The Federal Government, yesterday, explained why the Nigerian National Petroleum Corporation (NNPC) is shortchanging Nigerians to fund importation of petrol at cost higher than ₦143 per litre. Minister of Finance, Kemi Adeosun, made the explanation after a four and half hours Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari. Adeosun, who briefed […]
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The Federal Government is owing oil marketers N300billion in oil subsidy, Group Chief Executive Officer (GCEO), Forte Oil Nigeria, Akin Akinfemiwa, has said Akinfemiwa spoke before the Hon. Abdullahi Mahmud Gaya-headed House of Representatives Adhoc committee investigating alleged huge debts and criminal,act of sabotage by major oil marketers in connivance with Products Pipeline Marketing Company […]
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Zambia has told the International Monetary Fund (IMF) it will gradually cut subsidies amounting to about $1 billion as part of an economic recovery plan, Finance Minister Felix Mutati said. Africa’s second-biggest copper producer will also boost funds for social welfare, Mutati said during talks with IMF officials at the lender’s annual meetings, a finance […]
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FEDERAL Government on Thursday commenced the payment of subsidy on kerosene to the tune of N1.17 for every litre of the product consumed across the country, latest data from the pricing templates of the Petroleum Products Pricing Regulatory Agency has shown. This is coming as inspection officers from the Department of Petroleum Resources clamped down […]
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The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has urged the Federal Government to abolish the fuel subsidy regime from its expenses because it had become a burden on the nation’s economy. This is contained in a statement by its Head, Public Relations, Mr. Ibrahim Mohammed on Wednesday in Abuja. He said the subsidy had […]
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The ruling All Progressives Congress (APC), has officially given its backing to the removal of fuel subsidy. The party gave its nod to fuel subsidy removal after President Muhammadu Buhari, presented the 2016 budget proposal to a joint session of the National Assembly yesterday. The party’s national Chairman, Chief John Odigie-Oyegun in a statement signed […]
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Asiwaju Bola Ahmed Tinubu, the leader of the All Progressives Congress (APC), has yesterday commended Nigerians for voting Mohammadu Buhari into power and voting out the former President Goodluck Jonathan of the Peoples Democratic Party (PDP). Asiwaju, who stated this in his keynote address at the 10th memorial anniversary of the late Bala Usman, a […]
Read More The Minister of State for Petroleum, Dr. Emmanuel Ibe Kachikwu yesterday said the Federal Government will not scrap the Petroleum Support Fund (also known as subsidy) but will, instead, embark on price modulation. He denied saying the price of petrol will go up in January. Addressing a press conference in Abuja, he said the Nigerian […]
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