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Fuel subsidy News - Page 6

FG's Deficit Continues To Widen As DMO Oversells October Bond Auction

House Of Reps Reveal Probe Demands, As Lawmakers Summon Finance Minister Over Subsidy Payments

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has been summoned by the House of Representatives, as the lawmakers begin to probe the subsidy regime. Ahmed was directed to appear before the Ad Hoc Committee investigating the fuel subsidy regime,

August 10, 2022

Business

Nigerian Think-Tank, NESG, Calls For Subsidy Removal, Change In FX Multiple Rates

The Federal Government has been urged to remove subsidy in fuel price, as the Nigerian Economic Summit Group (NESG) highlighted some challenges of the Nigerian economy in a new report. NESG, which is a private sector-led think-tank and policy advocacy group based

August 8, 2022

Business·Finance & Economy

Pres. Buhari To Spend N6.7 trillion On Fuel Subsidy In 12 months

Petrol subsidy will consume N6.7 trillion in 2023, the Minister of Finance, Budget and National Planning, Zainab Ahmed, has revealed, as suspension of removal remains in place. Ahmed said the payment of petrol subsidy is determined by two factors; business-as-usual or reform,

July 21, 2022

Business·Oil & Gas

NNPC’s Kyari, CBN’s Emefiele Accused Of Frustrating Fuel Subsidy Investigation

The House of Representatives Speaker, Femi Gbajabiamila, criticised Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, and three others for failing to appear before the lawmakers. Nigeria’s green chamber had summoned Kyari, Minister of State for Petroleum, Timipre

July 6, 2022

Business·Oil & Gas

Lai Mohammed Reveals Why Buhari Can No Longer Remove Fuel Subsidy

The Nigerian government has revealed why the removal of petrol is impossible at this period, while also disclosing the routes oil thieves are using to steal millions of barrels produced by the country. According to the Minister of Information and Culture, Lai

July 5, 2022

Opinion

Nigeria’s Diesel Economy – EDITORIAL

Diesel – the lifeblood of Nigeria’s productive sector – still remains beyond reach, not only of the ‘common man’ but also of major industrial players. With the umpteenth hike in pump prices, many businesses, especially small and medium-scale enterprises now grapple with

July 4, 2022

Business·News·Oil & Gas·Top Stories

NNPC Accused Of Diverting N4.2 trillion, Inflating Fuel Consumption Figure By 50 million Litres

The Nigerian National Petroleum Corporation (NNPC) has been accused by the House of Representatives member, Sergius Ose-Ogun, of using the subsidy regime to divert about $10 billion. $10 billion, going by the official exchange rate as of June 30, 2022, would equal

June 30, 2022

Business·Oil & Gas

Pres. Buhari Told To Remove Fuel Subsidy After Rejecting IMF, World Bank Advice

Nigeria’s Extractive Industries and Transparency Initiative (NEITI) has expressed its disagreement with President Muhammadu Buhari’s statement over the removal of fuel subsidy, which has suspended for 18 months in January. On Tuesday, President Buhari had said he rejected suggestions to remove the

June 22, 2022

Business·Oil & Gas

Diesel Price To Rise From N800 To N1,500 In Two Weeks

The Natural Oil and Gas Suppliers Association (NOGASA), Bennett Korie, said in the next two weeks, the price of diesel per litre will rise to N1,500 from N800, due to importers inability to access foreign exchange (forex) at Central Bank of Nigeria

June 15, 2022

Business·Oil & Gas

Russia-Ukraine War: Buhari’s Gov’t Spends N947.51 billion On Fuel Subsidy In 4 Months

Nigeria spent N947.51 billion on petrol subsidy within the first four months of this year, as rising crude oil price eats into the revenue generation of the country, surging by 55.7%, to rise from $78.98 to $122.99 between January to April, amid

June 9, 2022

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Fuel subsidy News - Page 6

House Of Reps Reveal Probe Demands, As Lawmakers Summon Finance Minister Over Subsidy Payments

Nigerian Think-Tank, NESG, Calls For Subsidy Removal, Change In FX Multiple Rates

Pres. Buhari To Spend N6.7 trillion On Fuel Subsidy In 12 months

NNPC’s Kyari, CBN’s Emefiele Accused Of Frustrating Fuel Subsidy Investigation

Lai Mohammed Reveals Why Buhari Can No Longer Remove Fuel Subsidy

Nigeria’s Diesel Economy – EDITORIAL

NNPC Accused Of Diverting N4.2 trillion, Inflating Fuel Consumption Figure By 50 million Litres

Pres. Buhari Told To Remove Fuel Subsidy After Rejecting IMF, World Bank Advice

Diesel Price To Rise From N800 To N1,500 In Two Weeks

Russia-Ukraine War: Buhari’s Gov’t Spends N947.51 billion On Fuel Subsidy In 4 Months

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