Marketers Say Petrol May Hit N800/litre On Subsidy Removal   As the scarcity of the Premium of Motor Spirit, popularly called petrol, continued on Sunday, oil marketers have stated that the cost of the commodity would cross N800/litre once subsidy on PMS is removed. Industry operators had...

Subsidy: Fed Govt Borrowing To Import Fuel - Minister   The Federal Government has said it sometimes borrows funds to buy petrol as the country continues to incur rising fuel subsidy bills. The government also confirmed that there was a possibility of global economic recession this year,...

Nigeria To Earn N6trn Yearly From Fuel Subsidy Removal, Says CPPE     The removal of fuel subsidy would unlock a minimum of N6 trillion in revenue into the federation account annually. This was disclosed by an economic think tank, the Centre for the Promotion of Private Enterprise...

Fuel Subsidy Unsustainable, Rising Public Debt Worrisome – FAAC The Federation Account Allocation Committee Post-Mortem Sub-Committee has said that the rising public debt is worrisome, while describing fuel subsidy as unsustainable. This was according to a communiqué issued at the end of a three-day retreat to...

Fuel Subsidy Must Go in June 2023, FG Insists   The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said the plan to break off from fuel subsidy funding is not negotiable, describing it as a huge burden sustained by borrowing. She reiterated government's...

Finally, FG Admits Spending Hugely On Fuel Subsidy   The Federal Government, on Tuesday, said that it had spent so much in subsidising the Premium Motor Spirit, popularly petrol. It was earlier reported that the administration of President Muhammadu Buhari could spend nothing less than N10.976tn as...