fuel subsidy

NNPC Ltd has reacted to allegations of Nigeria spending way too much on litres of subsidized fuel, stating that it will offer itself for a forensic audit of fuel supply and subsidy management, insisting that daily fuel supply is 68 million litres. This was disclosed in a statement on Sunday by Malam Garba Muhammad, Group […]

The Major Oil Marketers Association of Nigeria (MOMAN) yesterday said the regulated N165 pump price for Premium Motor Spirit (PMS), also known as petrol, is no longer realistic. Its Chairman, Olumide Adeosun, said it would be difficult to enforce any kind of price control mechanism on marketers who had to slightly adjust their prices based […]

The National Assembly has passed amendments to the 2022 Appropriation Act which raised the subsidy on Premium Motor Spirit (petrol) by N442.72bn, from N3.557tn to N4tn. The Senate and the House of Representatives, respectively, considered and adopted reports on the amendment bills at the plenary on Thursday based on the request by the President, Major […]


Current track