Thursday, 13 July 2023 04:38

Tinubu seeks N500bn N’Assembly approval for fuel subsidy removal palliative

Rate this item
(0 votes)

President Bola Tinubu asked lawmakers to approve N500 billion ($638 million) of spending to cushion the impact of the removal of gasoline subsidies in the West African nation. 

The money will be sourced from a supplementary budget of 819.5 billion naira approved earlier by lawmakers, according to a letter read on the floor of the House of Representatives by Speaker Tajudeen Abbas on Wednesday. 

The cost of transportation and food prices have soared in Africa’s most populous nation after Tinubu announced the end of fuel subsidies in his inauguration speech on May 29. Labor unions have demanded higher pay and other forms of compensation to cushion the higher cost of living caused by the subsidy cuts. Lawmakers will consider the request on Thursday. 

 

Bloomberg

March 16, 2025

Petrol price war drives marketers to reduce purchases as losses mount

A price war between Dangote Petroleum Refinery and the Nigerian National Petroleum Corporation Limited (NNPCL)…
March 16, 2025

El-Rufai speaks further on Tinubu’s presidency, Chicago scandal, other issues

Former Kaduna State Governor Nasir El-Rufai has revealed that he and other political leaders were…
March 14, 2025

How leaders train themselves to rethink and adapt faster

Paola Cecchi-Dimeglio Recognizing the value of rethinking is one thing—making it a habit is another.…
March 01, 2025

Man offers to split $525,000 jackpot with thieves who stole his credit card to buy…

A Frenchman appealed to the homeless thieves who stole his credit card to buy a…
March 14, 2025

Gunmen invade Kaduna communities, abduct 10

Suspected bandits have abducted ten villagers from three remote communities in Kajuru Local Government Area…
March 16, 2025

Here’s the latest as Israel-Hamas war enters Day 527

Freed Israeli hostage speaks for the first time about his 505 days of surviving Hamas…
March 15, 2025

Humanoid robot with human-like competence unveiled in China

Du Qiongfang Humanoid robot manufacturer AgiBot in Shanghai unveiled on Tuesday its latest humanoid robot…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Prof Wale Are Olaitan: Editorial Consultant; Femi Kawonise: Head, Production & Administration; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2025 NewsScroll. All rights reserved.