Uncategorized
Petrol subsidy debate: Our discount offers relief, not subsidy restoration – NNPC
By Sam Otuonye
The Nigeria National Petroleum Company Limited (NNPC Limited), has said that the petrol price reduction did not amount to the reversal of subsidy regime rather its contribution to practically alleviate hardship in the country.
The national oil firm made the clarification against the backdrop of federal government’s price reduction announcement on Thursday, referring to the relief as price discount and not subsidy, in a press statement on Friday.
It declared its reaffirmed commitment to supporting the Federal Government’s efforts to provide relief for Nigerians amid elevated global crude oil prices arising from the Middle East conflict and the resulting impact on domestic petrol prices.
“We recognise that higher petrol prices affect everyday life, from the cost of commuting to the expenses of running a business. We understand the strain on families and livelihoods, and this discount is intended to provide direct relief to customers during this difficult period.
“Following the statement by the Honourable Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on 8 October 2026, NNPC Limited reiterates its commitment to working with the government and stakeholders to cushion the impact of rising fuel prices on households, businesses and the wider economy”, the statement noted.
It recalled that before the announcement, the company had introduced a sales discount on 1 October 2026 to commemorate Nigeria’s 66th Independence Anniversary. This will now continue until 31 October 2026 across NNPC Retail stations nationwide.
The statement further noted: “This discount is a customer relief initiative and does not represent the reintroduction of petroleum subsidy.
This initiative supports the government’s responsible and proactive approach to providing practical relief to Nigerians during a period of heightened global market uncertainty. The initiative applies to NNPC Retail outlets and does not establish a uniform national pump price or alter the market-based pricing framework applicable to petroleum products.
“NNPC Limited remains committed to reliable product supply and collaboration with the government and stakeholders to help ease the burden on Nigerians. We therefore urge the public to disregard any interpretation of this discount as a subsidy restoration.
“We assure the public that our commitment to reliable supply and responsible customer service remains firm. Our priority is to provide practical support while maintaining commercially responsible operations. We will continue to explain the scope and duration of our customer initiatives clearly, so Nigerians can make informed purchasing decisions.
“We appreciate Nigerians’ continued patronage and support, and remain committed to clear communication about our products, prices and customer initiatives.”
It would be recalled that opposition parties and some analysts have labelled the gesture as a form of subsidy, claiming that subsidy removal worsened the economic condition and at the foundation of the persistent hardship.
Uncategorized
CGC Adeniyi Pledges Customs’ Support for Nigeria’s $1tn Economy Target
By Sam Otuonye
The Comptroller-General of Customs (CGC), Adewale Adeniyi, has pledged the full support of the Nigeria Customs Service (NCS) for the realisation of Nigeria’s ambition to build a $1 trillion economy, stressing the need for institutions to translate national aspirations into concrete, measurable results.
CGC Adeniyi committed on Tuesday, 6 October 2026, while delivering a keynote address at the New Nigeria Festival at the Shehu Musa Yar’Adua Conference Hall, Abuja, saying the economic target was achievable if the plans and strategies developed to achieve it were properly implemented.
The CGC said the Customs had moved beyond ideas and discussions to taking practical steps in support of the national economic ambition, citing the Service’s ongoing Modernisation Reforms, including the deployment of B’Odogwu, the Authorised Economic Operator (AEO) programme and the Advance Ruling mechanism, as initiatives designed to facilitate legitimate trade, improve predictability in the trading environment and ultimately strengthen revenue generation.
“Execution is nothing if it is not concrete. We have to move from ideas to action and ensure that whatever we plan translates into results. That is how we can begin to see the kind of transformation we are talking about.” He said.
Adeniyi stressed that the responsibility for achieving the $1 trillion economy could not rest solely on government agencies, noting that the target required the collective commitment of institutions, businesses and citizens.
He said the Customs Service, by virtue of its responsibilities in revenue collection, trade facilitation and border management, remained strategically positioned to contribute to the country’s economic transformation.
CGC Adeniyi therefore called for a shift from rhetoric to implementation, stressing that the country’s economic ambition could be achieved only when institutions and citizens alike took ownership of their responsibilities and turned plans into practical, measurable action.
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Climate advocates to push for commitment to delivery shift at ACF 2026 conference
By Sam Otuonye
Africa Climate Forum (ACF), a climate change stakeholder group, has said that Africa’s climate ambitions must be matched with financial, coordination, and execution realities to achieve a measurable outcomes for the continent.
The group argues that as Africa’s climate ambitions are increasingly confronted with the realities of financing, coordination and execution, attention should shift to the harder issue of how commitments can be translated into action that delivers measurable results for the continent.This becomes the focus of their 2026 conference that will bring together policymakers, business leaders, investors and climate practitioners in Abuja on October 13 and 14.
The fourth in its edition, organised by the Global Centre for Law, Business and Economy (GCLBE), will hold at the Shehu Musa Yar’Adua Centre, Abuja, under the theme, “Implementing in Lockstep: Public-Private Action for Green Outcomes.”
The two-day event, which will feature both physical and virtual participation from across Africa and beyond, is expected to examine how governments, businesses, financial institutions and development partners can strengthen collaboration to accelerate the continent’s climate transition.
The Forum comes at a time when Africa’s climate ambitions are increasingly being confronted by challenges around financing, institutional coordination and implementation.
Among those expected at the event are Ambassador Philbert Abaka Johnson, Director and UNIDO Representative in Nigeria and ECOWAS; Mr Olasupo Shasore, SAN, Senior Partner at Africa Law Practice NG & Company; Hon. Sam Onuigbo, Governing Board Member and Chairman of the Committee on Security, Special Interventions and Climate Change at the North East Development Commission; Dr Salisu Dahiru, former Director-General of the National Council on Climate Change; and Engr. Chijioke Okwuokenye, Managing Director of Abuja Electricity Distribution Company.
