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NEWS

Four marketers spend N833bn on fuel imports – Report

Nigeria’s major oil marketers have significantly benefited from the Federal Government’s recent policy to eliminate subsidies on petroleum products. This change has allowed marketers to operate in a more market-driven environment, leading to substantial financial gains. In the first nine months of 2024, four prominent oil marketers reported significant revenue gain, earning a total sum of N1.3tn from the sales of petroleum products to Nigerians. Despite the considerable costs involved […]

todayNovember 4, 2024 10

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BUSINESS

Subsidy: FG may spend N236bn monthly on imported, Dangote petrol

The Federal Government may spend about N236 billion monthly to subsidise the Premium Motor Spirit, popularly called petrol, that is imported through the Nigerian National Petroleum Company and the one that is solely off-taken by NNPC from the Dangote Petroleum Refinery. On Monday, the President and Chief Executive of Dangote Group, Alhaji Aliko Dangote, called on the Federal Government to end fuel subsidies completely. He said the removal would help […]

todaySeptember 25, 2024 28

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NEWS

National, state assemblies to spend N724bn in 2024

The National Assembly and the 36 state assemblies of the federation as well as their agencies will spend about N724bn this year, an analysis of their 2024 budgets Further findings also showed that the salaries and allowances for federal and state lawmakers would cost the country about N50bn this year. This means that the federal and state governments earmarked N673.94bn for the national and state assemblies as well as their […]

todayMay 13, 2024 27

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NEWS

Budget: FG to spend N837bn on 2,254 roads, bridges

The Federal Government is planning to rehabilitate and construct 1,925 roads and highways across the country in the 2024 budget proposal' The government also allocated N548.56b for roads construction in 2024, with the East-West and Benin-Akure roads getting N2bn and N3.75bn respectively. This is however separate from the N288.44bn allocated for the modernisation of 329 roads and bridges in the 2023 supplementary budget. If road projects in the supplementary budget […]

todayDecember 11, 2023 23

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BUSINESS

Spend $150m Abacha loot on N’Delta, activist tells Tinubu

A Niger Delta rights activist, Ozobo Austin, has called on President Bola Tinubu to appropriate the $150m Gen. Sani Abacha loot to boost critical infrastructures in the Niger Delta region, saying “the money is part of the Niger Delta oil funds being stolen by Abacha.” Ozobo, in a statement on Wednesday, maintained that “no region but the Niger Delta should benefit from the money, and it would amount to injustice […]

todayNovember 9, 2023 101

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