Tag "Subsidy"

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Revisiting The N5,000 Allowance In Lieu Of Subsidy

With plans by the Federal Government to jettison the subsidy regime in the petroleum sector in 2022, there has been so much concern across the country to the effect that it would adversely affect the poor and vulnerable the most.       

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Dollar Shortage, Subsidy, Deficit Financing Threaten Nigeria’s Growth – W/Bank

BY CYRIL OGAR World Bank has said that economic growth in Nigeria is being threatened by certain macroeconomic challenges, including dollar shortage, petrol subsidy and the fiscal deficit financing by the Central Bank of Nigeria. The bank disclosed this in

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Sanusi Describes PMS Subsidy As Scam, Regrets 2012 Protest Against Removal

wisdom onyeisi Former Emir of Kano Sanusi Lamido Sanusi, has described Nigeria’s petrol subsidy regime as a scam, expressing regrets over the nationwide protest that halted former President Jonathan’s planned removal of the subsidy in 2012. Sanusi, who was the

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Subsidy, Debt Servicing Dominate N11.907trn 2022 Budget

Charles Ebi             The Federal Government, FG, is projecting N900bn for fuel subsidy in an estimated N11.907trn budget for 2022. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said at a public presentation of the 2022-2024 Medium

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Electricity Subsidy Gulps N30bn Monthly

Charles Ebi The amount spent on subsidising electricity every month in Nigeria is now about N30bn, the Federal Government has said. It disclosed that the government’s subsidy on electricity had been reduced by N20bn monthly following improvements in the collection

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Petrol Subsidy To Gulp N720bn In Six Months

Cyril Ogar With the 2021 budget failing to make provision for petrol subsidy payment and the continuous push for reintroduction of fuel subsidy by the labour unions, the Federal Government stands to lose about N103billion monthly AljazirahNigeria investigation have revealed.

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Electricity Subsidy To Hit N3trn By 2023 – World Bank

cyril ogar The World Bank has said that the inability Nigeria’s Electricity Supply Industry (NESI), to allow cost-reflective model, the tariff shortfall may rise to N3 trillion by 2023. Muhammad Abba Wakil, Senior Energy Specialist, with the bank in his

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How NNPC Paid Self N3trn On Petrol Subsidy In 3-Years

Pushes CNG as alternative transport fuel, reduces reliance on petrol Cyril Ogar  The Group Managing Director of the Nigerian National Petroleum Commission, NNPC, Mallam Mele Kyari, has said the Nigerian National Petroleum Corporation, NNPC, paid itself a whopping sum of

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Petrol subsidy Gulped N650.2bn In 12 Months – Report

The Federal Government spent a total of N650.2bn on petrol subsidy in 12 months; Cyril Ogar in this report captures the misgivings of stakeholders on the issue: The Federal Government spent a total N650.2bn in subsidising Premium Motor Spirit; latest

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FG: Petrol Subsidy Gulps N190bn In One Year

Nigeria’s expenditures on the subsidy of petrol have continued in its rise, hence the most populous African country recorded a monthly average of N15.859 billion as under-recovery on the importation of petrol or Premium Motor Spirit (PMS) into the country. Though the

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