fuel subsidy

The former President of the Society of Petroleum Engineers, Joe Uwakwue, revealed that the Tinubu Administration is still paying fuel subsidies, proposing a significant increase in the pump price of Premium Motor Spirit (PMS) to N925 per liter. Uwakwue's statement implies that despite the...

During the Stanbic IBTC Energy and Infrastructure Breakfast Session in Lagos, Gabriel Ogbechie, CEO of Rainoil Limited, disclosed that the federal government has covertly resumed paying the contentious fuel subsidy. Ogbechie highlighted the impact of the Naira's devaluation on the foreign...

Former Kaduna State Governor, Mallam Nasir El-Rufai, has made startling allegations, claiming that the Bola Tinubu-led Federal Government is subsidizing Nigerians' fuel. Addressing journalists in Maiduguri, El-Rufai asserted that the government is now paying more for fuel subsidies than before...

Former Governor of Bauchi State, Isa Yuguda, has contradicted the federal government's claims, stating that subsidy payments on petroleum products are still ongoing. Despite President Bola Tinubu's 2022 announcement that "The fuel subsidy is gone," Yuguda claims that subsidies persist, raising...

In the wake of the International Monetary Fund's (IMF) recommendation for the Nigerian government to eliminate electricity subsidies, a wave of diverse reactions has swept across the nation. Citizens, taking to social media platforms, have expressed a range of sentiments reflecting skepticism...

In the face of persistent economic challenges and the ongoing struggle of Nigerians, the International Monetary Fund (IMF) has strongly urged the Federal Government to eliminate subsidies on fuel and electricity. The IMF argues that these subsidies, considered costly and ineffective, should be...

In a recent statement titled 'Atiku Abubakar and his new hobby,' Bayo Onanuga, the Special Adviser to the President on Information and Strategy, refuted claims made by former Vice President Atiku Abubakar regarding the impact of President Tinubu's economic policies. Atiku had criticized the...

After the announcement of the end of the petrol subsidy regime by President Bola Tinubu in May 2023, Femi Gbajabiamila, Chief of Staff to the President, asserts that Nigerians and top presidential candidates had collectively agreed on the subsidy's removal. Speaking after the Surulere 1...

In response to recent media reports suggesting a potential surge in petrol prices to N1,200/litre, the Nigerian National Petroleum Company (NNPC) has moved to allay public concerns. Chief Corporate Communications Officer Olufemi Soneye stated unequivocally on Wednesday that there are no...

The Nigerian National Petroleum Company Limited (NNPCL) and fuel marketers, represented by the Independent Petroleum Marketers Association of Nigeria, are entangled in a new dispute over the removal of petrol subsidies. The clash comes amidst the depreciation of the naira against the U.S...

The Nigerian National Petroleum Company Limited (NNPCL) has commenced the supply of crude oil for the test-running phase of the Port Harcourt Refining Company Limited, marking a significant step in the nation's energy landscape. Oil marketers confirm that the refinery is expected to supply...

Amidst the enduring impact of the fuel subsidy removal, Nigerians are now confronted with the specter of an impending electricity tariff increase scheduled to commence on January 1, 2024. Reports indicate that officials from Nigeria's Electricity Distribution Companies (DisCos) convened in a...

President Buhari surprisingly welcomes the fuel price hike, expressing relief as it has led to a decline in home visits. The statement raises eyebrows about the unique perspective on the matter. Watch Video here:

In a televised interview on Channels TV, Minister of Information and National Orientation, Mohammed Idris, emphatically dismissed the recent assertion by the World Bank that the Federal Government continues to pay subsidy on petrol. According to the minister, President Bola Tinubu had made it...

Nigeria's inflation rate for September surged to 26.72%, marking a substantial 0.92% increase compared to the previous month's 25.80%. This data is sourced from the recently released Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS). The steep rise in inflation can be...

Despite President Bola Ahmed Tinubu's assurances that the subsidy had been abolished, revelations surrounding the Federal Government's payment of N169.4 billion in subsidy in August have ignited controversy and skepticism. This development challenges the narrative of subsidy removal and prompts...