Nigeria fuel subsidy
Fuel Marketers Approve Refinery Divestment, Project Price Relief
Oil marketers and industry stakeholders have expressed strong support for the proposed sale or privatisation of Nigeria’s long-dormant refineries under the management of the Nigerian National Petroleum Company Limited (NNPC Ltd), citing the potential for increased market competition, operational efficiency, and ultimately lower fuel prices for consumers. Their reactions follow the candid remarks by NNPC’s […]
Petrol Subsidy Removal Yields $84 Billion Gain, Funds 40 New Roads — Report
The Federal Government of Nigeria has officially confirmed that the controversial removal of the petrol subsidy, initiated by President Bola Tinubu since May 2023, has resulted in a monumental financial turnaround. According to a recent policy explainer published by the National Orientation Agency (NOA), the abolition of the subsidy has saved Nigeria over $84 billion […]