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IMF denies involvement in subsidy removal in Nigeria

The International Monetary Fund (IMF) recently clarified that it did not play any role in the Nigerian government’s decision to remove fuel subsidies.

This statement was made by Abebe Selassie, the IMF’s African Region Director, during a press conference at the IMF and World Bank Annual Meetings held in Washington, D.C. Selassie emphasized that the decision by President Bola Tinubu’s administration to remove fuel subsidies was entirely domestic, originating solely from the Nigerian government without any external influence or pressure from the IMF.

“We don’t have programmes in Nigeria,” Selassie stated, clarifying the organization’s limited engagement with Nigeria.

According to him, the IMF’s involvement with the country is confined to routine dialogues, similar to those it maintains with other nations such as Japan and the United Kingdom.

He explained that while the IMF regularly communicates with governments around the world, these discussions are not equivalent to the implementation of IMF-backed programs, nor do they imply direct influence on a country’s policy decisions.

The removal of fuel subsidies has sparked widespread discussion and debate in Nigeria, primarily because of its significant social and economic implications.

Many Nigerians have linked the subsidy removal to alleged pressures from international financial bodies like the IMF and the World Bank, accusing these institutions of indirectly dictating Nigeria’s fiscal policies.

However, Selassie’s remarks during the press conference sought to dispel these notions, reiterating that the IMF did not have an operational program within Nigeria that would warrant it to dictate policy actions.

Nonetheless, Selassie noted that the Nigerian government’s approach to removing fuel subsidies was aligned with long-term economic sustainability.

He acknowledged that such policy decisions are complex and often come with high social costs, which can impact vulnerable populations the most.

“We recognize the significant social costs involved,” Selassie said, noting that the government could implement mitigation measures to ease the burden on those most affected by the removal of fuel subsidies.

He highlighted the importance of expanding social protection programs, which could offer relief and support to Nigeria’s most vulnerable citizens during this period of transition.

On May 29, 2023, President Bola Tinubu announced the removal of the fuel subsidy, declaring, “Subsidy is gone.

” The decision, made immediately after his inauguration, was perceived as part of a broader economic reform agenda aimed at addressing Nigeria’s persistent fiscal challenges.

However, the removal of subsidies has led to a sharp increase in fuel prices, with the pump price of petrol rising to over 1,000 Naira per liter in many regions. This surge has had a ripple effect, contributing to inflation and increasing the cost of living for millions of Nigerians.

The sharp rise in fuel prices following the subsidy removal has not only placed a burden on individual households but has also intensified the economic strain on businesses and industries reliant on fuel.

Many Nigerians are now contending with increased transportation and food costs, while businesses face higher operating expenses due to the elevated cost of fuel.

This has fueled public discontent, with many citizens and analysts questioning whether the government has adequate social welfare structures in place to cushion the impact on vulnerable groups.

While some Nigerians acknowledge that subsidy removal might be a necessary step for economic restructuring, others argue that the government should have taken a phased approach, allowing time to develop compensatory mechanisms before implementing the policy.

There is widespread concern that, without proper support systems, the most vulnerable segments of society could suffer disproportionately.

Critics have also pointed out that while subsidy removal may alleviate certain fiscal pressures, it does not address underlying structural issues within the Nigerian economy, such as low levels of industrial production, high dependency on imports, and a persistent trade imbalance.

They argue that without addressing these foundational challenges, the benefits of subsidy removal may be short-lived and could further strain the country’s socio-economic fabric.

In response to the public criticism and widespread accusations that Nigeria’s economic policies are being shaped by international institutions, Selassie reiterated the IMF’s commitment to providing only advisory and technical support.

He emphasized that the IMF respects the sovereignty of its member countries, allowing them to make decisions based on their national interests.

He further noted that any assistance offered by the IMF is generally aimed at supporting the government’s long-term goals for sustainable economic growth and poverty alleviation, not at imposing policy changes.

In conclusion, the IMF has clarified that it did not influence or dictate Nigeria’s decision to remove fuel subsidies, which remains a contentious issue within the country.

While the government views this move as a pathway to long-term fiscal sustainability, the immediate impact on Nigerians has raised questions about the adequacy of social protection measures in place to support those affected by the rising costs.

The situation underscores the complex balance Nigeria must strike between economic reform and social stability, as well as the importance of clear communication and comprehensive planning when implementing policies with widespread implications.

