Fuel Subsidy Removal Saved Nigeria From Bankruptcy – NOA

Utilise subsidy gains to fix economy, experts tell FG

An economist, Prof. Sherifdeen Tella, has urged the Federal and state levels of government to utilise petroleum subsidy gains to address their economic challenges, in order By Simon Akoje An economist, Prof. Sherifdeen Tella, has urged the Federal and state levels of government to utilise petroleum subsidy gains to address their economic challenges, in order not to incur more debt from new loans. Tella, who lectures at the Department of Economic…

Fuel Subsidy Withdrawal Yields $84bn Gain, Report Indicates - Economic Confidential

The Federal Government has stated that the removal of the petrol subsidy ended a historic financial drain that cost Nigeria over $84bn.

Nigeria Wouldn’t Have Repaid IMF $3.2bn Debt, $7bn FX Backlog Without Fuel Subsidy Removal—FG

…Says States Now Swim In Inflow Of Funds The Director-General of the National Orientation Agency (NOA), Lanre Issa-Onilu, has said the removal of the petrol subsidy saved the economy from imminent collapse and rescued several states from bankruptcy. Issa-Onilu spoke in an editorial for The Explainer, a weekly publication of the NOA. He said Nigeria was spending 97 per cent of its revenues on servicing debt when the present administration came in…

Fuel Subsidy Removal Saved Nigeria From Bankruptcy – NOA

The National Orientation Agency (NOA) has declared that the removal of fuel subsidies by President Bola Tinubu in 2023 has rescued Nigeria from the brink of economic collapse. NOA noted that the decision led to improvements in national revenue, monthly allocations to States and public investment. This was disclosed in the 45th edition of ‘The Explainer’, NOA’s weekly policy review publication, which was released on Friday. The latest edition foc…