Cars queue to buy petrol at the NNPC Mega petrol station in Abuja REUTERS/Afolabi Sotunde
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As the Central Bank of Nigeria (CBN) signals a subtle harmonisation of exchange rates with the removal of N379/$1 official rate from its website, all is set for labour unions to lock horns with the Federal Government on petrol subsidy removal.
The return of subsidy have posed new challenges for the country in terms of discrepancies in the volume of daily consumed fuel about to be worsened by the apex bank’s adoption of the Investors and Exporters (I&E) window rate, pushing subsidy claims above N120 billion every month.
While the Presidential Economic Advisory Council had last week asked President Muhammadu Buhari to remove subsidy on…
Source: Guardian Newspaper
