President Bola Tinubu has said he removed the subsidy on fuel to safeguard the future of Nigerians. Tinubu said he couldn’t allow Nigeria to go bankrupt, hence the need to remove the subsidy on fuel.

A fuel levy for the country remains an open case; and the burden of proof lies with those who insist that this is a “bridge, ...

ABUJA (Reuters) - Nigeria will struggle to attract the investment it needs to get its refineries working unless it scraps a fuel subsidy that keeps domestic gasoline prices artificially low, a ...

Despite being Africa’s largest oil producer, Nigeria has long depended on fuel imports due to its four state-owned refineries falling into disrepair. As a result, the government has been paying hefty ...

A SaharaReporters' review of the Nigerian National Petroleum Company Limited (NNPCL) financial statement for the year ended ...

Nigerian billionaire Aliko Dangote said the “time is right” for the West African nation to end a decades-long subsidy on fuel, as gasoline production at his mega refinery near Lagos helps to ease ...

Nigeria’s bid to accelerate electric mobility gained renewed momentum in Lagos as industry leaders, policymakers, and ...

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed that the country has saved a staggering $20 billion following the removal of the petrol subsidy and the ...

We've invested $20bn, so we need to make a profit. At the end of the day, the subsidy has to go." Nigeria previously relied entirely on imported petrol before Dangote's refinery began operations.

LONDON/ABUJA, May 8 (Reuters) - Fuel shortages are set to worsen in Nigeria as international traders and local marketers back away from imports over fears that the cash-strapped new government will ...

ABUJA (Reuters) - Nigeria's finance minister said on Thursday she had ordered a slow down to fuel subsidy payments to allow verification that they are for genuine deliveries, an effort to combat fraud ...

When President Bola Tinubu approved a 15% import duty on petrol and diesel in October 2025, his advisers framed it as a strategic move: protect billions of dollars of new refining investment, conserve ...