News

Fuel Pump Price Jumps By 91% In Six Years

Published

4 years ago

May 9, 2022

The cost of fuel pump increased from N87 per litre as of December 2015 to N165.77 by December, 2021, showing an increase of 90.54per cent.
This is, according to the Fuel Pump Price Per Litre – Average (PMS) data from the Central Bank of Nigeria (CBN).
The Nigerian National Petroleum Company Limited (NNPC) became the sole importer of petrol in Nigeria in 2016 after the Federal Government introduced the price modulation mechanism, which saw the pump price of the commodity rise.
A few months after the hike in May, 2016, the value of crude oil in the international market soared, while the value of Nigeria’s currency, the naira, slid to almost N500/dollar, from about N197 to the dollar.
This affected the landing cost of petrol, which rose steeply, and the country not willing to hike the pump price of the commodity again, soon returned to subsidising the product.
The NNPC said that fuel subsidy gulped N306.92billion in 2015.
In 2021, the NNPC said fuel subsidy gulped N1.43trillion, although there was no record for under-recovery in January.
This means that the cost of fuel subsidy rose by 365.92per cent within the six-year period.
The NNPC called the subsidy payments under-recovery and deducted it from the proceeds of its domestic crude oil sales, before making remittances to the Federation Account.
President Muhammadu Buhari, announced himself as substantive Minister of Petroleum in 2015.
Before his regime, Buhari had denied the existence of fuel subsidy, describing it as fraud.
However, as a president, Buhari has failed to address the fuel subsidy crisis, which drains government revenue.
The World Bank and the International Monetary Fund have decried the continued spending by the Nigerian government on the petrol subsidy, urging the government to end the subsidy regime.
However, the Nigeria Labour Congress (NLC) and other pressure groups and trade unions had threatened nationwide protests against the removal of the fuel subsidy.
Although the Federal Government had planned to eliminate the fuel subsidy by June, 2022, the government backtracked on the plan and extended the subsidy regime by 18 months.
The Nigerian Bar Association, amongst others, had described the decision of the All Progressives Congress-led government to suspend its planned petrol subsidy removal as an election strategy.
Also, the NNPC has said a total of N4trillion from the Federal Government is required to fund the fuel subsidy in 2022.
Recent figures from the NNPC showed that fuel subsidy gulped N675.93billion in the first quarter of 2022.
According to the oil firm, fuel subsidy gulped N210.38billion, N219.78billion, and N245.77billion in January, February, and March 2022, respectively.
The President’s Special Adviser on Media and Publicity, Femi Adesina, earlier this year said Nigerians would have to pay a price to continue subsidising PMS, adding that the country might be left with no other choice but to continue borrowing to shoulder its fiscal overhead.

News

198 UNIBEN Students Bag First Class

Published

4 days ago

November 24, 2025

The Tide

A total of 198 students of the University of Benin (UNIBEN ) Edo State, bagged a First Class degree out of 14,083 students to be awarded first degree at the institution’s 51st Convocation and Founder’s Day ceremony.

Vice Chancellor of UNIBEN, Prof. Edoba Omoregie, disclosed this on Monday in Benin at a pre-convocation press briefing.

He said 4,217 students bagged a Second Class Upper, 7, 928 got a Second Class Lower, while 578 bagged a Third Class degree.

He said 15 new approved programmes by the National Universities Commission (NUC) would commence in the 2025/2026 academic session.

According to him, “The wheel of progress is on course and moving steadily in the University of Benin. This administration is poised to deliver on its mandate of effective, practical teaching, sound learning, result-oriented research and impactful community service.

“We must applaud the President Bola Ahmed Tinubu, for establishing NELFUND, and by so doing significantly reducing the financial stress of students in the process of acquiring tertiary education. We enjoin students and their parents to take full advantage of the federal government’s benevolence in instituting the fund.”

Prof. Omoregie disclosed that Nigeria’s Minister of Regional Development, Engr. Abubakar Momoh, would deliver the Founders’ Day lecture with the topic, “Reforms for a Shared Prosperity”.

