The Federal Government on Monday said it has shelved plans to remove fuel subsidy this year. The Minister of State for Petroleum Resources, Timipre Sylva, disclosed this while speaking to reporters after meeting with Senate President Ahmad Lawan, in Abuja over the planned removal of subsidy on petroleum products by the Federal Government. Those at […]
The Minister of State for Petroleum, Timipre Sylva, says President Muhammadu Buhari is not in support of the removal of subsidy on the Premium Motor Spirit (PMS), popularly known as petrol. Rather, he explained that the Federal Government planned to complete consultations before coming out with a clear policy direction on the matter. “I will […]
The Federal Government has revealed plans to make additional provisions for fuel subsidy in the 2022 budget, Mrs Zainab Ahmed has said. Ahmed, who is the Minister of Finance, Budget, and National Planning, disclosed this on Monday at a meeting with the President of the Senate, Ahmad Lawan, at the National Assembly Complex in Abuja. […]
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has described the Nigeria Labour Congress (NLC) planned nationwide protest against fuel subsidy removal as unnecessary and misplaced priority. The NLC had fixed January 27 for its protest across the 36 states and a grand protest in Abuja over the planned fuel subsidy removal. Speaking to The […]
The National Economic Council (NEC) has said any decision on the removal of petrol subsidy will be taken in June when the provision for its payment in the 2022 budget expires. The NEC said the Nigerian National Petroleum Corporation (NNPC) Limited must be run differently since it is now an limited liability company. The Governor […]
President Muhammadu Buhari has urged Nigerians to exercise patience as the growing food production in the country, especially the expansion in rice farming, will eventually bring down prices of food, making it more affordable for all. He said across Nigeria, more than 4.8 million smallholder farmers had been supported by Anchor Borrowers’ Programme, with increase […]
The federal government may increase the price of Premium Motor Spirit (PMS), better known as petrol, to N302 per litre in February 2022 as part of the recommendation of the National Economic Council (NEC) in November 2021. TheCable understands that this is part of the government’s plan to fully deregulate the PMS prices, eliminating monthly […]
AGAINST the backdrop of the planned labour cum civil society protest over the alleged planned removal of petroleum subsidy, President of the Senate, Dr Ahmad Lawan, yesterday categorically declared that President Muhammadu Buhari has not directed anyone in his administration to implement the removal of petroleum subsidy. Recall that the organized labour through the leadership […]
Senate President, Ahmad Lawan has justified the need for the Federal Government to borrow funds, saying it is necessary for infrastructural development in the country. He stated this on Tuesday at the Senate Chamber upon the resumption of the lawmakers from recess. Lawan stated that funding the 2022 budget is based on significant borrowing, adding […]
After eight months of decline, Nigeria’s headline inflation rate rose to 15.36 per cent in December 2021, from 15.50 per cent recorded in November. The Statistician-General of the Federation, Simon Harry, disclosed this on Monday during a press briefing at the National Bureau of Statistics, Abuja. Earlier data from the NBS showed that headline inflation […]
