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Udo-Ngadi was, on Thursday, 26 January 2017, sentenced to 10 years in prison by a Lagos-based High Court sitting in Ikeja for fuel subsidy fraud [3] alongside the chairman of Ontario Oil & Gas Nigeria Limited, Walter Wagbatsoma. In addition to the jail sentence, Ngadi was ordered to refund N754 million to the Federal Government of Nigeria being ...
The committee was set up in the wake of nationwide strikes in Nigeria after President Goodluck Jonathan removed a fuel subsidy. This resulted in the increase in price of fuel. [ 4 ] The committee's report released in April the same year revealed a huge scam in which Nigerian fuel companies were being paid hundreds of millions of dollars in ...
In 2012, Zenon was among a number of companies named in a report into an alleged fuel subsidy scam. According to the report Zenon owed the government $1.4 million. [ 17 ] It was further reported that Farouk Lawan , the Nigerian legislator who compiled the report, had apparently been filmed collecting $500,000 of a supposed total sum of $3 ...
Senegal's electricity and fuel subsidies hit 3.3% of GDP last year, while Angola's 1.9 trillion kwanza ($2.1 billion) subsidy bill in 2022 was more than 40% of spending on social programmes ...
Nigeria has saved over 1 trillion naira ($1.32 billion) in just over two months by scrapping a popular but costly subsidy on petrol and moved to unify its multiple exchange rates, President Bola ...
Frontline doctors in Nigerian public hospitals began an indefinite strike on Wednesday over grievances including demands for a pay rise after the removal of a subsidy on petrol, the doctors' union ...
The location of Nigeria, on the African continent. Occupy Nigeria was a socio-political protest movement that began in Nigeria on Monday, 2 January 2012 in response to the fuel subsidy removal by the Federal Government of President Goodluck Jonathan on Sunday, 1 January 2012. [4]
Nigerian President Bola Tinubu has scrapped a decadeslong government-funded subsidy that has helped reduce the price of gasoline, leading to long lines at fuel stations Tuesday as drivers ...