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...

In 3 Years, NNPC Paid Itself N1.53trn As Subsidy On Petrol       The Nigerian National Petroleum Corporation, NNPC, paid itself N1.53 trillion as subsidy on Premium Motor Spirit, PMS, also known as petrol, in three years and six months, from January 2017 to June 2020, according...

FG To Nigerians: We’ll Fail If Fuel Subsidy Returns     The federal government says bringing back fuel subsidy that has already been removed may spell doom for the country, adding that Nigeria’s revenue has drastically fallen by not less than 65 per cent. Mrs Zainab Ahmed, the...

N10trn Spent On Fuel Subsidy In Last 15 Years – Marketers   The Federal Government has spent about N10n subsidising petroleum products in the last 15 years, the Major Oil Marketers Association of Nigeria has said. MOMAN and other stakeholders, including the Depot and Petroleum Products Marketers...

Nigeria Spent N752bn On Subsidy In 2019   The federal government paid N752 billion as petrol subsidy in 2019, a report by the Nigerian National Petroleum Corporation (NNPC) has disclosed. According to a recent report on NNPC’s operations and financial activities for the period of January 2020,...