Subsidy – InfoStride News https://www.theinfostride.com Breaking News, Nigeria News and Top Stories Tue, 27 Jan 2026 23:33:37 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.theinfostride.com/wp-content/uploads/2015/07/cropped-The-InfoStride-Favicon-150x150.png Subsidy – InfoStride News https://www.theinfostride.com 32 32 N4tn Subsidy Savings Channeled to Infrastructure – Tinubu https://www.theinfostride.com/n4tn-subsidy-savings-channeled-to-infrastructure-tinubu/ https://www.theinfostride.com/n4tn-subsidy-savings-channeled-to-infrastructure-tinubu/#respond Thu, 22 Jan 2026 23:23:17 +0000 https://www.theinfostride.com/?p=461375   President Bola Ahmed Tinubu has said that the Nigerian government has redirected about N4 trillion saved from the removal of fuel subsidies to critical infrastructure and social welfare programmes aimed at easing the burden on ordinary Nigerians and stimulating the economy. Speaking at the opening of the National Conference on Public Accounts and Fiscal [...]

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]]> https://www.theinfostride.com/n4tn-subsidy-savings-channeled-to-infrastructure-tinubu/feed/ 0 Electricity Subsidy Surges 220%, Nears ₦2 Trillion Mark https://www.theinfostride.com/electricity-subsidy-surges-220-nears-%e2%82%a62-trillion-mark/ https://www.theinfostride.com/electricity-subsidy-surges-220-nears-%e2%82%a62-trillion-mark/#respond Fri, 18 Jul 2025 09:33:58 +0000 https://www.theinfostride.com/?p=462302 Nigeria’s electricity subsidy burden has ballooned significantly, rising by a staggering 220 percent to nearly ₦2 trillion in 2024. This development has raised widespread concerns about the sustainability of government interventions in the power sector and reignited calls for urgent reforms to ensure financial viability and service reliability. The sharp increase from ₦610 billion in [...]

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]]> https://www.theinfostride.com/electricity-subsidy-surges-220-nears-%e2%82%a62-trillion-mark/feed/ 0 Spending Over $8 Billion On Subsidy Doesn’t Make Any Sense – Cynthia Morgan https://www.theinfostride.com/spending-over-8-billion-on-subsidy-doesnt-make-any-sense-cynthia-morgan/ https://www.theinfostride.com/spending-over-8-billion-on-subsidy-doesnt-make-any-sense-cynthia-morgan/#respond Sun, 30 Mar 2025 14:00:53 +0000 https://www.theinfostride.com/?p=406814 Popular singer, Cynthia Morgan has come out to speak about the country’s economic challenges. She recently urged the government to reconsider its decision on fuel subsidy removal, and fans have been reacting. According to her, even if it is quite unfortunate that we might not be able to do much other than plead with the [...]

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]]> https://www.theinfostride.com/spending-over-8-billion-on-subsidy-doesnt-make-any-sense-cynthia-morgan/feed/ 0 Electricity Subsidy Reaches ₦1.91 Trillion in 11 Months https://www.theinfostride.com/electricity-subsidy-reaches-%e2%82%a61-91-trillion-in-11-months/ https://www.theinfostride.com/electricity-subsidy-reaches-%e2%82%a61-91-trillion-in-11-months/#respond Mon, 25 Nov 2024 20:55:48 +0000 https://www.theinfostride.com/?p=395663 The Federal Government’s electricity subsidy expenditure surged to ₦1.91 trillion in the first 11 months of 2024, according to industry reports. This significant financial outlay underscores the challenges of maintaining affordable energy tariffs amid rising generation costs and inefficiencies in the power sector. The subsidy, aimed at bridging the gap between the cost of electricity [...]

