PPPRA’s Petrol Landing Cost Drops on Declining Oil Prices The sharp drop in the price of crude oil appear to have temporarily halted the federal government’s expenditure on petrol subsidy, records from the Petroleum Products Pricing Regulatory Agency (PPPRA) have suggested. Following the slump in crude...

Coronavirus: Fed Govt To Review Budget As Oil Price Plunges   The Federal Government has announced plans to review the 2020 budget as crude oil revenue comes under pressure from the effects of the raging coronavirus infection globally. The Minister of Finance/Budget Planning, Mrs Zainab Ahmed, said...

Budget Under Threat As Oil Declines To $54   The international oil benchmark, Brent crude, plummeted to its lowest level in more than a year on Monday, trading below the Federal Government’s benchmark for the 2020 budget, as the coronavirus outbreak hit fuel demand in China. The...

Oil Price Now $65 As Libyan Oilfields Shut Down Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to...

Petrol Subsidy Averages N45.87/litre As Oil Prices Drop   The Federal Government currently incurs an average of N45.87 as subsidy on every litre of petrol consumed in Nigeria, as industry data obtained on Wednesday showed decline in global crude oil prices. According to figures from the Petroleum...

OPEC To Preserve Quota As Oil Prices Return To $65 Per Barrel   The Organisation of the Petroleum Exporting Countries (OPEC), trimmed its crude oil production by 100,000 barrels daily (b/d) in December, the latest S&P Global Platts survey finds, putting the bloc under its new,...