• “Buhari’s naira design was different from Emefiele’s design,” ex-acting CBN governor says
• Nigerians fear another fuel scarcity as NNPCL closes its petrol purchase portal
• State governors delay implementation of local government autonomy
• FG removed VAT on CNG, cooking gas and diesel
• Fubara declares public holiday on Thursday and Friday over LG elections

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

“Buhari’s naira design was different from Emefiele’s design,” ex-acting CBN governor says

The previous acting-Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, a witness in the trial of disgraced CBN governor Godwin Emefiele, has come out to reveal the truth about the naira redesign.

According to Shonubi, the redesigned naira notes created under Godwin’s administration in the CBN were not the same as the ones approved by ex-President Muhammadu Buhari.

He claimed that the memo presented to President Buhari at the time was done entirely by Emefiele, and the procedure was ingenuine and lacked clarity.

“The CBN did not follow the procedures (for redesigning the currency). I was a member of the CBN Board as Deputy Governor,” he said.

Nigerians fear another fuel scarcity as NNPCL closes its petrol purchase portal

The Nigerian National Petroleum Company Limited (NNPCL) has allegedly shut down its purchase portal, leaving petrol marketers complaining about the sudden action and the reasons behind it.

The closure of the petrol purchase portal has left many petrol marketers unable to apply for the purchase of fuel, which could lead to product scarcity in Nigeria.

According to Chinedu Ukadike, the spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), there are over 2,000 pending tickets for the purchase of 45,000 litres each.

State governors delay implementation of local government autonomy 

State governors in Nigeria have initiated a new bid to delay the implementation of the Supreme Court’s granting of financial autonomy to local governments.

The governors are allegedly pressuring high federal officials to slow down the speed of the LGA autonomy implementation since the Supreme Court ruled that it was illegal and unconstitutional for state governors to hold power over the local government funds.

The Supreme Court made the LGA autonomy judgement in July 2024, and simultaneously, the federal government created a 10-member inter-ministerial committee to implement and ensure the establishment of the Court’s policy.

FG removed VAT on CNG, cooking gas and diesel

The federal government has removed Value Added Tax (VAT), Compressed Natural Gas (CNG), cooking gas, diesel and electric vehicles.

This announcement is due to the FG’s attempt to reduce the cost of doing business and improve the cost of living, which has surged without explanation in the country.

Adding to the initiative, the FG has also stated that starting from January 2025, small businesses will no longer be expected to pay taxes to boost the economy and create more employment opportunities.

Fubara declares public holiday on Thursday and Friday over LG elections

The governor of Rivers State, Siminalayi Fubara, has declared a two-day (October 3 and 4) public holiday over the local government elections set to occur on Saturday, October 5.

The governor released a broadcast message to the residents in the state, asking that they all forgo their political apathy and instead come out to show support for their favourites who would need their votes.

He stated that there would be no vehicular and human movement within and out of the state from Friday midnight until the election is over. Still, there would be exceptions for people involved in election duties.