Index to Nigerian Newspapers

Total power outage looms in Nigeria as National Union of Electricity Employees (NUEE) yesterday directed its members to withdraw their services nationwide over the Federal Government’s sudden removal of subsidy on Premium Motor Spirit (PMS) otherwise called petrol or fuel. President Bola Tinubu, in his inaugural speech, said that the petrol subsidy was gone. Miffed by the development, especially non-consultation, the Nigeria Labour Congress (NLC) issued a notice that its members and affiliates should embark on a nationwide strike from Wednesday, if the NNPCL refused to reverse the new price template.

The Nigerian Economic summit group (NESG) has urged the federal government of Nigeria led by president Bola Tinubu to implement various social intervention programs to mitigate the impact of fuel subsidy removal on Nigerians.

Government should also engage in targeted cash transfer programmes that will provide financial assistance directly to low income households or individuals affected by the removal of fuel subsidies. these cash transfers can help alleviate the increased transportation costs and basic necessities. 

The Peoples Democratic Party (PDP) in the House of Representatives has criticised President Muhammadu Buhari's administration, claiming that the two-year-old administration has worsened poverty and hunger in Nigeria. The opposition party members criticized the government's economic policies and its N500bn social welfare programme for vulnerable groups, arguing that Nigerians must have realized they made a mistake by voting the All Progressives Congress into power. Majority Leader Femi Gbajabiamila reacted that the government's fight against corruption, weakening of insurgency in the North-East, and the gradual recovery of the naira against the US dollar were enough testimonies of performance by the government. Minority Leader Leo Ogor, however, criticized the government for not implementing any significant economic reforms and criticized the methodology used to distribute the N500bn social welfare program. He also noted that Nigerians were not eating better food or having improved access to basic amenities. The opposition party leader, Gbajabiamila, defended the APC government's performance in its midterm scorecard, stating that the Buhari-led administration had done well in its efforts against insecurity, corruption, and poverty.

Nigerians are protesting the recent increase in fuel pump prices, causing panic buying and long queues. The removal of fuel subsidy by President Bola Tinubu has led to a nationwide ban on fuel sales between N480 and N570 per litre. This has led to stranded individuals in Abuja being unable to access their work places. Nigerians have criticized the Federal Government for being insensitive to their struggles and blaming the government for not being more concerned about the masses. The Independent Petroleum Marketers Association of Nigeria (IPMAN) President Chinedu Okoronkwo attributed the increase to the cost of dollars, stating that petroleum products are imported to Nigeria using dollars. IPMAN National Operations Controller Mike Osatuyi has previously projected that pump prices would increase when new fuel imports come into the country in July 2023.

President Bola Tinubu has established an inter-agency committee to resolve the ongoing dispute between Nigeria National Petroleum Company Limited (NNPCL) and the Federation Account Allocation Committee (FAAC). The committee aims to reconcile the controversies surrounding the Federal Government's debt of N4.2 trillion to NNPC Limited and the N2.1 trillion NNPC Limited has failed to remit to the Federation Account. The committee is expected to begin sitting today at the Ministry of Finance.

The Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL) Mele Kyari, yesterday said the administration of president Bola Ahmed Tinubu has conclude plans for one of the four refineries to be repaired to operate at an optimal level before the end of 2023.

He stated that there was an ongoing process of rehabilitation to ensure that one of the four refineries will begin operations before the end of the year.