You are here
Home > fuel subsidy

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. …

NNPC spends N774m daily subsidising petrol –Baru

NNPC spends N774m daily subsidising petrol –Baru

Okechukwu Nnodim, Abuja The Nigerian National Petroleum Corporation on Sunday announced that it currently spends N774m daily as subsidy on the 50 million litres of Premium Motor Spirit consumed across the country everyday. Although it described the amount as “under-recovery,” the oil firm stated that the huge fund was due to the proliferation of filling […] …

Top