Nigeria’s Petrol Subsidy Hits N707bn Monthly, Say Oil Marketers

NNPCL Reduces Petrol Price Again

With petrol landing cost at N1,117 per litre, Nigeria’s monthly subsidy on petrol has increased to N707bn. EKO HOT BLOG reports that with the landing cost of Premium Motor Spirit (PMS) at N1,117 per litre, the monthly subsidy for petrol has surged to approximately N707bn, according to oil marketers on Monday. As the Dangote Petroleum Refinery … Read more

“You Are Spinning A Web Of Deceit” – Presidency Cries Foul Over Obi’s GDP Statistics Comments

Presidency Peter Obi GDP Statistics


The Presidency criticized Peter Obi for his comments on Nigeria’s GDP, calling his statistics misleading and questioning his motives.

EKO HOT BLOG reports that the Presidency has criticized Labour Party (LP) presidential candidate Peter Obi for his comments on Nigeria’s Gross Domestic Product (GDP) statistics. Obi, the former Governor of Anambra State, expressed concerns over the ongoing economic crisis, recalling that Nigeria had the largest economy in Africa in 2014.

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On his official account on X, Obi noted that the economy started to decline in 2015. He highlighted a significant contrast between Nigeria’s economic growth during its early post-democracy years and its current state.

Obi stated that from 1999 to 2014, Nigeria saw an average GDP growth rate of approximately 6.72%. However, this growth dropped to 2.79% in 2015, leading to an economic downturn in 2016.

In response, Bayo Onanuga, Special Adviser to the President on Information and Strategy, accused Obi of using misleading statistics and questioned his motives for reviewing the economy at this time.

Onanuga said Peter Obi aims to work up his mob plotting to destabilise the country from next week.

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He wrote, “Labour Party failed presidential candidate, Peter Obi has come up with his misleading, half-truth statistics again. The big question is why this economic review at this time?. The motive is clear: he wants to work up his mob plotting to destabilize the country from next week.”

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CBN Governor Given 7-Day Ultimatum To Account For ₦100 Billion In Bad Notes

CBN Governor ₦100 Billion Bad Notes

SERAP has given CBN Governor Olayemi Cardoso a seven-day ultimatum to account for over ₦100 billion in ‘dirty notes’ and missing funds for unfinished projects, as detailed in the Auditor-General’s report. EKO HOT BLOG reports that the Socio-Economic Rights and Accountability Project (SERAP) has issued a seven-day ultimatum to the Governor of the Central Bank of … Read more