Subsidy
The Federal Government’s electricity subsidy obligation has reached N536.4 billion in Quarter 1 of 2025, a 64.7 billion naira increase from Quarter 4 of 2024. This amount covers 59.16% of power generation companies’ invoices, exacerbating the government’s struggle to clear over N4 trillion in debts owed to GenCos. The Nigerian Electricity Regulatory Commission (NERC) has […]
Alhaji Umar Ajiya, the Nigerian National Petroleum Company Limited’s (NNPCL) financial officer, revealed that no one had received fuel subsidies in the previous nine months. Ajiya stated that the NNPCL is handling the Premium Motor Spirit (PMS) importation gaps between the corporation and the federation during a news conference in Abuja. “NNPC Ltd. has not […]
Nigeria’s inflation rate has been tipped to hit 30% by December 2023, global financial advisory service firm, Klynveld Peat Marwick Goerdeler (KPMG) has predicted. KPMG in its macroeconomic review for the first half of 2023 and outlook for the year’s second half noted that recent reforms in the petroleum industry and unification of the foreign […]
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