LAGOS APRIL 2ND (NEWSRNAGERS)-As the battle to control market share in the downstream sector rages on, no fewer than 70 tank farm owners have been compelled to cease operations in the past two years, leaving their facilities abandoned and idle as retailers and station owners increasingly avoid utilising their services. These dormant tank farms, representing…
By Tony Ogunlowo LAGOS JANUARY 9TH (NEWSRANGERS)-‘Titanic’ can mean something that is very big, gigantic or enormous and it was also the name of a ship that sank on its maiden voyage. When the Titanic sank in 1912 it sank due to a number of avoidable factors: a ship deemed unsinkable that wasn’t fitted with…
LAGOS OCTOBER 25TH (NEWSRANGERS)-The International Monetary Fund (IMF) has denied being behind the removal of fuel subsidy in Nigeria. Speaking on Friday at a press briefing on the sidelines of the IMF and World Bank Annual Meetings in Washington DC, United States, Abebe Selassie, IMF’s African Region Director, described the decision to remove fuel subsidy…
LAGOS AUGUST 7TH (NEWSRANGERS)-Despite ongoing protests over the rising cost of living, the Nigerian government has ruled out reinstating fuel subsidy. Minister of Finance Wale Edun made the clarification during a recent interview on AIT. Edun said that fuel subsidy is not included in the 2024 national budget and cited economic progress as a reason…
LAGOS JULY 2ND (NEWSRANGERS)-Former Deputy Governor of the Central Bank of Nigeria (CBN), Professor Kingsley Moghalu, has said the removal of fuel subsidy and devaluation of naira by President Bola Tinubu were right policies wrongly implemented. The Professor of Political Economics said both the petrol (fuel) subsidy and defence of naira by the previous administration…
LAGOS JUNE 7TH (NEWSRANGERS)-The Presidency has disowned the two leaked policies in circulation insinuating that the Federal Government may have returned to the payment of fuel subsidy and be considering fiscal measures to battle food inflation in the country. In a release signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy,…
By Bola Bolawole LAGOS DECEMBER 29TH (NEWSRANGERS)-While he was visiting President Bola Ahmed Tinubu recently, the Nobel Laureate, Prof. Wole Soyinka, said he would give the president one year of grace before rating his performance in office. As would be expected, Tinubu and or Soyinka haters have read negative meanings into that. Soyinka, some have…
LAGOS NOVEMBER 15TH (NEWSRANGERS)-Nigeria’s inflation rate jumped to 27.33% in October 2023 as prices of food stuffs continue to increase in the aftermath of the removal of fuel subsidy by the President Bola Tinubu administration. This was according to the October 2023 Consumer Price Index (CPI) and Inflation Report released by the National Bureau of…