'How FG Save N8trn From Subsidy Removal, FX Reform'   The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said the Federal Government will be saving N8tn annually from the fuel subsidy removal and exchange rate unification policies. Oyedele spoke during a...

Despite Subsidy Removal, Nigeria's PMS Price Remains Cheapest in Africa By Zekeri Idakwo Despite recent hike in fuel price, Nigeria still has the cheapest pump price among neighbouring African countries. According to Global Petrol Prices (GPP), Nigeria is the exception, with prices at nearly half the cost...

Amid Subsidy Removal, Nigeria’s GDP Growth Slows to 2.51% Nigeria’s Gross Domestic Product has slowed to 2.51 per cent (year-on-year) in real terms in the second quarter of 2023. This growth rate is lower than the 3.54 percent recorded in the second quarter of 2022. According...

Tinubu Sets up Presidential Initiative on CNG, Targets 11,500 Gas Vehicles President Bola Ahmed Tinubu has approved the establishment of the Presidential Compressed Natural Gas Initiative (PCNGI)as part of measures to ease the pain of fuel subsidy removal. This initiative according to presidential spokesman, Ajuri Ngelale,...

Subsidy Removal: Nigeria Risks Losing Billions As State Govts Reduce Working Days   Nigeria stands the risk of losing billions of Naira in revenue over some state government’s plan to reduce working days by civil servants. This is coming after two states – Edo and Kwara reduced...

'Subsidy Removal Expected To Generate Fiscal Savings Of N2trn By Year End' The removal of the PMS subsidy is expected to provide fiscal savings of N2 trillion in 2023 and this, together with earnings from improved oil exports and non-oil sources would buoy government’s revenue. According...