Petrol subsidy back as landing cost soars

… Even as minister forecloses subsidy allocation in 2021 budget

Oladehinde Oladipo Jan 14, 2021

BusinessDay reported Federal Government’s initial approved removal of petrol subsidy and the increase in electricity tariff in September 2020, were conditions to access a certain $1.5 billion loan from the World Bank

Nigeria has returned to paying petrol subsidy as the landing cost of around N180 per litre exceeds the pump price of N162 per litre, following a 45 percent increase in the global crude oil price. Zainab Ahmed, minister of finance, budget and national planning, has said the Federal Government is no longer paying subsidies because…

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