The International Monetary Fund (IMF) has advised Nigeria to resist calls to restore broad-based petrol subsidies, recommending targeted transport support and better public spending to protect vulnerable households without worsening pressure on government finances. The Fund said directing relief to people most affected by higher fuel prices would be more effective than subsidising petrol for …
President Bola Ahmed Tinubu has urged BRICS to overhaul global governance and international financial institutions, saying emerging economies need a more representative system that reflects today’s economic and demographic realities. Tinubu made the call at the 2026 BRICS Summit in New Delhi, India, in an address delivered on his behalf by Vice President Kashim Shettima, …
Dangote Petroleum Refinery has warned that a return of petrol subsidies or fuel price controls could squeeze its refining margins, disrupt demand and make revenue forecasting more difficult. The warning was contained in the refinery’s prospectus for its proposed initial public offering (IPO), released on Thursday, where the company identified uncertainty in government fuel-pricing policies …
When former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, on August 19, 2026, pledged to restore the petrol subsidy if elected president in 2027, his declaration immediately reignited a national political and economic debate, with stakeholders divided over whether the policy would ease Nigerians’ economic hardship or reverse reforms already undertaken …
The presidential candidate of the Accord Party, Gbenga Olawepo-Hashim, has said petrol would sell for no more than ₦605 per litre under an Accord administration, with the possibility of reducing the price to between ₦200 and ₦300 if production costs and the exchange rate are brought under control. Hashim said the ₦605 price would be …
President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, has said the Federal government should sell only a 51 per cent stake in the refineries managed by the Nigeria National Petroleum Company (NNPC) Limited to private investors. Osifo said PENGASSAN has always maintained that the government should not sell …
Iran has introduced a new pricing tier for its nationally subsidised gasoline in an effort to rein in rising economic pressures, marking the most significant adjustment to the country’s fuel-subsidy system since the 2019 price hike that sparked widespread protests and a violent crackdown. Under the revised system, Iranian motorists can still purchase 60 litres …
The Presidency has said former President Goodluck Jonathan is free to contest the 2027 general election but warned that Nigerians will not forget what it described as his “dismal record” in office. Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, made the remarks in a statement on Monday in Abuja while …
