Tag Archives: subsidy

Angolan President João Lourenço has dismissed the country’s Minister of Economic and Social Development, Manuel Nunes Júnior, in the midst of widespread protests sparked by the government’s decision to eliminate fuel subsidies. The move to end subsidies, aimed at reducing government spending, went into effect on June 1, causing a …

Nigeria’s dollar bonds rallied after President Bola Tinubu scrapped the nation’s $10 billion fuel subsidy program and announced plans to adopt a uniform exchange rate. Debt due in 2047 jumped 3.3% to 66.750 cents on the dollar by 10:10 a.m. in London. Bonds due in 2049 gained 2.9% and those …

Rwanda has increased its fuel prices, reflecting the little impact the bi-monthly government subsidy has had. The latest prices, effective Monday, August 8, will see a litre of petrol retail at Rwf1,609 ($ 1.54), up from Rwf1,460 ($1.39) two months ago. A litre of diesel will sell at Rwf1,607 ($1.53), …