NewStats: 3,264,365 , 8,183,480 topics. Date: Tuesday, 10 June 2025 at 06:38 PM 1a2y3p

President Bola Tinubu is considering a “temporary subsidy” on petrol as crude oil prices and foreign exchange rates continue to soar, TheCable understands.

There is yet no final decision, presidency sources told TheCable, but the proposal is “firmly on the table” as Nigerians continue to groan under harsh economic realities following the removal of petrol subsidy in May 2023.

Already, labour unions have threatened to embark on an indefinite strike if the petrol price further surges.

The Kenyan government, on Monday, re-introduced fuel subsidies to curb soaring prices of petrol, kerosene, and diesel in the country.

The move came after months of violent anti-government protests over the burden of high cost of living.

According to a presidency official, the “realistic” amount of petrol consumed in the country is now known following the removal of subsidy on Tinubu’s inauguration, hence the amount spent on subsidy “can now be controlled”.

On Monday, the Nigerian National Petroleum Company (NNPC) Limited said there are no plans to hike pump prices despite the rise in crude oil prices, landing cost, and fall in the value of the naira.


This is understood to be an option for Tinubu to keep the current prices, although private importers have not made a definite pronouncement on any possible adjustments.

But speculations around another increase in the pump price of petrol (currently at over N600) have caused tensions across the country, leading to panic buying in the early hours of Tuesday.

Since Tinubu announced the removal of the petrol subsidy, Nigerians have had no respite from price hikes.

Foreign exchange challenges, coupled with the unrestrained slump of the naira — Nigeria’s local currency — have led to a sustained upward trend, in the prices of goods and services.

On Monday, TheCable reported that the Central Bank of Nigeria (CBN) plans to implement new measures to stabilise the naira against the dollar.

Weeks after Tinubu was inaugurated as Nigeria’s elected president, his istration — already fraught with legitimacy issues — quickly introduced several policies in a bid to revive the economy.

But with the current economic realities, it appears that these policies are not yet yielding the expected results

https://www.thecable.ng/exclusive-tinubu-considering-temporary-subsidy-on-petrol-as-landing-cost-rises/amp

E don choke the werey

This further proves that this man is empty

He never had plans at first

If he had plans he won’t rush to make that announcement

Na overhyping kill Ebola

Master strategist, first class ing graduate from Chicago, a man with track records, he built Lagos yen yen yen

Just watch the same miscreants that was shouting subsidy is gone for good will align with subsidy extension now

Confused leader and his brainwashed minions

He heard Obi talking about subsidy removal you didn’t even ask Obi how and what plans

He just copied and paste Obi’s words

INEC carry mandate sell give person wey him peniss no dey stand to rule a whole me

Omo

Another policy somersault by the overhyped economic illiterate. Tinubu is just reactionary and itchy but have zilch knowledge of how the dynamics of subsidy works

It’s how it works; a candidate cannot seek to separate himself from his party’s successes or failures. Brings me to the main issue, which is Bola Tinubu’s attempts at touting himself as ‘pro masses’ by trying to failures and anti-people policies that have being since 2015. It doesn’t work that way.

Nigerians have unanimously agreed that the APC istration since 2015 is the worst of our lifetime. What’s more? Everyone (including APC ers) are in agreement that the Buhari-led APC Government’s Anti-people policies have made people poorer and more miserable.

Bola Ahmed Tinubu, the APC Presidential candidate has promised (with no ambiguities) to continue the failed anti-people policies of the current government

istering a country with multi-complex problems especially self induced by the clueless, and catastrophic APC government in Nigeria is not by sniffing cocaine and heroin or by a balabloo-blu-bulava mentality.

The good thing about eating one's words is that it doesn't make one fat.

However, this new development even if it is being considered is a red flag that President Tinubu is not as prepared for governance as he campaigned. Unfortunately, not appearing for media interactions or debate didn't help. That President Tinubu knew he would implement the removal of subsidy and floating of Naira soon after inauguration but had no plans to manage the consequences of the these major policy shift paints a scary picture about his future policies.

My suggestion is that Tinubu could go on and appoint Wale Edun the Finance minister as well as appoint his President Economic Team for the usual armchair 'economic indicators' advice. However, he should he headhunt for some young hothead economists and financial experts and place them under his office to serve as his thinktank in brainstorming on policies and programs, engaging in scenario planning, doing risk-benefit analyses, SWOT Analysis, etc to give him the big picture and bird eye view advantages. We need practical ideas from thinking out of box to solve our problems here rather than some textbooks stuff.

How on earth is value of Naira falling and the CBN is speaking grammar. How about rolling about plans with sincere incentives to encourage the local production and exports to cure our trade deficits. Nothing is happening in our economy at the moment. We are just selling crude oil. What about other solid natural minerals? If we share borders with Niger, are we sure we don't have uranium?

Abagworo:


https://www.thecable.ng/exclusive-tinubu-considering-temporary-subsidy-on-petrol-as-landing-cost-rises/amp

Temporary subsidy on petroleum is not the way to go. Government should try and sanitize the purchase and supply chain associated with the diesel and PMS business. The inherent corruption should be addressed

Yeah right,keep dreaming..."subsidy is gone!!!"

If competency was a crime, Tinubu would never be guilty.

