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Fed Govt Slightly Reverse The Price of PMS

Queue at the filing station  The President,  Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr  Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
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Tinubu-Reps: Fed Govt Needs N500b For Palliatives


President Tinubu seeking N500billio through Representatives


By Favour & Akinola Ajibade


Nigeria will spend N500illion for palliatives in order to cushion the effect of subsidy removal on petroleum products in the next few months, if all go according to plans. 

This happens, as President, Bola Tinubu, requested the approval of the House of representatives for an amendment of the 2022 supplementary appropriation Act. Through the amendment, the Federal Government will be sourcing N500 billion for palliatives, with a view to lessen the pains, which subsidy removal has brought to Nigerians.

The Speaker of the House of Representatives, Tajudeen Abbas, read the president’s letter during plenary on Wednesday.

Titled: “Request for the amendment of the 2022 appropriation act”, Tinubu said the money which the government is sourcing  from the 2022 supplementary Appropriation Act of N819.5 billion will be used as palliatives for Nigerians.

“I write to request the approval of the House of Representatives for an amendment of the 2022 appropriation act in accordance with the law.

“The request has become necessary in other to source for funds to provide necessary palliatives to cushion the effect of the recent removal of fuel subsidy in Nigeria.

“The sum of N500 billion only has been extracted from the 2022 appropriation act of N819.536 for the provision of palliatives to Nigerians to cushion the effect of fuel subsidy removal. I expect that the House will speedily consider the request,” the letter read.

The speaker said the lawmakers would consider Tinubu’s request at plenary on Thursday.

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