So, we all pay subsidies and that is what the President removed. So, instead of going to these private pockets, Nigerian private pockets, the oil magnates, those who operate the industry, the President harvested the money and ploughed it into the treasury of the government. And that’s why most states are getting twice or even three times of what they used to get. So, you can see that money has gone into state treasuries, local government treasuries and also the national treasury and this money hitherto was going into private pockets. That’s the explanation I wanted every Nigerian to understand. But the subsidy regime now we are paying it’s still there. It may not be adequate, probably if it had been adequate, maybe the prices would have been forced down, but that which was removed was the one that was stolen money.
Browsing: Nigeria
Long before now, in 2009, a shipment of counterfeited anti-malarial drugs was intercepted in Lagos. A Nigerian businessman had colluded with a Chinese drug exporter who outsourced the job to an employee of a Chinese drug manufacturing company. The drug ring included a team of packaging experts, as well as another man with the assignment of shipping the drugs into Nigeria from China. In some instances, drugs are made up chalks which unsuspecting consumers swallow as drugs.
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The Bulgarian Parliament is seeking the partnership of Uniccon Group, a Nigerian Company to collaborate on seamless ties and foster…
Some citizens are taking to the street to protest against some government policies which they allege are exacerbating hunger. What started in Minna, Niger, has spread to Ibadan, Lagos Osun and Kano.
Binance, the Special Adviser to the President Bola Tinubu on Information and Strategy, Bayo Onanuga has observed that a cryptocurrency platform, Binance could harm Nigeria’s economy if no action is taken to stop it.