Fuel subsidy

Fuel subsidy

Non-Oil Export
BANKING & FINANCE OIL & GAS
There are more compelling reasons now than before for the Federal Government to remove the petroleum subsidy, and channel the money into some other social intervention programmes of ...
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PPPRA Slashes Price of Petrol
OIL & GAS
The Federal Government has given the assurance that there are no plans to remove fuel subsidy now just as queues emerged in filling stations in some parts of ...
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World Bank
COVER NEWSLETTER OIL & GAS
Oil sector productivity declined despite healthy prices A World Bank report called the “Nigeria Biannual Economic Update” for 2018, which was released on Monday  reveals that Nigeria spent ...
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State Governors
BUSINESS & ECONOMY OIL & GAS POLITICS & GOVERNMENT
National Economic Council (NEC), comprising the 36 State Governors in the country has threatened to take over the responsibility of subsidising petroleum products in their states based on ...
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Subsidy
OIL & GAS
The Nigerian National Petroleum Corporation (NNPC) has been accused by state governors of fraudulently doubling the nation’s daily petrol consumption from about 30 million to 60 million litres. ...
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Fuel Subsidy Quaffed $35billion in Five Years
Nigeria expended an estimated $35billon on payment of subsidy on petroleum products out of the $300bn earned from crude oil from 2010 and 2014. A former acting group executive director ...
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FG To Save N1.4trillion Yearly From Fuel Subsidy Removal
The federal government is saving over N1.4 trillion from the recent removal of subsidy from the pump price of premium motor spirit that would have been expended on ...
3

POLITICS & GOVERNMENT TRANSPORT & LOGISTICS
The Trade Union Congress of Nigeria has kicked against the proposed reintroduction of tolls on federal roads to assist the government in raising funds, describing the development as ...
0

“Withdrawal of Fuel Subsidy Kicks Off in 2016” – FG
The federal government on Monday, December 14, has said it would begin a gradual withdrawal of fuel subsidy from 2016. The Minister of State for Petroleum,  Ibe Kachikwu, ...
4

Reps Deliberate on Sale of Oil Refineries, Fuel Subsidy Removal
The House of Representatives on Wednesday, December 9, directed  its committees on Petroleum (Upstream/ Downstream) to investigate the state of the refineries in the country. Both committees, which ...
1

FG Approves Immediate Payment of N407billion Subsidy Debt to Oil Marketers
The Federal Government of Nigeria has approved the immediate payment of N407 billion ($2.1 billion) owed to fuel importers under a subsidy scheme, the finance ministry revealed on ...
4

“Fuel Subsidy to Take Up 30% of Nigeria’s Revenue by 2018” – World Bank
The World Bank on Tuesday, December, lamented the costs of fuel subsidy in Nigeria stating that if the current regulated prices were maintained, fuel subsidy cost would climb to ...
7

FG to Clear Part of Fuel Subsidy Debt Owed Marketers This Week
The Federal Government, on Tuesday, December 1, assured fuel marketers in the country that they would get part of the N413billion fuel subsidy it approved for them this ...
3

Fuel Subsidy Claims Soar to N521billion
Fuel subsidy claims contained in the 2015 Supplementary Budget submitted to the National Assembly by President Muhammadu Buhari has leaped from N413 billion to N521 billion. The original ...
5

Review TSA Policy and Remove Subsidy – Soludo Tells FG
Former governor of the Central Bank of Nigeria, Prof. Chukwuma Soludo, on Thursday faulted the implementation of the Treasury Single Account (TSA) by the Federal Government and called ...
1

National Assembly Denies Receiving Proposal for Approval of N413 Billion Subsidy Arrears
Contrary to claims by the Minister of State for Petroleum Resources and Group Managing Director, Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, that the federal government was seeking ...
1

“FG Spent N222.1billion on Fuel Subsidy in First Half 2015 Without Approval” – House
The federal government reportedly expended N222.1 billion on fuel subsidy between January and July 2015 without approval from the National Assembly. Permanent Secretary, Ministry of Finance, Anastasia Daniel-Nwaobia ...
3

Nigeria Will Still Spend N1.124 Billion On Fuel Subsidy
Findings has revealed that the Federal Government will still spend an average of N1.124 billion monthly (N570.8 million daily) on subsidy of Premium Motor Spirit (PMS) , even ...
0

Focus on your job and leave fuel subsidy alone – NLC Tells NNPC Boss
The Nigerian Labour Congress and the House of Representatives have rejected the call by the new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Dr. Emmanuel ...
3

BUSINESS & ECONOMY OIL & GAS
The Group Managing Director of the Nigerian National Petroleum Corporation, Emmanuel Kachikwu, has described the nation’s fuel subsidy payments as “unsustainable”, saying that 20% of the nation’s budget ...
3
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