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...

FG Budgets N3.36trn For Controversial Fuel Subsidy In H1, 2023   The Federal Government has disclosed that N3.36trillion has been earmarked for fuel subsidy in the first half of 2023. This was made known by Zainab Ahmed, the Minister of Finance and Budget Planning, on Wednesday in...

N3.92trn Fuel Subsidy Higher Than Health, Education, Defence Budgets   The N3.92tn spent as subsidy on Premium Motor Spirit, popularly called petrol, from January 2020 to June 2022 is higher than the cumulative individual federal budgets for health, education and defence during the 30-month period. Findings show...

FG Borrowed N1trn To Fund Fuel Subsidy - DMO   The Federal Government has borrowed N1 trillion to subsidise petrol this year, the Debt Management Office (DMO) said yesterday. Its Director-General, Ms. Patience Oniha, spoke during the presentation at the Executive Course on Budgeting and Fiscal Transparency...

Customs DG Faults N6trn Fuel Subsidy Comptroller General of Nigerian Customs Service (NCS), Hameed Alli, on Thursday faulted the over N6 trillion allegedly being paid as fuel subsidy on Premium Motor Spirit (PMS) in 2022 fiscal year by Nigerian National Petroleum Corporation (NNPC) Limited. The NCS...