30 results
- 24 Jan 2022
FG Suspends Planned Fuel Subsidy Removal
Federal government has suspended the planned petrol subsidy removal till further notice. The government had planned to stop subsidy payments on petroleum products from July this year following a…
- 28 Mar 2013
FG Backs Down, Says Removal Oil Subsidy to Wait
Dr. Doyin Okupe, senior special assistant to the President (Public Affairs), yesterday, posted a statement on Facebook which said that the federal government will not remove oil subsidy…
- 24 Nov 2024
Subsidy Removal and Naira Float Policies Save Nigeria $20bn - Edun
Wale Edun, Nigeria's minister of finance and coordinating minister of the economy, revealed that the country has saved $20 billion through the removal of petrol subsidies and the adoption of…
- 5 Aug 2026
ITUC-Africa Faults FG’s Plans to Remove Electricity Subsidy
International Trade Union Confederation, (ITUC-Africa), representing trade unions from countries in Africa, has called on Nigeria and other African governments to ensure that industrialisation…
- 7 Feb 2022
Again, IMF Asks Nigeria to Hike VAT, Remove Fuel Subsidy
International Monetary Fund (IMF) has once more advised Nigeria's federal government to increase Value Added Tax (VAT), while also offering other fiscal measures that the country could adopt to…
- 30 Apr 2019
Will Nigeria listen to IMF’s call to remove fuel subsidy?
By Lukman Otunuga, FXTM Research Analyst, The IMF has once again called on Nigeria to phase out government fuel subsidies, citing better use of the funds on social safety nets like healthcare,…
- 2 Jul 2023
SERAP Gives Tinubu 7days Ultimatum to Publish Details of N400Bn Fuel Subsidy Savings
Socio-Economic Rights Accountability Project (SERAP) has demanded that Nigerian President Bola Tinubu publish spending details of the N400 billion saved as a result of removal of fuel subsidy over…
- 21 Sept 2023
Infrastructure Bank Earmarks N13Bn to Support FG’s Palliative Fund
The Infrastructure Bank of Nigeria has set aside N13 billion in support of the federal government’s palliatives on fuel subsidy removal via the provision of transportation system to cushion the…
- 18 Aug 2026
Nigeria May Have Escaped Fiscal Cliff; Now Build an Economy Worth the Sacrifice
Three years after the removal of the fuel subsidy and the adjustment of the foreign-exchange regime, Nigeria’s revenue and external positions have improved significantly. After escaping the fiscal cliff as touted, but with the United States questioning the country’s fiscal transparency, the harder question is whether these gains can be translated into an economy worthy of the sacrifice Nigerians have endured.
- 19 Mar 2023
Finance Minister Urges Incoming Govt to Hike VAT from 7.5Percent to 10
Zainab Ahmed, minister of Finance, Budget and National Planning,, has urged the incoming administration to increase the Value Added Tax (VAT) from the current 7.5 percent to 10 percent, saying this…
- 25 Mar 2013
Labour Plans Another “Occupy Nigeria” over Fuel Subsidy
Organized labour said it would on April 10 embark on another nationwide mass protests and organized civil disobedience to press home their resentment for the planned increase in the prices of…
- 16 Jan 2014
Survey Reveals 13% Nigerians Buy Petrol @ N100 Per Litre
Fourth Quarter (Q4) results for the Petrol Price Monitoring Polls conducted by NOIPolls Limited has revealed that 13% of Nigerians purchased petrol N100, an increment of N3 and probably by…
- 25 Jul 2015
Deziani, Okonjo-Iweala, Others Key Targets as Buhari Launches Corruption Probe
Deziani Allison-Madueke and Dr. Ngozi Okonjo-Iweala, former Mmnisters of Petroleum and Finance respectively are among frontline ministers under President Goodluck Jonathan’s government that are being…
- 22 Oct 2023
FG Launches Cash Transfers with BVN for 15m Households
Some Nigerians who are expected to benefit from a government cash assistance scheme aimed at cushioning the efforts of fuel subsidy removal in the country, have already had their identity verified by…
- 15 Mar 2010
CBN Leaves Benchmark Rate Unchanged
The Central Bank of Nigeria (CBN) left its benchmark interest rate unchanged; concerned that inflation may accelerate as the government prepares to remove fuel subsidies. The monetary policy rate was…
