Browsing Tag

Fuel subsidy

How Cabals were pocketing Subsidy Payment – Mele Kyari

Adefemola Akintade Sep 22, 2020 0

Mele Kyari, General Managing Director of NNPC has made some shocking revelations regarding the exploitation of fuel subsidy payments by unnamed members of a cabal.Kyari who made these revelations in an explosive interview with Kaduna…

Government

Fuel Subsidy: Anambra PDP Guber Aspirant Commends FG

Joy Mbachi Sep 12, 2020 0

Mr. Godwin Ezeemo, a Peoples Democratic Party (PDP) Governorship Aspirant in Anambra, says the decision of the Federal Government to remove the petrol subsidy is long overdue and a good step in the right direction.Ezeemo, the…

Opinion

Alternative To PMS Abandoned By Federal Government – By Femi Falana

John Ogunsemore Sep 11, 2020 0

The address of Femi Falana SAN, Co-chair, Alliance on Surviving COVID-19 and Beyond (ASCAB) at the emergency Webinar meeting of ASCAB held on Wednesday, September 9, 2020As an opposition political party the All Progressive Congress…

Law

$3m bribe: Why Appeal Court dismissed Lawan’s no-case submission

Edith Nwapi Aug 5, 2020 0

The Court of Appeal on Tuesday in Abuja dismissed the application filed by a former lawmaker, Farouk Lawan seeking to terminate the $3 million bribery charges filed by the Federal Government.He was the Chairman of the House of…

Oil and Gas

Fuel subsidy unrealistic – Petroleum Minister

John Ogunsemore Jul 9, 2020 0

The Minister of State for Petroleum Resources, Chief Timipre Sylva says the Federal Government never promised that the price of petrol would be permanently low.He explained that it was unrealistic to continue to subsidise the product as…

Economy

Fuel Subsidy Removal Not Temporary – Zainab Ahmed

Oladipupo Ehindero Jun 28, 2020 0

The entire global economy is facing difficult times and Nigeria is not insulated from that. But we can say that ours is not as bad as other countries. Nigeria faced two shocks simultaneously. First of all, there was the shock of the…

Features

JUST IN: How Oshiomhole frustrated OBJ administration’s efforts to remove fuel subsidy –…

John Ogunsemore Jun 6, 2020 0

Former Vice President Atiku Abubakar has explained how National Chairman of the ruling All Progressives Congress (APC), Comrade Adams Oshiomhole frustrated the Olusegun Obasanjo administration's efforts to end the fuel subsidy regime.He…

Economy

Recession: Senate Moves To Remove Fuel Subsidy

Oritsetsemaye Akapa Esq Mar 18, 2020 0

The Nigerian Senate is currently deliberating a move to remove fuel subsidy and the devaluation of the Naira to curb the predicted economic depreciation as a result of the outbreak of novel coronavirus disease globally.It was…

Politics

US ambassador gives reasons why Nigeria should scrap fuel subsidy

John Ogunsemore Jul 3, 2019 0

The Ambassador of the United States to Nigeria, Stuart Symington, has advised the Federal Government to end the fuel subsidy regime to engender rapid development of the country.Symington said this at an event to mark his country's 243rd…

Government

World Bank to Nigeria: Your fuel subsidy is not helping the poor

Samuel Oduoye Jun 4, 2019 0

The Vice President for Sustainable Development, World Bank, Laura Tuck, has said the payment of fuel subsidies by the Nigerian government does nothing to favour the poor.Tuck said this at the ongoing World Circular Economic Forum in…

Government

Fuel subsidy: Nigeria would have become bankrupt if we didn’t increase petrol price to N145…

Samuel Oduoye Apr 17, 2019 0

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, had disclosed that the landing cost of petrol, is now N35 higher than the pump price of N145 per litre,Kachikwu noted that the the rise in global crude oil prices after the…

Government

We will not accept fuel subsidy removal, Labour warns FG

Samuel Oduoye Apr 14, 2019 0

The Nigeria Labour Congress (NLC) has cautioned the Federal Government against implementing the recommendations of the International Monetary Fund (IMF) on the removal of subsidy on petroleum product.President of Congress, Comrade Ayuba…

Government

Remove fuel subsidy totally, IMF boss tells Nigeria

Samuel Oduoye Apr 12, 2019 0

The Managing Director, International Monetary Fund (IMF), Christine Lagarde, has asked the Federal Government to remove fuel subsidy, and redirect the funds to other essential sectors.Lagarde was addressing newsmen at the on-going…

Government

BudgIT to President Buhari: Remove Fuel Subsidy After 13 Years of N10 trillion Wasteful Corruption

Editor Apr 1, 2019 0

To the detriment of socio-economic developments, Nigeria has spent nothing less than N10 trillion on petrol import subsidy between 2006 and 2018. Let it be known: Nigeria is dancing on the edge of a razor blade by continuing its subsidy…

Finance

“Removing subsidy is better than increasing VAT” – ACTIONAID warns

Ademola Ademiluyi Mar 27, 2019 0

Members of the ActionAid group in Nigeria have warned the Federal Government to desist from raising VAT, (Value Added Tax) in the country, stating that such policies would further slow down the economy.Instead, they urged that the…

