Our Disappearing Currency Denominations

 By Adekunle Adekoya

Many Nigerians may not know it, but one of the issues at the root of our current economic hardship is that certain denominations of our currency have become utterly worthless. 

For the younger generation who may not know, our currency was formerly denominated as pounds, shillings, and pence, since the colonial times till well after independence.

Then, there were the £5, £1, 10/- (10 shillings), two and half shillings, one shilling, six pence, three pence, one penny and half-penny denominations. From two shillings were coins. The two and half shillings coin was called a guinea.

Our Unusual Electricity Industry

 By Adekunle Adekoya

Our country, Nigeria, is a wonderful one. In fact, there is no other country like ours on the face of this earth. What works seamlessly elsewhere is like rocket science here, and vice-versa. For many years, we imported what we have and have tried to export what we don’t have.

The unusualness of Nigeria reared its head a few days ago when the Nigeria Electricity Regulatory Commission, NERC, published data on the state of affairs in our electricity industry.

The data, in part, revealed that revenue accruing to the electricity distribution companies, called DISCOs, soared by 666% in 10 yrs, while electricity supply grew just 32% within the same period. Properly spelt, the data showed that DISCOs’ revenue rose from N302.93 billion in 2016 to N2.3188 trillion in 2025, an increase of about 666 per cent.

Disservice, Impunity, Dysfunction And Life In Nigeria

 By Adekunle Adekoya

I am sure that not a few people, like me, keep wondering just what is happening in our country. The state of affairs leaves one wondering whether we won’t have to go to outer space to get aliens who may love us enough to run the society for the betterment of all. 

*Tinubu

Of course, it is always easy to blame government, but that is inescapable because fish starts rotting from the head. If the government stinks, then the whole society is undoubtedly a cesspit from which issues forth the most offensive odours.

Living In Denial With Loans And Unimplemented Budgets

 By Adekunle Adekoya

On October 1, the President made a broadcast to the nation about the state of the Nigerian state. In summary, the president said that “reforms are over, foundation laid for prosperity.” The president’s assertions have never been interrogated, except for sporadic attacks from leading opposition figures about specific items.

*Tinubu

I want to ask: What was reformed? As far as I can see, what has been drummed into the ears of Nigerians, and which some multilateral institutions have bought into is the removal of subsidy on fuel energy, namely diesel, petrol, and Jet-A1, and flotation of the Naira. The argument advanced for subsidy removal was that government would conserve resources, increase revenue and have more funds to run the country.

Tinubu’s Disappointing October 1 Message

 By Adekunle Adekoya

Not a few Nigerians, especially me, expected that there would be something to hold on to when the President made his speech commemorating our National Day, October 1, yesterday morning. 

*Tinubu

As a newspaperman, I read the message more than three times, looking for that strand of a message that could give hope that at the end of the tunnel in which we have been thrown, there would be a glimmer of light, signalling hope that things would begin a turnaround for the better.

Alas, like so many other countrymen and women, numbering in scores of millions, it was not to be as the president opted to grandstand on what he thinks are achievements. The same old chorus, now sounding like a broken record, was recited to us — necessity of reforms, NELFUND, Credicorp, and all that. There was no talk about how we would soon pay less for petrol, diesel, cooking gas, or electricity.

Rising Fuel Prices And Insensitivity To The Peoples’ Plight

 By Adekunle Adekoya

Again, I am still on the matter of rising prices of fuel energy, particularly petrol, which is heading towards N1,500, automotive gas oil, AGO or diesel, which is heading towards N2,000, and cooking gas, which is selling at above N22,000 for a 12.5 kilogramme cylinder. That sold for N3,500 BC, Before Change in 2015.

It is trite to begin to repeat how the rising prices of these fuels have inflicted a cost of living crisis on all of us. There are very few Nigerians left who are able to save for the rainy day; almost all of us spend everything we earn on food, transportation, and accommodation.

As Nigerians Battle Compounded Hardship On A Daily Basis

 By Adekunle Adekoya

The last one week has been quite impactful on Nigerians. Just as everyone was figuring how to continue managing fast-disappearing resources as prices of just about everything resumed an upward climb, the price of fuel energy took off from its precarious perch in the stratosphere, and headed for outer space.

*Tinubu

Most of us Nigerians woke up to see filling stations selling petrol at above N1,350 last Monday. Ostensibly, the latest surge in the price of petrol was triggered by tensions in the Middle East, with crude oil selling well above $100 per barrel. What is worse, the price of cooking gas, used by millions of households all over the country jumped well above N1,300 per kilogramme, and in most of Lagos suburbs with bad roads, one kilogramme of gas is selling at about N1,500.

Welfare Of Nigerians And Politics Of Fuel Subsidy

 By Adekunle Adekoya

Again, the matter of fuel subsidy has dominated national discourse in the last few days, with President Bola Tinubu, former vice-president and ADC presidential candidate, Alhaji Atiku Abubakar, NDC presidential candidate Mr Peter Obi and a host of others have had not a little to say about the issue.