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US Election: Charly Boy mute on divorcing wife after Harris’ loss

Renowned Nigerian musician and social activist, Charles Oputa, popularly known as Charly Boy, recently shared his disappointment over the outcome of the United States presidential election.

The outspoken entertainer, often known for his unconventional views and strong opinions on socio-political matters, had previously made a dramatic promise in anticipation of the election’s result.

Before the election, Charly Boy had publicly declared his unwavering support for Kamala Harris, the Democratic candidate, even going as far as making a bold vow that startled many of his fans and followers.

In a post written in Pidgin English, he promised that if Harris did not win the election, he would end his marriage to his wife of 47 years, Lady Diane Oputa.

His exact words were, “If dis my crush, Kamala Harris no win the USA presidential election, I swear, I go divorce my wife of 47yrs.

” The statement, which quickly went viral on social media, was seen as typical of Charly Boy’s dramatic and unfiltered style of expression, garnering both amusement and intrigue from his followers.

However, the election results did not align with Charly Boy’s hopes, as former U.S. president Donald Trump of the Republican Party emerged victorious, defeating Harris.

Charly Boy responded to the outcome with a mixture of disappointment and frustration, describing the situation as “unfortunate.

” Despite his earlier promise, he made no direct mention of whether he would follow through with his vow to divorce his wife.

This silence left fans speculating about whether his bold declaration was made in jest or whether he would genuinely act on it.

In a reflective post on X (formerly known as Twitter), Charly Boy expressed solidarity with fellow supporters of Kamala Harris, acknowledging the efforts and intelligence displayed by her during the campaign.

He wrote, “On behalf of all the lovers and fans of Kamala Harris, sorry we lost.

Our alfa woman ran the most intelligent campaign in less than 100 days.” His words captured both his admiration for Harris and his sense of collective disappointment over the outcome.

Charly Boy further shared his observations on the state of global leadership, suggesting that the current era is marked by what he perceives as a decline in quality and integrity among leaders worldwide.

He commented, “We win some, we lose some and that’s life.

It’s unfortunate but leadership globally has gone south as the worst of us rules the best of us. It shall be well.

” His statement resonated with his long-standing criticisms of what he sees as poor leadership and systemic issues within politics, both domestically and internationally.

While Charly Boy has yet to clarify his stance on his marriage in light of the election results, his comments reflect a broader disillusionment with political leadership.

Known for his activism and willingness to speak out against injustice, he has consistently used his platform to challenge the status quo, advocating for accountability and ethical governance.

His recent response to the U.S. election may be viewed as part of this ongoing effort to call for a higher standard in global leadership, even as he wrestles with his own expectations and hopes for political figures like Harris.

Ultimately, Charly Boy’s reaction to the election underscores his commitment to his ideals and his determination to remain a voice for change.

While his initial promise may or may not have been serious, his reflections reveal a deep-rooted dissatisfaction with the current political landscape and a desire for leadership that better represents the values he holds dear.

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UCL: Liverpool dominate group standings after match day 4

Liverpool have emerged as the dominant force in the UEFA Champions League after Match Week 4, firmly securing their position at the top of the table with a resounding 4-0 victory over Bayer Leverkusen on Tuesday.

This comprehensive win ensures that Jurgen Klopp’s side remains unbeaten in the competition, having won all four of their matches so far. Impressively, the Reds have not conceded a single goal, showcasing a rock-solid defensive display alongside their potent attacking prowess.

With this perfect record, Liverpool has established themselves as the only team with a full 12 points in the group stage, sending a strong message to their competitors.

The match against Bayer Leverkusen further highlighted Liverpool’s superiority, as they cruised to a comfortable victory with goals coming from various sources, underlining the team’s depth and collective effort.

The performance of their key players, such as Mohamed Salah and Virgil van Dijk, was pivotal in maintaining their dominance, as the German side had no answer to the high-intensity football that Liverpool exhibited.

The Reds’ impeccable form puts them in a commanding position as they aim to top their group and secure a place in the knockout stages.In second place, Sporting Lisbon have also enjoyed a brilliant run, albeit not as flawless as Liverpool’s.

