The group managing director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has accused a cabal of ripping off the benefits of the fuel subsidy regime meant to be relinquished to the masses. Kyari disclosed that subsidy had to be abolished due to the high rate of fraudulent activities surrounding it. West Africa Pilot had reported the removal of the subsidy which led to an increase in petrol and electricity prices across Nigeria. While...

The decision of the federal government to allow market forces to determine the retail price of petrol in Nigeria resulted to a rift among many as conflicting opinions flew left and right. While some commended the new electricity tariff and subsidy removal, canvassing for structural reforms, others kicked against the proposition including the People’s Democratic Party (PDP). The opposition party urged the government to announce the total removal of petroleum subsidy and under-recovery through a...