In Nigeria Fuel Subsidy is more important than Health and Education


By Tope Alake

Africa’s largest oil producer spends four times more money subsidizing fuel than building new schools, health centers and equipping new science labs.

Fuel subsidies swallowed 648 billion naira ($1.8b) last year as the country kept prices pegged at 145 naira ($0.40) a liter, figures from the Budget Office and state-owned oil company show.

Cheap fuel in the West African nation has led to large-scale smuggling of the product to neighboring countries where it is twice more expensive.
(Adds state-owned oil firm NNPC as second data source.)

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