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]]> https://www.theinfostride.com/electricity-subsidy-reaches-%e2%82%a61-91-trillion-in-11-months/feed/ 0 Fuel Subsidy Ended in 2023, Presidency Clarifies After N5.4trn Claims https://www.theinfostride.com/fuel-subsidy-ended-in-2023-presidency-clarifies-after-n5-4trn-claims/ https://www.theinfostride.com/fuel-subsidy-ended-in-2023-presidency-clarifies-after-n5-4trn-claims/#respond Thu, 06 Jun 2024 20:53:29 +0000 https://www.theinfostride.com/?p=379944 The presidency has refuted claims regarding documents suggesting ongoing N5.4 trillion fuel subsidy expenditures, emphasizing that the costly venture ceased on the day President Bola Tinubu declared its end. Bayo Onanuga, the special adviser to the president on Information and Strategy, clarified in a Thursday post on his X account that the viral documents were [...]

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]]> https://www.theinfostride.com/fuel-subsidy-ended-in-2023-presidency-clarifies-after-n5-4trn-claims/feed/ 0 Electricity subsidy removal calls intensify amid rising industry debts https://www.theinfostride.com/electricity-subsidy-removal-calls-intensify-amid-rising-industry-debts/ https://www.theinfostride.com/electricity-subsidy-removal-calls-intensify-amid-rising-industry-debts/#respond Fri, 22 Mar 2024 02:04:14 +0000 https://www.theinfostride.com/?p=373678 There are concerns among Nigerians that further increases in electricity tariffs could worsen their economic situation, although the government and operators have consistently called for cost-reflective tariffs, write DARE OLAWIN As it happened with fuel subsidy, the government and major players in the power sector have all agreed on the need to allow customers to [...]

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]]> https://www.theinfostride.com/electricity-subsidy-removal-calls-intensify-amid-rising-industry-debts/feed/ 0 Federal Government’s Electricity Subsidy Set to Surge by 170%, Reaching N1.67 Trillion in 2024 https://www.theinfostride.com/federal-governments-electricity-subsidy-set-to-surge-by-170-reaching-n1-67-trillion-in-2024/ https://www.theinfostride.com/federal-governments-electricity-subsidy-set-to-surge-by-170-reaching-n1-67-trillion-in-2024/#respond Thu, 18 Jan 2024 23:04:01 +0000 https://www.theinfostride.com/?p=367921 In a notable financial development, the Federal Government is poised to witness a substantial increase in its electricity subsidy, projected to rise by 170%. The anticipated surge is expected to culminate in a total subsidy amount of N1.67 trillion in the year 2024. This significant increment in the electricity subsidy underscores the government’s commitment to [...]

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]]> https://www.theinfostride.com/federal-governments-electricity-subsidy-set-to-surge-by-170-reaching-n1-67-trillion-in-2024/feed/ 0 Tinubu Encourages Nigerians, Saying Subsidy Removal Places Us on the Brink of Economic Recovery https://www.theinfostride.com/tinubu-encourages-nigerians-saying-subsidy-removal-places-us-on-the-brink-of-economic-recovery/ https://www.theinfostride.com/tinubu-encourages-nigerians-saying-subsidy-removal-places-us-on-the-brink-of-economic-recovery/#respond Tue, 16 Jan 2024 10:54:20 +0000 https://www.theinfostride.com/?p=367428 In a message to the Nigerian populace, Tinubu expresses optimism, stating that the removal of subsidies positions the nation on the cusp of an economic recovery. This message reflects a positive outlook on the potential benefits of subsidy removal for the overall economic landscape. Tinubu’s statement suggests a belief that the removal of subsidies is [...]

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]]> https://www.theinfostride.com/tinubu-encourages-nigerians-saying-subsidy-removal-places-us-on-the-brink-of-economic-recovery/feed/ 0 Sanwo-Olu: Subsidy Removal to Save Nigeria $2.5 Billion https://www.theinfostride.com/sanwo-olu-subsidy-removal-to-save-nigeria-2-5-billion/ https://www.theinfostride.com/sanwo-olu-subsidy-removal-to-save-nigeria-2-5-billion/#respond Sat, 18 Nov 2023 17:09:00 +0000 https://www.theinfostride.com/?p=361007 InfoStride News reported that Lagos Governor Babajide Sanwo-Olu highlighted President Bola Tinubu’s bold move to eliminate fuel subsidies, estimating it could save Nigeria approximately $2.5 billion in budgetary expenses. Sanwo-Olu commended the President’s political will, emphasizing the potential redirection of these funds towards critical sectors like education, health, and poverty reduction. In an interview with [...]

