Tag Archives: devaluation

Devaluation of Naira will increase daily subsidy on petrol to N7.1 billion- Report

The devaluation of the naira from N379/$ to N411/$ will push the daily subsidy on petrol to N7.1 billion as it will raise the product’s landing cost. According to an economic report released at the weekend, Managing Director, Financial Derivatives Company (FDC) Limited, Mr. Bismarck Rewane, said the landing cost of petrol has increased by 61.6 per cent to N231.98 ...

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