FG fuel subsidy spending to hit N11tn in 2023

It was gathered that the $2.9bn approved for refineries’ rehabilitation was being released in phases but the plan is to have the facilities fixed with this fund. In March 2021, the Federal Executive Council approved the plan by the Federal Ministry of Petroleum Resources to rehabilitate the Port Harcourt Refinery with $1.5bn. The decision was … [Read more…]