- 12 Nov 2023
Nigeria’s Inflation Rate May Hit 30 Percent by December 2023 —KPMG
Klynveld Peat Marwick Goerdeler (KPMG), global financial advisory service firm, has predicted Nigeria’s headline inflation rate to hit 30 per cent by December 2023. Headline inflation is the raw…
- 7 Aug 2024
FG spends $600m monthly on fuel importation – Minister of Finance, Wale Edun
Wale Edun, Minister of Finance and Coordinating Minister of the Economy, has revealed that Nigeria currently spends $600 million each month on fuel imports. Wale Edun Edun attributed this high…
- 6 Feb 2012
How Social Media Fueled ‘Occupy Nigeria’ Protests
Social media played a profound role in recruiting and spreading calls for action that contributed to the success of the recent strike and street protests organized by the Nigeria Labour Congress…
- 30 Jun 2023
DLM Asset Management Reels out Techniques to Grow Cash, Finish Strong in 2023
DLM Asset Management Limited, a division of DLM Capital Group, held a Zoom webinar on financial literacy titled "Grow your Cash Flow and Finish Strong in 2023. "People from different parts of the…
- 8 Sept 2025
TUC Labels 5 Percent Tax on Petroleum Products ‘Economic Wickedness', Threatens Strike
Trade Union Congress of Nigeria (TUC) has rejected the federal government’s proposed 5 per cent tax on petroleum products, describing it as “economic wickedness” against citizens already weighed down…
- 20 Jan 2026
How Policy Flip-Flops Are Making Nigerians Poorer
By Blaise Udunze Nigeria’s deepening poverty crisis is no longer speculative; it is now statistically inevitable. Although the latest Consumer Price Index figures released by the National Bureau of…
- 18 May 2025
SERAP Asks Ojulari, NNPC CEO to Account for Missing N500Bn or Face Legal Action
Socio-Economic Rights and Accountability Project (SERAP) has called on Mr. Bayo Bashir Ojulari, group chief executive officer, Nigerian National Petroleum Company (NNPCL) Limited, to provide…
- 17 Oct 2025
Nigeria’s Inflation Drop: Has Life Become Any Easier?
By Blaise Udunze When the National Bureau of Statistics (NBS) yesterday announced that Nigeria’s inflation rate had dropped to 18.02 percent in September 2025, the news was met with official…
- 3 Jan 2025
World Bank Okays $1.5Bn Loan to Nigeria in Support of Tax Bills
World Bank has just released $1.5 billion loan to Nigeria, less than six months after approval. This is in support for the Reforms for Economic Stabilisation to Enable Transformation (RESET)…
- 16 Dec 2024
Food Inflation Reaches 39.93% as Nigeria's Inflation Rate Hits 34.6%
Nigeria’s headline inflation rate rose to 34.60% in November 2024 from 33.88% in October 2024, the National Bureau of Statistics (NBS) said Monday. The November inflation rate showed an increase of…
- 31 Jul 2026
FG to Phase out Power Subsidies from 2027, Rules out Immediate Tariff Hike
Federal Government says it will begin the gradual phase-out of electricity subsidies from 2027 as part of ongoing reforms aimed at improving the sustainability of Nigeria's power sector. The Minister…
- 4 May 2025
Cabals Still Fighting our Refinery – Dangote
Aliko Dangote, Africa’s richest man and president of Dangote Refinery, has insisted that the ‘cabal’ in Nigeria’s oil and gas sector is still fighting against the success of his 650,000 barrels per…
- 20 Feb 2023
FITC Partners CFA to Host National Economic Development Outlook
FITC in collaboration with CFA Society Nigeria, has organized the second edition of the National Economic Development Outlook Series (NEDS) 2023, to equip individuals and organizations with a firm…
- 13 May 2016
New Fuel Price Regime Inevitable - FG
Federal government has said the introduction of a new price regime for Premium Motor Spirit (petrol) has become inevitable in order to halt the crippling fuel scarcity in the country and ensure…
- 1 Oct 2023
SERAP Sues 36 Govs over Failure to Account for N72Bn Subsidy Palliative
Socio-Economic Rights and Accountability Project (SERAP) says it has filed a lawsuit against the 36 state governors in Nigeria over “their failure to account for the spending of the N72 billion…