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FUEL SUBSIDY REMAINS FOR NOW, ACCORDING TO SYLVA

The signing of the Petroleum Industry Bill (PIB) into law by President Muhammadu Buhari does not translate into automatic removal of the Premium Motor Spirit (PMS) subsidy, Minister of State for Petroleum Resources Timipre Sylva has assured. Sylva, through his Special Adviser on Media, Malam Garba Muhammad said: “We’ll engage you (reporters) on this at… Continue reading FUEL SUBSIDY REMAINS FOR NOW, ACCORDING TO SYLVA

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FUEL SUBSIDY GULPS N274.03BN AS CRUDE OIL PRICE HITS $72.01 PER BARREL

The Nigerian National Petroleum Corporation has incurred the sum of N274.03bn as subsidy payment for Premium Motor Spirit popularly known as petrol between January and May this year. The figure is contained in the NNPC Report for June which the Corporation submitted to the Federation Account Allocation Committee. The Report was obtained by DCO Global… Continue reading FUEL SUBSIDY GULPS N274.03BN AS CRUDE OIL PRICE HITS $72.01 PER BARREL