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]]> https://www.theinfostride.com/sanwo-olu-subsidy-removal-to-save-nigeria-2-5-billion/feed/ 0 House of Reps embarks on $20 billion petrol subsidy audit for recovery https://www.theinfostride.com/house-of-reps-embarks-on-20-billion-petrol-subsidy-audit-for-recovery/ https://www.theinfostride.com/house-of-reps-embarks-on-20-billion-petrol-subsidy-audit-for-recovery/#respond Sat, 04 Nov 2023 19:17:20 +0000 https://www.theinfostride.com/?p=359429 InfoStride News reported on November 3 that the Nigerian House of Representatives, under the leadership of Honorable Ikeagwuonu Ugochinyere, the Chairman of the House Committee on Petroleum Resources (Downstream), is set to embark on a comprehensive audit of petrol subsidies in an effort to recover approximately $20 billion in lost revenues. This decision comes as [...]

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]]> https://www.theinfostride.com/house-of-reps-embarks-on-20-billion-petrol-subsidy-audit-for-recovery/feed/ 0 Federal Government Launches Lagos Pilot P-CNGi Conversion Centers, Marking Subsidy Removal Efforts https://www.theinfostride.com/federal-government-launches-lagos-pilot-p-cngi-conversion-centers-marking-subsidy-removal-efforts/ https://www.theinfostride.com/federal-government-launches-lagos-pilot-p-cngi-conversion-centers-marking-subsidy-removal-efforts/#respond Sun, 29 Oct 2023 22:36:44 +0000 https://www.theinfostride.com/?p=358765 The Presidential CNG Initiative (P-CNGi) has taken a significant step towards diversifying the transportation sector in Nigeria, with the official launch of a pilot conversion center for Compressed Natural Gas (CNG) vehicles in Lagos State. This initiative aligns with the federal government’s efforts to mitigate the effects of subsidy removal on fuel prices and contribute [...]

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]]> https://www.theinfostride.com/federal-government-launches-lagos-pilot-p-cngi-conversion-centers-marking-subsidy-removal-efforts/feed/ 0 Subsidy Palliative: BudgIT Calls for Transparency and Accountability in Funds Distribution https://www.theinfostride.com/subsidy-palliative-budgit-calls-for-transparency-and-accountability-in-funds-distribution/ https://www.theinfostride.com/subsidy-palliative-budgit-calls-for-transparency-and-accountability-in-funds-distribution/#respond Thu, 24 Aug 2023 22:54:22 +0000 https://www.theinfostride.com/?p=353459 BudgIT, a civic-tech organization leading the advocacy for transparency, accountability, and effective service delivery in Nigeria, calls for openness and accountability concerning the distribution of the five billion naira relief fund approved by the Nigerian Federal Government to state governments. The recent economic crisis and escalating cost of living nationwide, particularly in essential commodities such [...]

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]]> https://www.theinfostride.com/subsidy-palliative-budgit-calls-for-transparency-and-accountability-in-funds-distribution/feed/ 0 It’s impossible for Nigeria to consume up to 70 million liters a day Says Saraki https://www.theinfostride.com/its-impossible-for-nigeria-to-consume-up-to-70-million-liters-a-day-says-saraki/ https://www.theinfostride.com/its-impossible-for-nigeria-to-consume-up-to-70-million-liters-a-day-says-saraki/#respond Mon, 14 Mar 2022 22:45:37 +0000 https://www.theinfostride.com/?p=320565 Former Senate President, Bukola Saraki has challenged the Federal Government’s plans to spend on Petrol subsidy based on 70 million liters a day consumption, stating that Nigeria’s fuel consumption cannot be more than 35 million liters a day, and hinted that Nigeria could be subsidizing fuel for neighboring West African states. This comes as President [...]

