Tag: Petrol Subsidy
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Tinubu diverting public funds through subsidy – Atiku
The Presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, Atiku Abubakar, has accused the Bola Tinubu administration of diverting public funds through petrol subsidy. Atiku said the refusal of the present administration to reveal how much is being spent on subsidy shows that it is diverting funds secretly.
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Reps committee plans audit of petrol subsidy regime
The House of Representatives Committee on Petroleum Resources (Downstream), says it plans to conduct a comprehensive audit of the subsidy regime of the Premium Motor Spirit (PMS) in the country. Rep. Ikeagwuonu Ugochinyere, the Chairman, said this at the committee’s inauguration in Abuja on Friday.
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Petrol subsidy removal, Dangote refinery as best kept secret – By Magnus Onyibe
Hitherto, Nigeria had been known as a net exporter of crude oil and a perpetual importer of refined petroleum products.
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INVESTIGATION: Nigerians could pay over N460 per litre of petrol from July 2023
Nigeria’s President Muhammadu Buhari will present the 2023 appropriation bill before the National Assembly in September, and the country’s projection to spend nearly N7 trillion naira on petrol subsidy is already unsettling lawmakers. Nigeria, the largest oil producer in Africa, is unable to benefit from the global surge in oil prices caused by the Russia-Ukraine…
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There won’t be petrol subsidy after Buhari signs PIB – Minister
Nigeria will no longer operate the subsidy system to regulate the cost of Petrol once President Muhammadu Buhari signs into law the Petroleum Industry Bill, recently passed by the National Assembly. The Minister of State for Petroleum Resources, Chief Timipre Sylva, announced this on Monday. Sylva, who spoke at: “Nigeria/Organisation of Petroleum Exporting Countries: 50…
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Labour puts unions on strike alert; says planned petrol subsidy removal, hike will be met with stiff resistance
Organised Labour have alerted affiliated and sister unions on a fresh nationwide industry action over the possibility of an increase in prices of petroleum products. According to the labour leaders, the governors are spearheading the purported fuel subsidy removal/hike. TheNewsGuru.com, TNG gathered a committee set up by the Nigeria Governors’ Forum (NGF) last week pushed…
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Era of petrol subsidy payment not completely gone – Minister
Contrary to widespread belief that the removal of subsidy on petrol by the Federal Government is responsible for its soaring prices, the subsidy has not been completely removed, Minister of State for Petroleum Resources, Timipre Sylva, said on Monday. Speaking on Channels’ Politics Today, the minister said: “We are still trying to manage this bumpy…