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Economic Reforms Prevented Deeper Hardship in Nigeria, Says Finance Minister Oyedele
Economic Reforms Prevented Deeper Hardship in Nigeria, Says Finance Minister Oyedele
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has acknowledged that many Nigerians are yet to feel the benefits of the Federal Government’s economic reforms.
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He said the impact of macroeconomic stability must be reflected in household living conditions.
Oyedele stated this on Wednesday while speaking at Chatham House in London, where he defended the removal of the petrol subsidy and the unification of the foreign exchange market, while admitting that food prices and the cost of living remained major challenges.
“Macroeconomic stability means little to a mother who still cannot afford food. And to be candid, food inflation remains too high,” he said.
The minister said the government recognised that falling headline inflation did not necessarily mean that households were experiencing relief from rising prices, particularly the cost of food.
He explained that food inflation remained a concern because of low agricultural yields, seasonal farming, post-harvest losses, inadequate storage and transportation, as well as insecurity in farming communities.
“We wait for the rain before we plant. Post-harvest losses that waste a large share of what our farmers produce,” Oyedele said, identifying some of the challenges affecting food production and supply.
He added that Nigeria lost a significant proportion of its tomato output after harvest, partly because of weak storage and logistics.
“For tomatoes, we lose up to 60 per cent of what we produce,” he said.
According to the minister, the government’s response would focus on improving food supply by investing in agricultural technology, irrigation, storage facilities and rural roads, while strengthening security in farming communities.
He also said the government was expanding access to finance for smallholder farmers and small businesses, which he described as important sources of employment.
Oyedele said the administration was also providing direct support to vulnerable households while longer-term investments were being implemented.
“Our cash transfer programme has now reached over 10 million households, paid digitally and verified by national identity number, so that support reaches the people who need it, not the middlemen,” he said.
The minister’s remarks came as he defended the economic reforms introduced by President Bola Tinubu’s administration, including the removal of petrol subsidy and the unification of the foreign exchange market.
He acknowledged that the reforms had imposed significant pressure on households, noting that inflation peaked at 34.6 per cent in November 2024.
Oyedele argued that the government had inherited an unsustainable economic situation in 2023, when petrol subsidy spending exceeded combined expenditure on health and education and the country operated multiple foreign exchange windows.
He said the reforms were intended to address those distortions and restore economic stability, insisting that reversing them would have exposed the country to deeper economic difficulties.
“Reform did not create the hardship. It prevented a deeper one that was building in silence,” he said.
The minister added that the government’s assessment of its economic policies should go beyond improvements in macroeconomic indicators to whether Nigerians were experiencing better living conditions.
“Our test is clear. Reform must be felt in the kitchen, not only in the reserve numbers. We will judge ourselves by the test, by that test, and we invite you to judge us by it too,” he said.
He said the next phase of the government’s economic programme would focus on translating stability into faster and more inclusive growth through private investment, infrastructure development and increased domestic production.
“The task now is to turn stability into accelerated, inclusive growth,” Oyedele said.
He explained that the government was seeking to move away from reliance on public borrowing towards private capital, while directing investment into power, transport, agriculture and agro-processing.
On the political implications of the reforms ahead of the 2027 general elections, Oyedele expressed confidence that the government would maintain its economic policy direction.
Taiwo Oyedele
He said the administration was strengthening institutions and laws to make the reforms sustainable, while improving budget preparation and execution to ensure that public spending followed established plans.
“The best economic policy in an election year is the same as in any other year. That is the point of credibility,” he said.
Oyedele added that the government would continue publishing information on revenue, borrowing, debt servicing and spending to strengthen transparency.
He maintained that the ultimate test of the reforms would be whether economic improvements translated into tangible benefits for households and businesses.
Eereporter.com
Court Sentences Three Men to Death for Kidnapping Catholic Priests in Adamawa
The High Court of Adamawa State has sentenced three men to death for kidnapping two Catholic priests in February 2025, bringing to seven the number of death sentences reportedly secured by the Department of State Services (DSS) in 2026.
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The convicts, Taledo Demiel, Namomai Medan and Mikaila Yusuf, were sentenced on Thursday by Justice Christopher Mapeo after being found guilty of criminal conspiracy to commit kidnapping, conspiracy to commit armed robbery, armed robbery, harbouring kidnapped persons and negotiating to receive ransom.
The case involved the abduction of Reverend Fathers Matthew Dutsemi and Abraham Sauman, according to a report by conflict reporter and counterinsurgency expert Zagazola Makama.
The judgment adds to a series of death sentences reportedly secured in different courts across Nigeria in 2026 in cases involving kidnapping, terrorism, armed violence and the killing of civilians.
On May 20, 2026, an Ekiti State High Court sentenced two men, Ibrahim Abubakar and Abdullahi Abubakar, to death by hanging for kidnapping.
On June 3, a Federal High Court in Abuja sentenced four men to death by hanging for their involvement in the June 2022 massacre of worshippers at St. Francis Catholic Church in Owo, Ondo State.
The four convicts were identified as Idris Abdulmalik Omeiza, Alqasim Idris, Jamiu Abdulmalik and Abdulkareem Idris.
