BREAKING: Tinubu Removes Fuel Subsidy
President Bola Tinubu has announced the removal of the fuel subsidy from July 1, 2023, emphasising that his government will not provide funds to subsidise the product.
He announced this on Monday during his inaugural speech as the 16th President of Nigeria at Eagle Square, Abuja.
Mr Tinubu said he is taking this decision because the 2023 budget has not provided for the payment of fuel subsidy from the second half of the year.
In the 2023 Appropriation Act signed into law by former President Muhammadu Buhari, the provision was only for January 1 to June 30.
Fuel Subsidy: Check NNPC Updated Petrol Price for Your State
As fuel scarcity and exorbitant prices start to dominate the country, the Nigerian National Petroleum Corporation has today make known the official rate of the non-subsidized PMS.The new price range from 480-512 across the country.It will be recalled that the Tinubu-led Federal Government announced the removal of the fuel subsidy on Monday, a decision that has put the whole country in jeopardy. Naijacrawl can affirm that the price for PMS will fall when the newly co...
FG Halts Plan to Remove Fuel Subsidy
Earlier today in Abuja, the Federal Government suspended plans to remove fuel subsidy by June this year.This was disclosed by the Minister of Finance, Budget and National Planning, Ahmed Zaniab shortly after the National Economic Council, NEC, meeting, chaired by the Vice President, Yemi Osinbajo.he said the NEC, which comprises State Governors deliberated on the issue extensively and came to the conclusion that it will not be wise to remove subsidy as soon as the n...
Fuel consumption figures unbelievable —Lamido Sanusi
The former governor of the Central Bank of Nigeria, Lamido Sanusi, has said the claim by the Nigerian National Petroleum Company that Nigeria consumes 66 million litres of fuel daily is simply “unbelievable.”Sanusi queried the supposed volume of Nigeria’s daily consumption of petrol. We need to do a high standard audit of every penny spent on the NNPC.He said, “In 2019, officially we were importing 40 million litres per day. In 2022 officially, we were importing 66...
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