Removal Of Subsidy, NNPC Import Monopoly’ll End Queues – Marketers
Queues for Premium Motor Spirit, popularly called petrol, will end when the Federal Government halts PMS import monopoly of the Nigerian National Petroleum Company Limited and stops subsidy on petrol, the President, Petroleum Retail Outlet...
NNPC Shifts Fuel Subsidy Payment Burden To FG
The burden of fuel subsidy payment, a sore issue in the petroleum industry, has been shifted from the Nigerian National Petroleum Company (NNPC) Limited to the Federal Government.
NNPC Limited Group Chief Executive Officer Mele Kyari said it...
FG Spends N1.243trn Monthly As Fuel Subsidy Hits N600/litre
The amount spent as subsidy by the Federal Government on every litre of Premium Motor Spirit, popularly called petrol, consumed in Nigeria is currently above N600, oil sector operators stated on Sunday.
Also, the latest PMS evacuation...
Subsidy Overtakes Nigeria's Health, Education, Welfare Budgets
The World Bank says the cost of fuel subsidy in Nigeria has exceeded the government’s spending on health, education and social protection for Nigerians.
It therefore said that removing fuel subsidy would help the government towards its poverty reduction...
FG Spent N1.5trn On Petrol Imports In Q1, 2022
The National Bureau of Statistics (NBS) has disclosed that Nigeria spent N1.51tn on the imports of premium motor spirit, also known as petrol, in the first quarter of 2022.
This was 25.54 per cent of the total...
IMF Warns Nigeria, Fuel Subsidy May Hit N6trn In 2022
The International Monetary Fund (IMF) has warned that the total expenditure on subsidy might hit a record N6 trillion by the end of the year with Nigeria’s fuel subsidy payout averaging N500 billion per month.
According...
