Subsidy Removal: FG saves N400 billion in four weeks

Operators within the downstream oil and gas sector have said the federal government has raked in 400 billion naira due to fuel subsidy removal in the last 30 days.

National President of the Independent Petroleum Marketers Association of Nigeria, Chinedu Okonkwo, who disclosed this in an interview with newsmen, said the deregulation has a long time impact.

Recall that the Group Chief Executive Officer of Nigerian National Petroleum Corporation Limited, Mele Kyari had in February this year stated that the country spends 400 billion naira monthly on fuel subsidies.