Former President Olusegun Obasanjo has knocked the administration of President Bola Tinubu over poor implementation of the removal of subsidy from petroleum products as well as the floating naira. Obasanjo said though the policies were necessary, they were wrongly implemented. According to a statement made available to journalists on Sunday by his Special Assistant on Media, Kehinde Akinyemi, Obasanjo also …

The International Monetary Fund (IMF) has explained why it advised Nigeria to remove fuel subsidies, adding that the subsidy regime was robbing the poor for the rich. The Director of the African Department of the Fund, Mr. Abebe Selassie, provided insights into the organisation’s position, at the ongoing Spring Meetings of the IMF and World Bank in Washington DC. According …

The Special Adviser to the President on Energy, Mrs. Olu Veŕheijen has said that the Federal Government reserves the right to pay fuel subsidy intermittently to cushion hardship in the country. Veŕheijen said this while briefing journalists in Abuja on Friday. Earlier, the International Monetary Fund reported that the Nigerian government brought back petroleum subsidies through the back door. The …

Former governor of Bauchi State and a chieftain of All Progressives Congress (APC), Isa Yuguda, has said the Federal Government was still paying subsidy on petroleum products, including premium motor spirit, otherwise known as petrol. In his inaugural speech last year, President Bola Tinubu announced the five famous words “The fuel subsidy is gone”, adding that the 2023 Budget made …

Executive Secretary/CEO of Nigeria Extractive Industries Transparency Initiative (NEITI), Ogbonnaya Orji, has said Nigeria lost over N16.25 trillion due to oil theft in the country. Orji in a report to the Chairman of House Committee on Public Accounts, Bamidele Salam, during an interactive session in Abuja, also claimed that $74.386 billion was spent on fuel subsidy by successive administrations since …

The removal of petrol and foreign exchange subsidies has indeed been a significant economic policy change, and it has stirred various opinions and concerns among Nigerians. President Bola Tinubu’s goal of pushing the economy to a $1 trillion GDP by 2026 is ambitious and requires substantial economic restructuring. At the 29th session of the Nigeria Economic Summit Group (NESG) on …

The Ministry of Defence, through its Steering Committee on Social Safety NET, on Saturday evening, flagged off enrollment of veterans for palliatives to mitigate the hardship occasioned by the fuel subsidy removal by the federal government. The Minister of Defence, Mohammed Abubakar, who was represented by a Director of Joint Service Forces, Jude Alozie, stated that the initiative was to …

Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN) in Rivers State, Dr Joseph Obele, has called on the Nigerian National Petroleum Company Limited (NNPCL) to tell Nigerians the truth about the continued payment of subsidy for premium motor spirit (PMS) in the country. In a statement made available to newsmen in Port Harcourt, Rivers State yesterday, Obelle said …

The Delta State Governor, Sheriff Oborevwori, has approved a 25 per cent reduction in acceptance fees payable in the four state-owned universities as part of palliatives for students. The governor’s approval was contained in a statement by his Chief Press Secretary, Festus Ahon, on Wednesday, in Asaba. The statement said the reduction in the acceptance fee was in line with …

A former Senior Special Assistant to the President (Office of the First Lady), Dr. Ike Neliaku has said that refineries across the country are not working because some persons deliberately frustrated it for selfish gains. In a chat with newsmen on Saturday, Neliaku described the state of the nation’s refineries as a shame, alleging that despite so much money that …