The Deputy Speaker of the House of Representatives, Benjamin Okezie Kalu, said that over $10 billion has been saved from subsidy removal in 2023. He disclosed that the measure led to a 22 percent increase in dollar remittances from the diaspora, totaling $28 billion in 2024. Kalu gave the highlights of the achievements by the…

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…

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…

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…

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…

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…

  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…

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?

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.

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.