IMF Calls On FG To Remove Fuel Subsidy The Managing Director, International Monetary Fund, Christine Lagarde, has called on the Federal Government to remove fuel subsidy, saying it is the right thing to do. Addressing a press conference on Thursday at the on-going joint annual spring...

We Received N5.1tn As Subsidy Payment In Nine Years –NNPC The Nigerian National Petroleum Corporation has said it received a total of N5.1tn as payments for subsidy on the Premium Motor Spirit (petrol) between 2006 and 2015. The corporation, which said the payments were approved by...

Nigeria spent an estimated $35bn as subsidy on petroleum products out of the $300bn earned from crude oil from 2010 and 2014, a former Acting Group Executive Director of the Nigerian National Petroleum Corporation, Dr. Tim Okon, has said. This is coming as experts have...

As the scarcity of aviation fuel persists, domestic airlines in the country have said that they may be forced to scale down their operations if nothing is done to ameliorate the situation. Many airline operators told our correspondent on Wednesday that aviation fuel, also known...

The 36 state governors have decided to turn to the World Bank as one of the ways of surviving the current economic downturn in the country, which has made it difficult for many of them to pay workers’ salaries. They are putting machinery in place...

Federal Government of Nigeria has finally removed subsidy from sale of Premium Motor Spirit, PMS, also known as petrol with immediate effect. An official of Nigeria National Petrolem Corporation (NNPC) told Economic Confidential that there was no provision in the approved budget 2016 for...