Nigeria Confirms That Fuel Subsidies Remain
What a country: “At current rates, expenditure on fuel subsidy is projected to reach N5.4trillion by the end of 2024. This compares unfavourably with N3.6 trillion in 2023 and N2.0 trillion in 2022” - Nigeria's Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in the newly introduced Accelerated Stabilization and Advancement Plan (ASAP), aimed at tackling key economic challenges and stimulating development across various sectors.
In other words, as the village boy wrote in June 2023, Nigeria does not have the capacity to float the currency and remove fuel subsidies at the same time, irrespective of whatever any person would tell you, because it is IMPOSSIBLE to do some at the same time. The government has confirmed that nothing has indeed changed; only the style evolved.