Muhammad Sanusi II, Emir of Kano and former governor of the Central Bank of Nigeria (CBN), says abolishing the petrol subsidy rescued Nigeria from financial collapse. Speaking on Saturday at the second edition of the Kano International Poetry Festival (KAPFEST), organised by the Poetic Wednesdays Initiative, Sanusi described the subsidy regime as “a ticking time […]
BY SAMI TUNJI Nigeria’s macroeconomic indicators are beginning to show signs of recovery. Reforms such as the removal of fuel subsidy, exchange rate unification, and increased interest rates have garnered praise from global institutions. Yet, beneath the surface of this policy reset lies a harsh reality: the lives of ordinary Nigerians are not getting easier. […]
By Felix Durumbah, Andrew Orolua There is a secret web of plans to ”do in” the President of Nigeria Labour Congress (NLC), Mr. Joe Ajaero, his colleague in Trade Union Congress (TUC), Festus Osifo, and some labour leaders, Daily Times gathered at the weekend. The plans are reportedly being hatched in the nation’s security agencies. […]
…as Uzodinma emerges PGF chair By Tom Okpe National Chairman, All Progressives Congress, (APC) Abdullahi Adamu has said the country was in a very difficult moment now that fuel subsidy has been removed. President Bola Tinubu had in his inaugural speech after taking oath of office on Monday, announced that fuel subsidy had gone and […]
…urges Nigerians to be calm with Tinubu’s administration By Tom Okpe The House of Representatives at plenary on Tuesday, thrown its weight behind decision of President Bola Tinubu to remove fuel subsidy, pleading with Nigerians to be patient with the new administration. This was sequel to the adoption of a motion of urgent public importance, […]
*Says plan will worsen Nigerians’ suffering, trigger crisis The Pentecostal Fellowship of Nigeria (PFN) has called on the Federal Government to shelve the proposed plan to remove fuel subsidy, saying the plan if atualised will worsen the suffering of majority of Nigerians who are already impoverished. PFN president, Bishop Wale Oke, who is also the […]
*Says no provision of monthly transport grant for 40m Nigerians in 2022 budget *Insists fuel subsidy provided for in next year’s Appropriation bill Tunde Opalana, Abuja A day after the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said that the Federal Government will remove fuel subsidy by mid-2022 and replace it with […]
By Isaac Chii Nwaogwugwu In what appears to be an apparent display of arrogance of power and insensitivity to the deplorable conditions of the citizenry the powers that be, on Wednesday, 2nd of September 2020 fired yet another canister of poisonous policy gas on the helpless people who were struggling to grasp with the real […]
Minister of State for Petroleum Resources, Mr Timipre Sylva, says the Federal Government’s decision to fully remove subsidy from petrol will earn the country N1 trillion annually and create numerous jobs. Sylva, who said this on Thursday, while speaking with newsmen in Abuja, said that beginning from October, Nigerians “can now convert cars using petroleum […]
The minister of Information and Culture, Lai Mohammed, has stated that fuel subsidy is unsustainable after 13 years of its budget. Mohammed noted that the federal government has spent N10.413trillion from 2006 to 2019. The minister said this at a briefing on Monday, September 7, in Abuja. He said, “The cost of fuel subsidy is […]
The Buhari Media Organisation (BMO) has described as ludicrous and absurd a statement by the Peoples Democratic Party (PDP) criticising the fuel subsidy regime under the President Muhammadu Buhari-led administration. According to BMO, the subsidy regime and the Nigerian National Petroleum Corporation (NNPC) have never been so open as they are now, and that the state-owned […]
Former Chairman of the House of Representatives ad-hoc Committee that investigated the fuel subsidy regime in 2012, Farouk Lawan, for the third time on Thursday failed to open his defence in his trial for an alleged infraction in the fuel subsidy regime before a Federal Capital Territory High Court, Apo. Lawan, was dragged before Justice […]
Abuja – Farouk Lawan, former Chairman of the House of Representatives Ad-hoc Committee on investigation into fuel subsidy regime, on Thursday in an FCT High Court Apo for the third time failed to open his defence in his trial for an alleged infraction in the fuel subsidy regime. Lawan, former chairman of House Adhoc Committee […]
Mrs Zainab Ahmed, the Minister for Finance, Budget and National Planning says under-recovery of Premium Motor Spirit (PMS), popularly referred to as fuel subsidy will gulp N450 billion in 2020. She said this on Monday in Abuja, at the public presentation of the 2020 budget proposals. Ahmed said it was called ‘under-recovery’ because it was […]
Motolani Oseni Due to the poor performance of Nigeria’s local refineries, not less than N11trillion has been paid for outstanding subsidy claims in the last six years. Chairman, Senate committee on petroleum downstream, Kabir Marafa, on Thursday disclosed that the Senate approved the payment of N129 billion as outstanding subsidy claims to 67 petroleum marketers. […]
The Peoples Democratic Party (PDP) has accused the Federal Government of ‘massive corruption’ amid the controversy over the alleged payment of fuel subsidy. The party made the allegation in a communique issued shortly after the meeting of members of its National Working Committee (NWC) on Sunday in Asaba, the Delta State capital. As fuel scarcity […]
* Summons Kachikwu, Baru, PPPRA boss over fuel subsidy payments * Approves Maritime University The governance aspect of the Petroleum Industry Bill (PIB) that provides for transparency and international best practices was on Wednesday passed by the House of Representatives. The report was laid on Tuesday, before the House by the ad-hoc committee Chairman, Hon […]
Contrary to reports that there was no provision for fuel subsidy in the 2015 budget, the Senate Committee Chairman on Finance, Senator Ahmed Makarfi, on Thursday said Senate approved N143bn for fuel subsidy in the budget. Speaking with newsmen in Abuja, Makarfi also gave an insight into how the nation can effectively address the issue […]
The Nigerian National Petroleum Corporation (NNPC) has advised the Federal Government on the need to stop the payment of subsidy on petrol because it cannot be sustained. Subsidy is the difference between the Expected Open Market Price of fuel and the actual or retail price that is paid by consumers for the product at petrol […]