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...
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...
