Nigeria's fuel subsidies surpassed $1 billion in August
Christian Fernsby ▼ | September 27, 2022
The cost of Nigeria's fuel subsidies rose to 525.714 billion naira ($1.22 billion) in August, bringing the total spent this year to 2.568 trillion naira, according to figures submitted to the government by state oil company NNPC.Article continues below
August's bill compared with 448.782 billion naira in July, according to a document NNPC submitted on Friday to the Federation Account Allocation Committee.
Part of the increased cost was down to a bigger daily supply of petrol, which rose to 71.8 million litres, up nearly 10% from July, according to information submitted at the same meeting by regulator Nigerian Midstream and Downstream Petroleum Regulatory Authority. ■ What to read next
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