The Nigerian National Petroleum Company Limited (NNPC Ltd) is experiencing financial strain, which has put considerable pressure on the company and poses a threat to the sustainability of fuel supply.
Browsing: Fuel subsidy
“Tinubu has brought the shady nature of running Lagos to the federal level. He claims subsidy is gone but his Special Adviser on Energy, Olu Verheijen, says they are intervening from time to time while his Finance Minister, Wale Edun, described subsidy removal as an ‘ongoing process’.
The managing director of a local oil and gas company operating throughout the downstream value chain in Nigeria, Pinnacle Oil and Gas Limited, Robert Dickerman has revealed that the Nigerian government still pays approximately ₦1 trillion every month as petrol subsidies.
The Independent Petroleum Marketers Association of Nigeria (lPMAN) says the incessant increase in tariffs of petroleum products by the Nigerian Midstream and Downstream Petroleum Regulatory (NMDPRA) might adversely hinder the success of oil subsidy removal.
The Group Managing Director of Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari has revealed that the Federal Government is no longer paying subsidy on Petroleum Motor Spirit (PMS), popularly known as petrol.
A legal luminary, Mr Wahab Shittu, has advised the Federal Government to use savings from fuel subsidy to build critical infrastructure that would benefit all Nigerians.
The Nigeria Labour Congress (NLC) says it will make its decision on the suspension or continuation of its protest against effects of fuel subsidy known on Thursday.
Outcries by Nigerian citizens over their living conditions, following the fuel subsidy removal, seem to have forced Pesident Bola Tinubu, to order a review of the N8,000 cash transfer proposed by his government.
Nigeria’s Senate has constituted an ad hoc committee to investigate the fuel subsidy regime of the Nigerian National Petroleum Company Limited (NNPCL).
The Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) on Wednesday in Abuja pledged its support for Federal Government’s removal of fuel subsidy.