Fuel subsidies gulp over N4.9trn in 7 years

Fuel subsidies gulp over N4.9trn in 7 years

In the last seven years, Nigeria may have spent more than this year’s budget of N4.987 trillion on fuel subsidies, BusinessDay’s analysis of figures on fuel subsidies from 2006 to 2012, has shown. In 2006, subsidy cost on petrol was N151.9 billion (bn), N188 bn in 2007, N256.3 bn in 2008 (from January to July);…

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