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    Kapital FM 92.9 The Station that Rocks!

subsidy

16 Results / Page 1 of 2
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Business

Shocking surge: Electricity Subsidy Jumps 220% To Nearly N2tn

The Federal Government’s electricity tariff subsidy jumped from N610bn in 2023 to N1.94tn in 2024, According to reports, this represents a 219.67 per cent increase in yearly subsidy funding, despite the Band A tariff hike of April 2024. The Nigerian Electricity Regulatory Commission and analysts observed that the subsidy figures rose following the floating of the naira by President Bola Tinubu in June 2024 as well as the removal of […]

todayJuly 18, 2025

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Health

FG Urged To Subsidize Cancer Treatment Amid Rising Cases

The House of Representatives has called on the Federal Government to subsidize the cost of cancer treatment in Nigeria, citing the increasing burden on patients and the escalating public health crisis. This resolution followed the adoption of a motion sponsored by member representing Ibarapa East/Ido Federal Constituency in Oyo State, Aderemi Oseni, at plenary. Leading the debate, the lawmaker who emphasized that cancer treatment can cost patients millions of naira […]

todayMay 7, 2025

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National

Subsidy Removal Saved Nig $10b In 2023 – Kalu

Deputy Speaker of the House of Representatives, Benjamin Kalu says President Bola Ahmed Tinubu's decision to remove subsidy on Premium Motor Spirit, PMS, also known as petrol, saved Nigeria about $10 billion in 2023. Speaking at a meeting with investors and scholars at Oxford University in London, Kalu noted that the Tinubu administration's efforts to promote economic growth and development led to a significant increase in Foreign Direct Investment (FDI), […]

todayJanuary 25, 2025

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Business

FG Begins N2.7tn Subsidy Debt Probe, Enlists Auditor General

The Federal Government has begun the proposed audit of the N2.7tn fuel subsidy claim by the Nigerian National Petroleum Company Limited, The PUNCH has learnt. An audit firm, KPMG had conducted an initial audit reducing the claims from N6tn to N2.7tn. However, in the new audit, the government said it had approved the engagement of the Office of the Auditor General of the Federation to verify the claims made by […]

todayJune 21, 2024

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Economy

Removing Fuel Subsidy Saved Nigeria From Bankruptcy — Tinubu

President Bola Tinubu said, on Sunday, that Nigeria would have gone bankrupt if his administration had not discontinued fuel subsidy payments. He said though the policy came with economic pains, it was in the best interest of Nigerians. Tinubu spoke at the Special World Economic Forum in Riyadh, Saudi Arabia. Upon assuming office last May, Tinubu implemented the discontinuance of subsidies on petrol as prescribed by the immediate past administration […]

todayApril 29, 2024

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Economy

NNPCL, Marketers Clash Over Subsidy

The Nigerian National Petroleum Company Limited and fuel marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria, on Tuesday, clashed again over the removal of subsidy on petrol. This came against the backdrop of the depreciation of the naira against the United States dollar at both the official Investors & Exporters Window and the parallel market. On Tuesday, the local currency closed at 998/dollar at the official […]

todayJanuary 3, 2024

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Business

IMF Proposes More Taxes After Subsidy Removal

The International Monetary Fund, on Friday, said for Nigeria’s fuel subsidy removal policy and foreign exchange unification initiative to translate to economic growth and stability, the Federal Government must collect more taxes to fund the national budget and pay public debts. The IMF Africa Department Director, Abebe Selassie, made the position known during a press briefing on the Sub-Saharan Africa Regional Economic Outlook at the ongoing World Bank Group/International Monetary […]

todayOctober 14, 2023

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Local

Fuel Subsidy Removal : Tinubu Again Appeals For Patience

Amid the hardship in the country as a result of the fuel subsidy Removal, President Bola Tinubu has again urged Nigerians to exercise patient as there will be light at the end of the tunnel. President Tinubu made the plea in Abuja while unveiling the 688 page book titled "Brutally Frank" which is an autobiography of Chief Edwin Clark. Represented by the Secretary to the Government of the Federation, Senator George Akume, […]

todayAugust 18, 2023

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National

Fuel Subsidy Removal : Tinubu Again Appeals For Patience

Amid the hardship in the country as a result of the fuel subsidy Removal, President Bola Tinubu has again urged Nigerians to exercise patience as there will be light at the end of the tunnel. President Tinubu made the plea in Abuja while unveiling the 688-page book titled "Brutally Frank" which is an autobiography of Chief Edwin Clark. Represented by the Secretary to the Government of the Federation, Senator George […]

todayAugust 18, 2023