Reps Summon Finance Minister Over Petrol Subsidy   The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy regime from 2013 to 2022 has summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed, to appear before it on Tuesday next week...

Nigeria To Lose N5trn From Petrol Subsidy - World Bank   The World Bank has warned that Nigeria could lose around N5trillion in the year from subsidising petrol. The World Bank, in its Nigeria Development Update (NDU) released yesterday in Abuja, said N5 trillion is urgently needed...

Subsidy Extension Stalls Petroleum Industry Act   Implementation of the Petroleum Industry Act (PIA) is no longer tenable with the continuation of petroleum subsidy payment. President Muhammadu Buhari will propose an 18-month extension to the National Assembly. The PIA, signed on August 16, 2021, was billed to take...

Lawan Says Buhari Didn’t Direct Anyone To Remove Petrol Subsidy   The Senate President, Ahmad Lawan, says President Muhammadu Buhari has not asked any official in his regime to implement the removal of petroleum subsidy. Lawan disclosed this to State House correspondents on Tuesday after a meeting...

Petrol Subsidy Rises, Hits N1.16trn In 11 Months   The amount spent on subsidising Premium Motor Spirit, popularly called petrol, rose to N1.16tn between January and November this year, the latest data from the Nigerian National Petroleum Company Limited show. The data also revealed that NNPC’s remittances...

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...