Petrol subsidy gulped N541bn in six months – NNPC - Newstrends
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Petrol subsidy gulped N541bn in six months – NNPC

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A total of N541.65 billion was expended on petrol subsidy between February and July 2021, the Nigerian National Petroleum Corporation has said.

This is contained in a document showing an NNPC’s presentation at the August 2021 Federation Account Allocation Committee meeting.

A breakdown of the petrol subsidy payments indicated that N25.37 billion was spent in February, N60.39 billion in March, and N61.96 billion in April.

The amount rose to N126.298 billion in May, N164.337 billion in June, and reduced to N103.286 billion in July.

The NNPC, which is currently the sole importer of petrol, has continued to bear the burden of underpriced sale of petrol of premium motor spirit (PMS).

The corporation has been deducting subsidy payments from oil and gas proceeds due to the three tiers of government.

Subsidy cost, according to the NNPC, prevented it from making any remittance to the FAAC in May.

The corporation deducted N126 billion in June; N114.3 billion in July; N170.4 billion in August from its remittance to FAAC in the aforementioned months.

The document showed that between January and August, the corporation made a contribution of N349.25 billion to the federal, state and local governments with a deficit of N1.12 trillion.

A breakdown of the FAAC remittances includes N90.86 billion in January; N64.16 billion in February; N41.18 billion in March; zero contributions in April; N38.61 billion in May; N47.16 billion in June and N67.28 billion in July.

It was also learn that the NNPC would deduct a total sum of N215.32 billion from its remittance to the FAAC in September.

“Out of the value shortfall of N143,286,281,752.62, the sum of N103,286,281,752.62 was applied on the gross domestic receipts before arriving at the net receipt of N67.28bn in order to make funds available for JV cost recovery to sustain the existing production level. The balance of N40bn will be deducted in subsequent months,” the NNPC document stated.

It also stated, “The July 2021 value shortfall of N175,317,701,294.80 & outstanding balance of N40bn will be deductible from the August 2021 proceeds due for sharing at the September 2021 FAAC meeting.”

Group Managing Director of the NNPC, Mele Kyari, had said the pump price of petrol should be N256 per litre as he disclosed that subsidy payments was gulping at least N140 billion monthly.

 

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Jetour X70 Plus storms Nigerian market with luxury features, advanced tech

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Jetour X70 Plus storms Nigerian market with luxury features, advanced tech

 

The Jetour X70 Plus that distinguishes itself as a feature-packed SUV designed to deliver enhanced safety, comfort and performance for both drivers and passengers is now in the Nigerian market.

Built as an upgrade to the regular X70, the model combines advanced technology with premium convenience features that place it among the most well-equipped SUVs in its class.

To support ownership experience, Jetour Nigeria has accredited dealers across the country, including Elizade Nigeria Limited, New Era AutoVehicle Services Limited, Kojo Motors, Germaine Auto Centre, Tab Autos Limited, R. T. Briscoe Motors and Mandilas Autos.

Safety is a major highlight of the X70 Plus. The SUV comes fitted with an extensive airbag system, including driver, passenger, seat and curtain airbags, providing comprehensive occupant protection.

Electronic safety technologies such as the Vehicle Stability Control System help maintain balance on different road conditions, while Hill-Start and Hill-Descent Assist Control improve confidence on inclines.

The Electronic Parking Brake and Auto Hold system further enhance ease of use, especially in traffic.

Parking and maneuvering are made easier through a 360-degree panoramic camera system with 2D and 3D views, supported by front and rear parking sensors.

Security is reinforced with features such as an auto lockout system and automatic door locking. The SUV’s 20-inch alloy wheels not only contribute to its bold stance but also improve ground grip and clearance across varying terrains.

The X70 Plus is equipped with advanced driving and convenience systems, including an electronic gear shifting system, smart entry and push-start ignition.

Drivers can choose between Eco, Normal and Sport driving modes, while cruise control adds comfort during long journeys.

Inside the cabin, technology and comfort are brought together through a 10.23-inch LCD touchscreen with phone mirroring, Bluetooth connectivity and a wireless charger.

A panoramic roof enhances cabin openness, while the digital touchscreen air-conditioning system with automatic rear vents and air purification ensures a pleasant environment.

An eight-speaker audio system delivers improved in-car entertainment. Additional comfort features include power-adjustable seats with heating and ventilation, as well as electrically adjustable, foldable and heated outside mirrors for improved visibility in adverse weather.

LED headlamps and fog lamps enhance safety during night driving and in poor visibility conditions.

The seven-seater SUV is powered by either a 1.5-litre or 1.6-litre turbocharged engine, delivering up to 145kW of power and 290Nm of torque, paired with a dual-clutch automatic transmission.

With its generous dimensions and automatic rear trunk opening, the Jetour X70 Plus combines practicality with premium features, supported by comprehensive after-sales service, genuine spare parts and dedicated technical support from Jetour Nigeria.

