News about fuel subsidies
- Llewellyn Leonard
- Article
Fossil fuel subsidies are paid when a government covers some of the costs involved in producing fossil fuel energy. This can be done by increasing the revenue received by oil, gas or coal companies, or lowering the price paid by consumers for fossil fuel based energy.
- News
- Economic Confidential
- News
The removal of fuel subsidies has been a contentious issue in Nigeria, with proponents arguing that it will improve the economy and opponents claiming that it will lead to increased poverty and social unrest. For me, both of these points of view are correct.
- Uche Igwe
- Article
Nigeria is to be rich in natural resources but poor in energy. This is the puzzle of the so-called paradox of plenty. The country has one of the most significant energy deficits in the world according to the World Bank’s 2022 Energy Access Report.
- Donald Ikenna Ofoegbu
- Article
In the sweltering heat of Nigeria, where temperatures soar above 36 degrees Celsius, the oppressive reality of epileptic power supply casts a dark shadow over daily life. As citizens endure the unbearable heat and frequent blackouts, the quest for reliable electricity becomes a desperate plea for relief.
- News
- The Sun
- News
The CCCD and ODI conducted a research aimed at understanding the impacts of fuel subsidy reforms and its potential near-term consequences. It offers a suite of guides for politically smart, socially inclusive reforms and reallocation of public funds, which in the long term could be the first step to planning towards a just and equitable transition.
- Harry Verhoeven and Théophile Pouget-Abadie
- Article
Nearly 775 million people around the globe are estimated to have no access to electricity. In 2022, that number rose for the first time since the International Energy Agency (IEA) began tracking it. Most of the increase occurred in African states, where about 600 million people currently lack access.
- Prince Ojeabulu
- Article
The removal of fuel subsidy in Nigeria – although coming with immediate challenges – opens myriads of opportunities that can drive Nigeria’s Energy Transition Plan.
- News
- Business Insider Africa
- News
Fossil fuel consumption subsidies worldwide soared in 2022, rising above USD 1 trillion for the first time. Subsidies exert significant fiscal pressures, leading to higher increased taxation, elevated borrowing, reduced public expenditure. Here is a list of African countries that removed fuel subsidies between 2022 and 2023.
- News
- The Elephant
- News
The Nigerian government appears determined to proceed with its policy of removing the fuel subsidy. However, it is important that this decision is implemented in a manner that does not compromise the standard of living of low-income individuals.
- News
- The Cable
- News
The development comes after months of violent anti-government protests over the burden of high living costs. On Monday, the Energy and Petroleum Regulatory Authority (EPRA), Kenya’s energy regulator, said oil marketing companies will be compensated from the Petroleum Development Fund.