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Nigeria To Spend N750.81bn On Fuel Subsidy In 2020

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6 years ago

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The Federal Government is expected to spend N750.81billion on petrol subsidy in 2020, latest data from the Petroleum Products Pricing Regulatory Agency have shown.
For more than two years, the Nigerian National Petroleum Corporation has shouldered petrol subsidy’s spending on behalf of the Federal Government.
It was observed from the PPPRA’s data obtained on Tuesday that the N750.81billion was N300.81billion higher than the N450billion which the Minister of Finance, Zainab Ahmed, recently said had been approved for subsidy in 2020.
The minister had during the public presentation of the 2020 budget details stated that a provision of N450billion had been made for ‘under-recovery’ of cost in respect of the importation of the Premium Motor Spirit, popularly called petrol.
According to her, this cost will be borne by the NNPC as part of its operations cost as currently being practised.
“A provision has been made in the budget for under-recovery for the PMS in the sum of N450billion provided in the fiscal framework. It is under-recovery because it is a cost operation for the NNPC,” Ahmed had said.
But figures obtained by our correspondent in Abuja from the PPPRA pricing template for petrol showed that the Expected Open Market Price for the commodity hovered between N165 and N178 per litre in the months of November and December 2019.
Operators stated that the fluctuation in the EOMP of petrol was due to the instability in the international price of crude oil.
The Organisation of Petroleum Exporting Countries and its allies have been working hard to ensure that crude oil price does not slip below the $60 per barrel price, which it has maintained for several months.
Taking randomly selected days from the PMS pricing templates of the PPPRA, for instance, the EOMPs for petrol on December 5, 4, 3 and 2 were N171.12/litre, N170.36/litre, N165.98/litre and N166.44/litre respectively.
On November 29, 25 and 21, also selected randomly, the EOMPs for petrol were N169.48/litre, N178.92/litre and N172.81/litre respectively.
Further findings showed that the ex-depot price for collection of petrol from the NNPC, which is the sole importer of the commodity into the country currently, remained at N133.28/litre.
The difference between the EOMP and the ex-depot price for collection of petrol for the selected days showed that the NNPC had been spending an average of about N37.4 on every litre of petrol consumed in Nigeria.
The national oil firm puts the daily consumption of petrol in Nigeria at about 55 million litres.
When this is multiplied by the 365 days in 2020 and at an average subsidy spending of N37.4 on every litre of petrol, the NNPC would be incurring a total of about N750.81billion as petrol subsidy by next year.

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HoS Hails Fubara Over Provision of Accommodation for Permanent Secretaries

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5 days ago

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February 2, 2026

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The Head of Service (HoS) of Rivers State, Dr. Mrs. Inyingi S. I. Brown, has commended Governor Sir Siminalayi Fubara, GSSRS, for approving befitting accommodation for Permanent Secretaries in the state.
This commendation was contained in a press release made available to newsmen in Port Harcourt.
According to the Head of Service, Governor Fubara has continued to demonstrate uncommon commitment to the welfare of civil servants in Rivers State, stressing that such gestures underscore his people-oriented leadership style. She urged civil servants across the state to remain supportive of the governor’s administration in order to sustain good governance and effective public service delivery.
Speaking on behalf of the Body of Permanent Secretaries, Dr. Brown congratulated Governor Fubara on the occasion of his 51st birthday, describing him as “a Governor who leads by serving.”
She further praised the governor’s service-driven and people-centred leadership approach, noting that it has significantly contributed to institutional stability and improved efficiency within the state’s public service. Special appreciation was expressed for the approval of a befitting accommodation complex for Permanent Secretaries, which she said reflects the governor’s commitment to staff welfare and enhanced productivity.
As part of activities to mark the governor’s birthday, the Body of Permanent Secretaries announced the sponsorship of 329 Joint Admissions and Matriculation Board (JAMB) forms for indigent students across the state.
A breakdown of the initiative shows that 319 forms will be distributed across the 319 political wards in Rivers State, while five forms are allocated to non-indigenes and five forms to persons living with disabilities.
Interested applicants are advised to contact the Office of the Permanent Secretary, Ministry of Education, for further details.
The Body of Permanent Secretaries wished Governor Fubara continued good health, divine wisdom, and greater accomplishments in his service to the people of Rivers State.
By John Bibor
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Allegation of Disrespect to President Tinubu Unfounded — Rivers Government

