Fuel subsidies in Nigeria remain a thorny issue. State support for gasoline and diesel prices, both directly at the pump and through subsidies for fuel imports, places a huge burden on the national finances. A government report calculated that $8 billion out of total federal state expenditure of $22 billion in 2013 was spent on fuel subsidies. Much of that subsidized fuel does not even benefit Nigerians, as it is smuggled across the border into neighboring states where prices are higher.
Posts tagged ‘hydrocarbon’
December 13, 2016 16:11 UTC