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]]> https://www.theinfostride.com/its-impossible-for-nigeria-to-consume-up-to-70-million-liters-a-day-says-saraki/feed/ 0 NLC says increase in fuel price will affect transport costs, food prices https://www.theinfostride.com/nlc-says-increase-in-fuel-price-will-affect-transport-costs-food-prices/ https://www.theinfostride.com/nlc-says-increase-in-fuel-price-will-affect-transport-costs-food-prices/#respond Sun, 23 Jan 2022 22:07:22 +0000 https://www.theinfostride.com/?p=317188 The Nigerian Labour Congress has warned that the planned removal of fuel subsidy and subsequent increase in fuel price will affect every facet of life, including transportation, cost of food items, clothing, housing and others. This was made known by Mr Ikechukwu Nwafor, NLC chairman in Ebonyi, in an interview with the News Agency of [...]

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]]> https://www.theinfostride.com/nlc-says-increase-in-fuel-price-will-affect-transport-costs-food-prices/feed/ 0 Subsidy severely draining Nigeria’s economy says Minister of finance https://www.theinfostride.com/subsidy-severely-draining-nigerias-economy-says-minister-of-finance/ https://www.theinfostride.com/subsidy-severely-draining-nigerias-economy-says-minister-of-finance/#respond Tue, 16 Nov 2021 18:43:26 +0000 https://www.theinfostride.com/?p=312867 Minister of finance, budget and national planning, Mrs Zainab Ahmed, has established petroleum under-recovery popularly known as fuel subsidy as a major drain on the nation’s economy, which ought to have been totally removed from the system to free up money for critical sectors like health and education. She said, “It is a major waste, [...]

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]]> https://www.theinfostride.com/subsidy-severely-draining-nigerias-economy-says-minister-of-finance/feed/ 0 Petrol subsidy looking to rise to N3 trillion annually under current market realities says PPMC https://www.theinfostride.com/petrol-subsidy-looking-to-rise-to-n3-trillion-annually-under-current-market-realities-says-ppmc/ https://www.theinfostride.com/petrol-subsidy-looking-to-rise-to-n3-trillion-annually-under-current-market-realities-says-ppmc/#respond Thu, 28 Oct 2021 21:55:18 +0000 https://www.theinfostride.com/?p=311445 The Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) has alarmed the government that the annual subsidy on Premium Motor Spirit (petrol) could rise to N3 trillion if the current market realities continues. The Managing Director, PPMC, Mr Isiyaku Abdullahi, said this at a panel session during the 15th [...]

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]]> https://www.theinfostride.com/petrol-subsidy-looking-to-rise-to-n3-trillion-annually-under-current-market-realities-says-ppmc/feed/ 0 It’s not right to pay petrol subsidy from federation account https://www.theinfostride.com/its-not-right-to-pay-petrol-subsidy-from-federation-account/ https://www.theinfostride.com/its-not-right-to-pay-petrol-subsidy-from-federation-account/#respond Wed, 27 Oct 2021 22:15:23 +0000 https://www.theinfostride.com/?p=311375 Former Emir of Kano, Alhaji Muhammad Sanusi II, has disclosed that the federal government is indulging in illegality by paying petroleum subsidy from the federation account. The former Central Bank of Nigeria (CBN) governor spoke virtually as a panellist on Sustainable Development Goals (SDGs) at the just concluded Nigerian Economic Summit held in Abuja. He [...]

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]]> https://www.theinfostride.com/its-not-right-to-pay-petrol-subsidy-from-federation-account/feed/ 0 Oil price: Experts dismiss gains as subsidy nears N200bn https://www.theinfostride.com/oil-price-experts-dismiss-gains-as-subsidy-nears-n200bn/ https://www.theinfostride.com/oil-price-experts-dismiss-gains-as-subsidy-nears-n200bn/#respond Mon, 14 Jun 2021 22:12:17 +0000 https://www.theinfostride.com/?p=297252 After the international crude oil benchmark, Brent advanced above $70 as the PUNCH reported earlier in the month, industry experts see meagre benefits as subsidy payments gulp revenues.   The Federal Account Allocation Committee report for May, value shortfall, representing the amount the NNPC paid for subsidy, showed that the March receipts amounted to N111.97bn, [...]