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5 days ago

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February 2, 2026

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The attention of the Rivers State Government has been drawn to a statement credited to an acclaimed Rivers State chapter of the National Youth Council of Nigeria (NYCN), purportedly authored by one Bestman Innocent Amadi, alleging that the Governor of Rivers State, His Excellency Sir Siminalayi Fubara, GSSRS, removed the official portrait of the President of the Federal Republic of Nigeria, President Asiwaju Bola Ahmed Tinubu, from the Government House, Port Harcourt.
For the avoidance of doubt, the Rivers State Government wishes to categorically state that there is no policy, directive, or intention on the part of the government or the Governor that disrespects the President of the Federal Republic of Nigeria or undermines the authority of the Federal Government.
On the contrary, the Rivers State Government, under the leadership of Governor Siminalayi Fubara, currently enjoys a robust, cordial, and collaborative relationship with the Federal Government, President Bola Ahmed Tinubu, and the Renewed Hope Agenda—a partnership that is already yielding positive and tangible benefits for the people of Rivers State.
Consequently, the insinuation that the Governor acted out of “ingratitude” or “disrespect” is misleading, irresponsible, inflammatory, and entirely unsupported by verifiable facts, and should therefore be disregarded by the public.
It is regrettable that a body expected to promote youth unity, peace, and responsible engagement would resort to incendiary language, personal attacks, and unsubstantiated claims capable of overheating the polity at a time when Rivers State requires calm, dialogue, and mature leadership.
The Rivers State Government therefore calls on well-meaning members of the public, particularly its esteemed and hardworking youths, to disregard and dissociate themselves from individuals or groups bent on advancing divisive rhetoric and falsehoods for political purposes.
Rivers State belongs to all of us. Political differences must never be allowed to override truth, civility, peace, and the collective pursuit of progress.
Members of the public are further urged to remain vigilant and avoid lending credence to inflammatory statements or the activities of fifth columnists pursuing dubious agendas aimed at sowing discord.
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Rivers Government Dismisses Allegations of Disrespect to President Tinubu

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5 days ago

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February 2, 2026

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The Rivers State Government has dismissed as unfounded and misleading allegations that Governor Sir Siminalayi Fubara removed the official portrait of President Asiwaju Bola Ahmed Tinubu from the Government House in Port Harcourt.
In a statement issued on Tuesday, the state government reacted to claims credited to an acclaimed Rivers State chapter of the National Youth Council of Nigeria (NYCN), describing the allegation as false, irresponsible, and unsupported by any verifiable facts.
The government clarified that it has no policy, directive, or intention that disrespects the President of the Federal Republic of Nigeria or undermines the authority of the Federal Government. It emphasized that Governor Fubara maintains a cordial, respectful, and collaborative relationship with President Tinubu and the Federal Government.
According to the statement, the relationship between Rivers State and the Federal Government has grown stronger under the Renewed Hope Agenda, with tangible benefits and positive impacts already being felt by residents of the state.
The Rivers State Government described insinuations that the governor acted out of “ingratitude” or “disrespect” as deliberately provocative, noting that such claims are capable of misleading the public and unnecessarily heating up the polity.
It further expressed concern that an organization expected to promote youth unity and peace would engage in what it termed incendiary language, personal attacks, and unsubstantiated accusations at a time when the state requires calm, dialogue, and responsible leadership.
The government called on well-meaning members of the public, especially the youths of Rivers State, to disregard the claims and dissociate themselves from individuals or groups spreading divisive rhetoric and falsehoods for political purposes.
Reaffirming its commitment to peace, unity, and progress, the state government stressed that political differences must never be allowed to override truth, civility, and the collective interest of the people.
Members of the public were also urged to remain vigilant and not give attention to inflammatory statements or individuals described as fifth columnists bent on causing division within the state.
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