Petrol, FX Subsidies Have Been Extinguished, They Are Not Coming Back

Petrol, FX Subsidies Have Been Extinguished, They Are Not Coming Back …C0NTINUE READING HERE >>>

The federal government of Nigeria has declared a total end to the regime of fuel and foreign exchange subsidies in the country.

According to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who made the declaration during the presentation of the Nigeria Development Update by the World Bank in Abuja on Thursday, October 17, both subsidies have been extinguished.

Edun revealed that the subsidy removal was necessary because it was costing the country too much and had become unsustainable.

According to him, these subsidies had drained the country’s economy,…

>