Nigeria may not benefit from rising oil price - World Bank

Nigeria may not benefit from rising oil price – World Bank

Nigeria spent N1.03 trillion on subsidies in 2021, according to data from the Nigerian National Petroleum Corporation (NNPC).

The rising oil prices might have a negative impact on Nigeria's revenues, according to Shubham Chaudhuri, the World Bank’s country director for Nigeria. “Ironically, Nigeria is at a point now where rising oil prices might not be a good thing because although oil production might go up and cru

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