Sporting secured a remarkable 4-1 thrashing of Manchester City, putting them level on points with Monaco, Brest, and Inter Milan, all of whom have accumulated 10 points after four matches. Sporting’s performance against Manchester City was one of the standout results of the group stages, as they inflicted a heavy defeat on the Premier League giants, raising eyebrows across Europe.

The Portuguese side has now positioned themselves as serious contenders for progression into the next round, with their attacking play and disciplined defense making them a formidable opponent.

Meanwhile, Real Madrid, the perennial European giants, have experienced a shock in the group stage. The Spanish club suffered a surprising 3-1 defeat at home to AC Milan, a result that leaves them languishing in 18th place.

This unexpected loss has placed significant pressure on Carlo Ancelotti’s men, as they now face a battle to secure their place in the knockout rounds.

Real Madrid’s defense was exposed on the night, and they were unable to recover from a strong Milan performance that left them stunned at the Santiago Bernabéu.

Paris Saint-Germain (PSG), another of Europe’s elite clubs, are also struggling in the competition, finding themselves in 25th place following a heartbreaking last-minute loss to Atletico Madrid.

Despite a wealth of attacking talent, including Kylian Mbappé and Lionel Messi, PSG has failed to deliver results when it matters most, leaving them with much to do in the remaining fixtures.With each club having played four matches, the competition is heating up, and the stakes are rising.

After all teams have played eight matches, the top eight from each group will move on to the prestigious knockout stages, while the teams ranked between ninth and 24th will be relegated to the play-offs, with the chance to fight for their place in the last 16.

The current standings set the stage for an exciting conclusion to the group phase, as clubs jockey for position and prepare for the challenges that lie ahead.

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US

Biden congratulates Trump, invites him to White House

President Joe Biden called Donald Trump to congratulate him on his victory Wednesday and invited his Republican successor to hold a meeting in the “near future,” the White House said.

In his call with Trump, “President Biden expressed his commitment to ensuring a smooth transition and emphasized the importance of working to bring the country together,” a White House statement said.

Biden also spoke with Kamala Harris and “congratulated the Vice President on her historic campaign,” the statement said, adding that the president on Thursday “will address the nation to discuss the election results and the transition.”

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Harris calls Trump to congratulate him on election win

US Vice President Kamala Harris called Donald Trump on Wednesday to congratulate him for winning the 2024 presidential election, one of her senior aides said, following a bitter and contentious race.

Democrat Harris discussed with Trump the importance of a peaceful transfer of power and being a president for all Americans, said the aide speaking on background, confirming that Harris will deliver remarks in Washington later Wednesday.

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Morocco 2025: Ekong, Lookman, Osimhen, Simon, 19 others gear up for Benin, Rwanda

Super Eagles

Captain William Ekong, Atalanta of Italy’s Ademola Lookman, effervescent winger Moses Simon, reigning Africa Player of the Year Victor Osimhen and 19 other players will seek for six points against Benin Republic and Rwanda in the closing rounds of the 2025 Africa Cup of Nations qualifying campaign this month.

Coach Augustine Eguavoen has also called goalkeepers Stanley Nwabali and Maduka Okoye, defenders Calvin Bassey and Bright Osayi-Samuel, as well as midfielders Frank Onyeka, Fisayo Dele-Bashiru and Alhassan Yusuf Abdullahi, and forwards Kelechi Iheanacho, Victor Boniface and Samuel Chukwueze. Home-based defender Victor Collins will join up with the group for the first time, and there is a return for gangling forward Sadiq Umar, who plays for Real Sociedad in Spain.

Defenders Olaoluwa Aina and Bruno Onyemaechi are also listed, while France-based defender Gabriel Osho will hope to play his first competitive game for fatherland, after his inability to honour a first call-up in the summer due to injury.

The Super Eagles will fly directly to Abidjan on 11 November, for the confrontation with the Cheetahs of Benin Republic at the Stade Felix-Houphouet-Boigny on Thursday, 14th November, before traveling down to Uyo for the final qualifying game against the Amavubi of Rwanda at the Godswill Akpabio Stadium on Monday, 18th November.

Currently top of their Group D, the Super Eagles will be certain of a place in the final tournament if they get a point against the Cheetahs, which will take then to 11 points, and with only final-day opponents Rwanda capable of catching up with them on points.

