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Through the Nigerian Electricity Regulatory Commission (NERC), the Federal Government has approved an upward review of electricity tariff. NERC Chairman Sanusi Garba, who broke the news in Abuja, said it would cost the government between N120 billion to N130 billion monthly (N1.6 trillion) to subsidise electricity this year. Garba said if government takes a decision on subsidy, it would be taken into consideration in the next tariff. According to the […]
By Jeffery Ahonmisi, FRCN Ibadan National Station Education as they say is the best legacy parents can ever bestow on their children. As primary and secondary schools resume nationwide for a new academic session, most parents and guardians are grappling with the added burden of tuition fee increments. The fee hike coincides with a period of dwindling spending income for families due to skyrocketing inflation in the prices of […]
The Central Bank of Nigeria, CBN, says it has little or no control over the price of either Premium Motor Spirit, PMS or the dollar. A Principal Manager with the apex bank, Mr Osagie Clement, disclosed this when he appeared before the House of Representatives adhoc committee investigating the recent hike in the price of fuel. Mr Clement stated that the demand for PMS has gone down by 30 percent […]
The Independent Petroleum Marketers Association of Nigeria, IPMAN, has urged the Federal Government to provide loans for vehicle owners in the country to convert petrol to compressed natural gas, CNG usage. The Association made the call through its partner in compressed natural gas, Mr Brian Amonu, when it appeared before the house of Representatives adhoc committee set up to investigate the recent hike in petrol pump price. Mr Amonu stated […]
Members of the organised private sector, on Wednesday, expressed fear over the possible shutdown of businesses and job losses following the hike in the pump price of Premium Motor Spirit, popularly called petrol, by the Nigerian National Petroleum Corporation Limited and fuel marketers. On Tuesday, the NNPCL and other oil marketers raised the price of petrol from about N537/litre to between N617 and N630/litre, a development that triggered widespread anger […]
