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 has incurred an estimated petrol subsidy of N2.1 trillion in the first six months of this year, according to the national oil company, which is struggling to generate enough oil revenue to cover the soaring cost of subsidising the product.
The World Bank had said in its latest Nigeria D
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