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IMF Urges FG to Discontinue Electricity Subsidy

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The Nigerian government has been advised by the International Monetary Fund to eliminate what it has described as hidden subsidies on fuel and electricity.

In a recent report from the IMF, Nigeria was informed that subsidies are expected to consume three percent of the country’s Gross Domestic Product in 2024, a notable increase from the one percent in the previous year.

As per the report, the IMF praised the Federal Government for its decision to gradually eliminate expensive and inequitable energy subsidies. The IMF stated that this action is crucial for freeing up financial resources for development initiatives, enhancing social safety nets, and ensuring sustainable debt levels.

IMF said, “once the safety net has been scaled up and inflation subsides, the government should tackle implicit fuel and electricity subsidies”.

“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”.

“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”.

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Abuja hotel collapse: Wike orders arrest of owner, to convert land to public use

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The Minister of the Federal Capital Territory, Nyesom Wike, has ordered the immediate arrest of the owner of a multi-story hotel that collapsed in Jikwoyi, Abuja last Friday, April 4 and announced that the land would be seized for public use.

LIB had reported that the building crumbled while workers were on site, triggering an emergency response from relevant authorities.

Visiting the site today April 7, Wike said the building was constructed without approval from the FCT Department of Development Control and that all the stop-work notices sent to the builders were ignored by the developer.

Wike confirmed that while there were no fatalities, several people sustained injuries and were taken to the hospital. He warned that the outcome could have been far worse.

Announcing the government’s plans for the land, Wike said the FCT Administration will take over the land for public use, noting that those responsible for the illegal construction will face prosecution in accordance with the law.

He added that the local community would be consulted to determine a suitable public-purpose project for the reclaimed site.

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Ex-INEC Chairman Prof. Attahiru Jega Loses Wife

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Hajiya Hadiza Attahiru Jega, wife of former Independent National Electoral Commission (INEC) Chairman, Attahiru Jega, has passed away.

Her family confirmed the development in a statement issued on Sunday, April 5, 2026, announcing that her Janaiza prayer would be held after the Zuhr prayer at 1:30 p.m. at the National Mosque Abuja.

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Local Government Chairman Slumps And D!es Four Days After D3ath Of His Wife (Photos)

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Former chairman of Konshisha Local Government Area of Benue State, Hon Moses Shirsha, has d!ed four days after the d3ath of his wife, Mercy Mngu.

It was gathered that his wife suddenly passed away on March 25, 2026.

On March 29, Moses slumped and d!ed in the village when he travelled for burial arrangements of his wife.

The couple will both be laid to rest on the same day, Friday 10th April 2026 in Mbaasuku, Mbator Gaav, Konshisha LG.

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