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Tag: petrol subsidy

Nigeria’s Debt Service Cost Hits N1.94trn, Overwhelms Revenue By N310bn

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed
Petrol subsidy may gulp N6.72trn in 2023 Projects N17.99trn aggregate expenditure, N373.17bn oil revenue The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed yesterday sounded the alarm bellsRead More

Oil Price Surge: As NNPC Falters, Saudi Aramco’s Q1 Profit Jumps 82% To $40bn

Nigerian National Petroleum Corporation (NNPC)
As the Nigerian National Petroleum Corporation (NNPC) continues to default in its contribution to the federation account, Saudi Aramco, owned by the Saudi Arabian government yesterday posted an 82-per centRead 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