• Kano pays N460m accommodation subsidy for 2016 Hajj pilgrims

    Kano pays N460m accommodation subsidy for 2016 Hajj pilgrims

    The Kano State Government said it has paid N460 million accommodation subsidy for its 5,600 Hajj pilgrims to Saudi Arabia in 2016.

    The State’s Deputy Governor, Hafiz Abubakar, made this known while launching a training workshop for the state pilgrims in Kano on Saturday.

    Mr. Abubakar, a professor, said the state government found it necessary to pay the money in order to secure decent accommodation for the pilgrims.

    According to him, the state government had already secured houses for the pilgrims very close […]

  • Jonathan spent over N1.2trn on subsidy – Adams Oshiomhole

    Jonathan spent over N1.2trn on subsidy – Adams Oshiomhole

    Edo State Governor Adams Oshiomhole on Sunday berated the immediate past President, Dr. Goodluck Jonathan, for allegedly appropriating over N 1.2 trillion, more than half of the budget in his government, accounting for anger and frustration among Nigerians.

    He said the money spent by the former President Olusegun Obasanjo’s government on subsidy which he alleged was 20 billion naira was yearning for attention.

    According to him, “the last government under President Goodluck Jonathan quadrupled the number to N1.2 trillion. When your total […]

  • Osinbajo says new petrol price not issue of subsidy removal but forex problem

    Osinbajo says new petrol price not issue of subsidy removal but forex problem

    The Vice President, Prof. Yemi Osinbajo, on Friday, said that the new price regime of Premium Motor Spirit (PMS) was not that of subsidy removal but of foreign exchange (forex) problem. He made this known in a statement he issued in Abuja titled.

    “The Fuel Pricing Debate: Our Story”, stressing that “I have read the various observations about the fuel pricing regime and the attendant issues generated.

    “Certainly, all the issues have strong points but the most important issue is how to shield […]

  • FG can’t fund N3bn monthly solar power subsidy – Fashola, Minister of Power, Works

    FG can’t fund N3bn monthly solar power subsidy – Fashola, Minister of Power, Works

    Babatunde Fashola, Minister of Power, Works and Housing, has said the federal government will not be able to provide funds to subsidise solar power projects and consumption of its outputs, estimated to cost N3 billion monthly.

    The minister who met with about 14 solar power promoters in Nigeria in a renewed effort to clear challenges militating against investment in and use of solar power in the country, said about N3 billion has been calculated as the possible monthly fund the government […]

  • Breaking! FG announces removal of fuel subsidy, petrol now to sell for N145/litre

    Breaking! FG announces removal of fuel subsidy, petrol now to sell for N145/litre

    The Federal Government on Wednesday announced the removal of subsidy on Premium Motor Spirit,PMS, otherwise known as petrol, meaning that Nigerians will now have to buy the product for N145 per litre.

    Before now, the Vice President, Prof. Yemi Osinbajo and the Minister of state for petroleum resources, Dr. Ibe Kachikwu had hinted on the removal of the controversial subsidy which is believed to be the major cause of the crisis in the nation’s petroleum

  • Decision on subsidy removal is final – FG

    Decision on subsidy removal is final – FG

    According to reports reaching ADELOVE, the Federal Government, Monday, said it is not going back on its decision to remove subsidy from Premium Motor Spirit, also known as petrol.

    Specifically, the Petroleum Products Pricing Regulatory Agency, PPPRA, in a statement signed by its Acting Executive Secretary, Mrs. Sotonye Iyoyo, explained that what currently exists is the price modulation mechanism through which price of PMS is adjusted in line with market realities.

    She said, “Contrary to reports by a Section of the Nigerian […]

  • We save N100bn monthly from subsidy removal, says NNPC

    We save N100bn monthly from subsidy removal, says NNPC

    The Nigerian National Petroleum Corporation, NNPC, has said it has saved N100 billion monthly through subsidy removal.

    The Corporation said this in a statement released and signed by its Group General Manager Group Public Affairs Division, Garba Deen Mohammed while explaining NNPC’s move to end fuel scarcity.

    According to him, the Corporation has been able to manage prices at current levels through modulations, as a result, saving a whopping N100 billion monthly for the country.

    “We have been able to eliminate subsidy payments […]