On June 15, a Katsina State High Court sentenced Hauwa’u Mukhtar, a female arms courier, to death by hanging.
The following day, June 16, a Kogi State High Court sentenced Jibrin Halilu to death by hanging for kidnapping and murdering his neighbour in Obajana, an industrial town in the state.
On June 22, a Sokoto State High Court sentenced three men, namely Muhammed Yusuf Sallau, Jabbi Ahlaji Yale and Kabiru Muhammed, to death by hanging for terrorism and transporting arms.
More recently, on September 28, 2026, a Sokoto State High Court sentenced Ibrahim Usman, popularly known as Dan Iyali, to death by hanging over his involvement in the killing of three kidnapped persons in the state.
Court
The latest judgment highlights ongoing efforts to prosecute serious security-related offences, particularly kidnapping for ransom, which continues to threaten communities and religious institutions in parts of Nigeria.
Intelligence and law enforcement agencies, including the DSS, play roles in investigating security-related offences and supporting prosecutions.
However, death sentences remain subject to applicable legal processes, including any available appeals and constitutional requirements governing their implementation in Nigeria.
Eereporter.com
ICPC, Xinhua News Agency Strengthen Partnership on Anti-Corruption, Public Enlightenment
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has received a delegation from Xinhua News Agency, China’s state news agency, on a courtesy visit to explore collaboration and partnership opportunities in anti-corruption efforts, capacity building, public enlightenment and strategic communication.
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The delegation comprised Mr. Gui Tao, Deputy President of Xinhua in Africa; Ms. Wang Qi, Senior Editor, Xinhua Africa Regional Bureau; Ms. Liu Jiaqi, Editor, Xinhua Africa Regional Bureau; Mr. Hong Zehua, Abuja Bureau Chief; and Mr. Olatunji Saliu, English News Editor for Nigeria and Liberia.
ICPC
The engagement focused on strengthening collaboration in public communication, enhancing public awareness and building capacity to support the shared goal of curbing corruption and promoting transparency and accountability.
The proposed partnership underscores the importance of strategic media engagement in amplifying anti-corruption messages, promoting public participation and fostering a culture of integrity.
@chinaxinhuanews
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News
2027 Elections: NPF Begins Training of 10,000 Officers As IGP Charges Personnel on Neutrality, Professionalism
2027 Elections: NPF Begins Training of 10,000 Officers As IGP Charges Personnel on Neutrality, Professionalism
With the 2027 General Elections less than three months away, the Nigeria Police Force, in collaboration with the Nigeria Police Trust Fund (NPTF), has commenced the training of 10,000 Police officers nationwide on election security management, with the Inspector-General of Police, IGP Olatunji Rilwan Disu, psc(+), NPM, directing personnel to remain neutral, professional and accountable throughout the electoral process.
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The five-day programme, formally declared open today Thursday, 22 October 2026, at the Nigeria Police Resource Centre, Jabi, Abuja, is being implemented across designated centres and focuses on election security management, crowd control, conflict prevention, rules of engagement, human rights, intelligence gathering and lawful response to election-related incidents. The first phase brings together officers across 18 states and the Federal Capital Territory, with the training designed to ensure uniform operational standards ahead of nationwide deployment.
Addressing participants, the IGP stressed that security is the foundation of a credible election and that officers deployed for election duties must protect voters, electoral officials and the process without fear or favour. He warned that any officer who compromises the neutrality of the Force would be held accountable, while directing Commands to strengthen intelligence gathering, operational planning and inter-agency coordination, particularly in areas affected by terrorism, banditry, kidnapping and communal violence.
The IGP also warned against political violence, voter intimidation, ballot-box snatching, vote-buying and other electoral offences, stressing that offenders would be arrested and prosecuted in accordance with the law. He further announced that a dedicated 24-hour complaints line would be made available for members of the public to report misconduct by personnel on election duty, while urging political parties, candidates and supporters to campaign peacefully and encouraging the media and civil society to verify information before dissemination.
Speaking at the event, the Executive Secretary of the Nigeria Police Trust Fund, Alhaji Mohammed Sheidu, reaffirmed the Fund’s commitment to supporting Police preparedness through training, operational equipment and mobility, noting that the initiative is aimed at producing officers who are disciplined, impartial and responsive throughout the electoral process.
The ceremony was attended by Rear Admiral Sadiq Malaja, mni, OFR (Rtd.), representing the Chairman of the Independent National Electoral Commission; Mr Afam O. Okeke, General Secretary of the Nigerian Bar Association; Brigadier General J.A. Ifeanyi, representing the Chief of Army Staff; Group Captain Yakubu Yusuf, representing the Chief of Air Staff; DCG Zakari Ibrahim, representing the Commandant-General of the Nigeria Security and Civil Defence Corps; Alhaji Mohammed Sheidu, Executive Secretary, Nigeria Police Trust Fund; as well as members of the Force Management Team and other senior Police officers.
IGP Disu
The Nigeria Police Force remains committed to sustained training, intelligence-led planning, inter-agency collaboration and professional, neutral policing towards providing a safe and secure environment for Nigerians to exercise their electoral rights during the 2027 General Elections.
CSP ANI INIEDU, anipr
Force Public Relations Officer
Force Headquarters, Abuja
22nd October 2026
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