Tag: Subsidy
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More measures needed to cushion effects of subsidy removal – Senator tells FG
Chairman, Senate Committee on Finance, Sani Musa, says more mitigating measures are needed to be put in place to cushion effects of subsidy removal.
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Aftermath of fuel subsidy removal cross-border fuel smuggling drastically dropped – NNPCL boss
Aftermath of removal of fuel subsidies in Nigeria cross-border smuggling of Premium Motor Spirit has drastically reduced. This is according to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mr. Mele Kyari. Kyari explained that the subsidy created a price disparity between Nigeria and neighbouring countries, making smuggling highly profitable. Before…
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Finally, FG suspends subsidy on Hajj fare – NAHCON confirms
Muslims intending to travel to Saudi Arabia for the 2025 Hajj may have to pay more as the federal government of Nigeria has suspended subsidies for Hajj payments. The National Hajj Commission of Nigeria (NAHCON) confirmed the development in a statement issued on Monday through the commission’s spokesperson, Fatima Sanda Usara. It is worth noting…
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Doyin Okupe tackles Dangote on complete subsidy removal
A former Presidential spokesperson, Dr Doyin Okupe, on Tuesday said he was not in agreement with Alhaji Aliko Dangote’s call for complete removal of subsidy. Okupe expressed the position in an interview with NAN in Lagos.
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It is right time to take away subsidy – Dangote to FG
Chairman of Dangote Group, Aliko Dangote urged the Federal Government to stop the fuel subsidy, saying it is the right time to do so. In an interview with Bloomberg TV on Monday, the billionaire insisted that the Nigerian government can’t afford to sustain petrol subsidy.
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Why I removed fuel subsidy – Tinubu
President Bola Tinubu says the Federal Government decided to remove fuel subsidy and abolish multiple foreign exchange rates to grow the economy for national development. The president said this while addressing the nation in a broadcast on Sunday on the ongoing nationwide protest.
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NNPC Ltd denies inflating subsidy claims
The Nigerian National Petroleum Company Limited (NNPC Ltd.) on Monday disowned reports in some sections of the media alleging that it inflated subsidy claims by N3.3 trillion.
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Subsidy fraud: Trial of Ali, son of ex-PDP National Chairman suffers setback
Trial of Mamman Ali, son of a former National Chairman of Peoples Democratic Party (PDP), Ahmadu Ali, for alleged N2.2 billion oil subsidy fraud suffered a setback on Wednesday due to absence of lead prosecution counsel.
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IMF urges FG to discontinue electricity subsidy
The Nigerian government has been advised by the International Monetary Fund (IMF) to eliminate what it has described as hidden subsidies on fuel and electricity.
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What you might expect in 2024 – Azu Ishiekwene
“Subsidy on petrol will go, sparking initial higher prices and demand for higher public sector wages by union leaders who know the truth but prefer to play to the gallery. To tackle the scandalous difference