The World Bank has stressed the need for Nigeria to fix issues with fuel prices and improve non-oil revenue. It noted that if these issues are not fixed, Nigeria might lose the benefits of its economic reforms and face increased financial problems.
President Tinubu remains steadfast in his mission to transform the economy, with the aim of delivering the greatest good for Nigerians.
FG plans to educate Nigerians that fuel subsidy is causing so much deficit and FG needs to exit it as soon as possible
Tinubu said it has outlived its shelf life and is used as a tool to subsidise neighbouring countries’ fuel consumption.
Obi says Nigeria is the same population as Pakistan, but they consume below 60% of what Nigeria consumes.
In a game of musical chairs, somebody will eventually lose a seat - Nigerians and Nigeria have lost their seat in this subsidy game.
Nigeria imported 5.61 billion litres of premium motor spirit (petrol) in the second quarter of 2019. According to the NBS [@nigerianstat] report, the volume of petrol imported in Q2 2019 is 5% higher than the 4.87 litres in Q1 2019.
The Nigeria National Petroleum Corporation (@NNPCgroup) is set to collaborate with International oil company, Chevron Nigeria Limited to establish a condensate splinter refinery.
Nigeria has spent over N11 trillion as payment for outstanding subsidy claims over the last six years. This was disclosed on Thursday by the Senate Committee on the downstream Petroleum sector.
Weeks after the International Monetary Fund (@IMFNews) advised the Nigerian Government to remove the subsidy on Premium Motor Spirit, the Chairman, House of Representatives Committee on Petroleum (Downstream), Joseph Akinlaja has thrown his weight behind the decision.
The average pump price of premium motor spirit (Petrol) remain unchanged in March 2019. According to the NBS, the average pump price was ₦145.30 in March
The Federal Government has been urged to remove the fuel subsidy, a move the International Monetary Fund (@IMFNews) said could positively improve Nigeria's slow economic growth.
