Nigeria is sinking under the weight of petrol subsidy which is set to cost the country some N3 trillion this year, more than the country has spent on capital projects each year since 2016.
Nigeria is unlikely to do away with a wasteful petrol subsidy practice until after the general elections in 2023 even though a new oil law abolishing the practice was signed into law last August, the Economist Intelligence Unit (EIU) said in a report Tuesday.
"Instability is chronic in some areas
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