Tag Archives: subsidy

Nigerians have taken to social media to react to the decision by the Kano state governor, Abba Yusuf, to subsidize the air fare to intending pilgrims from the state to perform Hajj in Saudi Arabia.   In a post shared on his handle this afternoon March 27, Governor Yusuf stated …

President Bola Tinubu has said that smugglers and beneficiaries of the old petrol subsidy are fighting back against his effort to reposition the country’s economy.    Tinubu who had a meeting with the Forum of State Chairmen of the All Progressives Congress (APC) at the State House in Abuja on …

In a bid to deregulate the downstream sector in line with the provisions of the Petroleum Industry Act (PIA), Tinubu announced the end of the subsidy regime during his inaugural speech on May 29, 2023. The decision instantly led to an astronomical increase in fuel pump prices, which suggested that …

Femi Gbajabiamila, Chief of Staff to President Bola Tinubu, has promised Nigerians that they will soon reap the benefits of subsidy removal.    Speaking to journalists after casting his vote at Poling Unit 014, Ward 08 at Elizabeth Fowler Memorial School, Surulere, Lagos state, in the House of Representatives bye-election …

President Tinubu has said that despite the pains Nigerians are experiencing as a result of the removal of fuel subsidy, things will get better.    The President gave the assurance in Imo state where he attended the inauguration of the state governor for a second term on Monday, January 15. …

The Minister of Power, Adebayo Adelabu, says the Federal government has so far spent N700 billion to subsidize electricity.    According to Adelabu, the Federal Government still subsidises electricity because the current tariff DISCOs are allowed to charge is not cost-reflective.   The Minister made this known during his official …

  The Federal Government has rejected claims by the World Bank that government is still paying subsidy on petrol, saying the era of petrol subsidy is “gone for good”. Speaking in an interview on Channels TV on Thursday, December 14, Minister of Information and National Orientation, Mohammed Idris, said President …

The Federal government has dismissed reports claiming it has restored subsidy for premium motor spirit (PMS), also known as petrol. Oil marketers and a section of organized Labour have recently alleged that the government had restored the subsidy, contrary to its earlier resolve, claiming that with the removal of the …

The World Bank has warned the central banks of Nigeria, Ethiopia, and Uganda to avoid taking any actions that might conflict with their monetary policies.   The World Bank lists these measures as “monetizing the fiscal deficit, direct lending interventions, untargeted subsidy programs, and foreign exchange controls.”   The World …

Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, has disclosed that N2 billion has so far been released to each state government from the N5 billion earmarked for palliative in light of the removal of fuel subsidy.   Edun revealed this at a meeting on Friday, …