In 2 months, Fuel Subsidy Hits N206.6bn   Within a space of two months, the amount that was spent by the Nigerian National Petroleum Corporation in subsidising Premium Motor Spirit, popularly known as petrol, rose by over 1,174 per cent; latest figures obtained from the...

On Fuel subsidy, Senate Summons NNPC Over 43 Modular Refineries   The Senate on Tuesday lamented the multi-billion dollar being paid by the Federal Government to subsidise refined petroleum products for Nigerians. The upper chamber has, therefore, mandated its petroleum committee to invite the Ministry of Petroleum...

Experts Urge New NNPC Boss To Deal With Subsidy, Ailing Refineries   The contentious fuel subsidy, ailing refineries, pipeline vandalism, and crude oil theft, among others, have been tabled by industry stakeholders as some of the elements threatening the nation’s economy. Industry experts raised these as top...

Sanusi: Nigeria On Verge Of Bankruptcy Due To Fuel Subsidy, Debt Servicing   The Emir of Kano, Mallam Muhammad Sanusi II, has warned that Nigeria is on the verge of bankruptcy as fuel and electricity subsidies, as well as debt servicing, continue to eat into government...

Lawmakers Back IMF, Say Fuel Subsidy Outdated The Chairman, House of Representatives Committee on Petroleum (Downstream), Mr Joseph Akinlaja, has expressed his support for the removal of subsidy on Premium Motor Spirit, also known as petrol, as recommended by the International Monetary Fund. Akinlaja, in a...

MAN Seeks Dialogue Over Fuel Subsidy   The Manufacturers Association of Nigeria (MAN) has called for a dialogue between the federal government and other relevant stakeholders on how to resolve the lingering problem of petroleum subsidy. MAN stressed that if no efforts were made to carry Nigerians...