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N413Billion Subsidy Payments: House Of Reps To Investigate Loan From Central Bank, Tells President Tinubu To Provide Palliatives For Nigerians

The House of Representatives Ad-hoc Committee has launched an investigation into the N413 billion funds borrowed from the Central Bank of Nigeria (CBN) for subsidy payments.   The Committee also asked the Nigerian Government to suspend all Direct Sales Direct Purchase (DSDP) contracts with the subsidy removal, while urging the Nigerian National Petroleum Corporation Limited (NNPCL) to act by the provision of the Petroleum Industrial Act (PIA) to ensure that the country is not sub-changed in production, lifting and sales of crude.  

Fuel subsidy and how removal fit affect Nigerians

Getty Images Pesin dey pour petrol into im car from jerrycan Long queues for di Premium Motor Spirit (PMS) wey pipo sabi as petrol don return to most filling stations across Nigeria.Dis dey come less dan 24 hours into di administration of di new Nigeria President Bola Ahmed Tinubu.Tinu

Latest on fuel subsidy removal in nigeria: NNPCL outlets sell petrol for N488 amidst scarcity

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