Tag: Fuel Subsidy
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NNPC Limited reacts as petrol scarcity follows Tinubu’s pronouncement on fuel subsidy
The Nigerian National Petroleum Corporation Limited (NNPCL) has reacted to the pronouncement of President Bola Tinubu on the payment of fuel subsidy.
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Fuel subsidy removal: Labour leaders react to Tinubu’s inaugural speech
Some labour leaders say there is a need for all stakeholders in the sector, including government, to analyse the issue of fuel subsidy removal mentioned by the new President, Mr Bola Tinubu, in his inaugural speech. Tinubu, on taking office on Monday, said that the budget in place before
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BREAKING: President Tinubu ends fuel subsidy
President Bola Ahmed Tinubu says his regime has ended subsidy payment on fuel. He said the 2023 Budget made no provision for fuel subsidy and more so, subsidy payment is no longer justifiable.
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How Fuel subsidy is killing Nigeria’s economy – AfDB president
Dr Akinwumi Adesina, the President African Development Bank (AfDB), says Fuel subsidy is killing Nigeria’s economy, costing it 10 billion dollars alone in 2022.
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Analysis: Dangote refinery vs inoperative FG-owned refineries
The Nigerian government’s expenditure on the maintenance and rehabilitation of its refineries, along with fuel subsidies despite financial challenges, has surpassed the cost of constructing new refineries capable of refining significantly higher volumes of crude oil, some stakeholders have argued.
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How Nigeria spent N13trn on fuel subsidies in 16 years – Boss Mustapha
Following the confusion surrounding the removal of Fuel Subsidy the Secretary to the Government of the Federation, Boss Mustapha has said the country spent N13 trillion on subsidies payment between 2005-2021.
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FG denies seeking another $800m World Bank loan
The federal government has said that it was not seeking another $800 million loan from the World Bank to cushion the impact of the impending removal of petroleum subsidy.
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El-Rufai, Soludo, Sanusi insist on fuel subsidy removal
The Kaduna State Governor Malam Nasir El-Rufai and his Anambra counterpart, Prof. Charles Soludo, have urged the Federal Government to end the fuel subsidy regime which has negatively affected Nigeria’s economy. The governors made the call on Tuesday in Abuja during a panel session at the policy conversation on “How Nigeria Can Build a Post-Oil…
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Labour reacts to suspension of fuel subsidy removal
The Organised Labour have described the Federal Government’s decision to suspend the removal of fuel subsidy as the “best option”.
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Why subsidy removal is good for Nigeria – LCCI
The Lagos Chamber of Commerce and Industry (LCCI) says the Federal Government’s planned petrol subsidy removal remains one of the best economic decisions that will reduce Nigeria’s debts and tackle widespread corruption in the oil sector.