Others include Dr Forster Boateng, Managing Director of C4Impact Advisory Group; Dr Gloria Boamah Kusi, Senior Sustainability Officer at the Jospong Green Transition Office; Dr Debany Fonseca Batista, Research Associate at Dalhousie University’s CERC.OCEAN Laboratory and Executive Director of the DOTCAN Institute; and Claudette Hutchinson, Chief Executive Officer and AI Implementation Architect at Owning My.
Speaking on the event, the Convener and Director-General of GCLBE, Prof. George Nwangwu, said climate action requires more than commitments, stressing the need for governments, businesses and financial institutions to work together to achieve measurable outcomes.
“Climate action requires more than ambition. It requires governments, businesses and financial institutions to move together. We have an opportunity to refine our partnerships, forge new ones, and make bold commitments that can translate into meaningful action,” he said.
The programme will feature plenary sessions addressing critical issues affecting Africa’s climate transition, including private-sector participation, carbon markets, energy access and natural gas, food security and adaptation, community-led climate action, human rights and the just transition.
Participants will also examine the role of artificial intelligence, data and digital technologies in improving climate planning, implementation and delivery.
A major component of the event will be the ACF Deal Room, designed to connect climate project developers and green businesses with investors and financial institutions. The initiative will run throughout the two-day event and is expected to provide opportunities for partnerships and access to climate finance.
The Forum will also host a Pulitzer Centre side event on Journalism, Climate Action and Civic Space Engagement, which will explore the role of public-interest journalism in strengthening climate accountability, improving public understanding and amplifying the experiences of communities affected by climate change.
The Abuja gathering follows climate conversations held by ACF in Accra earlier in the year, where stakeholders discussed climate partnerships, financing, just transition and public-private collaboration.
Since its inaugural edition in 2023, the Africa Climate Forum has provided a platform for policymakers, businesses, investors and development stakeholders to deliberate on Africa’s climate response.
Uncategorized
Climate advocates to push for
commitment to delivery shift at ACF 2026 conference
By Sam Otuonye
Africa Climate Forum (ACF), a climate change stakeholder group, has said that Africa’s climate ambitions must be matched with financial, coordination, and execution realities to achieve a measurable outcomes for the continent.
The group argues that as Africa’s climate ambitions are increasingly confronted with the realities of financing, coordination and execution, attention should shift to the harder issue of how commitments can be translated into action that delivers measurable results for the continent.This becomes the focus of their 2026 conference that will bring together policymakers, business leaders, investors and climate practitioners in Abuja on October 13 and 14.
The fourth in its edition, organised by the Global Centre for Law, Business and Economy (GCLBE), will hold at the Shehu Musa Yar’Adua Centre, Abuja, under the theme, “Implementing in Lockstep: Public-Private Action for Green Outcomes.”
The two-day event, which will feature both physical and virtual participation from across Africa and beyond, is expected to examine how governments, businesses, financial institutions and development partners can strengthen collaboration to accelerate the continent’s climate transition.
The Forum comes at a time when Africa’s climate ambitions are increasingly being confronted by challenges around financing, institutional coordination and implementation.
Among those expected at the event are Ambassador Philbert Abaka Johnson, Director and UNIDO Representative in Nigeria and ECOWAS; Mr Olasupo Shasore, SAN, Senior Partner at Africa Law Practice NG & Company; Hon. Sam Onuigbo, Governing Board Member and Chairman of the Committee on Security, Special Interventions and Climate Change at the North East Development Commission; Dr Salisu Dahiru, former Director-General of the National Council on Climate Change; and Engr. Chijioke Okwuokenye, Managing Director of Abuja Electricity Distribution Company.
Others include Dr Forster Boateng, Managing Director of C4Impact Advisory Group; Dr Gloria Boamah Kusi, Senior Sustainability Officer at the Jospong Green Transition Office; Dr Debany Fonseca Batista, Research Associate at Dalhousie University’s CERC.OCEAN Laboratory and Executive Director of the DOTCAN Institute; and Claudette Hutchinson, Chief Executive Officer and AI Implementation Architect at Owning My.
Speaking on the event, the Convener and Director-General of GCLBE, Prof. George Nwangwu, said climate action requires more than commitments, stressing the need for governments, businesses and financial institutions to work together to achieve measurable outcomes.
“Climate action requires more than ambition. It requires governments, businesses and financial institutions to move together. We have an opportunity to refine our partnerships, forge new ones, and make bold commitments that can translate into meaningful action,” he said.
The programme will feature plenary sessions addressing critical issues affecting Africa’s climate transition, including private-sector participation, carbon markets, energy access and natural gas, food security and adaptation, community-led climate action, human rights and the just transition.
Participants will also examine the role of artificial intelligence, data and digital technologies in improving climate planning, implementation and delivery.
A major component of the event will be the ACF Deal Room, designed to connect climate project developers and green businesses with investors and financial institutions. The initiative will run throughout the two-day event and is expected to provide opportunities for partnerships and access to climate finance.
The Forum will also host a Pulitzer Centre side event on Journalism, Climate Action and Civic Space Engagement, which will explore the role of public-interest journalism in strengthening climate accountability, improving public understanding and amplifying the experiences of communities affected by climate change.
The Abuja gathering follows climate conversations held by ACF in Accra earlier in the year, where stakeholders discussed climate partnerships, financing, just transition and public-private collaboration.
Since its inaugural edition in 2023, the Africa Climate Forum has provided a platform for policymakers, businesses, investors and development stakeholders to deliberate on Africa’s climate response.
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