Tuesday 25 September 2012

[wanabidii] A Citizens' Guide to Energy Subsidies In Nigeria

Most people in Nigeria see fuel subsidies as their share of wealth from the country's oil reserves. However, evidence suggests that the subsidies — worth over NGN 2.19 trillion (US$ 13.6 billion) in 2011 — mostly benefit the well-off. Significant amounts of expenditure have simply been lost to corruption. Moreover, the subsidies have increased the reliance on fuel imports and contributed to the lack of investment in oil refining capacity.

http://www.iisd.org/gsi/sites/default/files/ffs_nigeria_czguide.pdf 

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