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Tag "petrol subsidy"

Lai: Petrol subsidy removal at this time could lead to instability

    Lai: Petrol subsidy removal at this time could lead to instability

Lai Mohammed, minister of information and culture, says it is the wrong time to remove the costly petrol subsidy.  Subsidy or under-recovery is the underpriced sales of premium motor spirit

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EXCLUSIVE: Petrol subsidy payments gulped N1.27trn in five months

    EXCLUSIVE: Petrol subsidy payments gulped N1.27trn in five months

For the fifth time in 2022, the Nigerian National Petroleum Company (NNPC) Limited failed to remit revenue to the federation account as subsidy claims eroded gains. NNPC said this in

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Pipeline vandalism: Buhari asks western allies to designate IPOB as terrorist group

    Pipeline vandalism: Buhari asks western allies to designate IPOB as terrorist group

President Muhammadu Buhari has called on western allies to designate the Indigenous People of Biafra (IPOB) as a terrorist group “over involvement” in pipeline and infrastructure vandalism.  The president said

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IMF: Nigeria may spend 100% of revenue on debt servicing by 2026 

    IMF: Nigeria may spend 100% of revenue on debt servicing by 2026 

The International Monetary Fund (IMF) says Nigeria may spend almost 100 percent of its revenue on debt servicing by 2026. Ari Aisen, IMF’s resident representative for Nigeria, said this on

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Nigeria’s next president deserves pity

  Nigeria’s next president deserves pity

Expectations are high. Rightly so. 2023 has been roundly described as a make-or-mar year for Nigeria. Citizens seek change. Things

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Oil price hits $115 a barrel — highest in seven weeks

  Oil price hits $115 a barrel — highest in seven weeks

Oil prices rose on Tuesday amid an ongoing push by the European Union for the Russian oil imports ban.  Brent

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World Bank to Nigeria: Rethink petrol subsidy, it mostly favours the rich

  World Bank to Nigeria: Rethink petrol subsidy, it mostly favours the rich

World Bank has advised Nigeria to rethink its steps in the provision of N4 trillion for petrol subsidy payments in

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INSIGHT: Nigeria’s N4trn budget for petrol subsidy is more than 2021 CIT, VAT combined

  INSIGHT: Nigeria’s N4trn budget for petrol subsidy is more than 2021 CIT, VAT combined

On Thursday, the national assembly approved the request of President Muhammadu Buhari to earmark N4 trillion for petrol subsidy in

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N’assembly approves Buhari’s N4trn petrol subsidy request

  N’assembly approves Buhari’s N4trn petrol subsidy request

Both chambers of the national assembly have approved the request of President Muhammadu Buhari to earmark N4 trillion for petrol

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Kenya to pay subsidy arrears amid fuel shortages

  Kenya to pay subsidy arrears amid fuel shortages

The Kenyan government says it will pay subsidy arrears to petrol retailers this week to avert fuel shortages. Andrew Kamau,

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