Subsidy hits 45% of fuel import bill in Q1

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National Bureau of Statistics, NBS, has disclosed that Nigeria spent N1.51trillion on the imports of premium motor spirit, known as petrol, in the first quarter of 2022.

This was disclosed in the Foreign Trade in Goods Statistics report of the NBS.

According to the reports, this was 25.54 per cent of the total imports for this quarter, and an increase of 17.05 per cent when compared to the N1.29trillion spent on importing fuel in Q1 2021.

Written by: bossgmsi

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