Tag
FUEL SUBSIDY
News and analysis about fuel subsidy
The Federal government said fuel subsidy is projected to gulp about N5.4 trillion in 2024 as against the N3.6 trillion budgeted for the intervention in 2023.
The Minister of finance Wale Edun has insisted that fuel subsidy removal is an ongoing process that depends...
The International Monetary Fund (IMF) has stated that Nigeria’s budget deficit would increase beyond the projected figure for 2024 due to implicit fuel and electricity subsidy payments and increased interest costs on debt.
Industry key player and CEO of Rainoil Limited, Gabriel Ogbechie, has claimed that the federal government has resumed the payment of the controversial fuel subsidy following the devaluation of the Naira in the foreign exchange market.
The Nigerian National Petroleum Company (NNPC) Limited has announced that there has been no change in the price of premium motor spirit (PMS), petrol and diesel at its retail stations.
The International Monetary Fund (IMF) has advised the Nigerian government to implement its social protection measures to benefit poor and vulnerable Nigerians.
The International Monetary Fund (IMF) has emphasised the need for the Nigerian government to prioritise the full implementation of its cash transfer program to aid vulnerable households.
The International Monetary Fund (IMF) has urged the federal government to fully eliminate subsidies for fuel and electricity, highlighting that these financial supports are not only expensive but also ineffective in benefiting the populations most in need of assistance.
Femi Gbajabiamila has guaranteed Nigerians that they will soon start reaping the benefits of the removal of fuel subsidies.
The Manufacturers Association of Nigeria (MAN) has said that the forex crisis and high inflation in the country will limit its performance in Nigeria till mid-2024.
With the NNPC Ltd confirming it's the only importer of PMS into Nigeria and the retail local price of PMS locked in place even as the price of Brent Crude rises, it's now clear the PMS subsidy is back
The International Monetary Fund (IMF) has again declared their support for the fuel subsidy removal and exchange rate unification, insisting that it will enhance the economic outlook of the country.