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OTHERS

Tinubu: Subsidy Is Fraud; You Can't Mention One Person In Whose Account Subsidy Is Being Paid – Sani

A former Senator from Kaduna State, Senator Shehu Sani, has hinted that some elements in power are benefiting from fuel subsidy; as he insisted that it is a fraud because Nigerians only know filling stations but not accounts in which the Federal Government pays fuel subsidy. Sani had said, "Who are these people that are being paid in millions, billions, and now in trillions?

  2 days ago ago
Tinubu: Subsidy Is Fraud; You Can't Mention One Person In Whose Account Subsidy Is Being Paid – Sani

ECONOMY-FINANCE

Opinion: Subsidy Removal: Government Approach Towards a Better Nigeria

What is petrol subsidy? The removal of petrol subsidy in Nigeria refers to the government's decision to end the practice of subsidizing the price of petrol in the country. This move has been a topic of intense debate and controversy in Nigeria, as petrol subsidy has been a longstanding policy in the country.

  11 hours ago ago
Opinion: Subsidy Removal: Government Approach Towards a Better Nigeria

ECONOMY-FINANCE

NMDPRA to stop regulating petrol prices

According to reports, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that it will no longer regulate the prices of petrol. The Chief Executive of the Authority, Mr. Farouk Ahmed, made this statement during a news conference in Abuja. Mr. Ahmed said that the decision to deregulate the petrol market was taken in line with the Petroleum Industry Act (PIA).

  19 hours ago ago
NMDPRA to stop regulating petrol prices

ECONOMY-FINANCE

NNPC Implements Palliatives Following Public Outcry Over Petrol Price Hike

In response to the widespread public outcry over the sudden increase in the pump price of petrol, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari, revealed that President Bola Tinubu has directed the implementation of palliatives to mitigate the impact of the price hike on Nigerians.

  1 day ago ago
NNPC Implements Palliatives Following Public Outcry Over Petrol Price Hike

POLITICS

Today's Headlines: Fayemi Lands In EFCC Custody Over N4bn Fraud, Tinubu Meets Kalu

Fayemi Lands In EFCC Custody Over N4bn Fraud Photo credit: daily trust Operatives of the Economic and Financial Crimes Commission (EFCC) are currently quizzing a former governor of Ekiti State, Kayode Fayemi, over misappropriation of funds to the tune of N4 billion. Our correspondent learnt that Fayemi, also a former Minister of Mines and Steel Development during President Muhammadu Buhari’s first term, was still undergoing interrogation at about 4:15pm on Thursday at Ilorin zonal command of the anti-graft agency.

  1 day ago ago
Today's Headlines: Fayemi Lands In EFCC Custody Over N4bn Fraud, Tinubu Meets Kalu

ECONOMY-FINANCE

NNPC: New Players Will Bring Down Petrol Price-Kyari

PriceNNPC: New Players Will Bring Down Petrol Price Vanguard news reported that the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said that the entry of new players into the retail segment of the petroleum industry will make the price of petrol come down.

  1 day ago ago
NNPC: New Players Will Bring Down Petrol Price-Kyari

ECONOMY-FINANCE

There is a sufficient supply of 1.8 billion liters of petrol, says NNPCL.

June 2, 2023. The Nigerian National Petroleum Company Limited, NNPCL, announced that there is a total of 1.8 billion litres of petrol available, and the fuel queues seen across the country are not expected to last beyond Saturday, June 3rd. The Group Chief Executive Officer of NNPCL, Mele Kyari, stated during an interview in Abuja that he anticipates the situation to improve within a day or two.

  1 day ago ago
There is a sufficient supply of 1.8 billion liters of petrol, says NNPCL.

ECONOMY-FINANCE

Falana Faults NNPCL, Says Only President Can Fix Petrol Price

Human rights attorney Femi Falana claims that the Nigerian National Petroleum Company Limited (NNPCL) lacks the legal authority to set or modify the price of petrol. Since there is no actual Ministry of petroleum resources, according to Falana, President Bola Tinubu has the authority to set the price of petrol.

  20 hours ago ago
Falana Faults NNPCL, Says Only President Can Fix Petrol Price

ECONOMY-FINANCE

NNPC confirms the increase in fuel pump price

NNPC Limited, the Nigerian National Petroleum Corporation, has officially announced the complete deregulation of the downstream sector of the Nigerian Petroleum Industry. This means that the price of petrol will now be determined by market forces, as the government subsidy on petrol has been removed by President Bola Tinubu.

  3 days ago ago
NNPC confirms the increase in fuel pump price

ECONOMY-FINANCE

NNPC CEO Mele Kyari Claims Nigerians Lucky as Petrol Price Escapes N1000 per litre

The Nigerian National Petrol Company (NNPC) has officially confirmed the increase in petrol prices. This adjustment comes shortly after President Bola Tinubu's inaugural speech at Eagle Square, where he announced the end of the subsidy era. Mele Kyari, the first group CEO of NNPC, expressed gratitude that the petrol price has not risen to N1000 per litre, emphasizing that this increase is a result of market dynamics.

