Former Ekiti State governor, Mr, Ayodele Fayose has said that President Bola Tinubu has taken the best and wisest decision for the collective good of Nigeria and its people on the removal of fuel subsidy. During his inaugural speech on Monday, the President said that the subsidy is no longer sustainable in Nigeria, stressing that it is gone.’ Fayose, a …

Award-winning Nigerian singer, Tiwa Savage has lamented the resurfacing fuel scarcity due to the announcement of the removal of subsidy by President Bola Tinubu. The singer, who recently returned to the country from Brazil, where she went on holiday, said she came back home to fuel scarcity and an epileptic power supply. She also bemoaned the damage to one of …

NNPC Limited has jerked up pump prices of Premium Motor Spirit (better known as petrol) from N195 per litre to between N488 in Lagos and some other cities; to a maximum of N557 in Maiduguri, the Borno State capital; and Damaturu, capital of Yobe State. According to NNPC Limited, the new price regime becomes effective from today (31st May). In …

The House of Representatives Ad Hoc Committee on the State of Refineries in the Country has said that the Federal Government spent over N11 trillion on rehabilitating refineries from 2010 to date. The committee chairman, Hon. Ganiyu Johnson, however, failed to convince the Deputy Speaker, Hon. Ahmed Wase, who chaired the Committee of the Whole, to consider the report. Wase …

Suspected vandals on Tuesday busted one of the petroleum product pipelines in Ijedodo, Igando-Ikotun Local Council Development Area of the Lagos State. This followed fuel scarcity as a result of hoarding of the products, which has caused untold hardship on motorists and commuters. The sate Fire and Rescue Service, Lagos State Emergency Management Agency (LASEMA) and Nigeria Police and other …

A team from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Tuesday carried out a raid on filling stations in Osogbo, where they sealed a filling station in the Olaiya area for hoarding fuel despite instruction by the agency to dispense the product. During the raid in the capital city of Osun state, they also forced many owners …

The Group Chief Executive Officer of the NNPC Limited, Malam Mele Kyari, on Tuesday, in Abuja said the Federal Government still owes the company N2.8 trillion that it had spent on petrol subsidy. “Today, we are waiting for them to settle up to N2.8 trillion of NNPC’s cash flow from the subsidy regime and we can’t continue to build this”, …

The announcement that the Bola Tinubu administration would not continue the fuel subsidy regime triggered off fuel queues in Lagos and Abuja, but NNPC Limited assured late yesterday that there is sufficient supply of Petroleum Motor Spirit (PMS). But there are reports that some stations are already selling fuel for between N350 and N800 per litre as against the official …

Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has counselled Asiwaju Bola Tinubu, as he takes over the presidency of the country, not to rush in removing subsidy in Premium Motor Spirit (PMS) (commonly known as petrol) because of its socio-economic implications. In a statement by NUPENG’s President and General Secretary, Prince Williams Akporeha and Afolabi Olawale, the union …

The Federal Government has released and handed over a large crude carrier, MT Heroic Idun, to the owners, Idun Maritime Limited, after fulfilling the conditions of the plea bargain entered between them and the Nigerian government. It would be recalled that the tanker with 26 foreign crew on board resisted arrests by the Nigerian Navy Ship Gongola, near the Apu …