Tag: Fuel Subsidy Removal
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Fuel subsidy removal: Nigerians divided as FG seeks to spend $800m loan on palliative
Nigeria has in recent months come under pressure to end its controversial subsidy on Premium Motor Spirit (PMS) otherwise known as petrol. This is even more so as the Ghana National Petroleum Authority announced last month that it had removed the country’s fuel subsidy in response to global oil and petrol market volatility caused by…
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LCCI recommends phased fuel subsidy removal
The Lagos Chamber of Commerce and Industry (LCCI) in a statement on Tuesday in Lagos has recommended a phased removal of petroleum subsidy to mitigate its effect on the masses. This was made known by Dr Chinyere Almona, Director-General, LCCI in response to plans of the Federal government to suspend fuel subsidy removal as a…
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Domestic refinery owners support oil subsidy removal
The Domestic Refinery Owners Association of Nigeria (DROAN), have thrown their weight behind the Federal Government’s removal of oil subsidy in the country. The National Chairman of the association, Mr Godwin Sunday, made this known in a press conference organised by the association in Uyo on Saturday. Sunday said that the association was in full…
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Fuel Subsidy Removal and Naira Devaluation: Who says President Buhari Does not Listen to Advise?, By Magnus Onyibe
By Magnus onyibe The bitter and sweet policies of gradually abolishing fuel subsidy regime and guided floating of the naira might have taken a long time in coming-nearly six years. But as the saying goes, it’s better late than never. And with the current developments in the monetary market and in the petroleum products retail…