Fuel subsidy

I remember the Petroleum Trust Fund (PTF), established in the aftermath of the 1993 fuel price hike, when the price of petrol rose from about N3.50 to N8.50 per litre. The justification was that the additional revenue would be channeled towards critical infrastructure and national development. Then came 2012. The Goodluck Jonathan administration introduced the Subsidy Reinvestment and Accountability Program …

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