Tag
FUEL SUBSIDY
News and analysis about fuel subsidy
Data from the Major Oil Marketers Association of Nigeria (MOMAN) shows that Nigeria maintains the lowest fuel pump prices compared to neighbouring African countries.
The representatives of the federal government and various stakeholders announced that discussions regarding fuel subsidy removal palliatives will be concluded within a span of eight weeks.
NEC has announced that salaries and natural gas alternatives are being considered as palliatives in response to the removal of fuel subsidy.
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari has said that the new president is planning to offer Nigerians alternatives to petrol.
Financial analysts at Coronation Research explained why the impact of fuel subsidy removal will affect listed companies across board.
President Asiwaju Bola Tinubu has directed Vice-President Shettima-led National Economic Council (NEC) to quickly fashion out a modus operandi for distributing palliatives to ameliorate the effects of the fuel subsidy removal on Nigerians.
The Nigerian President, Bola Tinubu disclosed that savings from the end of fuel subsidy would be accrued to the Federation Account after the Nigerian Governors’ Forum (NGF) declared support for the end of the fuel subsidy regime in Nigeria.
Funso Doherty has said that although he agrees with the fuel subsidy removal, Lagos state will most likely be hit hardest following the implementation of the policy.
PricewaterhouseCoopers Limited has taken a stance on the feasibility of compressed natural gas (CNG) as an alternative to fuel in the short to medium term.
The Presidential candidate for the Labour Party, Peter Obi disclosed that forceful removal of the fuel subsidy by the FG is not an advisable way to remove subsidy due to the pains it has caused the Nigerian masses.
The new Chief of Staff, Femi Gbajabiamila has stated that the FG and trade unions will establish a joint committee to review the proposal for any wage increase or award and establish a framework and timeline for implementation.
Nigeria’s Trade Union Congress (TUC) and officials of the Nigerian Government agreed to continue talks on fuel subsidy this week, after a closed-door meeting on Sunday.