The Economic and Financial Crimes Commission (EFCC) yesterday re-arraigned Mamman Nasir Ali, son of former Chairman of Peoples Democratic Party (PDP), Ahmadu Ali, over an alleged N2.2 billion oil subsidy fraud. Ali alongside Christian Taylor and their oil company, Nasaman Oil Services Limited were brought before before Justice Mojisola Dada of a Lagos Special Offences…
President Bola Tinubu on Thursday, declared that Nigeria faced imminent bankruptcy if his administration had not swiftly ended the fuel subsidy and implemented crucial economic reforms. Receiving a delegation of former National Assembly colleagues from the aborted Third Republic at the State House in Abuja, Tinubu explained that his actions were motivated by the need…
President Bola Tinubu on Monday said that every decision he has taken so far, including the fuel subsidy removal is all about Nigerian youths and their future. Tinubu spoke during the inauguration of the Planning Committee for the National Youth Conference at the State House, Abuja. He assured that the ongoing economic reforms were designed…
The removal of fuel subsidies has been hailed as a pivotal decision to confront long-standing economic challenges. This is according to Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms. Speaking at The Platform, an annual event organized by Covenant Nation in Lagos, Oyedele outlined how previous subsidy regimes perpetuated economic…
President Bola Tinubu has reiterated that he has no regrets about removing the fuel subsidy, emphasising that the decision was necessary to secure Nigeria’s financial future. Speaking on Monday during a live presidential media chat broadcast nationwide, Tinubu explained that the subsidy was draining the country’s resources and jeopardizing future investments. He said, “We are…
President Bola Tinubu has said Nigerians were living a good life that was fake and capable of leading the country into a total economic collapse before his administration came on board to remove the fuel subsidy. Tinubu had on May 29, 2023, on the day of his inauguration into office, announced the removal of the…
The federal government has officially ended fuel and foreign exchange subsidies, Minister of Finance and Coordinating Minister of the Economy Wale Edun revealed on Thursday. The minister made the announcement during the presentation of the Nigeria Development Update by the World Bank in Abuja. The subsidies, the government said drained the country’s economy to the…
President Bola Tinubu says Nigeria’s daily consumption of premium motor spirit (PMS), also known as petrol, reduced to about 30 million litres after subsidy removal. Tinubu spoke on Friday during a meeting with a group of former lawmakers at the State House in Abuja. He said although Nigerians are complaining about the current “petroleum crisis”,…
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…