The matter was reignited when Alhaji Atiku Abubakar said that if he should be elected, he would return subsidy on fuel energy. Expectedly, presidency officials descended on him, and in the exchanges that followed, harsh, near-uncivil words were used. The exchanges went as far as dredging up the matter of over $16 billion spent on the power sector during the Obasanjo administration. It just shows how deeply the issue of subsidy is affecting lives.

More Government, Less Service, More Hunger

 By Adekunle Adekoya

Just as I was preparing to write this column, news filtered in that President Bola Tinubu has assented to the Nigerian Ports Economic Regulatory Agency (NPERA) Bill, 2026, paving the way for the establishment of a dedicated economic regulator for Nigeria’s port sector.

*Tinubu

The news was sourced from a post on the Facebook page of Dr. Pius Akutah, Executive Secretary/CEO of the Nigerian Shippers Council. The enabling law for this new agency was titled Nigerian Port Economic Regulatory Agency Act, 2026. Meanwhile, in 2014, the Federal Government had designated the Nigerian Shippers’ Council as interim economic regulator of the ports pending enactment of a substantive law.

Presidency-Catholic Bishops Saga: When Defenders Are Attackers

 By Adekunle Adekoya

I really don’t think there is anybody living in this country at the moment that is satisfied with the state of affairs. Don’t let me bore you — everyone knows where it’s pinching hardest — whether in the cost of transportation, or the risen and rising cost of food, or near-unaffordable accommodation, sky-high cost of fuel energy (gas, petrol, diesel), insecurity, etcetira. If there is anybody as yet untouched by these, such a person, or group of persons must be doing things we can’t do, or know not how to do to make money. As a result, people are worried, and perplexed at the state of affairs.

*Tinubu with the Catholic Bishops

This Friday morning, not a few people would have woken up from disturbed sleep caused by an empty stomach, and worse, they can’t even see the prospects for a breakfast, no matter how little. So, when top clerics of the Catholic Church, specifically the Catholic Bishops Conference of Nigeria sought and obtained an audience with the president on this undesirable state of affairs, I think they were doing a duty to seek better options for all of us, irrespective of our diverse faiths.

Economy Improving For Tinubu, Worsening For The People

 By Adekunle Adekoya

Recently, President Bola Ahmed Tinubu received in audience the leadership of the Catholic Bishops’ Conference of Nigeria (CBCN), led by its President, Most Rev. Matthew Ndagoso. The clerics were on what was described as a courtesy visit.

*Tinubu

After remarks by the leader of the delegation, the president responded, and I quote, inter alia:

“I have listened to you carefully, and most importantly, your key areas are security and education. I can tell you categorically with sincerity that the country has been placed on a sound footing. The economy has recovered. The alarm for bankruptcy and dark tunnel of uncertainty that we had when I came in has been changed.

“The spirit of the people is lifting, and the economic turmoil that we feared is cleared. The economy has been delivered from bankruptcy.

“I always say, because of my background and profession, that I inherited the assets and liabilities of my predecessor. I have been running with it. This government has stabilised, and there is prosperity on the horizon. Life is improving,” he stated.

Akara, Kulikuli And Our Disconnection From Reality

 By Adekunle Adekoya

Since last weekend, the internet was literally rent asunder over remarks made by the wife of the President, Senator Oluremi Tinubu. In a video which went viral, the First Lady, in company of other ladies of the realm, was seen advising people, especially womenfolk, to engage in cottage enterprises like frying akara for sale, roasting corn for sale, as well as making cakes from groundnut paste. Cakes made from groundnut paste is what we call kulikuli here.

A seemingly honest-to-God advice, you would say, abi? But many Nigerians thought otherwise. Internet content makers invaded Facebook and Tik-Tok, with skits on akara frying, corn roasting, and kulikuli selling. I saw one, against the backdrop of a London street, where corn was being roasted and kulikuli was on sale, with exhortation to viewers not to take the First lady’s advice lightly, as they would smile to the banks if they take up the enterprise.

Our Electricity Conundrum And The Power Minister’s Apologies

 By Adekunle Adekoya

It was actually very pathetic reading reports of apologies made by Power Minister, Adebayo Adelabu, earlier in the week. Reading his apology nearly made me puke; they were the words of a politician used to, and schooled in, dressing up inefficiencies in mandate actualisation with rhetoric.

For years, since I was a boy (that’s as far back I can remember), this country has struggled with electricity. My late father (Chief Adewale Adekoya, 1933-2017), like millions of others living or dead, hoped many times in his lifetime that the problem would be solved; it didn’t till he passed on. Adelabu’s words: “I want to apologise to Nigerians, officially now, coming from me as the Minister of Power, for this temporary issue that is leading to hardship being experienced, especially during this dry season, where there is so much heat everywhere,” he said. He then went on to remind us about what we all know, and are already suffering.

Misplaced Tears Over Iranian Leaders When Blood Flows In Nigeria

 By Adekunle Adekoya

The war in the Middle East, being fought by the United States and Israel against Iran, is still raging, and its outcomes are being felt all over the world. In the early days of the war which began February 28, Iran’s Supreme Leader, Ayatollah Ali Khamenei, was killed in the aftermath of air strikes on selected targets in Tehran, the Iranian capital. Khamenei’s death occurred as part of a wider joint operation by the United States and Israel, using strategic locations intelligence from the US’s Central Intelligence Agency, CIA, to determine the whereabouts of several Iranian leaders.

