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Tag: fuel subsidy

BREAKING: NNPCL confirms new petrol pump price increase
Policy and Regulations

Subsidy: Fuel prices will drop naturally, says NNPCL boss

By Wilson Adekumola   The Group Chief Executive Officer, of the Nigeria National Petroleum Company Limited, Mr. Mele Kyari, has disclosed that the removal of fuel subsidy would encourage more competitors wherefore, naturally reduce the current price of Premium Motor Spirit, also known as petrol.   Kyari made this disclosure while featuring on Arise TV’s […]

NLC rejects new petrol pump prices
News

NLC rejects new petrol pump prices

The Nigeria Labour Congress has rejected the Nigerian National Petroleum Corporation Limited’s revised pump price for petrol. According to the Daily Trust, the NNPCL has instructed all of its stores to sell petrol for between N480 and N570 per litre. The price change, according to NNPC Ltd.’s Chief Corporate Communications Officer, Garba Deen Muhammad, was decided to […]

Fuel subsidy is gone, Tinubu tells Nigerians
Opinion

Subsidy: Tinubu brought Nigerians tears, sorrow, says NLC boss

Alex Omenye   The president of the Nigerian Labour Congress, Comrade Joe Ajaero has described as insensitive the removal of fuel subsidy by President Bola Tinubu.   “By his insensitive decision, President Tinubu on his inauguration day brought tears and sorrow to millions of Nigerians instead of hope. He equally devalued the quality of their […]

Subsidy: NNPCL alleged new price template goes viral
News

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
featured

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 […]

Why FG should reveal names of subsidy beneficiaries - NLC
featured

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 […]

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 […]

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

Subsidy removal: IPMAN blames panic-buying for resurgence of queues

The Independent Petroleum Marketers Association of Nigeria has attributed the sudden resurgence of queues at petrol stations in parts of the country to panic-buying.   PUNCH Metro had on Monday reported that queues for petrol resurfaced in parts of the country shortly after the President, Bola Ahmed Tinubu, announced the cancellation of petrol subsidy.   […]

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