Fuel subsidy increased from N413 Billion to N521 Billion

NNPC GMD, Dr. Ibe Kachikwu

The controversial fuel subsidy claims as contained in the 2015 Supplementary Budget presented to the National Assembly by President Muhammadu Buhari has risen from N413 billion to N521 billion.

The original N413 billion subsidy claim included N120.552billion outstanding claims from 2014 and N292.8 billion to cover claims from January to September.

Fuel scarcity persists, as NNPC increases supply to 35m litres

 

ABUJA—Respite seems not to be in sight for motorists, as the fuel queues worsened, yesterday.  Motorists faced untold hardship in their quest to purchase Premium Motor Spirit, PMS, also known as petrol.

This was even as the Nigerian National Petroleum Corporation, NNPC, increased its fuel supply to petrol stations across the country to 34.844 million litres.

The NNPC, in its ‘Daily Dispatch Report to Filling Stations for November 23, 2015’ released, yesterday, revealed that the amount of petrol lifted across the country on Monday, increased by 13.44 million litres or 62.82 per cent from  the 21.4 million litres lifted Saturday and Sunday, November 21 and 22, 2015 respectively.

Fuel scarcity bites harder

In the past week, Nigerians have again been going through some harrowing times. Everywhere you look across the country, what you see are long queues of motorists seeking to buy fuel at filling stations. The incident has led to sharp practices by some oil marketers that fix arbitrary prices far above the official pump price approved by the Federal Government for Petroleum Motor Spirit (PMS) across the country. Nigerians are perturbed on what could have gone wrong, as the fuel crisis seems to be worsening by the day. Though it has not really triggered any appreciable increase in the price of food commodities and transport fare, consumers of petrol are groaning over an increase in the pump price and are begging the government to quickly act so that the situation would not escalate and go out of hand.

EXCLUSIVE: How Diezani Alison-Madueke Laundered Looted Money And Her Accomplices Revealed

                                    

An investigation by SaharaReporters has revealed some of the ways in which former Petroleum Minister, Diezani Alison-Madueke, and her network of accomplices, family members, and shell companies sought to conceal and launder an astonishing amount of the former minister’s corruptly acquired wealth. The laundered funds are the focus of twin investigations by British and Nigerian anti-corruption agencies. Last Friday, the International Corruption Unit of the British National Crime Agency (NCA) arrested Mrs. Alison-Madueke and four other suspects in London.