Though the idea of price stabilization which led to the introduction of fuel subsidy in Nigeria in the 1970s was noble, it had grown into a huge financial burden on the nation’s treasury over the years, necessitating its removal in March 2020. The Nigerian National Petroleum Corporation (NNPC), which said this on Tuesday, maintained that the deregulation of the downstream sector of the oil and gas industry in Nigeria will increase investment in the refining business and facilitate exponential growth in the nation’s refining capacity. Group Managing Director, NNPC, Mallam…
Read MoreHow fuel subsidy grew into huge financial burden for Nigeria in 30 years – NNPC
