fuel subsidy

The administration of the President, Major General Muhammadu Buhari (retd.), could spend not less than N10.976tn as subsidy on Premium Motor Spirit, popularly called petrol, from when it came to power in 2015 till May 2023. Already the…

Nigerian presidential candidate Bola Tinubu said he’ll phase out costly fuel subsidies and more than triple oil production to help accelerate growth in Africa’s biggest economy if he wins elections in February. Tinubu will work with the…

The Nigerian Labour Congress (NLC) has reiterated its position on the removal of petrol subsidies, saying that it has not changed. The NLC in a statement on Saturday in Abuja, was responding to a comment by Minister of State for Labour…

Without federal government’s subsidy on premium motor spirit (PMS), the pump price of the fuel who have been costing consumers N462 per litre, the Nigerian National Petroleum Company Limited (NNPCL) has said. In a statement issued on…

The House of Representatives ad hoc fuel consumption committee has begun assessing the volume of petroleum products consumed in the country daily. Its chairman, Uzoma Abonta, led other committee members on an oversight visit to tank…

The Minister of Finance, Zainab Ahmed, has disclosed that President Muhammadu Buhari has set June 2023 as the date for the removal of fuel subsidy. Ms Ahmed disclosed this while appearing Thursday before the House of Representatives ad…

Oando Plc, AA Rano, Sahara Energy Resources and Hyde have all denied involvement in fuel subsidy payments before the House of Representatives ad hoc committee investigating the subsidy regime. The oil companies said they only lifted…

Despite repeated denial by the federal government, many marketers have adjusted pump price of petrol to N185 per litre, a survey by Peoples Gazette in Abuja and Lagos on Wednesday shows. This is as the Major Oil Marketers Association of…

Labour Party presidential flag bearer Peter Obi is ambivalent about the removal of fuel subsidy if elected president in 2023. “Yes and no,” Mr Obi declared during an interview on ARISE TV. He added, “I’ll remove it. But I’ll have to…

The House of Representatives has alleged that more than $10 billion worth of the nation’s crude has been stolen via fraudulent fuel subsidy claims by the Nigerian National Petroleum Corporation (NNPC) and other industry stakeholders. The…