Fuel Subsidy In Nigeria 2024. Presidential candidates vowed to remove upon assuming office. The petroleum and natural gas senior staff association of nigeria (pengassan) has said that the government is still paying subsidies on petrol due to.
Presidential candidates vowed to remove upon assuming office. Time will tell if it can heal,.
At His Inauguration On Monday, Tinubu Announced The Total Removal Of The Highly Controversial But Popular Fuel Subsidy, Resulting In High Prices And Long Queues Nationwide.
Nigeria was long under international pressure to end fuel subsidies that allowed its citizens to pay some of the cheapest petrol prices in the world.
On Monday 29 May, In His Inaugural Speech, President Bola Tinubu Said Nigeria’s Fuel Subsidies Would Be Scrapped, Citing Budgetary Concerns.
Despite the attendant economic hardship, the federal.
Former Governor Of Bauchi State And A Chieftain Of All Progressives Congress, Apc, Isa Yuguda, Has Said The Federal Government Was Still Paying Subsidy On.
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The Minister Of Information And National Orientation, Mohammed Idris, Has Hailed The Independent.
In 2022 an estimated n2.74 trillion was paid as fuel subsidy, while just over n600 billion was made in oil revenue.
About 40% Of Nigeria’s Revenue In 2022 Was Spent On Fuel Subsidies.
Billions of dollars were said to have been lost.
But Mr Tinubu Says Nigeria Can No Longer Do This Because Of Dwindling.