Subsidy Removal: OPEC quota cut may force Nigerians to pay more than N530/litre for Petrol
For a post-oil subsidy regime in Nigeria, a surge in global oil prices may lead to an increase in pump prices for Nigerians over the coming months.
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For a post-oil subsidy regime in Nigeria, a surge in global oil prices may lead to an increase in pump prices for Nigerians over the coming months.
If the Tinubu government then decides to retain it for the first four years of its administration, subsidy payment is estimated to gulp 14.01 trillion.
“We can’t be spending those amounts on petrol subsidies when education, infrastructure and security are suffering. It is simply a waste of money,” he noted.
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