In a surprising turn of events, the federal government has finally admitted Africa’s biggest oil-producing country will be spending up to N5.4 trillion on oil subsidies in 2024. This comes after months of repeated denials by government officials who insisted there were no subsidies. The revelation came during a presentation by Wala Edun, the minister of finance and coordinating minister of the economy on an Accelerated Stabilisation and Advancement Plan (ASAP), designed to address key challenges affecting the reform initiatives and stimulate development in various sectors of the economy. At…
Read MoreNigerian Govt Finally Admits Paying Fuel Subsidy, Mulls N5.4Trn For Scheme
