Nigerian Federal Government approves N407 Billion for Fuel Subsidy
It appears the lingering fuel scarcity might soon come to an end as the Federal government has approved the release of N407.07 billion as subsidy payment to oil marketers. A statement from the Minister of Finance Kemi Adeosun released today, states that the money will be used to pay up subsidy arrears as well as pay up subsidy for the year 2015. Let's have a look at this, we hear that the price of crude oil is down but things like labour, transport, machines etc. are not yet down but at least the price of fuel should be down regardless of the incomprehensible fuel subs