Petroleum marketers are going to forfeit N16.5 billion in possible subsidy claims due to oil price increases at the international market over hoarding of product, which they preferred to call inventory stock.
But the losses are more than made up for the high inventory level...
-As oil & gas shares gain 3.7% on stock market
After two months of stability, the naira, Thursday, depreciated by N14 in the parallel market, in response to demand pressure occasioned by the deregulation of petroleum sector announced by the Federal Government, Wednesday.
Meanwhile, shares of...
-NLC: We’re yet to respond to FG’s overtures on deregulation, pump price hike
The Petroleum Products Pricing Regulatory Agency (PPPRA) last night announced a new pump price for petrol, saying that in a new pricing template which it reviewed, filling stations in the country are...
The Federal Government has said it would pay subsidy on petrol from the recoveries made in the first quarter of this year.
This is contained in the latest Petroleum Product Pricing Regulatory Agency (PPPRA) template released in Abuja.
It said between January and March, the Federal...
There are strong indications that the Federal Government would start paying N163m daily as fuel subsidy to oil marketers because of the slight increase in crude prices. A survey of markets around the world showed that oil prices, including Nigeria’s Bonny Light 1have increased...
Contrary to reports by a Section of the Nigerian Media, the Federal Government has not reversed its decision to remove subsidy on Premium Motor Spirit (PMS), moreso when there is no appropriation for subsidy in the 2016 budget.
The PPPRA wishes to state categorically that...
