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Fuel subsidy News - Page 2

Edo Govt Reinstates Five-Day Workweek For Civil, Public Servants Amidst Fuel Subsidy Removal

The Edo State Government has announced the reversal of its earlier directive, which reduced the working days for civil and public servants from five days to three days a week. The initial decision was made in June as a response to the

October 1, 2023

News·Transport

Fuel Subsidy: Obaseki Offers Free Transport Across Edo State

In response to the recent fuel subsidy removal by the federal government, Edo State Governor, Mr. Godwin Obaseki has announced a groundbreaking initiative to provide free buses for residents in the State. Beginning on September 11, 2023, Obaseki’s administration is set to

September 5, 2023

IMF Sympathises With Victims Of Kenya Anti-tax Protest

Business·Oil & Gas

IMF Backs Fuel Subsidy Removal, As Gov’ts Spend $7trn To Lower Prices

About $7 trillion was spent globally on explicit and implicit fossil-fuel subsidies in 2022, the International Monetary Fund (IMF) revealed in a new report. With the cost of subsidies rising by $2 trillion over the past two years, the IMF advised governments

August 25, 2023

Business

N8,000 Is Significant Amount For Nigeria’s Poor Households, World Bank Defends Tinubu

The World Bank has backed the N8,000 monthly intervention fund President Bola Tinubu initially proposed as a palliative to cushion the hardship caused by the removal of subsidy on Premium Motor Spirit (PMS). Prime Business Africa previously reported that President Tinubu said

July 28, 2023

CBN Issues Guideline On How To Avoid Getting Duped By Illegal Financial Operators

Business

CBN Says Subsidy Removal, Naira Devaluation Will Fuel Inflation Rate

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) said the removal of subsidy on Premium Motor Spirit (PMS) and the naira devaluation will fuel the inflation rate. Members of the MPC stated that the continued hike in food

July 26, 2023

Tinubu Set To Attend COP 28 Summit In Dubai

News

Subsidy: Tinubu Promises To Give 12 Million Households N8,000 For 6 Months

By Chidera Abaratu, Journalism Mentee President Bola Ahmed Tinubu has promised that 12 million people will get N8,000 for six months as palliatives to cushion the effect of the removal of subsidy on Petrol. This was disclosed in a letter from the

July 13, 2023

Business·Oil & Gas

NNPC, Oil Marketers Disagree Over Fuel Subsidy Regime Contract

The Nigerian National Petroleum Company (NNPC) Limited has informed members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) to take delivery of petrol they paid for during the subsidy regime at a new price that includes the Value Added Tax (VAT).

July 11, 2023

Fresh Petrol Price Hike Stokes Fears Of Further Inflation Spike In Nigeria

Business·Oil & Gas

FG Using Oil Companies’ Fines To Increase Revenue – Major Oil Marketers

The Chairman of the Major Oil Marketers Association of Nigeria (MOMAN), Olu Adeosun, said the fuel subsidy removal will increase the Federal Government’s revenue from the oil industry. Adeosun stated that the removal of fuel subsidy, which ushered in the complete deregulation

July 7, 2023

Business

World Bank: Fuel Subsidy Removal To Reduce Money Supply In Nigeria, Raise Inflation Rate

The World Bank has disclosed that the money supply in Nigeria will drop due to President Bola Tinubu’s decision to remove fuel subsidy. This was disclosed in the international financial institution’s June 2023 edition of the Nigeria Development Update. Recall that Tinubu,

July 3, 2023

Business

APC’s Mustapha Audu Reveals How Ending Fuel Subsidy Can Create Billionaires

A Chieftain in the All-Progressive Congress (APC), Mustapha Audu, has stated that the removal of subsidy on fuel could create billionaires in the electric vehicle market in Nigeria. Audu said the removal of the subsidy will free trillions of naira, which the

June 29, 2023

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Fuel subsidy News - Page 2

Edo Govt Reinstates Five-Day Workweek For Civil, Public Servants Amidst Fuel Subsidy Removal

Fuel Subsidy: Obaseki Offers Free Transport Across Edo State

IMF Backs Fuel Subsidy Removal, As Gov’ts Spend $7trn To Lower Prices

N8,000 Is Significant Amount For Nigeria’s Poor Households, World Bank Defends Tinubu

CBN Says Subsidy Removal, Naira Devaluation Will Fuel Inflation Rate

Subsidy: Tinubu Promises To Give 12 Million Households N8,000 For 6 Months

NNPC, Oil Marketers Disagree Over Fuel Subsidy Regime Contract

FG Using Oil Companies’ Fines To Increase Revenue – Major Oil Marketers

World Bank: Fuel Subsidy Removal To Reduce Money Supply In Nigeria, Raise Inflation Rate

APC’s Mustapha Audu Reveals How Ending Fuel Subsidy Can Create Billionaires

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