Nigeria ends oil subsidy to invest savings in infrastructure ...

The new administration maintains that ending the subsidy will aid climate action and fund transportation and energy investments.

Nigeria Ends Oil Subsidy to Invest Savings in Infrastructure ...

The new administration maintains that ending the subsidy will aid climate action and fund transportation and energy investments.

Nigeria ends oil subsidy to invest savings in infrastructure development. ... 'The fuel subsidy is gone,' said Nigeria President Bola Tinubu, in his inaugural ...

Nigeria Ends Oil Subsidy to Invest Savings in Infrastructure ... - Gale

"The subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead rechannel the funds into better ...

Nigeria's Tinubu says scrapping fuel subsidy has saved $1.32 billion

Nigeria has saved over 1 trillion naira ($1.32 billion) in just over two months by scrapping a popular but costly subsidy on petrol and ...

A necessary 'sacrifice': Nigeria ends almost 50 years of fuel subsidies

The Nigerian National Petroleum Corporation (NNPC) spent nearly €10 billion on import subsidies in 2022. The government, which is supposed to ...

Fuel subsidy cut will save Nigeria but impose burden: President

The Nigerian government introduced an oil subsidy to cushion the effect of rising global oil prices in the 1970s. The Olusegun Obasanjo military ...

Nigeria's lesson on scrapping fuel subsidies - IFPRI

In his inauguration speech in May, Nigerian President Bola Tinubu announced the end of the country's decades-old fuel subsidy. This is not the ...

Nigeria's president defends end to fuel subsidy as hardship bites ...

But with oil revenues dwindling amid chronic theft and decreasing foreign investment, the government said the fuel subsidies are no longer ...

Nigeria's fuel subsidy removal was too sudden - The Conversation

Nigeria removed fuel subsidies entirely in May 2023. This came as a surprise because of the political risks associated with subsidy removal.

Nigeria fuel subsidy: Tinubu's plan to scrap measure sparks ... - BBC

President Tinubu wants to ease pressure on government finances, but ending the subsidy will increase the cost of petrol and hit other prices too ...

Analysis: Where Are the Savings From Nigeria's Subsidy Removal?

More so, since the president had informed Nigerians that about N1 trillion was saved from petrol subsidy removal, less than two months after the ...

IMF Executive Board Concludes Post Financing Assessment with ...

President Tinubu has moved ahead with important structural reforms: removing fuel subsidies and unifying the various official foreign exchange ...

10TRN Savings From Subsidy Removal For Infrastructure, Others

Ibraheem Shita and Kemi Fola Adeyemo reviews stories making headline on Nigeria Newspaper with Wale Edun speaking on the 10TRN savings ...

Removing Nigeria's PMS Fuel Subsidies - KPMG International

removal of subsidy on petroleum products by the end of the ... ing infrastructure; and i. Clearing Nigeria National Petroleum Corporation.

Nigeria's President Defends End to Fuel Subsidy as Hardship Bites ...

But with oil revenues dwindling amid chronic theft and decreasing foreign investment, the government said the fuel subsidies are no longer economically ...

Gas prices nearly triple in Nigeria as new leader triggers panic ...

The decision to end the fuel subsidy is part of a broader effort by the government to deregulate the country's vital oil sector and attract ...

Return of Fuel Subsidies in Nigeria: Myth or Fact with Dr. Kaase ...

Earlier this month, at the Nigerian International Energy Summit, Robert Dickerman, the CEO and Managing Director of Pinnacle Oil and Gas ...

Nigeria: Will ending fuel subsidies boost the economy? - DW

The skyrocketing cost of fuel subsidies and the economic losses from falling oil prices recently led Nigeria to fund its budget only through an emergency loan ...

Cost and Benefits of Fuel Subsidy in Nigeria

In 2022 an estimated N2.74 trillion was paid as fuel subsidy, while just over N600 billion was made in oil revenue. Meanwhile, in the 2023 ...