Petrol Subsidy Now N1trn As NNPC Paid N163bn In October   Subsidy payment being made by the Nigerian National Petroleum Company Limited (NNPC) on Premium Motor Spirit (PMS), otherwise called petrol, hit the N1 trillion mark in October after the national oil firm paid N163 billion...

NNPC To Halt Rising Cooking Gas Price, Increases Supply   The Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, on Monday announced that NNPC was currently increasing the supply of Liquefied Petroleum Gas, popularly called cooking gas, in a bid to force...

NNPC Expends N83.33bn On Dormant Refineries In 10 Months     The Nigerian National Petroleum Company (NNPC) Limited, spent N83.33 billion on the country’s non-functional petroleum refineries in the first 10 months of 2021, according to latest data from the national oil company. Documents from the NNPC on...

Federation Account Remittances Slide By N1.58rn In 10 Months   Remittances by the Nigerian National Petroleum Company Limited to the federation account have plunged by N1.58tn in 10 months, with experts calling on state governments to improve on its Internally Generated Revenue to augment the allocations,...

Nigeria’s Petrol Imports Rise By 55%, Hit N2.52trn In Nine Months     The cost of Premium Motor Spirit, also known as petrol, imported into Nigeria from January to September this year surged by 55.56 per cent to N2.52tn from the N1.62tn spent in the same period...

Fuel Subsidy Hits N1.03trn, NNPC To Deduct N199bn From Federation Account     Amid plans by the Federal Government to remove subsidy on petroleum products next February, a government report shows the subvention has gulped N1.03tn in the first 10 months of this year. The document also...