News
Fuel Price Hike: Nigerians In Diaspora Blames Tinubu’s Economic Managers
Nigerians in the diaspora, under the umbrella of Nigerian Professionals in Diaspora (NPID), has called for an urgent reassessment of the country’s monetary policies, following the recent hike in fuel prices.
In a statement released signed by Dr Obiora Okereke, President and Chief Mrs Bukola Shonekan, Secretary on Thursday, NPID expressed deep concern over the current state of Nigeria’s economy, particularly the recent spike in fuel prices, which has exacerbated the already challenging economic conditions for millions of Nigerians.
The group blamed the economic managers of the President Bola Ahmed Tinubu administration for failing to support the President’s vision with competent and effective policies, citing the poorly implemented floating of the Naira as a glaring example.
NPID noted that instead of stabilizing the currency and attracting foreign investment, the policy has resulted in further depreciation of the Naira, leading to an unstable exchange rate that has driven up the cost of goods and services across the board.
The group also called for the restructuring of the Nigerian National Petroleum Company Limited (NNPCL) debts, reportedly exceeding $6 billion, which has put the nation in a precarious position regarding fuel supply.
“We believe that President Tinubu’s vision for Nigeria is clear, but the implementation of his economic policies by his advisers and managers is lacking in strategic foresight and execution,” NPID said.
The group urged the President to take immediate action to address the economic challenges facing the country, including reassessing monetary policies, restructuring NNPCL’s debts, and holding economic managers accountable for their actions.
Foreign news
Algeria’s Glorious Revolution: Embassy Marks 72nd Anniversary in Abuja
Joel Ajayi
The Embassy of Algeria in Nigeria has commemorated the 72nd anniversary of the country’s Glorious Revolution of November 1, 1954, with a reception in Abuja, highlighting Algeria’s liberation struggle and strengthening diplomatic relations with Nigeria.
The event, held on November 9, 2026, at Continental Suites Hotel, attracted prominent personalities, including the Speaker of the House of Representatives, Dr Tajudeen Abbas, members of the Federal Government, senior government officials, heads of diplomatic missions and other friends of Algeria.
Speaking at the reception, Algeria’s Ambassador to Nigeria, Hocine Mezoued, welcomed guests and paid tribute to the country’s freedom fighters who sacrificed their lives during the struggle for independence.
He described the November 1, 1954 revolution as the foundation of modern Algeria, noting that the sacrifices of the nation’s martyrs made it possible for the country to reclaim its sovereignty.
On Algeria’s development agenda, Mezoued said President Abdelmadjid Tebboune’s administration had continued to pursue economic reforms, diversification and national development under its New Algeria vision.
He noted that the country was recording progress in non-hydrocarbon exports, while improvements in the business environment had boosted investor confidence and attracted significant foreign investments.
On foreign policy, the ambassador reaffirmed Algeria’s commitment to non-interference, respect for national sovereignty, peaceful conflict resolution and the right of peoples to self-determination.
Addressing security challenges in the Sahel, he stressed that lasting peace could not be achieved through military measures alone, insisting that economic development, inclusive dialogue and peaceful resolution of disputes remained essential.
Turning to Nigeria-Algeria relations, Mezoued described the partnership as one founded on shared values and the commitment of both countries’ leaders to advancing African development.
He identified the Trans-Saharan Highway, Trans-Saharan Gas Pipeline and Trans-Saharan Fibre Optic Backbone as major strategic projects receiving attention from both countries.
The ambassador also disclosed that Algeria had continued to provide scholarships to Nigerian students to strengthen human capital development and capacity building.
He further announced that Air Algérie expanded its Nigerian operations on October 26, 2026, with the introduction of two weekly flights to Lagos, expressing confidence that the service would boost trade and tourism.
Looking ahead, Mezoued said 2027 would offer fresh opportunities to deepen bilateral cooperation, particularly through the fifth Joint High Bi-National Commission scheduled to hold in Abuja.
He expressed optimism that the meeting would provide an opportunity to assess existing partnerships, identify new areas of cooperation and move Nigeria-Algeria relations towards a more practical and results-driven phase.
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