Monday, November 29, 2021
More

    Latest Posts

    Rema’s manager, Sean Okeke responds to DJ Neptune’s statement, regarding the ongoing ‘For You’ drama

    On Saturday, November 27, 2021, Rema's manager, Sean Okeke responded DJ Neptune's statement, dated November 26, 2021, which in itself, was a...

    Customer’s death: Obi Cubana reopens club two weeks after closure

    Socialite and businessman, Obinna Iyiegbu, aka Obi Cubana, has reopened his Abuja club, Hustle & Bustle, after two weeks of closure following...

    2023 election: Atiku my presidential candidate, not Tinubu, Mr Ibu clarifies

    A few days ago, ace comic actor, John Okafor fondly referred to as Mr Ibu by his admirers was reported to have...

    Petrol tanker overturns, explodes in Ogun

    A tanker loaded with Premium Motor Spirit, popularly known as petrol, has on Sunday exploded in Abeokuta, the Ogun State capital.

    Why fuel subsidy can’t continue –FG

    The Federal Government has insisted that Nigerians should brace up for an increment in the pump price of petrol, in the light of the current economic situation in the country.

    The Minister of State for Petroleum Resources, Chief Timipre Sylva, addressed journalists on the sidelines of a graduation and awards ceremony organised by the Offshore Technology Institute, University of Port Harcourt, Rivers State, where 14 master’s degree graduands of its 2019/2020 Batch Seven were recognised on Friday.

    Sylvia said the Federal Government would soon scrap the current subsidy regime for Premium Motor Spirit, which, according to him, was “benefiting certain businessmen in the country.”

    The minister said, “It is very unfortunate that if (there is) an increment in fuel pump price, (it) would have an impact on the marketplace and we are not happy about that. The President especially does not want to do it, but the economic realities are staring us in the face.

    “Can we continue to support the subsidy, which is not necessarily benefiting the ordinary person, but is benefiting certain individuals who are businessmen in the country? I don’t want to identify the people that are benefiting.

    “Subsidy is not directly benefitting Nigerians; the biggest contact with Nigerians is kerosene consumption used by local persons for cooking; as for diesel, it is used to transport food items and so on. But these have been deregulated for a long time now.”

    According to him, PMS, which he said is not the preferred fuel of the common man, continues to defy deregulation. He added that, because PMS proponents are the most vocal, they continue to kick against deregulation “but we are going to get there.”

    Sylvia added, “Right now, we are still in discussion with stakeholders, so we have decided to go on with subsidy for some time, until we are able to conclude our discussions with the stakeholders and announce the policy direction.”

    Earlier, acting Director, Offshore Technology Institute, University of Port Harcourt, Dr Robinson Briggs, described the graduands as a unique and special group of students who were faced with a great challenge as a result of the COVID-19 pandemic.

    Copyright PUNCH.

    Latest Posts

    Rema’s manager, Sean Okeke responds to DJ Neptune’s statement, regarding the ongoing ‘For You’ drama

    On Saturday, November 27, 2021, Rema's manager, Sean Okeke responded DJ Neptune's statement, dated November 26, 2021, which in itself, was a...

    Customer’s death: Obi Cubana reopens club two weeks after closure

    Socialite and businessman, Obinna Iyiegbu, aka Obi Cubana, has reopened his Abuja club, Hustle & Bustle, after two weeks of closure following...

    2023 election: Atiku my presidential candidate, not Tinubu, Mr Ibu clarifies

    A few days ago, ace comic actor, John Okafor fondly referred to as Mr Ibu by his admirers was reported to have...

    Petrol tanker overturns, explodes in Ogun

    A tanker loaded with Premium Motor Spirit, popularly known as petrol, has on Sunday exploded in Abeokuta, the Ogun State capital.

    Don't Miss

    ‘He has dementia’ – Joke Silva speaks publicly for the first time about husband Olu Jacobs’ health

    Nollywood veteran Joke Silva has for the first time spoken about the health of her husband, Olu Jacobs. The...

    Sit-at-home order: Mondays not work-free day in Anambra — Commissioner

    The Commissioner for Information and Public Enlightenment in Anambra State, Mr C. Don Adinuba, has sounded a note of warning to workers...

    VON DG, Osita Okechukwu, urges Buhari to release Nnamdi Kanu

    Mr Osita Okechukwu, a Chieftain of All Progressives Congress has appealed to President Muhammadu Buhari to honour elder statesman Chief Mbazulike Amechi...

    NDLEA arrests drug dealer behind cocaine hidden in Lagos airport toilet

    Operatives of the National Drug Law Enforcement Agency have arrested a Brazil-based drug dealer, Okafor Okwudili Moses, over 2.55 kilograms of cocaine...

    Former senator Gbenga Aluko slumps, dies in his Abuja office at 58

    Gbenga Aluko, former senator from Ekiti state is dead. The politician reportedly died on Saturday, November 20, 2021, after...

    Stay in touch

    To be updated with all the latest news, offers and special announcements.