The Islamic rights group disclosed this in a statement on Friday by its Executive Director, Professor Ishaq Akintola.
Browsing: Fuel subsidy
The Minister of Federal Capital Territory (FCT), Nyesom Wike, has warned against the diversion of palliatives meant for poor and vulnerable groups in the territory.
We need to understand the different components of the gas market to have a good idea of where CNG sits.
The Nigeria Labour Congress and the Trade Union Congress have resolved to ground the economy from next week.
During the period of the Great Depression, farmers were asked not to produce and they were paid for not producing. This intervention was carried out to stop food prices from falling; and to protect smallholder farmers. The two American presidents (Herbert Hoover and Franklin D. Roosevelt) both set price floors on agricultural products so that farm produce would not become tons-a-kobo. In 2005, Indonesia more than doubled fuel prices; while in 2008, the country increased fuel product prices by 25-33 per cent. What was realised through this measure were used to finance a cash compensation program to 15.5 million poor families. Jordan also adopted and implemented this mechanism that same time. It was a huge success for the two countries that shows how government can effectively use social safety nets as part of measures to reduce impacts of shocks when carrying out economic reforms.
The Permanent Secretary, Federal Ministry of Budget and Economic Planning, Nebeolisa Anako, said the Federal Government is doing everything possible to address the hardship faced by Nigerians as a result of the fuel subsidy removal.
The Commissioner for Information, Youths, Sports and Culture, Sagir Musa stated this while briefing journalists on the outcome of the State Executive Council (SEC) meeting, Wednesday in Dutse, the State’s capital.
The food items’ distribution was part of measures to mitigate the effects of the fuel subsidy removal on Nigerians.
The Benue chapter of the Peoples Democratic Party (PDP) has lauded President Bola Tinubu over the palliatives given to states to cushion the effects of fuel subsidy removal.
The National Chairman of IPAC, Yabaji Sani, made this known while briefing newsmen at the Presidential Villa, Abuja.
The Jigawa chapter of Nigerian Association of Small-Scale Industrialists (NASSI), has commended the state government for empowering 2,500 entrepreneurs and Small and Medium Enterprises (SMEs) as part of its palliatives to cushion the effects of fuel subsidy removal.
“It is quite regrettable that a fuel station that sold at N590 a few days ago now sells at N610. One cannot help but wonder if President Bola Tinubu is the one controlling pump prices. Unfortunately, no one seems to have an answer to this question, as petrol cabals are back at work smiling to the bank and feeding fat on fuel subsidy remover. It is even sadder that some marketers and corrupt elements, who are angered that their ill-gotten wealth has been blocked with the removal of subsidies, have continued to unleash suffering on Nigerians.”
Great speech! Excellent delivery! So, kudos to Mr President! However, a section of Nigerians frowned at the speech because “it was one-sided”.
The Lagos State Government has rolled out relief measures to cushion the current hardship being faced by residents as a result of fuel subsidy removal by the Federal Government.
President Bola Tinubu has pledged his administration’s commitment to promote the greatest good for Nigerians “shall never falter”, revealing that the country had saved over a trillion naira barely over two months post fuel subsidy removal.
Tinubu said this Monday evening in his Special nationwide broadcast which is still underway.
Being the text of an address on Nigeria’s economy by President Bola Ahmed Tinubu to Nigerians on July 31, 2023
The Senate has appealed to the Nigeria Labour Congress (NLC) to shelve its impending strike on fuel subsidy removal and continue negotiation with the Federal Government FG.
The Arewa Citizens Watch for Good Governance, (ACWGG), a watchdog group advocating good governance, says it will hold massive protests on Aug. 3 against fuel subsidy removal.
North America and West Africa, with Nigeria at the helm, historically have been the top two destinations for petrol exports from Europe, which produces more gasoline than it uses, meaning its refiners rely on exports to support profit margins.