Oil price: FG Revenue Shrinks As Petrol Subsidy Rises …workers, contractors risk delayed pay   Lower amounts of revenue might be available for sharing by the three tiers of government through the Federation Accounts Allocation Committee (FAAC) in the coming months as the cost borne by the...

Petrol Subsidy Now N47.5/litre As Oil Price Hits $67.86   The subsidy on Premium Motor Spirit, popularly known as petrol, has risen to N47.5 per litre as the expected open market price of the commodity hit N180.78 on Monday, latest data from the Petroleum Products Pricing...

Fuel Consumption Now 67.66m litres/day, Subsidy Gulps N10.1bn   The average daily consumption of petrol has hit 67.66 million litres, indicating an increase of 33.89 million litres when compared to daily consumption figures recorded in September 2019. According to the Petroleum Products Pricing Regulatory Agency, latest weekly...

2020: Nigeria To Spend N750.81bn On Fuel Subsidy   The Federal Government is expected to spend N750.81bn on petrol subsidy in 2020, latest data from the Petroleum Products Pricing Regulatory Agency have shown. For more than two years, the Nigerian National Petroleum Corporation has shouldered petrol subsidy’s...

Crude Increases To $64.17, Fuel Subsidy Now N43/litre   The rise in crude oil price has spiked the Expected Open Market Price of Premium Motor Spirit, popularly known as petrol, leading to a sharp increase in the amount spent on subsidy. Data obtained in Abuja on Tuesday...

Nigeria Needs To Reduce Fuel Subsidy Now  - IMF   The International Monetary Fund has said Nigeria needs to reduce fuel subsidy at a time when oil prices are low in order to bring about more productive government spending. The IMF, in its new Regional Economic Outlook...