President Bola Ahmed Tinubu has said the removal of fuel subsidy by his administration saved the country from imminent bankruptcy and laid the foundation for the gradual recovery of the nation’s economy. He spoke on Friday when he hosted state governors who came to celebrate with him the Sallah...
fuel subsidy
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against Nigeria’s governors and the Minister of the Federal Capital Territory, Abuja, Mr Nyesom Wike “over their failure to account for the spending of the N14trn fuel subsidy savings they collected from Federation Account Allocation Committee (FAAC) allocations, including...
The member representing Askira- Uba/ Hawul Federal Constituency in Borno State, Hon. Dr Midala Balami has called for a thorough investigation over the brewing dispute between Dangote Refinery and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Speaking to Journalists in Maiduguri after Tuesday plenary where the Lawmaker...
Minister of the Federal Capital Territory, FCT, Nyesom Wike, on Thursday said President Bola Tinubu took a bold decision in removing the fuel subsidy. Wike noted that, despite initial public outcry over the decision, conditions have begun to stabilise. He made the remarks while delivering the keynote address at...
Socio-Economic Rights and Accountability Project (SERAP) has issued a strong warning to Nigeria’s 36 state governors and the Minister of the Federal Capital Territory (FCT), Mr. Nyesom Wike, demanding they publicly account for the estimated N14 trillion in fuel subsidy savings received through FAAC allocations — or face legal...
In circumstances like Nigeria, where economic challenges and living costs are already weighing heavily on many people, yet the administration’s economic experts aren’t fully considering the impact on citizens. Talking straight without sugarcoating, for citizens, the past two years of the administration have been a tough struggle for survival,...
At least 22 people have lost their lives in violent protests against a significant fuel price increase in Angola, the government has confirmed. The protests, which began on Monday, have spread across the country, with demonstrators clashing with security forces in several locations, including the capital Luanda. The government...
By EZEKIEL OBI, Abuja- President of Dangote Group, Alhaji Aliko Dangote, has expressed concern over Africa’s reliance on importing over 120 million tonnes of refined fuel annually despite its vast crude oil production. Speaking at the inaugural West African Refined Fuel Conference in Abuja on Tuesday, hosted by the...
An Ikeja Special Offences Court on Tuesday sentenced Mamman Ali and Christian Taylor to 14 years’ imprisonment each over a N2.2 billion oil subsidy fraud. Ali, son of a former National Chairman of the Peoples Democratic Party (PDP), Ahmadu Ali, and Taylor were charged by the Economic and Financial...
Energy expert, Dr Ayodele Oni, says the removal of fuel subsidies in Nigeria has had a significant impact on the country’s economy. Oni, a partner at Bloomfield Law Firm, made the assertion in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. According to him,...
Many residents of the Federal Capital Territory (FCT), have continued to lament about the harsh economic policies which they say is impacting their livelihoods negatively. . They spoke to the News Agency of Nigeria (NAN) on Sunday in Abuja. NAN reports that Nigerians have been expressing discontent over the...
The National Chairman of the Social Democratic Party (SDP), Shehu Gabam, says the economic policies of President Bola Tinubu may be his greatest undoing if he tries to be reelected in 2027. Gabam listed some of the unpopular policies of the Tinubu administration including the sudden removal of petrol...
A Peoples Democratic Party (PDP) Chieftain, Sen. Nicholas Tofowomo, has urged President Bola Tinubu to allow local government autonomy and the country’s refineries to function properly before introducing the new tax reforms. The News Agency of Nigeria (NAN) reports that the president had, in October 2024, presented four Tax...
President Bola Tinubu on Monday said he had no regret removing fuel subsidy. The president, who stated this during his first media chat, said fuel subsidy removal was necessary to prevent the country from bankruptcy. The News Agency of Nigeria NAN reports that Tinubu had, during his inauguration as...
By BARBARA KALU, Port-Harcourt – The Nigerian National Petroleum Company (NNPC) Ltd. has fulfilled its pledge of re-streaming the Port Harcourt Refining Company (PHRC), signaling the commencement of crude oil processing from the plant and delivery of petroleum products into the market. On Tuesday, trucks began loading petroleum products...
Chairman, Senate Committee on Finance, Sani Musa, has said more mitigating measures are needed to be put in place to cushion effects of subsidy removal. Musa made the call in a statement on Sunday to clarify his support for subsidy removal and commitment to addressing citizens’ concerns. According to...
The Governor of Anambra State, Prof. Chukwuma Soludo, has stated that Nigeria is undergoing a fundamental and disruptive reset with the removal of subsidies by President Bola Tinubu. Soludo made this remark during Veritas University’s 13th Convocation Lecture in Abuja on Thursday. The lecture, titled ‘Let Us Make a...
By EZEKIEL OBI, Abuja – The Nigerian Coalition of Civil Society Organizations (NICOCSO) has called for immediate probe of cabals insisting on importation on pms and sabotaging local refineries. The National Spokesperson of NICOCSO, Comrade Segun Adebayo, made the call during a press conference on Wednesday in Abuja. Comrade Adebayo...
The Independent Petroleum Marketers Association Of Nigeria (IPMAN) has attributed the recent adjustment in the price of premium motor spirit better known as fuel to the impacts of the deregulation of the sector. “Well, we know now that we cannot call it an increase but rather we can call...