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Tag: fuel subsidy

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
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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 […]

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.   […]

Queues return as IPMAN opposes Tinubu subsidy removal
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Queues return as IPMAN opposes Tinubu subsidy removal

  President Bola Tinubu’s plan to execute his predecessor’s decision to withdraw fuel subsidy by the end of June has been met with opposition from the Independent Petroleum Marketers Association of Nigeria. AM Business on Monday reported that Tinubu said in Abuja that his government would end petroleum subsidy payments. He argued that the Federal […]

Fuel subsidy is gone, Tinubu tells Nigerians
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Fuel subsidy is gone, Tinubu tells Nigerians

Fuel subsidy is gone, says Tinubu President, Bola Tinubu has stated that there will be no more fuel subsidy in Nigeria. He stated this during his official inauguration speech after his swearing in at the Eagle’s Square, Abuja on Monday. “The fuel Subsidy is gone. It is unjustifiable…..we shall rechannel the funds to education and […]