Defending the recent hike in electricity tariffs, which has attracted wild reactions and resistance from Nigerians, Minister of Power, Mr. Adebayo Adelabu, on Tuesday, said that the introduction of higher tariffs for Band A users has reduced the electricity subsidy…
By Opeyemi Abdulsalam The Nigerian National Petroleum Company Limited (NNPC Ltd.) has denied allegations of inflating subsidy claims by N3.3 trillion, describing the report as “ridiculous” and “products of febrile imagination.” In a statement signed by Chief Corporate Communications Officer,…
…Cites increase in infrastructure investment as reason for hike in electricity tariff …Downgrades 300 feeders for failing to supply 20hrs of electricity …Mandates DisCos to migrate more customers to Band A The Nigerian Electricity Regulatory Commission (NERC) has stated that…
The World Bank has said that by 2025, Nigeria should have over N11 trillion saved from fuel subsidy removal. The World Bank provided this insight in the December 2023 Nigeria Development Update which is a bi-annual report which evaluates recent…
The Trade Union Congress (TUC) has claimed that the Federal Government of Nigeria only paid workers who were paid N35,000 monthly wage award. President of the TUC, Comrade Festus Osifo while briefing journalists after its National Executive Council (NEC) meeting…
The Nigerian National Petroleum Company Limited (NNPC Ltd) has stated that subsidy payments rose to N400bn monthly and gulped N3.7bn in May 2023. The NNPCL in a statement by its Chief Corporate Communications Officer, Mr Olufemi Soneye made this known…
…NNPCL insists gov’t has ceased paying subsidies …FX shortage stalls importation of fuel, as NNPC now sole petrol importer …As Isreali crisis fuels surge of oil prices Controversies have trailed the suspension of the payment of subsidy on Premium motor…
Major Oil Marketers Association of Nigeria (MOMAN) has cautioned the Federal Government against partial introduction of fuel subsidy to address the rising price of petrol. Its Chief Executive Officer, Mr Clement Isong said that any short-term intervention must be well-targeted,…
By Jimoh Olorede, Ph.D. Before its official removal in May 2023 by President Bola Ahmed Tinubu, fuel subsidy regime had been in Nigeria for more than 53 years, having begun in the 1970s. However, following the promulgation of the Price…
Economic issues recently have become more windy with confusing side to the masses who just want to see the hardship of recent woes of the economy distilled for a drastic turnaround. Recently, the cost of petroleum products has made earlier…
