Nigeria saves $20 Billion from subsidy removal

Nigeria saves $20 Billion from subsidy removal …C0NTINUE READING HERE >>>

Wale Edun, Nigeria’s finance minister, revealed that the country had saved $20 billion by eliminating gasoline subsidies and implementing market-based foreign exchange pricing.

He said this during a recent ceremony in Abuja commemorating the first 100 days of Esther Walso-Jack’s tenure as the federation’s head of civil service.

“An amount of five per cent of GDP is what those two subsidies were costing when there was a subsidy on PMS; when there was petroleum product generally for…

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