subsidy

  • Nigeria: Subsidy Removal will Attract Foreign Investment

    Nigeria: Subsidy Removal will Attract Foreign Investment

    Thursday, 19th May 2016
    Nigeria's Minister of State for Petroleum Resources, Ibe Kachikwu, defended the new fuel price regime saying it would encourage massive investment in infrastructure by attracting Foreign Direct Investment.
  • Nigeria Lifts Gas Subsidy, Fuel Nearly Doubles Price

    Nigeria Lifts Gas Subsidy, Fuel Nearly Doubles Price

    Thursday, 12th May 2016
    Nigeria's government announced it is lifting a controversial subsidy on gas, nearly doubling the price amid a massive fuel shortage and militant attacks on oil installations in Africa's biggest petroleum producer.
  • Former Minister: Official Cost for Liter of Gasoline EGP7

    Former Minister: Official Cost for Liter of Gasoline EGP7

    Sunday, 20th December 2015
    The official cost for a liter of gasoline in Egypt is EGP7, said Osama Kamal, the former Minister of Petroleum.
  • EC Extends Restrictions on China’s Solar Panel Import

    EC Extends Restrictions on China’s Solar Panel Import

    Sunday, 6th December 2015
    The European Commission (EC) has extended restrictions on Chinese solar panels import to Europe over a pending review of market protection measures as set by the 2013 EC arrangement, due to expire by end 2015.
  • Nigeria Approves $2.1b Payment to Oil Marketers

    Nigeria Approves $2.1b Payment to Oil Marketers

    Thursday, 5th November 2015
    Nigeria's government has approved the payment of $2.1b to oil marketers as outstanding payment for fuel subsidy claims, the state-run Nigerian National Petroleum Corporation has announced.
  • Energy Subsidies to Decrease by 5% This Year

    Energy Subsidies to Decrease by 5% This Year

    Sunday, 20th September 2015
    A source at the Petroleum Ministry told Egypt Oil & Gas that the Egyptian government only aims to reduce energy subsidies by 5% during the current budget of this fiscal year. The percentage is set at a lower than expected rate due the drop in world oil prices. This move is expected to save EGP 4b as part of the 5-year subsidy reform plan, with a sum reaching EGP 60b.
  • Finance Minister: Massive Gas Find Will Not Affect Subsidy Reform

    Finance Minister: Massive Gas Find Will Not Affect Subsidy Reform

    Tuesday, 8th September 2015
    Al Arabiya quoted Hany Kadry Dimian, the Egyptian finance minister, saying that the discovery of a massive new offshore natural gas field will not slow down his country's efforts to slash energy subsidies. The statement was made during the 20th Euromoney Conference, held in Cairo.
  • Nigeria’s Buhari Advised to End Fuel Subsidy

    Nigeria’s Buhari Advised to End Fuel Subsidy

    Monday, 22nd June 2015
    Nigeria's new president, Muhammadu Buhari, has been advised by his transition committee to end a fuel subsidy program and privatize Nigeria's four refineries, senior sources in his party told Reuters on Sunday.
  • Egypt Considers Cutting Fuel Subsidies by a Further EGP 20 Billion

    Egypt Considers Cutting Fuel Subsidies by a Further EGP 20 Billion

    Monday, 2nd February 2015
    Egypt is considering whether to reduce fuel subsidies by EGP 20 billion ($2.64 billion) next fiscal year, but it needs to study the social implications before reaching a decision, the investment minister said on Thursday.