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Fuel price hike: How Nigeria wasted N10trn on subsidy

THE controversy that preceded the recent announcement by the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, who doubles as the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, of government’s decision to scrap the Petroleum Support Fund, otherwise known as fuel subsidy, raises questions as to the economic value the people derive from the acclaimed payment. Although this came on the heels of prolonged scarcity of the product which sold between N120 and N250 per litre, depending on your location, most people were opposed to the hike in the price of the commodity.

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One year after: Buhari has done enough to inspire hope—Adesina

For obvious reasons the talking point in the Nigerian polity as President Muhammadu Buhari marks his first year in office is government’s decision to scrap the contentious Petroleum Support Fund, otherwise known as fuel subsidy, a development culminating in marketers being directed to sell premium motor spirit, PMS, also known as petrol, between N135 and N145 per litre. Not surprisingly the hike in the pump price of petrol elicited mixed reactions, with those against it raising a deafening din of condemnation and demanding that government should immediately revert to status quo: that is, continue to sell the product at N86.50 a litre.

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Heatwaves: More discomfort, health risks

THE warning by the Nigerian Meteorological Agency, NIMeT, that Nigerians should brace up for more hot days, warm nights and heatwave across the country did not come as a surprise. Indeed over the past few months, Nigerians have been on the receiving end of intense waves of hot and humid air currents blowing across the nation, a development which has become a topic of popular discussion and a source of concern among medical and scientific experts.

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