Tag
FUEL SUBSIDY
News and analysis about fuel subsidy
Madaki Ameh, the managing partner at BBH Consulting, has said that reducing unit operating expenses (OPEX) per barrel when getting oil from the ground in Nigeria, will reduce fuel pump prices.
NLC has conveyed its plans for an impending industrial action, which could kick off as early as next week.
In the wake of the National Labour Congress (NLC) strike over increasing hardship and suffering caused by the removal of the subsidy, a growing number of Nigerians are advocating for the rich to pay more taxes to fund relief for the masses.
Lagos State Governor, Mr Babajide Sanwo-Olu, initiated the distribution of food supplies to 500,000 vulnerable households in the state on Sunday to mitigate the impacts of fuel subsidy removal.
Staff members as well as service providers of Shell Petroleum Development Company (SPDC) in Port Harcourt, Rivers state have on Tuesday, August 15, begun a warning strike for higher salaries.
The Presidency has revealed that Nigeria is currently the only country in West Africa enjoying the cheapest and most affordable price of fuel by some distance.
The presidency has officially declared that there will be no increase in petroleum product prices at the present moment.
The recent decision by President Bola Tinubu's administration to remove fuel subsidies has sent ripples through various sectors of the Nigerian economy.
Following the removal of the long-standing fuel subsidy and the unification of the various official FX windows by the new administration, the global rating company S&P Globa Ratings revised the outlook on Nigeria from negative to stable.
Organised labour groups have called on the Federal Government to lead negotiations on the petroleum subsidy removal to cushion its effects on workers and other Nigerians.
Governor Dapo Abiodun has said that The Ogun State Government would provide electric-powered motorbikes to residents.
President Bola Tinubu has said that the Federal Government is receiving support and commendations from the global communities over the removal of fuel subsidies.