Some filling stations sold premium motor spirit (PMS), also known as petrol, for as high as N220 a litre in Lagos and N235 a litre in Abuja on Monday, according to checks by TheCable. Despite displaying the N165 a litre on their pumps, TheCable noticed that some filling stations sold the product above the […]
Governor Charles Soludo has denied the reports alleging ‘budget-padding’ in the state In a statement by his press secretary, Christian Aburime, Soludo described the reports as false. According to him, the peddlers were those who have lost out in milking the state treasury. “These are the handwork of losers and detractors. The misinformation should […]
The Nigeria Governors’ Forum (NGF) says petrol subsidy is causing states to experience fiscal stress and impacting salaries. The NGF said this in a memo forwarded to Abdulkadir Abdullahi, chairman of the house of representatives ad hoc committee investigating the volume of daily fuel consumption in Nigeria. The memo was signed by Fatima Usman […]
The Minister of State for Petroleum, Timipre Sylva, on Wednesday, absolved the Federal Government of any blame for the fuel queues in the nation’s capital, saying that marketers are responsible. Sylva, who addressed State House correspondents after the weekly Federal Executive Council meeting, said the NNPC is in very good supply of the product. […]
Saudi Arabia and United Arab Emirates (UAE) have set aside about $13 billion to protect poor families from the ripple effects of high food prices. The two biggest Gulf economies will use the fund to stockpile essential commodities as well as distribute direct cash transfers to support social security beneficiaries, according to reports. Since […]
Despite calls from the United Nations for the abandonment of fossil fuels, the Minister of State for Petroleum Resources, Chief Timipre Sylva has insisted that the time is not ripe for Nigeria to abandon its hydrocarbon. In his opening remarks at the 21st Nigeria Oil and Gas conference in Abuja, he said the commodity […]
The Peoples Democratic Party on Saturday said President Muhammadu Buhari and the All Progressives Congress lack the political will to solve the “perennial” issues of fuel subsidy. “The resurgence of long fuel queues in our filling stations in major cities across the country further explains the lack of political will by the President Muhammadu […]
For the fifth time in 2022, the Nigerian National Petroleum Company (NNPC) Limited failed to remit revenue to the federation account as subsidy claims eroded gains. NNPC said this in its monthly presentation to the federation account allocation committee (FAAC) meeting on Wednesday, June 22. The oil firm said it deducted another N327.07 billion […]
As the struggle to get Premium Motor Spirit (PMS) otherwise called petrol mounts, it has been estimated that Nigerians guzzled 2,020,248,000 litres of the product and spent at least N333.34 billion at official retail pump price on it in one month. Observers have, however, queried the figures. This week, petrol scarcity was more pronounced […]
President Muhamamdu Buhari has defended the federal government’s decision to keep paying fuel subsidies. In a response to Bloomberg, the President said the effects of removing fuel subsidies would have been too harsh on the Nigerian people. He said the government is working on boosting local capacity in order to stem the inflationary pressures […]