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NRC worries over stone attacks on Abuja-Kaduna trains

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NRC worries over stone attacks on Abuja-Kaduna trains

 

The Nigerian Railway Corporation (NRC) has raised the alarm over a surge in attacks on trains operating along the Abuja–Kaduna corridor, warning that the incidents pose growing risks to passenger safety and critical transport infrastructure.

In the latest episode, suspected vandals reportedly targeted a moving train around Kilometre 177, hurling stones that shattered the windscreen of the lead locomotive.

The attack is one of several recorded in recent weeks along the busy rail line.

According to a statement by the NRC’s Chief Public Relations Officer, Callistus Unyimadu, similar incidents have occurred in multiple locations, including Gidan Busa/Sarki Gora Village in Kakau District, Chikun Local Government Area of Kaduna State.

He disclosed that no fewer than six attack points have been identified along the corridor within a short period.

The corporation described the pattern as a dangerous escalation that threatens not only passengers and railway personnel but also the integrity of rail infrastructure.

It warned that such acts amount to economic sabotage capable of disrupting a key transport link and undermining significant government investment in the sector.

Despite the attacks, the NRC said train services had continued under heightened security and operational vigilance, with personnel maintaining strict safety protocols to protect passengers.

The agency commended security operatives for their ongoing efforts in safeguarding the corridor and noted that it is collaborating closely with security agencies, community leaders, and other stakeholders to strengthen surveillance and track down those responsible.

Appealing for public cooperation, the NRC urged residents along the rail line to remain vigilant, report suspicious activities, and discourage acts of vandalism.

It cautioned that continued attacks could disrupt service delivery if not urgently addressed, while reaffirming its commitment to safe, secure, and efficient rail operations nationwide.

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Cooking Gas Crisis Deepens as LPG Price Surges to ₦1,400/kg Across Nigeria

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Cooking Gas Crisis Deepens as LPG Price Surges to ₦1,400/kg Across Nigeria

Nigerians, especially urban residents, are facing renewed economic pressure as the price of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, has risen sharply to an average of about ₦1,400 per kilogram, up from around ₦1,000/kg in early March 2026. The development represents a 40 per cent increase within two months, worsening the cost of living for middle- and low-income households already struggling with inflation and rising energy costs.

The surge in cooking gas prices in Nigeria is happening alongside increases in other energy products. Petrol now sells between ₦1,345 and ₦1,400 per litre in Lagos and Abuja depending on location and filling station, while diesel has climbed to between ₦1,900 and ₦2,000 per litre, further deepening household financial strain.

Market data shows that households are already feeling the impact. A survey indicates that a 6kg cylinder of gas now costs about ₦8,400, while a 12kg refill sells for between ₦16,800 and ₦18,000 in many parts of the country, depending on the outlet and location.

The rising cost of LPG in Nigeria has significantly weakened purchasing power, forcing many families to cut consumption or switch to alternative cooking methods such as firewood and kerosene. In several urban areas, households are adjusting daily routines to cope with the increasing cost of energy.

There has also been a noticeable rise in the promotion and use of smokeless charcoal cooking stoves, which vendors are marketing as cheaper alternatives to gas. Some sellers claim the stoves cook as fast as gas, produce less smoke, and reduce household cooking expenses by up to 50 per cent, attracting increasing interest from struggling families.

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Residents across Lagos have continued to express frustration over the rising costs. A resident of Ketu, Mrs. Susan Adedayo, said she was shocked to discover that her 12kg gas refill had risen to ₦16,800, compared to ₦13,200 just a month earlier, describing the situation as unbearable for average households.

Another resident in Ojodu, Ms. Adetutu, said she now compares prices across different outlets due to constant fluctuations. She noted that she bought gas at ₦1,250 per kg, while other stations charged up to ₦1,400. She added that prices had moved from ₦700 per kg in January to ₦900 in March, warning that further increases appear likely.

Industry experts say the price hike is being driven by rising depot costs, supply shortages, and global energy pressures. The ex-depot price of LPG has reportedly increased by about 16.7 per cent to ₦21 million per 20 metric tonnes, up from around ₦18 million within weeks, forcing retailers to adjust prices upward.

The National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Inyang Edu, confirmed the price surge and linked it to multiple structural issues affecting supply and pricing in the domestic market.

He explained that domestic supply from key producers such as the Dangote Refinery and the Nigerian Liquefied Natural Gas (NLNG) has been insufficient to meet growing demand, leading to increased dependence on imports and higher costs.

Edu also pointed to global market pressures, noting that the Middle East crisis has affected crude oil prices and, by extension, LPG costs. He added that foreign exchange challenges linked to imports are further increasing the price of petroleum products across the board.

With energy costs rising simultaneously across cooking gas, petrol, and diesel, analysts warn that Nigerian households are facing a worsening energy inflation crisis. Many consumers are now calling for urgent government intervention to stabilise LPG supply, strengthen local production, and reduce reliance on imports to ease the burden on citizens.

Cooking Gas Crisis Deepens as LPG Price Surges to ₦1,400/kg Across Nigeria

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