Petrol Subsidy Rises, Hits N1.16trn In 11 Months   The amount spent on subsidising Premium Motor Spirit, popularly called petrol, rose to N1.16tn between January and November this year, the latest data from the Nigerian National Petroleum Company Limited show. The data also revealed that NNPC’s remittances...

Petrol Subsidy Now N1trn As NNPC Paid N163bn In October   Subsidy payment being made by the Nigerian National Petroleum Company Limited (NNPC) on Premium Motor Spirit (PMS), otherwise called petrol, hit the N1 trillion mark in October after the national oil firm paid N163 billion...

FG Pays N3.22bn IOC Cash Call, Leaves Outstanding Balance At $1.46bn     The Federal Government has paid a total of $3.22bn as cash call arrears to international oil companies, leaving an outstanding balance of $1.46bn. It disclosed this in a document on Joint Venture repayment agreement status...

NEITI: FG, others Shared N3.95trn In 6months The federal, states and local governments shared N3.95 trillion from the Federation Account within the first half of this year the latest Nigeria Extractive Industries Transparency Initiative (NEITI) Review has shown. The disbursements made by the Federation Accounts Allocation...

 The Federal Government, State Governments and Local Government Councils received a net statutory allocation of N207.878 Billion as Federal Allocation for the month of April, 2016 which was shared among the three tiers of government as follows: Federal Government 52.68%, States 26.72%, Local government...

... States Debt Repayment Deferral-- Not a bail out The Federation Accounts Allocation Committee (FAAC) meeting which took place yesterday, presented the lowest FAAC in over 5 years, with less than N300bn in revenue driven by the impact of the historically low oil prices in January...