Nigeria faces ‘fiscal time bomb’, says World Bank

In 2022, as in 2021, Nigeria is not expected to benefit fiscally from higher oil prices fully

With no end in sight to the double whammy of soaring petrol subsidy and plunging crude oil production, the World Bank has warned that a fiscal time bomb could explode in Nigeria. The Federal Government, which had initially budgeted to spend N443 billion on petrol subsidy between January and June,

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