Nigeria’s power Generation Companies (Gencos) recorded a weak cash recovery in 2025, with only 39.25 per cent of their total invoices settled, as unfunded government subsidies ballooned to N1.85 trillion in one year, weighing heavily on the liquidity of the electricity market. Latest industry data showed that Gencos issued invoices …
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To help parents and wards cope with the economic hardship that attended the federal government’s removal of the petrol subsidy, the Kaduna government has decided to reduce the tuition fees of some tertiary institutions in the state. The state government’s decision affected at least five institutions, including universities and colleges. …
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The Federal Government has so far saved about N400bn as a result of the removal of subsidy on Premium Motor Spirit, popularly called petrol, since May 31, 2023, when the initiative was officially implemented, oil marketers stated on Thursday. Also, the oil dealers stated that there was a high possibility …
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Some Senators have said the National Assembly would not allow the President, Major General Muhammadu Buhari (retd.) to end the proposed subsidy removal by the end of his tenure in June 2023. The lawmakers said discontinuing the policy in June would create a serious crisis for the new administration that …
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The projected oil price of the Federal Government of $62/barrel as contained in the 2022 Appropriation Bill has almost doubled going by the current global oil prices, which have been on the increase since the invasion of Ukraine by Russia on February 24, 2022. Industry figures showed that Brent, the …
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Key labour unions in Nigeria met on Tuesday in Abuja where they outlined the conditions the Federal Government must meet before it would be allowed to stop subsidising Premium Motor Spirit, popularly called petrol. Officials of the Trade Union Congress, Nigeria Labour Congress, Petroleum and Natural Gas Senior Staff Association …
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