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Nigeria’s subsidy bill doubles to near N600bn in one month, data shows

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Business Day

The finances of Africa’s largest crude producer are sinking under weight of a wasteful gasoline subsidy which doubled during the first full month of Russia’s invasion of Ukraine. The Nigerian National Petroleum Corp. spent 521 billion naira ($1.26 billion) on subsidies in March, a 97% increase from February, according to data published by the company […] read more Nigeria’s subsidy bill doubles to near N600bn in one month, data shows

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