Tag Archives: subsidy

I don?t have any regret removing petrol subsidy – Tinubu

I don?t have any regret removing petrol subsidy - Tinubu

President Bola Tinubu stated he has no regrets about removing the petrol subsidy during his first presidential media chat on Monday, December 24.    Tinubu emphasized that the subsidy was detrimental to Nigeria’s economic future, describing it as an unsustainable expenditure.   “Nigeria was spending its future and was not investing,” Tinubu said. “We were spending the fortune of our …

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Nigerians were living fake good life before fuel subsidy removal ?Tinubu

Nigerians were living fake good life before fuel subsidy removal ?Tinubu

President Bola Tinubu has said that the good life Nigerians were living before the removal of fuel subsidy was “fake” and capable of leading the country into a total economic collapse   On May 29, 2023, the day of his inauguration into office, Bola Tinubu announced the removal of the fuel subsidy.   The President said that the need to salvage the …

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FG?s electricity subsidy increases by 269%, rising from N650 billion in 2023 to an estimated N2.4 trillion in 2024

FG?s electricity subsidy increases by 269%, rising from N650 billion in 2023 to an estimated N2.4 trillion in 2024

The Federal Government’s electricity subsidy has surged by 269%, rising from ₦650 billion in 2023 to an estimated ₦2.4 trillion in 2024.    This increase comes despite the implementation of the Band A tariff service category in April, which was expected to reduce subsidy obligations by ₦1.14 trillion.   Dr Yusuf Ali, Commissioner for Planning, Research, and Strategy at the …

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Nigeria has saved $20bn from subsidy removal and Naira float policies – Edun

FG declares end of fuel and FX subsidies

Wale Edun, Nigeria’s minister of finance and coordinating minister of the economy, revealed that the country has saved $20 billion through the removal of petrol subsidies and the adoption of market-based foreign exchange pricing.   Edun made the disclosure during an event in Abuja marking the first 100 days in office of Esther Walso-Jack, head of the civil service of …

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Subsidy removal is best thing that happened to Nigeria ? Senator Sani Musa

Subsidy removal is best thing that happened to Nigeria ? Senator Sani Musa

Senator Sani Musa, Chairman of the Senate Committee on Finance, has described the removal of fuel subsidies as the “best thing that has happened” to Nigeria, stating that it allows market forces to set fuel prices more effectively.    During an interview on Channels TV’s Politics Today, Musa highlighted the importance of this move in addressing long-standing economic inefficiencies and …

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Tinubu sleeps by 5am, deserves credit for subsidy removal – Former Sports Minister, Sunday Dare

Tinubu sleeps by 5am, deserves credit for subsidy removal - Former Sports Minister,  Sunday Dare

The Special Adviser to President Tinubu on Public Communication and Orientation, Sunday Dare, has called for patience over President Bola Tinubu’s administration’s reforms, saying the Nigerian leader should be commended for his policies.    While speaking on Channels TV on Thursday evening October 31, Dare said President Tinubu should be given credit for doing what other presidents could not do. …

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Hajj fare to hits N10m as NAHCON announces end to subsidy

Hajj fare to hits N10m as NAHCON announces end to subsidy

The National Hajj Commission of Nigeria (NAHCON) has stated that the federal government will not subsidise hajj payment for pilgrims in 2025.    In a statement released, the spokesperson of the commission, Fatima Sanda Usara, said for the 2025 Hajj, “There will be no concessionary exchange rate from the government for Hajj fare payment for pilgrims whether under state or …

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Greta Thunberg detained at fossil fuel subsidy protest in Brussels

Greta Thunberg detained at fossil fuel subsidy protest in Brussels

Climate activist Greta Thunberg was among scores detained on Saturday after staging a sit-in protest demanding an end to EU subsidies for fossil fuels. ADVERTISEMENT Climate activist Greta Thunberg was arrested by Belgian police on Saturday as she demonstrated against fossil fuel subsidies by the European Union. The Swedish activist was joined by dozens of demonstrators from ‘United for Climate …

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