LAGOS MAY 30TH (NEWSRANGERS)-Petrol stations in Lagos started witnessing queues few hours after President Bola Tinubu announced that “fuel subsidy is gone”. Daily Trust observed that NNPC stations in Ikeja, Alausa were crowded by motorists who rushed to buy the product. Many private stations were not selling as of the time of filing this report….
LAGOS MAY 29TH (NEWSRANGERS)-President Bola Ahmed Tinubu has appealed to Nigerians to burry political differences and join him in a new journey of healing, nation-building and economic prosperity. In his inaugural address after taking the oaths of office and allegiance administered by the Chief Justice of Nigeria Justice Kayode Ariwoola, at the Eagles Square, Abuja,…
LAGOS APRIL 28TH (NEWSRANGERS)The Federal Government has suspended plans to remove fuel subsidy by June this year. Minister of Finance, Budget and National Planning, Ahmed Zaniab gave the indication on Thursday, shortly after the National Economic Council, NEC, meeting, chaired by the Vice President, Yemi Osinbajo. She said the NEC, which comprises State Governors deliberated…
LAGOS APRIL 5TH (NEWSRANGERS)-Nigeria has secured $800 million from the World Bank to scale up its national social program ahead of the removal of its costly but popular subsidies on petrol in June, Finance Minister Zainab Ahmed said on Wednesday. Africa’s biggest economy set aside 3.36 trillion naira ($7.3 billion) this year to spend on…
LAGOS JUNE 30TH (NEWSRANGERS)-The House of Representatives has alleged that more than $10 billion worth of the nation’s crude has been stolen via fraudulent fuel subsidy claims by the Nigerian National Petroleum Corporation (NNPC) and other industry stakeholders. The parliament has therefore constituted an ad-hoc committee to investigate the petroleum products subsidy regime between 2017…
LAGOS AUGUST 31ST (NEWSRANGERS)-Amidst confusion in the downstream petroleum industry, concerning its deregulation, subsidy on Premium Motor Spirit (PMS), also known as petrol, has once again resurfaced, as the Nigerian National Petroleum Corporation (NNPC), weekend, said it incurred N5.35billion as under recovery in June, 2018. Under-recovery, also known as subsidy, occurs when the pump price…