Tinubu is clueless. He is not a leader. Imagine removal of subsidy without precautionary measures, now he wants to reintroduce the subsidy he swore never to reintroduce. What he wants to do now is paracetamol after headache, because inflation has gone up with the original price hike, so even if PMS is resubsidized, it won't guarantee lower costs of goods and services.

He has bastardized the dollar rate too. Unemployment has shot up astronomically. Inflation is more than 50% for many goods.

Despite this man's flaws and shortcomings, his foot soldiers will still come online and praise him as the best thing after sliced bread. Over 2k daily wage. Very sad. The same man who said "na statistics we go chop?"

They'll soon troop out to defend their ruler, lord and personal saviour: IconicR, TemplarLandry, Moh247, Helineus etc etc. Your clueless leader has spoken. Oya defend nonsense again.

Man dey confuse. Wetin dey confuse Tinubu like this. I thought you were the solution

Another policy somersault

Vision less preeq

Hmmm

Confused man, watch how his agbero ers will defend him

hahahahahaha....master strategist in the mud

Racoon:
Another policy somersault by the overhyped economic illiterate. Tinubu is just reactionary and itchy but have zilch knowledge of how the dynamics of subsidy works

istering a country with multi-complex problems especially self induced by the clueless, and catastrophic APC government in Nigeria is not by sniffing cocaine and heroin or by a balabloo-blu-bulava mentality.

You be capital Olodo. This news is not confirmed yet. However, let's even assume it is confirmed.

Where in the world is it wrong for you to make a policy which is targeted at helping the economy and then reverse or modify the policy when the outcome of the policy has certain serious effects.

This is the kind of man we want to lead us as a Nation. A Leader that wants the best for the Nation
A Leader that can make bold positive moves
A Leader that can quickly assess the impact of his policies and seek ways to make things better
A Leader that listens

I have said over and over that the problem we have in Nigeria is not anyone's mate. And Tinubu is the man that can at least build the foundation for a better Nigeria. I have always maintained the stand that some policies might be reversed and some modified depending on outcomes.

Not one Liar, Pretender and Olodo that came on live TV to say that there is nothing bad in not building infrastructure for 8 years as Governor. That Guy and the people that follow him sheepishly annoy me to the bones. How can a people be so gullible.

This man doesn't understand the pressure ruling 200m people. . He thought it was Lagos State.

He is already re-considering artificial influx of Forex into the market to mitigate it's scarcity and reduce naira devaluation, may be.

Now, he is already positioning for a reverse of the subsidy removal initiative.

Truth, that he didnt realize is that if he does not do both things now, the economy and the naira will completely collapse within the next 2 months max.

It has gotten to the extreme of the wall.

Perhaps, and I believe mostly likely that Buhari regime made thing very difficult for him, but he has not shown enough capacity or sensitivity to bear the burdens of the people. The leakages and arbitrarily spending of the executive and the legislature has not been be fixed or even looked at.

If he does not address that matter of the welfare of the masses in a gross way, thereby bearing the burden of the people, he will not be able to withstand the load of the consequece.

He is quite a responsive man, but nothing can really be achieved with corruption are the core of processing.

How can Nigerians survive Badluck since 2015 and move to Shege in 2023 Kudos to Niger citizens they are not cowards

YouAreNobody:
hahahahahaha....master strategist in the mud

We are not astonished by you people's comment.

You were wailing and bullying people before APC primaries, Waling and bullying before general elections, Wailing , foaming in the mouth after elections.

All of you will continue to wail, foam in the mouths and develop HBP forever and ever

Wail on people

the truth can only hide but for a brief moment the truth will always show.

See the stupid useless clueless geriatric bastard.

After setting the country ablaze with tribalism and retrogressive policies he wants to back track.

Watch how foreign investors will flee this idiot. Nothing scares foreign investors like policy summersault

This foolish lizard had no plan or blueprint for the nation this lizard just wanted to answer Mr president .

His people attacked and divided the nation wit hatred.
They call everyone who refused to dance to their tune igbo. As if those Igbos are not humans.

See this has finished any chance of a any southwest candidate ruling for the next 50 years. After Igbos do their time my brother my current governor par excellence H.E. Sir Obaseki will the president after the Igbos have done theirs.

Tinubu is nothing but a disappointment. A shame

All the propaganda and lies about having a master plan , where is it? It was all a mirage ! Lies !

See All the foreign investors.will make immediate u turn... this president is so useless.

Spent more time learning how to deceive people than being intelligent.

Now here we are, after all the noise that he has a plan.barely 2 months and suddenly policy summersault

🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🔥🤣

Hahahaha
Shouting its my Turn with no concrete plans

Idiot

This has to be the most clueless president ever globally.

How else can one explain this failure of a man after putting the largest assembly of the black race through intense pains

I didn’t even bother to read it before writing this.

To be a Nigerian is truly a big mistake

Time will tell

Okay

hmm

chai Iberibe ajoka... After all the useless noise

Scam

Return the subsidy please, it doesn't favor the masses.

Lol, reminds me of trial and error method in solving mathematics. once anyone uses this method, know that he does't know the answer

I thought Subsidy is gooooooon?

After propaganda comes the hard reality.

If it didn't dey, it didn't dey. propaganda and ethnic bigotry can not save you. Nigeria has entered one chance

No way