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 Minister of Finance, Mr. Wale Edun, revealed that the Federation Account has experienced an enhanced revenue inflow exceeding N1 trillion since the removal of subsidies. Edun conveyed this information during a four-day retreat for members of the Federation Account Allocation Committee (FAAC) held in Asaba on Monday. Represented by the Permanent Secretary, Finance, Special […]
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, disclosed on Friday the government’s intention to provide a detailed account of revenue disbursed to state governments post the removal of fuel subsidy. This plan, facilitated through a memorandum of understanding, aims to highlight the projects and interventions carried out by […]
The Federal Government has reported savings of approximately ₦1.45 trillion between June and September following the removal of the subsidy on Premium Motor Spirit, commonly known as petrol. FAAC allocation documents from the Nigeria Governors Forum and National Bureau of Statistics indicate a monthly remittance to the Non-Oil Revenue (Savings) account, with June receiving ₦696.93bn, […]
Research has shed light on the intricate dynamics surrounding the removal and return of fuel subsidies in Nigeria. Despite official claims by the Nigerian government of subsidy removal, evidence suggests that it has covertly reinstated the practice in recent times. Reports indicate that in August, the federal government allocated over 160 billion naira to stabilize […]
Niger State Governor, Mohammed Bago, has ordered that there’ll be free transportation of government school pupils within the state. This measure, the governor said, is to help ensure that learners have easy access to education, amidst the removal of fuel subsidy by the President Tinubu administration. The governor said, “The free transportation for the children […]
President Bola Tinubu has admitted that the recent removal of fuel subsidy has imposed hardship on the general public. Tinubu said in his maiden Democracy Day address to Nigerians on Monday that though he feels the pain on the masses, there is a need for them to sacrifice more for the betterment of the entire […]
The rise in the price of petrol has reduced the level of patronage at filling stations as Nigerians grapple with the ripple effects of the government’s decision on fuel subsidy removal. Checks by our correspondents on Wednesday revealed that due to the N537 new pump price of fuel introduced by the Nigerian National Petroleum Corporation […]
Major Oil marketers have announced their intention to donate to 100 fifty-seater mass transit buses that would run on CNG. Each will cost N100m and it cushion the effect of fuel removal within the next 30 days. They made this known after meeting President Bola Ahmad Tinubu today!