IMF Advice: Queues Creep Back to Fuel Stations, FG considers N250 per Liter

Uche Mbah Following the advice of the International Monetary Fund, IMF, that Nigeria should go the whole hog and remove the subsidy on downstream oil products, government is said to be geared towards a phased increase in pump price of Premium Motor Spirit, PMS. Hours after the announcement by the IMF boss, there appeared long queues at the filling stations. The IMF had advised Federal Government to remove subsidy on Premium Motor Spirits, PMS, for enhancement of economic recovery. Speaking in Washington, the IMF boss, Christiana Lagarde, insisted that subsidy…

Read More

$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…

Read More