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...
NNPC Struggles To Remit N349.2bn Of Projected N1.465trn To FAAC
Out of a possible N1.46 trillion the Nigerian National Petroleum Corporation (NNPC) budgeted as revenue payment to the nation in the first seven months of 2021, the corporation has only been able to remit N349.254...
Daily Fuel Consumption Rises To 72m Litres As Subsidy Hits N541.66bn
Petrol consumption in the country jumped from 55.59 million litres a day in April to 72.07 million litres per day in the month of May.
This shows that in the month of May, petrol consumption...
In Seven Months, NNPC Incurs N756.99bn Petrol Subsidy
The Nigerian National Petroleum Corporation incurred N756.99bn petrol subsidy cost from January to July this year, the latest data obtained from the corporation show.
The subsidy, which the NNPC prefers to call ‘value shortfall’ or ‘under-recovery’, resurfaced in...
Fuel Subsidy Still Remains For Now, Says Sylva
The signing of the Petroleum Industry Bill (PIB) into law by President Muhammadu Buhari does not translate into automatic removal of the Premium Motor Spirit (PMS) subsidy, Minister of State for Petroleum Resources Timipre Sylva has assured.
Sylva,...
Petrol Landing Cost Hits N249/litre
The landing cost of Premium Motor Spirit (petrol) imported into the country has increased to a new high of N249.42 per litre on the back of high global crude oil prices.
The further rise in the landing cost of petrol means...
