President Bola Tinubu says the removal of subsidy on premium motor spirit (PMS), also known as petrol, is designed to free up budgetary resources for critical investments. Tinubu spoke on Tuesday during the 17th annual Chartered Institute of Bankers of Nigeria (CIBN) banking and finance conference in Abuja. He was represented by Vice-President Kashim Shettima….
The Nigeria Labour Congress, NLC, has branded President Bola Tinubu a betrayer following the recent significant hike in fuel prices. In a statement signed by its President, Joe Ajaero, and made available to our correspondent in Abuja on Tuesday, the Labour Centre expressed shock and dismay at the clandestine increase in the pump price of…
GISTSMATE MEDIA reports that the Nigerian National Petroleum Company Limited (NNPC Ltd.), on Monday, August 19, said it has not paid fuel subsidy to any entity since the past nine years. Umar Ajiya, the Chief Financial Officer of NNPC Limited while speaking said the company was only taking care of Premium Motor Spirit (PMS) importation…
President Bola Tinubu has approved the request of the Nigerian National Petroleum Company Limited (NNPCL) to use the 2023 dividends due to the federation to pay for petrol subsidy, according to TheCable. The president also approved the suspension of the payment of 2024 interim dividends to the federation in order to augment the oil firm’s…
