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Taiwo Oyedele petrol subsidy

Tinubu Rules Out Return of Petrol Subsidy, Tells City Boy Movement Nigeria Will Not “Go Back to Egypt”

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Tinubu Rules Out Return of Petrol Subsidy, Tells City Boy Movement Nigeria Will Not “Go Back to Egypt”

President Bola Tinubu has shut the door on bringing back the petrol subsidy, borrowing a biblical image to make the point and turning a policy fight into an election-season line in the sand. Speaking in Abuja on Monday evening to members of the City Boy Movement, a youth group set up to campaign for his … Read more

NNPC Retail Suspends Petrol Profit Margin for 30 Days: How the Sell-at-Cost Deal Works, Who Pays and What Happens Next

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NNPC Retail Suspends Petrol Profit Margin for 30 Days: How the Sell-at-Cost Deal Works, Who Pays and What Happens Next

Behind the headline numbers of Nigeria’s 30-day petrol relief is a simple mechanism with a few unanswered questions. The Nigerian National Petroleum Company (NNPC) Limited has agreed to give up its retail profit margin on petrol for a month, so that its filling stations sell at cost, according to a statement from presidential spokesperson Bayo … Read more