Economy Archives - Page 62 of 95

Jun

02

2023

Fuel subsidy: NLC declares nationwide strike

Economy, MetroFuel Scarcity, Metro, Nigeria, NLC, Politics

The Nigeria Labour Congress, NLC, on Friday, declared a nationwide strike from Wednesday next week. The union disclosed this during its National Executive Council, NEC, meeting held in the Federal Capital Territory, Abuja. According to Channels TV, the meeting was not unconnected to the fuel subsidy removal by President Bola Tinubu and the subsequent hike in the pump price of petrol. The NEC comprises all Presidents, General Secretaries, Treasurers of all NLC’s affiliate unions; State Chairpersons and Secretaries of the NLC State Councils, Chairperson of the NLC Youth Committee and members of the National Administrative Council (NAC).

May

31

2023

By Amos Oge Kalu

NNPCL increases official fuel pump price to N537 per litre

Business, Economy, Opinion, Politics2023, Economy, Fuel Scarcity, Metro, Nigeria, Opinion, Politics

The Nigerian National Petroleum Company Limited (NNPCL) has jerked up pump prices of petrol, also known as Premium Motor Spirit (PMS) from N195 per litre to 537 per litre. According to a new price template disclosed by NNPLC on Wednesday, Lagos State has the least price of N488 per litre, while Maiduguri and Damaturu have the highest pump prices of N577 per litre. DAILY POST gathered on Wednesday that most filling stations in the nation’s capital, Abuja, had adjusted to the new pump price. Similarly, pump prices had been adjusted across States. For instance, in Benue State, the fuel price…

May

31

2023

By Amos Oge Kalu

Fayose reacts as Tinubu removes fuel subsidy, says its best, wisest decision

Economy, Opinion, PoliticsAyo Fayose, Bola Ahmed Tinubu, Fuel Scarcity, Metro, Nigeria, Opinion, Petroleum Industry Bill, Politics

Ayodele Fayose, a chieftain of the Peoples Democratic Party, PDP, on Wednesday, reacted to the removal of the fuel subsidy regime by President Bola Ahmed Tinubu. Tinubu had, during his inaugural speech on Monday, said the subsidy is no longer sustainable in Nigeria, stressing that it is gone. Reacting to the development, Fayose, in a series of tweets via his Twitter handle on Wednesday, said that Tinubu has taken the best and wisest decision for the collective good of Nigeria and its people. Fayose tweeted, “On this removal of fuel subsidy, I am convinced that President Tinubu has taken the…

May

29

2023

By Amos Oge Kalu

Tinubu reveals his administration’s top priority

Economy, Politics2023, Bola Ahmed Tinubu, Economy, Insecurity, Nigeria, Security

President Bola Ahmed Tinubu has revealed that security will be his administration’s top priority. Tinubu spoke on Monday at Eagles Square, Abuja while addressing Nigerians for the first time after his inauguration. He said his administration would reform Nigeria’s security doctrine and architecture. According to him, his administration will also invest more in security personnel, training and equipment. Tinubu said, “Security shall be the top priority of our administration. “We shall reform our security doctrine and architecture, and invest more in our security personnel, training and equipment.”

May

29

2023

By Amos Oge Kalu

President Tinubu suspends fuel subsidy regime

Economy, Politics2023, Bola Ahmed Tinubu, Economy, Fuel Scarcity

Newly sworn-in President, Bola Ahmed Tinubu has abolished fuel subsidy in Nigeria, saying it is no longer sustainable. He gave the directive at the Eagle Square Abuja while delivering his maiden address to Nigerians. “On fuel subsidy, the budget I met before I assumed office and what I heard is that there is no provision for subsidy. “Fuel subsidy is gone,” he simply stated. Details later…