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Tinubu's silent revolution shakes public service

Tinubu has reversed two major economic policies and fired senior government officials. ....

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New Nigerian President Says He Will Remove Fuel Subsidy

After his May 29 inauguration, Nigerian president Bola Tinubu announced he would soon end a decades-old fuel subsidy, saying the country can no longer afford the cost. His comments sparked panic buying of gas and raised concerns about inflation in one of Africa’s top oil-producing countries. Gibson Emeka has this report from Abuja.
Camera: Gibson Emeka ....

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Nigeria's New President Sparks Chaos After Halting Fuel Subsidy Amid Rising Petrol Prices | HNGN

During his inaugural speech, Nigeria's new president's off-the-cuff statement prompted petrol station queues. ....

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Nigeria vowed to avoid fuel subsidy's return – IMF – Punch Newspapers

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‘Femi Asu
The International Monetary Fund says Nigeria has expressed strong commitment to avoid the return of fuel subsidy and to put an end to electricity tariff shortfalls by June this year.
The Federal Government removed petrol subsidy in March last year after reducing the pump price of the product to N125 per litre from N145 on the back of the sharp drop in crude oil prices.
The IMF, in a report after the conclusion of its Article IV consultation with Nigeria, said the authorities highlighted important recent reforms undertaken despite a difficult macroeconomic environment.
It said, “They expressed strong commitment to prevent fuel subsidies from resurfacing and to fully eliminate electricity tariff shortfalls by mid-2021. ....

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Oil nears $56, FG may reintroduce fuel subsidy

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Published 11 January 2021
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 (petrol) were last increased in the country, the price of the international oil benchmark, Brent crude, has been on an upward trajectory, rising from $41.51 per barrel to close at $51.22 per barrel on December 31.
Fuel marketers had in December expected another upward adjustment of PMS prices to reflect the further rise in crude oil prices. ....

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