Now, Khamenei was not only Iran’s Supereme Leader, he was also acknowledged as the leader of all Shi’a Muslims worldwide. In Nigeria, Shi’a Muslims are organised under a mission called the Islamic Movement of Nigeria, IMN, promoted and led by a cleric, Ibrahim el-Zakzaky.

Security Risks Posed By Okada Riders Govts Are Blind To

 By Adekunle Adekoya

That our nation is challenged on many fronts may be a trite observation; from economic challenges in the form of a cost of living crisis and the growing inability of many Nigerians to afford things they once took for granted to existential threats posed by kidnapping, banditry, insurgency and terrorism, it is obvious that these are not the best of times for Nigeria and Nigerians. Even the rich are also crying.

People say once a problem is known, it is already half-solved. Threats already identified in the economic and security spheres are being dealt with, or ignored as the managers of our affairs see fit, leaving one to wonder why the Nigerian state cannot eradicate the scourge of terrorism from our lands the way a surgeon excises a disturbing growth from the body of a patient.

As Terrorists Gradually Take Over Nigeria…

 By Adekunle Adekoya

What initially began as isolated incidents after the death of Mohammed Yusuf, the late founder of Boko Haram after his death in July 2009 later balooned into full-scale insurgency with which we have struggled to no end for 16 years. Then, the insurgents were trying to establish control over ungoverned spaces in parts of Borno State far from the capital. Later, they grew bolder, started levying taxes on residents, and within a short time, established control.

They became so entrenched that countries of the Lake Chad area had to form a joint security outfit to respond to them. And so we had the Multi-National Joint task Force, the MNJTF, comprising soldiers and other security operatives from Nigeria, Chad and Niger Republic. But they were not deterred. Having secured the backing of international terror organisations like Al-Qaeda, ISWAP and others, terrorists have sustained their onslaught on Nigeria’s territorial sovereignty through repeated attacks on many towns and villages, in Borno and Adamawa.

The Kaduna Abductions And Matters Arising

 By Adekunle Adekoya

Just few days into the new year 2026, peace was, for the umpteenth time, shattered nationwide and in Kaduna State in particular when on Sunday 18 January, more than 170 worshippers were kidnapped in three churches in Kurmin Wali, Kajuru Local Government Area of Kaduna State.

First, we have become so unfortunate with insecurity that we are now used to it, just as we are now used to bad roads, lack of potable water with virtually every building sinking its own borehole. We are also now used to hospitals without doctors and drugs, while generating one’s own electricity is now the norm, rather than the exception. Almost everything people in other countries take for granted we have to suffer for here and mostly, never get.

Nigerians Caught Between New Tax Regime And High Petrol Cost

 By Adekunle Adekoya

Happy New Year to all Nigerians, especially those who read this newspaper and this column. The year that ended about 48 hours ago was one hell of a year, by way of experience, particularly for those of us in Nigeria. On the political front, it was as interesting as ever, what with shameless defections from opposition parties to the ruling party especially by governors and legislators in opposition-controlled states.

*Tinubu and Shettima 

Economically, it was only towards the end of the year that some relief, however palpable, began to manifest, with the price of rice, which is the staple most consumed by Nigerians, coming down. The downside on the dining table was that the cost of protein — eggs, fish and meat — refused to follow rice in the downward journey, thus posing a stiff challenge to many households, majority of whom just cooked the staples, mainly carbohydrates, without the protein to make the diet meaningful for the body. Nevertheless, we survived that.

Between Farouk Ahmed And Bello Matawalle

By Adekunle Adekoya

What amounted to an earthquake occurred in the oil sector in the week ending today. Mallam Farouk Ahmed, Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, fell from his Olympian heights and his resignation from office was suddenly announced after a meeting with the President at the Presidential Villa Wednesday evening. In unclear circumstances, Engr. Gbenga Komolafe, CEO of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, also resigned his job.

*Matawalle 

The earthquake coming from Alhaji Aliko Dangote, President of Dangote Industries and operator of the largest single train refinery in Africa started with tremors on Sunday when Africa’s richest man accused Farouk Ahmed’s NMDPRA of economic sabotage, alleging that regulatory actions were undermining local refining capacity in Nigeria.

Rising air Fares As Threat To National Economy

 By Adekunle Adekoya

Two major ironies are staring Nigeria in the face at the moment, in so far as it concerns air travel. A few days ago,  the Ministry of Aviation and Aerospace Development rolled out the drums to celebrate 100 years of civil aviation in Nigeria. An international air show was organised and held in Abuja, among other events, to commemorate the milestone. It was on November 1, 1925 that the first flight into Nigeria landed in Kano.

It is therefore an irony of developments that citizens of a nation celebrating 100 years of civil aviation can no longer afford to travel by air. It has been in the news for some days now that the cost of air travel tickets to the South-Eastern part of the country, in particular, is hitting an all-time high.