FG Still Paying For Petrol Subsidy - World Bank

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Other news... Lt. Colonel Olabisi Ayeni is seeking for more media collaboration

The World Bank says the federal government of Nigeria is still paying for petrol subsidy as fuel prices in Nigeria are currently not cost-reflective.

The World Bank’s lead economist for Nigeria, Alex Sienaert, confirmed the continuous payment of petrol subsidy by the government during his presentation of the Nigeria Development Update.

He said Nigerians should pay about N750 per litre as against the current price of N650 in some places.

This is despite the numerous assurances by President Bola Ahmed Tinubu that the petrol subsidy regime is gone.

Now we know that the government paid N169.4 billion as subsidy in August to keep the pump price at N620 per litre.

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Meanwhile, the Nigerian National Petroleum Company Limited says it remitted N4.5trillion revenue into the Federation Account as at October 2023.
The Group Chief Executive Officer of NNPCL, Mele Kyari, disclosed this during an interactive session with the Senate Committee on Finance.
Kyari said the present hardship in the country would soon be over and give way to prosperity.

The Spokesman of 81 Division of the Nigerian Army, Lt. Colonel Olabisi Ayeni is seeking for more media collaboration in the reportage of Army activities.
He made this call while on a courtesy visit to the studios of Wazobia Fm, Cool Fm and Nigeria Info Fm in Lagos.
Responding, the General Manager of the Coolwazobiainfo Fm, Femi Obong-Daniels assured the Army spokesperson of the stations support in making sure it has a voice in conversations involving the military.


The Speaker of ECOWAS Parliament, Sidie Tunis, says the sanctions on Niger Republic will be lifted if the junta releases President Mohamed Bazoum.

The Speaker gave the assurance when a 19-man delegation from Africans Without Borders paid him a courtesy visit in Abuja.

The visit was to prevail on the parliament to support the lifting of sanctions on Niger to ease the suffering of ordinary people in that country.