…subsidy in 2021, while another ₦1.20 trillion was deducted from the Federation's crude oil sales proceeds during the same period.Shehu said fuel subsidy payments represented a significant drain on public finances. Other deductions from crude oil revenue included ₦16.20 billion for crude and petroleum product losses, ₦2…

…structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows. The…

…Iranian adjustments in the strait”. Washington revoked sanction waivers on Iranian oil sales, raising pressure on Tehran as it negotiates over a final settlement to the conflict. The US Treasury Department cancelled a licence announced in June that had allowed Iran to produce, sell and deliver crude oil and related pro…