Just another News Updates
The Federal Government has officially ended subsidies on fuel and foreign exchange, according to an announcement made by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Thursday. Speaking at the presentation of the Nigeria Development Update by the World Bank in Abuja, Edun explained that the subsidies had drained the […]
The origins of Nigeria’s controversial fuel subsidy system have been traced to the administrations of former military Heads of State, General Yakubu Gowon and General Olusegun Obasanjo, according to the Independent Media and Policy Initiative (IMPI). IMPI has claimed that the subsidy was introduced during a period of economic prosperity as a short-term measure to […]
Former Vice President Atiku Abubakar has once again taken aim at President Bola Tinubu’s administration, this time over the continued payment of subsidies on Premium Motor Spirit (PMS). The criticism follows Tinubu’s recent approval of the Nigerian National Petroleum Company Limited’s (NNPCL) request to utilize the 2023 dividends due to the federation for subsidizing petrol. […]
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has clarified that it has not paid any fuel subsidy in the last nine months. This statement was made by the company’s Chief Financial Officer, Alhaji Umar Ajiya, during a press briefing on Monday in Abuja. Ajiya explained that while NNPC Ltd. has been managing the shortfall […]
Bayo Onanuga, the special adviser to the president on information and strategy, has defended President Bola Tinubu’s decision to remove the petrol subsidy on the day of his inauguration, stating that it was in the best interest of Nigerians. According to Onanuga, Nigeria was facing serious financial difficulties, prompting Tinubu to act swiftly before the […]
Kwara State governor, AbdulRahman AbdulRazaq, has approved the deployment of government buses to support movement of students and workers in public tertiary institutions within Ilorin, the capital city, and its environs. The bus palliative for the students covering the metropolis was the second phase in the measures by the Kwara State government to cushion the […]
The Federal Government has said talks with organized Labour regarding the fuel subsidy removal will be concluded on Tuesday. Dele Alake, spokesman on behalf of the Federal Government, told State House correspondents after a meeting between the government side and Trade Union Congress (TUC) at the Presidential Villa, Abuja, on Sunday. Recall that the meeting […]
The group chief executive officer (GCEO) of Nigeria National Petroleum Company Limited (NNPCL), Mele Kyari, has disclosed that President Bola Tinubu has ordered the putting in place of palliatives to cushion the effect of removal of fuel subsidy on Nigerians. He also insisted that there was no going back on subsidy removal, as it was […]
His Excellency Alhaji Abba Kabir Yusif, the governor of Kano state, has urged petroleum marketers to reinstate the previous prices for petroleum goods in order to lessen the current hardship experienced by the general public. The governor said he is aware that the marketers still had old products in stock that were supposed to be […]
The Group Chief Executive Officer, Nigerian National Petroleum Company Limited, Mele Kyari, on Thursday, allayed the fear of Nigerians on the rising prices of Premium Motor Spirit, known better as petrol across the country. The NNPC boss said competition among major players in the oil sector would force down the price of petrol as against […]