Festus Osifo, the National President of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has said that the Federal Government was still subsidising petroleum products. Osifo, who is also the president of the Trade Union Congress, TUC, stated this while speaking on Channels TV’s Politics Today on Friday, adding that due to…
Nigeria Labour Congress, NLC, on Tuesday, kicked against the new pump price of fuel, while describing it as provocative, which is designed to worsen the poverty level and hardship Nigeria are passing through. According to Joe Ajaero, the NLC presisent in a statement said; “We woke up this morning (Tuesday) to the news that NNPCL…
The chief executive officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, on Tuesday, said that market forces was behind the increase in petrol pump price from N540 to N617 per litre. The Informant247 had earlier reported that the price of Petroleum Motor Spirit, PMS, jumped from N539 to N617 per litre in…
A former lawmaker, Senator Shehu Sani on Tuesday, reacted to the new new price of Premium Motor Spirit popularly known as Petrol acrossthecountry. It was earlier reported on Tuesday, that the price of Petroleum Motor Spirit, PMS, jumped from N539 to N617 per litre in the nation’s capital and other part of the country Sani,…
The price of Premium Motor Spirit (PMS), popularly known as Petrol on Tuesday jumped to N617 per litre, in Abuja, The Informant247 learnt. It was gathered that an NNPC filling station along the Kubwa expressway, Abuja, has adjusted price from N539 to N617 per litre. This is coming amid speculation of an upward review of…
The National Assembly has passed amendments to the 2022 Appropriation Act which raised the subsidy on Premium Motor Spirit (petrol) by N442.72bn, from N3.557tn to N4tn. The Senate and the House of Representatives respectively considered and adopted reports on the amendment bills at the plenary on Thursday based on the request by the President, Major…
The National Economic Council, NEC, on Thursday said that decision on the removal of the subsidy on petroleum will be made in June when the provision for its payment in the 2022 budget expires. NEC said though conservation on subsidy removal has been going on it was yet to take a position on it. The…
…ask FG to upgrade country’s oil refineries The National Association of Nigerian Students, NANS, has rejected the proposed N5,000 for 40 million poor Nigerians when the subsidy on Petroleum Motor Spirit (PMS) is removed, describing it as “strange economics”. NANS President, Comrade Asefon Sunday Adedayo, made the call while briefing journalists in Abuja, on Friday….
About N864bn was spent by the NNPC Limited to subsidise Premium Motor Spirit, popularly known as petrol, in eight months this year. But for the subsidy, the money would have been remitted to the Federation Account Allocation Committee (FAAC). The FAAC allocation is a pool where federal revenue generating agencies remit their proceeds which include…
The Nigerian Government will pay subsidy on petrol in the first six months of 2022, Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this at a panel session during the ongoing Nigerian Economic Summit (NES#27) in Abuja. She said the Federal Government had made provision for petrol subsidy till the end of June…
