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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