  2 days ago ago
NNPC CEO Mele Kyari Claims Nigerians Lucky as Petrol Price Escapes N1000 per litre

ECONOMY-FINANCE

NNPC Introduces New Fuel Price Nationwide, Ends Subsidy

The Nigerian National Petrol Company Limited has acknowledged that it has modified Premium Motor Spirit, also known as petrol, pump prices across the country. The national oil firm claimed that the altered pump price was in keeping with "current market realities" in a statement issued on Wednesday and signed by its Chief Corporate Communications Officer, Garba Deen Muhammad.

  3 days ago ago
NNPC Introduces New Fuel Price Nationwide, Ends Subsidy

ECONOMY-FINANCE

Nigerian National Petroleum Corporation (NNPC) Acknowledges Increase in Pump Price of Petrol

According to reports, the Nigerian National Petroleum Corporation (NNPC) Limited has officially acknowledged an increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol. This adjustment in price comes just 48 hours after President Bola Tinubu declared an end to the era of fuel subsidies during his inaugural speech at the Eagle Square on May 29, 2023.

  2 days ago ago
Nigerian National Petroleum Corporation (NNPC) Acknowledges Increase in Pump Price of Petrol

ECONOMY-FINANCE

Shutting down Petrol Stations is a blackmail by subsidy Cartel, time to end Subsidy parasites- Sani

The Former Nigerian Senator, Activist and author identified as Shehu Sani has reacted to the recent wave of petrol scarcity following the announcement and move by the government to end petroleum subsidies. Shehu Sani explained in a recent post that shutting down Petrol stations on the announcements of the removal of petroleum subsidies is the usual blackmail by the subsidy cartel.

  3 days ago ago
Shutting down Petrol Stations is a blackmail by subsidy Cartel, time to end Subsidy parasites- Sani

ECONOMY-FINANCE

NNPC confirms petrol price hike

The Nigerian National Petrol Company Limited has acknowledged that it has modified Premium Motor Spirit, more commonly known as petrol, pump pricing nationwide. The national oil firm claimed that the revised pump price was in line with "current market realities" in a statement released on Wednesday and signed by its Chief Corporate Communications Officer, Garba Deen Muhammad.

  2 days ago ago
NNPC confirms petrol price hike

ECONOMY-FINANCE

Subsidy withdrawal: Hoard fuel, lose your land, Edo govt warns dealers

The government of Edo State has issued a warning to petrol dealers not to hoard petroleum products in an effort to create an artificial scarcity and hike up prices. It was reported that many petrol dealers stopped selling their products following Bola Ahmed Tinubu's recent announcement that the subsidy paid by the federal government on imported petroleum products would cease.

  4 days ago ago
Subsidy withdrawal: Hoard fuel, lose your land, Edo govt warns dealers

ECONOMY-FINANCE

Petrol subsidy removal not immediate — Presidency Source

According to the vanguard news,In a recent development, the Nigerian Presidency has refuted claims regarding the immediate removal of petrol subsidy. According to a source within the presidency, the government has no immediate plans to eliminate the subsidy on petrol, as suggested by earlier reports.

  3 days ago ago
Petrol subsidy removal not immediate — Presidency Source

ECONOMY-FINANCE

NNPCL backs Tinubu on petrol subsidy removal

Vanguard news reported that the Nigerian National Petroleum Company Limited (NNPCL) has backed President Bola Tinubu on his decision to remove subsidy on Premium Motor Spirit (PMS) also known as petrol. In a statement issued on Tuesday, the NNPCL said the decision was a "necessary step" to ensure the long-term sustainability of the oil and gas industry.

  4 days ago ago
NNPCL backs Tinubu on petrol subsidy removal

ECONOMY-FINANCE

Finally, Subsidy Removed As NNPC Sells Petrol N537/Litre In Abuja

Nigeria Removes Fuel Subsidy, Pump Prices Rise The Nigerian government has removed the fuel subsidy, effective immediately. This means that the price of petrol will now be determined by the market, and is expected to rise significantly. The government has said that the removal of the subsidy is necessary to save money and improve the efficiency of the oil sector.

  3 days ago ago
Finally, Subsidy Removed As NNPC Sells Petrol N537/Litre In Abuja

ECONOMY-FINANCE

Petrol price jumps to N350/ltr as queues return

According to Vangaurd News report, In a significant move that has sent shockwaves throughout the downstream sector of the Nigerian petroleum industry, the recent removal of petrol subsidy has resulted in an immediate spike in pump prices. As a consequence, consumers are now facing higher costs at the pump, leading to long queues at petrol stations across the country.

  4 days ago ago
Petrol price jumps to N350/ltr as queues return

ECONOMY-FINANCE

Petrol subsidy in Nigeria: A burden to the poor or a tool for economic growth?

Petrol subsidy is one of the most talked-about issues in Nigeria, with people divided on whether it is a burden to the poor or a tool for economic growth. A petrol subsidy is the amount that the government pays out to reduce the pump price of petrol at the filling station.

  3 days ago ago
Petrol subsidy in Nigeria: A burden to the poor or a tool for economic growth?