Fuel subsidy

The Minister of State for Petroleum Resources, Chief Timipre Sylva, on Monday, announced that the petrol subsidy in Nigeria will be put to an end when President Muhammadu Buhari signs the Petroleum Industry Bill.Sylva announced this…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…