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President Bola Tinubu has approved the request by the Nigeria National Petroleum Company Limited (NNPCL) to use 2023 dividends to pay petrol subsidy. The 2023 dividends were supposed to be paid into the federation account, which should be shared among the three tiers of government. This is coming as the federal government has continued denying […]
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The federal government has acknowledged that fuel subsidy expenditures are expected to surge to ₦5.4 trillion in 2024. This is contained in a recent revelation by the Minister of Finance, Wale Edun during the presentation of the Accelerated Stabilisation and Advancement Plan (ASAP) report, which outlines strategies to address critical challenges and stimulate growth across […]
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A former Governor of Bauchi State, Isa Yuguda has revealed that the Tinubu-led federal government still pays subsidies on petroleum products. President Bola Tinubu, in his inaugural speech in May 2023, announced that “The fuel subsidy is gone.” Tinubu added that the 2023 Budget made no provision for fuel subsidy and more so, subsidy payment […]
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The Group Managing Director of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, has given details of his meeting on Tuesday, May 29 with President Bola Tinubu. He disclosed that the federal government is owing the company N2.8 trillion it paid on petrol subsidy. Kyari on Tuesday told State House correspondents, after his meeting […]
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Following the announcement by the new president that he has no provision for fuel subsidy and would be removing it, queues have resurfaced at petrol stations across the country. Where available, some dealers sell above the government recommended price. The Bola Ahmed Media Centre has however, clarified that fuel subsidy removal announced by the President […]
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Newly sworn-in President, Bola Ahmed Tinubu has announced that he is completely abolishing fuel subsidy in Nigeria. He stated that it is no longer sustainable. The president gave the directive at the Eagle Square Abuja while delivering his maiden address to Nigerians. According to him, “On fuel subsidy, the budget I met before I assumed […]
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The presidential candidate of the Labour Party (LP), Peter Obi has lamented fuel that subsidy is an organised crime that benefits only the rich. Obi stated that if elected President, he will not allow any form of criminality to continue in the oil and gas sector. Speaking during an interview with Trust TV, he said […]
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The Minister of State for Labour and Employment, Festus Keyamo, has given an update on the planned fuel subsidy removal by the Federal Government. Reports emerged a few days ago that the removal will take effect in June. This implies that the next administration will be take responsibility for the implementation and whatever consequences might follow. […]
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