…unchng.com/why-we-cant-move-ogogo-for-spiritual-treatment-jide-kosoko/ 3. 30 months after subsidy removal, FG spends N30.6tn, saves N15.8tn The Federal Government says it spent N30.64tn between June 2023 and December 2025 to ease the effects of its economic reforms, including the removal of petrol subsidy. According to…
…Democratic Congress, ADC, Alhaji Atiku Abubakar, has pledged to reinstate the fuel subsidy regime if he is elected president of Nigeria in 2027. Atiku argued that the removal of the fuel subsidy by President Bola Tinubu’s administration has not yielded any benefit for Nigeria. Tinubu announced the removal of the subsid…
…our people well, who are doing the hard work,” he said. He disclosed that N9.495tn in subsidy savings and incremental revenue had gone into incremental payment of salaries and allowances to civil servants, a figure he said exceeded the actual savings that accrued to the Federal Government from the subsidy removal. Oyed…
…Emma Ujah ABUJA — The Federal Government has said reforms involving the removal of fuel subsidy and the liberalisation of the naira generated savings of N15.8 trillion for the Federation between June 2023 and December 2025. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this…
The Federal Government said on Wednesday that the removal of petrol subsidy and the unification of the foreign exchange market generated N15.8tn in additional resources for the Federation between June 2023 and December 2025, with states and local governments receiving the larger share of the amount. The government, how…
…across Nigeria's deregulated downstream petroleum market.Analysts rule out fresh petrol subsidyFinancial analyst Osas Igho said NNPC's lower price should not automatically be interpreted as a return of petrol subsidy.According to him, NNPC also sources petrol from the Dangote Refinery, meaning the company is participat…
Nigeria’s electricity subsidy remains a significant fiscal and market-liquidity burden, with the Federal Government covering N358.32 billion of generation costs in the first quarter of 2026, according to data from the Nigerian Electricity Regulatory Commission (NERC). The figure represents 51.95 per cent of the N689.72…
Nigeria’s petrol subsidy could have cost the Federal Government as much as N53 trillion under current market conditions and pushed the naira to about N3,500 to the dollar, chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has said. The post Fuel subsidy could have cost Nigeria N53trn, pushed naira to N3,500…
…infrastructure and challenges confronting farmers. He added that the removal of the fuel subsidy had not translated into improved living conditions for Nigerians, while farmers were also struggling because of cheap imported food. The former Kano State governor said the alliance among the Kwankwasiyya Movement, NDC and…
The Medical and Dental Consultants’ Association of Nigeria (MDCAN) has called for stronger ethical standards, improved knowledge of legal responsibilities and effective risk management as rising medical litigation and the migration of skilled healthcare professionals continue to challenge Nigeria’s health sector. The a…
…and economic growth. It identified the challenges as “a fiscally unsustainable fuel subsidy regime, an opaque forex system that discouraged investment, a non-performing oil sector, and a tax base ‘far below its potential’.” The revenue authority said the initial impact of the reforms created significant economic diffic…
…Commission (RMAFC), Mohammed Shehu, disclosed that Nigeria spent ₦1.16 trillion on fuel subsidy in 2021, while another ₦1.20 trillion was deducted from the Federation's crude oil sales proceeds during the same period.Shehu said fuel subsidy payments represented a significant drain on public finances. Other deductions f…
…previous administrations were unwilling to implement. He highlighted the removal of fuel subsidy, the unification of the foreign exchange market, efforts to improve government revenue, increased infrastructure investment, policies aimed at attracting local and foreign investors, the expansion of the student loan progra…
…I will cite two or three examples. In 2023, when President Bola Tinubu removed fuel subsidy, he gave N2 billion to each state of the federation, among other things, to purchase CNG buses and improve on the transportation of the state. “Osun State diverted that N2 billion. Up to this moment, they have not been able to a…
…administration under President Bola Tinubu, describing the simultaneous removal of fuel subsidy and floating of the naira as a double blow to Nigerians’ welfare. Makinde, represented by a national leader of the party, Mr Babatunde Tijani, spoke on Monday in Abeokuta, Ogun State, during the unveiling of the APM deputy g…
…administration under President Bola Tinubu, describing the simultaneous removal of fuel subsidy and floating of the naira as a double blow to the welfare of Nigerians. Makinde, represented by a national leader of the party, Mr Babatunde Tijani, disclosed this on Monday in Abeokuta during the unveiling of the APM deputy…
…fiscal recklessness, excessive borrowing, imposing hardship through the removal of fuel subsidy, and implementing tax policies he described as punitive. Atiku also questioned what he termed an unaccounted oil revenue windfall and warned that the country’s economy was drifting. Responding, Onanuga accused the presidenti…
Atiku Abubakar rejected claims by Finance Minister Taiwo Oyedele that fuel subsidy savings are being used to reduce government debt and improve workers' welfareThe former Vice President cited alleged CBN figures showing the federal government's credit exposure rose by ₦17.39 trillion, or 77.6%, in just one yearAtiku al…
…sector.FG says no immediate plan for electricity tariff hikes, sets 2027 date for power subsidy removal. ImagesSpeaking during a media roundtable on the reset of Nigeria's electricity industry in Lagos on Friday, the Minister of Power, Joseph Tegbe, said the administration has no plans to increase electricity tariffs b…
…protection claims in NNPCL's 2024 recordsThe group accused NNPCL of reintroducing subsidy-like obligations through indirect financial mechanisms that remain hidden from public scrutinyPAY ATTENTION: Mark Legit.ng as a preferred source, and our content will appear higher in your Google feed!Abuja, FCT - A coalition of e…
…Minister of the Economy, Mr Taiwo Oyedele, to explain how fuel and foreign exchange subsidy removal savings have been spent by the Federal Government, with a promise to publish details in a few days, Nigerians are calling for transparency. Oyedele, while responding to a question […] The post Reactions, expectations as…
…criticised the implementation of key economic reforms, including the removal of fuel subsidy and exchange rate liberalisation, arguing that they were introduced without adequate measures to cushion their effects on citizens. According to him, rising inflation, high food prices and declining agricultural productivity sh…
FG to phase out power sector subsidy from next year The Minister of Power, Joseph Tegbe, has announced plans by the Federal government to phase out subsidy payments in the power sector from 2027. Tegbe made the announcement during a media parley with newsmen in Abuja on Friday, July 31.According to the Minister, the su…
…of Buji Local Government Area of Jigawa State, Najeebullah Falalu Tukur, has increased subsidy on fertiliser, reducing the price of a 50kg bag from ₦28,800 to ₦18,800 for farmers in the local government. The post Buji LG deepens support for farmers, reduces fertiliser’s price to N18,000 appeared first on Tribune Online…
…a statement issued by Shaibu, Atiku said Nigerians were assured that the removal of fuel subsidy, increased taxation and other economic reforms would reduce borrowing and stabilise the country’s finances, but argued that the opposite had occurred. According to him, the latest borrowing figures demonstrated that the gov…