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Subsidy: NNPCL alleged new price template goes viral
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Subsidy: NNPCL alleged new price template goes viral

  The Nigerian National Petroleum Company Limited has increased petrol pump prices by more than 200 percent, putting the cost of fuel to between N488 and N557 per litre. According to a copy of a revised pricing template allegedly issued to oil merchants late yesterday by the NNPCL management, the new price adjustment was to […]

NEITI to release old data, says global body
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Nigeria spent $74bn on fuel subsidies 16 years – NEITI

The Nigeria Extractive Industries Transparency Initiative has revealed that Nigeria spent $74.39 billion, or N13.69 trillion, on fuel subsidies between 2005 and 2021. According to Nairametrics, they commended President Bola Tinubu’s subsidy removal, stating that it is a good thing as they urged him to put the conclusions and suggestions from the NEITI reports into practice. This information was […]

United Capital endorses CBN's stakeholder partnership
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Why banks’ borrowings from CBN keep increasing – Report

CBN findings have revealed that banks’ borrowings from the apex bank, which had decreased month over month in February of this year by 14%, abruptly skyrocketed by 775 percent to N3.97 trillion in March before falling by 45.8 percent to N2.15 trillion in April. According to Vanguard, the information also revealed that bank deposits under […]

Why FG should reveal names of subsidy beneficiaries - NLC
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Fuel subsidy: FG to meet NLC on Wednesday

Juliet Buna Representatives of the Federal Government are expected to meet with the Nigeria Labour Congress today by 2 pm over the planned removal of fuel subsidy. The NLC National President, Joe Ajaero, made the disclosure during an interview with Channels Television on Wednesday morning President Bola Tinubu had declared that there would no longer […]

Petrol queues surface in Lagos, Abuja after Tinubu's subsidy announcement
Opinion

Subsidy: Tinubu started on a wrong foot, says rights group

The Committee for Defence of Human Rights has said the President, Bola Ahmed Tinubu, started on a very wrong footing by announcing the removal of fuel subsidy during his Inauguration.   It, therefore, urged Tinubu to commence the full implementation of policies and programmes already put in place by the previous administration, so as to […]

NMDPRA calls for calm amid PMS subsidy removal
Oil and Gas

NMDPRA calls for calm amid PMS subsidy removal

Juliet Buna The Nigerian Midstream and Downstream Petroleum Regulatory Authority on Tuesday assured of an adequate supply of PMS to meet the demand of consumers. This is coming after President Bola Tinubu on Monday declared the removal of fuel subsidy. The NMDPRA in a statement signed by its General Manager of corporate communications Kimchi Apollo […]

HURIWA criticizes NBS over unemployment data
News

HURIWA knocks Tinubu over subsidy removal

The Human Rights Writers Association of Nigeria has denounced Tinubu’s declaration to eliminate fuel subsidy, saying it is autocratic and unlawful. Arise News reported that the national coordinator of HURIWA, Emmanuel Onwubiko, criticized the decision to end fuel subsidies in a statement as being careless, foolish, and insensitive. The rights organization asked the labor movement and civil rights […]

Unified exchange rate'll help telecom sector - ATCON
Telecommunications

Unified exchange rate’ll help telecom sector – ATCON

The proposed unified exchange rate by President Bola Tinubu has been hailed by the Association of Telecommunications Companies of Nigeria as a development that will benefit the telecom sector. The ATCON Executive Secretary, Mr. Ajibola Olude, said that if implemented, a single exchange rate would make it easier for telecom companies to get foreign currency as […]

NASCON announces 84% increase in profit - Report
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NASCON announces 84% increase in profit – Report

All performance metrics for NASCON Allied Industries Plc have shown outstanding growth in the year 2022, as the company’s earnings after taxes increased by 84 percent, from N2.97 billion to N5.47 billion. Independent News reported that at the company’s 2022 annual general meeting which was conducted over the weekend in Lagos, shareholders praised the board and management of NASCON for […]

Four consortia to repair deteriorated pipelines - NNPCL
Oil and Gas

Fuel subsidy: NNPCL cautions against panic-buying

The Nigerian National Petroleum Company Limited has stated that prospective increases in petrol prices are insufficient justification for Nigerians to indulge in panic-buying.. According to Nairametrics, the Group Chief Executive Officer of the NNPCL, Mele Kyari, made this statement to the press on Monday. He claimed that the NNPCL is present to make sure that there is […]

Buhari's finance minister confident Nigeria can service N47tn debt
News

Buhari’s finance minister confident Nigeria can service N47tn debt

  The former Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has stated that Nigeria can still service its N46trn debt. According to The PUNCH, she stated this while speaking at her valedictory ceremony in Abuja. “Despite revenue challenges, government consistently met its debt service commitments, while post-financing assessments showed adequate capacity to […]

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