Main Menu

Tag: fuel subsidy

Fuel Subsidy, Nigeria Merely Struggling To Service Its Debts, Finance Minister Laments

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed
Declares policy hurting economy W’Bank estimates country may lose N5trn oil revenue to subsidy in 2022 Says seven million Nigerians may slip into poverty this year Soludo harps on fuelRead More

Rethink Your Policy On Fuel Subsidy, World Bank Tells Nigeria

President of the World Bank Group, Mr. David Malpass
Insists the rich benefit more from fuel subsidy than the poor Says barriers distorting country’s trade flows The President of the World Bank Group, Mr. David Malpass has once moreRead More

Moody’s Forecasts Phased Fuel Subsidy Removal Will Pose Challenge To Incoming Govt

Fuel Subsidy
States economy susceptible to shocks without more revenue One of the leading global ratings agencies, Moody’s has predicted that the phased removal of subsidy paid on petrol in Nigeria willRead More

Buhari Defers Subsidy Removal To Incoming Govt

President Muhammadu Buhari
Seeks 18 months suspension, to send PIA amendment to N’Assembly FG says decision has nothing to do with 2023 elections IMF insists on end, wants funds channeled to health, socialRead More

NEC: Fuel Subsidy Stays For Now, But May Be Removed Before Year End

National Economic Council (NEC)
Says petrol costs 100% more in neighbouring countries Reveals that N2trn spent on subsidy in 2021 Accuses NNPC of failing to fund FAAC to the tune of N200bn monthly inRead More

Lawan: Buhari Never Directed Fuel Subsidy Removal

President of the Senate, Dr. Ahmad Lawan
Doubts 100m litres PMS daily consumption TUC supports elimination of petrol subsidy The Senate President yesterday said President Muhammadu Buhari had not directed anyone in his government to implement theRead More

PDP Chieftain Faults NLC’s Planned Protest Against Subsidy Removal

Chief Sunny Onuesoke
Former Delta State Governorship aspirant on the platform of Peoples Democratic Party (PDP), Chief Sunny Onuesoke, has described the Nigeria Labour Congress (NLC) planned nationwide protest against the fuel subsidyRead More

W’Bank: FG, States Won’t Be Able To Pay Salaries In 2022 If Fuel Subsidy Is Retained

World Bank
Kyari: NNPC may start invoicing the federation to maintain subsidy Finance Minister reveals plan to introduce transport grant for vulnerable Nigerians El-Rufai: Despite oil prices rising globally, there is noRead More

Banks To Take Over Electricity Bill Collections

Electricity Bill
The Central Bank of Nigeria (CBN) has directed deposit money banks (DMBs) providing bank guarantees to Nigeria Bulk Electricity Trading (NBET) Plc and the Transmission Company of Nigeria (TCN) onRead More

Fuel Subsidy Will Not Return, FG Assures IMF

Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed
The Federal Government has given assurance that it will ensure that fuel subsidy, which was recently removed, will not be returned. The Minister of Finance, Budget and National Planning, Mrs.Read More