Tag: Subsidy
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Is petrol still subsidized? By Henry Boyo
By Henry Boyo Nigeria’s Petroleum marketers threatened, to commence mass retrenchment in their communiqué of 29th August, 2017, unless government settles over $2bn outstanding invoices, and also pays interest charges, on their delayed payments and the related exchange rate differentials, notwithstanding that such payments would compound the integrity of the 2017 N7.4tn budget, which already…
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FG still paying fuel subsidy – NNPC
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru says the Federal Government is paying N26 per liter for fuel subsidy. He made the revelation in Abuja on Sunday, adding that the #fuelscarcity would end in the next two days. This he said was due to measures it has taken including…
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Is petrol still subsidized? By Henry Boyo
By Henry Boyo Petroleum marketers announced, in their communiqué of 29th August, 2017, that they would commence mass retrenchment, unless government pays over $2bn outstanding invoices, and also settles their interest charges, on delayed payment and related exchange rate differentials. Nonetheless, in order to pay, government’s present lean revenue expectations may compel the need, to…
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BREAKING: Court convicts two over fuel subsidy scam
A Lagos High Court has convicted Walter Wagbatsoma, Adaoha Ugo-Nnadi, and their company Ontario Oil and Gas on an eight count amended charge of fuel subsidy fraud. The defendants were found guilty on each of the eight counts. The third defendant, Babafemi Fakuade, was, however, discharged and acquitted. Details later…