BusinessDay
Nigeria's leading finance and market intelligence news report.

Crude heist, petrol subsidy, anatomy of revenue leakages

Nigeria’s oil sector is bleeding money on account of the activities of oil thieves and government’s obsession with subsidising petrol, a loss that could top N3.5 trillion by year end. Data obtained by BusinessDay found that Nigeria’s daily consumption of Premium Motor Spirit (PMS) – petrol – is currently at an unsustainable level of 103…

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