Subsidy
29 Nov
The Nigerian Electricity Regulatory Commission (NERC) has revealed that the Federal Government's annual electricity subsidy surged to N2.4 trillion in 2024, a sharp rise from N650 billion in 2023. The commission attributed the significant increase to persistent inefficiencies in the electricity sector, despite the introduction of the Band A tariff service category. The initiative, aimed…
15 Oct
Vice President Kashim Shettima has defended the policies implemented by the Federal Government amid the hardship Nigerians are currently facing. Many Nigerians, especially the poor, have struggled under President Bola Tinubu, who assumed office in Abuja on May 29, 2023. One of Tinubu’s first actions as president was to end the fuel subsidy. His administration…
14 Oct
The removal of fuel subsidies in Nigeria has significantly curbed the cross-border smuggling of Premium Motor Spirit (PMS), according to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari. Kyari, speaking during an interview with Channels TV on Sunday, explained that the subsidy previously created a substantial price gap…
29 Sep
Nigeria’s former Ambassador to The Philippines, Dr. Yemi Farounbi, believes that the country is suffering the consequences of the 'Emilokan' ideology. Farounbi added that Nigerians are now lamenting their decision to embrace the Emilokan ideology as they realize that hunger does not have tribal marks. 'Emilokan,' a Yoruba word meaning 'it is my turn' in…
25 Aug
Former Vice President Atiku Abubakar has criticised President Bola Tinubu over the fuel subsidy scam and human rights abuses under his administration, saying the president is not serious about attrating foreign direct investment (FDI) to the country. In a statement signed by his Special Assistant on Public Communication, Phrank Shaibu, Atiku accused Tinubu's administration of…
22 Aug
Stakeholders push for increased IGRs Tougher times await federal, states and local governments as subsidy on premium motor spirit (PMS) is set to erode over N7.7 trillion from the Federal Allocation Account by December this year. Already, the debt profile of states is rising ahead of the implementation of the N70,000, with some stakeholders…
9 May
Nigeria, the giant of Africa, is on a side of economic downturn. How are we going to revive the economy of the sleeping giant of Africa?
14 Mar
Stopping naira depreciation by fiat will shock the advocates of market-determined naira value, and send the right signal that Nigeria’s new government will not run with policies that do not work for Nigeria.
8 Mar
President Bola Tinubu has ordered a 93 per cent reduction in the cost of agricultural inputs for farmers to enhance food security in the country.
15 Feb
Notwithstanding denials from government, Nigeria is paying about N907.5 billion subsidy on premium motor spirit (PMS) otherwise called petrol monthly as the depreciation of the naira has pushed the actual cost of litre of fuel to N1,202.7.
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The Azerbaijan Airlines plane that crashed in Kazakhstan this week suffered physical "external interference", the airline and Azerbaijan's transport minister said Friday, citing preliminary results of an investigation, adding to speculation it was hit by a Russian air defence system. The jet crashed near the Kazakh city of Aktau on Wednesday, killing 38 of the…
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President Bola Ahmed Tinubu has taken a significant step to elevate the nation’s sports sector by prioritising its professional management, through the National Sports Commission (NSC), to foster a sustainable sports economy. Malam Shehu Dikko, Chairman of NSC, said this during a Virtual Annual General Meeting (AGM) of the Nigeria Olympic Committee (NOC). …
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The Ogun Assembly has called on relevant agencies and stakeholders distributing palliatives to always take preventive measures in controlling crowd associated with such gestures. The Speaker, Mr Oludaisi Elemide (APC-Odeda), who gave the charge during plenary in Abeokuta on Friday, urged individuals interested in giving back to also take such steps. The speaker was responding…
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A year after the demise of the former Governor of Ondo State, Oluwarotimi Akeredolu, his family on Friday converged on Owo, headquarters of Owo Local Council Area of the state to honour and celebrate the legacies of their patriarch. Following a long, protracted illness, Akeredolu gave up the ghost in Germany on December 26, 2023.…
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The Oyo State Post-Primary Schools Teaching Service Commission (TESCOM) has announced the commencement of the screening exercise, distribution of appointment letters, and documentation for newly recruited teachers across the state. In a statement on ‘X’, TESCOM emphasised its commitment to ensuring a seamless process for the successful candidates. "This exercise is crucial to integrating the…
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The Peoples Bank of China (PBC) on Friday revealed that it has renewed a bilateral currency swap agreement with its Nigerian counterpart
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Former Governor of Ekiti State, Dr Kayode Fayemi, has declared that there will be no automatic return tickets for current members representing the state at the National Assembly, as well as those at the State House of Assembly. The ex-governor, who stated that he was speaking the mind of former Governor Niyi Adebayo, another leader…
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The Independent National Electoral Commission (INEC) says the body is toying with the idea of destroying six million unclaimed Permanent.
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Filmmaker and actress, Toyin Abraham Ajeyemi, has described herself as her own competition after her latest film, ‘Alakada: Bad and Boujee’, earned N134 million in seven days at cinemas. She shared her excitement today, December 27, on Instagram after the local distributor announced the film's box office numbers. Abraham expressed her gratitude, saying, "God of…