The Dangote Petroleum Refinery has sold out its jet fuel supply to European markets for August and September, with the remaining stock reserved for Nigeria. Chairman of Dangote Petroleum and Petrochemical Limited, Aliko Dangote, disclosed this on Monday September 14 during the formal launch of the refinery’s initial public...
fuel subsidy
The African Democratic Congress, ADC, has warned President Bola Ahmed Tinubu that his government’s economic policy is pushing Nigerians “dangerously close to the limits of human endurance.” In a statement signed by Mallam Bolaji Abdullahi, the ADC National Publicity Secretary, the party said that with petrol now selling for...
The price of Premium Motor Spirit (PMS), commonly known as petrol, has risen further in Abuja following an upward adjustment in the wholesale price of the product by Dangote Petroleum Refinery. The refinery increased its gantry price from N1,265 to N1,350 per litre, representing an N85 or 6.7 per...
Media aide to former Vice President Atiku Abubakar, Paul Ibe, has defended his principal’s production-anchored fuel subsidy proposal, urging former Ekiti State Governor Kayode Fayemi to address the economic substance of the policy rather than dismiss it as electioneering politics. In a statement shared on Tuesday, Ibe faulted Fayemi’s...
Campaigns for the 2027 general elections are off to a predictably shameful start. Those who expected novelty are in shock. Others who expected depth of insight may yet embrace disappointment. The lead contestants for the office of president are already sounding like cracked vinyl records in an annoying echo...
Human rights activist and presidential candidate of the African Action Congress (AAC), Omoyele Sowore, has renewed his criticism of former Vice President Atiku Abubakar over the long-standing debate on fuel subsidy removal, insisting that his own opposition to the policy dates back to 1989. Sowore made the remarks in...
The Presidency has criticised former Vice President Atiku Abubakar over what it described as conflicting positions on petrol subsidy, accusing the 2023 presidential candidate of sending mixed signals on a key economic policy. In a statement issued on Wednesday, Special Adviser to the President on Information and Strategy, Bayo...
Former Vice President, Atiku Abubakar, has reaffirmed his commitment to restoring fuel subsidy if elected president in 2027, arguing that Nigeria has the resources to shield its citizens from economic hardship. Atiku, who is the African Democratic Congress (ADC) presidential hopeful, made the declaration in a post shared on...
Former Vice President and Presidential Candidate of the African Democratic Congress (ADC), Atiku Abubakar, has clarified that his proposed petroleum intervention is not a return to Nigeria’s discredited import-subsidy regime, but targeted support for domestic production designed to reduce the cost of living. In a statement issued on Tuesday...
Former Senator Ben Murray-Bruce has opposed calls for the return of Nigeria’s fuel subsidy, insisting that the policy failed the country for decades and should not be revived. Reacting to recent comments by former Vice President Atiku Abubakar, Murray-Bruce argued that restoring the subsidy would only revive corruption and...
Presidency has strongly criticised former Vice President Atiku Abubakar’s proposal to restore petrol subsidy if elected president, describing the plan as economically unsustainable, legally complicated and driven by political desperation rather than sound fiscal policy. In a statement issued on Thursday by the Special Adviser to the President on...
Nigeria could have spent as much as N53 trillion on petrol subsidies and seen the naira depreciate to about N3,500 to the dollar if the Federal Government had not removed the subsidy regime and unified the foreign exchange market, the Executive Chairman of the Nigeria Revenue Service (NRS), Dr...
Minister of the Federal Capital Territory (FCT), Barr. Nyesom Wike, has declared that President Bola Tinubu remains the only credible leadership option for Nigeria, insisting that no other potential presidential contender has demonstrated the courage or capacity to confront the country’s long-standing economic challenges. Speaking at his monthly media...
Federal Competition and Consumer Protection Commission (FCCPC) has expressed concern over findings from its ongoing surveillance of the downstream petroleum market, which suggest that consumers are being exploited despite the significant decline in global crude oil prices. In a statement issued on Sunday by the Director, Corporate Affairs, Ondaje...
Federal Government of Nigeria has dismissed reports suggesting it has approved or is considering new taxes on telecommunications services and petroleum products. The clarification followed media reports linking such measures to recommendations contained in the International Monetary Fund (IMF) Article IV Consultation Report on Nigeria. According to the government,...
President Bola Ahmed Tinubu has said the removal of fuel subsidy by his administration saved the country from imminent bankruptcy and laid the foundation for the gradual recovery of the nation’s economy. He spoke on Friday when he hosted state governors who came to celebrate with him the Sallah...
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against Nigeria’s governors and the Minister of the Federal Capital Territory, Abuja, Mr Nyesom Wike “over their failure to account for the spending of the N14trn fuel subsidy savings they collected from Federation Account Allocation Committee (FAAC) allocations, including...
The member representing Askira- Uba/ Hawul Federal Constituency in Borno State, Hon. Dr Midala Balami has called for a thorough investigation over the brewing dispute between Dangote Refinery and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Speaking to Journalists in Maiduguri after Tuesday plenary where the Lawmaker...
Minister of the Federal Capital Territory, FCT, Nyesom Wike, on Thursday said President Bola Tinubu took a bold decision in removing the fuel subsidy. Wike noted that, despite initial public outcry over the decision, conditions have begun to stabilise. He made the remarks while delivering the keynote address at...
Socio-Economic Rights and Accountability Project (SERAP) has issued a strong warning to Nigeria’s 36 state governors and the Minister of the Federal Capital Territory (FCT), Mr. Nyesom Wike, demanding they publicly account for the estimated N14 trillion in fuel subsidy savings received through FAAC allocations — or face legal...