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]]> https://www.theinfostride.com/oil-price-experts-dismiss-gains-as-subsidy-nears-n200bn/feed/ 0 How to end fuel subsidy dilemma, by Kyari. https://www.theinfostride.com/how-to-end-fuel-subsidy-dilemma-by-kyari/ https://www.theinfostride.com/how-to-end-fuel-subsidy-dilemma-by-kyari/#respond Thu, 10 Jun 2021 23:05:23 +0000 https://www.theinfostride.com/?p=296820 Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has declared that the country can no longer sustain subsidy, insisting that the corporation has been burdened by the fuel subsidy dilemma even without budgetary provisions. He made the assertion, yesterday, when he appeared before the Senate Committee on Anticorruption and Financial Crimes [...]

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]]> https://www.theinfostride.com/how-to-end-fuel-subsidy-dilemma-by-kyari/feed/ 0 World Trade Organisation Conduct Assessment On Subsidy Programmes https://www.theinfostride.com/world-trade-organisation-conduct-assessment-on-subsidy-notification/ https://www.theinfostride.com/world-trade-organisation-conduct-assessment-on-subsidy-notification/#respond Sat, 31 Oct 2020 05:29:43 +0000 https://www.theinfostride.com/?p=273123 The assessment submitted by the chairperson of the World Trade Organization’s Committee on Subsidies and Countervailing Measures,Michèle Legault Dooley, reveals that the World Trade Organization members continue to default in meeting their obligations to notify the organization of their subsidy programmes.   According to Michèle Legault Dooley even though efforts have been made to enable [...]

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]]> https://www.theinfostride.com/world-trade-organisation-conduct-assessment-on-subsidy-notification/feed/ 0 Subsidy Should Be Removed – Ovie Omo-Agege https://www.theinfostride.com/subsidy-should-be-removed-ovie-omo-agege/ Wed, 31 Jul 2019 08:54:00 +0000 https://www.theinfostride.com/?p=236345 Deputy President of the Senate, Senator Ovie Omo-Agege has disclosed that Nigeria has to stop the multibillion Naira oil subsidy regime. According to Ovie, it is vital for Nigeria to tackle the lingering problem of inadequate refined oil production to meet up with local consumption, as this was a way to solve the country’s weak [...]

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]]> Nigeria Should End Fuel Subsidy – IMF https://www.theinfostride.com/nigeria-should-end-fuel-subsidy-imf/ Fri, 12 Apr 2019 12:23:07 +0000 https://www.theinfostride.com/?p=230921 The International Monetary Fund (IMF) has advised Nigeria and other nations still subsidising fuel for domestic use to refrain from such act. The IMF said fuel subsidy removal would help develop revenue and improve on local infrastructure development. The IMF President, Christine Lagarde, shed light this yesterday in Washington DC at a news conference during [...]

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]]> It Was During Abacha’s Time That The Real Subsidy Started – Donald Duke https://www.theinfostride.com/it-was-during-abachas-time-that-the-real-subsidy-started-donald-duke/ Thu, 19 Jul 2018 14:18:49 +0000 https://www.theinfostride.com/?p=211384 Donald Duke has shared stories of power and trepidation during the dark days of the military era. Duke described how ministers quaked in their boots before Abacha inside the presidential villa. “It was during this time that we really let our refineries go under and we just went into unbridled importation of petroleum products”. “Of [...]

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]]> My Administration Is Not Paying Any Subsidy – Buhari https://www.theinfostride.com/my-administration-is-not-paying-any-subsidy-buhari/ Tue, 24 Oct 2017 17:25:16 +0000 http://www.theinfostride.com/?p=186397 President Muhammadu Buhari has reacted to comments by former president that the federal government is deploying lies and propaganda on a professional level. The President noted that despite saving the country billions from subsidy, petroleum products are readily available across the country. “Those who accused this administration of ‘propaganda and lies’ in the fuel supply [...]

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]]> Is Petrol Subsidy Back? https://www.theinfostride.com/is-petrol-subsidy-back/ Sat, 18 Feb 2017 10:53:17 +0000 http://www.theinfostride.com/?p=156914 Petrol subsidy is back. The Nigerian National Petroleum Corporation has been offsetting for months the difference between the landing costs of petrol and the pump price. In series of interviews with knowledgeable players in the sector, NAN can report authoritatively that the landing costs per litre of petrol is higher than the price Nigerians pay [...]

