• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, August 3, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Again, Federal Gov’t Denies Subsidy Payment Despite High Landing Cost

by Mark Itsibor
1 year ago
in News
Subsidy
Share on WhatsAppShare on FacebookShare on XTelegram

The federal government has, once again, denied that it was paying extra money to augment the shortfall in the landing cost of refined petroleum products, a claim that betrays current economic realities.

Advertisement

According to reports attributed to Major Energies Marketers Association of Nigeria recently, the landing cost of Premium Motor Spirit (PMS), also known as petrol, was N1,117/litre as of July 16, 2024. That was based on the prevailing rate of N1,500 per one US dollar in the nation’s exchange market. That claim has not been rebuffed by the federal government.

The government said it has not made any payment as underrecovery for imported petrol products since May 29, 2023, when President Bola Tinubu abruptly announced an end to the fuel subsidy regime.

“Mr President said on May 29 that subsidy is gone. Subsidy is gone. We do not have a line in the budget for subsidy payment. We do not have payments being made whether in the budget or out by the federal government of Nigeria or even the federation directly for subsidy,” minister of finance and coordinating minister of the economy, Wale Edun, made the claim on Thursday in a response to a question by LEADERSHIP reporter during a media briefing in his Abuja office.

He said what has been happening was a situation where the NNPCL was carrying the burden of the spike in exchange rate variation as part of its responsibility to ensure availability of the product in the local market.

RELATED

Mali Charges Ex-PM With Undermining The State

Mali Charges Ex-PM With Undermining The State

37 minutes ago
Our Resolve To Protect SMEs Remain Unshaken – Shettima

FG Committed To Transforming Agriculture Sector – VP Shettima

39 minutes ago

We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




Tags: Fuel Subsidy
SendShareTweetShare
Previous Post

Federal Gov’t Resumes Trial Of 300 Suspected Terrorists

Next Post

Court Jails Man 14 Years For Sexually Assaulting Minor In Ekiti

Mark Itsibor

Mark Itsibor

Mark Itsibor is a journalist and communication specialist with 10 years of experience, He is currently Chief Correspondent at LEADERSHIP Media Group and writes on Finance, Economy, Politics, Crime, and Judiciary. He has a B.Sc in Political Science, Post Graduate Diploma in Journalism (Print), and B.A in Development Communication. His Twitter handle is @Itsibor_M

You May Like

Mali Charges Ex-PM With Undermining The State
News

Mali Charges Ex-PM With Undermining The State

2025/08/03
Our Resolve To Protect SMEs Remain Unshaken – Shettima
News

FG Committed To Transforming Agriculture Sector – VP Shettima

2025/08/03
As APC Screens Aspirants For Ondo 2024…Aiyedatiwa Confronts Petition To Disqualify Him
News

Experts Oppose One-Day 2027 Elections

2025/08/03
Mechanical Engineer From Kwara — All You Need To Know About New NNPCL Boss Bashir Ojulari
News

Uncertainty Over NNPC CEO’s Alleged Resignation

2025/08/03
nigeria
News

Gov Sani Distributes 400 Trucks Of Fertilizer To Farmers

2025/08/03
4 Die In Lagos Boat Mishap
News

Women, Children Most Affected As Over 684 Lives Lost To Boat Mishaps Within 2 Years

2025/08/03
Leadership Conference advertisement

LATEST

Mali Charges Ex-PM With Undermining The State

FG Committed To Transforming Agriculture Sector – VP Shettima

Nigerian Courts’ Ambiguous Judgments

Activists Clash With Police, Anti-Migrant Protesters In UK

Family Condemns Hamas Video Showing Emaciated Israeli Hostage

Experts Oppose One-Day 2027 Elections

Uncertainty Over NNPC CEO’s Alleged Resignation

Trump Fires Lead Official On Economic Data

Gov Sani Distributes 400 Trucks Of Fertilizer To Farmers

Women, Children Most Affected As Over 684 Lives Lost To Boat Mishaps Within 2 Years

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.