In One Month, Transportation Cost Increased By 98% – NBS   The average cost of bus transportation within Nigerian cities rose from N649.59 in May 2023 to N1,285.41 in June 2023 as the pump price of Premium Motor Spirit rose, according to the National Bureau of...

Petrol Price Rises By 20% Globally   Price of petrol may to rise further as international market data revealed that the commodity has gained 20 per cent. At the beginning of 2023, Brent crude traded around $78 per barrel. However, last week, the international benchmark hit $83...

Petrol: FX Scarcity Stalls Fresh Importation   The hope of fresh petrol importation into the country may have been dashed, as findings revealed that oil marketers, who have been licensed to import fuel, are currently having difficulties accessing forex (FX). Sources close to the matter said that...

We Will Reconcile N2.1trn Subsidy Deduction With FAAC - NNPC The Nigerian National Petroleum Company (NNPC) Limited says it would reconcile subsidy deductions with the federation. The Federation Account Allocation Committee (FAAC) had in May asked NNPCL to refund over N2.1 trillion to the federation account. NNPCL...

Subsidy Removal: FG Saves N400bn in One Month The Federal Government has so far saved about N400bn as a result of the removal of subsidy on Premium Motor Spirit, popularly called petrol, since May 31, 2023, when the initiative was officially implemented, oil marketers stated...

More Pains For Nigerians As Petrol Sells Above N550/Litre   The pangs of the fuel subsidy removal continue to hit hard on Nigerians as the price of fuel per litre now jumps above N550. It was reliably gathered that there was a rise in the ex-depot price...