A midst apprehension in the country, the Federal Government has assured that there will be no removal of fuel subsidy by the President Muhammadu Buhari administration.
Minister of State for Petroleum Resources, Chief Timipre Sylva, who disclosed this yesterday at a budget defence session with...
Yesterday, news filtered into the mainstream media that the Federal Government spent a whooping sum of N650.1 billion (US$1.8 billion) on subsidizing petrol consumption between April 2018 and March 2019.
According to the media sources, the statistics were obtained from the Nigerian National …...
THE nation’s fuel subsidy was mainly targeted at supporting poor individuals, households and other stakeholders to meet their fuel needs, thus enabling them to contribute towards the development of Nigeria’s economy.
The post How FG fuel subsidy reforms affect Nigeria’s economy appeared first...
The Nigerian National Petroleum Corporation (NNPC) Monday in Abuja revealed that the Nigerian Federation was indebted to the corporation to the tune of N170.6 billion outstanding subsidy payments due from January 2006 to December, 2015. Kachikwu Leading a team of Top Management of the NNPC to...
The Nigeria National Petroleum Corporation, NNPC, has explained why it pays ‘subsidy’ on petrol without appropriation from the National Assembly.
Managing Director of the Petroleum Products Marketing Company, PPMC, an NNPC arm, Umar Ajiya, said the NNPC Act is a law on its own which the...
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Payment illegal, says Senate •Commences probe From Fred Itua, Abuja A report submitted by the Senate Committee on Petroleum Resources (Downstream), yesterday, indicated that the Federal Government wasted a total of N784 billion on what it called fraudulent practices in the import of petroleum...
The House of Representatives on Tuesday summoned the Minister of State for Petroleum Resources, Ibe Kachikwu, over the reported payment of fuel subsidy by the Nigerian National Petroleum Commission, NNPC. Also summoned were the Group Managing Director of the corporation, Maikanti Baru, and the...
THE Nigerian National Petroleum Corporation, NNPC, has spent N112.079 billion on fuel subsidy in the first 10 months of 2017, between January and October 2017, financial documents obtained from the corporation have revealed. Dr Maikati Baru,Group Managing Director of the NNPC Contrary to claims...
Rewane seeks clarification By Adewale Sanyaolu and Fred Itua, Abuja Strong indications have emerged that the Federal Government may soon resume the payment of petrol subsidy before mid 2018. Although it is still unclear when this will happen, findings by Daily Sun revealed that the outcome of...
The Federal Government has resorted to subsidy regime following an increase in the landing cost of Premium Motor Spirit, also known as petrol.
This is coming about eight months after the Muhammadu Buhari-led regime stopped the fuel subsidy, which was costing the government millions of naira...
A Lagos High Court in Lagos today convicted Walter Wagbatsoma, Adaoha Ugo-Nnadi, and their company Ontario Oil and Gas on an eight count amended charge of fuel subsidy fraud.
There were eight count charges against them and they were found guilty of all on Friday, January 13.
The Economic and Financial Crimes Commission, EFCC, has reopened investigations into alleged N10.9 billion 2011 subsidy scam.
The commission, it was gathered, has already investigated some key officials of the IPMAN Investment Company Limited, a company incorporated by some independent...
Grieved by the recent hike in the pump price of fuel from N86.50 to N145, the National Association of Nigeria Students, NANS, zone B, yesterday threatened to shutdown all tertiary institutions in the zone comprising 11 states today (Friday) in protest against the decision of the President...
nans shuts down universities over fuel hike
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National Leader of the All Progressives Congress, APC, and former governor of Lagos State, Asiwaju Bola Tinubu, has described former president Goodluck Jonathan’s Sure-P programme as a monumental fraud which only objective was to siphon public funds into the pockets of its architects.
The nationwide strike embarked on by the Nigerian Labour Congress, gained success in Taraba state as all ministries in the state and public schools were closed.
Both academic and non-academic staffs of Taraba State University complied with the industrial action in support of the reversal of...
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There is a saying that goes: ‘When two elephants fight, it is the grass that suffers’. This saying that has been used to characterize the carnage borne from the combat of two or more powerful forces cannot be over emphasized as regards the current happenings and the current state of the nation...
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