Nigeria to Cushion Subsidy-Cut Impact, Buhari Adviser Says
- Nigeria subsidizes imported fuel because of poor refineries
- Politicians risk civil unrest in moves to eliminate subsidies
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Nigeria is considering ways to cushion the impact of fuel-subsidy cuts as it weighs the possibility that the reform may stoke popular discontent, an adviser to the nation’s president said.
While those policies are being formulated, the state is continuing interventions that it says cost an estimated 744 billion naira ($1.8 billion) a year from 2006 to 2019 to maintain lower gasoline prices. That’s equivalent to about 10% of this year’s projected government revenue.