It also features advanced driver-assistance technologies such as Anti-lock Braking System, Emergency Braking Assist and Auto-Brake Assist, which help detect potential collisions and automatically apply braking when necessary.
Beyond safety, the T2 projects a muscular and commanding presence aimed at drivers looking for both ruggedness and refinement.
Jetour says the SUV was built to offer confidence for daily commuting while remaining capable enough for off-road adventures.
Inside, the cabin combines premium comfort with practical space. Measuring 4,785mm in length, 2,006mm in width and 1,880mm in height, the SUV offers generous legroom and headroom for occupants, making it suitable for long-distance travel and family use.
Under the hood, the T2 is powered by a 2.0-litre turbocharged engine delivering 187kW (254hp) and 390Nm of torque.
Paired with a 7-speed dual-clutch transmission, the setup provides strong acceleration, smooth overtaking capability and enough power to tackle steep inclines and demanding terrains.
A major highlight of the SUV is its advanced multi-terrain capability. The T2 features a BorgWarner sixth-generation four-wheel-drive system and XWD automatic intelligent drivetrain.
Multiple drive modes — including Sport, Eco, Normal, Mud, Rock and X Smart — allow the vehicle to adjust to varying road conditions ranging from muddy rural tracks to sandy and rocky surfaces.
Technology and convenience also feature prominently in the package. A 15.6-inch LCD touchscreen serves as the hub for infotainment, vehicle diagnostics and off-road information.
Apple CarPlay, Android Auto, Bluetooth connectivity, intelligent voice commands, cruise control and crawl control are integrated to enhance the driving experience.
Additional features such as remote start, push-button ignition, lane departure warning and blind-spot detection further improve convenience and safety for drivers.
With the T2, Jetour is seeking to position itself as a brand that understands the realities of Nigerian roads and the increasing appetite among motorists for SUVs that combine adventure, luxury and safety without compromise.
Jetour Nigeria specifically lists its accredited dealers spread across the country as Elizade Nigeria Limited, New Era AutoVehicle Services Limited, Kojo Motors, Germaine Auto Centre, Tab Autos Limited, R. T. Briscoe Motors and Mandilas Autos.
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