However, with a current tally of seven goals for and none against (following the CAF Disciplinary Board’s award of three points and three goals for the botched Matchday 4 encounter against Libya), the Super Eagles stand head and shoulders above the Amavubi, who have one-goal deficit and five points in their favour going into the final two matchdays.

Goalkeepers: Stanley Nwabali (Chippa United, South Africa); Maduka Okoye (Udinese FC, Italy); Amas Obasogie (Fasil Kenema SC, Ethiopia)

Defenders: William Ekong (Al-Kholood FC, Saudi Arabia); Bright Osayi-Samuel (Fenerbahce SK, Turkey); Bruno Onyemaechi (Boavista FC, Portugal); Gabriel Osho (AJ Auxerre, France); Calvin Bassey (Fulham FC, England); Olaoluwa Aina (Nottingham Forest, England); Victor Collins (Nasarawa United) Midfielders: Wilfred Ndidi (Leicester City, England); Raphael Onyedika (Club Brugge, Belgium); Alhassan Yusuf Abdullahi (New England Revolution, USA); Fisayo Dele-Bashiru (Lazio FC. Italy); Frank Onyeka (Augsburg FC, Germany); Alex Iwobi (Fulham FC, England) Forwards: Samuel Chukwueze (AC Milan, Italy); Victor Osimhen (Galatasaray FC, Turkey); Ademola Lookman (Atalanta FC, Italy); Kelechi Iheanacho

(Sevilla FC, Spain); Victor Boniface (Bayer Leverkusen, Germany); Moses Simon (FC Nantes, France); Sadiq Umar (Real Sociedad, Spain)

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US Elections: President-Elect, Trump thanks X boss, Elon Musk for his support

Donald Trump, the Republican candidate in the 2024 United States presidential race, has publicly lauded tech mogul and SpaceX CEO Elon Musk for his remarkable contributions, specifically his deployment of the Starlink satellite service in the aftermath of Hurricane Helene.

Speaking to his supporters on Wednesday, Trump praised Musk as a “super genius” and recognized his efforts during the hurricane’s destructive impact on the southeastern United States in October.Hurricane Helene left communities across the southeast struggling, with critical infrastructure downed and thousands in need of urgent assistance.

In response, Musk’s Starlink satellite network provided much-needed internet connectivity, especially in North Carolina, which faced significant communication challenges.

Trump emphasized the importance of this rapid support, saying, “I told Elon they need it badly in North Carolina. Can you get it? He had that there so fast, it was incredible. It saved a lot of lives.

They saved a lot of lives.” Trump’s remarks underscore the critical role that Starlink played in relief efforts, enabling first responders and affected residents to stay connected, access vital information, and coordinate rescue operations.Trump’s admiration for Musk extended beyond the immediate context of the hurricane response.

He described the billionaire entrepreneur as “a character” and “a special guy,” attributing Musk’s success and innovation to his unique intelligence and drive. Trump noted, “He’s a super genius. We have to protect our geniuses; we don’t have that many of them.” This statement not only reflects Trump’s appreciation for Musk’s skills and achievements but also his broader belief in the value of supporting talented innovators who contribute to the nation’s progress.

In recent years, Musk has been an outspoken supporter of Trump’s policies and has aligned with the former president on key issues, particularly in the realms of business and technology. Musk’s support for Trump’s 2024 presidential campaign has gone beyond verbal endorsement; he has reportedly made financial contributions aimed at bolstering Trump’s efforts to reclaim the White House.

Musk’s backing reflects a partnership built on shared interests and values, particularly around economic growth, technological advancement, and a commitment to the entrepreneurial spirit.

As a pioneer in space exploration, electric vehicles, and satellite technology, Musk’s influence has permeated various sectors of the American economy and global innovation.

His Starlink initiative, a satellite internet network designed to provide high-speed internet access in remote or underserved areas, has proven its value in times of crisis, including this recent disaster response.

Through his dedication to innovation and swift action during Hurricane Helene, Musk has demonstrated the potential of technology to address real-world challenges, earning him recognition not only from Trump but also from communities that benefited from his support.

In praising Musk, Trump highlighted a central theme of his 2024 campaign: the importance of fostering American talent and protecting the country’s innovators.

His remarks suggest that he sees figures like Musk as essential to driving America’s future, and his relationship with the tech visionary illustrates a broader vision for a nation where public and private sectors collaborate to solve critical issues and strengthen resilience against future challenges.

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