Fuel Subsidy

When the federal government announced last week that removal of petrol subsidy had generated an estimated ₦15.8 trillion in savings between June 2023 and December 2025, the figure was presented as further evidence that Nigeria's painful economic reforms were working. It is, unquestionably, a significantly large number.

Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has unveiled a new petroleum subsidy model that would shift government support from imported fuel to crude supplied to qualifying Nigerian refineries. Under the proposed Atiku...

Former Vice President Atiku Abubakar has challenged President Bola Tinubu to account for an estimated ₦30 trillion in Federation revenues, deductions, savings, transfers and related funds, saying a reconciliation of publicly available figures has continued to raise questions...

July 07, (THEWILL) — President Bola Tinubu, on Monday, said the removal of fuel subsidy, though painful, was necessary to free up fiscal space and redirect national resources to sectors that benefit the broader population Speaking at the opening of...

July 02, (THEWILL) — Former presidential spokesperson, Garba Shehu, has said the decision by the Muhammadu Buhari administration to remove fuel subsidies was driven by economic necessity, not political sabotage. Shehu, who served as Senior Special Assistant on Media and...

October 13, (THEWILL) – The recent fuel price hike in Nigeria, announced by the Nigerian National Petroleum Company Limited (NNPCL) on October 9, 2024, has brought the issue of fuel subsidies back into the national spotlight. The increase, which...

September 01, (THEWILL) – Dr. Reuben Abati’s recent commentary on the saga of renewed fuel queues that were largely absent in most of President Buhari’s two-term tenure and Buhari’s refusal to remove fuel subsidy towards the end of his...

August 27, (THEWILL) – I was away on vacation for just two weeks only to return to meet fuel queues still on the streets of Nigeria with the fuel stations rationing fuel in Lagos and other parts of...

June 17, (THEWILL) - On 12 June – a day set aside to commemorate the 25th year of Nigeria's unbroken democratic experience last week Wednesday – President Bola Ahmed Tinubu tumbled and fell. That's the consequence of choking off...

June 06, (THEWILL) - The Federal Government has said the position of President Bola Tinubu on fuel subsidy removal has not changed from what he declared on May 29, 2023. Special Adviser to the President on Information and Strategy, Bayo...