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FINANCE MINISTER SAYS SUBSIDY SAVINGS ABSORBED BY DEBT SERVICING, WAGES AND SOCIAL PROGRAMS Nigeria's Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, stated on Thursday, July 31, 2026, that fiscal savings from the removal of fuel subsidies and foreign exchange market reforms have been largely absorbed by increased debt servicing costs, higher wage bills, and expanded social spending programs. The Minister made the statement during the African Emerging Markets Forum held in Abuja. STATEMENT FROM THE MINISTER Oyedele said that prior to 2023, the Federal Government spent approximately 5% of Gross Domestic Product annually on fuel subsidies and implicit foreign exchange subsidies. Following the policy reforms announced by President Bola Tinubu in May 2023, the government projected that the removal of these subsidies would free up fiscal resources for infrastructure, health, education, and other developmental priorities. However, according to Oyedele, the sa...

GUNMEN KILL 12, ABDUCT WOMEN AND CHILDREN IN SOKOTO VILLAGE ATTACK. ABUJA. Armed men killed at least 12 people and abducted women and children during a night attack on Lajinge village in Nigeria's northwestern Sokoto state. The incident occurred between 11:00 PM on Saturday, August 1, 2026, and 3:00 AM on Sunday, August 2, 2026. According to eyewitness accounts, the attackers arrived on motorcycles and targeted residential buildings and livestock enclosures. The Sokoto State Police Command confirmed the attack and stated that investigations are ongoing. DETAILS OF THE ATTACK Residents reported that the gunmen entered Lajinge village at approximately 11:00 PM. The attackers moved in groups and operated for about four hours before withdrawing. Auwal Hassan, a resident of Lajinge, told Reuters by telephone: “They killed at least 12 people, injured four others, abducted women and children after rustling many livestock.” Six members of one family were reported to have died after the att...

GLASGOW 2026 COMMONWEALTH GAMES END TODAY AS TEAM NIGERIA CHASES FINAL MEDALS. ABUJA - The Glasgow 2026 Commonwealth Games officially close today, bringing an end to 11 days of competition that began July 23.  About 3,000 athletes from 74 Commonwealth nations competed across 10 sports and 6 para sports.  Nigeria came into Glasgow with high hopes after finishing 7th on the medal table in Birmingham 2022 with 11 gold, 9 silver and 14 bronze. ATHLETES TO WATCH FOLASHADE OLUWAFEMIAYO - Reigning Commonwealth para powerlifting champion and world-record holder, defending her title KAYINSOLA AJAYI - Sprint sensation and one of Africa’s fastest men, a top medal hope. Team Nigeria trained in Aberdeen before the Games. Confidence was boosted by FG’s announcement of $3,000 for every Nigerian gold medalist.  Officials said Nigeria is targeting medals in athletics, wrestling, weightlifting, boxing and para sports.  READ MORE : GLASGOW 2026 COMMONWEALTH GAMES: TEAM NIGERIA CHASE...