NLC Rejects Proposed N5,000 Stipend To Replace Petrol Subsidy   The Nigeria Labour Congress (NLC) has rejected the proposed N5,000 for 40 million poor Nigerians when the subsidy on Petroleum Motor Spirit (PMS) is removed. NLC President, Ayuba Wabba, said in Abuja last night that there are...

Petrol Subsidy May Rise To N3trn In One Year – NNPC subsidiary     The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has said the annual subsidy on Premium Motor Spirit (petrol) will rise to N3tn if the current market realities persist. The...

NNPC Spends N123.7bn As Petrol Subsidy In September   The Nigerian National Petroleum Corporation (NNPC) has revealed that it spent N123.73 billion on petrol subsidy in September 2021. The Corporation in its report to the Federation Account Allocation Committee (FAAC) for October meeting said the amount with...

FG To End Petrol Subsidy June 2022, W/Bank Condemns N2.9trn Funding   The World Bank has decried the continued spending by the Nigerian government on petrol subsidy, which it said is on track to gobble up N2.9tn this year. Its Country Director for Nigeria, Shubham Chaudhuri, who...

Global Oil Surge Pushes Daily Petrol Subsidy To N8.28bn   The rapid rise in global oil prices to record highs has pushed the subsidy cost being incurred by the Federal Government to N8.28bn daily, an analysis of data collated by our correspondent has shown. The data also...

Petrol subsidy Now N905.27bn, Oil Price Rises To $79.71           The Nigerian National Petroleum Corporation spent a total of N905.27bn on petrol subsidy in eight months amid rising global oil prices, the latest data obtained from the corporation show. With the international oil benchmark, Brent crude, nearing...