Petrol subsidy hits N2.57tr as supply rises by 10%
The subsidy bill picked by the Federal Government rose by 17.1 per cent to N525.71 billion last month, the figures made available by the Nigerian National Petroleum Company Limited (NNPCL) NNPC confirmed at the weekend. According to the figures, the government has paid N2.568 trillion as subsidy between January and August. The NNPCL official report submitted to the Federation Account Allocation Committee indicated that petrol subsidy rose from N448.782 billion in July 2022 to N525.71 billion in August 2022 (an increase of 17.1 per cent). The increase in subsidy was partly due to
