Recently, the operators within the downstream of the oil and gas sector have said the federal government has been reportedly raking in 400 billion naira due to fuel subsidy removal in the last 30 days.
This was disclosed in an interview with newsmen by the National President of the Independent Petroleum Marketers Association of Nigeria, Chinedu Okonkwo, saying that the deregulation has a long time impact.
Recalling that the Group Chief Executive Officer of Nigerian National Petroleum Corporation Limited, Mele Kyari had in February this year stated that the country spends 400 billion naira monthly on fuel subsidies.