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]]> FG Has Saved $15.4b After Fuel Subsidy Removal – Kachikwu https://www.theinfostride.com/fg-has-saved-15-4b-after-fuel-subsidy-removal-kachikwu/ Wed, 30 Nov 2016 13:16:37 +0000 http://www.theinfostride.com/?p=149647 The Minister of state for petroleum, Ibe Kachikwu has revealed that the Federal Government saved $15.4b as a result of removing fuel subsidy. The minister also thanked members of the House of Reps for supporting the price modulation template when it was introduced. According to Punch, Kachikwu said this while meeting with the House committee [...]

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]]> I Will Be Hard On Corruption – Buhari https://www.theinfostride.com/i-will-be-hard-on-corruption-buhari/ Sun, 16 Oct 2016 20:16:23 +0000 http://www.theinfostride.com/?p=145708 President Buhari during an interactive session with Nigerians living in Germany, promised to be hard on corruption. Buhari also thanked Nigerians for their contributions to the fight against corruption, adding that there is so much rot in the society. According to him, his administration will make it impossible for anyone to take money that belongs [...]

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]]> Nigeria Has Saved N1.4 Trillion Since Subsidy Removal – Kachikwu https://www.theinfostride.com/nigeria-has-saved-n1-4-trillion-since-subsidy-removal-kachikwu/ Fri, 19 Aug 2016 21:57:43 +0000 http://www.theinfostride.com/?p=140738 According to Minister of State for Petroleum Resources, Dr Ibe Kachikwu, Nigeria has saved N1.4 trillion since removing the subsidy on petrol. Kachikwu also said that the removal of the subsidy has improved the availability of fuel and stopped the previously frequent shortages of the product. The minister made the comments on Thursday, August 18, [...]

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]]> Corruption Caused Subsidy Removal – Babachir David https://www.theinfostride.com/corruption-caused-subsidy-removal-babachir-david/ Tue, 17 May 2016 01:20:22 +0000 http://www.theinfostride.com/?p=128887 Lawal who was supposed to address a world press conference today, Monday May 16, 2016 by 12:00 pm concerning the lingering issue, postponed it until tomorrow Tuesday, May 17, 2016. In a statement he earlier issued, Engr. Babachir David Lawal, said the monumental corruption that crept into unreasonable business of products importation stayed until the [...]

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]]> Buhari Should Apologise To GEJ Over Oil Subsidy – Uzoma Nkem-Abonta https://www.theinfostride.com/buhari-should-apologise-to-gej-over-oil-subsidy-uzoma-nkem-abonta/ Sun, 15 May 2016 21:32:05 +0000 http://www.theinfostride.com/?p=128749 Hon. Uzoma Nkem-Abonta, representing Ukwa Federal Constituency of Abia state under PDP in the House of Reps, has said President Muhammadu Buhari and the ruling party, APC owes ex-President Goodluck Jonathan an apology over fuel subsidy. In a report by ThisDay Newspaper, Nkem-Abonta said the ruling party and the incumbent President owe the ex-President an [...]

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]]> I Wish Fuel Subsidy Wasn’t Removed – Tinubu https://www.theinfostride.com/i-wish-fuel-subsidy-wasnt-removed-tinubu/ Fri, 13 May 2016 01:33:29 +0000 http://www.theinfostride.com/?p=128505 National leader of the All Progressives Congress (APC), Bola Tinubu, has said that the new fuel pump price is a necessary pain Nigerians must endure temporarily. Tinubu, who stated this in a statement issued by his media office, commended President Muhammadu Buhari for taking “a bold step”. According to him, the new ‘no subsidy’ regime [...]

