The Federal Government has so far saved about N400 billion as a result of the removal of subsidy on Premium Motor Spirit (popularly called petrol) since 29th May when the initiative was officially implemented, oil marketers stated on Thursday. Also, the oil dealers stated that there was a high possibility for the cost of petrol to rise in July, going …

The World Bank has expressed its support for the Federal Government’s decision to remove subsidies and unify the country’s exchange rate. This follows President Bola Tinubu’s recent speech advocating for these measures. During an event organised by the World Bank to assess Nigeria’s economy over the past six months on Tuesday, Country Director, Dr. Subham Chadhuri emphasised that although the …

Federal Government representatives and Labour leaders will today resume talks on petrol subsidy removal palliatives, it was confirmed yesterday. Both parties are expected to harmonise some of the demands put forward by the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC). According to the Permanent Secretary, Federal Ministry of Labour and Employment, Kachallom Daju, the parties will reconvene at the presidential Villa, …

The Edo State Government has reduced school days to thrice weekly as part of efforts to cushion the impact of fuel subsidy removal. The Chairperson of the Edo State Universal Basic Education Board (SUBEB), Ozavize Salami said this in Benin City on Friday after a meeting between the state’s Head of Service Anthony Okungbowa and other government officials. Friday’s meeting …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has commended President Bola Tinubu for subsidy removal and tasked him with palliatives for Nigerians. IPMAN National President, Mr Debo Ahmed told newsmen in Abuja that, for a long time, the group had been supportive of the removal of fuel subsidy because of its implication on the economy and the market space. …

The Academic Staff Union of Universities (ASUU) has insisted that Nigeria has no subsidy. At the Alex Ekweme Federal University, Ndufu-Alike, Ikwo in Ebonyi State yesterday, ASUU President, Prof. Emmanuel Osodeke wondered why Nigeria would be exporting crude oil for the past 70 years and cannot refine the product at home. During his inauguration, President Bola Tinubu announced that “subsidy …

The Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila has provided further details about the resolution of last night’s meeting between the Federal Government and labour, highlighting that decision included steps to cushion the effect of the fuel subsidy removal on the people. Gbajabiamila, who will assume duty as Chief of Staff to the President next week after …

A politician and business man, Mr. Gbenga Olawepo-Hashim has appealed to the labour movement and other social groups to accept the removal of the subsidy on petroleum product as a painful surgical procedure instituted to excruciate a dangerous cancerous cell in the life of a patient in order to save the critically ill. In a statement from his media office …

The Judiciary Staff Union of Nigeria (JUSUN) has declared industrial action over the removal of fuel subsidy. The pump price of fuel tripled after President Bola Tinubu declared that fuel subsidy was gone. The NNPC Limited had directed its retail station to jerk up the price of fuel per litre from N197 to between N488 and N570. The Nigeria Labour …

The Nigeria Labour Congress (NLC) has debunked speculations that it might back down on its proposed industrial action slated nationwide for Wednesday. It said the only reason it would shelve the strike is if the Federal Government and NNPC Limited reverse fuel subsidy removal. NLC failed to attend Sunday evening’s meeting with the Federal Government on the removal of fuel …