The UNIBEN VC said Director General of the Nigerian Institute of International Affairs and Former Vice Chancellor of Igbinedion University, Okada, Edo State, Professor Eghosa Osaghae, would deliver the Convocation Lecture on the theme, “Making Our Universities Great”.

News

Bayelsa Education Fund, British Council trains tra 1,000 teachers

Published

4 days ago

November 24, 2025

The Tide

The last batch of 400 public school teachers in Bayelsa State on Monday commenced training under the sponsorship of Bayelsa Education Development Trust Fund (EDTF) and the British Council.

This batch will bring to 1000 the number of public school teachers in the state who have benefited in the partnership arrangement.School supplies

The EDTF, British Council and Teachers Training, Registration and Certification Board collaborated in the capacity development programme.

Speaking at the opening ceremony of the five day capacity building program, Commissioner for Education Dr Gentle Emelah reiterated the commitment of the Bayelsa government to training and capacity of teachers in the state.

He noted that the improved teaching methodology in the state was responsible for the state producing the best student in the 2025 West African School Certificate Examinations.

Prof Ebimiowei, Executive Secretary at EDTF, noted that the collaboration is aimed at improving learning outcomes for pupils and students of public primary and secondary schools in Bayelsa.

“You will agree with me that until the cutlass is sharpened, it will have no impact on the hands of the farmer and so it is with our teachers., you need to be sharpened very well to give good delivery in your various classes and schools.

“Let me at this juncture appreciate the British Council for accepting to train 1,000 teachers, 50 education managers and 60 trainers for Bayelsa,” he said.

On his part, Chairman of the EDTF board, High Chief Fidelis Agbiki expressed appreciation to the Commissioner for Education Dr Gentle Emelah for his supportive role to the fund.

Agbiki urged the beneficiaries to justify the enormous resources invested by the government of Bayelsa by being dedicated within the five days the exercise would last.

He said; “This board will not operate on business as usual but on business unusual as we will push the frontiers outside the box to ensure that we get value for money,” Agbiki said.

Chairman of Development Partners Committee of the EDTF applauded the commitment of the partners for the successful completion of the programme, urging them to sustain the tempo

Speaking on the programme, Mr Fwanshishak Daniel, Head, English and Schools, British Council noted that the Bayelsa government had shown exemplary commitment to educational development.

He explained that the commitment has enabled the British Council and Bayelsa government to achieve within one year greater milestones that took other states three years to achieve.

He explained that the resources of the British Council have been made available to Bayelsa with the training of 60 resource persons from the state who will in turn train other teachers to improve education.

According to Daniel, the training will lay emphasis on new teaching methods, use of digital tools for self development and access to school amongst others.

Dr Peremoboere Ogola, Acting Chairman of TTRC, which facilitated training, thanked the EDTF for supporting training of teachers in Bayelsa with world class resources of the British Council.

She noted that another batch of newly recruited teachers are currently undergoing training at State government owned University of Africa, Toru Orua, Sagbama LGA in Bayelsa

News

RSG INAUGURATES ARMED FORCES REMEMBRANCE DAY COMMITTEE

Published

4 days ago

November 24, 2025

The Tide

The Rivers State Government has inaugurated a Central Planning Committee to organize the celebration of the 2026 Armed Forces Remembrance Day (AFRD) in the State.

The committee was formally inaugurated by the Secretary to the State Government, Dr. Benibo Anabraba in Port Harcourt, last Thursday.

Dr Anabraba who also serves as Chairman of the Committee

highlighted the State Government’s deep appreciation for the sacrifices of Nigeria’s fallen heroes who laid down their lives for the nation’s peace and unity.

“These heroes have given their lives for the security and peace of our nation and deserve to be celebrated. The Armed Forces Remembrance Day is an opportunity to show our gratitude for their sacrifice,” he said.

Dr. Anabraba further extended recognition to all Security Agencies in the State, emphasizing the importance of the event in appreciating their contributions to national security and sovereignty.

The annual Armed Forces Remembrance Day, observed on January 15 across the country is dedicated to remember Nigeria’s departed soldiers and honouring the nation’s veterans.