The Minister of Finance, Budget and National Planning Zainab Ahmed, said on Tuesday the Federal Government would use $2.2 billion out of the cash raised through...
President Muhammadu Buhari on Tuesday tendered an amendment of the 2022 Appropriation Act to the National Assembly. This was contained in a letter titled, “Submission of...
The Nigerian Midstream and Downstream Petroleum Regulatory Authority has disclosed that it has paid out N22.7 billion bridging claims to petroleum product transporters. According to the...
AUTHOR: Ugo Onuoha BOOBY-TRAP! That is what the regime of the President, Maj-Gen. Muhammadu Buhari, has set for the administration, if any, that would succeed him...
The Nigerian National Petroleum Company Limited has announced it spent a whopping N270.83 billion on subsidy payment in the month of December 2021. This is a...
The Nigerian National Petroleum Corporation (NNPC) plans to pay N270 billion per month to subsidize fuel consumption by Nigerians in 2022, raising its total subsidy payment...
The Presidency on Wednesday reiterated the total removal of fuel subsidies at some point in the future once the oil sector is completely revamped via the...
The Nigerian government has promised that before the end of 2022, Port Harcourt refinery in Rivers State would become operational. This was disclosed by Timipre Sylva,...
Minister of State for Petroleum Resources, Timipre Sylva has stated that the Nigerian government, led by Muhammadu Buhari, was not considering removing fuel subsidy at this...
The thorny issue of removal of fuel subsidies has led to an outpour of opposing reactions from different stakeholders across the country with the Senior Staff...
Governors of the 36 states in the country on Thursday resolved to engage the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) on the proposed...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the...
The Federal Government has suggested additional taxes, tariffs, and levies to be introduced in 2022 in order to boost revenue. Zainab Ahmed, Minister of Finance, Budget,...
President Muhammadu Buhari, as a presidential candidate strongly opposed former President Goodluck Jonathan’s plan to remove fuel subsidy, had declared in 2011 that the much-touted policy...
CLAIM President Muhammadu Buhari replaces ₦1.8 trillion Fuel Subsidy cost with ₦2.4 trillion for transport bonus. CONCLUSION FALSE. Though there are no open source documents that...
The Nigeria Labour Congress (NLC) has criticised plans by the Federal Government to eliminate the payment of fuel subsidies. This was contained in a statement issued...
The Governor of Kaduna State, Malam Nasir El-Rufai, has disclosed that state governments are ready to support the Federal Government over the total removal of the...
The minister of finance, budget and national planning, Zainab Ahmed, has put a price on the amount Nigerians will receive as transport allowance after the removal...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the...
The International Monetary Fund (IMF) has called for the complete removal of fuel and electricity subsidies in Nigeria early next year. In the concluding statement of...
Former Governor of the Central Bank of Nigeria (CBN) Sanusi Lamido, has called for the removal of fuel and electricity subsidies in favour of sectors that...
The Minister of Finance, Budget and National Planning, Zainab Ahmed, has lamented the increasing pressure on Nigeria’s revenue due to daily fuel subsidy payment. Ahmed, who...
Sanusi Lamido, former Governor of the Central Bank of Nigeria (CBN) has again reiterated his calls for the removal of subsidy on petroleum products, describing it...
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, said on Thursday the Federal Government spends between N140 billion to N150 billion...
The Nigerian Labour Congress (NLC) on Thursday restated its advocacy against removal of fuel subsidy by the Federal Government until the refineries are at optimal functionality....
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the mainstream...
Nigerians are now expected to pay more for petrol after the Federal Government resolved to end fuel subsidy in a bid to secure the World Bank’s...
In a bid to get the World Bank approval for the $3.4 billion loan request, the Federal Government has declared its intention to end payment of...
The Minister of State for Petroleum, Timpreye Sylva, blamed fuel subsidy for the poor state of Nigeria’s refineries. He made this comment while defending the plan...
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Melee Kyari, said on Thursday the corporation pays N120 billion monthly to subsidise Premium Motor...
Governors of the 36 states in Nigeria would hold an emergency meeting on Thursday to deliberate on issues relating to the rollout of the COVID-19 vaccines...
The World Bank has said Nigeria’s removal of fuel subsidy is a crucial decision taken in the face of the coronavirus crisis. It observed in its...
The senior pastor of Citadel Global Community Church, formerly Latter Rain Assembly, Tunde Bakare, has called on President Muhammadu Buhari-led administration to murder corruption and not...
The Petroleum Products Pricing Regulatory Agency (PPPRA) said on Monday the Federal Government had spent a total of N8.94 trillion on oil subsidy in the last...
About 30% of petrol product meant for local consumption is smuggled out of Nigeria on a daily basis to neighbouring countries, where fuel subsidy is not...
President Muhammadu Buhari said on Monday the Federal Government would not go back on its decision to remove fuel subsidy. The president, who stated this while...
The Minister of State for Petroleum Resources, Timipre Sylva, said on Thursday the Federal Government lacked the financial capacity to pay for fuel subsidy in the...
Oil marketers in Nigeria are ramping up the campaign for full liberalisation of the downstream segment of the oil and gas industry as Africa’s biggest oil...
The Senior Special Assistant to the President on Niger Delta Affairs, Sen. Ita Enang, Thursday urged the Nigerian government to capitalise on the decline in the...
The latest audit report by the Nigerian Extractive Industries Transparency Initiative (NEITI) has revealed that the Nigerian government expended the sum of N722.3 billion on subsidising...
The total amount of money spent by the Federal Government, through the Nigerian National Petroleum Corporation (NNPC) on subsidising Premium Motor Spirit in December 2019, stood...
The money spent by the Federal Government in subsidising petrol is anticipated to gulp a whopping N750.81 billion in 2020, the latest data from the Petroleum...
The Minister of State for Peroleum Resources, Timipre Sylva, said on Thursday that the Federal Government had no immediate plans to remove fuel subsidy. The minister...
Minister for Finance, Budget and National Planning, Zainab Ahmed, has revealed that the under-recovery of Premium Motor Spirit, popularly referred to as fuel subsidy, would gulp...
Nigerian Governors have opposed the payment of oil subsidy to marketers by the Nigerian National Petroleum Corporation (NNPC). Chairman of the Nigeria Governors’ Forum (NGF), Kayode...
The Emir of Kano, Muhammad Sanusi II, has warned of a looming bankruptcy consequent on some awful economic decisions made by President Muhammad Buhari. The former...
A senator from Anambra State, Victor Umeh, has said that payment of fuel subsidy and all the problems associated with it will never end in Nigeria....
Again, the federal government has given reasons the advice of the International Monetary Fund (IMF) may not be operable in Nigeria, stating that it is yet...
The federal government has said that contrary to speculations, there is no immediate plan to remove subsidy on premium motor spirit, otherwise known as petrol. This...
