Wasiu Ademola Bakare, a member and one of the elders of the Epe Club, an influential group of Epe indigenes, has written an open letter to President Bola Tinubu, urging him to deliberately manage the successes of his administration’s economic reforms, particularly the removal of fuel subsidies and the changes to foreign exchange policy. Bakare, … Read more
In a stark contrast, Nigerians are paying higher petrol prices than residents of Metro Atlanta, USA, despite Nigeria’s status as an oil-rich nation. While petrol in Atlanta costs around $2.70 per gallon (67 cents per litre), equivalent to 1,102 naira per litre at the current exchange rate, Nigerians face an average price of 1,300 naira … Read more
Eko Hot Blog reports that the national average retail price for Premium Motor Spirit, commonly known as petrol, saw a significant year-on-year increase of 37.44%, rising to ₦750.17 per litre in June 2024 from ₦545.83 per litre in June 2023. This data was revealed in a recent report by the Nigerian National Petroleum Corporation (NNPC). … Read more
EKO HOT BLOG reports that Former Bauchi State Governor Isa Yuguda has contradicted President Bola Tinubu’s previous statement regarding the elimination of fuel subsidy, asserting that the federal government continues to subsidize petroleum products. This revelation adds to the ongoing discussions surrounding the economic implications of subsidy removal in Nigeria. President Tinubu had announced the cessation … Read more
APC chieftain Olatunbosun Oyintiloye challenges governors to account for increased allocation from post-fuel subsidy removal Calls for transparency on how the windfall has been utilized to alleviate economic hardship Urges governors and civil servants to support President Tinubu’s efforts to fix the economy Eko Hot Blog reports that an All Progressives Congress (APC) chieftain in … Read more