The Senate has approved U.S.$422 million to clear fuel subsidy arrears to 67 oil marketing companies. The government has struggled for years to make timely subsidy payments to fuel importers. The Senate has said that further payment could kill the economy.
Senate Approves U.S.$422 Million Payment for Fuel Subsidy Backlog
Guardian, 31 May 2019
The Senate yesterday confirmed the payment of N11 trillion as fuel subsidy claims in the last six years. The chairman of its Committee on Petroleum Downstream, Kabir Marafa (APC,… Read more »
Senate Says Economy in Danger
Vanguard, 31 May 2019
The Senate, yesterday, raised the alarm that the nation has spent not less than N11 trillion on oil subsidy payment in six years, warning that further payment could kill the… Read more »
Senate Approves N129bn Subsidy Payment for 67 Oil Marketers
Daily Trust, 31 May 2019
The Senate has approved N129 billion as final subsidy arrears claim to 67 oil marketing companies. Read more »
Nigeria Cuts Fuel Sulphur Cap, but Still Above Target
Nigeria is expected to cut the level of sulphur allowed in imported fuels this year, but the cap is still 10 times above what health campaigners urge, oil trade sources said… Read more »
Minister of Finance Zainab Ahmed has assured that Nigeria's borrowing still remains healthy at 19 percent to the Gross Domestic Product, which is low compared to Ghana, Brazil, ... Read more »
The Senate has begun a fresh investigation into the alleged illegal subsidy payment on petrol by the Nigerian National Petroleum Corporation. The Senate alleges that the state oil ... Read more »
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