NNPC Intervenes as Marketers Halted Petrol Import Over Costs In 2017, rising crude oil prices, volatile Premium Motor Spirit (PMS) supply costs, and a government-imposed cap on petrol prices forced Oil Marketing Companies (OMCs) to stop importing petrol. This is according to a recent statement by...

Fed Govt Projects N120trn As Three-year Consumption Expenditure   The Federal Government has projected an average of N120tn as consumption expenditure by Nigerians on which value-added tax will be charged between 2023 and 2025. This is according to the Medium Term Expenditure Framework and Fiscal strategy paper...

FG Blames Vandalism, Theft, Subsidy As Nigeria’s N9trn Oil Revenue Becomes Threatened Nigeria’s oil production slumped by 28 million barrels between January and July 2022, threatening the Federal Government’s N9.37tn oil and gas revenue target by the end of the year. The Federal Government, in the...

FG's Debt Servicing To Hit N10.43trn   The Federal Government has projected that debt servicing will cost N10.43tn by 2025, according to the 2023-2035 Medium Term Expenditure Framework & Fiscal Strategy Paper. This is a 182.66 per cent increase from the N3.69tn budgeted for debt service in...

Fed Govt Pays N405bn Interest On CBN Loans   The Federal Government paid an interest of N405.93bn from January 2022 to April 2022 on the loans it got from the Central Bank of Nigeria through the Ways and Means Advances. This is according to data obtained from...

Oil Sector Contribution to GDP Will Decline by 5% in 2025 - Minister  The Federal Government has made projected that the oil sector’s contribution to Nigeria’s Gross Domestic Product (GDP) will decline to 5% between 2023 and 2025. The expected GDP figure is a drop when...