In his inaugural address on Monday, President Bola Tinubu announced the end of fuel subsidy as it would no longer be an item on the budget. On Wednesday, Government announced a drastic rise in the prices of petrol from 185 to up to 557 Naira a litre depending on location. It was a shock to […]
In his inaugural address on Monday, President Bola Tinubu announced the end of fuel subsidy as it would no longer be an item on the budget. On Wednesday, Government announced a drastic rise in the prices of petrol from 185 to up to 557 Naira a litre depending on location. It was a shock to the Nation and immediately, labour was up in arms demanding for a complete withdrawal.
Going down memory lane, I still have fond memories of our last battle to save fuel subsidy in 2012. In Abuja, we decided to call the bluff of the Jonathan Administration by establishing BLUF -Building Leverage and Unity on Fuel Subsidy Struggle. We were incensed by the decision of the Jonathan Administration to cancel fuel subsidy because of the implications forextremely high costs for transport, food and other essentials.
also fail because Nigerians will struggle against it and win. We won. The result is that a cabal or regime insiders and marketers have stolen trillions of Naira from our national treasury and as former Minister Ngozi Okonjo-Iweala explained, most of the subsidy we have been paying for is not even real fuel brought into the country, its simply looting of the treasury.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fuel subsidy: Seven persons in Osun NSCDC net for fuel hoardingIn line with the warning of the Osun State Government against the hoarding of Premium Motor Spirit, PMS, the Osun State Command of the Nigerian Security
Read more »
Fuel Subsidy Removal: Nigerian Government Should Be Ashamed Of Its Incompetence –NLC President | Sahara ReportersPresident of the Nigeria Labour Congress Joe Ajaero has said there won’t be talks of subsidy if the Nigerian government had done some of the things suggested by the Labour congress. Ajaero during an interview on Channels TV on Wednesday, said the Labour Congress had suggested that the country’s crude oil should be refined locally and sold to Nigerians cheaply.
Read more »
Nigerian Petroleum Company, NNPCL Confirms Releasing Outrageous Fuel Prices, Calls For ‘Understanding’ From Citizens | Sahara Reporters
Read more »
Fuel Subsidy: Why Petrol Prices Will Soon Come Down – Nigerian Company, NNPCL | Sahara ReportersThe Nigerian National Petroleum Company Limited (NNPCL) has claimed that with time, the current high pump price of premium motor spirit (PMS) popularly known as fuel will come down. The Group Chief Executive Officer of the NNPCL, Mele Kyari, who gave the assurance on Thursday during an interview on Arise News TV, said that competition among major players in the oil sector would force down the price of fuel as against the current price hike that had caused panic and controversy in the country.
Read more »
Cushion Effects Of Fuel Subsidy Removal On Nigerians, Address Widespread Hunger, Unemployment, Amnesty International Tells Tinubu | Sahara ReportersA human rights advocacy organisation, Amnesty International has urged the Nigerian authorities to protect the people most affected by its removal of fuel subsidy. During his inaugural speech on Monday, May 29, President Bola Tinubu announced an end to Nigeria’s fuel subsidy, citing budgetary concerns. The announcement led to a steep rise in fuel prices and widespread panic-buying of fuel. Some bus companies have been unable to refuel their vehicles, leaving many people stranded.
Read more »
Fuel Subsidy Removal: Nigerian Petroleum Company, NNPCL Releases N488 To N557 Fuel Pump Price Per Litre Across 36 States, Abuja | Sahara ReportersFollowing President Bola Tinubu’s announcement of fuel subsidy removal on Monday during his inaugural speech, the Nigerian National Petroleum Company Limited (NNPCL) on Wednesday morning released a list of adjusted pump prices for its mega stations across the 36 states of the federation and the Federal Capital Territory, Abuja. According to the released price list, the new pump price for fuel, also known as premium motor spirit (PMS), ranges from N488 in Lagos State to N557 per litre in Yobe and Borno states, while it is N537 in Abuja.
Read more »