Nigeria Economy

Economy

Nnpc Limited

Fuel Pump Prices Soar as NNPC Confirms Full Deregulation

NNPC Limited has affirmed the complete deregulation of the downstream sector of the Nigerian Petroleum Industry. This shift comes as petrol begins to sell at a market price following President Bola Tinubu’s decision to eradicate fuel subsidies. Through a public statement, Garba Deen Muhammad, NNPC’s Chief Corporate Communications Officer, confirmed on Wednesday that pump prices […]

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Peter Esele 1

Former TUC President Backs President Tinubu’s Plan to Reevaluate Naira Currency Swap

Peter Esele, a former President of the Trade Union Congress (TUC), has thrown his weight behind President Bola Tinubu’s intent to reassess the Naira currency swap policy. In his inaugural address as the 16th President of Nigeria, Tinubu suggested that the Central Bank of Nigeria (CBN) had applied the currency swap too stringently, regardless of

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Adewole Adebayo Vs Festus Osifo

SDP Presidential Candidate and TUC President Clash Over Petrol Subsidy Removal

The Social Democratic Party’s (SDP) presidential candidate, Adewole Adebayo, and the President of the Trade Union Congress (TUC), Festus Osifo, have locked horns over the contentious removal of petrol subsidies. The two leaders engaged in a fiery exchange during an interview on Channels Television’s Politics Today on Tuesday. The argument revolved around President Bola Tinubu’s

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Centre For Anti Corruption And Open Leadership Cacol

Anti-Corruption Body Urges President Tinubu to Broaden Subsidies and Revitalize Education

The Centre for Anti-Corruption and Open Leadership (CACOL) has recommended President Bola Tinubu expand subsidies to other vital economic sectors rather than remove fuel subsidies. CACOL also advocates for practical strategies to address Nigeria’s various challenges, such as establishing food banks and providing marketing boards to farmers. This advice was communicated on Wednesday in a

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Petrol Queues 1

Fuel Prices Skyrocket to N550 per litre in Anambra amid Business Closures

Most gas stations in Anambra State were closed on Tuesday, while those openly sold fuel at exorbitant prices ranging from N500 to N700 per litre. The cause of these closures is disputed, with some attributing it to the recognition of May 30 as Biafra Day, while others suggest it was a reaction to President Bola

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Festus Keyamo 3

Keyamo Refutes Claims that Tinubu Axed Fuel Subsidy

Festus Keyamo, the former Minister of State for Employment, characterised as mischievous the media reports suggesting that President Bola Tinubu is responsible for the removal of the fuel subsidy. On Tuesday, via his Twitter account, Keyamo articulated that Tinubu’s administration merely stepped into an era where the 2023 Appropriation Act and the Petroleum Industry Act,

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Abuja Fuel Queues 1

Abuja Encounters Fuel Crisis Following Fuel Subsidy Abolition

Ketti town residents in Lugbe District, Abuja, are grappling with a fuel scarcity crisis, as all petrol stations in the region ceased operations following the declaration by President Bola Tinubu to discontinue the fuel subsidy. This decision has sparked anxiety amongst Ketti’s population, struggling to procure fuel for their vehicles and generators. In the adjacent

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Nigerian House Of Representatives

House of Representatives Endorses President Tinubu’s Fuel Subsidy Removal Amid Calls for Patience

Fuel queues have reemerged nationwide following the presidential announcement of fuel subsidy removal. Yet, the House of Representatives stands firm in its support for President Bola Tinubu’s decision. On Tuesday, spurred by an urgent public importance motion introduced by member Jimoh Olajide, the House praised the President’s initiative. Furthermore, they implored the public to demonstrate

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Bola Ahmed Tinubu 2 1

Amid Fuel Crisis, President Tinubu Convenes High-Profile Meeting at Presidential Villa

Following his inauguration as the 16th President of Nigeria, President Bola Tinubu convened his first official meeting on Tuesday at the Presidential Villa, Abuja. Notable attendees included the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, and the Group Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), Mr Mele

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Petrol Queues 2

Soaring Petrol Prices: Subsidy Removal Leads to Commuter Chaos and Fuel Hike to N750

The aftereffects of President Bola Tinubu’s inaugural speech on Monday, announcing the termination of fuel subsidies, have swiftly rippled through Calabar. As a result, numerous filling stations have ceased operations, and those still functional have escalated the fuel prices from N210 to a staggering N750 per litre. Some investigations revealed that residents, unable to afford

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