The Minister of Finance and Coordinating Minister of Economy, Mr. Wale Edun, announced that the full implementation of market-based pricing for Premium Motor Spirit and exchange rates had saved the federal government approximately $20 billion, or 5% of the country’s…
…Says advisories, policy recommendations responsible for economic woes The Nigeria Labour Congress (NLC) has blamed the International Monetary Fund (IMF) and the World Bank alleging its influence on the Federal Government’s removal of petrol subsidy The NLC in a statement…
..Illegal refineries supplied total diesel consumed in the country …Direct purchase from Dangote refinery, importation will crash petrol price — Marketers By Seun Ibiyemi The Group Chief Executive Officer of the Nigerian National Petroleum Corporation (NNPC) Limited, Mele…
The Minister of Information and National Orientation, Mohammed Idris, says subsidy removal on petrol provided opportunity for states and local governments to make available more goods and services to citizenry. Idris said this in Abuja on Wednesday at the National…
Nigeria has recorded a reduction in petrol importation following the ‘removal of fuel subsidy’ by President Bola Tinubu in May 2023. According to the latest petroleum products distribution statistics report of the National Bureau of Statistics (NBS), petrol imports dropped…
The Central Bank of nigeria reserves are at risk due to the petrol subsidy removal and lower crude oil earnings. As of September 12, Nigeria’s external reserves stood at $36.08 billion, according to data from the CBN. In its ‘Monetary,…
The Federal Government on Monday in Ibadan donated 20 Compressed Natural Gas (CNG) buses to Oyo State Government. The Chairman of the Pacesetter Transport Service (PTS), Mr Ibrahim Salami, received the buses on behalf of the state government. The gesture…
…Urges FG to approve Shell/Renaissance, Mobil/Seplat deal Former Vice President of Nigeria, Atiku Abubakar has accused the President Bola Ahmed Tinubu-led administration of adopting a sham subsidy regime to fund his 2027 Presidential ambition. In a statement on Sunday, the…
Defending the recent hike in electricity tariffs, which has attracted wild reactions and resistance from Nigerians, Minister of Power, Mr. Adebayo Adelabu, on Tuesday, said that the introduction of higher tariffs for Band A users has reduced the electricity subsidy…
By Opeyemi Abdulsalam The Nigerian National Petroleum Company Limited (NNPC Ltd.) has denied allegations of inflating subsidy claims by N3.3 trillion, describing the report as “ridiculous” and “products of febrile imagination.” In a statement signed by Chief Corporate Communications Officer,…
