Fuel Subsidy Removal: Buhari Bows To World Bank, IMF

President Muhammadu Buhari

By Bayo Bernard No fewer than 80 vessels carrying over 350, 000 tons of petrol   arrived Lagos ports yesterday amidst speculations that the federal government may eventually bow to pressure from the international Monetary Fund, IMF and other international development partners to increase petrol pump price. Their arrival, government sources say, is to re-assure Nigerians that the product is abundantly available, therefore, no need for panic buying. But the comment of the minister of state for Petroleum Resource, Dr. Ibe Kachikwu that the FG has not taken any definitive position…

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NNPC/IPMAN Distract Nigerians Over Pump Price

By Oji Odu First, the Independent Petroleum Marketers Association of Nigeria (IPMAN) came up with a gimmick, following the postponement of the 2019 elections to reduce fuel pump price so as to help ease movement of voters to their polling stations. Today, the association is threatening hell and brimstone that they will unilaterally increase petroleum pump price to over the official N145 per litre if the depot owners keep selling to them at a hiked price of N135.50 instead of the N133.28 The Nigeria National Petroleum Corporation (NNPC) on its…

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$3.5Bn NNPC Subsidy Under Investigation

By Akinwale Kasali The Senate has set up an AD-HOC committee to investigate the $3.5bn NNPC subsidy money, and to ascertain what the money was used for. This disclosure was made in a tweet on the verified Twitter handle of The Nigerian Senate, @NGRSenate. “Senator Bassey Akpan cited Orders 43 and 95 and drew the attention of the Senate to the various emails and complaints from the general public on the unauthorised withdrawal of $3.5bn by NNPC from the NLNG account,” the Senate added. “I ask that the Senate Committee…

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Otedola Tanker Fire: Senate Probes NNPC, FRSC

The Senate has called on the Nigeria Police and the Federal Road Safety Corps to investigate the circumstances surrounding the explosion of a tanker laden with premium motor spirit (petrol) in Lagos last Thursday. The Senate also plans to meet with the FRSC and the Nigerian National Petroleum Corporation to seek amendment of extant laws needed to check accidents involving articulated vehicles. This was based on a motion at the plenary on Wednesday by Senator Gbenga Ashafa (Lagos-East), in conjunction with senators Oluremi Tinubu (Lagos-Central) and Solomon Adeola (Lagos-West). A…

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