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Tag: fuel subsidy

News

Okonjo-Iweala narrates ordeal with fuel subsidy cabal

The current Director General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala has said that the concept of fuel subsidy removal isn’t new as she narrated her ordeal with a fuel subsidy cabal. According to Vanguard, while she served as the Coordinating Minister of the Economy and Minister of Finance, the removal of fuel subsidies […]

Court upholds NMDPRA's authority to impose statutory taxes
Economy

Subsidy: Why FG won’t fix petrol prices again, NMDPRA reveals

By Wilson Adekumola   The Nigerian Midstream and Downstream Petroleum Regulatory Authority has explained the reasons Federal Government would no longer fix prices or release templates for Premium Motor Spirit popularly known as petrol.   The Authority Chief Executive Mr Farouk Ahmed, made this disclosure while addressing newsmen in Abuja on Friday, noting that in […]

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 […]

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