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Finance Ministry denies knowledge of NNPC’s $3.5bn subsidy fund

‘FG spent N11tr for subsidy claims in six years‘

Chairman of the Senate Committee on Petroleum (Downstream), Kabir Marafa, said on Thursday the Federal Government spent over N11 trillion as payment for outstanding...

FG mulls increase in VAT, excise duties

Finance Minister: There is no imminent plan to remove subsidy 

Nigeria’s Minister of Finance, Zainab Ahmed, on Sunday said the Federal Government had “no imminent plan to remove subsidy”.  The Managing Director, International...

Finance Ministry denies knowledge of NNPC’s $3.5bn subsidy fund

Finance Ministry denies knowledge of NNPC’s $3.5bn subsidy fund

The Permanent Secretary, Federal Ministry of Finance, Mahmoud Isa-Dutse, on Thursday denied knowledge of a $3.5 billion fund allegedly kept and utilised by the Nigeria...

Maikanti-Baru-NNPC

Oil boom, the greedy few and crushing burden of subsidy

For the first time in two years, oil prices have risen steadily from $30 per barrel to a little over $80 per barrel. In addition, crude oil production is proceeding...

Senate to fast track passage of new minimum wage bill

Senate probes unapproved $3.5bn spent by NNPC on subsidy

The Senate on Tuesday set up a committee to investigate $3.5 billion budget recovery fund allegedly spent by the Nigeria National Petroleum Corporation (NNPC) on...

Maikanti-Baru-NNPC

NNPC: FG owing us N170.6bn in subsidy payments

By Patience Danjuma  The Nigerian National Petroleum Corporation (NNPC) on Monday injected a fresh twist to the fuel subsidy controversy with a claim that the...

Ghana-now-sells-petrol-to-Nigeria-300x200 (1)

Subsidy: NNPC Act is law on its own, PPMC boss tells National Assembly

State oil firm, the Nigeria National Petroleum Corporation (NNPC), has revealed reasons it pays ‘subsidy’ on petrol without appropriation from the National...

Court jails another fuel subsidy fraudster 10 years

An Ikeja Division of the Lagos High Court has convicted Rowaye Jubril and his company, Brila Energy Ltd, on 13 counts of fuel subsidy fraud. Justice Lateefa Okunnu...

nigeria-senate

Subsidy: Senate to probe alleged irregularities by NNPC, marketers

The Senate said it had concluded arrangements to probe the Nigerian National Petroleum Corporation (NNPC) and Independent Marketers over alleged irregularities in the...

FG orders payment of N150bn to petroleum marketers

FG ‘still owing oil marketers N300bn subsidy arrears’

The federal government is yet to pay over N300 billion subsidy claims of major oil marketers for fuel imports between 2014-2015, says Akin Akinfemiwa, group chief...

Dirty fuel

Fuel scarcity looms as marketers lament N660bn subsidy owed by govt 

The Depot and Petroleum Products Marketers Association (DAPPMA) on Wednesday appealed to the Federal Government to settle subsidy arrears of over N660 billion allegedly...

Subsidy fraud convict who fainted in court to be sentenced tomorrow 

Oil subsidy fraud convict faints in court

An oil magnate, Mrs. Ada Ugo-Ndali, fainted in the dock on Friday shortly before she was convicted of a N1.7 billion subsidy fraud by a Lagos High Court sitting in...

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