Report Reveals Nigeria Owes NNPC $4.9bn Fuel Debt The Federal Government owes the Nigerian National Petroleum Company Limited, almost half of what it plans to collect in revenues this year for the petrol subsidy it reintroduced in August last year, Bloomberg reported on Monday. The report...

According to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, Nigeria currently spends $600m on fuel importation monthly. 

Expenditure on Fuel Import Increases by 46% in Q1 2024 Nigeria’s expenditure on fuel soared to N2.6 trillion in the first quarter of 2024, representing a 46% increase from the fourth quarter of 2023. This data comes from the latest foreign trade report by the National...

N2.3trn Required to Sustain Fuel, Electricity Subsidy, IMF Cautions The International Monetary Fund (IMF) has warned that continuation of fuel and electricity subsidy will cost Nigeria N2.33 trillion or three per cent of its Gross Domestic Product, GDP in 2024. The warning was contained in the...

N2.3trn Required to Sustain Fuel, Electricity Subsidy, IMF Cautions The International Monetary Fund (IMF) has warned that continuation of fuel and electricity subsidy will cost Nigeria N2.33 trillion or three per cent of its Gross Domestic Product, GDP in 2024. The warning was contained in the...

Seven Major Marketers Get Approval to Sell Dangote Fuel The seven major oil marketers in Nigeria have registered with the Dangote Petroleum Refinery for the lifting and distribution of refined petroleum products produced by the $20bn plant. Dealers under the aegis of the Major Oil Marketers...