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Oil workers wade into FG/marketers’ N800bn subsidy rift

Oil workers wade into FG/marketers’ N800bn subsidy rift

The oil workers, who spoke with journalists after meeting with officials of the NNPC, assured Nigerians of their support to ensure petrol scarcity is averted. Uche Usim, Abuja Two oil workers’ unions, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) have […]
The post Oil workers wade into FG/marketers’ N800bn subsidy rift appeared first on The Sun Nigeria. …

Nigeria’s Senate deepens fuel subsidy probe

Nigeria’s Senate said Tuesday it was investigating claims that the state oil company illegally took more than $1 billion from natural gas proceeds to fund fuel subsidy payments. Despite being Africa’s largest crude producer, Nigeria relies on fuel imports to meet domestic demand because of its dilapidated refineries. The imported petrol is subsidised by the […] …

Fuel subsidy hits N2.4bn daily

Fuel subsidy hits N2.4bn daily

Nigeria may be losing the gains of increases in the international oil prices as the Federal Government subsidy on fuel has risen to N2.4 billion daily in May, from N774 million in March, 2018, also as a result of the high price of crude oil in the international market.
The post Fuel subsidy hits N2.4bn daily appeared first on Vanguard News. …

Senate indicts NNPC for illegal fuel subsidy, orders N216bn refund

Senate indicts NNPC for illegal fuel subsidy, orders N216bn refund

Leke Baiyewu, Abuja The Senate has declared the current payments by the Nigerian National Petroleum Corporation for subsidy of premium motor spirit (petrol) illegal. It asked the corporation to refund the sum of N216bn spent for the purpose in 2017 under the guise of “operational costs” into the Federal Government’s coffers. The legislature also asked […] …

Return of fuel subsidy

Return of fuel subsidy

One of the reasons that President Muhammadu Buhari gave for making himself the Minister of Petroleum Resources was that he wanted to sanitise the oil industry, especially the NNPC.
The post Return of fuel subsidy appeared first on Vanguard News. …

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