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The Nigerian National Petroleum Company has described the recent removal of the petrol subsidy by the federal government as a welcomed development in Nigeria.
It does appear or so it seems that the Buhari administration has found a way of sorting out the problem of petrol subsidy. It has borrowed a handsome sum of $800 million from the World Bank.
Nigeria's National Economic Council is proposing an extension of the June deadline for petroleum subsidy removal, stressing that there's a need for more stakeholder engagement, including the incoming government.