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]]> FG Recommence Subsidy Payment https://www.theinfostride.com/fg-recommence-subsidy-payment/ Sun, 03 Apr 2016 18:51:40 +0000 http://www.theinfostride.com/?p=124736 On Saturday, April 2, 2016, the Federal Government reportedly recommenced the payment of subsidy on petrol. It was further reported that Nigerian government subsidised the commodity by N5.84 for every litre of premium motor spirit consumed in Nigeria. The FG also announced that the current official pump prices of petrol would remain at N86 per [...]

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]]> FG Hailed For Removal Of Fuel Subsidy https://www.theinfostride.com/fg-hailed-for-removal-of-fuel-subsidy/ Sun, 10 Jan 2016 01:04:43 +0000 http://www.theinfostride.com/?p=117761 The Organised Private Sector, under the umbrella of Nigeria Employers’ Consultative Association (NECA), on Saturday commended the Federal Government for the removal of the fuel subsidy. The Director-General of NECA, Mr Olusegun Oshinowo made the commendation while fielding questions from newsmen in Lagos. Oshinowo said that though the government said that the new dispensation would [...]

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]]> Who Are The Real Beneficiaries Of Fuel Subsidy? https://www.theinfostride.com/who-are-the-real-beneficiaries-of-fuel-subsidy/ Mon, 23 Nov 2015 10:06:22 +0000 http://www.theinfostride.com/?p=108350 Minority Leader of the House of Representatives, Leo Ogor, has explained why he opposed the fuel subsidy proposals in President Muhammadu Buhari’s 2015 Supplementary Budget. In an interview with Vanguard, Ogor pointed out that the figure quoted to offset subsidy owed in just a quarter was too much, especially coming at a time when global [...]

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]]> Fuel Subsidy Is Killing Nigeria’s Economy – Onukeme https://www.theinfostride.com/fuel-subsidy-is-killing-nigerias-economy-onukeme/ Sat, 21 Nov 2015 21:35:58 +0000 http://www.theinfostride.com/?p=108160 An oil magnate, Chief Tony Onukeme, has urged the Federal Government to remove all forms of subsidy on petroleum products. Chief Onukeme made the call in Awka, Anambra State on Friday. He said the subsidy regime had contributed greatly to the underdevelopment of the nation’s oil sector and had led to the starvation of other [...]

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]]> President Buhari Writes NASS, Seeks Extra-Budgetary Approval To Pay N413bn Subsidy Claims https://www.theinfostride.com/president-buhari-writes-nass-seeks-extra-budgetary-approval-to-pay-n413bn-subsidy-claims/ Wed, 18 Nov 2015 15:19:21 +0000 http://www.theinfostride.com/?p=107622 Petroleum marketers in the country will soon heave a sigh of relief as indications emerged yesterday that President Muhammadu Buhari (PMB) has asked the National Assembly to approve the payment of their N413 billion claims. The payment of the outstanding subsidy claims is believed to be the key to ending the biting fuel scarcity across [...]

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]]> PENGASSAN Determined To Resist FG, Oil Companies Plan To Downsize https://www.theinfostride.com/pengassan-determined-to-resist-fg-oil-companies-plan-to-downsize/ Sun, 15 Nov 2015 16:46:13 +0000 http://www.theinfostride.com/?p=107317 The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has vowed to resist any form of downsizing in the industry by the federal government and International Oil Companies (IOCs). While declaring it is not averse to removal of subsidy on petroleum products, PENGASAN said it will not back any policy that will have [...]

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]]> FG Set To Pay 413 Billion Naira Subsidy Debt https://www.theinfostride.com/fg-set-to-pay-413-billion-naira-subsidy-debt/ https://www.theinfostride.com/fg-set-to-pay-413-billion-naira-subsidy-debt/#comments Thu, 05 Nov 2015 09:05:52 +0000 http://www.theinfostride.com/?p=105676 The Federal Government has approved the payment of N413 billion to petroleum products marketers in the country, being the outstanding payment for subsidy claims‎, although marketers insisted they are owed about N470 billion. The Nigerian National Petroleum Corporation (NNPC) in a statement in Abuja, also said it has injected additional volumes of Premium Motor Spirit, [...]

