It was gathered that the deregulation of the downstream oil sector and the increase in the pump price of Premium Motor Spirit from N86.5 per litre to N145 have led to the reduction in the consumption of the product by 30 per cent across the country, the Federal Government has said.
This is coming as the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, formally handed over the position of Group Managing Director of the Nigerian National Petroleum Corporation to […]
The General Overseer of the Latter Rain Assembly and Convener of the Save Nigeria Group, which spearheaded the 2012 protests against the removal of fuel subsidy by the administration of former president Goodluck Jonathan, Pastor Tunde Bakare, has explained why he and members of the group have not opposed the fuel price hike of the President Muhammad Buhari administration.
In a state of the nation broadcast Sunday at his church, Latter Rain Assembly, Lagos, titled “Voice of My Conscience,” the address […]
National President of the Academic Staff Union of Universities (ASUU), Professor Biodun Ogunyemi has declared indefinite strike over the increment of fuel pump price.
The union said the government should revert the oil price to N86 per litre. The letter sent to members of the congress nationwide was read at the University of Ibadan Chapter, where the Chairman, Dr Deji Omole mobilized members to get ready for mass resistance to what he called the obnoxious and callous policy of fuel price […]
According to reports, the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, has said the federal government would have had to shop for N16.4 billion every month to offset subsidy claims of petrol marketers if it had not taken the decision to remove subsidy on fuel consumption.
Kachikwu explained in a tweet on his twitter handle @ibekachikwu that as at the time the government made the decision to end subsidy on petrol and subsequently hiked the pump price, it […]
Femi Gbajabiamila, Majority Leader of the House of Representatives, who was one of the strong opponents of the fuel subsidy removal in the past, has given reasons why he along with some others are in support of it now.
Gbajabiamila, in an open letter to Nigerians, said based on the facts and figures presented to them by the Minister of State for Petroleum, Ibe Kachukwu, at the meeting where the decision was taken on Wednesday, if the subsidy was not removed, […]
An Economist, Prof. Hassan Oakhenan, has said complete removal of petrol subsidy could lead to sustainable solution to the crisis in the sector.
Hassan said this on Friday in Awka. Hassan, who teaches at the University of Benin, said the policy could be of long term benefit to the economy if it was effectively and sincerely implemented.
He said the Federal Government should harness and formalise the local refining technology spread across the Niger Delta instead of criminalising their activities.
He said if […]
Dr Orji Kalu, Former Governor of Abia State and astute entrepreneur, has commended President Muhammadu Buhari for removing the subsidy on fuel.
Kalu declared that the subsidy was beneficial to a cabal in the oil sector and greatly disadvantageous to the majority of Nigerians.
He said: “Recall that in my congratulatory message to President Buhari when he was being sworn in, I pleaded with him to jump-start the economy by removing the subsidy on fuel as it had been abused over the […]
Reverse your decision on subsidy removal within 7 days or face mother-of-all protest – Melaye dares Buhari
The Senator representing Kogi West Senatorial District, Sen. Dino Melaye, Thursday, called on President Muhammadu Buhari to rescind his decision on fuel subsidy withdrawal within 7 days or face what he called mother-of-all protest.
Melaye equally urged the National Chairman of his party, the All Progressives Congress, APC, Chief Odigie Oyegun, to prevail on the Buhari-led Federal government to do the needful.
Melaye took to his Facebook page threatening that if after seven days (from Monday next week) there is no reversal, […]