Fed Govt Planning To Replace Fuel Subsidy With Transport Palliative – Minister   The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has described fuel subsidy as a major waste and a drain on the Nigerian economy,saying the government plans to replace it with...

In One Month, NNPC Spends N492.05bn On Subsidy, Salaries, Other Expenses       Nigeria’s subsidy regime, salary and other operating revenue cost the Nigerian National Petroleum Corporation (NNPC) N492.05 billion in the month of April this year. Recall that the Group Managing Director of the Corporation, Mele Kyari...

N120bn Petrol Subsidy To Double As CBN Adjusts Exchange Rate       As the Central Bank of Nigeria (CBN) signals a subtle harmonisation of exchange rates with the removal of N379/$1 official rate from its website, all is set for labour unions to lock horns with the...

We Are Working With Stakeholders To End Subsidy, Says Kyari  The Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, on Tuesday disclosed that the Federal Government is currently engaging with stakeholders on the process that will lead to the removal of subsidy on...

Petrol Subsidy Rises To N500bn       With the Federal Government leaving the pump price of Premium Motor Spirit (petrol) unchanged in the first five months of this year despite the increase in global oil prices, subsidy on the product is estimated to gulp N500bn in the...

Oil Nears $56, Fed Govt May Reintroduce Fuel Subsidy       The sustained increase in global crude oil prices has pushed up the landing cost of imported petrol closer to the current pump prices of the product in Nigeria, and appears to have triggered a return to...