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]]> https://www.theinfostride.com/fg-set-to-pay-413-billion-naira-subsidy-debt/feed/ 1 EFCC Faults Tukur, Four Other’s Bid To Quash Charges Over 1.5b Naira Subsidy Scam https://www.theinfostride.com/efcc-faults-tukur-four-others-bid-to-quash-charges-over-1-5b-naira-subsidy-scam/ Thu, 08 Oct 2015 23:40:15 +0000 http://www.theinfostride.com/?p=102331 The Economic and Financial Crimes Commission, EFCC, on Wednesday, opposed bids by Mahmud Tukur and four other defendants, standing trial in a N1.5billion subsidy scam, to quash charges preferred against them. The other defendants are:  Ochonogor Alex, Abdullahi Alao and their companies: Eterna Plc and Ax Energy. They are standing trial before Justice Lateef Lawal [...]

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]]> NNPC GMD Calls For Removal Of Fuel Subsidy | #Nigeria https://www.theinfostride.com/nnpc-boss-calls-for-removal-of-fuel-subsidy-nigeria/ Fri, 21 Aug 2015 07:30:11 +0000 http://www.theinfostride.com/2015/08/nnpc-boss-calls-for-removal-of-fuel-subsidy-nigeria/ The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Emmanuel Kachikwu has argued that fuel subsidy was an unsustainable drain on the economy. He, therefore, called for speedy deregulation of the nation’s oil and gas sector. “Subsidy creates distortion in government revenue distribution as a result of round-tripping and unnecessary carryover of expenditures every [...]

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]]> N1.4 Bn Subsidy Scam: Court to Rule on Jurisdiction https://www.theinfostride.com/n1-4-bn-subsidy-scam-court-to-rule-on-jurisdiction/ Tue, 25 Mar 2014 21:46:43 +0000 http://www.theinfostride.com/2014/03/n1-4-bn-subsidy-scam-court-to-rule-on-jurisdiction/ Justice Olasumbo Goodluck of the Federal Capital Territory High Court, Abuja has adjourned to June 4, 2014 for ruling on whether the court has jurisdiction to hear the N1.4 billion oil subsidy case involving the duo of Helyn Aninye, Chizobam Aniebonam and their company, Pon-specialized Services Limited. The accused persons who are alleged to have [...]

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]]> ‘No Removal Of Kerosene Subsidy’ https://www.theinfostride.com/no-removal-of-kerosene-subsidy/ Sun, 16 Feb 2014 00:08:39 +0000 http://www.theinfostride.com/?p=21468 The address of Mrs Diezani Allison-Madueke, Petroleum and Natural Resources Minister to the Senate Panel. . For years, the issue of the presidential directive given by His Excellency, the late President Umaru Yar’Adua, has been brought up again and again. . There was a presidential memo written in 2009. . At the time, an inter-ministerial [...]

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]]> Kerosene Subsidy Is A Scam —Central Bank Governor https://www.theinfostride.com/kerosene-subsidy-is-a-scam-central-bank-governor/ Wed, 05 Feb 2014 11:38:57 +0000 http://www.theinfostride.com/?p=17614 The Governor of the Central Bank of Nigeria, CBN, Mr. Sanusi Lamido Sanusi yesterday described the kerosene subsidy claim by NNPC as a scam saying that claims by the Nigerian National Petroleum Corporation, NNPC, of spending money on kerosene subsidy are not credible. . Sanusi made the declaration at the resumed Senate Investigative Public Hearing [...]

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]]> Petrol Scarcity Beckons Over Unpaid Subsidy To Oil Marketers https://www.theinfostride.com/petrol-scarcity-beckons-over-unpaid-subsidy-to-oil-marketers/ https://www.theinfostride.com/petrol-scarcity-beckons-over-unpaid-subsidy-to-oil-marketers/#comments Tue, 28 Jan 2014 10:22:57 +0000 http://www.theinfostride.com/?p=14625 Oil marketers, yesterday, warned of an impending scarcity of fuel in the country from Friday, as Major Oil Marketers Association of Nigeria, MOMAN, said their stock was fast depleting. . This followed the failure of the Federal Government to settle them their outstanding subsidy claims, totaling about N120 billion for the third and fourth quarters [...]

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