Nigeria’s Vice-President Yemi Osinbajo says the fuel subsidy removal has removed a burden of not less than N15.4 billion monthly from the Federal Government. Osinbajo said this in Abuja on Thursday at the 2016 presentation of Scorecard of the Ministry of a Petroleum Resources and Agreements Signing ceremony for Joint Venture Cash Calls (JVC) exit.
”The oil and gas sector remains very critical to the stability and growth of our economy as it accounts
for about 90 per cent of earnings. Amongst others, the downstream sector has been deregulated with the elimination of petroleum subsidy. This policy has removed from government, a burden of not less than N15.4 billion monthly,” he said. Read more here.