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SUBSIDY REMOVAL
The Minister of finance Wale Edun has insisted that fuel subsidy removal is an ongoing process that depends...
The federal government has launched a 5.2 million standard cubic feet per day (mmscfd) Compressed Natural Gas (CNG) plant in Lagos in attempt to offer alternative fuel sources and mitigate the effects of petrol subsidy removal.
Industry key player and CEO of Rainoil Limited, Gabriel Ogbechie, has claimed that the federal government has resumed the payment of the controversial fuel subsidy following the devaluation of the Naira in the foreign exchange market.
The Niger State Government has officially disclosed that a fleet of 200 Compressed Natural Gas (CNG) powered buses, recently acquired, will soon commence public transportation operations across the state.
Grace, a commuter on a Danfo bus was seen on Sunday, March 10 eating fufu and moin moin, a popular Nigerian bean pudding.
The Nigerian National Petroleum Company Limited (NNPCL) said that within the next ten years, the energy shortages plaguing the nation will be resolved.
The disbursement from the Federal Accounts Allocation Committee (FAAC) to the federal government, states and local government in 2023 reached N15.1 trillion representing an increase of 29.05% when compared to the figure for 2022.
Kunle Salako says the move made during Tinubu's administration to eliminate fuel subsidies caused 33% decrease in fuel consumption rate.
Fuel prices in Nigeria have risen by 150% to 200% following the removal of fuel subsidies, leading to skyrocketing energy costs.
PricewaterhouseCoopers International Limited suggests that the federal government should increase the minimum wage as a palliative response to the rise in fuel pump prices.
Two members of the CBN "MPC" requested for the benchmark Central Bank Monetary Policy Rate "MPR" of 13.5% to be cut to 13.25%.
The Minister of State for Petroleum Resources, @IbeKachikwu, on Tuesday, said the landing cost of Premium Motor Spirit, also known as petrol, is now higher than the pump price of N145 per litre.