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Subsidy

4 Oct 2020
The Domestic Refinery Owners Association of Nigeria (DROAN), have thrown their weight behind the Federal Government’s removal of oil subsidy in the country. The National Chairman of the association, Mr Godwin Sunday, made this known in a press conference organised by the association in Uyo on Saturday. Sunday said that the association was in full…
18 Sep 2020
As I was saying, the decision to end the fuel subsidy regime was momentous. A decision this big would naturally invite what we call matters arising. These are issues thrown up
17 Dec 2019
Though the nation’s subsidy on petrol may be around N417 billion in 2020, according to current data obtained yesterday from the Petroleum Products Pricing Regulatory Agency (PPPRA)
18 Aug 2019
Daily, an estimated seven million litres of Premium Motor Spirit (PMS), better known as petrol, valued at N1, 085t is smuggled from Nigeria to neighbouring West African countries. With daily consumption of about 52 million litres of petrol per day according to the Department of Petroleum Resources (DPR)
1 Nov 2018
The Federal Government has disagreed with Independent Oil Marketers over N1 trillion arrears of subsidy payment claimed by the oil dealers. The government said the unpaid debt was N386 billion. But the Senate, in its resolution, had directed the Ministry of Finance to hold a meeting with the oil marketers and other stakeholders to agree…
16 Oct 2018
The Major Oil Marketers Association of Nigeria (MOMAN) yesterday claimed that its members were owed N130.7 billion in subsidy by the Federal Government as at August 2018. At a media briefing in Lagos, the association’s chairman, Andrew Gbodume, alleged that subsidy payments on imported petroleum products were yet to be made months after the National…
22 Apr 2018
Energy experts, yesterday in Abuja, raised concern over Nigeria’s growing under-recovery of subsidy on Premium Motor Spirit (PMS), which currently stands at N1.4tr, saying it deprives the nation of the gains of increasing oil price. The experts, including the President of Nigerian Association for Energy Economics (NAEE), Prof. Wumi Iledare and Professor of Energy Economics, Adeola Adenikinju,…
10 Apr 2018
Minister of State for Petroleum Resources, Ibe Kachikwu, yesterday said the Nigerian National Petroleum Corporation (NNPC) was in the best position to give appropriate figures on import of Premium Motor Spirit (PMS) otherwise called petrol.    Reacting to report, in which he (Kachikwu) was quoted as saying that the country currently incurs over N1.4 trillion…
5 Dec 2017
Subsidy agreements that will ensure the smooth take-off of the already licensed Infrastructure Companies (InfraCos), MainOne, and IHS are currently being finalised by the Nigerian Communications Commission (NCC).    This was made known by the Director of Spectrum Administration at NCC, Austine Nwaulune, in Lagos, at the West Africa Convergence Conference (WACC 2017), organised by…
17 Jun 2016
Kachikwu explained that the deregulation policy had also re-awakened the downstream sector and would help the nation become a net exporter of petroleum products in a few years.
1 Jun 2016
There have been many comments since Federal Government announced the new petrol price increase. I will restrain myself from calling it deregulation ...
25 May 2016
For the general wellbeing of the economy, price increment is ideal. At this point, mark my words, the most important thing to talk about is the survival of the country.

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