Undaunted by criticisms of the economic policies of his administration, President Bola Tinubu has justified the removal of the fuel subsidy and the unification of the exchange rate. The president who rated the nation’s economy before his ascension of power in May 2023 as dying commended the two policies as necessary steps to avert an […]
By Samuel Luka A renowned Prophet and teacher of God’s words, Abraham Adebayo has charged the President Bola Ahmed Tinubu’s led Federal Government and other leaders to urgently come up with practical measures and policies that would cushion the effects of fuel subsidy removal on the people who are suffering from hunger and afflictions across […]
By Haruna Salami The Senator representing Benue North East, Emmanuel Udende has said he is a firm believer in the fuel subsidy removal by President Bola Tinubu describing the exercise as “a scam”. Speaking with Daily Times on the topic, which has brought a lot of hardship on Nigerians, Udende said the people that benefit […]
…days removal aimed at curbing corruption in oil industry By Tunde Opalana As part of strategic measures to cushion the effects of the recent oil subsidy removal , the Federal Government is set to review salaries of workers in public sector. President of the Senate, Godswill Akpabio gave the assurance while receiving in courtesy, the […]
By the time President Bola Ahmed Tinubu reiterated, in his Inauguration Speech on Monday, May 29, 2023, that the end has come to Nigeria’s longstanding subsidy regime, it had become clear that it truly was time to close that chapter for good. To its credit, the Administration of former President Muhammadu Buhari had already set […]
By Tom Okpe The House of Representatives Special Committee investigating fuel subsidy Payment has summoned the Auditor General of the Federation (AuGF) to appear before it to provide documentary evidences on audit report carried out on funds used by the Nigerian National Petroleum Corporation, (NNPC) Ltd for subsidy Payment between 2013 and 2022. The Committee […]
The Federal Government says it will take care of petrol subsidy in the first six months of 2022. Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this at a panel session during the ongoing Nigerian Economic Summit (NES#27) in Abuja. She said the Federal Government had made provision for petrol subsidy till the […]
Dethroned Emir of Kano, Muhammadu Sanusi II, has said current measures being implemented by the federal government to stabilise the economy are critical as the nation’s economy had huge pre-existing conditions before the COVID-19 pandemic set in. READ ALSO: Lamido Sanusi is still under investigation, Ganduje speaks on the deposed Emir The former CBN Governor, on […]
By Tunde Shorunke Not less than ₦10 trillion has been spent by the Federal Government on subsidising Premium Motor Spirit (PMS) in the past 12 years. In an exclusive telephone conversation with Daily Times, the Executive Secretary of Major Oil Marketers Association of Nigeria (MOMAN), Clement Isong, said that the decision to deregulate was founded […]
Former Vice President of Nigeria, Mr Atiku Abubakar has said that the government of former President Olusegun Obasanjo started the phased subsidy withdrawal and that the then Nigerian Labour Congresses (NLC) Chiarman, foremer governor of Edo State and current All Progressives Congress national chairman Mr. Adams Oshiomhole stood strongly against the subsidy removal. Atiku in […]
Minister of State for Petroleum, Chief Timipre Sylva, on Thursday, assured that the Federal Government has no plan to remove fuel subsidy for now. The minister made this known while fielding questions from the joint Senate and House of Representatives Committee on Petroleum (Downstream) held at the National Assembly in Abuja. “This government is not […]
The debate on the propriety or otherwise of removing oil subsidy from budgetary allocations in Nigeria continues to generate a lot of commentary from among Nigerians and interested observers of happenings in the country in recent times with no consensus on how best to address the issue without jeopardizing the cost of existence of the […]
Depot and Petroleum Products Marketers Association (DAPPMA) on Sunday said the unpaid subsidy arrears of over N650 billion by the Federal Government poses huge financial challenges to the downstream operations. DAPPMA Executive Secretary, Mr Olufemi Adewole, told newsmen in Lagos that the settlement of the debts owed them would save their assets from being taken […]
* We’ll continue to expose corruption – Saraki Senate President, Dr. Bukola Saraki, has said the National Assembly will continue to expose corruption in the petroleum sector irrespective of the status of those involved in the act. The development came just as the Nigerian National Petroleum Corporation (NNPC) has disclosed that the federal government is […]
The Senate on Tuesday hinted that it may sanction the probe of the Nigerian National Petroleum Corporation (NNPC), over claims that it mismanaged about N5.1 trillion it got as subsidy funds between 2006 and 2015. The Senate decided to look into the N5.1 trillion collected as subsidy for petroleum products by the Nigerian National Petroleum […]
Regrettable as the pains suffered by Nigerians more than one week now due to the scarcity of Premium Motor Spirit (PMS) otherwise called petrol, one clear fact that has emerged is that until the massive importation of the product is eliminated and the nation’s refining capacity enhanced through revamping existing refineries and building of new […]