Dangote Petroleum Refinery plans to start petrol supply by mid-September, undergoing test runs for production. Initial delays pushed back the timeline from June to August, but recent reports suggest the refinery remains on schedule. No petrol price has been fixed yet as operations commence.
The...
The Nigerian National Petroleum Company (NNPC) claims to sell petrol at half its landing cost, labeling the price difference as a “shortfall” rather than a subsidy. Critics argue this practice effectively constitutes a subsidy, raising concerns over transparency and economic impacts amid rising...
Atiku Abubakar urges President Tinubu to clarify the federal government's petrol subsidy policy and crude oil refining amid ongoing confusion. He criticizes the potential continuation of the subsidy despite previous claims of its removal, emphasizing the need for transparency to address...
The Nigerian National Petroleum Company (NNPC) Limited confirmed that the federal government owes it N7.8 trillion in petrol subsidy debts, reversing its earlier denial of subsidy payments. The announcement has sparked outrage among Nigerians, who accuse the government of deception and demand...
PDP Presidential candidate Atiku Abubakar criticizes the Tinubu administration's projected N5.4 trillion petrol subsidy spending in 2024, contradicting claims of subsidy abolition. Nigerians express discontent with the government's economic policies and call for transparency.
PDP Presidential...
Former Vice President Atiku Abubakar has condemned the recent tariff increases implemented by the Nigerian government, alleging that they unfairly burden Nigerian citizens and subsidize government inefficiencies.
In a statement issued in Abuja, Atiku criticized the government's failure to...
The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N640 per litre to N630 per litre.
This decision aims to alleviate the financial burden on consumers amidst concerns over escalating...
President Bola Tinubu encountered resistance from subsidy beneficiaries and smugglers as he strives to reshape Nigeria's economy.
Speaking at a meeting with APC state chairmen, Tinubu emphasized the government's determination to overcome destabilizing forces hindering economic progress...
The Managing Director and CEO of Pinnacle Oil and Gas Limited, Mr. Robert Dickerman, has disclosed that despite the supposed deregulation of the petroleum sector, Nigeria continues to pay a substantial monthly subsidy of about N1 trillion for petrol.
Speaking at the Nigeria International...
In a surprising turn of events, Nigeria's petrol subsidy has made a comeback, reaching an alarming N907.5 billion per month, surpassing the pre-Tinubu era.
BusinessDay's analysis attributes this surge to the country's foreign exchange crisis, pushing the actual cost of a litre of fuel to...
In a surprising turn of events, the International Monetary Fund (IMF) has confirmed that the Nigerian government, under President Bola Tinubu's administration, has quietly resumed the payment of subsidies on petrol, also known as premium motor spirit (PMS). This revelation comes just months...
Nigerian President Bola Tinubu defended the removal of the petrol subsidy, stating that it was a necessary move to prevent the country from collapsing. He acknowledged the hardship it caused due to a subsequent increase in petrol prices, but emphasized that it was essential for the nation's...
Oil marketers are reiterating their call for a potential increase in the price of Premium Motor Spirit (PMS), commonly known as petrol, due to the ongoing depreciation of the Nigerian naira against the US dollar.
The black market exchange rate for the naira reached 920/dollar, prompting...
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