Precious Nwonu, Enugu Former Vice President and African Democratic Congress presidential candidate, Atiku Abubakar, has criticised the Federal Government over the high cost of petrol, questioning the management of revenues following the removal of fuel subsidy. Atiku, in a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, said Nigerians were now … [Read more…]
Nigerians seem to be at crossroads over the move by the Federal Government to suspend payment of subsidy on Premium Motor Spirit (PMS), popularly called petrol. President Muhammadu Buhari had in August 2021 signed the Petroleum Industry Bill into law, signaling an end to petrol subsidy. But in what looks like a dramatic twist, … [Read more…]
The sustained increase in global crude oil prices has pushed up the landing cost of imported petrol closer to the current pump prices of the product in Nigeria, and appears to have triggered a return to petrol subsidy era, ’FEMI ASU reports Since November 13, 2020 when the pump prices of Premium Motor Spirit … [Read more…]