Tag: Fuel subsidy

NUPENG Rejects Atiku’s Fuel Subsidy Comeback Plan, Questions Funding Strategy

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NUPENG Rejects Atiku’s Fuel Subsidy Comeback Plan, Questions Funding Strategy

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has criticised former Vice-President Atiku Abubakar’s proposal to restore petrol subsidy if he wins the 2027 presidential election, questioning the financial sustainability of the policy. The union’s position was made public by its President, Salimon Oladiti, in Ibadan. Atiku, who is the presidential candidate of…

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News

Dangote Tells FG It’s Time To End Fuel Subsidy Payment

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Dangote Tells FG It’s Time To End Fuel Subsidy Payment

Chairman of Dangote Group, Aliko Dangote, has said it’s time for the Nigerian Government to end the fuel subsidy regime. Dangote said fuel subsidy would lead to the Nigerian government “paying what they are not supposed to be paying,” hence the need to end it. In an interview with Bloomberg TV on Monday, the business…

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Finance and Economy

Why Tinubu Must Restore Fuel Subsidies Now – Farooq A. Kperogi

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Why Tinubu Must Restore Fuel Subsidies Now – Farooq A. Kperogi

A speculative news story from TheCable about President Bola Ahmed Tinubu considering a temporary restoration of petrol subsidies in light of the current unspeakable adversity that Nigerians are going through trended early this week. If it’s true, it’s commendable, but on Thursday Tinubu doubled down on his decision to remove subsidies, saying his government was…

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Opinion

FUEL SUBSIDY: Experts Warn Against Loan For Funding

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FUEL SUBSIDY: Experts Warn Against Loan For Funding

Following the eighteen month petroleum subsidy extension given by the Fed­eral Government, indus­try experts have warned against relying on foreign loans to fund the subsidy budget. Prof John Ebhomien, former World Bank/Inter­national Monetary Fund (IMF) economist and finan­cial management expert and development econo­mist, maintained that the country should not cave in to the whims and…

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Finance and Economy, Governance

2022 Petrol Subsidy To Cost FG N3 Trillion

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2022 Petrol Subsidy To Cost FG N3 Trillion

Presidency: we will borrow to meet obligation It will cost N3trillion to fund petrol subsidy this year at N270 billion per month, the Federal Government said yesterday. This is based on the projection submitted by the Nigerian National Petroleum Company (NNPC) Limited after the government announced a stay of action on petrol subsidy removal. Minister…

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Governance, News

NLC Suspends Planned Nationwide Protests

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NLC Suspends Planned Nationwide Protests

The Nigeria Labour Congress (NLC) has suspended its planned nationwide protest. The decision comes hours after the union had vowed to continue with its planned nationwide rally on Thursday and after the Federal Government announced the suspension of the planned removal of the fuel subsidy. The leadership of the Congress says, for now, it plans…

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Employment, Labour & Productivity, News