IMF Warns Nigeria Against Restoring Petrol Subsidy
B: Mardiyyah Abubakar The International Monetary Fund (IMF) has urged the Federal Government not to restore a blanket petrol subsidy, recommending targeted support for vulnerable households affected by rising fuel prices. The Fund warned that broad fuel subsidies place pressure on public finances, cost governments significant revenue and often benefit higher-income consumers more than poorer […]
YPP Faults FG’s 30-Day Fuel Price Cut as Political Gesture
By Anayo Akwitti The Young Progressives Party (YPP) has criticised the Federal Government’s 30-day fuel price reduction, describing it as a temporary political gesture that fails to address the underlying causes of Nigeria’s economic hardship. In a statement signed by its National Publicity Secretary, Comrade Egbeola Wale Martins, the party said the intervention offered only […]
Diesel Price Jumps 86% in One Year, Hits N3,277/Litre – NBS
By Oluwakemi Kindness The National Bureau of Statistics (NBS) says Nigerians faced mounting energy costs in May as the average retail price of diesel surged by 86.4 per cent year-on-year to N3,277.47 per litre, the highest increase recorded among the country’s major petroleum products. The NBS latest Price Watch report on Monday showed that diesel, […]
Trump Orders Probe of Oil Firms Over High Gas Prices
By Oluwakemi Kindness U.S. President Donald Trump has ordered an investigation into major oil companies, accusing them of keeping gasoline prices artificially high despite a decline in crude oil costs. In a post on Truth Social on Wednesday, Trump alleged that oil companies were failing to pass lower crude prices on to consumers. “The big […]