In this episode, we look into the true impact of Nigeria's subsidy removal. Was it really about saving...
Nigeria National Petroleum Commission (NNPC) owes around $3 billion to oil traders for imported petrol, according to a recent report by Reuters.
The Nigerian Electricity Regulatory Commission (NERC) has stated that the newly approved electricity tariff is anticipated to cut down the subsidy for the fiscal year 2024 by approximately N1.14 trillion.
The price of petrol skyrocketed from N187 to N500 per litre, and then to N617 and many motorists could no longer afford to fill their tanks.
Nigeria's subsidy currently cuts across different sectors, and the question is can Nigeria sustain it simultaneously in the face of an economic downturn?
The IMF team held virtual meetings with the Nigerian authorities to discuss recent economic, financial developments and outlook.
Today, Oil prices are low, thus no need for the Federation to pay a part of your fuel bill, so no subsidy on imported PMS on retail price.
The Presidency yesterday announced a reduction in the price of Premium Motor Spirit (PMS) to N125 from the current price of N145.
The Federal Government subsidy on Premium Motor Spirit, popularly known as petrol, has risen to N47.5 per liter, as the crude oil price increased to $67.86 per barrel yesterday, data from the Petroleum Products Pricing Regulatory Agency disclosed
[@NNPCgroup] dismissed reports that a new Petrol (Premium Motor Spirit) pump price is on the line.
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.
CBN has asked Deposit Money Banks to forgo the interest charged on petrol subsidy-induced loans.
