According to The PUNCH, the Nigerian National Petroleum Company Limited may deduct over N1tn in the next six months from the Federation Accounts Allocation Committee, following the decision of the Federal Government to continue subsidising Premium Motor Spirit, popularly called petrol.
There would be dire consequences, the Organised Private Sector (OPS) stated, yesterday, in reaction to Federal Government’s suspension of the planned withdrawal of the subsidy regime announced on Monday. The warning came from the Lagos Chamber of Commerce and Industry (LCCI) and the Centre for the Promotion of Private Enterprise (CPPE), The Guardian reports.
The federal government finally failed in its efforts to remove the highly contentious subsidy on petrol yesterday when it disclosed plan to recommend an 18-month extension of the Petroleum Industry Act (PIA) to the National Assembly, This Day says.
Daily Trust reports that the federal government had a second thought on fuel subsidy removal to save the ruling APC from defeat in the 2023 general elections, experts in Nigeria’s oil and gas industry and university dons said on Tuesday.
According to Daily Independent, the National Assembly on Tuesday harmonised its position on consensus candidacy, with the House of Representatives agreeing with the Senate on inclusion of consensus candidacy in the Electoral Act Amendment Bill.
Thank you for reading, that all for today, see you again tomorrow for a review of Nigerian newspapers.