News

Buhari’s Enemies are Plotting Evil: Senator Kabiru Marafa on Petroleum Subsidy

Ademola Ademiluyi Dec 17, 2018 0

Kabiru Marafa, a senator from Zamafara has warned that oppositions of the president Buhari's government might create issues that will lead to petroleum scarcity in the country. He equally mentioned that the president has been making moves…

News

FG’s unpaid subsidy arrears is affecting our operations – Marketers

Yunus Yusuf Oct 28, 2018 0

Depot and Petroleum Products Marketers Association (DAPPMA) on Sunday said the unpaid subsidy arrears of over N650 billion by the Federal Government posed huge financial challenges to the downstream operations.DAPPMA Executive…

Government

NNPC denies existence of $3.5bn fuel subsidy fund

News Agency of Nigeria Oct 17, 2018 0

The Nigerian National Petroleum Corporation (NNPC) on Wednesday denied Senate’s allegation that it had a $3.5 billion fund to surreptitiously subsidise imports of petroleum products.The Senate had on Tuesday hinted that it would…

Opinion

Remove the subsidy: Create a million jobs

Nyerhovwo Tonukari Jan 25, 2018 0

Price controls are regarded by economists as one of the worst forms of intervention in markets. Over the years, the history of governments implementing price controls has shown that it is a failed venture. If truth be told, no measure…

Metro

Fuel subsidy fraud: court adjourns trial of oil marketer to May 17

Uju May 16, 2017

A Federal High Court Lagos, on Monday fixed May 17 for continuation of trial of an oil marketer, Olaniran Ogundipe, and his company, Petroleum Broker Nigeria Ltd, over N1.3 billion oil subsidy fraud.The case, which was earlier slated…

Metro

N1.7 billion subsidy fraud: Oil magnate slumps in court

Victoria Jan 14, 2017

Oil magnate, Mrs Ada Ugo-Ndali slumped in the dock yesterday, shortly before she was convicted of a N1.7 billion subsidy fraud by a Lagos high court sitting in Ikeja.Justice Lateefat Okunnu of a Lagos high court sitting in Ikeja found…

Government

Nigeria Was Bankrupted By A Foolish Policy – Emir Lamido Sanusi Speaks Up

Kelechi Uchenna Aug 4, 2016 0

The Emir of Kano, HRH Muhammadu Sanusi II, has said that Nigeria is bankrupt as a result of a “foolish and unrealistic policy.”Sanusi wondered why some people were now surprised that the economy was in recession when it was created by…

Politics

KOWA takes strong stance on Fuel Subsidy Situation

Femi Famutimi May 17, 2016 0

The KOWA party was formed in 2009 with a vision to make Nigeria better.The party was formed by civil society activists. They have come out today with a statement as regards the current fuel subsidy crisis hitting the nation.They…

Metro

Photos: Bauchi Youths go out Enmasse to Support Buhari Over Fuel Price Hike

Femi Famutimi May 17, 2016 1

While most people have been on the President's neck over the removal of fuel subsidy, Bauchi youths have come out to stage a protest in support of the President's decision.The NLC and many other parties have decried the move with the…

Metro

Removal of fuel subsidy will check corruption — Group

Femi Famutimi May 15, 2016 0

A group, Southern Nigeria People’s Mandate, on Saturday praised the Federal Government for removing subsidy on petrol, saying the move would help check corruption.The President of the group, Mr Augustine Chukwudum, made the…

Government

JOINT COMMUNIQUE ISSUED AT THE END OF THE EMERGENCY MEETINGS OF THE NIGERIA LABOUR CONGRESS, THE…

Kelechi Uchenna May 14, 2016 0

The emergency meeting debated extensively the implications of government's unilateral increase in prices of petroleum products, noting government's disinclination for consultation on issues of public interest and its obsession with…

Government

Removal of fuel subsidy will check corruption — Group

Owolabi Oluwasegun May 14, 2016 0

Jobs

Fuel Price Hike To Create 200,000 New Jobs – FG

Agency May 13, 2016

The Federal Government says that the new price regime for the downstream petroleum sector is comprehensively designed to tackle the hardship faced by Nigerians and create additional 200,000 jobs in the country.The information is…

Government

Lessons From N500 Note- Tonto Dike

Owolabi Oluwasegun May 13, 2016 0

Tonto Dike talks about lessons to be learnt from N500 note:Two important management lessons i learnt from a 500 Naira note.1. It happened some time ago but . I was in an audience listening to a motivational speaker. The speaker got…

Metro

N1.9bn fuel subsidy fraud: Wagbatsoma challenges FG’s lawyer’s authority to prosecute

Femi Famutimi May 13, 2016 0

The Managing Director of Ontario Oil and Gas Ltd, Walter Wagbatsoma, on Thursday at an Ikeja High Court, challenged the power of the lawyer of the Economic and Financial Crimes Commission (EFCC) , Mr Rotimi Jacob (SAN), to prosecute the…

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